What this says
As at Fri 9 Oct 2026Final board pack from the CFO for the quarter ended 30 Sep 2025. It reports contracted ARR of £2.2m, 51 customers and headcount of 35, with no quarter-on-quarter comparison.
What it is: an internal board pack issued on 16 Oct 2025 by Bridget Kearsley, Chief Financial Officer, for the board of BG-Demo. It says "every figure below is taken from our finance records as at 30 Sep 2025".
Claims: contracted ARR is £2.2m, built from executed order forms. Customers number 51, meaning organisations with a live contract, and headcount is 35 per HR.
Method: credit notes are one-offs and do not move ARR. Each organisation is counted once, even where the CRM holds more than one record.
Not settled: the pack "does not set out the movement against the previous quarter". It also gives no tier, region or renewal breakdown, no cash collected and no usage data.
Currency: it describes 30 Sep 2025 only, so it is stale for current decisions. Later figures would need a newer pack.
Body
BG-Demo - Board Pack - quarter to 30 Sep 2025
Status: Final Prepared by: Bridget Kearsley, Chief Financial Officer Date issued: 16 Oct 2025 Period covered: the quarter ended 30 Sep 2025 Audience: the board of BG-Demo
Purpose of this pack
This pack gives the board the headline position of BG-Demo at the end of the quarter, with short commentary on what each number does and does not tell us. For the avoidance of doubt, every figure below is taken from our finance records as at 30 Sep 2025, and where a figure is not held in those records this pack says so rather than estimating it.
Headline numbers
| Measure | Position at 30 Sep 2025 | Basis |
|---|---|---|
| Annual recurring revenue (contracted) | £2.2m | Executed order forms |
| Customers | 51 | Organisations with a live contract |
| Headcount | 35 | People employed by BG-Demo, per HR |
Annual recurring revenue
Contracted annual recurring revenue stands at £2.2m at the quarter end.
A few points of method, so the board can read the number correctly:
Read the whole document (4,390 characters)
- The figure is built from executed order forms, not from the CRM deal amount. Our records show the order form decides contracted price and terms.
- It is annual subscription revenue only. The one-off implementation fee that comes with a new customer is not part of it.
- Credit notes are treated as one-offs and do not move the figure.
- Each organisation is counted once, including where the CRM holds more than one record for the same company.
This pack does not set out the movement against the previous quarter, and I would be grateful if the board did not read a trend into a single point. The next pack will show the comparison.
Customers
BG-Demo has 51 customers at the quarter end. A customer here means an organisation with a live contract. An organisation that the CRM still marks as a customer, but whose last term has ended and which has had no invoice since, is not counted.
The pack does not break the 51 down by tier, region or renewal date. Those cuts sit with the customer success and sales teams and will follow separately if the board wants them.
Headcount
Headcount is 35 at the quarter end. The figure follows HR records: a person who has left BG-Demo is not counted, whatever the CRM or a call recorder may still show against their name.
Commentary
What the numbers say
- Revenue is contracted and recurring, so the base is largely visible and defensible. Our forecast should be built from it.
- The customer count and the ARR together give a sense of scale, but the pack does not divide one by the other, as that would be an average that hides the spread between tiers.
- Headcount is modest against the customer base, which fits a business that runs inside each customer's own Snowflake account.
What the numbers do not say
- They do not show cash collected in the quarter or the age of any open invoices. Collections are reported separately.
- They do not show renewal exposure by month.
- They do not show usage or adoption, which is the leading indicator of whether renewals hold.
Risks to watch
| Area | Why it matters | Owner |
|---|---|---|
| Renewals | The subscription must be renewed, and ideally grown, each year to hold ARR | Customer success |
| Billing accuracy | Invoices must match the executed order form and the CRM deal record | Finance |
| Data quality in the CRM | CRM ARR is a claim to be checked against invoices and order forms | Finance and sales operations |
| Capacity | Headcount has to keep pace with implementations and customer growth | Executive team |
Actions arising
- Finance to reconcile CRM ARR against invoices and executed order forms before the next pack, and to report any difference to the board.
- Finance to add a quarter-on-quarter comparison and a renewal calendar to the next pack.
- Customer success to supply an adoption summary to sit alongside the financial numbers.
- The CFO to bring the forecast, built from contracted ARR, to the next board meeting.
Any discount or fee waiver remains a decision for Nell Ashcombe and is not proposed in this pack.
Approval and distribution
This is the final version of the pack, issued on 16 Oct 2025. Questions on any figure should come to me directly and I will cite the record it comes from.
Best, Bridget
Bridget Kearsley Chief Financial Officer, BG-Demo