FY26 is a year for getting boring things right — keeping the customers we have, widening every gap between revenue and cost, and earning the right to expand into one new segment.
A snapshot at the close of FY25. The fundamentals are healthy; the curve is bending the right way; the next twelve months are about deliberate compounding, not heroics.
Gross retention is at an all-time high; the product is sticky in the segments we've picked.
Cloud costs and a maturing AE org compressed GM by ~80 bps. Reversible.
Mid-market is asking for adjacencies we don't yet build. One bet for FY26.
Four quadrants. No varnish. This is the picture the FY26 plan is built on.
The legacy vendors are slow; the new entrants are narrow. There is a real opening for the company that does the boring half well.
Growing 19% CAGR. Top-3 legacy vendors hold 58% share but lost two enterprise marquee accounts to modern challengers in Q4.
We are taking share in the mid-market band where the legacy cohort is most exposed and the modern entrants are too thin to win procurement.
The opening: a credible breadth player that ships modern UX without abandoning the workflows the legacy buyers have built around.
Everything else is service to these. If a thing isn't on this slide, it doesn't get a roadmap line.
Earn the right to next year's revenue.
Push gross retention to 94%+ by closing the onboarding gap and re-platforming the support layer. The cheapest dollar is the one we already won.
Buy ourselves time and optionality.
Reverse the 80bps GM slide. Cloud, support automation, and sales productivity each contribute a third. We exit FY26 with 76% GM and a clean cost narrative.
One bet, executed properly.
Ship the data-warehouse adjacency to the design-partner cohort by end of Q2. No platform play; no second product. One narrow, ownable wedge.
One objective per pillar. Three measurable results. A single accountable owner.
Three swimlanes, one per pillar. No initiative on this chart that doesn't tie to an OKR on the previous slide.
Free-cash-flow positive in Q4 without slowing growth. Margin discipline funds the expansion bet — not new dilution.
38 net new hires. Budget weight shifts toward the warehouse bet without starving the core. The Q4 FCF figure already prices this in.
~$3.4M shifts from G&A and tools into product/engineering for the warehouse bet. Cloud spend grows in absolute dollars but shrinks as a share of revenue.
Five real risks. Each has a named owner and a way out. Reviewed in board cadence; tracked on the same dashboard as the OKRs.
The board dashboard, distilled. Eight numbers. Reviewed monthly. Nothing else gets the same airtime.
$46.2M operating, with the people/cloud/GTM split shown on slide 09. No new dilution required.
Endorse a single product wedge for FY26 — and the discipline of not opening a second.
Lease commit + first three hires. Pays back inside FY26 on the coverage gap noted in slide 10.
“A quiet year of compounding.” — see slide 01.
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