Claude Sonnet 5 · 5 turns · 26.4k tokens
Read the audience as a board, so the argument leads and the evidence follows. Structure agreed before anything was written.
Revenue is up 18.4% quarter on quarter, but churn moved the wrong way. Both are in the summary — jump anywhere from the outline.
Churn now sits under Key Findings with the cohort table beside it, and all five recommendations carry an owner and a target date.
Revenue, pipeline health and the churn regression — with five recommendations the board is asked to approve.
Contents
Section 01
Q2 delivered £2.41m, up 18.4% on Q1 and 6% ahead of plan. Growth came from larger deals rather than more of them, which is the healthier of the two explanations — but net revenue retention slipped below 100% for the first time in five quarters.
Section 02
This review answers three questions the board asked in April: whether the enterprise shift is producing revenue, whether it is costing us the smaller accounts, and whether Q3 can be committed with confidence.
Section 03
Ninety-one deals closed in Q2 against eighty-nine in Q1, yet revenue rose by £375k. Average contract value moved from £22.9k to £29.1k as the enterprise tier accounted for 46% of bookings.
Teams running the standardised pilot closed in 38 days on average; those that did not took 52. The difference is large enough that it is unlikely to be noise, though the sample is a single quarter.
Net retention fell to 97%. Eleven of the fourteen churn events sat in the sub-£10k cohort, all of which onboarded in under seven days and received no assigned success contact. Retention above £25k was unchanged at 104%.
| Band | Accounts | Churned | Retention |
|---|---|---|---|
| Under £10k | 148 | 11 | 88% |
| £10k – £25k | 62 | 2 | 99% |
| Above £25k | 31 | 1 | 104% |
Section 04
Section 05
Every figure below reconciles to the pipeline export dated 1 July 2026.
| Region | Q1 | Q2 | Deals | Win rate | Change |
|---|---|---|---|---|---|
| UK & Ireland | 842 | 1,004 | 38 | 36% | 19.2% |
| DACH | 486 | 612 | 21 | 33% | 25.9% |
| Nordics | 401 | 438 | 18 | 31% | 9.2% |
| Benelux | 306 | 356 | 14 | 34% | 16.3% |
| Total | 2,035 | 2,410 | 91 | 34% | 18.4% |
Section 06
Section 07
Five actions, ordered by the size of the problem they address rather than the ease of doing them.
Eleven of fourteen churn events had no named owner. A pooled contact would cost roughly one headcount.
Teams using it close fourteen days faster. Adoption is the only variable we control this quarter.
Above that, a single non-renewal moves the quarter. Set it as a planning constraint, not a target.
Fastest growth from the smallest base; two additional reps would be repaid within three quarters.
±14% accuracy is too wide to commit against. Weekly stage hygiene should close half the gap.
Section 08
Each action has one owner. Where an owner is shared, the first name listed is accountable.
Section 09
Figures are drawn from the pipeline export of 1 July 2026 and reconciled against the finance ledger to within £1,200, a variance explained by two invoices raised after the period close.
The pilot comparison covers a single quarter and was not randomly assigned; teams opted in. The effect is large but should be treated as indicative until Q3 confirms it.
13Section 10
