June by the Numbers: Milestone Metrics, a Cash Dip, and Q2 in the Green

Hello everyone! Jenny here, back in your inbox after Kyle’s excellent edition last month.

We just wrapped Q2 and reached the halfway point of 2025, a year that's shaping up to be one of our strongest yet in terms of both growth and profitability. Let’s dig into the numbers.

📈 June at a Glance

• MRR: $1,903,593 (+1.84%)

• ARR: $22,843,116 (+1.84%)

• Customers: 68,942 (+2.03%)

• MAU: 188,147 (+0.39%)

• ARPU: $27.61 (–0.18%)

• Revenue: $1,891,193 (+$28K MoM)

• Net Income: $177,695 (–29% MoM, but still strong!)

• Team Size: 69 (–3)

• Revenue per Employee: $331,060

• Bank Balance: $2.874M (–11.87%)

• Runway: 330 months (yes, that’s 27.5 years 😅)

📖 Curious what some of these terms mean? Check out our Finance glossary →

💸 Cash: Strategic Outflows, Healthy Inflows

Ending cash balance: $2,874,363

MoM change: –$387,188

June brought a planned dip in our bank balance, largely due to the final $743K payment on a promissory note from an earlier investor buyback. When we layer this on top of the $1.3M repurchase from a separate investor earlier this year, you’ll notice some fluctuations in our cash position.

These kinds of investor buybacks aren’t new for us. They happen regularly, and they help ensure our cap table stays aligned with our long-term vision. Each one is part of our broader goal to increase team ownership and grow on our own terms. If you’re curious, we shared more about a past buyout in this post.

These outflows don’t impact profitability, but they do show up in the bank balance. That’s why you’ve seen our cash runway pop in and out of view a few times this year. While we celebrated its disappearance earlier in 2025, we’ve since expected (and planned for) its temporary return due to these strategic, one-time moves.

The good news is that underlying cash generation remains strong. We brought in $1.901M in receipts this month, right on pace with our 2025 average. And even after these outflows, operating cash flow landed at $300K, with a healthy 15.8% margin.

One fun milestone: despite the drawdown, this is our 6th straight month with cash receipts above $1.8M, a streak we hadn’t hit since 2020. We also expect for the runway to disappear again next month.

📊 P&L: A Solid Revenue Month with Some One-Time Costs

Revenue came in at $1.891M, a $30K MoM increase and a 23.4% YoY jump. That also marks a full year of consecutive revenue growth.

On the expense side, things ticked up slightly in June:

• + $109K in employee expenses (severance for a few teammates we parted ways with, along with our regular salary re-benchmarking, which you can read more about here)

• + $3K in hosting (ongoing AWS increases)

• + $35K in tax and profit-share accruals

• + $5K in other income (credit card rewards and a few miscellaneous items)

Total operating expenses plus COGS were $1.698M, resulting in net income of $177K.

That marks our fourth six-figure profit in the first half of the year, even with some sizable one-time costs along the way, like retreat expenses in April. This brings our YTD profit to over $756,000.

🧮 Rule of 40: Still in Striking Distance

As a quick refresher, the Rule of 40 is a common benchmark for SaaS companies that combines profitability and growth:

EBITDA margin + YoY revenue growth = Rule of 40 score

Here’s where we landed in June:

• EBITDA margin: 10.2%

• YoY revenue growth: 23.4%

• Rule of 40 score: 33.6%

We’ve now crossed 10% EBITDA margins in 3 of the last 4 months, which is a level we hadn’t hit consistently in years. As we look ahead to H2, we’re aiming to balance continued investment with sustaining this healthy margin.

📆 Q2 & First-Half Recap: Growth Mode Activated

We finished the first half of the year in a great position. We’ve grown MRR, increased our customer base, and returned to sustained profitability.

Year-to-date vs. 2024:

The headline here: We’ve flipped from red to green, a $958K swing in net income YoY. Gross margins have held steady, and our discipline on OpEx has kept us efficient while scaling.

That’s a wrap for June and Q2. As always, thanks for following along. If you want to dig deeper into the numbers, you can explore the full reports below. And if you have any questions, reach out anytime.

We love talking finance. 💚

👉 Explore the full June financials

Until next time,

Jenny Terry, Head of Finance