2025: the operating model started to compound

2025 was the year the company stopped buying growth at the cost of the operating model. Revenue grew 41%, retention improved in every mature cohort, and the team entered 2026 with enough runway to choose where speed matters rather than chase it everywhere.

source → FY25 financial close+1 more

source · 1FY25 combined 41% revenue growth, improving retention, and a more durable operating modelquery: “what changed in the business across 2025 and what carries into 2026”→ FY25 financial close→ Operating plan v18

41%

Revenue growth · vs FY24

116%

Net retention · +8 pts

74%

Gross margin · +6 pts

22 mo

Runway

source → FY25 financial close

source · 2four FY25 indicators: growth, net retention, gross margin, and runwayquery: “FY25 revenue growth, net retention, gross margin and runway”→ FY25 financial close

The core began to pay for the next move

The meaningful shift was not the headline growth rate. Expansion revenue carried more of the quarter while support cost per active account fell, so the business generated room to invest without reducing the quality of the product or the customer relationship.

Enterprise expansion became repeatable after the implementation reset.
New cohorts retained earlier because the first-value path became shorter.
Margin improved as support work moved from reactive intervention to a documented operating rhythm.

source → FY25 financial close+1 more

source · 3expansion, earlier retention, and lower reactive support cost made the core more durablequery: “which operating changes created the FY25 improvement”→ FY25 financial close→ Operating plan v18

2026 commitment

Keep the profitable core focused, fund the enterprise expansion, and review the operating plan quarterly against retention and margin—not just the top-line target.

source → Operating plan v18

source · 42026 prioritises the profitable core and enterprise expansion, reviewed against retention and marginquery: “what should the team protect and fund in 2026”→ Operating plan v18

First-quarter actions

Set the enterprise expansion target with one accountable executive owner by 31 January.
Review retention, margin, and support cost against the operating plan at the end of each quarter.
Bring the investment decision back to the leadership team if any of those three signals moves materially off plan.

source → Operating plan v18

source · 5three first-quarter actions protect the operating-model gainsquery: “what must happen in Q1 to keep the FY25 operating-model gains intact”→ Operating plan v18