Deal Story
Pick a company to see its story: every update, call and set of financials it has sent, in order. Below is the latest across the whole book.
Updates read
443
across 24 companies
Significant
64
changed the investment case
Last 90 days
40
recent news
Last 12 months
184
this reporting year
Latest across the book
300 shown
2026
The Q3 board materials add net income and management's own runway figure, and set out a hiring plan ahead of the Series C.
Management's September reforecast trims the Q4 revenue plan by about 4% on a slower aerospace restart and holds EBITDA by deferring two hires.
Revenue of $42K was in line with the $42K budget. The EBITDA loss of $106K leaves $1.31M of cash, about 12 months at that burn. The package follows the format agreed at closing.
Revenue of $1.92M was in line with the $1.94M budget, up 4% on a year earlier. EBITDA of $1.19M (62% margin) was on plan. Occupancy across the four buildings was 95%. Nothing in the package changes the full-year view.
Revenue of $1.45M was 17% ahead of the $1.24M budget, up 52% on a year earlier. The EBITDA loss of $754K leaves $4.04M of cash, about 16 months at that burn. Management raised the full-year revenue outlook.
Revenue of $4.39M was 5% ahead of the $4.20M budget, up 25% on a year earlier. EBITDA of $662K (15% margin) beat plan by 13%. The full-year plan is unchanged; the beat is mostly volume.
Revenue of $1.96M was in line with the $2.01M budget, up 26% on a year earlier. EBITDA of $61K (3% margin) was on plan. Nothing in the package changes the full-year view.
09-30
Northwind Coffee Roasters
Northwind Coffee: September 2026 revenue 22% behind plan
Significant
Report
5 figures
Revenue of $456K was 22% behind the $586K budget, up 9% on a year earlier. EBITDA of $22K (5% margin) was 26% short of plan. The business is still well short of the plan set at acquisition; the board is reviewing the cost base.
Revenue of $4.48M was 5% ahead of the $4.26M budget, up 18% on a year earlier. EBITDA of $668K (15% margin) was on plan. Management reiterates the full-year outlook.
Revenue of $6.02M was in line with the $6.17M budget, up 12% on a year earlier. EBITDA of $835K (14% margin) was on plan. Nothing in the package changes the full-year view.
Revenue of $4.20M was 9% ahead of the $3.86M budget, up 26% on a year earlier. EBITDA of $849K (20% margin) was on plan. The board asked management to re-base the plan on the current run rate.
Revenue of $4.77M was in line with the $4.89M budget, up 11% on a year earlier. EBITDA of $868K (18% margin) was 11% short of plan. Nothing in the package changes the full-year view.
Revenue of $3.34M was 12% ahead of the $3.00M budget, up 73% on a year earlier. The EBITDA loss of $2.82M leaves $9.54M of cash, about 10 months at that burn. Management raised the full-year revenue outlook.
The 10 MWh pilot at a utility site was commissioned and is cycling daily; round-trip efficiency is in line with the lab data. Revenue of $2.79M was 20% behind the $3.47M budget, up 38% on a year earlier. The EBITDA loss of $3.84M leaves $6.95M of cash, about 5 months at that burn.
Revenue of $310K was in line with the $310K budget. The EBITDA loss of $692K leaves $942K of cash, about 4 months at that burn. ARR ended at $1.30M. The package follows the format agreed at closing.
Revenue of $3.38M was 5% ahead of the $3.22M budget, up 35% on a year earlier. EBITDA of $342K (10% margin) was on plan. ARR ended at $37.6M with net revenue retention of 109%. Management reiterates the full-year outlook.
09-30
Bluewater Logistics Group
Bluewater: September 2026 revenue 45% behind plan
Significant
Report
5 figures
Revenue of $1.53M was 45% behind the $2.80M budget, down 14% on a year earlier. EBITDA of $99K (6% margin) was 41% short of plan. The business is still well short of the plan set at acquisition; the board is reviewing the cost base.
Revenue of $6.74M was 13% ahead of the $5.98M budget, up 30% on a year earlier. EBITDA of $1.46M (22% margin) was on plan. Originations were $65.2M. The board asked management to re-base the plan on the current run rate.
Revenue of $3.52M was in line with the $3.42M budget, up 21% on a year earlier. EBITDA of $573K (16% margin) was on plan. Average daily census was 1,543. Nothing in the package changes the full-year view.
The board-approved 2026 budget plans revenue of $431K, 71% above 2025's actual revenue, and an EBITDA loss of $930K funded from the balance sheet.
08-31
Vantage Point Analytics
Vantage Point: August 2026 revenue 5% short of budget
Report
5 figures
Revenue of $1.87M was 5% behind the $1.96M budget, up 24% on a year earlier. EBITDA of $54K (3% margin) was 8% short of plan. Management puts the gap down to timing and keeps the full-year plan.
08-31
Northwind Coffee Roasters
Northwind Coffee misses its August 2026 plan by 24%
Significant
Report
5 figures
Revenue of $437K was 24% behind the $577K budget, up 5% on a year earlier. EBITDA of $21K (5% margin) was 29% short of plan. Volumes remain well below the acquisition plan, and the lender has been briefed on the reset.
Revenue of $4.41M was 5% ahead of the $4.21M budget, up 21% on a year earlier. EBITDA of $693K (16% margin) beat plan by 10%. The full-year plan is unchanged; the beat is mostly volume.
Revenue of $6.02M was in line with the $6.13M budget, up 14% on a year earlier. EBITDA of $838K (14% margin) beat plan by 5%. No changes to the team or the capital structure.
Revenue of $4.07M was 7% ahead of the $3.80M budget, up 24% on a year earlier. EBITDA of $940K (23% margin) beat plan by 18%. Management raised the full-year revenue outlook.
Revenue of $4.67M was 3% behind the $4.84M budget, up 13% on a year earlier. EBITDA of $982K (21% margin) was on plan. Management puts the gap down to timing and keeps the full-year plan.
Revenue of $3.36M was 7% ahead of the $3.14M budget, up 42% on a year earlier. EBITDA of $334K (10% margin) was on plan. ARR ended at $36.9M with net revenue retention of 109%. The board asked management to re-base the plan on the current run rate.
08-31
Bluewater Logistics Group
Bluewater misses its August 2026 plan by 42%
Significant
Report
5 figures
Revenue of $1.61M was 42% behind the $2.76M budget, down 12% on a year earlier. EBITDA of $97K (6% margin) was 42% short of plan. Volumes remain well below the acquisition plan, and the lender has been briefed on the reset.
Revenue of $6.48M was 10% ahead of the $5.88M budget, up 28% on a year earlier. EBITDA of $1.71M (26% margin) beat plan by 21%. Originations were $64.5M. Management raised the full-year revenue outlook.
Revenue of $3.53M was 5% ahead of the $3.37M budget, up 17% on a year earlier. EBITDA of $652K (19% margin) beat plan by 14%. Average daily census was 1,571. Management reiterates the full-year outlook.
Revenue of $1.83M was 5% behind the $1.92M budget, up 28% on a year earlier. EBITDA of $57K (3% margin) was on plan. The shortfall is concentrated in two accounts; management expects to recover it by year-end.
07-31
Northwind Coffee Roasters
Northwind Coffee: July 2026 revenue 20% behind plan
Significant
Report
5 figures
Revenue of $455K was 20% behind the $569K budget, up 9% on a year earlier. EBITDA of $24K (5% margin) was 17% short of plan. The business is still well short of the plan set at acquisition; the board is reviewing the cost base.
Revenue of $4.15M was in line with the $4.16M budget, up 14% on a year earlier. EBITDA of $601K (14% margin) was on plan. No changes to the team or the capital structure.
Revenue of $5.79M was 5% behind the $6.08M budget, up 8% on a year earlier. EBITDA of $693K (12% margin) was 12% short of plan. The shortfall is concentrated in two accounts; management expects to recover it by year-end.
Revenue of $4.00M was 7% ahead of the $3.74M budget, up 22% on a year earlier. EBITDA of $917K (23% margin) beat plan by 17%. The board asked management to re-base the plan on the current run rate.
Revenue of $4.73M was in line with the $4.79M budget, up 15% on a year earlier. EBITDA of $999K (21% margin) was on plan. Nothing in the package changes the full-year view.
Revenue of $3.27M was 7% ahead of the $3.06M budget, up 36% on a year earlier. EBITDA of $341K (10% margin) was on plan. ARR ended at $35.9M with net revenue retention of 108%. Management raised the full-year revenue outlook.
07-31
Bluewater Logistics Group
Bluewater: July 2026 revenue 40% behind plan
Significant
Report
5 figures
Revenue of $1.64M was 40% behind the $2.73M budget, down 13% on a year earlier. EBITDA of $93K (6% margin) was 43% short of plan. The business is still well short of the plan set at acquisition; the board is reviewing the cost base.
Revenue of $6.14M was 6% ahead of the $5.77M budget, up 28% on a year earlier. EBITDA of $1.58M (26% margin) beat plan by 14%. Originations were $64.0M. The board asked management to re-base the plan on the current run rate.
Revenue of $3.58M was 8% ahead of the $3.33M budget, up 28% on a year earlier. EBITDA of $560K (16% margin) was on plan. Average daily census was 1,539. The board asked management to re-base the plan on the current run rate.
Revenue of $1.87M was in line with the $1.91M budget, up 4% on a year earlier. EBITDA of $1.25M (67% margin) was on plan. Occupancy across the four buildings was 95%. No changes to the team or the capital structure.
Revenue of $1.31M was 16% ahead of the $1.13M budget, up 51% on a year earlier. The EBITDA loss of $686K leaves $4.83M of cash, about 21 months at that burn. The board asked management to re-base the plan on the current run rate.
Revenue of $4.12M was in line with the $4.01M budget, up 19% on a year earlier. EBITDA of $526K (13% margin) was 6% short of plan. No changes to the team or the capital structure.
Revenue of $1.89M was in line with the $1.88M budget, up 35% on a year earlier. EBITDA of $51K (3% margin) was 9% short of plan. No changes to the team or the capital structure.
06-30
Northwind Coffee Roasters
Northwind Coffee misses its June 2026 plan by 19%
Significant
Report
5 figures
Revenue of $455K was 19% behind the $560K budget, up 9% on a year earlier. EBITDA of $22K (5% margin) was 21% short of plan. Volumes remain well below the acquisition plan, and the lender has been briefed on the reset.
Revenue of $4.13M was in line with the $4.11M budget, up 15% on a year earlier. EBITDA of $620K (15% margin) was on plan. Nothing in the package changes the full-year view.
Revenue of $5.89M was in line with the $6.03M budget, up 11% on a year earlier. EBITDA of $787K (13% margin) was on plan. No changes to the team or the capital structure.
Revenue of $3.87M was 5% ahead of the $3.68M budget, up 24% on a year earlier. EBITDA of $743K (19% margin) was on plan. Management reiterates the full-year outlook.
Revenue of $4.62M was in line with the $4.74M budget, up 8% on a year earlier. EBITDA of $909K (20% margin) was on plan. No changes to the team or the capital structure.
Revenue of $3.04M was 16% ahead of the $2.63M budget, up 83% on a year earlier. The EBITDA loss of $2.57M leaves $12.4M of cash, about 14 months at that burn. The board asked management to re-base the plan on the current run rate.
Revenue of $2.53M was 18% behind the $3.09M budget, up 40% on a year earlier. The EBITDA loss of $3.03M leaves $10.8M of cash, about 11 months at that burn. Volumes remain well below the acquisition plan, and the lender has been briefed on the reset.
Revenue of $3.26M was 9% ahead of the $2.99M budget, up 45% on a year earlier. EBITDA of $381K (12% margin) beat plan by 16%. ARR ended at $35.3M with net revenue retention of 108%. The board asked management to re-base the plan on the current run rate.
06-30
Bluewater Logistics Group
Bluewater misses its June 2026 plan by 41%
Significant
Report
5 figures
Revenue of $1.58M was 41% behind the $2.70M budget, down 17% on a year earlier. EBITDA of $98K (6% margin) was 40% short of plan. Volumes remain well below the acquisition plan, and the lender has been briefed on the reset.
Revenue of $6.30M was 11% ahead of the $5.67M budget, up 32% on a year earlier. EBITDA of $1.54M (24% margin) beat plan by 13%. Originations were $62.9M. Management raised the full-year revenue outlook.
Revenue of $3.37M was in line with the $3.28M budget, up 17% on a year earlier. EBITDA of $581K (17% margin) was on plan. Average daily census was 1,529. No changes to the team or the capital structure.
Revenue of $1.78M was 3% behind the $1.84M budget, up 24% on a year earlier. EBITDA of $59K (3% margin) beat plan by 6%. The shortfall is concentrated in two accounts; management expects to recover it by year-end.
05-31
Northwind Coffee Roasters
Northwind Coffee: May 2026 revenue 18% behind plan
Significant
Report
5 figures
Revenue of $454K was 18% behind the $552K budget, up 6% on a year earlier. EBITDA of $25K (5% margin) was 10% short of plan. Management has cut the full-year outlook and is holding hiring until volumes recover.
Revenue of $4.04M was in line with the $4.06M budget, up 14% on a year earlier. EBITDA of $659K (16% margin) beat plan by 8%. No changes to the team or the capital structure.
Revenue of $5.80M was in line with the $5.98M budget, up 11% on a year earlier. EBITDA of $742K (13% margin) was on plan. Nothing in the package changes the full-year view.
Revenue of $3.82M was 5% ahead of the $3.63M budget, up 22% on a year earlier. EBITDA of $802K (21% margin) beat plan by 5%. The full-year plan is unchanged; the beat is mostly volume.
Revenue of $4.64M was in line with the $4.70M budget, up 12% on a year earlier. EBITDA of $969K (21% margin) was on plan. Nothing in the package changes the full-year view.
Revenue of $3.01M was 3% ahead of the $2.92M budget, up 35% on a year earlier. EBITDA of $361K (12% margin) beat plan by 13%. ARR ended at $34.7M with net revenue retention of 109%. Management reiterates the full-year outlook.
05-31
Bluewater Logistics Group
Bluewater: May 2026 revenue 38% behind plan
Significant
Report
5 figures
Revenue of $1.64M was 38% behind the $2.67M budget, down 15% on a year earlier. EBITDA of $104K (6% margin) was 35% short of plan. The business is still well short of the plan set at acquisition; the board is reviewing the cost base.
Revenue of $6.16M was 11% ahead of the $5.57M budget, up 33% on a year earlier. EBITDA of $1.39M (23% margin) was on plan. Originations were $62.1M. The board asked management to re-base the plan on the current run rate.
Revenue of $3.43M was 6% ahead of the $3.24M budget, up 26% on a year earlier. EBITDA of $634K (18% margin) beat plan by 15%. Average daily census was 1,493. The full-year plan is unchanged; the beat is mostly volume.
Revenue of $1.74M was 3% behind the $1.80M budget, up 24% on a year earlier. EBITDA of $48K (3% margin) was 11% short of plan. Management puts the gap down to timing and keeps the full-year plan.
04-30
Northwind Coffee Roasters
Northwind Coffee misses its April 2026 plan by 20%
Significant
Report
5 figures
Revenue of $435K was 20% behind the $544K budget, up 1% on a year earlier. EBITDA of $22K (5% margin) was 18% short of plan. Volumes remain well below the acquisition plan, and the lender has been briefed on the reset.
A chief operating officer joined from a larger home-health operator to run the branch network. Revenue of $4.06M was in line with the $4.01M budget, up 16% on a year earlier. EBITDA of $572K (14% margin) was on plan.
Revenue of $5.64M was 5% behind the $5.93M budget, up 4% on a year earlier. EBITDA of $747K (13% margin) was on plan. Management puts the gap down to timing and keeps the full-year plan.
Revenue of $3.73M was 5% ahead of the $3.57M budget, up 22% on a year earlier. EBITDA of $849K (23% margin) beat plan by 13%. Management reiterates the full-year outlook.
Revenue of $4.62M was in line with the $4.65M budget, up 11% on a year earlier. EBITDA of $963K (21% margin) was on plan. No changes to the team or the capital structure.
Revenue of $3.08M was 8% ahead of the $2.85M budget, up 39% on a year earlier. EBITDA of $350K (11% margin) beat plan by 12%. ARR ended at $33.6M with net revenue retention of 108%. The board asked management to re-base the plan on the current run rate.
04-30
Bluewater Logistics Group
Bluewater misses its April 2026 plan by 37%
Significant
Report
5 figures
Revenue of $1.66M was 37% behind the $2.63M budget, down 12% on a year earlier. EBITDA of $98K (6% margin) was 38% short of plan. Volumes remain well below the acquisition plan, and the lender has been briefed on the reset.
Revenue of $5.87M was 7% ahead of the $5.47M budget, up 29% on a year earlier. EBITDA of $1.36M (23% margin) was on plan. Originations were $60.0M. Management raised the full-year revenue outlook.
Revenue of $3.32M was 4% ahead of the $3.19M budget, up 23% on a year earlier. EBITDA of $577K (17% margin) beat plan by 6%. Average daily census was 1,499. Management reiterates the full-year outlook.
The board-approved 2026 budget plans revenue of $1.17M, 95% above 2025's actual revenue, and an EBITDA loss of $2.32M funded from the balance sheet.
Revenue of $1.86M was in line with the $1.88M budget, up 7% on a year earlier. EBITDA of $1.18M (63% margin) was on plan. Occupancy across the four buildings was 92%. Nothing in the package changes the full-year view.
The distributed-energy planning module shipped to the two utility customers; pricing is per gigawatt studied. Revenue of $1.15M was 11% ahead of the $1.04M budget, up 51% on a year earlier. The EBITDA loss of $687K leaves $5.54M of cash, about 24 months at that burn.
Revenue of $3.84M was in line with the $3.84M budget, up 15% on a year earlier. EBITDA of $517K (13% margin) was on plan. Nothing in the package changes the full-year view.
03-31
Copper Creek Mining Services
Copper Creek misses its Q1 2026 plan by 20%
Significant
Update
5 figures
Revenue of $3.71M was 20% behind the $4.66M budget, down 8% on a year earlier. EBITDA of $304K (8% margin) was 28% short of plan. Volumes remain well below the acquisition plan, and the lender has been briefed on the reset.
One account worth about 3% of revenue did not renew after an acquisition; net retention for the cohort stays above 100%. Revenue of $1.72M was in line with the $1.76M budget, up 28% on a year earlier. EBITDA of $57K (3% margin) beat plan by 7%.
03-31
Northwind Coffee Roasters
Northwind Coffee: March 2026 revenue 17% behind plan
Significant
Report
5 figures
Revenue of $445K was 17% behind the $536K budget, up 6% on a year earlier. EBITDA of $22K (5% margin) was 19% short of plan. Management has cut the full-year outlook and is holding hiring until volumes recover.
Revenue of $4.01M was in line with the $3.97M budget, up 14% on a year earlier. EBITDA of $546K (14% margin) was 8% short of plan. No changes to the team or the capital structure.
Resin costs rose faster than the pass-through clauses reset, so gross margin dipped for the period. Revenue of $5.56M was 6% behind the $5.89M budget, up 2% on a year earlier. EBITDA of $671K (12% margin) was 12% short of plan.
Revenue of $3.77M was 7% ahead of the $3.51M budget, up 25% on a year earlier. EBITDA of $775K (21% margin) beat plan by 5%. The board asked management to re-base the plan on the current run rate.
Revenue of $4.64M was in line with the $4.61M budget, up 17% on a year earlier. EBITDA of $982K (21% margin) beat plan by 7%. Nothing in the package changes the full-year view.
A venture-debt facility closed alongside the equity, available in two draws tied to revenue milestones. Revenue of $2.51M was 9% ahead of the $2.30M budget, up 82% on a year earlier. The EBITDA loss of $2.11M leaves $15.1M of cash, about 21 months at that burn.
Revenue of $2.35M was 15% behind the $2.76M budget, up 38% on a year earlier. The EBITDA loss of $3.29M leaves $13.9M of cash, about 13 months at that burn. Management has cut the full-year outlook and is holding hiring until volumes recover.
Revenue of $2.93M was 6% ahead of the $2.78M budget, up 39% on a year earlier. EBITDA of $320K (11% margin) was on plan. ARR ended at $33.1M with net revenue retention of 107%. Management reiterates the full-year outlook.
03-31
Bluewater Logistics Group
Bluewater: March 2026 revenue 33% behind plan
Significant
Report
5 figures
Revenue of $1.74M was 33% behind the $2.60M budget, down 13% on a year earlier. EBITDA of $105K (6% margin) was 33% short of plan. The business is still well short of the plan set at acquisition; the board is reviewing the cost base.
Revenue of $5.74M was 7% ahead of the $5.38M budget, up 31% on a year earlier. EBITDA of $1.34M (23% margin) was on plan. Originations were $58.8M. The board asked management to re-base the plan on the current run rate.
Revenue of $3.30M was 5% ahead of the $3.15M budget, up 23% on a year earlier. EBITDA of $584K (18% margin) beat plan by 9%. Average daily census was 1,440. The full-year plan is unchanged; the beat is mostly volume.
Revenue of $1.65M was 4% behind the $1.72M budget, up 26% on a year earlier. EBITDA of $51K (3% margin) was on plan. The shortfall is concentrated in two accounts; management expects to recover it by year-end.
02-28
Northwind Coffee Roasters
Northwind Coffee: February 2026 revenue 19% behind plan
Significant
Report
5 figures
Revenue of $427K was 19% behind the $528K budget, up 4% on a year earlier. EBITDA of $23K (5% margin) was 13% short of plan. The business is still well short of the plan set at acquisition; the board is reviewing the cost base.
Revenue of $4.07M was 4% ahead of the $3.92M budget, up 20% on a year earlier. EBITDA of $576K (14% margin) was on plan. Management reiterates the full-year outlook.
Revenue of $5.48M was 6% behind the $5.84M budget, up 7% on a year earlier. EBITDA of $711K (13% margin) was 6% short of plan. The shortfall is concentrated in two accounts; management expects to recover it by year-end.
Revenue of $3.71M was 7% ahead of the $3.46M budget, up 25% on a year earlier. EBITDA of $751K (20% margin) was on plan. The board asked management to re-base the plan on the current run rate.
Revenue of $4.60M was in line with the $4.56M budget, up 14% on a year earlier. EBITDA of $1.01M (22% margin) beat plan by 10%. Nothing in the package changes the full-year view.
A chief revenue officer joined from a larger vertical-software company to rebuild the mid-market sales team. Revenue of $2.84M was 5% ahead of the $2.71M budget, up 40% on a year earlier. EBITDA of $303K (11% margin) was on plan.
Two Midwest terminals were combined to take out fixed cost after the volume decline; closure costs ran through the period. Revenue of $1.75M was 32% behind the $2.57M budget, down 12% on a year earlier. EBITDA of $96K (5% margin) was 38% short of plan.
Revenue of $5.58M was 6% ahead of the $5.28M budget, up 27% on a year earlier. EBITDA of $1.39M (25% margin) beat plan by 10%. Originations were $57.5M. The full-year plan is unchanged; the beat is mostly volume.
Revenue of $3.25M was 5% ahead of the $3.10M budget, up 21% on a year earlier. EBITDA of $585K (18% margin) beat plan by 11%. Average daily census was 1,449. The full-year plan is unchanged; the beat is mostly volume.
Revenue of $1.68M was in line with the $1.69M budget, up 34% on a year earlier. EBITDA of $54K (3% margin) beat plan by 6%. Nothing in the package changes the full-year view.
01-31
Northwind Coffee Roasters
Northwind Coffee: January 2026 revenue 16% behind plan
Significant
Report
5 figures
Revenue of $435K was 16% behind the $520K budget, up 5% on a year earlier. EBITDA of $22K (5% margin) was 15% short of plan. Management has cut the full-year outlook and is holding hiring until volumes recover.
Revenue of $3.98M was in line with the $3.87M budget, up 19% on a year earlier. EBITDA of $653K (16% margin) beat plan by 12%. No changes to the team or the capital structure.
Revenue of $5.77M was in line with the $5.79M budget, up 11% on a year earlier. EBITDA of $678K (12% margin) was 10% short of plan. Nothing in the package changes the full-year view.
Revenue of $3.47M was in line with the $3.40M budget, up 24% on a year earlier. EBITDA of $658K (19% margin) was 8% short of plan. Nothing in the package changes the full-year view.
Revenue of $4.49M was in line with the $4.51M budget, up 11% on a year earlier. EBITDA of $838K (19% margin) was 7% short of plan. Nothing in the package changes the full-year view.
Revenue of $2.79M was 6% ahead of the $2.64M budget, up 38% on a year earlier. EBITDA of $308K (11% margin) beat plan by 6%. ARR ended at $31.3M with net revenue retention of 106%. Management reiterates the full-year outlook.
01-31
Bluewater Logistics Group
Bluewater: January 2026 revenue 32% behind plan
Significant
Report
5 figures
Revenue of $1.73M was 32% behind the $2.54M budget, down 15% on a year earlier. EBITDA of $102K (6% margin) was 33% short of plan. The business is still well short of the plan set at acquisition; the board is reviewing the cost base.
Revenue of $5.38M was 4% ahead of the $5.19M budget, up 28% on a year earlier. EBITDA of $1.33M (25% margin) beat plan by 7%. Originations were $55.9M. The full-year plan is unchanged; the beat is mostly volume.
Revenue of $3.08M was in line with the $3.06M budget, up 18% on a year earlier. EBITDA of $535K (17% margin) was on plan. Average daily census was 1,422. Nothing in the package changes the full-year view.
The board-approved 2026 budget plans revenue of $36.5M, 30% above 2025's actual revenue, and EBITDA of $4.01M, a 11% margin.
The board-approved 2026 budget plans revenue of $7.69M, 7% above 2025's actual revenue, and EBITDA of $4.85M, a 63% margin.
The board-approved 2026 budget plans revenue of $72.7M, 13% above 2025's actual revenue, and EBITDA of $9.45M, a 13% margin.
The board-approved 2026 budget plans revenue of $68.8M, 19% above 2025's actual revenue, and EBITDA of $16.5M, a 24% margin.
The board-approved 2026 budget plans revenue of $4.76M, 31% above 2025's actual revenue, and an EBITDA loss of $2.35M funded from the balance sheet.
The board-approved 2026 budget plans revenue of $11.3M, 57% above 2025's actual revenue, and an EBITDA loss of $8.68M funded from the balance sheet.
The board-approved 2026 budget plans revenue of $39.7M, 16% above 2025's actual revenue, and EBITDA of $6.75M, a 17% margin.
The board-approved 2026 budget plans revenue of $6.79M, 33% above 2025's actual revenue, and EBITDA of $339K, a 5% margin.
The board-approved 2026 budget plans revenue of $32.6M, 44% above 2025's actual revenue, and EBITDA of $1.96M, a 6% margin.
The board-approved 2026 budget plans revenue of $44.6M, 16% above 2025's actual revenue, and EBITDA of $9.37M, a 21% margin.
The board-approved 2026 budget plans revenue of $13.2M, 73% above 2025's actual revenue, and an EBITDA loss of $15.5M funded from the balance sheet.
The board-approved 2025 budget plans revenue of $8.39M, 56% above 2024's actual revenue, and an EBITDA loss of $9.82M funded from the balance sheet.
The board-approved 2024 budget plans revenue of $5.33M, 40% above 2023's actual revenue, and an EBITDA loss of $6.24M funded from the balance sheet.
The board-approved 2026 budget plans revenue of $22.9M, 31% above 2025's actual revenue, and EBITDA of $686K, a 3% margin.
The board-approved 2026 budget plans revenue of $49.7M, 14% above 2025's actual revenue, and EBITDA of $7.45M, a 15% margin.
The board-approved 2026 budget plans revenue of $57.3M, 14% above 2025's actual revenue, and EBITDA of $11.5M, a 20% margin.
The board-approved 2026 budget plans revenue of $16.4M, 17% above 2025's actual revenue, and EBITDA of $2.30M, a 14% margin.
The board-approved 2026 budget plans revenue of $18.9M, 20% above 2025's actual revenue, and EBITDA of $1.70M, a 9% margin.
2025
The auditors issued an unqualified opinion on FY2025. Audited revenue of $7.20M and EBITDA of $4.63M agree with the quarterly packages to within 0.7%; no adjustments were booked.
Revenue of $1.81M was in line with the $1.85M budget, up 2% on a year earlier. EBITDA of $1.17M (65% margin) was on plan. Occupancy across the four buildings was 92%. Nothing in the package changes the full-year view.
The auditors issued an unqualified opinion on FY2025. Audited revenue of $3.62M and an EBITDA loss of $1.99M agree with the monthly packages to within 0.3%; no adjustments were booked.
Revenue of $1.04M was 9% ahead of the $954K budget, up 52% on a year earlier. The EBITDA loss of $580K leaves $6.25M of cash, about 32 months at that burn. Management raised the full-year revenue outlook.
The auditors issued an unqualified opinion on FY2025. Audited revenue of $14.0M and EBITDA of $2.01M agree with the monthly packages to within 0.3%; no adjustments were booked.
A four-clinic veterinary group joined in the quarter, funded from the delayed-draw facility. Revenue of $3.69M was in line with the $3.68M budget, up 21% on a year earlier. EBITDA of $530K (14% margin) was on plan.
The auditors issued an unqualified opinion on FY2025. Audited revenue of $15.8M and EBITDA of $1.46M agree with the quarterly packages to within 0.7%; no adjustments were booked.
12-31
Copper Creek Mining Services
Copper Creek misses its Q4 2025 plan by 17%
Significant
Update
5 figures
Revenue of $3.83M was 17% behind the $4.61M budget, down 7% on a year earlier. EBITDA of $320K (8% margin) was 23% short of plan. The full-year plan has been reset lower and a cost programme is under way.
The auditors issued an unqualified opinion on FY2025. Audited revenue of $17.5M and EBITDA of $525K agree with the monthly packages to within 0.1%; no adjustments were booked.
Revenue of $1.66M was in line with the $1.65M budget, up 35% on a year earlier. EBITDA of $54K (3% margin) beat plan by 8%. Nothing in the package changes the full-year view.
The auditors issued an unqualified opinion on FY2025. Audited revenue of $5.09M and EBITDA of $253K agree with the monthly packages to within 0.2%; no adjustments were booked.
12-31
Northwind Coffee Roasters
Northwind Coffee: December 2025 revenue 13% behind plan
Significant
Report
5 figures
Revenue of $448K was 13% behind the $513K budget, up 8% on a year earlier. EBITDA of $23K (5% margin) was 11% short of plan. Management has cut the full-year outlook and is holding hiring until volumes recover.
The auditors issued an unqualified opinion on FY2025. Audited revenue of $43.4M and EBITDA of $6.57M agree with the monthly packages to within 0.1%; no adjustments were booked.
Revenue of $3.90M was in line with the $3.83M budget, up 18% on a year earlier. EBITDA of $554K (14% margin) was on plan. No changes to the team or the capital structure.
The auditors issued an unqualified opinion on FY2025. Audited revenue of $64.2M and EBITDA of $8.36M agree with the quarterly packages to within 0.7%; no adjustments were booked.
Revenue of $5.48M was 5% behind the $5.75M budget, up 4% on a year earlier. EBITDA of $679K (12% margin) was 9% short of plan. The shortfall is concentrated in two accounts; management expects to recover it by year-end.
12-31
Tessera Diagnostics
Tessera answers an FDA additional-information request
Significant
Update
2 figures
The agency asked for additional analytical data; the company expects to respond within the allowed period.
The auditors issued an unqualified opinion on FY2025. Audited revenue of $38.3M and EBITDA of $7.96M agree with the monthly packages to within 0.4%; no adjustments were booked.
12-31
Clearwater Dental Partners
Clearwater slightly ahead of plan in December 2025
Report
5 figures
Revenue of $3.46M was 3% ahead of the $3.35M budget, up 21% on a year earlier. EBITDA of $735K (21% margin) was on plan. The full-year plan is unchanged; the beat is mostly volume.
The auditors issued an unqualified opinion on FY2025. Audited revenue of $50.2M and EBITDA of $9.97M agree with the monthly packages to within 0.2%; no adjustments were booked.
Revenue of $4.36M was in line with the $4.47M budget, up 12% on a year earlier. EBITDA of $822K (19% margin) was 8% short of plan. Nothing in the package changes the full-year view.
The auditors' opinion on FY2025 includes a going-concern paragraph pending the next financing. Audited revenue of $7.24M and an EBITDA loss of $6.06M agree with the packages to within 0.5%.
Revenue of $2.27M was 12% ahead of the $2.02M budget, up 84% on a year earlier. The EBITDA loss of $1.83M leaves $17.2M of cash, about 28 months at that burn. Management raised the full-year revenue outlook.
The auditors' opinion on FY2025 includes a going-concern paragraph pending the next financing. Audited revenue of $7.65M and an EBITDA loss of $9.72M agree with the packages to within 0.5%.
A historical quarterly package shared before closing. Revenue of $2.12M and EBITDA of -$2.71M for Q4 2025, read for the history rather than as a report to us.
The auditors issued an unqualified opinion on FY2025. Audited revenue of $28.1M and EBITDA of $3.10M agree with the quarterly packages to within 0.6%; no adjustments were booked.
Revenue of $2.73M was 6% ahead of the $2.58M budget, up 44% on a year earlier. EBITDA of $276K (10% margin) was on plan. ARR ended at $30.5M with net revenue retention of 109%. Management reiterates the full-year outlook.
The auditors issued an unqualified opinion on FY2025. Audited revenue of $22.6M and EBITDA of $1.39M agree with the quarterly packages to within 0.5%; no adjustments were booked.
12-31
Bluewater Logistics Group
Bluewater: December 2025 revenue 29% behind plan
Significant
Report
5 figures
Revenue of $1.78M was 29% behind the $2.51M budget, down 14% on a year earlier. EBITDA of $106K (6% margin) was 30% short of plan. The business is still well short of the plan set at acquisition; the board is reviewing the cost base.
The auditors issued an unqualified opinion on FY2025. Audited revenue of $57.7M and EBITDA of $13.6M agree with the monthly packages to within 0.3%; no adjustments were booked.
Revenue of $5.42M was 6% ahead of the $5.10M budget, up 31% on a year earlier. EBITDA of $1.20M (22% margin) was on plan. Originations were $55.7M. The board asked management to re-base the plan on the current run rate.
The auditors issued an unqualified opinion on FY2025. Audited revenue of $34.1M and EBITDA of $5.72M agree with the monthly packages to within 0.4%; no adjustments were booked.
Revenue of $3.04M was in line with the $3.02M budget, up 20% on a year earlier. EBITDA of $507K (17% margin) was on plan. Average daily census was 1,423. Nothing in the package changes the full-year view.
11-30
Vantage Point Analytics
Vantage Point: November 2025 revenue 4% short of budget
Report
5 figures
Revenue of $1.55M was 4% behind the $1.61M budget, up 27% on a year earlier. EBITDA of $45K (3% margin) was 8% short of plan. Management puts the gap down to timing and keeps the full-year plan.
11-30
Northwind Coffee Roasters
Northwind Coffee misses its November 2025 plan by 13%
Significant
Report
5 figures
Revenue of $441K was 13% behind the $505K budget, up 8% on a year earlier. EBITDA of $22K (5% margin) was 14% short of plan. The full-year plan has been reset lower and a cost programme is under way.
Revenue of $3.80M was in line with the $3.78M budget, up 14% on a year earlier. EBITDA of $517K (14% margin) was 9% short of plan. Nothing in the package changes the full-year view.
Revenue of $5.53M was 3% behind the $5.70M budget, up 4% on a year earlier. EBITDA of $682K (12% margin) was 8% short of plan. Management puts the gap down to timing and keeps the full-year plan.
11-30
Clearwater Dental Partners
Clearwater: November 2025 revenue 4% ahead of budget
Report
5 figures
Revenue of $3.44M was 4% ahead of the $3.30M budget, up 28% on a year earlier. EBITDA of $717K (21% margin) was on plan. Management reiterates the full-year outlook.
Revenue of $4.35M was in line with the $4.43M budget, up 9% on a year earlier. EBITDA of $850K (20% margin) was on plan. No changes to the team or the capital structure.
Revenue of $2.63M was 5% ahead of the $2.52M budget, up 40% on a year earlier. EBITDA of $267K (10% margin) was on plan. ARR ended at $29.9M with net revenue retention of 109%. The full-year plan is unchanged; the beat is mostly volume.
11-30
Bluewater Logistics Group
Bluewater misses its November 2025 plan by 30%
Significant
Report
5 figures
Revenue of $1.74M was 30% behind the $2.48M budget, down 17% on a year earlier. EBITDA of $104K (6% margin) was 30% short of plan. Volumes remain well below the acquisition plan, and the lender has been briefed on the reset.
Revenue of $5.20M was 4% ahead of the $5.01M budget, up 24% on a year earlier. EBITDA of $1.15M (22% margin) was on plan. Originations were $53.7M. Management reiterates the full-year outlook.
Revenue of $3.03M was in line with the $2.98M budget, up 17% on a year earlier. EBITDA of $466K (15% margin) was 8% short of plan. Average daily census was 1,369. No changes to the team or the capital structure.
The acquisition by a payments consolidator closed in October 2025 at 3.6x cost. All proceeds were received in cash at closing.
Revenue of $1.60M was in line with the $1.58M budget, up 31% on a year earlier. EBITDA of $50K (3% margin) beat plan by 6%. Nothing in the package changes the full-year view.
A second café opened near the roastery; it doubles as the training site for wholesale accounts. Revenue of $437K was 12% behind the $498K budget, up 8% on a year earlier. EBITDA of $22K (5% margin) was 13% short of plan.
Two branches opened in adjacent counties to serve hospital referral partners; both are staffing to plan. Revenue of $3.75M was in line with the $3.74M budget, up 16% on a year earlier. EBITDA of $595K (16% margin) beat plan by 6%.
Revenue of $5.42M was 4% behind the $5.66M budget, up 8% on a year earlier. EBITDA of $684K (13% margin) was 7% short of plan. The shortfall is concentrated in two accounts; management expects to recover it by year-end.
Revenue of $3.43M was 6% ahead of the $3.25M budget, up 27% on a year earlier. EBITDA of $648K (19% margin) was on plan. The full-year plan is unchanged; the beat is mostly volume.
Revenue of $4.29M was in line with the $4.38M budget, up 8% on a year earlier. EBITDA of $866K (20% margin) was on plan. Nothing in the package changes the full-year view.
Revenue of $2.57M was 5% ahead of the $2.45M budget, up 41% on a year earlier. EBITDA of $273K (11% margin) was on plan. ARR ended at $28.5M with net revenue retention of 109%. Management reiterates the full-year outlook.
10-31
Bluewater Logistics Group
Bluewater: October 2025 revenue 25% behind plan
Significant
Report
5 figures
Revenue of $1.84M was 25% behind the $2.45M budget, down 10% on a year earlier. EBITDA of $119K (6% margin) was 19% short of plan. The business is still well short of the plan set at acquisition; the board is reviewing the cost base.
Revenue of $5.10M was 4% ahead of the $4.92M budget, up 30% on a year earlier. EBITDA of $1.15M (22% margin) was on plan. Originations were $52.6M. The full-year plan is unchanged; the beat is mostly volume.
A 60-bed rehabilitation facility in the same metro closed, funded from the delayed-draw term loan; integration runs over two quarters. Revenue of $3.03M was 3% ahead of the $2.94M budget, up 25% on a year earlier. EBITDA of $484K (16% margin) was on plan.
Revenue of $1.85M was in line with the $1.83M budget, up 5% on a year earlier. EBITDA of $1.16M (62% margin) was on plan. Occupancy across the four buildings was 95%. No changes to the team or the capital structure.
A payments consolidator made an approach; the board has engaged advisers and is running a short process. Revenue of $7.91M was 8% ahead of the $7.33M budget, up 28% on a year earlier. EBITDA of $634K (8% margin) beat plan by 8%.
Revenue of $952K was 9% ahead of the $875K budget, up 49% on a year earlier. The EBITDA loss of $494K leaves $6.85M of cash, about 42 months at that burn. The board asked management to re-base the plan on the current run rate.
Revenue of $3.52M was in line with the $3.52M budget, up 19% on a year earlier. EBITDA of $490K (14% margin) was on plan. No changes to the team or the capital structure.
09-30
Copper Creek Mining Services
Copper Creek: Q3 2025 revenue 15% behind plan
Significant
Update
5 figures
Revenue of $3.89M was 15% behind the $4.56M budget, down 5% on a year earlier. EBITDA of $379K (10% margin) was 8% short of plan. Management has cut the full-year outlook and is holding hiring until volumes recover.
A 90-store grocery chain signed a multi-year licence, the largest new logo of the year. Revenue of $1.56M was in line with the $1.55M budget, up 30% on a year earlier. EBITDA of $45K (3% margin) was on plan.
09-30
Northwind Coffee Roasters
Northwind Coffee misses its September 2025 plan by 15%
Significant
Report
5 figures
Revenue of $419K was 15% behind the $490K budget. EBITDA of $22K (5% margin) was 9% short of plan. The full-year plan has been reset lower and a cost programme is under way.
Revenue of $3.79M was in line with the $3.69M budget, up 16% on a year earlier. EBITDA of $575K (15% margin) was on plan. Nothing in the package changes the full-year view.
Revenue of $7.18M was 18% behind the $8.74M budget, up 5% on a year earlier. EBITDA of $1.23M (17% margin) was 22% short of plan. RevPAR was $172 on 62% occupancy. The full-year plan has been reset lower and a cost programme is under way.
A second flexographic line came online and is running at about half its planned rate as the new contract ramps. Revenue of $5.37M was 4% behind the $5.61M budget, up 2% on a year earlier. EBITDA of $722K (13% margin) was on plan.
09-30
Tessera Diagnostics
Tessera raises a bridge from existing investors
Significant
Update
2 figures
Existing investors funded a bridge to carry the company through the FDA review; the round prices at the next milestone.
A regional dental plan moved the practices in-network at improved fee schedules from the first of the quarter. Revenue of $3.33M was 4% ahead of the $3.19M budget, up 29% on a year earlier. EBITDA of $655K (20% margin) was on plan.
A five-year award from an engine maker for turbine housings starts shipping next spring at full rate. Revenue of $4.30M was in line with the $4.34M budget, up 11% on a year earlier. EBITDA of $833K (19% margin) was on plan.
Revenue of $1.93M was 9% ahead of the $1.77M budget, up 88% on a year earlier. The EBITDA loss of $1.54M leaves $19.1M of cash, about 37 months at that burn. The board asked management to re-base the plan on the current run rate.
A historical quarterly package shared before closing. Revenue of $2.03M and EBITDA of -$2.75M for Q3 2025, read for the history rather than as a report to us.
Revenue of $2.50M was 4% ahead of the $2.39M budget, up 44% on a year earlier. EBITDA of $299K (12% margin) beat plan by 13%. ARR ended at $28.7M with net revenue retention of 109%. The full-year plan is unchanged; the beat is mostly volume.
09-30
Bluewater Logistics Group
Bluewater misses its September 2025 plan by 27%
Significant
Report
5 figures
Revenue of $1.77M was 27% behind the $2.42M budget, down 15% on a year earlier. EBITDA of $97K (6% margin) was 33% short of plan. Volumes remain well below the acquisition plan, and the lender has been briefed on the reset.
Revenue of $5.18M was 7% ahead of the $4.83M budget, up 34% on a year earlier. EBITDA of $1.29M (25% margin) beat plan by 11%. Originations were $52.7M. Management raised the full-year revenue outlook.
Revenue of $2.92M was in line with the $2.89M budget, up 20% on a year earlier. EBITDA of $452K (16% margin) was 8% short of plan. Average daily census was 1,359. No changes to the team or the capital structure.
Revenue of $1.51M was in line with the $1.51M budget, up 6% on the prior month. EBITDA of $47K (3% margin) was on plan. Nothing in the package changes the full-year view.
08-31
Northwind Coffee Roasters
Northwind Coffee: August 2025 revenue 14% behind plan
Significant
Report
5 figures
Revenue of $416K was 14% behind the $483K budget. EBITDA of $22K (5% margin) was 10% short of plan. Management has cut the full-year outlook and is holding hiring until volumes recover.
Revenue of $3.66M was in line with the $3.65M budget, up 1% on the prior month. EBITDA of $583K (16% margin) beat plan by 7%. No changes to the team or the capital structure.
Revenue of $5.30M was 5% behind the $5.57M budget, down 1% on the prior month. EBITDA of $732K (14% margin) was on plan. The shortfall is concentrated in two accounts; management expects to recover it by year-end.
Revenue of $3.28M was 4% ahead of the $3.14M budget. EBITDA of $671K (20% margin) was on plan. The full-year plan is unchanged; the beat is mostly volume.
Revenue of $4.12M was 4% behind the $4.30M budget, up 1% on the prior month. EBITDA of $820K (20% margin) was on plan. The shortfall is concentrated in two accounts; management expects to recover it by year-end.
A 140-location operator signed a three-year subscription, the largest contract in the company's history. Revenue of $2.36M was in line with the $2.34M budget, down 2% on the prior month. EBITDA of $282K (12% margin) beat plan by 10%.
The tractor and trailer notes were folded into one facility with a longer amortization, easing monthly debt service. Revenue of $1.83M was 23% behind the $2.39M budget, down 3% on the prior month. EBITDA of $118K (6% margin) was 18% short of plan.
A small-business term loan went live in three states; volume is modest while the credit box is tested. Revenue of $5.06M was 7% ahead of the $4.75M budget, up 5% on the prior month. EBITDA of $1.20M (24% margin) beat plan by 6%.
Revenue of $3.00M was 5% ahead of the $2.85M budget, up 8% on the prior month. EBITDA of $462K (15% margin) was on plan. Average daily census was 1,361. The full-year plan is unchanged; the beat is mostly volume.
Revenue of $1.43M was 3% behind the $1.48M budget, up 2% on the prior month. EBITDA of $46K (3% margin) was on plan. Management puts the gap down to timing and keeps the full-year plan.
07-31
Northwind Coffee Roasters
Northwind Coffee misses its July 2025 plan by 13%
Significant
Report
5 figures
Revenue of $415K was 13% behind the $476K budget. EBITDA of $19K (5% margin) was 20% short of plan. The full-year plan has been reset lower and a cost programme is under way.
Revenue of $3.63M was in line with the $3.61M budget, up 1% on the prior month. EBITDA of $569K (16% margin) beat plan by 5%. Nothing in the package changes the full-year view.
Revenue of $5.36M was in line with the $5.52M budget, up 1% on the prior month. EBITDA of $647K (12% margin) was 10% short of plan. No changes to the team or the capital structure.
Revenue of $3.28M was 6% ahead of the $3.09M budget, up 5% on the prior month. EBITDA of $678K (21% margin) was on plan. Management raised the full-year revenue outlook.
Revenue of $4.10M was 4% behind the $4.25M budget, down 4% on the prior month. EBITDA of $901K (22% margin) beat plan by 6%. Management puts the gap down to timing and keeps the full-year plan.
Revenue of $2.40M was 5% ahead of the $2.28M budget, up 7% on the prior month. EBITDA of $276K (11% margin) beat plan by 10%. ARR ended at $26.6M with net revenue retention of 106%. The full-year plan is unchanged; the beat is mostly volume.
07-31
Bluewater Logistics Group
Bluewater misses its July 2025 plan by 20%
Significant
Report
5 figures
Revenue of $1.89M was 20% behind the $2.37M budget, down 1% on the prior month. EBITDA of $123K (6% margin) was 13% short of plan. Volumes remain well below the acquisition plan, and the lender has been briefed on the reset.
Revenue of $4.81M was 3% ahead of the $4.66M budget, up 1% on the prior month. EBITDA of $1.07M (22% margin) was on plan. Originations were $50.3M. Management reiterates the full-year outlook.
Revenue of $2.79M was in line with the $2.82M budget, down 3% on the prior month. EBITDA of $498K (18% margin) was on plan. Average daily census was 1,321. No changes to the team or the capital structure.
Revenue of $1.80M was in line with the $1.80M budget, up 4% on the prior quarter. EBITDA of $1.22M (68% margin) beat plan by 8%. Occupancy across the four buildings was 92%. Nothing in the package changes the full-year view.
Revenue of $7.18M was 4% ahead of the $6.92M budget, up 30% on a year earlier. EBITDA of $595K (8% margin) beat plan by 8%. Management reiterates the full-year outlook.
A referral agreement with the local hospital system covers post-acute placements at the memory-care wing.
A second investor-owned utility signed a three-year subscription for interconnection planning. Revenue of $868K was 8% ahead of the $803K budget, up 14% on the prior quarter. The EBITDA loss of $503K leaves $7.36M of cash, about 44 months at that burn.
Revenue of $3.46M was in line with the $3.37M budget, up 3% on the prior quarter. EBITDA of $512K (15% margin) beat plan by 9%. Nothing in the package changes the full-year view.
The haul-truck fleet was refinanced with the incumbent lender at a fixed rate through 2029. Revenue of $3.98M was 12% behind the $4.52M budget, down 6% on a year earlier. EBITDA of $394K (10% margin) was on plan.
Revenue of $1.39M was 4% behind the $1.45M budget, down 3% on the prior month. EBITDA of $42K (3% margin) was on plan. The shortfall is concentrated in two accounts; management expects to recover it by year-end.
06-30
Northwind Coffee Roasters
Northwind Coffee: June 2025 revenue 11% behind plan
Significant
Report
5 figures
Revenue of $417K was 11% behind the $469K budget, down 2% on the prior month. EBITDA of $20K (5% margin) was 13% short of plan. Management has cut the full-year outlook and is holding hiring until volumes recover.
Revenue of $3.58M was in line with the $3.56M budget, up 1% on the prior month. EBITDA of $560K (16% margin) was on plan. No changes to the team or the capital structure.
06-30
Granite Peak Resort
Granite Peak: Q2 2025 revenue 17% behind plan
Significant
Update
5 figures
Revenue of $7.02M was 17% behind the $8.49M budget, up 2% on a year earlier. EBITDA of $1.19M (17% margin) was 22% short of plan. RevPAR was $172 on 63% occupancy. Management has cut the full-year outlook and is holding hiring until volumes recover.
Revenue of $5.29M was 4% behind the $5.48M budget, up 1% on the prior month. EBITDA of $688K (13% margin) was on plan. The shortfall is concentrated in two accounts; management expects to recover it by year-end.
Two academic medical centers signed pilot agreements that start on clearance, bringing the total to eleven.
Revenue of $3.13M was in line with the $3.05M budget. EBITDA of $722K (23% margin) beat plan by 13%. Nothing in the package changes the full-year view.
Revenue of $4.28M was in line with the $4.21M budget, up 3% on the prior month. EBITDA of $816K (19% margin) was on plan. Nothing in the package changes the full-year view.
The first production cells shipped to a second automaker's plant; acceptance testing finished on schedule. Revenue of $1.66M was 7% ahead of the $1.56M budget, up 20% on the prior quarter. The EBITDA loss of $1.42M leaves $20.7M of cash, about 44 months at that burn.
A historical quarterly package shared before closing. Revenue of $1.81M and EBITDA of -$2.17M for Q2 2025, read for the history rather than as a report to us.
Revenue of $2.25M was in line with the $2.22M budget, up 1% on the prior month. EBITDA of $269K (12% margin) beat plan by 10%. ARR ended at $26.2M with net revenue retention of 108%. No changes to the team or the capital structure.
06-30
Bluewater Logistics Group
Bluewater: June 2025 revenue 18% behind plan
Significant
Report
5 figures
Revenue of $1.91M was 18% behind the $2.34M budget, down 2% on the prior month. EBITDA of $105K (6% margin) was 25% short of plan. The business is still well short of the plan set at acquisition; the board is reviewing the cost base.
Revenue of $4.78M was 4% ahead of the $4.58M budget, up 4% on the prior month. EBITDA of $1.26M (26% margin) beat plan by 15%. Originations were $48.5M. The full-year plan is unchanged; the beat is mostly volume.
Revenue of $2.88M was 4% ahead of the $2.78M budget, up 6% on the prior month. EBITDA of $511K (18% margin) beat plan by 8%. Average daily census was 1,301. The full-year plan is unchanged; the beat is mostly volume.
Revenue of $1.44M was in line with the $1.42M budget, up 3% on the prior month. EBITDA of $40K (3% margin) was 6% short of plan. No changes to the team or the capital structure.
Revenue of $427K was 8% behind the $462K budget, down 1% on the prior month. EBITDA of $21K (5% margin) was 9% short of plan. The shortfall is concentrated in two accounts; management expects to recover it by year-end.
Revenue of $3.54M was in line with the $3.52M budget, up 1% on the prior month. EBITDA of $484K (14% margin) was 8% short of plan. Nothing in the package changes the full-year view.
Revenue of $5.22M was 4% behind the $5.44M budget, down 4% on the prior month. EBITDA of $734K (14% margin) was on plan. Management puts the gap down to timing and keeps the full-year plan.
Revenue of $3.14M was 5% ahead of the $3.00M budget, up 2% on the prior month. EBITDA of $635K (20% margin) was on plan. Management reiterates the full-year outlook.
Revenue of $4.16M was in line with the $4.17M budget. EBITDA of $874K (21% margin) was on plan. No changes to the team or the capital structure.
Revenue of $2.23M was in line with the $2.17M budget, up 1% on the prior month. EBITDA of $243K (11% margin) was on plan. ARR ended at $25.3M with net revenue retention of 107%. Nothing in the package changes the full-year view.
05-31
Bluewater Logistics Group
Bluewater misses its May 2025 plan by 16%
Significant
Report
5 figures
Revenue of $1.94M was 16% behind the $2.31M budget, up 3% on the prior month. EBITDA of $123K (6% margin) was 12% short of plan. The full-year plan has been reset lower and a cost programme is under way.
Revenue of $4.62M was in line with the $4.50M budget, up 1% on the prior month. EBITDA of $1.16M (25% margin) beat plan by 7%. Originations were $48.7M. No changes to the team or the capital structure.
Revenue of $2.71M was in line with the $2.74M budget. EBITDA of $495K (18% margin) beat plan by 6%. Average daily census was 1,286. No changes to the team or the capital structure.
04-30
Ironwood Precision Optics
Ironwood Precision Optics sold to a strategic buyer at 2.85x
Significant
Update
The sale to a listed optics group closed in April 2025; proceeds of $11.4M were received in full and the escrow was released after twelve months.
Revenue of $1.41M was in line with the $1.39M budget, up 5% on the prior month. EBITDA of $40K (3% margin) was on plan. Nothing in the package changes the full-year view.
04-30
Northwind Coffee Roasters
Northwind Coffee absorbs a green-coffee price spike
Report
5 figures
Green-coffee costs rose sharply; a price increase on wholesale accounts takes effect next month. Revenue of $432K was 5% behind the $455K budget, up 3% on the prior month. EBITDA of $21K (5% margin) was 8% short of plan.
The final home-health rate update came in slightly below the proposal; management has built it into next year's plan. Revenue of $3.50M was in line with the $3.48M budget. EBITDA of $514K (15% margin) was on plan.
Revenue of $5.44M was in line with the $5.39M budget. EBITDA of $649K (12% margin) was 7% short of plan. Nothing in the package changes the full-year view.
Revenue of $3.07M was 4% ahead of the $2.95M budget, up 2% on the prior month. EBITDA of $623K (20% margin) was on plan. The full-year plan is unchanged; the beat is mostly volume.
Revenue of $4.16M was in line with the $4.13M budget, up 5% on the prior month. EBITDA of $886K (21% margin) beat plan by 7%. Nothing in the package changes the full-year view.
Revenue of $2.22M was 5% ahead of the $2.12M budget, up 5% on the prior month. EBITDA of $240K (11% margin) was on plan. ARR ended at $24.9M with net revenue retention of 109%. Management reiterates the full-year outlook.
04-30
Bluewater Logistics Group
Bluewater: April 2025 revenue 17% behind plan
Significant
Report
5 figures
Revenue of $1.89M was 17% behind the $2.28M budget, down 5% on the prior month. EBITDA of $122K (6% margin) was 11% short of plan. Management has cut the full-year outlook and is holding hiring until volumes recover.
Revenue of $4.57M was 3% ahead of the $4.42M budget, up 4% on the prior month. EBITDA of $1.02M (22% margin) was on plan. Originations were $47.4M. The full-year plan is unchanged; the beat is mostly volume.
04-30
Alder Health Partners
Alder signs a managed-care contract with a regional plan
Report
5 figures
A three-year contract with a regional Medicare Advantage plan took effect, adding referrals to the two largest facilities. Revenue of $2.71M was in line with the $2.70M budget, up 1% on the prior month. EBITDA of $464K (17% margin) was on plan.
The mortgage on the four buildings was refinanced at a fixed rate for seven years, with a modest cash-out distributed to investors. Revenue of $1.73M was in line with the $1.77M budget, down 2% on the prior quarter. EBITDA of $1.08M (62% margin) was on plan.
Revenue of $7.06M was 8% ahead of the $6.53M budget, up 30% on a year earlier. EBITDA of $592K (8% margin) beat plan by 13%. The board asked management to re-base the plan on the current run rate.
The board engaged a banker to run a sale process; first-round indications came from two strategic buyers. Revenue of $10.8M was in line with the $10.8M budget, up 5% on a year earlier. EBITDA of $1.97M (18% margin) was on plan.
The letter describes resident satisfaction surveys and a dining-program change but again includes no operating figures.
Revenue of $764K was 4% ahead of the $737K budget, up 11% on the prior quarter. The EBITDA loss of $408K leaves $7.88M of cash, about 58 months at that burn. The full-year plan is unchanged; the beat is mostly volume.
Three clinics opened in suburban markets; two are ahead of their first-year visit targets. Revenue of $3.35M was 4% ahead of the $3.22M budget, up 10% on the prior quarter. EBITDA of $476K (14% margin) beat plan by 5%.
03-31
Copper Creek Mining Services
Copper Creek: Q1 2025 revenue 9% behind plan
Significant
Update
5 figures
Revenue of $4.05M was 9% behind the $4.47M budget, down 7% on a year earlier. EBITDA of $370K (9% margin) was 8% short of plan. Management has cut the full-year outlook and is holding hiring until volumes recover.
The forecasting module went live for twelve customers; it is priced as an add-on and is in most new proposals. Revenue of $1.34M was in line with the $1.36M budget, up 2% on the prior month. EBITDA of $38K (3% margin) was 7% short of plan.
03-31
Northwind Coffee Roasters
Northwind Coffee a little behind plan in March 2025
Report
5 figures
Revenue of $419K was 7% behind the $448K budget, up 2% on the prior month. EBITDA of $20K (5% margin) was 9% short of plan. The shortfall is concentrated in two accounts; management expects to recover it by year-end.
Revenue of $3.51M was in line with the $3.44M budget, up 3% on the prior month. EBITDA of $514K (15% margin) was on plan. Nothing in the package changes the full-year view.
A general manager with a larger mountain resort behind her took over operations ahead of the winter season. Revenue of $7.20M was 13% behind the $8.24M budget, up 5% on a year earlier. EBITDA of $1.28M (18% margin) was 14% short of plan.
A national snack brand awarded the company a two-year flexible-packaging contract starting this quarter. Revenue of $5.43M was in line with the $5.35M budget, up 6% on the prior month. EBITDA of $770K (14% margin) beat plan by 11%.
The premarket submission for the sepsis assay was filed; the company expects questions from the agency within ninety days.
Two affiliated practices joined the platform in the period, funded from the acquisition line; both keep their founding dentists. Revenue of $3.01M was 4% ahead of the $2.90M budget, up 2% on the prior month. EBITDA of $673K (22% margin) beat plan by 10%.
The new machining cell was commissioned on schedule and is qualifying parts for the engine-maker program. Revenue of $3.98M was in line with the $4.09M budget, down 1% on the prior month. EBITDA of $742K (19% margin) was 9% short of plan.
Revenue of $1.38M was in line with the $1.36M budget, up 12% on the prior quarter. The EBITDA loss of $1.27M leaves $22.1M of cash, about 52 months at that burn. Nothing in the package changes the full-year view.
A historical quarterly package shared before closing. Revenue of $1.70M and EBITDA of -$2.09M for Q1 2025, read for the history rather than as a report to us.
Revenue of $2.10M was in line with the $2.06M budget, up 3% on the prior month. EBITDA of $222K (11% margin) was on plan. ARR ended at $24.8M with net revenue retention of 110%. Nothing in the package changes the full-year view.
03-31
Bluewater Logistics Group
Bluewater misses its March 2025 plan by 12%
Significant
Report
5 figures
Revenue of $2.00M was 12% behind the $2.26M budget, up 1% on the prior month. EBITDA of $128K (6% margin) was 5% short of plan. The full-year plan has been reset lower and a cost programme is under way.
Revenue of $4.38M was in line with the $4.34M budget. EBITDA of $1.04M (24% margin) was on plan. Originations were $45.7M. No changes to the team or the capital structure.
Revenue of $2.68M was in line with the $2.66M budget. EBITDA of $418K (16% margin) was 8% short of plan. Average daily census was 1,282. No changes to the team or the capital structure.
Revenue of $1.31M was in line with the $1.33M budget, up 5% on the prior month. EBITDA of $40K (3% margin) was on plan. No changes to the team or the capital structure.
02-28
Northwind Coffee Roasters
Northwind Coffee a little behind plan in February 2025
Report
5 figures
Revenue of $411K was 7% behind the $442K budget. EBITDA of $19K (5% margin) was 16% short of plan. The shortfall is concentrated in two accounts; management expects to recover it by year-end.
Revenue of $3.40M was in line with the $3.40M budget, up 1% on the prior month. EBITDA of $551K (16% margin) beat plan by 8%. Nothing in the package changes the full-year view.
Revenue of $5.11M was 4% behind the $5.31M budget, down 2% on the prior month. EBITDA of $638K (12% margin) was 8% short of plan. Management puts the gap down to timing and keeps the full-year plan.
02-28
Clearwater Dental Partners
Clearwater: February 2025 revenue 4% ahead of budget
Report
5 figures
Revenue of $2.97M was 4% ahead of the $2.86M budget, up 6% on the prior month. EBITDA of $565K (19% margin) was 6% short of plan. Management reiterates the full-year outlook.
Revenue of $4.03M was in line with the $4.05M budget. EBITDA of $739K (18% margin) was 9% short of plan. No changes to the team or the capital structure.
Payments went live for the first forty customers; attach rates on new sales are running ahead of the plan. Revenue of $2.04M was in line with the $2.01M budget, up 1% on the prior month. EBITDA of $244K (12% margin) beat plan by 10%.
02-28
Bluewater Logistics Group
Bluewater loses its second-largest shipper
Significant
Report
5 figures
A retail customer worth about 9% of revenue took its freight in-house at contract end; the affected terminal is being resized. Revenue of $1.98M was 11% behind the $2.23M budget, down 3% on the prior month. EBITDA of $119K (6% margin) was 11% short of plan.
The warehouse line with the lead bank was upsized and extended to 2028 at a lower spread. Revenue of $4.38M was in line with the $4.26M budget, up 5% on the prior month. EBITDA of $1.13M (26% margin) beat plan by 11%.
Revenue of $2.68M was in line with the $2.63M budget, up 3% on the prior month. EBITDA of $489K (18% margin) beat plan by 10%. Average daily census was 1,234. No changes to the team or the capital structure.
01-31
Vantage Point Analytics
Vantage Point: January 2025 revenue 3% short of budget
Report
5 figures
Revenue of $1.25M was 3% behind the $1.30M budget, up 2% on the prior month. EBITDA of $39K (3% margin) was on plan. Management puts the gap down to timing and keeps the full-year plan.
01-31
Northwind Coffee Roasters
Northwind Coffee a little behind plan in January 2025
Report
5 figures
Revenue of $413K was 5% behind the $435K budget. EBITDA of $23K (5% margin) was on plan. The shortfall is concentrated in two accounts; management expects to recover it by year-end.
Revenue of $3.35M was in line with the $3.36M budget, up 1% on the prior month. EBITDA of $551K (16% margin) beat plan by 9%. Nothing in the package changes the full-year view.
Revenue of $5.22M was in line with the $5.27M budget, down 1% on the prior month. EBITDA of $739K (14% margin) beat plan by 8%. No changes to the team or the capital structure.
Revenue of $2.79M was in line with the $2.81M budget, down 2% on the prior month. EBITDA of $637K (23% margin) beat plan by 8%. No changes to the team or the capital structure.
Every entry is a real record — click a filename to open the original in SharePoint. Documents in grey are on file but haven't been read yet, so they show as an event without a summary; run the extractor to fill them in. “Significant” marks an update that changes the investment case, as opposed to routine reporting.