NAV$136.96M
Invested$122.65M
Distributions$23.66M
TVPI1.31x
Active positions37
Private-markets monitor

Orchard Software Group

Everything that has happened with this deal, newest first — the updates, calls and financials they've sent, and the money that's come back.

Events
32
on the record
Documents
31
29 read & summarised
Distributions
0
cash returned
Invested
$3.50M
2022-06-01
Current value
$6.05M

History

32 shown
2026
09-30 Orchard: September 2026 revenue 5% ahead of budget Financials 5 figures
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.
08-31 Orchard beats its August 2026 plan by 7% Financials 5 figures
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.
07-31 Orchard: July 2026 revenue 7% ahead of plan Financials 5 figures
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.
06-30 Orchard beats its June 2026 plan by 9% Financials 5 figures
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.
05-31 Orchard: May 2026 revenue 3% ahead of budget Financials 5 figures
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.
04-30 Orchard beats its April 2026 plan by 8% Financials 5 figures
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.
03-31 Orchard: March 2026 revenue 6% ahead of budget Financials 5 figures
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.
02-28 Orchard hires a chief revenue officer Financials 5 figures
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.
01-31 Orchard: January 2026 revenue 6% ahead of budget Financials 5 figures
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.
01-22 Orchard 2026 budget approved: revenue $36.5M Financials
The board-approved 2026 budget plans revenue of $36.5M, 30% above 2025's actual revenue, and EBITDA of $4.01M, a 11% margin.
2025
12-31 Orchard: December 2025 revenue 6% ahead of budget Financials 5 figures
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.
12-31 Orchard FY2025 audit: clean opinion Financials
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.
12-31 Tax document Tax document
11-30 Orchard slightly ahead of plan in November 2025 Financials 5 figures
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.
10-31 Orchard: October 2025 revenue 5% ahead of budget Financials 5 figures
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.
09-30 Orchard slightly ahead of plan in September 2025 Financials 5 figures
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.
08-31 Orchard signs its largest customer to date Financials 5 figures
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%.
07-31 Orchard slightly ahead of plan in July 2025 Financials 5 figures
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.
06-30 Orchard: June 2025 in line with budget Financials 5 figures
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.
05-31 Orchard on plan in May 2025 Financials 5 figures
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.
04-30 Orchard: April 2025 revenue 5% ahead of budget Financials 5 figures
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.
03-31 Orchard on plan in March 2025 Financials 5 figures
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.
02-28 Orchard ships an integrated payments module Financials 5 figures
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%.
01-31 Orchard on plan in January 2025 Financials 5 figures
Revenue of $2.02M was in line with the $1.96M budget, up 6% on the prior month. EBITDA of $215K (11% margin) was on plan. ARR ended at $23.4M with net revenue retention of 108%. Nothing in the package changes the full-year view.
01-20 Orchard 2025 budget approved: revenue $27.1M Financials
The board-approved 2025 budget plans revenue of $27.1M, 36% above 2024's actual revenue, and EBITDA of $2.98M, a 11% margin.
2024
12-31 Orchard: December 2024 in line with budget Financials 5 figures
Revenue of $1.90M was in line with the $1.92M budget, up 1% on the prior month. EBITDA of $209K (11% margin) was on plan. ARR ended at $22.8M with net revenue retention of 109%. No changes to the team or the capital structure.
11-30 Orchard on plan in November 2024 Financials 5 figures
Revenue of $1.88M was in line with the $1.87M budget, up 3% on the prior month. EBITDA of $227K (12% margin) beat plan by 10%. ARR ended at $22.2M with net revenue retention of 106%. Nothing in the package changes the full-year view.
10-31 Orchard: October 2024 in line with budget Financials 5 figures
Revenue of $1.82M was in line with the $1.82M budget, up 5% on the prior month. EBITDA of $205K (11% margin) was on plan. ARR ended at $21.7M with net revenue retention of 106%. No changes to the team or the capital structure.
09-30 Orchard on plan in September 2024 Financials 5 figures
Revenue of $1.73M was in line with the $1.78M budget. EBITDA of $206K (12% margin) beat plan by 5%. ARR ended at $21.4M with net revenue retention of 108%. Nothing in the package changes the full-year view.
01-18 Orchard 2024 budget approved: revenue $20.2M Financials
The board-approved 2024 budget plans revenue of $20.2M, 40% above 2023's actual revenue, and EBITDA of $2.22M, a 11% margin.
2022
06-01 Invested $3.50M
Undated
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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.

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