ARR
€1.85m
+6.0% MoM · +164.3% since Nov 25
Contract review for Spanish and English mid-market legal teams.
1.29x
ARR
€1.85m
+6.0% MoM · +164.3% since Nov 25
Net burn
€310k / mo
Implied cash €3.72m
Runway
12 mo
Outside the nine-month line
People
19
NRR 115% · GM 77%
watch
Runway is a year. Retention is healthy. The pipeline does not yet show a repeatable firm-wide rollout, which is what a new lead will ask for.
Suggested action. Make two introductions to Madrid general counsel this month. Judge the company on whether those convert, not on the demo.
€m, monthly
€m per month
Monitoring note
Brava is a good seed that has not yet earned a growth round. That is allowed. The mistake would be to treat a 12-month runway and a pleasant product as momentum. Help the pipeline, and keep the reserve unspent until a second segment shows up.