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Dave Thornton

Partner

Cascade Security

On plan

Identity threat detection for large enterprises, sitting across directory, VPN and SaaS sign-in telemetry.

CybersecuritySeries CUnited StatesInvested Aug 5, 2020Lead: Ollie

Next board meeting

Thu, August 20

in 3 weeks

Status rationale: A European tier-one banking client signed in July, taking the quarter comfortably past plan on new ARR.Updated Jul 27, 2026

ARR

£18.9m

Budget: £17.6m+7%

ARR Growth

27.0%

Budget: 22.0%+23%

Cash Balance

£14.2m

Budget: £13.1m+8%

Net Burn

£0.4m

Budget: £0.5m-15%

Runway

32.3 mo

Budget: 25.2 mo+28%

Gross Margin

81.0%

Budget: 79.0%+3%

Net Revenue Retention

124.0%

Budget: 116.0%+7%

Churn

2.1%

Budget: 2.8%-25%

Pipeline Value

£22.6m

Budget: £19.4m+16%

ARR Trend (last 5 quarters)

  • £12.4m
    Q2 25
  • £14.0m
    Q3 25
  • £15.6m
    Q4 25
  • £17.2m
    Q1 26
  • £18.9m
    Q2 26

Metrics

Actuals vs plan, with extraction confidence.

Metrics
MetricValuevs. planConfidence
ARR£18.9mOn plan
94%
ARR Growth27.0%On plan
90%
Cash Balance£14.2mOn plan
96%
Net Burn£0.4mOn plan
83%
Runway32.3 moOn plan
77%
Gross Margin81.0%On plan
48%
Net Revenue Retention124.0%On plan
58%
Churn2.1%On plan
53%
Pipeline Value£22.6mOn plan
42%