Section 04
Financial Summary
Northwind's ARR has grown 68% year-on-year to $32m, with margin expansion and retention trending in the right direction.
| Metric | FY25 | FY26 (run-rate) |
|---|---|---|
| ARR | 19 | 32 |
| Gross margin | 56% | 61% |
| Net dollar retention | 109% | 118% |
| Cash burn / month | 1.4 | 1.1 |
| Runway at close | - | 26 months |
Key findingLow impact
Runway comfortably covers the next fundraise cycle
At the current burn rate, the round extends runway to roughly 26 months, past the point where we expect Series D metrics to be in place.