Insights
Things RON noticed in your business
Last 7 days
RON surfaced 9 findings on Lumina Health, ranked by likely impact on the deal — most important first. Click Ask RON about this → on any card to dig in.
1 Critical Accounts 2 hours ago
Customer concentration: top 3 accounts are 47% of ARR
Acme Health alone is 24%. Its MSA renews in 9 months with a 60-day termination-for-convenience clause — the exposure isn’t today’s mix, it’s how easily it walks.
Open concentration analysis → Ask RON about this →
2 Important Pipeline 5 days ago
2024 audited financials are still outstanding — blocks quality-of-earnings
CFO committed to delivering by the 15th. The cohort-retention and QoE models can’t be finalized until they’re in the data room.
Open Data Room → Ask RON about this →
3 Important Revenue Today
Net retention is 117%, but logo churn is drifting up
23 points of expansion are covering a 6% logo-churn rate. Expansion is masking retention weakness — understand the churn drivers before that engine slows.
Open cohort retention → Ask RON about this →
4 Note Revenue 3 days ago
ARR grew to $8.4M (+$580K QTD) — Health vertical led
Bookings concentrated in the Health vertical. Durable if the vertical holds — a concentration of its own to flag for IC.
Open ARR cube → Ask RON about this →
5 Important Pipeline 2 days ago
Gross margin is 71% — below SaaS median on a services-heavy mix
Roughly 18% of revenue is implementation and services. Worth modeling margin as the mix shifts post-close.
Open margin detail → Ask RON about this →
6 Important Revenue Yesterday
CAC payback has lengthened to 19 months
Enterprise sales cycles are stretching. Feeds the downside case on growth efficiency.
Open efficiency view → Ask RON about this →
7 Note Cash & Finance 3 days ago
Top-of-funnel is concentrated in a single partner channel
About 60% of new logos are sourced through one partner. Channel durability is a question for the growth model.
Open pipeline sources → Ask RON about this →
8 Pattern Patterns 5 days ago
Founder / CTO is a key-person risk
Founder wants to stay through transition. Needs a retention and earn-out framing for the IC memo.
Open management review → Ask RON about this →
9 Note Cash & Finance 6 days ago
Cash runway is 14 months at $420K/mo burn
Adequate through a 60-day close. Not a constraint, but it sets the financing context for the deal.
Open cash view → Ask RON about this →