FICTIONAL EXAMPLE

Subject: Fieldnote investor update, August 2026

Hi all,

Here's August at Fieldnote, in under three minutes.

TL;DR
• MRR $34.1k (+14% MoM). Four new mid market teams, zero churn.
• Our first AE starts September 8. The sales cycle is already down from 41 to 29 days.
• 23 months of runway at current burn. We're not raising until Q1.

Numbers (USD)
• MRR: $34,100, up 14.4% from $29,800
• Net burn: $59,000 a month, down from $60,000
• Cash: $1.37M
• Runway: 23.2 months

Highlights
• Kestrel Freight went live at $2.4k a month, now our largest account.
• Online checkout is 46% of new MRR, up from 40%.
• Audit log shipped, which unblocked two enterprise security reviews.

Lowlights
• Onboarding still takes 9 days. Our target is 3. A new import flow ships in October.
• We lost a deal on price to an incumbent, late in the process. The lesson: we need an annual plan, and it launches next month.

Asks
• A senior backend engineer. Heavy on Postgres, remote in the EU. If you know someone great who is quietly looking, reply with a name and I'll do the rest.
• Heads of Ops at logistics companies with 200 to 1,000 people. A 15 minute call to show them what we're building. No pitch deck.

Thank you
• Maya, for the Kestrel intro. It's now our biggest account.
• Tom, for an hour on pricing that became our annual plan.

Thanks for being in our corner,
Alex
