Revenue · GP · working capital. The shape of the year so far.

live · ledger synced 02:00 GMT

Revenue YTD

£1.8m

+17.9% YoY

Revenue · this month

£385k

vs £370k prior month

GP composite

42.6%

+2.5 pts YoY

Working capital cycle

28d

-6 days vs prior Q

Top-3 concentration

31%

Healthy spread · target <40%

At-risk revenue

£74k

Drift Coffee · refresh sprint

Revenue · last 12 months

£1.8m YTD · +17.9% YoY

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Peak season Nov/Dec carried the year. Spring cycle running 16% ahead of last year — three new brands onboarded ahead of November, with the next two queued for September.

Top customers · YTD

8 of 24 accounts

Solace Beauty
Anchor
14%
£258k
GP 44.2%
Auden Pharmacy
Anchor
11%
£202k
GP 46.8%
Marlowe Press
Healthy
9%
£166k
GP 41.5%
Lyric Hotels
Healthy
8%
£147k
GP 40.2%
Field & Foundry
Healthy
7%
£129k
GP 38.6%
Bramble House
Healthy
6%
£110k
GP 38.4%
Echo Sound
Healthy
5%
£92k
GP 42.1%
Drift Coffee
Watch
4%
£74k
GP 30.6%

Segment mix · YTD

Brand identity + systems
32%
GP 46.4%
Paid + performance
22%
GP 38.2%
Campaign + film
18%
GP 41.8%
Content + editorial
14%
GP 43.6%
Founder voice
8%
GP 49.1%
Strategy + research
6%
GP 44.2%

Life sciences carrying the GP mix at 17.8% — protect that lane through the renewal cycle.

Commentary · this period

Revenue +18.0% YoY YTD. Q4 retail-cycle uplift held at +28% vs 2024 — Solace + Auden anchors carried it.
GP composite +2.5 pts YoY. Brand identity lane carrying the mix at 46.4%; the work to keep is the founder-led brand work, where the room sits up.
Working capital cycle down 6 days vs last quarter — DSO improvement on retainer billing moved to monthly-up-front for new contracts.
Top-3 client concentration at 31%. Sub-40% holds the boutique-agency operator target; the book is intentionally widening through 2026.

Risk surface · top 3

Drift Coffee · margin slipping
GP% down 4.2 pts YoY on creative-fatigue refresh hours. Refresh sprint contained in scope; expect to recover 2.0 pts by Q3 once new hero set is live.
Solace SS27 · studio concentration
Studio at 84% utilised, weighted heavily toward Solace through July. Bought-in retoucher days cover the peak; back-to-back projects after SS27 lock managed.
Lyric Hotels · scope creep risk
Group-wide visual system has new-property roll-out potential. Phase contracts now standard; charging for research separately keeps margin clean.