Wrenfield Logistics Ltd
Logistics · United Kingdom
Overview
£1.9M
1 Sept 2023
1 Sept 2027
£210.3K
£1.6M
82.3%
£297.2K
19.0%
10.9%
Credit & Runway
T3M EBITDA burn avg
(£743.7)
RML (runway, current)
16.0 mo
T3M cash burn avg
£13.1K
Cash-out date
30 Oct 2027
excl. debt service
30 Nov 2026 incl. debt service
Today → cash-out → maturity
excl. debt serviceincl. debt service
Cash-out date falls beyond maturity — repayment due 1 Sept 2027 comes first.
Performance
Revenue vs EBITDA
Cash vs Debt
Cash-out Oct 2027 (+16mo) · Maturity Sept 2027 (+15mo) — beyond chart window
Customer Movement
New vs churned per month · net line
CRR Migration
24 months · rating stable over the window
Key Metrics
as of Q2 2026 · comparisons vs prior quarter
Portfolio-standard
ARR
£2.6M
Growth
-0.2%
NRR
97.7%
Rule of 40
-0.2%
Gross annualised churn
1.1%
Burn multiple
n/a
Retention movement
Upsell
1.9%
Downsell
1.1%
Annualised, same base as gross churn: NRR ≈ 100% + upsell − downsell − gross churn.
Detail
Monthly Financial Detail
24 monthly periods · 8 quarter subtotals · T12M · GBP
| Line Item | Jul 24 | Aug 24 | Sept 24 | Q3 2024 | Oct 24 | Nov 24 | Dec 24 | Q4 2024 | Jan 25 | Feb 25 | Mar 25 | Q1 2025 | Apr 25 | May 25 | Jun 25 | Q2 2025 | Jul 25 | Aug 25 | Sept 25 | Q3 2025 | Oct 25 | Nov 25 | Dec 25 | Q4 2025 | Jan 26 | Feb 26 | Mar 26 | Q1 2026 | Apr 26 | May 26 | Jun 26 | Q2 2026 | T12M |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ARR | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.5M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M | £2.6M |
| YoY % | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | -1.5% | -1.1% | -0.3% | — | -2.0% | -1.4% | -0.7% | — | -1.6% | 0.6% | -1.4% | — | -1.2% | -0.2% | -0.2% | — | — |
| Revenue | £216K | £214.9K | £216.7K | £647.7K | £217.3K | £215.9K | £215.3K | £648.5K | £215.6K | £213.7K | £216.1K | £645.3K | £216.1K | £214.9K | £214K | £644.9K | £212.7K | £212.5K | £216K | £641.3K | £213K | £212.9K | £213.9K | £639.8K | £212.2K | £214.9K | £213.1K | £640.2K | £213.5K | £214.4K | £213.6K | £641.5K | £2.6M |
| YoY % | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | -1.5% | -1.1% | -0.3% | — | -2.0% | -1.4% | -0.7% | — | -1.6% | 0.6% | -1.4% | — | -1.2% | -0.2% | -0.2% | — | — |
| Gross Margin % | 38.0% | 38.2% | 38.3% | 38.2% | 38.5% | 38.7% | 38.9% | 38.7% | 39.0% | 39.2% | 39.4% | 39.2% | 39.6% | 39.7% | 39.9% | 39.7% | 40.1% | 40.3% | 40.4% | 40.3% | 40.6% | 40.8% | 41.0% | 40.8% | 41.1% | 41.3% | 41.5% | 41.3% | 41.7% | 41.8% | 42.0% | 41.8% | 41.1% |
| OpEx | -£64.8K | -£65.6K | -£67.2K | -£197.6K | -£68.5K | -£69.3K | -£70.3K | -£208.1K | -£71.3K | -£71.9K | -£73.9K | -£217.1K | -£75K | -£75.6K | -£76.4K | -£227.1K | -£77.2K | -£78.3K | -£80.5K | -£235.9K | -£80.6K | -£81.7K | -£83.2K | -£245.5K | -£83.5K | -£85.8K | -£86.2K | -£255.5K | -£87.5K | -£88.9K | -£89.7K | -£266.1K | -£1M |
| EBITDA | £17.3K | £16.4K | £15.8K | £49.6K | £15.1K | £14.3K | £13.5K | £42.9K | £12.7K | £11.9K | £11.3K | £35.9K | £10.5K | £9.7K | £8.9K | £29.2K | £8.1K | £7.4K | £6.8K | £22.3K | £5.9K | £5.2K | £4.5K | £15.6K | £3.7K | £3K | £2.2K | £8.9K | £1.5K | £746 | £0 | £2.2K | £49K |
| EBITDA Margin % | 8.0% | 7.7% | 7.3% | — | 7.0% | 6.6% | 6.3% | — | 5.9% | 5.6% | 5.2% | — | 4.9% | 4.5% | 4.2% | — | 3.8% | 3.5% | 3.1% | — | 2.8% | 2.4% | 2.1% | — | 1.7% | 1.4% | 1.0% | — | 0.7% | 0.3% | 0.0% | — | — |
| Operating Cash Burn (CF) | -£425 | -£781 | -£2K | -£3.2K | -£2.7K | -£2.4K | -£2.4K | -£7.5K | -£4.4K | -£4.3K | -£4.7K | -£13.4K | -£6.1K | -£5.5K | -£5.9K | -£17.4K | -£8.6K | -£7.2K | -£9.5K | -£25.3K | -£9.6K | -£9K | -£11.5K | -£30.1K | -£12.1K | -£11.5K | -£12.8K | -£36.5K | -£12.3K | -£13.2K | -£13.8K | -£39.4K | -£131.2K |
| CF from Investments | -£4.3K | -£4.3K | -£4.3K | -£13K | -£4.3K | -£4.3K | -£4.3K | -£13K | -£4.3K | -£4.3K | -£4.3K | -£12.9K | -£4.3K | -£4.3K | -£4.3K | -£12.9K | -£4.3K | -£4.3K | -£4.3K | -£12.8K | -£4.3K | -£4.3K | -£4.3K | -£12.8K | -£4.2K | -£4.3K | -£4.3K | -£12.8K | -£4.3K | -£4.3K | -£4.3K | -£12.8K | -£51.3K |
| New Equity (CF) | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 |
| Cash (BS) | £803.3K | £784.2K | £763.9K | £763.9K | £742.9K | £722.2K | £701.4K | £701.4K | £678.8K | £656.2K | £633.1K | £633.1K | £608.8K | £585K | £560.8K | £560.8K | £534K | £508.5K | £480.7K | £480.7K | £452.8K | £425.6K | £395.8K | £395.8K | £365.4K | £335.6K | £304.5K | £304.5K | £273.9K | £242.4K | £210.3K | £210.3K | £210.3K |
| Debt (BS) | £1.9M | £1.9M | £1.9M | £1.9M | £1.8M | £1.8M | £1.8M | £1.8M | £1.8M | £1.8M | £1.8M | £1.8M | £1.8M | £1.7M | £1.7M | £1.7M | £1.7M | £1.7M | £1.7M | £1.7M | £1.7M | £1.7M | £1.6M | £1.6M | £1.6M | £1.6M | £1.6M | £1.6M | £1.6M | £1.6M | £1.6M | £1.6M | £1.6M |
| RML | 1890.0 mo | 1004.1 mo | 386.6 mo | — | 280.3 mo | 305.8 mo | 286.9 mo | — | 155.4 mo | 152.7 mo | 133.7 mo | — | 100.5 mo | 107.1 mo | 94.7 mo | — | 62.2 mo | 70.6 mo | 50.7 mo | — | 47.1 mo | 47.4 mo | 34.3 mo | — | 30.1 mo | 29.1 mo | 23.8 mo | — | 22.3 mo | 18.3 mo | 15.2 mo | — | — |
Balance-Sheet Changes
24 monthly movements · GBP
| Line Item | Jul 24 | Aug 24 | Sept 24 | Oct 24 | Nov 24 | Dec 24 | Jan 25 | Feb 25 | Mar 25 | Apr 25 | May 25 | Jun 25 | Jul 25 | Aug 25 | Sept 25 | Oct 25 | Nov 25 | Dec 25 | Jan 26 | Feb 26 | Mar 26 | Apr 26 | May 26 | Jun 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Trade Receivables | £0 | -£688 | £1.1K | £334 | -£859 | -£341 | £166 | -£1.1K | £1.4K | £2 | -£722 | -£536 | -£746 | -£124 | £2.1K | -£1.8K | -£96 | £596 | -£978 | £1.6K | -£1.1K | £259 | £557 | -£494 |
| Trade Payables | £0 | £333 | £616 | £545 | £292 | £399 | £423 | £218 | £794 | £473 | £218 | £343 | £289 | £435 | £899 | £24 | £443 | £621 | £126 | £886 | £178 | £537 | £537 | £331 |
| Deferred Revenue | £0 | -£1.1K | £1.8K | £534 | -£1.4K | -£545 | £265 | -£1.8K | £2.3K | £3 | -£1.2K | -£858 | -£1.2K | -£199 | £3.3K | -£2.9K | -£153 | £953 | -£1.6K | £2.5K | -£1.7K | £415 | £892 | -£792 |
| Cash | £0 | -£19.1K | -£20.3K | -£21K | -£20.7K | -£20.8K | -£22.7K | -£22.6K | -£23.1K | -£24.4K | -£23.8K | -£24.2K | -£26.8K | -£25.5K | -£27.8K | -£27.9K | -£27.2K | -£29.8K | -£30.4K | -£29.8K | -£31.1K | -£30.6K | -£31.5K | -£32.1K |
| Debt | £0 | -£14K | -£14K | -£14K | -£14K | -£14K | -£14K | -£14K | -£14K | -£14K | -£14K | -£14K | -£14K | -£14K | -£14K | -£14K | -£14K | -£14K | -£14K | -£14K | -£14K | -£14K | -£14K | -£14K |
Quarter Update
Auto-drafted from this quarter's figures — review before use.
Wrenfield Logistics Ltd closed the period with ARR of £2.6M (-0.2% YoY), a Rule of 40 score of -0.2% and a burn multiple of n/a.
Operating cash burn has deteriorated for the 2nd consecutive month, averaging £13.1K over the last three months. Runway stands at 16.0 mo, with cash-out projected 30 Oct 2027.
Gross annualised churn stands at 1.1% against net revenue retention of 97.7%.
Analyst Notes
- Priya Nair·24 Jun 2026
Q2 management accounts reconcile to the monthly reporting pack — cash bridge ties out with no unexplained movements. Comfortable with the reported position for this review.
- Tom Beckett·11 Jun 2026
Flagged the step-up in S&M spend in the trailing quarter; management confirm it is front-loaded pipeline investment rather than a run-rate change. Revisit at the next review.
08:04 GMT
Last sync · 13/15 borrower feeds synced