Solander Robotics Inc
Industrial Robotics · United States
Overview
US$1.7M
1 Sept 2023
1 Sept 2027
US$139.6K
US$1.3M
78.8%
US$335K
25.0%
11.5%
Credit & Runway
T3M EBITDA burn avg
US$21.6K
RML (runway, current)
4.0 mo
T3M cash burn avg
US$35K
Cash-out date
30 Sept 2026
excl. debt service
30 Aug 2026 incl. debt service
Today → cash-out → maturity
excl. debt serviceincl. debt service
Performance
Revenue vs EBITDA
Cash vs Debt
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
US$2M
Growth
-6.0%
NRR
96.8%
Rule of 40
-20.0%
Gross annualised churn
1.1%
Burn multiple
n/a
Retention movement
Upsell
1.8%
Downsell
1.0%
Annualised, same base as gross churn: NRR ≈ 100% + upsell − downsell − gross churn.
Detail
Monthly Financial Detail
24 monthly periods · 8 quarter subtotals · T12M · USD
| 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 | US$2.2M | US$2.2M | US$2.2M | US$2.2M | US$2.2M | US$2.2M | US$2.2M | US$2.2M | US$2.1M | US$2.1M | US$2.1M | US$2.1M | US$2.1M | US$2.1M | US$2.1M | US$2.1M | US$2.1M | US$2M | US$2M | US$2M | US$2M | US$2M | US$2M | US$2M | US$2M | US$2M | US$2M | US$2M | US$2M | US$2M | US$2M | US$2M | US$2M |
| YoY % | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | -6.3% | -6.7% | -6.8% | — | -7.4% | -5.7% | -6.7% | — | -6.1% | -5.4% | -5.5% | — | -6.9% | -6.6% | -6.0% | — | — |
| Revenue | US$183.3K | US$182.6K | US$182.1K | US$548K | US$182.4K | US$180.4K | US$179.8K | US$542.6K | US$176.2K | US$176.1K | US$176.6K | US$528.9K | US$175.5K | US$174.2K | US$174.6K | US$524.3K | US$171.7K | US$170.4K | US$169.8K | US$511.9K | US$169K | US$170.1K | US$167.9K | US$507K | US$165.4K | US$166.6K | US$166.8K | US$498.8K | US$163.4K | US$162.8K | US$164.1K | US$490.2K | US$2M |
| YoY % | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | -6.3% | -6.7% | -6.8% | — | -7.4% | -5.7% | -6.7% | — | -6.1% | -5.4% | -5.5% | — | -6.9% | -6.6% | -6.0% | — | — |
| Gross Margin % | 30.0% | 30.2% | 30.3% | 30.2% | 30.5% | 30.7% | 30.9% | 30.7% | 31.0% | 31.2% | 31.4% | 31.2% | 31.6% | 31.7% | 31.9% | 31.7% | 32.1% | 32.3% | 32.4% | 32.3% | 32.6% | 32.8% | 33.0% | 32.8% | 33.1% | 33.3% | 33.5% | 33.3% | 33.7% | 33.8% | 34.0% | 33.8% | 33.0% |
| OpEx | -US$47.7K | -US$49.3K | -US$50.7K | -US$147.7K | -US$52.6K | -US$53.8K | -US$55.4K | -US$161.8K | -US$55.8K | -US$57.5K | -US$59.4K | -US$172.8K | -US$60.8K | -US$61.9K | -US$63.7K | -US$186.4K | -US$64.4K | -US$65.6K | -US$66.8K | -US$196.7K | -US$68.2K | -US$70.3K | -US$71K | -US$209.5K | -US$71.4K | -US$73.6K | -US$75.3K | -US$220.3K | -US$75.4K | -US$76.6K | -US$78.7K | -US$230.7K | -US$857.2K |
| EBITDA | US$7.3K | US$5.9K | US$4.4K | US$17.6K | US$3K | US$1.6K | US$156 | US$4.7K | -US$1.2K | -US$2.6K | -US$4K | -US$7.8K | -US$5.3K | -US$6.7K | -US$8K | -US$20.1K | -US$9.3K | -US$10.5K | -US$11.8K | -US$31.6K | -US$13.1K | -US$14.5K | -US$15.6K | -US$43.2K | -US$16.7K | -US$18.1K | -US$19.4K | -US$54.2K | -US$20.3K | -US$21.5K | -US$23K | -US$64.8K | -US$193.8K |
| EBITDA Margin % | 4.0% | 3.2% | 2.4% | — | 1.7% | 0.9% | 0.1% | — | -0.7% | -1.5% | -2.3% | — | -3.0% | -3.8% | -4.6% | — | -5.4% | -6.2% | -7.0% | — | -7.7% | -8.5% | -9.3% | — | -10.1% | -10.9% | -11.7% | — | -12.4% | -13.2% | -14.0% | — | — |
| Operating Cash Burn (CF) | -US$8.8K | -US$10.6K | -US$11.4K | -US$30.8K | -US$13.2K | -US$14K | -US$14.9K | -US$42.1K | -US$17.2K | -US$18.2K | -US$19.7K | -US$55K | -US$20.4K | -US$21.5K | -US$22.8K | -US$64.7K | -US$24.1K | -US$25.5K | -US$25.9K | -US$75.5K | -US$27.8K | -US$28.2K | -US$29K | -US$85K | -US$30.7K | -US$31.7K | -US$32.9K | -US$95.3K | -US$33.2K | -US$35.2K | -US$36.5K | -US$104.9K | -US$360.7K |
| CF from Investments | -US$3.7K | -US$3.7K | -US$3.6K | -US$11K | -US$3.6K | -US$3.6K | -US$3.6K | -US$10.9K | -US$3.5K | -US$3.5K | -US$3.5K | -US$10.6K | -US$3.5K | -US$3.5K | -US$3.5K | -US$10.5K | -US$3.4K | -US$3.4K | -US$3.4K | -US$10.2K | -US$3.4K | -US$3.4K | -US$3.4K | -US$10.1K | -US$3.3K | -US$3.3K | -US$3.3K | -US$10K | -US$3.3K | -US$3.3K | -US$3.3K | -US$9.8K | -US$40.2K |
| New Equity (CF) | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 | US$0 |
| Cash (BS) | US$1.1M | US$1.1M | US$1M | US$1M | US$1M | US$984.8K | US$951.3K | US$951.3K | US$915.6K | US$878.9K | US$840.7K | US$840.7K | US$801.8K | US$761.8K | US$720.5K | US$720.5K | US$678K | US$634.1K | US$589.8K | US$589.8K | US$543.6K | US$497K | US$449.6K | US$449.6K | US$400.7K | US$350.6K | US$299.4K | US$299.4K | US$247.9K | US$194.4K | US$139.6K | US$139.6K | US$139.6K |
| Debt (BS) | US$1.7M | US$1.7M | US$1.7M | US$1.7M | US$1.6M | US$1.6M | US$1.6M | US$1.6M | US$1.6M | US$1.6M | US$1.6M | US$1.6M | US$1.6M | US$1.5M | US$1.5M | US$1.5M | US$1.5M | US$1.5M | US$1.5M | US$1.5M | US$1.5M | US$1.4M | US$1.4M | US$1.4M | US$1.4M | US$1.4M | US$1.4M | US$1.4M | US$1.4M | US$1.4M | US$1.3M | US$1.3M | US$1.3M |
| RML | 126.5 mo | 101.5 mo | 92.4 mo | — | 77.2 mo | 70.1 mo | 63.9 mo | — | 53.2 mo | 48.3 mo | 42.8 mo | — | 39.3 mo | 35.5 mo | 31.5 mo | — | 28.2 mo | 24.9 mo | 22.7 mo | — | 19.6 mo | 17.6 mo | 15.5 mo | — | 13.1 mo | 11.1 mo | 9.1 mo | — | 7.5 mo | 5.5 mo | 3.8 mo | — | — |
Balance-Sheet Changes
24 monthly movements · USD
| 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 | US$0 | -US$454 | -US$266 | US$164 | -US$1.2K | -US$303 | -US$2.2K | -US$48 | US$297 | -US$654 | -US$760 | US$202 | -US$1.7K | -US$801 | -US$379 | -US$480 | US$691 | -US$1.3K | -US$1.5K | US$688 | US$144 | -US$2.1K | -US$326 | US$748 |
| Trade Payables | US$0 | US$639 | US$595 | US$747 | US$474 | US$647 | US$169 | US$682 | US$760 | US$542 | US$440 | US$734 | US$259 | US$469 | US$502 | US$538 | US$855 | US$292 | US$165 | US$853 | US$698 | US$21 | US$474 | US$879 |
| Deferred Revenue | US$0 | -US$725 | -US$427 | US$263 | -US$2K | -US$485 | -US$3.5K | -US$77 | US$475 | -US$1K | -US$1.2K | US$322 | -US$2.7K | -US$1.3K | -US$605 | -US$769 | US$1.1K | -US$2.1K | -US$2.4K | US$1.1K | US$229 | -US$3.3K | -US$522 | US$1.2K |
| Cash | US$0 | -US$29.3K | -US$30K | -US$31.8K | -US$32.7K | -US$33.5K | -US$35.7K | -US$36.7K | -US$38.2K | -US$38.9K | -US$40K | -US$41.3K | -US$42.5K | -US$43.9K | -US$44.3K | -US$46.1K | -US$46.6K | -US$47.3K | -US$49K | -US$50K | -US$51.2K | -US$51.5K | -US$53.5K | -US$54.8K |
| Debt | US$0 | -US$15K | -US$15K | -US$15K | -US$15K | -US$15K | -US$15K | -US$15K | -US$15K | -US$15K | -US$15K | -US$15K | -US$15K | -US$15K | -US$15K | -US$15K | -US$15K | -US$15K | -US$15K | -US$15K | -US$15K | -US$15K | -US$15K | -US$15K |
Quarter Update
Auto-drafted from this quarter's figures — review before use.
Solander Robotics Inc closed the period with ARR of US$2M (-6.0% YoY), a Rule of 40 score of -20.0% and a burn multiple of n/a.
Operating cash burn has deteriorated for the 23rd consecutive month, averaging US$35K over the last three months. Runway stands at 4.0 mo, with cash-out projected 30 Sept 2026.
Gross annualised churn stands at 1.1% against net revenue retention of 96.8%.
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
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