Ravenscroft Media Group
Media Services · Netherlands
Overview
€2.5M
1 Sept 2023
1 Sept 2027
€365.8K
€2M
81.8%
€367.9K
18.0%
10.4%
Credit & Runway
T3M EBITDA burn avg
€404.7
RML (runway, current)
20.0 mo
T3M cash burn avg
€18.3K
Cash-out date
1 Mar 2028
excl. debt service
30 Dec 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 Mar 2028 (+21mo) · 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
€3.7M
Growth
1.2%
NRR
98.2%
Rule of 40
0.7%
Gross annualised churn
1.1%
Burn multiple
3.8x
Retention movement
Upsell
1.9%
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 · EUR
| 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 | €3.6M | €3.6M | €3.6M | €3.6M | €3.6M | €3.6M | €3.7M | €3.7M | €3.7M | €3.7M | €3.6M | €3.6M | €3.6M | €3.7M | €3.7M | €3.7M | €3.6M | €3.7M | €3.7M | €3.7M | €3.7M | €3.7M | €3.7M | €3.7M | €3.7M | €3.7M | €3.7M | €3.7M | €3.7M | €3.7M | €3.7M | €3.7M | €3.7M |
| YoY % | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 2.0% | 2.7% | 1.8% | — | 3.1% | 0.9% | 1.2% | — | 1.2% | 1.0% | 3.0% | — | 2.9% | 0.4% | 1.2% | — | — |
| Revenue | €297.4K | €301.8K | €303.7K | €902.9K | €301.1K | €303.4K | €304.5K | €909K | €305.6K | €305.1K | €303.4K | €914.1K | €302.5K | €307.9K | €307.2K | €917.6K | €303.5K | €309.9K | €309.1K | €922.5K | €310.6K | €306.1K | €308.2K | €925K | €309.3K | €308.2K | €312.3K | €929.8K | €311.2K | €309K | €311K | €931.2K | €3.7M |
| YoY % | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 2.0% | 2.7% | 1.8% | — | 3.1% | 0.9% | 1.2% | — | 1.2% | 1.0% | 3.0% | — | 2.9% | 0.4% | 1.2% | — | — |
| 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 | -€89.2K | -€92.3K | -€94.3K | -€275.8K | -€95.2K | -€97.6K | -€99.7K | -€292.5K | -€101.5K | -€103.1K | -€104.2K | -€308.8K | -€105.6K | -€109K | -€110.5K | -€325.1K | -€110.9K | -€115K | -€116.1K | -€342K | -€118.5K | -€118.5K | -€121.1K | -€358.1K | -€123K | -€124.3K | -€127.7K | -€374.9K | -€129K | -€129.6K | -€132.2K | -€390.8K | -€1.5M |
| EBITDA | €23.8K | €23K | €22.1K | €68.9K | €20.8K | €19.8K | €18.7K | €59.3K | €17.7K | €16.5K | €15.3K | €49.5K | €14.1K | €13.3K | €12.1K | €39.5K | €10.8K | €9.9K | €8.7K | €29.5K | €7.6K | €6.4K | €5.3K | €19.3K | €4.2K | €3K | €1.9K | €9.1K | €744 | -€403 | -€1.6K | -€1.2K | €56.6K |
| EBITDA Margin % | 8.0% | 7.6% | 7.3% | — | 6.9% | 6.5% | 6.2% | — | 5.8% | 5.4% | 5.0% | — | 4.7% | 4.3% | 3.9% | — | 3.6% | 3.2% | 2.8% | — | 2.5% | 2.1% | 1.7% | — | 1.3% | 1.0% | 0.6% | — | 0.2% | -0.1% | -0.5% | — | — |
| Operating Cash Burn (CF) | €1.8K | €1.4K | €2.2K | €5.4K | -€1.7K | -€1.4K | -€2.8K | -€5.9K | -€2.8K | -€3.8K | -€3.7K | -€10.3K | -€5.5K | -€5.8K | -€8.1K | -€19.4K | -€9.7K | -€8.8K | -€11.1K | -€29.6K | -€11.7K | -€13.9K | -€13K | -€38.6K | -€15.2K | -€16.4K | -€17.3K | -€48.8K | -€16.9K | -€17.5K | -€20.3K | -€54.8K | -€171.9K |
| CF from Investments | -€5.9K | -€6K | -€6.1K | -€18.1K | -€6K | -€6.1K | -€6.1K | -€18.2K | -€6.1K | -€6.1K | -€6.1K | -€18.3K | -€6.1K | -€6.2K | -€6.1K | -€18.4K | -€6.1K | -€6.2K | -€6.2K | -€18.4K | -€6.2K | -€6.1K | -€6.2K | -€18.5K | -€6.2K | -€6.2K | -€6.2K | -€18.6K | -€6.2K | -€6.2K | -€6.2K | -€18.6K | -€74.2K |
| 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) | €1.1M | €1.1M | €1.1M | €1.1M | €1.1M | €1M | €1M | €1M | €992.3K | €963.4K | €934.6K | €934.6K | €904.1K | €873.2K | €839.9K | €839.9K | €805.1K | €771.1K | €734.8K | €734.8K | €697.9K | €658.8K | €620.7K | €620.7K | €580.3K | €538.8K | €496.3K | €496.3K | €454.1K | €411.4K | €365.8K | €365.8K | €365.8K |
| Debt (BS) | €2.5M | €2.5M | €2.4M | €2.4M | €2.4M | €2.4M | €2.4M | €2.4M | €2.4M | €2.3M | €2.3M | €2.3M | €2.3M | €2.3M | €2.3M | €2.3M | €2.3M | €2.2M | €2.2M | €2.2M | €2.2M | €2.2M | €2.2M | €2.2M | €2.1M | €2.1M | €2.1M | €2.1M | €2.1M | €2.1M | €2M | €2M | €2M |
| RML | n/a | n/a | n/a | — | 649.7 mo | 725.9 mo | 361.7 mo | — | 352.4 mo | 253.7 mo | 252.8 mo | — | 164.2 mo | 151.5 mo | 103.2 mo | — | 82.6 mo | 87.8 mo | 66.3 mo | — | 59.6 mo | 47.3 mo | 47.8 mo | — | 38.2 mo | 32.9 mo | 28.7 mo | — | 26.8 mo | 23.4 mo | 18.0 mo | — | — |
Balance-Sheet Changes
24 monthly movements · EUR
| 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 | €2.6K | €1.2K | -€1.6K | €1.3K | €689 | €672 | -€333 | -€1K | -€548 | €3.3K | -€440 | -€2.2K | €3.8K | -€510 | €913 | -€2.7K | €1.3K | €642 | -€682 | €2.5K | -€667 | -€1.3K | €1.2K |
| Trade Payables | €0 | €1.2K | €812 | €364 | €972 | €842 | €721 | €621 | €462 | €564 | €1.3K | €596 | €164 | €1.6K | €454 | €937 | €16 | €1K | €749 | €521 | €1.4K | €528 | €216 | €1K |
| Deferred Revenue | €0 | €4.2K | €1.9K | -€2.5K | €2.1K | €1.1K | €1.1K | -€533 | -€1.6K | -€875 | €5.2K | -€705 | -€3.5K | €6.2K | -€816 | €1.5K | -€4.3K | €2K | €1K | -€1.1K | €4K | -€1.1K | -€2.1K | €1.8K |
| Cash | €0 | -€23.6K | -€22.9K | -€26.7K | -€26.5K | -€27.9K | -€27.9K | -€28.9K | -€28.8K | -€30.6K | -€30.9K | -€33.3K | -€34.8K | -€34K | -€36.3K | -€36.9K | -€39K | -€38.2K | -€40.4K | -€41.5K | -€42.5K | -€42.2K | -€42.7K | -€45.5K |
| Debt | €0 | -€19K | -€19K | -€19K | -€19K | -€19K | -€19K | -€19K | -€19K | -€19K | -€19K | -€19K | -€19K | -€19K | -€19K | -€19K | -€19K | -€19K | -€19K | -€19K | -€19K | -€19K | -€19K | -€19K |
Quarter Update
Auto-drafted from this quarter's figures — review before use.
Ravenscroft Media Group closed the period with ARR of €3.7M (1.2% YoY), a Rule of 40 score of 0.7% and a burn multiple of 3.8x.
Operating cash burn has deteriorated for the 2nd consecutive month, averaging €18.3K over the last three months. Runway stands at 20.0 mo, with cash-out projected 1 Mar 2028.
Gross annualised churn stands at 1.1% against net revenue retention of 98.2%.
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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