Slide-level Evidence Explorer

From the deck: What the slide shows

• Client logos and a price list appear on separate slides.Slides 2 and 6 of the Blurbiz deck: link to this claim

Report definition: What a public slide establishes

What the record showsPublicly disclosed deck evidence. What the accessible public copy of a deck shows.

What that does not establishPrivately held evidence. Public decks may be shortened, updated, rewritten, redacted or different from what was shared privately. A missing revenue or retention figure is a statement about public disclosure, not proof that the company had no such information.

What the record showsRevenue. A figure the deck explicitly labels as the company's own revenue.

What that does not establishOther money figures. Transaction volume, contract or pilot value, gross profit, annualised or projected amounts and unlabelled figures are not silently counted as revenue.

Figures as presented. Figures were transcribed from public slides and classified according to rules. They are presentation disclosures rather than company accounts.

From the report:Appendix A: Evidence definitions: six distinctions this report keepsAppendix A: How the research was done

Interpretation: What the report concludes

• A logo could reflect a customer, a design partner, a past employer, an integration or a prospect; without a legend, a reader cannot know.

Not shown: What it does not establish

• The deck does not itself connect the logos to an identifiable billed amount.

Your question: The commercial question left open

• What customer action has actually occurred?Was there an interview, waitlist sign-up, pilot agreement, activation, repeat use, payment or renewal? Each action has a different meaning. Which one do we currently have?
• What money did the company earn?If we use a financial figure, is it revenue recognised by our company, money passing through the platform, contract value, gross profit, forecast or an annualised run rate? What is the time period, currency and source?
• What is still unproven, and what is the smallest useful next test?Rather than filling a missing slide with assumptions, identify the single uncertainty most likely to change the decision to build, sell, spend or raise.

Your test: What you could test in your own business

• What relationship between the company and a real customer does the slide actually establish?

From the deck: What the slide shows

• A claim that ten Fortune 500 companies used the product.Slide 4 of the Waterplan deck: link to this claim

Report definition: What a public slide establishes

What the record showsPublicly disclosed deck evidence. What the accessible public copy of a deck shows.

What that does not establishPrivately held evidence. Public decks may be shortened, updated, rewritten, redacted or different from what was shared privately. A missing revenue or retention figure is a statement about public disclosure, not proof that the company had no such information.

What the record showsRevenue. A figure the deck explicitly labels as the company's own revenue.

What that does not establishOther money figures. Transaction volume, contract or pilot value, gross profit, annualised or projected amounts and unlabelled figures are not silently counted as revenue.

Figures as presented. Figures were transcribed from public slides and classified according to rules. They are presentation disclosures rather than company accounts.

From the report:Appendix A: Evidence definitions: six distinctions this report keepsAppendix A: How the research was done

Interpretation: What the report concludes

• The gap is between showing that a relationship may exist and demonstrating its commercial value, and that gap is where an investor's first reasonable question sits.

Not shown: What it does not establish

• Does not by itself state what they paid or identify the relationship.

Your question: The commercial question left open

• What customer action has actually occurred?Was there an interview, waitlist sign-up, pilot agreement, activation, repeat use, payment or renewal? Each action has a different meaning. Which one do we currently have?
• What money did the company earn?If we use a financial figure, is it revenue recognised by our company, money passing through the platform, contract value, gross profit, forecast or an annualised run rate? What is the time period, currency and source?
• What is still unproven, and what is the smallest useful next test?Rather than filling a missing slide with assumptions, identify the single uncertainty most likely to change the decision to build, sell, spend or raise.

Your test: What you could test in your own business

• What relationship between the company and a real customer does the slide actually establish?

From the deck: What the slide shows

• A rising chart of paid seats.Slide 5 of the Storyboard deck: link to this claim

Report definition: What a public slide establishes

What the record showsPublicly disclosed deck evidence. What the accessible public copy of a deck shows.

What that does not establishPrivately held evidence. Public decks may be shortened, updated, rewritten, redacted or different from what was shared privately. A missing revenue or retention figure is a statement about public disclosure, not proof that the company had no such information.

Figures as presented. Figures were transcribed from public slides and classified according to rules. They are presentation disclosures rather than company accounts.

From the report:Appendix A: Evidence definitions: six distinctions this report keepsAppendix A: How the research was done

Interpretation: What the report concludes

• A graph without values can show direction while concealing magnitude.

Not shown: What it does not establish

• Lacks the numerical scale needed to calculate what the movement represents.

Your question: The commercial question left open

• What customer action has actually occurred?Was there an interview, waitlist sign-up, pilot agreement, activation, repeat use, payment or renewal? Each action has a different meaning. Which one do we currently have?
• What is still unproven, and what is the smallest useful next test?Rather than filling a missing slide with assumptions, identify the single uncertainty most likely to change the decision to build, sell, spend or raise.

Your test: What you could test in your own business

• What relationship between the company and a real customer does the slide actually establish?

From the deck: What the slide shows

• Its public copy replaces a monthly recurring-revenue number with a placeholder.Slide 14 of the VideoPeel deck: link to this claim

Report definition: What a public slide establishes

What the record showsPublicly disclosed deck evidence. What the accessible public copy of a deck shows.

What that does not establishPrivately held evidence. Public decks may be shortened, updated, rewritten, redacted or different from what was shared privately. A missing revenue or retention figure is a statement about public disclosure, not proof that the company had no such information.

What the record showsRevenue. A figure the deck explicitly labels as the company's own revenue.

What that does not establishOther money figures. Transaction volume, contract or pilot value, gross profit, annualised or projected amounts and unlabelled figures are not silently counted as revenue.

Figures as presented. Figures were transcribed from public slides and classified according to rules. They are presentation disclosures rather than company accounts.

From the report:Appendix A: Evidence definitions: six distinctions this report keepsAppendix A: How the research was done

Interpretation: What the report concludes

• A missing figure shows what the public deck left out, not what the company lacked.

Not shown: What it does not establish

• A redacted public deck does not show what investors may have seen privately.

Your question: The commercial question left open

• What money did the company earn?If we use a financial figure, is it revenue recognised by our company, money passing through the platform, contract value, gross profit, forecast or an annualised run rate? What is the time period, currency and source?
• What is still unproven, and what is the smallest useful next test?Rather than filling a missing slide with assumptions, identify the single uncertainty most likely to change the decision to build, sell, spend or raise.

Your test: What you could test in your own business

• Take your biggest number and write one sentence on what it measures and how much of it the business kept.

From the deck: What the slide shows

• A 20% gross-profit claim beside $1.2 million of transaction value.Slide 8 of the iGrow deck: link to this claim

Report definition: What a public slide establishes

What the record showsPublicly disclosed deck evidence. What the accessible public copy of a deck shows.

What that does not establishPrivately held evidence. Public decks may be shortened, updated, rewritten, redacted or different from what was shared privately. A missing revenue or retention figure is a statement about public disclosure, not proof that the company had no such information.

What the record showsRevenue. A figure the deck explicitly labels as the company's own revenue.

What that does not establishOther money figures. Transaction volume, contract or pilot value, gross profit, annualised or projected amounts and unlabelled figures are not silently counted as revenue.

Figures as presented. Figures were transcribed from public slides and classified according to rules. They are presentation disclosures rather than company accounts.

From the report:Appendix A: Evidence definitions: six distinctions this report keepsAppendix A: How the research was done

Interpretation: What the report concludes

• That additional ratio helps a reader ask how much economic benefit could accrue to the company.
• That makes it more interpretable than transaction value alone.

Not shown: What it does not establish

• A margin helps a reader ask how much value could reach the company, but it does not state what was earned.

Your question: The commercial question left open

• What money did the company earn?If we use a financial figure, is it revenue recognised by our company, money passing through the platform, contract value, gross profit, forecast or an annualised run rate? What is the time period, currency and source?
• What is still unproven, and what is the smallest useful next test?Rather than filling a missing slide with assumptions, identify the single uncertainty most likely to change the decision to build, sell, spend or raise.

Your test: What you could test in your own business

• If you run a marketplace, four questions sit behind a transaction-volume headline: What was transacted? Over what period? What fees did the business retain? What costs were incurred to generate and serve those transactions?

From the deck: What the slide shows

• $1.07 million of total contract value signed.Slide 4 of the Butlr deck: link to this claim

Report definition: What a public slide establishes

What the record showsPublicly disclosed deck evidence. What the accessible public copy of a deck shows.

What that does not establishPrivately held evidence. Public decks may be shortened, updated, rewritten, redacted or different from what was shared privately. A missing revenue or retention figure is a statement about public disclosure, not proof that the company had no such information.

What the record showsRevenue. A figure the deck explicitly labels as the company's own revenue.

What that does not establishOther money figures. Transaction volume, contract or pilot value, gross profit, annualised or projected amounts and unlabelled figures are not silently counted as revenue.

Figures as presented. Figures were transcribed from public slides and classified according to rules. They are presentation disclosures rather than company accounts.

From the report:Appendix A: Evidence definitions: six distinctions this report keepsAppendix A: How the research was done

Interpretation: What the report concludes

• A signed contract is evidence of a commercial relationship, but total contract value is not automatically equivalent to cash collected or revenue earned in the period.

Not shown: What it does not establish

The report states no separate limit for this slide beyond what it concludes above. Its definitions above still apply.

Your question: The commercial question left open

• What money did the company earn?If we use a financial figure, is it revenue recognised by our company, money passing through the platform, contract value, gross profit, forecast or an annualised run rate? What is the time period, currency and source?
• What is still unproven, and what is the smallest useful next test?Rather than filling a missing slide with assumptions, identify the single uncertainty most likely to change the decision to build, sell, spend or raise.

Your test: What you could test in your own business

• The principle for your own deck: name the measure before using it as proof.

From the deck: What the slide shows

• $600,000 in pilots.Slide 3 of the Tallyfy deck: link to this claim

Report definition: What a public slide establishes

What the record showsPublicly disclosed deck evidence. What the accessible public copy of a deck shows.

What that does not establishPrivately held evidence. Public decks may be shortened, updated, rewritten, redacted or different from what was shared privately. A missing revenue or retention figure is a statement about public disclosure, not proof that the company had no such information.

What the record showsRevenue. A figure the deck explicitly labels as the company's own revenue.

What that does not establishOther money figures. Transaction volume, contract or pilot value, gross profit, annualised or projected amounts and unlabelled figures are not silently counted as revenue.

Figures as presented. Figures were transcribed from public slides and classified according to rules. They are presentation disclosures rather than company accounts.

From the report:Appendix A: Evidence definitions: six distinctions this report keepsAppendix A: How the research was done

Interpretation: What the report concludes

The report gives no separate reading of this slide. What it leaves open follows.

Not shown: What it does not establish

• The public slide as recorded did not resolve whether this was contracted, billed or prospective value.

Your question: The commercial question left open

• What money did the company earn?If we use a financial figure, is it revenue recognised by our company, money passing through the platform, contract value, gross profit, forecast or an annualised run rate? What is the time period, currency and source?
• What is still unproven, and what is the smallest useful next test?Rather than filling a missing slide with assumptions, identify the single uncertainty most likely to change the decision to build, sell, spend or raise.

Your test: What you could test in your own business

• The principle for your own deck: name the measure before using it as proof.

From the deck: What the slide shows

• A $1 million run-rate figure adjacent to a chart with much smaller axis values.Slide 3 of the Shippo deck: link to this claim

Report definition: What a public slide establishes

What the record showsPublicly disclosed deck evidence. What the accessible public copy of a deck shows.

What that does not establishPrivately held evidence. Public decks may be shortened, updated, rewritten, redacted or different from what was shared privately. A missing revenue or retention figure is a statement about public disclosure, not proof that the company had no such information.

What the record showsRevenue. A figure the deck explicitly labels as the company's own revenue.

What that does not establishOther money figures. Transaction volume, contract or pilot value, gross profit, annualised or projected amounts and unlabelled figures are not silently counted as revenue.

Figures as presented. Figures were transcribed from public slides and classified according to rules. They are presentation disclosures rather than company accounts.

From the report:Appendix A: Evidence definitions: six distinctions this report keepsAppendix A: How the research was done

Interpretation: What the report concludes

• An annualised run rate can be a meaningful operating indicator, but the underlying time interval, actual recorded revenue and method of extrapolation need to be stated.
• For an early business, the difference between one strong month and a recurring twelve-month pattern is substantial.

Not shown: What it does not establish

The report states no separate limit for this slide beyond what it concludes above. Its definitions above still apply.

Your question: The commercial question left open

• What money did the company earn?If we use a financial figure, is it revenue recognised by our company, money passing through the platform, contract value, gross profit, forecast or an annualised run rate? What is the time period, currency and source?
• What is still unproven, and what is the smallest useful next test?Rather than filling a missing slide with assumptions, identify the single uncertainty most likely to change the decision to build, sell, spend or raise.

Your test: What you could test in your own business

• The principle for your own deck: name the measure before using it as proof.

From the deck: What the slide shows

• Charted “gross revenue”.Slide 7 of the Bill Trim deck: link to this claim

Report definition: What a public slide establishes

What the record showsPublicly disclosed deck evidence. What the accessible public copy of a deck shows.

What that does not establishPrivately held evidence. Public decks may be shortened, updated, rewritten, redacted or different from what was shared privately. A missing revenue or retention figure is a statement about public disclosure, not proof that the company had no such information.

What the record showsRevenue. A figure the deck explicitly labels as the company's own revenue.

What that does not establishOther money figures. Transaction volume, contract or pilot value, gross profit, annualised or projected amounts and unlabelled figures are not silently counted as revenue.

Figures as presented. Figures were transcribed from public slides and classified according to rules. They are presentation disclosures rather than company accounts.

From the report:Appendix A: Evidence definitions: six distinctions this report keepsAppendix A: How the research was done

Interpretation: What the report concludes

• A label can be technically plausible yet insufficient to establish how the commercial model works.

Not shown: What it does not establish

• Without clearly demonstrating the amount the company kept from a service that generated savings for customers.

Your question: The commercial question left open

• What money did the company earn?If we use a financial figure, is it revenue recognised by our company, money passing through the platform, contract value, gross profit, forecast or an annualised run rate? What is the time period, currency and source?
• What is still unproven, and what is the smallest useful next test?Rather than filling a missing slide with assumptions, identify the single uncertainty most likely to change the decision to build, sell, spend or raise.

Your test: What you could test in your own business

• The principle for your own deck: name the measure before using it as proof.

From the deck: What the slide shows

• Puts revenue, monthly recurring revenue and churn together on slide 11.Slide 11 of the Infraspeak deck: link to this claim

Report definition: What a public slide establishes

What the record showsPublicly disclosed deck evidence. What the accessible public copy of a deck shows.

What that does not establishPrivately held evidence. Public decks may be shortened, updated, rewritten, redacted or different from what was shared privately. A missing revenue or retention figure is a statement about public disclosure, not proof that the company had no such information.

What the record showsRevenue. A figure the deck explicitly labels as the company's own revenue.

What that does not establishOther money figures. Transaction volume, contract or pilot value, gross profit, annualised or projected amounts and unlabelled figures are not silently counted as revenue.

What the record showsA retention mention. Retention, repeat use or lifetime value is referred to.

What that does not establishObserved retention. A measured retention or repeat rate. Lifetime-value estimates and mentions without a figure are not observed retention.

Figures as presented. Figures were transcribed from public slides and classified according to rules. They are presentation disclosures rather than company accounts.

From the report:Appendix A: Evidence definitions: six distinctions this report keepsAppendix A: How the research was done

Interpretation: What the report concludes

• That makes the commercial argument easier to examine: there is money, a recurring component and an indication of customer loss.

Not shown: What it does not establish

The report states no separate limit for this slide beyond what it concludes above. Its definitions above still apply.

Your question: The commercial question left open

• What money did the company earn?If we use a financial figure, is it revenue recognised by our company, money passing through the platform, contract value, gross profit, forecast or an annualised run rate? What is the time period, currency and source?
• Do customers repeat the action?Are they coming back, renewing, expanding or buying again? If we are too early to measure that, what experiment would create the first observable repeat signal?
• What is still unproven, and what is the smallest useful next test?Rather than filling a missing slide with assumptions, identify the single uncertainty most likely to change the decision to build, sell, spend or raise.

Your test: What you could test in your own business

• Put revenue, the customers behind it and the cost of serving them in one view.

From the deck: What the slide shows

• Growth in recurring revenue alongside buildings and distributor counts.Slide 12 of the Mero Technologies deck: link to this claim

Report definition: What a public slide establishes

What the record showsPublicly disclosed deck evidence. What the accessible public copy of a deck shows.

What that does not establishPrivately held evidence. Public decks may be shortened, updated, rewritten, redacted or different from what was shared privately. A missing revenue or retention figure is a statement about public disclosure, not proof that the company had no such information.

What the record showsRevenue. A figure the deck explicitly labels as the company's own revenue.

What that does not establishOther money figures. Transaction volume, contract or pilot value, gross profit, annualised or projected amounts and unlabelled figures are not silently counted as revenue.

Figures as presented. Figures were transcribed from public slides and classified according to rules. They are presentation disclosures rather than company accounts.

From the report:Appendix A: Evidence definitions: six distinctions this report keepsAppendix A: How the research was done

Interpretation: What the report concludes

• The strength of the presentation is the connection between an economic outcome and the operational mechanism behind it, rather than a revenue headline floating on its own.

Not shown: What it does not establish

The report states no separate limit for this slide beyond what it concludes above. Its definitions above still apply.

Your question: The commercial question left open

• What money did the company earn?If we use a financial figure, is it revenue recognised by our company, money passing through the platform, contract value, gross profit, forecast or an annualised run rate? What is the time period, currency and source?
• What is still unproven, and what is the smallest useful next test?Rather than filling a missing slide with assumptions, identify the single uncertainty most likely to change the decision to build, sell, spend or raise.

Your test: What you could test in your own business

• Put revenue, the customers behind it and the cost of serving them in one view.

From the deck: What the slide shows

• An average sales cycle of about three months next to its pipeline.Slides 8 and 9 of the ProcureNow (Govlist) deck: link to this claim

Report definition: What a public slide establishes

What the record showsPublicly disclosed deck evidence. What the accessible public copy of a deck shows.

What that does not establishPrivately held evidence. Public decks may be shortened, updated, rewritten, redacted or different from what was shared privately. A missing revenue or retention figure is a statement about public disclosure, not proof that the company had no such information.

What the record showsA customer acquisition claim. A channel or route the deck names.

What that does not establishObserved acquisition. A concrete mechanism, measured sales cycle or tested conversion process that shows how the next sale would happen.

Figures as presented. Figures were transcribed from public slides and classified according to rules. They are presentation disclosures rather than company accounts.

From the report:Appendix A: Evidence definitions: six distinctions this report keepsAppendix A: How the research was done

Interpretation: What the report concludes

• That connects a proposed sales route to a time requirement.

Not shown: What it does not establish

The report states no separate limit for these slides beyond what it concludes above. Its definitions above still apply.

Your question: The commercial question left open

• Can we describe how to reach the next buyer?What is the customer's trigger, where can we access them, what message earns a response and what is the next commercial action? Can we test this with a modest number of reachable buyers?
• What is still unproven, and what is the smallest useful next test?Rather than filling a missing slide with assumptions, identify the single uncertainty most likely to change the decision to build, sell, spend or raise.

Your test: What you could test in your own business

• A useful next-customer statement therefore has a testable shape: We believe people in this situation can be reached through this route, will respond to this proposition, and will take this observable commercial action.
• The next experiment tests the weakest link in that sentence.

From the deck: What the slide shows

• Tutor acquisition cost and the students a tutor brought onto the platform.Slide 14 of the Laoshi deck: link to this claim

Report definition: What a public slide establishes

What the record showsPublicly disclosed deck evidence. What the accessible public copy of a deck shows.

What that does not establishPrivately held evidence. Public decks may be shortened, updated, rewritten, redacted or different from what was shared privately. A missing revenue or retention figure is a statement about public disclosure, not proof that the company had no such information.

What the record showsA customer acquisition claim. A channel or route the deck names.

What that does not establishObserved acquisition. A concrete mechanism, measured sales cycle or tested conversion process that shows how the next sale would happen.

Figures as presented. Figures were transcribed from public slides and classified according to rules. They are presentation disclosures rather than company accounts.

From the report:Appendix A: Evidence definitions: six distinctions this report keepsAppendix A: How the research was done

Interpretation: What the report concludes

• Drawing attention to a mechanism of distribution rather than a generic channel label.

Not shown: What it does not establish

The report states no separate limit for this slide beyond what it concludes above. Its definitions above still apply.

Your question: The commercial question left open

• Can we describe how to reach the next buyer?What is the customer's trigger, where can we access them, what message earns a response and what is the next commercial action? Can we test this with a modest number of reachable buyers?
• What is still unproven, and what is the smallest useful next test?Rather than filling a missing slide with assumptions, identify the single uncertainty most likely to change the decision to build, sell, spend or raise.

Your test: What you could test in your own business

• A useful next-customer statement therefore has a testable shape: We believe people in this situation can be reached through this route, will respond to this proposition, and will take this observable commercial action.
• The next experiment tests the weakest link in that sentence.

From the deck: What the slide shows

• Founders with technology and fintech experience, including one documented earlier exit, while the product was still to be built.Slides 2 and 5 of the Kamino deck: link to this claim

Report definition: What a public slide establishes

What the record showsPublicly disclosed deck evidence. What the accessible public copy of a deck shows.

What that does not establishPrivately held evidence. Public decks may be shortened, updated, rewritten, redacted or different from what was shared privately. A missing revenue or retention figure is a statement about public disclosure, not proof that the company had no such information.

Figures as presented. Figures were transcribed from public slides and classified according to rules. They are presentation disclosures rather than company accounts.

From the report:Appendix A: Evidence definitions: six distinctions this report keepsAppendix A: How the research was done

Interpretation: What the report concludes

• The deck demonstrates how a team can present expertise before presenting customer results, not that expertise removes the need for later market learning.

Not shown: What it does not establish

The report states no separate limit for these slides beyond what it concludes above. Its definitions above still apply.

Your question: The commercial question left open

• What customer action has actually occurred?Was there an interview, waitlist sign-up, pilot agreement, activation, repeat use, payment or renewal? Each action has a different meaning. Which one do we currently have?
• What is still unproven, and what is the smallest useful next test?Rather than filling a missing slide with assumptions, identify the single uncertainty most likely to change the decision to build, sell, spend or raise.

Your test: What you could test in your own business

• The lesson for any founder: use the strongest evidence that exists, and let customers, rather than somebody else's credibility or fundraising context, show that the demand is there.

From the deck: What the slide shows

• Revolut's 2015 public deck described 4,800 sign-ups accumulated in one month and nine deals, including one with MasterCard (slides 9 and 10), in the context of a £1.5 million funding request.Slides 9 and 10 of the Revolut deck: link to this claim

Report definition: What a public slide establishes

What the record showsPublicly disclosed deck evidence. What the accessible public copy of a deck shows.

What that does not establishPrivately held evidence. Public decks may be shortened, updated, rewritten, redacted or different from what was shared privately. A missing revenue or retention figure is a statement about public disclosure, not proof that the company had no such information.

Figures as presented. Figures were transcribed from public slides and classified according to rules. They are presentation disclosures rather than company accounts.

From the report:Appendix A: Evidence definitions: six distinctions this report keepsAppendix A: How the research was done

Interpretation: What the report concludes

• Those are forms of pre-launch interest and partnership development, not a demonstration of already recurring customer revenue.
• They help explain why early teams can reasonably present evidence appropriate to their stage.

Not shown: What it does not establish

The report states no separate limit for these slides beyond what it concludes above. Its definitions above still apply.

Your question: The commercial question left open

• What customer action has actually occurred?Was there an interview, waitlist sign-up, pilot agreement, activation, repeat use, payment or renewal? Each action has a different meaning. Which one do we currently have?
• What is still unproven, and what is the smallest useful next test?Rather than filling a missing slide with assumptions, identify the single uncertainty most likely to change the decision to build, sell, spend or raise.

Your test: What you could test in your own business

• The lesson for any founder: use the strongest evidence that exists, and let customers, rather than somebody else's credibility or fundraising context, show that the demand is there.

From the deck: What the slide shows

• Seven bars, 2,200 users, approximately 120 orders a week, $12,450 of total sales across three months, and a cost of $1,500–$2,500 to win each bar.Slide 7 of the Flowtab deck: link to this claim

Report definition: What a public slide establishes

What the record showsPublicly disclosed deck evidence. What the accessible public copy of a deck shows.

What that does not establishPrivately held evidence. Public decks may be shortened, updated, rewritten, redacted or different from what was shared privately. A missing revenue or retention figure is a statement about public disclosure, not proof that the company had no such information.

What the record showsRevenue. A figure the deck explicitly labels as the company's own revenue.

What that does not establishOther money figures. Transaction volume, contract or pilot value, gross profit, annualised or projected amounts and unlabelled figures are not silently counted as revenue.

What the record showsA retention mention. Retention, repeat use or lifetime value is referred to.

What that does not establishObserved retention. A measured retention or repeat rate. Lifetime-value estimates and mentions without a figure are not observed retention.

What the record showsA customer acquisition claim. A channel or route the deck names.

What that does not establishObserved acquisition. A concrete mechanism, measured sales cycle or tested conversion process that shows how the next sale would happen.

Figures as presented. Figures were transcribed from public slides and classified according to rules. They are presentation disclosures rather than company accounts.

From the report:Appendix A: Evidence definitions: six distinctions this report keepsAppendix A: How the research was done

Interpretation: What the report concludes

• A large volume of activity may validate interest. It does not automatically settle the economics.

Not shown: What it does not establish

• If “total sales” means drink sales going through the product rather than revenue retained by Flowtab, what amount did the company actually earn?
• How many transactions repeated, and what did it cost to keep each venue active?
• The slide does not provide enough information to conclude whether acquisition costs were recovered, whether the model could sustain itself or what happened later to the company.

Your question: The commercial question left open

• What money did the company earn?If we use a financial figure, is it revenue recognised by our company, money passing through the platform, contract value, gross profit, forecast or an annualised run rate? What is the time period, currency and source?
• Do customers repeat the action?Are they coming back, renewing, expanding or buying again? If we are too early to measure that, what experiment would create the first observable repeat signal?
• Can we describe how to reach the next buyer?What is the customer's trigger, where can we access them, what message earns a response and what is the next commercial action? Can we test this with a modest number of reachable buyers?
• What is still unproven, and what is the smallest useful next test?Rather than filling a missing slide with assumptions, identify the single uncertainty most likely to change the decision to build, sell, spend or raise.

Your test: What you could test in your own business

• The next useful commercial test for a business like this is to put acquisition cost, revenue retained by the company, the period and repeat behaviour in one view.

From the deck: What the slide shows

• 70 paying customers, an $84,000 annualised revenue run rate, a margin claim and named enterprise relationships.Slides 6 and 8 of the Bliss.ai deck: link to this claim

Report definition: What a public slide establishes

What the record showsPublicly disclosed deck evidence. What the accessible public copy of a deck shows.

What that does not establishPrivately held evidence. Public decks may be shortened, updated, rewritten, redacted or different from what was shared privately. A missing revenue or retention figure is a statement about public disclosure, not proof that the company had no such information.

What the record showsRevenue. A figure the deck explicitly labels as the company's own revenue.

What that does not establishOther money figures. Transaction volume, contract or pilot value, gross profit, annualised or projected amounts and unlabelled figures are not silently counted as revenue.

What the record showsA retention mention. Retention, repeat use or lifetime value is referred to.

What that does not establishObserved retention. A measured retention or repeat rate. Lifetime-value estimates and mentions without a figure are not observed retention.

What the record showsA customer acquisition claim. A channel or route the deck names.

What that does not establishObserved acquisition. A concrete mechanism, measured sales cycle or tested conversion process that shows how the next sale would happen.

Figures as presented. Figures were transcribed from public slides and classified according to rules. They are presentation disclosures rather than company accounts.

From the report:Appendix A: Evidence definitions: six distinctions this report keepsAppendix A: How the research was done

Interpretation: What the report concludes

• They show more than a sign-up count.

Not shown: What it does not establish

• They leave useful questions open about customer lifetime, repeat purchasing, acquisition economics and how the company captured value.

Your question: The commercial question left open

• What customer action has actually occurred?Was there an interview, waitlist sign-up, pilot agreement, activation, repeat use, payment or renewal? Each action has a different meaning. Which one do we currently have?
• What money did the company earn?If we use a financial figure, is it revenue recognised by our company, money passing through the platform, contract value, gross profit, forecast or an annualised run rate? What is the time period, currency and source?
• Do customers repeat the action?Are they coming back, renewing, expanding or buying again? If we are too early to measure that, what experiment would create the first observable repeat signal?
• Can we describe how to reach the next buyer?What is the customer's trigger, where can we access them, what message earns a response and what is the next commercial action? Can we test this with a modest number of reachable buyers?
• What is still unproven, and what is the smallest useful next test?Rather than filling a missing slide with assumptions, identify the single uncertainty most likely to change the decision to build, sell, spend or raise.

Your test: What you could test in your own business

• Paid customers but unknown acquisition cost: the commercial unknown is no longer whether people will pay at all.

From the deck: What the slide shows

• Showed rental units under management rising from four to 49 since a soft launch on 1 January and stated a price of $79 per unit per month.Slides 7 and 8 of the Castle deck: link to this claim

Report definition: What a public slide establishes

What the record showsPublicly disclosed deck evidence. What the accessible public copy of a deck shows.

What that does not establishPrivately held evidence. Public decks may be shortened, updated, rewritten, redacted or different from what was shared privately. A missing revenue or retention figure is a statement about public disclosure, not proof that the company had no such information.

What the record showsRevenue. A figure the deck explicitly labels as the company's own revenue.

What that does not establishOther money figures. Transaction volume, contract or pilot value, gross profit, annualised or projected amounts and unlabelled figures are not silently counted as revenue.

What the record showsA retention mention. Retention, repeat use or lifetime value is referred to.

What that does not establishObserved retention. A measured retention or repeat rate. Lifetime-value estimates and mentions without a figure are not observed retention.

Figures as presented. Figures were transcribed from public slides and classified according to rules. They are presentation disclosures rather than company accounts.

From the report:Appendix A: Evidence definitions: six distinctions this report keepsAppendix A: How the research was done

Interpretation: What the report concludes

• Those two pieces of information can help a reader understand the possible economics of a property-management offer.

Not shown: What it does not establish

• The next questions are whether every unit paid the stated fee, whether revenue was collected and whether retention was strong.

Your question: The commercial question left open

• What customer action has actually occurred?Was there an interview, waitlist sign-up, pilot agreement, activation, repeat use, payment or renewal? Each action has a different meaning. Which one do we currently have?
• What money did the company earn?If we use a financial figure, is it revenue recognised by our company, money passing through the platform, contract value, gross profit, forecast or an annualised run rate? What is the time period, currency and source?
• Do customers repeat the action?Are they coming back, renewing, expanding or buying again? If we are too early to measure that, what experiment would create the first observable repeat signal?
• What is still unproven, and what is the smallest useful next test?Rather than filling a missing slide with assumptions, identify the single uncertainty most likely to change the decision to build, sell, spend or raise.

Your test: What you could test in your own business

• The test here is to link the growth of units to realised billing, servicing cost and retention.

From the deck: What the slide shows

• Requested $10 million towards UK banking authorisation on slide 13.Slide 13 of the Standard Treasury deck: link to this claim
• The 24-month budget shown on slide 14 was approximately $9 million.Slide 14 of the Standard Treasury deck: link to this claim
• Slide 25 contains startup logos and references to soft commitments.Slide 25 of the Standard Treasury deck: link to this claim

Report definition: What a public slide establishes

What the record showsPublicly disclosed deck evidence. What the accessible public copy of a deck shows.

What that does not establishPrivately held evidence. Public decks may be shortened, updated, rewritten, redacted or different from what was shared privately. A missing revenue or retention figure is a statement about public disclosure, not proof that the company had no such information.

Figures as presented. Figures were transcribed from public slides and classified according to rules. They are presentation disclosures rather than company accounts.

From the report:Appendix A: Evidence definitions: six distinctions this report keepsAppendix A: How the research was done

Interpretation: What the report concludes

• The request and the spending plan serve different purposes. Neither should be silently substituted for the other.

Not shown: What it does not establish

• The logos do not establish five separately confirmed binding commitments.

Your question: The commercial question left open

• What customer action has actually occurred?Was there an interview, waitlist sign-up, pilot agreement, activation, repeat use, payment or renewal? Each action has a different meaning. Which one do we currently have?
• What is still unproven, and what is the smallest useful next test?Rather than filling a missing slide with assumptions, identify the single uncertainty most likely to change the decision to build, sell, spend or raise.

Your test: What you could test in your own business

• A commitment can be important evidence, but the document must say what has actually been promised, by whom and under which conditions.