T-981 days. 2026-Q1 consolidated revenue $17.6M, pacing +18% YoY. Base-case path to 2028 hits $141M (≈ $155M); P50 of 2000-iteration Monte Carlo lands at $138M with P(≥ $150M) = 42%. Two material levers move that probability: (a) Nimbus LATAM exclusivity continuation, (b) M&A close discipline through 2027.
This month's three decisions
1. Helios Data — proceed to LOI?
Owner: Elena · Recommended: Jeff (technical DD lead)
Dissent (Elena): earn-out without top-1 retention clause is unacceptable; LOI must be conditioned on it.
2. Atlas AI pricing — public price card or stay confidential?
Owner: Jeff · Recommended: Priya (CMO)
Public pricing creates IPO narrative ("product business, not services") but constrains enterprise negotiation. Sales bookings down 4% in pilots when pricing visible. Compromise: floor price card, custom upside.
3. Hardware reseller line at Sentinel — divest or restructure?
Owner: Juan Carlos · Recommended: Marcus
Hardware margin compressed −4.2pp YoY to 18%; mix still 48% of Sentinel revenue. Either renegotiate tier-1 vendor or accept the contraction as recurring shifts.
Dissent (Marcus): hardware is the pull-through for services revenue; divest only after subscription mix > 30%.
Material changes since April board
+ Nimbus Strategic Partner Sales Executive LATAM award to Nalia Silva (2026-04-20)
+ Country Director, Americas transition: Ana Ribeiro → Marco Bellini (2026-04-06)
+ Nimbus file-based licensing sunset announced; Sentinel LAS consulting line activated (2026-04-15)
+ NetSuite FX close running 3d behind; Elena flagged.
– Hardware margin compression at Sentinel continues (−4.2pp YoY)
Risk register
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Frozen snapshots · immutable record
Every monthly board generates a frozen snapshot with the data, FX rates, and model versions at the time. Auditors and bankers ask "what did the board see in March 2026?" and get the literal view.