---
title: Fernhill · September update
updated: 2026-10-10
lang: en
myone.page: true
---

# Fernhill investor update, September 2026.
# Runway ==18 months==, MRR up 12%.

Monthly update to investors and advisors: the numbers, highlights and lowlights, what we need, and last month's goals scored. Fernhill is bookkeeping software for small agencies. Numbers are from September 30.

## 01 · The numbers
month over month

> [!stats]
> - [x] **\$84.2K** MRR, up 12% from August
> - **412** paying customers
> - [x] **118%** net revenue retention
> - [!] **\$142K** net burn, up from \$121K

%% table accentCol=3 cols="1.4fr 1fr 1fr 1fr" %%
| Metric | July | August | September |
| --- | --- | --- | --- |
| MRR | \$68.9K | \$75.2K | \$84.2K |
| Paying customers | 351 | 380 | 412 |
| Logo churn | 2.9% | 2.4% | 1.9% |
| Cash in bank | \$2.88M | \$2.75M | \$2.61M |

### Trial to paid in September

> [!cascade]
> - **1,940** trials started
>   72% from partner accountants
> - **610** connected a bank account
>   the step that predicts payment
> - **96** became paying customers
>   5% of trials, up from 3.8% in June

## 02 · What happened

### Highlights

> [!cards]
> - **The accountant channel works** 14 partner firms now refer clients; they brought 41% of new revenue.
> - **Annual plans** 31% of new customers chose yearly billing after we added a two-month discount.

### Lowlights

> [!cards]
> - **Support load** Tickets per customer rose 30%. Bank sync errors cause most of them.
> - **No head of support yet** Three finalists, no offer. We are two months behind the plan for this hire.

> [!lineage] Why burn went up
> Two engineers joined in August to fix bank sync. We expect tickets to drop by November and burn to stay flat after.

## 03 · Asks
how you can help this month

1. **Intros to accounting firms.** Firms with 10–50 staff that serve agencies or studios.
2. **A head of support.** Someone who has scaled a support team from 2 to 10.
3. **Bank data providers.** Anyone who has negotiated pricing with Plaid or TrueLayer.

## 04 · Goals
September scored, October set

### September, scored

%% table cols="1.4fr 1fr 110px" pillCol=2 %%
| September goal | Result | Hit |
| --- | --- | --- |
| MRR \$82K | \$84.2K | yes |
| Bank sync errors under 2% of syncs | 3.1% | no |
| Head of support offer out | three finalists, no offer | no |

### October goals

1. **MRR \$92K.** The partner firms signed in September start referring in October.
2. **Bank sync errors under 2%.** The new sync service goes live on October 14.
3. **Head of support hired.** An offer out by October 20.

**Next update:** first week of November, with Q3 closed books.