Q3 FY26 Business Review

Quarterly business review deck

A ten slide quarterly business review deck for Northgate Learning, an invented subscription software business that beat its new revenue target and missed on churn in the same quarter. The scorecard shows three metrics behind plan, one chart explains why, and the next quarter is reduced to two objectives with the board's decisions on the last slide.

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Q3 FY26

Growth held, churn did not

Quarterly business review for the board

Presented

14 August 2026

By

Marcus Bell, COO

Company

Northgate Learning

Slide 1 · Cover: the verdict in five words, growth held, churn did not, with presenter and date.

Scorecard

The quarter against plan

Metric
Target
Actual
Variance
Status
New ARR
$1.60M
$1.74M
+9%
Ahead
Gross churn
3.0%
4.6%
+1.6pt
Behind
Net revenue retention
108%
101%
-7pt
Behind
Gross margin
76%
78%
+2pt
Ahead
CAC payback
14 mo
13 mo
-1 mo
Ahead
Support first response
2h
3h 40m
+1h 40m
Behind
Cash runway
20 mo
22 mo
+2 mo
Ahead
Variance is against the plan approved in May. Status is set by the metric owner.

02

Slide 2 · Scorecard: seven metrics with target, actual, variance and status, three behind.

Revenue and churn moved together

Monthly recurring revenue in thousands of dollars, against churned revenue for the same month.

Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
0k150k300k450k600k
New MRR
Churned MRR

03

Slide 3 · Revenue and churn: new MRR against churned MRR by month, on one chart.

What onboarding changed

Cohorts before and after the March onboarding rebuild.

Measure

Before

After

Change

Time to first class

11 days

4 days

-64%

Setup completed

61%

84%

+23pt

Support tickets, week 1

3.4

1.9

-44%

Active in month 2

72%

86%

+14pt

Seats used in month 3

54%

71%

+17pt

Churn by month 6

9.1%

5.8%

-3.3pt

Cohorts signed up October to February
Cohorts signed up March to June

04

Slide 4 · What onboarding changed: six measures for cohorts before and after the March rebuild.

Pipeline

Where the quarter was won and lost

Qualified opportunities

486

Pilots started

214

Pilots converted

119

Live and paying

108

05

Slide 5 · Pipeline: the funnel from 486 qualified opportunities to 108 live and paying.

Objectives for Q4

Two objectives only. Everything else is business as usual and stays off this page.

Stop the churn in mid-market accounts

Gross churn to 3.2%

From 4.6 percent, measured on revenue, with the mid-market cohort reported separately.

Health score live

Usage based health score on every account over $20k, reviewed weekly by the CS team.

Save plays running

A documented save play triggered within 48 hours of an account going amber.

Make support match the promise

First response under 2h

From 3 hours 40, including the 8am to 6pm window across both time zones.

Two more agents

Hired and trained by the end of October, both with school sector experience.

Deflection at 25%

Help centre rewritten around the twenty questions that drive most tickets.

06

Slide 6 · Objectives for Q4: two objectives with three key results each, nothing else on the page.

The next four quarters

What each quarter has to deliver for the FY28 plan to hold.

Q4 FY26

Churn program lands: health scores, save plays and two support hires. Pricing review completed with the board. Onboarding rebuild extended to the enterprise tier.

Q1 FY27

Renewals season. Every account over $20k gets a review meeting before its renewal date. Reporting module ships, the top request from mid-market accounts for two years.

Q2 FY27

Expansion focus: seat growth inside existing districts, backed by the usage data the health score now collects. First integration partner goes live.

Q3 FY27

New segment trial in vocational training, with three paid pilots. Decision at quarter end on whether it earns a dedicated team in FY28.

07

Slide 7 · The next four quarters: what each must deliver for the FY28 plan to hold.

Watch list

Risks and what we need

Risks

Two mid-market renewals worth $410k are in doubt, both citing reporting gaps.

Support headcount is the single point of failure for the response time target.

One competitor has moved to per district pricing, which reads cheaper on first pass.

Term start in February compresses onboarding into a three week window.

Data residency questions are appearing in tenders and we have no formal answer yet.

What we are asking for

Approval for two support hires now rather than in the FY27 budget round.

Sign off to bring the reporting module forward by one quarter.

A board sponsor for the pricing review, with a decision by mid October.

Budget for a data residency assessment, roughly $40k and six weeks.

Agreement that Q4 ships nothing new outside the two objectives above.

08

Slide 8 · Watch list: five risks, each paired with what the board is asked for.

The quarter in a line

We sold well and kept badly. Q4 is about holding what we already won.

Marcus Bell, COO

09

Slide 9 · The quarter in a line, as a quote from the COO.

What happens next

Decisions requested today, actions start Monday

Approve the two support hires and the reporting module bring-forward, and name a sponsor for the pricing review. The churn program starts on Monday either way, but without those three decisions the 3.2 percent target moves out a quarter. Full metric detail and the account level churn breakdown are in the appendix pack sent on Tuesday.

Marcus Bell, COO, Northgate Learning

10

Slide 10 · What happens next: three decisions requested today and where the appendix lives.

What makes this deck work

The scorecard shows misses

Slide two lists seven metrics against plan, with gross churn at 4.6 percent against a 3.0 target and net revenue retention at 101 against 108, both marked behind. A board reads a scorecard with misses closely and skims one that is all green.

Two objectives, not ten

Slide six carries two objectives for Q4, stop the churn in mid market accounts and make support match the promise, with three key results under each. Andreessen Horowitz's metrics guide separates gross churn from net churn, and the target here is gross churn to 3.2 percent, so upsell cannot hide it.

Risks are paired with asks

Slide eight puts five risks on the left, including two renewals worth $410,000 in doubt, and next to each one the decision the board is asked to make. It turns a status update into a working meeting, and slide ten repeats the three decisions.

Questions people ask

What should a board QBR presentation include?

A scorecard against plan, the chart behind the biggest miss, what changed, next quarter objectives, risks and the decisions needed. Northgate's ten slides do that for Q3 FY26: seven metrics with three behind, new MRR against churned MRR, two Q4 objectives, five risks beside five asks, and three decisions on the last slide.

How do you present a quarter that beat on revenue and missed on churn?

Lead with both. The cover reads growth held, churn did not, and the scorecard marks gross churn at 4.6 percent against 3.0 and net revenue retention at 101 against 108 as behind, beside new ARR 9 percent ahead. Slide three then puts new and churned MRR on one chart, so the room sees both moving rather than the good number alone.

Where should the detailed metrics go in a QBR?

In an appendix sent before the meeting. This deck keeps ten slides for the room and says on the last one that the account level churn breakdown is in the appendix pack sent on Tuesday. The meeting is for decisions on support hires, the reporting module and the pricing review, and a long metrics table crowds those out.

How do OKRs fit into a quarterly business review deck?

As one slide of next quarter objectives, two at most. Slide six sets stop the churn in mid-market accounts and make support match the promise, each with three key results, such as gross churn to 3.2 percent and first response under two hours. Google's re:Work guide describes the same shape: a few objectives, each with key results that can be measured.

What is the difference between a QBR and a board meeting?

A QBR reviews how the business ran and sets what happens next; a board meeting adds governance, resolutions and the things only directors can approve. This deck ends on three decisions the leadership team is asking for, which is the QBR version of the same idea, with the detailed metric tables kept in an appendix.

How do I show that a fix actually worked?

Compare the same measures before and after it. Slide four takes six of them across cohorts either side of the March onboarding rebuild, which attaches the change to a cause rather than to a quarter. Without that pairing a room will credit the improvement to whatever else happened in the same three months.

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