ok so the q3 budget meeting was last thursday, here are my notes, they're kind of rough sorry

tom from finance said we probably need to cut the marketing budget by about 15% next quarter, but he wasn't sure if that includes the digital spend or just traditional. maria pushed back and said cutting digital would be a mistake because the CAC on paid social has dropped to like $42 which is pretty good compared to the $67 we were seeing in Q2. she thinks we should probably increase digital by maybe 10% and cut the print/outdoor stuff instead.

the new hire budget is... complicated. HR wants 12 new positions but finance says we can realistically approve 8, possibly 9 if the atlanta office lease negotiations go well (they might save us approximately $180K annually which could fund another position or two). the breakdown they suggested was 4 engineering, 2 sales, 1 customer success, and 1 data analyst. engineering really wants a 5th person because the platform migration is behind schedule.

re: the platform migration — jake mentioned it's roughly 60% complete and the deadline is end of Q4 but he's not confident they'll make it. his best guess is probably february, maybe march. the main blocker is the data migration from the legacy oracle DB which is taking longer than expected. they've processed about 2.3 million records out of an estimated 8.5 million total.

revenue projections for Q4 look decent. projected revenue is $4.2M which would be up around 12% from Q3. the enterprise pipeline has 3 deals in final stages: Acme Corp ($340K ARR), Pinnacle Industries ($520K ARR), and something called "Project Lighthouse" which they couldn't discuss in detail but is apparently quite large, probably north of $800K.

one thing that came up — the customer churn rate ticked up from 3.2% to 4.1% in september. nobody seemed super alarmed but lisa from CS said she'd investigate. she suspects it's related to the price increase we did in august for the basic tier (from $29 to $39/month). there might be some correlation there.

office stuff: the SF office AC system needs replacing, estimated cost around $45K. they're getting 3 quotes. the NYC office expansion is on hold until we know about the atlanta savings. someone mentioned we should consider going fully remote for the portland team since the lease is up in april and the utilization is only about 40%.
