Cash runway is comfortable at $2.4M against a $250K monthly burn, roughly 10 months of oxygen, and Rule of 40 at 48.5% looks healthy but is being carried almost entirely by 94.8% gross margin rather than growth. NRR at 100.2% means expansion is not compounding, and with pipeline coverage of 3.0x on only $150K of pipe against a 23% win rate, next quarter's net new ARR will not close the gap to burn.