Top-three customer concentration
CrossedAt approval62%→New evidence71%
The conditionBelow 65%
The new observation is 6 percentage points above the condition.
The product · Ask Stayvn
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evidence say?
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Ask StayvnVertex Series BYOUR QUESTION
How concentrated is Vertex’s revenue compared with Northwind and Meridian?
StayvnVertex’s top three customers account for 68% of recurring revenue. Northwind’s account for 38%.
Meridian’s concentration is not in evidence. There is no figure to estimate from.
312 passages read41 relevant11 cited
KEEP THE CONVERSATION GOING
TOP-THREE CUSTOMER CONCENTRATIONSame measure.
Same measure.
Different exposure.
Thesis condition · below 60%
0%100% of recurring revenue
| Company | Concentration | Evidence |
|---|---|---|
| Vertex | 68% | Due diligence v2 |
| Northwind | 38% | Data room export |
| Meridian | Not in evidence | Broker deck |
Vertex report v2 · observed 14 Sep 2026Northwind export · observed 3 Sep 2026Checked 10:34 · 23 Oct 2026
YOUR FOLLOW-UPStayvn
StayvnMissing evidence stays missing. Every figure keeps its source.
01 PULSE · MARKET · ORGANISATION
Your organisation,
in context.
A document changes. A competitor moves. A decision needs a person. Bring the inside and outside views together.
PulseHiveTech · OrganisationSINCE YOU LAST CHECKED · TUE 09:40
17signals detected
5materially relevant
3decisions affected
1requires review
12 filtered as noise. The changes that matter stay connected to the decisions they affect.
Needs review
Acme’s condition moved.
Customer concentration is now 71%. The memo requires it to stay below 65%.
STAYVN PROPOSES
Read the decisionProceed only if the top three customer contracts are validated.
Last successful check · 10:34 today12 watching · 1 failed
MarketHiveTechBeacon’s pricing.
Its pricing page, unchanged.
Northwind’s newsroom.
Releases, as they are published.
An exit from EMEA.
Northwind announces its withdrawal.
HiveTechOne organisation · shared contextA HOME FOR EVERY DECISIONProjects keep the
Projects keep the
context together.
Questions, sources, memos and watched assumptions belong to the work they inform. People bring their roles with them.
SCMAAROne team. Defined roles.
Explore permissions01Acme acquisitionDecision memo · sources · watched assumptionsNeeds review
02Vertex Series BQuestions · cited passages · comparisons
03TechVistaPortfolio company
04NovaBridgePortfolio company
02 FIGURES & VERSION HISTORY
A decision has
a history.
Read the figures that carry the argument. Follow the versions, the people and the evidence that changed it.
Decision memoACME ACQUISITION
Decision · in effectThe numbers behind the recommendation.
Asking valuation · EV / ARR
Not yet met9.2×14 comparables
7.5–8.5×
7.5–8.5×
8.1× medianAcme 9.2×
The conditionRenegotiated to 8.5× or below
Only the figures a claim cites and a condition depends on.
ACME ACQUISITIONDecision · in effect
Proceed with conditions.
Acme presents strong strategic fit and attractive market access, but the current valuation and customer concentration create material downside risk.
Proceed only if the valuation is renegotiated and the top three customer contracts are validated.
9 claims · 5 criteria · 2 conditions
SC
Sarah Chen · ApproverApproved the decision
Six watches began when Sarah approved the decision.
ACME ACQUISITIONRevision 2 · awaiting approval
Proceed only if the top three customer contracts are validated.
Customer concentration moved from 62% to 71%. The financial model now crosses the decision’s below-65% condition.
The valuation condition becomes advisory. The customer-contract condition stays.
2 of 4 sentences change · no claims added
ST
Proposed by Stayvn23 Oct · 10:42
The approved decision stays in effect until a person approves this revision.
ACME ACQUISITIONDraft · superseded
Proceed with conditions.
Acme is the strongest route into the enterprise segment before Beacon moves.
Proceed subject to renegotiating the valuation range.
7 claims · 4 criteria · 1 condition
MA
Marcus Ainsley · Owner12 Aug 2026
No watches had started. This draft was replaced by the approved decision.
Every version stays readable. Every approval keeps its person.Follow the whole journey
The next step
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