June 2026 · The Tuesday page
Blended Contribution Margin
$21,788 63.2%
$34,452 net revenue less COGS, freight, packaging, fees
H1 blended 66.4% · down from 70.7% in May
Cash In Expected · Next 30 Days
$26,335
12 open invoices, all due by Aug 22
$44k invoiced · $3,698 past due
Revenue · June vs May
−3.8%
$34,452 vs $35,799 · first down month since March
Quarter view: Q2 +93% vs Q1
Cash On Hand · Jun 30
$34,061
Checking $15,802 · Digit $14,211 · Savings $4,047
Only 46% is in the operating account
CM fell to 63.2% from 70.7% — worth a look. Revenue was flat, so it is all cost: account 515 hit $4,717 vs $2,440 in May, split between $3,606 freight and $1,111 of Uline packaging — a restock that did not happen in May. Gross margin actually improved to 74.2%. A freight-and-restock month, not a pricing problem.
$3,698 is past due across three accounts — Great Smoky Mountains $2,447, Acadia $1,175, Jefferson $75. Those three calls are the highest-value hour on this page.
Cash & runway · weekly
Cash · Jun 28 week-end
$35,449
Three NM accounts
Avg weekly gross burn
$7,654
Trailing 5-week average
Runway · gross basis
4.63 wks
Ignores $26,335 of AR inbound
Worst week in June
3.12 wks
Wk Jun 14 — burn hit $10,490
Weekly cash, burn and runway
Cash balance (week-end)
5-week moving-avg gross burn
Runway (weeks, right axis)
Xero GL, all three NM cash accounts; week-ends tie to the month-end balance sheet. Red line is a trailing 5-week average of outflows. Gross basis ignores all money coming in — with $26,335 of AR due inside 30 days the real position is better. Read it as a floor, and as a warning if it trends down for several weeks.
Blended contribution margin trend — Jan–Jun 2026
Contribution margin $
Contribution margin % (right axis)
Xero basis, all of account 515 included. No advertising deducted — Etsy Ads, Meta and Klaviyo are OpEx, so this is pure unit economics. Product COGS is a flat 20.2% (H1 blended); monthly actuals swing 9.3%–45.8% because inventory is bought in bulk, so read the line, not the points.
Cash in — next 4 weeks
Past due
Due on terms
Bucketed by payment due date. Week of Aug 12 carries $13,373 across four accounts — the biggest collection week of the quarter.
Terms used on this dashboard
Net revenueSales − refunds − discounts − sales tax. Shipping charged to the customer counts as revenue.
Contribution marginNet revenue − product cost − freight − packaging − merchant fees. Stops before rent, payroll, software and all advertising — so it answers "does this sale pay for itself?"
Product COGSEstimated at 20.2% of revenue, same rate for every channel — inventory is bought in bulk and no per-SKU cost exists.
Runway (gross)Cash ÷ average weekly cash out, ignoring money coming in. A deliberately pessimistic floor, not a forecast.
June 2026 · Channel performance & contribution
Revenue With No Shipping Data
$4,635 13.5%
Faire $2,131 · West Elm $1,361 · Stripe $1,142
Their CM% is a ceiling, not a fact
Wholesale Share of Revenue
60.1%
Wholesale B2B $18,580 + Faire $2,131
Was 0% in January. No threshold set
Freight Attributed to a Channel
92.2%
$3,326 of $3,606 freight · $280 unexplained
Plus $1,111 Uline packaging — a restock, not freight
Least Efficient Channel · by CM ratio
Etsy 57.4%
vs 65.8–69.3% for channels with real freight data
37.3% once $1,390 of Etsy Ads is charged back
Wholesale CM is 69.3%, not 76.6%. Package-level freight data triples its shipping cost to $1,953 — wholesale ships 3.85 packages per order and the old export counted one. It is now barely ahead of Shopify DTC at 67.0%.
Wholesale shipping is break-even. On the 9 orders in both systems: charged $1,145, cost $1,148.
West Elm, Faire and Stripe carry no freight at all — none appears in ShipStation, so their CM is a ceiling. West Elm's 79.8% is the least trustworthy number here; SPS Commerce access will finally price it.
Etsy: 57.4% before marketing, 37.3% after. Ad spend now sits in OpEx, so it is excluded above. Both matter — unit economics work, customer acquisition does not pay for itself. Least efficient channel either way.
Size vs efficiency — every channel, June 2026
Horizontal = size (log scale). Vertical = efficiency. Bubble = CM dollars. Green band is the 65%+ healthy zone. Small can still be fine — Collective is tiny but efficient. Etsy is the only channel below the band, and it is not small — and that is at 57.4%, before ad spend would drop it to 37.3%. Hollow bubbles have no freight captured, so sit lower than plotted. The four channels with real freight data cluster tightly at 65.8–69.3%.
Where each revenue dollar goes, by channel
Each bar is 100% of that channel's own revenue. Green = what the channel keeps. Product COGS reads 20.2% on every bar because it is one flat assumption — no per-SKU cost reference exists. That flatters wholesale most, which sells at 51.6% of MSRP and likely carries a higher true product cost. Faire, West Elm and Stripe show no freight because none is captured. The faded Etsy Ads bar is not deducted — shown only to indicate Etsy's 37.3% after marketing.
Gross sales → contribution margin — all channels
Sankey library unavailable. This diagram needs an internet connection the first time it loads (ECharts from jsDelivr). The same figures are in the cost-structure chart above.
Contribution margin is the bottom-right node — what is left after every cost above it. Account 515 is split into its two real parts: $3,606 freight (92.2% channel-attributed) and $1,111 Uline packaging, a periodic restock rather than a per-order cost. Lumping them together is what made freight look unattributable before. No advertising deducted. Discounts are a floor, not a total — $619 is only what Etsy and Shopify report; Order Circle records zero and Faire, West Elm and Stripe have no gross data. Separately: wholesale sells at 51.6% of MSRP, which is trade pricing, not a discount.
Gross sales → contribution margin — Etsy Lowest CM ratio · 37.3%
Sankey library unavailable. This diagram needs an internet connection the first time it loads (ECharts from jsDelivr).
Isolated on efficiency, not size. Gross-to-net is fully measurable here — $375 refunds + $143 marketplace tax, reconciling to Xero's $6,888. Etsy Ads is excluded (OpEx), which is why this reads 57.4% rather than the 37.3% Etsy delivers after marketing. Unit economics work; customer acquisition does not pay for itself. Marketplace fees at 10.2% of net are double Shopify's. Reaching the 65% house average is worth ~$520/month.
Revenue by channel — week by week
Monday–Sunday, platform-sourced, so it refreshes weekly. Wholesale is lumpy — $0 in the week of Jun 29, $13,373 in the week of Jul 13, as large POs land irregularly. Etsy and Shopify DTC are the steady base. Faire, West Elm and Stripe are absent — no platform export, so ~13% of revenue cannot be shown weekly. Wholesale on order date, DTC on sale date.
Shipping cost by channel — package-level
Package-level export — each row is a package, not a line item, which closed the gap to Xero. Validated against Order Circle: package rates match shipping charged on 8 of 9 matched orders to the cent. Wholesale averages 3.85 packages per order; every other channel is 1.00 — that alone understated wholesale freight by $1,366. DTC shipping income $500 vs $515 cost — customers cover 97% of DTC freight. Rate is confirmed negotiated cost. Packaging excluded. A July re-export in this format is needed for a trend.
As of Jul 29, 2026 · Cash & wholesale collections
Cash Position Across Accounts
$34,061
Three NM accounts, bank-reconciled · Jun 30
Checking $15,802 · Digit $14,211 · Savings $4,047
Wholesale AR Outstanding
$26,335
12 of 18 invoices raised since Jun 1
$3,698 past due · $22,637 on terms
Known Obligations · Next 30 Days
$7,623
Recurring fixed costs, 6-month run rate
Covered 4.5× by cash — payroll and tax funded
Collections are holding. Nothing aged past 30 days. $17,930 collected of $44,265 invoiced since June 1; the $26,335 balance is all due within 30 days. Fixed obligations are covered 4.5× — payroll and tax are funded.
To chase: $3,698 past due, and $15,722 still in Approved status — invoiced but not shipped. That is unshipped revenue, not just uncollected cash.
Invoices sent vs paid — cumulative
Cumulative invoiced
Cumulative paid
Gap = outstanding AR
Invoices by week raised. The lines diverged from Jun 28 — every invoice since is still open. Not a collections failure, just net-30/45 terms running, but it is why $26,335 is outstanding on $44,265 invoiced.
Wholesale AR aging
Aged on payment due date. Empty 31–60 and 60+ buckets are the headline — nothing has gone stale.
Who owes the money — AR by customer
The invoice list lives in Order Circle; what matters here is who the exposure sits with. Canyonlands is largest at $6,440 (24%). Eastern National is one counterparty, not two — New River Gorge $3,707 + Acadia $1,175. Top three carry $16,216, or 62% of the book.
Upcoming obligations — is the next month funded?
| Grouped obligation | What's in it | Run rate / mo | Basis |
|---|---|---|---|
| Occupancy | Rent — Harman Properties | 3,333.33 | Est 6-mo avg |
| People | Wages $2,591 + payroll tax $208 | 2,799.34 | Est 6-mo avg |
| Software & tools | Klaviyo $396 + subscriptions $369 + dues $107 | 872.25 | Est 6-mo avg |
| Professional & insurance | Accounting $333 + insurance $160 | 492.83 | Mixed |
| Sales tax | Balance payable at Jun 30 | 125.53 | Xero actual |
| Total recurring | vs $34,061 cash | 7,623.28 | 4.5× covered |
Five groups rather than nine account codes — the question is whether payroll is funded. Yes, comfortably. Est = 6-month trailing average, because the dashboard refreshes weekly and the ledger closes monthly. Two flags: rent posted $0 in June against a $3,333 average, likely missed rather than saved; and sales tax payable is only $126 against $157k of H1 revenue, which looks low for wholesale and Shopify nexus. Lumpy costs are excluded — contract labor ran $4,659 vs a $1,924 average. Advertising (~$4,500/mo, all in OpEx) is discretionary and not counted here.