Revenue came in well below February's $93.0k, which is the main reason the month looks so compressed.
March snapshot
The core numbers are still here, but the focus is on what matters most: production level, margin swing, quarter-to-date cash position, and the scale of collectible dollars already sitting in receivables.
Focus on March, grounded in YTD context
Direct labor and materials remained elevated, so margin moved deeply negative when sales volume slowed.
March drove the majority of the quarter's YTD loss of ($141.4k).
Cash is lower than the $55.5k opening balance, but there is still operating runway while collections are addressed.
Performance visuals
These charts keep the story short. February proved Harbour can generate a positive month. March was the outlier, and that contrast helps isolate the operating reset needed next.
Quarter trend
Revenue by month
Sales activity peaked in February, then fell back in March. The volume gap is visually larger than any other quarter signal.
YTD revenue$115.1k
Feb to Mar change-76.2%
March share of YTD19.2%
Net income swing
February's profit matters because it shows the model is not broken in every month. March simply reversed that operating leverage very quickly.
YTD net income($141.4k)
March share of YTD loss60.4%
Best month this quarterFebruary
Cost and cash structure
March's cost stack makes the margin problem easy to see. The cash bridge shows the business still has room to execute while collections and cost timing are tightened.
Margin and liquidity
March cost stack vs revenue
Direct costs outweighed revenue before overhead, which means margin repair starts on project economics and staffing/material timing first.
Revenue
$22.1k
Labor COGS
$54.8k
Materials
$28.7k
Operating exp.
$21.8k
Other exp.
$1.9k
| Line item | March | % of revenue |
|---|---|---|
| Labor COGS | $54.8k | 247.8% |
| Materials COGS | $28.7k | 129.7% |
| Total COGS | $83.9k | 379.2% |
| Operating expenses | $21.8k | 98.4% |
| Other expenses | $1.9k | 8.7% |
Quarter cash bridge
Cash is down, but it is not exhausted. The bridge shows why collections are so important: operating cash was only modestly negative, which means conversion improvements can matter quickly.
Beginning cash
$55.5k
Operating cash flow
($3.7k)
Financing cash flow
($7.8k)
Ending cash
$44.0k
| Quarter metric | Value |
|---|---|
| Cash change | ($11.6k) |
| Operating cash flow | ($3.7k) |
| Financing cash flow | ($7.8k) |
| Ending cash | $44.0k |
Working capital detail
Receivables are the clearest recovery lever. Most of the balance is aged into the 91+ bucket, and the exposure is concentrated in a handful of names, which makes the collection plan much more actionable.
A/R and A/P line items
A/R aging profile
Nearly all receivables are beyond 90 days, so collection effort can be focused on a short, high-value list instead of a broad base of newer invoices.
61-90 days$7.9k
91+ days$131.2k
Total A/R$139.2k
Largest balances
Receivables and payables detail
Full line-item visibility is below so the follow-up plan can stay tied to real names and amounts, not just aging buckets.
| Customer / vendor | Type | Bucket | Amount | Note |
|---|---|---|---|---|
| Terrence Ruffin | A/R | 91+ | $94,656.15 | Largest outstanding customer balance |
| John O'Malley | A/R | 91+ | $25,865.48 | Second largest aged receivable |
| Anita Gaskins | A/R | 91+ | $12,802.07 | High-priority collection target |
| Pinkney | A/R | 61-90 | $7,932.93 | Newest material aged balance |
| Little Foxes / Caroline Miller | A/R | 91+ | ($1,994.68) | Customer credit balance |
| Rhonica Whitaker | A/R | 91+ | ($83.21) | Minor credit balance |
| Abraham | A/P | 31-60 | $2,500.00 | Only reported aged payable |
| Summary | Amount |
|---|---|
| Total A/R | $139.2k |
| Total A/P | $2.5k |
| 91+ share of A/R | 94.3% |
| Collection concentration | Top 3 balances = 95.5% |
CFO commentary
The message is intentionally lighter this month: the results were difficult, but the response path is clearer than it first appears.
Constructive readout
February proved the business can generate a healthy month
That matters. A profitable February indicates the model is capable of producing contribution margin when volume and cost timing align, so March should be treated as a reset point rather than proof the whole year is unrecoverable.
Collections are still the fastest path to near-term improvement
With $139.2k in receivables and most of it concentrated in a few names, Harbour has a visible opportunity to improve liquidity faster through focused billing follow-up than through broad cost cuts alone.
March gives a clear operating checklist for April
The dashboard narrows the response to three priorities: tighten project margin discipline, turn aged receivables into collected cash, and maintain visibility around labor and materials while revenue rebuilds.
The downloaded balance sheet export dated April 15, 2026 shows zeroes across balance sheet lines. This page does not use that report for balance-sheet KPIs. Re-export from QuickBooks before relying on balance-sheet ratios or liquidity metrics derived from that file.