US
Ryley
Customer Experience and US Operations Coordinator, our first US hire.
Shareholder Memo #10 · October 2026
Round closed. Record month. US build-out.
Hey legends,
It's been a huge few months since our August memo. We closed the round, moved into the US properly, grew the team on both sides of the Pacific, launched our biggest product yet with Sarah's Day, hit our first flat month in a long time, and then came back with a record October.
Here's the full update.
A$2.92M October sales34,923 active subscribersAbout A$2.4M raised
November 2026 · Memo #10
Memo #10 snapshot · live
The numbers, as you read this.
The tiles with a green dot update live from our Shopify and Skio feeds. Everything else in this memo is as at 4 November 2026.
A$40.5M
Annual run rate, all channels
34,923
Active subscriptions, AU + US
A$2.6M
Subscription MRR, AU
205,000+
Orders shipped, all time
A$2.92M
October sales, Shopify all stores
A$2.4M
New capital, seed round closed
Run rate annualises the last 30 days across every channel. Active subscriptions combine Australia and the US. MRR is Australian subscription MRR including GST.
Blackcurrant Crush with Creatine x Sarah's Day
A$187.6K in the first 24 hours.
On 14 October we launched Blackcurrant Crush with Creatine, our third Perform flavour, with a campaign led by Sarah and Kurt. The launch video was genuinely funny and did exactly what we hoped: it got people talking and buying.
A$187.6K
Sales, first 24 hours
2,282
Orders
2,498
Units of Blackcurrant Crush
1,739
New subscriptions
Launch day replay, the first 24 hours
Cumulative sales New subscriptions
Hour0h
SalesA$0.0K
New subs0
It's shaping up as our new top seller in both flavour and product. Huge thanks to Sarah, Kurt and the team, and to everyone who shared the launch.
Capital raise
Our seed round completed on 8 October 2026.
A$2.4M
About this much new capital
A$1.25M
Led by Side Stage Ventures
8 Oct
Round completed
We raised about A$2.4M of new capital, led by Side Stage Ventures (A$1.25M), alongside existing shareholders and new investors. All executed transaction documents and updated share certificates have been sent out, and the ASIC and member register updates are being finalised.
A huge thank you to everyone who backed us in this round, and to everyone who signed, re-signed and chased paperwork with us over a long few months. It's a big milestone, and it gives us the capital to fund inventory, build the US and keep scaling Australia.
The US
Hyro US HQ is now officially our garage in Newport Beach.
Very on brand for a start-up, and we're loving it. Here's where the US build is at:
- Our first US team member. Ryley joined in October as Customer Experience and US Operations Coordinator. She's helping with customer service across both markets and setting up our US operations.
- Second US production run. It's complete and lands in the warehouse this week, so we'll have stock on hand for a proper launch.
- TikTok Shop and creators. We've signed Common Thread Collective (CTC), who recently acquired TBar, to run our TikTok Shop end to end. They'll also run a creator affiliate program through Trybe, targeting at least 100 approved creator videos a month from 20+ creators to feed our Meta ads.
- New agency partners. We're onboarding new creative and performance partners to help us launch and scale paid acquisition in the US.
- Team work week. Next week the core team flies over for an intensive work week focused only on the US: launch plan, offer, creative, channels and operations. The goal is simple: get the US business launched and growing as fast as possible.
2nd
US production run, landing this week
100+
Approved creator videos a month, targeted
20+
Creators in the affiliate program
We're being deliberate. The US is still small today, and we're gating spend on unit economics before we scale. But the foundations are now in place, and the next few months are about traction.
Press and PR
A big stretch for the brand outside our own channels.
01Confidential until 10 Nov
AFR Fast Starters 2026
Hyro has been named on the Australian Financial Review's 2026 Fast Starters list, which recognises Australia's fastest-growing young companies. The list and rankings are announced at the AFR event in Sydney on 10 November, where Mike will represent Hyro.
02Announced shortly
The Australian's Top 100 Innovators
Hyro will feature in The Australian's 2026 Top 100 Innovators list, which should be announced shortly.
03Live on morning TV
Max Gawn and Daly Cherry-Evans on the Today Show
Two of Australia's biggest sporting names, both Hyro investors and ambassadors, went live on the Today Show and gave Hyro a huge national plug on morning TV.
A$40K to A$50KWhat a segment like that would normally cost to buy
A massive thank you to Max and Daly for making the effort to be there in person, and to our PR partners and fellow investors, Nick Fordham and The Fordham Company, for securing such an epic feature.
Brand moment: the New York Marathon in budgie smugglers
42km of very questionable decisions.
On the weekend I ran the New York City Marathon in a pair of Hyro budgie smugglers, alongside another runner doing the same.
~2M
Free impressions from spectators on the course
42km
In budgie smugglers
It was 42km of very questionable decisions, but the response was huge. We estimate about 2 million free impressions from spectators on the course, and endless comments, photos and shout-outs along the way. That's the cheapest brand awareness we've ever bought.
Thank you
To the moon.
Thanks as always for your support. This has been one of the hardest and most rewarding stretches in Hyro's short history. We've proven the demand is real, built a stronger foundation underneath it, and we're now set up to take Hyro global.
Stay hydrated,
Steve
Confidential. Prepared for Hyro shareholders. Figures are as at 4 November 2026 unless marked live.