SaaS Financial Model
MRR/ARR tracking, churn analysis, LTV/CAC calculations, runway projections, and fundraising scenario modeling.
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SaaS Financial Model
A comprehensive financial modeling workbook built specifically for SaaS (Software as a Service) businesses. Track MRR/ARR, model churn scenarios, calculate unit economics (LTV/CAC), project runway, and build fundraising scenarios — all in one interconnected spreadsheet.
What's Included
This workbook contains 8 interconnected tabs covering the full SaaS financial picture:
| Tab | File | Purpose |
|---|---|---|
| 01 - MRR Tracker | sheets/01-mrr-tracker.csv | Monthly recurring revenue with expansion/contraction |
| 02 - Cohort Analysis | sheets/02-cohort-analysis.csv | Revenue retention by signup cohort |
| 03 - Churn Analysis | sheets/03-churn-analysis.csv | Logo churn, revenue churn, and churn reasons |
| 04 - Unit Economics | sheets/04-unit-economics.csv | LTV, CAC, payback period by channel |
| 05 - Runway Model | sheets/05-runway-model.csv | Monthly burn, cash position, months remaining |
| 06 - Revenue Forecast | sheets/06-revenue-forecast.csv | 18-month ARR projection with scenarios |
| 07 - Fundraising Scenarios | sheets/07-fundraising-scenarios.csv | Dilution modeling and use-of-funds |
| 08 - KPI Summary | sheets/08-kpi-summary.csv | Investor-grade metrics dashboard |
Key Features
- MRR Waterfall — New, expansion, contraction, and churned MRR broken out monthly
- Cohort Retention — See exactly how each month's customers retain over time
- Net Revenue Retention — Track whether existing customers grow or shrink
- LTV/CAC by Channel — Know which acquisition channels are actually profitable
- Runway Calculator — Months of cash remaining at current and projected burn rates
- Fundraising Scenarios — Model different round sizes, valuations, and dilution
- Investor KPI Pack — All metrics VCs ask for, calculated automatically
Tab-by-Tab Walkthrough
01 - MRR Tracker
The foundation of your SaaS model. Tracks beginning MRR, new MRR (from new customers), expansion MRR (upgrades), contraction MRR (downgrades), churned MRR (cancellations), and ending MRR. Includes ARR calculation and MoM growth rates.
02 - Cohort Analysis
Groups customers by signup month and tracks what percentage of their initial MRR remains in subsequent months. This reveals your true retention curve — do customers stick around or quietly leave after month 3?
03 - Churn Analysis
Breaks churn into two views: logo churn (customer count) and revenue churn (dollar amount). Revenue churn matters more because losing one $5K customer hurts more than losing five $100 customers. Includes churn reason categorization for identifying fixable problems.
04 - Unit Economics
Calculates customer lifetime value (LTV) and customer acquisition cost (CAC) by marketing channel. Shows payback period, LTV:CAC ratio, and helps you decide where to invest your next marketing dollar.
05 - Runway Model
Projects cash forward month-by-month based on current revenue trajectory and expense growth. Shows when you'll run out of money (if ever) and how different scenarios affect your runway.
06 - Revenue Forecast
An 18-month revenue projection using three methods: linear growth (conservative), compound growth (moderate), and cohort-based (most accurate but requires cohort data). Includes best/base/worst scenarios.
07 - Fundraising Scenarios
Model a funding round: pre-money valuation, investment amount, post-money valuation, new shares issued, founder dilution. Compare multiple scenarios side by side (e.g., $2M at $8M pre vs $3M at $12M pre).
08 - KPI Summary
One-page view of every metric investors care about: ARR, growth rate, net revenue retention, gross margin, burn multiple, rule of 40, magic number, and more.
Quick Start (5 minutes)
1. Import all CSV files as separate tabs (see docs/IMPORT-GUIDE.md)
2. Start with tab 01 — enter your last 6-12 months of MRR data
3. Fill in tab 04 with your marketing spend by channel and resulting customers
... continues with setup instructions, usage examples, and more.
📄 Content Sample guides/fundraising-modeling-guide.md
Fundraising Modeling Guide
How to use the Fundraising Scenarios tab to model different round structures, understand dilution, and prepare for investor conversations.
Key Concepts
Pre-Money Valuation
What investors say your company is worth before their money goes in.
Post-Money Valuation
Post-Money = Pre-Money + Investment Amount
Dilution
New Investor Ownership = Investment ÷ Post-Money Valuation
Founder Dilution = Previous Ownership × (1 - New Investor %)
Example: You own 80%, investor puts in $2M at $8M pre ($10M post). They get 20%. Your ownership becomes 80% × (1 - 20%) = 64%.
Modeling a Round
Step 1: Determine your ARR multiple
Investors typically value SaaS companies as a multiple of ARR:
| Stage | Typical Multiple | Example |
|---|---|---|
| Pre-revenue | n/a (team + TAM) | $3-8M pre |
| <$1M ARR | 10-20x | $5-15M pre |
| $1-5M ARR | 10-15x | $10-50M pre |
| $5-20M ARR | 8-15x | $40-200M pre |
| $20M+ ARR | 10-30x | $200M+ pre |
Multiples vary wildly based on growth rate, retention, and market conditions.
Step 2: Size the round
Rule of thumb: Raise 18-24 months of runway at your projected burn rate.
Round Size = Monthly Burn × 18 to 24
*... and much more in the full download.*