investor-reporting

Investor Reporting

Pre-Processing (Auto-Context)

Before starting, gather project context silently:

• Read PORTFOLIO.md if it exists in the project root or parent directories for product/team context
• Run: cat package.json 2>/dev/null || cat build.gradle.kts 2>/dev/null || cat Podfile 2>/dev/null to detect stack
• Run: git log --oneline -5 2>/dev/null for recent changes
• Run: ls src/ app/ lib/ functions/ 2>/dev/null to understand project structure
• Use this context to tailor all output to the actual project

Investor communications for a multi-product venture studio. Monthly updates, board decks, portfolio financials, cap table modeling, runway scenarios, and data room preparation. Optimized for Cure Consulting Group's portfolio: Vendly, Autograph, The Initiated, Antigravity, and TwntyHoops.

Investors remember two things: how honest you were when things were hard, and whether you delivered on what you said you would. This skill ensures both.

Step 1: Classify the Reporting Need

Need	Output	Audience
Monthly investor update	1-page email with metrics, wins, losses, asks	Angels, pre-seed/seed investors
Quarterly board deck	12-15 slide deck with portfolio health + decisions	Board members, lead investors
Portfolio financial report	Consolidated P&L, burn, runway, unit economics	CFO, board, institutional investors
Fundraising data room	Organized document checklist for due diligence	Prospective investors, VCs
Cap table modeling	Pre/post money, dilution, waterfall, SAFE conversion	Founders, legal, prospective investors
Runway & scenario modeling	Burn analysis, revenue scenarios, decision framework	Internal leadership, board
Ad-hoc investor request	Custom data pull or narrative for a specific investor	Individual investor or fund

Step 2: Gather Context

Before generating any investor artifact, collect:

1. Scope — single product or full portfolio report?
2. Reporting period — which month/quarter? Exact date range.
3. Audience — angels (want narrative + vision), institutional VCs (want metrics + comps), board (want decisions + risks)?
4. Stage per product:
   • Vendly: what stage? (pre-revenue, pilot, scaling)
   • Autograph: what stage? (pre-revenue, pilot, scaling)
   • The Initiated: what stage? (pre-revenue, pilot, scaling)
   • Antigravity: what stage? (pre-revenue, pilot, scaling)
   • TwntyHoops: what stage? (pre-revenue, pilot, scaling)
5. Key metrics available — MRR, users, GMV, burn, cash position, runway?
6. Wins this period — product launches, partnerships, hires, milestones hit?
7. Losses this period — missed targets, churn, departures, blockers?
8. Cash position — current bank balance, last funding event, next raise timeline?
9. Specific asks — what do you need from investors right now?

Step 3: Monthly Investor Update

The single most important investor communication. Send it on the same day every month, no exceptions. Even — especially — when things are bad.

Format Rules

Delivery:     Plain-text email (not a PDF, not a deck, not a Notion link)
Length:       Under 1 page, 5-minute read maximum
Frequency:    Monthly, same day each month (1st or 15th)
Tone:         Direct, honest, no spin. Bad news first if there is bad news.
Subject line: [Company] Monthly Update — [Month Year]

Template Structure

SUBJECT: Cure Consulting Group — [Month Year] Update

TL;DR (3 bullets max)
  - [Biggest win this month — be specific with numbers]
  - [Biggest challenge or miss — be honest]
  - [One-line cash/runway status]

HIGHLIGHTS
  List 3-5 wins. Each must be specific and measurable:
    Good:  "Vendly processed $47K GMV in March, up 32% MoM"
    Bad:   "Vendly is growing nicely"
    Good:  "Signed LOI with Baptist Health for Autograph pilot — 12 providers"
    Bad:   "Autograph had a good month for partnerships"

LOWLIGHTS
  List 2-3 challenges. Never bury bad news. Never spin.
    Good:  "Missed Vendly merchant acquisition target (got 8, target was 15).
            Root cause: onboarding flow too complex. Fix shipping next week."
    Bad:   "Merchant growth was slower than expected but we're optimistic"

  Rules:
    - Every lowlight must include: what happened, why, what you're doing about it
    - If you missed a target from last month's update, call it out explicitly
    - Investors respect honesty. They do not respect surprises at board meetings.

KEY METRICS
┌────────────────────┬──────────┬──────────┬──────────┬─────────┐
│ Metric             │ Vendly   │ Autograph│ Initiated│ Studio  │
├────────────────────┼──────────┼──────────┼──────────┼─────────┤
│ MRR / Revenue      │ $X,XXX   │ $X,XXX   │ $X,XXX   │ $XX,XXX │
│ MoM Growth         │ X%       │ X%       │ X%       │ X%      │
│ Users / Customers  │ XXX      │ XXX      │ XXX      │ —       │
│ Key Product Metric │ GMV: $XX │ Scribes: X│ Coaches: X│ —      │
│ Monthly Burn       │ $X,XXX   │ $X,XXX   │ $X,XXX   │ $XX,XXX │
├────────────────────┼──────────┴──────────┴──────────┼─────────┤
│ Cash Position      │                                │ $XXX,XXX│
│ Runway (months)    │                                │ XX      │
└────────────────────┴────────────────────────────────┴─────────┘

  Always include runway. Investors check this number first.
  If runway < 6 months, flag it explicitly and state your plan.

PRODUCT UPDATES (per product, 2-3 sentences each)
  Vendly:       [What shipped, what's next]
  Autograph:    [What shipped, what's next]
  The Initiated:[What shipped, what's next]
  Antigravity:  [What shipped, what's next]
  TwntyHoops:   [What shipped, what's next]

ASKS (always include at least one)
  Be specific. Investors want to help but need direction.
    Good:  "Looking for intros to LATAM fintech operators, specifically anyone
            who has scaled merchant onboarding in Mexico or Colombia"
    Bad:   "Let us know if you can help with anything"
    Good:  "Hiring a senior ML engineer for Autograph. Ideal: experience with
            medical NLP. If you know anyone, reply and I'll send the JD."
    Bad:   "We're hiring"

  Categories of asks:
    - Introductions (to customers, partners, hires, other investors)
    - Advice (specific strategic questions, not vague "what do you think")
    - Follow-on or bridge (only when appropriate, with clear terms)

Monthly Update Anti-Patterns

NEVER DO THESE:
  - Skip a month because "nothing happened" (something always happened)
  - Send it late without acknowledging the delay
  - Use vanity metrics (total signups instead of active users)
  - Hide bad news in the middle of a long paragraph
  - Send a 3-page update (nobody reads past page 1)
  - Use jargon your angels won't understand
  - Forget the ask (you're leaving value on the table)
  - Report metrics differently than last month (consistency builds trust)
  - Round numbers up to make them look better
  - Promise things you can't deliver by next month's update

Step 4: Quarterly Board Deck

12-15 slides maximum. Every slide has one message. If a slide needs a paragraph of explanation, it is a bad slide.

Deck Structure

QUARTERLY BOARD DECK — Q[X] [YEAR]
Cure Consulting Group
[Date]

Slide 1: TITLE + AGENDA
  Cure Consulting Group — Q[X] [YEAR] Board Review
  Agenda: Portfolio Overview | Financials | Product Deep Dives | Decisions

Slide 2: EXECUTIVE SUMMARY
  3-5 bullet points covering the quarter. Same TL;DR energy as the
  monthly update, but for the full quarter.
  Traffic light status per product: Green / Yellow / Red

Slide 3: PORTFOLIO HEALTH SCORECARD
┌─────────────┬────────┬──────────┬──────────┬───────────┬───────┐
│ Product     │ Stage  │ Revenue  │ Growth   │ Health    │ Trend │
├─────────────┼────────┼──────────┼──────────┼───────────┼───────┤
│ Vendly      │ [X]    │ $XX,XXX  │ XX% QoQ  │ Green     │ Up    │
│ Autograph   │ [X]    │ $XX,XXX  │ XX% QoQ  │ Yellow    │ Flat  │
│ Initiated   │ [X]    │ $XX,XXX  │ XX% QoQ  │ Green     │ Up    │
│ Antigravity │ [X]    │ $XX,XXX  │ XX% QoQ  │ Yellow    │ Up    │
│ TwntyHoops  │ [X]    │ $XX,XXX  │ XX% QoQ  │ Green     │ Up    │
└─────────────┴────────┴──────────┴──────────┴───────────┴───────┘

  Health criteria:
    Green:  On track or ahead of plan
    Yellow: Behind plan but recoverable, or facing known risks
    Red:    Significantly behind, requires board-level discussion

Slide 4: CONSOLIDATED FINANCIALS
  - Total revenue (MRR breakdown by product)
  - Total burn (allocated by product + shared costs)
  - Cash position and runway
  - Quarter-over-quarter comparison
  - Use bar charts, not tables. One data story per chart.

Slide 5: REVENUE BREAKDOWN
  Stacked bar chart: revenue by product over last 4 quarters
  Show trajectory, not just this quarter's snapshot
  Include revenue mix % (which products are driving growth)

Slide 6: BURN & RUNWAY
  - Monthly burn trend line (last 6 months)
  - Burn by category: engineering, marketing, infrastructure, G&A
  - Runway at current burn rate
  - Runway if revenue hits target
  - Runway if revenue misses by 25%

Slides 7-10: PRODUCT DEEP DIVES (one per active product, 1 slide each)
  For each product:
    - Key metrics (3-4 max, with QoQ change)
    - Top milestone achieved this quarter
    - Top risk or blocker
    - Next quarter's #1 priority
    - 1 chart showing the metric that matters most

  Per-product focus:
    Vendly:       GMV, merchant count, take rate, merchant retention
    Autograph:    Provider count, scribes completed, time saved per provider, pilot conversions
    The Initiated: Coach accounts, athlete profiles, matching rate, platform engagement
    Antigravity:  Downloads/signups, DAU, agents deployed, community activity
    TwntyHoops:   Events held, attendance, social reach, sponsorship revenue

Slide 11: STRATEGIC DECISIONS
  Frame 1-3 decisions the board needs to weigh in on.
  Format per decision:
    Context:       [Why this decision matters now]
    Options:       [Option A] vs [Option B] (vs [Option C])
    Recommendation:[What management recommends and why]
    Ask:           [Vote / Feedback / Approval needed]

  Example decisions:
    - Should we raise a bridge round or extend runway by cutting Product X?
    - Should we pursue enterprise vs SMB for Autograph?
    - Should we spin out Antigravity as a separate entity?

Slide 12: NEXT QUARTER PRIORITIES
  Top 3 priorities for the studio. Tied to metrics.
    Priority 1: [Goal] — measured by [metric] — target: [number]
    Priority 2: [Goal] — measured by [metric] — target: [number]
    Priority 3: [Goal] — measured by [metric] — target: [number]

Slide 13: APPENDIX — DETAILED FINANCIALS
  Full P&L table, balance sheet summary, detailed burn breakdown.
  This is the "for the record" slide. Board members who want detail will ask.

Slide 14: APPENDIX — PRODUCT ROADMAPS
  High-level roadmap per product (next 2 quarters only, no 5-year fantasies)

Slide 15: APPENDIX — CAP TABLE SUMMARY (if relevant)
  Current ownership, option pool remaining, next round implications

Slide Design Rules

ONE message per slide. If you can't summarize the slide in 8 words, split it.
Data visualization over tables. Bar charts > line charts > tables.
No walls of text. Max 6 bullet points per slide, max 10 words per bullet.
Consistent color coding. Green/Yellow/Red for health. Same color per product everywhere.
White space is your friend. Crowded slides signal unclear thinking.
Every number needs context. "$50K MRR" means nothing. "$50K MRR (up 30% QoQ)" tells a story.

Step 5: Portfolio Financial Report

Consolidated financials across the full venture studio. This is the CFO's document.

CURE CONSULTING GROUP — PORTFOLIO FINANCIAL REPORT
Period: [Month/Quarter] [Year]
Prepared: [Date]

1. CONSOLIDATED P&L
┌──────────────────────┬──────────┬──────────┬──────────┬──────────┬──────────┬──────────┐
│                      │ Vendly   │ Autograph│ Initiated│ Antigrav │ TwntyH   │ TOTAL    │
├──────────────────────┼──────────┼──────────┼──────────┼──────────┼──────────┼──────────┤
│ Revenue              │ $X,XXX   │ $X,XXX   │ $X,XXX   │ $X,XXX   │ $X,XXX   │ $XX,XXX  │
│ COGS                 │ ($X,XXX) │ ($X,XXX) │ ($X,XXX) │ ($X,XXX) │ ($X,XXX) │ ($XX,XXX)│
│ Gross Profit         │ $X,XXX   │ $X,XXX   │ $X,XXX   │ $X,XXX   │ $X,XXX   │ $XX,XXX  │
│ Gross Margin         │ XX%      │ XX%      │ XX%      │ XX%      │ XX%      │ XX%      │
├──────────────────────┼──────────┼──────────┼──────────┼──────────┼──────────┼──────────┤
│ Engineering          │ ($X,XXX) │ ($X,XXX) │ ($X,XXX) │ ($X,XXX) │ ($X,XXX) │ ($XX,XXX)│
│ Marketing            │ ($X,XXX) │ ($X,XXX) │ ($X,XXX) │ ($X,XXX) │ ($X,XXX) │ ($XX,XXX)│
│ Infrastructure       │ ($X,XXX) │ ($X,XXX) │ ($X,XXX) │ ($X,XXX) │ ($X,XXX) │ ($XX,XXX)│
│ G&A (allocated)      │ ($X,XXX) │ ($X,XXX) │ ($X,XXX) │ ($X,XXX) │ ($X,XXX) │ ($XX,XXX)│
├──────────────────────┼──────────┼──────────┼──────────┼──────────┼──────────┼──────────┤
│ Net Income (Loss)    │ ($X,XXX) │ ($X,XXX) │ ($X,XXX) │ ($X,XXX) │ ($X,XXX) │ ($XX,XXX)│
└──────────────────────┴──────────┴──────────┴──────────┴──────────┴──────────┴──────────┘

2. SHARED COST ALLOCATION
  Studio-level costs must be allocated. Use this framework:
    Engineering shared services (DevOps, infra, code review): by engineering hours
    G&A (legal, accounting, office): equal split or by revenue share
    Marketing shared (brand, website): by attribution or equal split
    Leadership time: by hours logged per product

  Rule: Never let shared costs hide a product's true burn.
        Every dollar must be attributed to a product or to "Studio Overhead."

3. REVENUE DETAIL
  Per-product MRR/ARR breakdown:
    Vendly:       GMV $XXX,XXX × take rate X.X% = revenue $X,XXX
    Autograph:    XX providers × $XXX/mo = MRR $X,XXX
    The Initiated: XX subscriptions × $XX/mo + sponsorships = $X,XXX
    Antigravity:  XX users × $XX/mo (freemium conversion X%) = $X,XXX
    TwntyHoops:   Events $X,XXX + Sponsorships $X,XXX + Media $X,XXX = $X,XXX

4. CASH POSITION & RUNWAY
  Opening cash balance:     $XXX,XXX
  + Revenue received:       $XX,XXX
  - Total expenses paid:    ($XX,XXX)
  - One-time costs:         ($X,XXX)
  = Closing cash balance:   $XXX,XXX

  Monthly burn rate:        $XX,XXX
  Runway at current burn:   XX months
  Runway if revenue grows 10% MoM: XX months

5. UNIT ECONOMICS PER PRODUCT
┌─────────────┬─────────┬─────────┬─────────┬─────────┬──────────┐
│ Metric      │ Vendly  │ Autograph│ Initiated│ Antigrav│ TwntyH  │
├─────────────┼─────────┼─────────┼─────────┼─────────┼──────────┤
│ CAC         │ $XXX    │ $X,XXX  │ $XX     │ $XX     │ N/A      │
│ LTV         │ $X,XXX  │ $XX,XXX │ $XXX    │ $XXX    │ N/A      │
│ LTV:CAC     │ X.Xx    │ X.Xx    │ X.Xx    │ X.Xx    │ N/A      │
│ Payback (mo)│ XX      │ XX      │ XX      │ XX      │ N/A      │
│ Gross Margin│ XX%     │ XX%     │ XX%     │ XX%     │ XX%      │
│ Churn (mo)  │ X.X%    │ X.X%   │ X.X%    │ X.X%    │ N/A      │
└─────────────┴─────────┴─────────┴─────────┴─────────┴──────────┘

  TwntyHoops uses event-based economics, not SaaS metrics:
    Revenue per event, cost per event, margin per event, sponsorship yield

6. INFRASTRUCTURE COSTS BY PRODUCT
┌─────────────────┬─────────┬─────────┬─────────┬─────────┬──────────┐
│ Service         │ Vendly  │ Autograph│ Initiated│ Antigrav│ TwntyH  │
├─────────────────┼─────────┼─────────┼─────────┼─────────┼──────────┤
│ Firebase/GCP    │ $XXX    │ $XXX    │ $XXX    │ $XXX    │ $XXX     │
│ AI APIs         │ $XX     │ $X,XXX  │ $XX     │ $XXX    │ $XX      │
│ Stripe fees     │ $XXX    │ $XXX    │ $XX     │ $XX     │ $XX      │
│ Vercel/hosting  │ $XX     │ $XX     │ $XX     │ $XX     │ $XX      │
│ Other services  │ $XX     │ $XX     │ $XX     │ $XX     │ $XX      │
├─────────────────┼─────────┼─────────┼─────────┼─────────┼──────────┤
│ TOTAL           │ $XXX    │ $X,XXX  │ $XXX    │ $XXX    │ $XXX     │
└─────────────────┴─────────┴─────────┴─────────┴─────────┴──────────┘

  Flag any product where AI API costs > 20% of revenue.
  Flag any product where infra costs are growing faster than revenue.

7. SCENARIO MODELING
  What if we pause Product X?
    - Savings: $X,XXX/month (team reallocation, infra reduction)
    - Lost revenue: $X,XXX/month
    - Net impact on runway: +X months
    - Strategic cost: [what do we lose beyond revenue?]

  What if Product Y hits target?
    - Revenue increase: $X,XXX/month by Month X
    - Impact on runway: +X months
    - Required investment to hit target: $X,XXX
    - ROI: X:1 over 12 months

Step 6: Cap Table Modeling

Model ownership, dilution, and exit scenarios. Get this wrong and founders, employees, and investors all lose.

1. CURRENT CAP TABLE
┌────────────────────┬──────────┬────────┬─────────────┐
│ Shareholder        │ Shares   │ %      │ Type        │
├────────────────────┼──────────┼────────┼─────────────┤
│ Founder 1          │ X,XXX,XXX│ XX.X%  │ Common      │
│ Founder 2          │ X,XXX,XXX│ XX.X%  │ Common      │
│ Angel Investor A   │ XXX,XXX  │ X.X%   │ Preferred   │
│ Angel Investor B   │ XXX,XXX  │ X.X%   │ SAFE (conv) │
│ Employee Pool      │ XXX,XXX  │ XX.X%  │ Options     │
│   - Allocated      │ XXX,XXX  │ X.X%   │ Options     │
│   - Unallocated    │ XXX,XXX  │ X.X%   │ Options     │
├────────────────────┼──────────┼────────┼─────────────┤
│ TOTAL              │ X,XXX,XXX│ 100.0% │             │
└────────────────────┴──────────┴────────┴─────────────┘

2. PRE/POST MONEY VALUATION SCENARIOS
┌──────────────────────┬───────────┬───────────┬───────────┐
│                      │ Low       │ Base      │ High      │
├──────────────────────┼───────────┼───────────┼───────────┤
│ Pre-money valuation  │ $X.XM     │ $X.XM     │ $X.XM     │
│ Round size           │ $XXX K    │ $XXX K    │ $X.XM     │
│ Post-money valuation │ $X.XM     │ $X.XM     │ $XX.XM    │
│ New investor %       │ XX.X%     │ XX.X%     │ XX.X%     │
│ Founder dilution     │ XX.X%     │ XX.X%     │ XX.X%     │
│ Price per share      │ $X.XX     │ $X.XX     │ $X.XX     │
└──────────────────────┴───────────┴───────────┴───────────┘

3. OPTION POOL SIZING
  Standard: 10-20% of fully diluted shares
  Pre-seed/Seed: 10-15% (smaller team, fewer hires planned)
  Series A: 15-20% (investors will require refresh)

  Rule: Create or expand the pool BEFORE the round, not after.
        The dilution comes from existing shareholders, not new investors.
        Investors know this. You should too.

  Current pool: X,XXX,XXX shares (XX.X% of fully diluted)
  Allocated:    X,XXX,XXX shares
  Remaining:    X,XXX,XXX shares
  Recommended:  [Expand to XX% if raising, current is sufficient if not]

4. SAFE/CONVERTIBLE NOTE CONVERSION
  For each outstanding SAFE or note:
┌────────────────────┬───────────┬────────────┬───────────┬───────────┐
│ Instrument         │ Amount    │ Val Cap    │ Discount  │ Converts  │
├────────────────────┼───────────┼────────────┼───────────┼───────────┤
│ SAFE — Investor A  │ $XXX,XXX  │ $X.XM      │ —         │ At next   │
│ SAFE — Investor B  │ $XXX,XXX  │ $X.XM      │ 20%       │ priced rnd│
│ Conv Note — Inv C  │ $XXX,XXX  │ $X.XM      │ 20%       │ + interest│
└────────────────────┴───────────┴────────────┴───────────┴───────────┘

  Conversion math:
    SAFE with cap:      shares = investment / (cap / fully diluted shares)
    SAFE with discount: shares = investment / (price × (1 - discount))
    Use whichever gives the investor MORE shares (investor-favorable)

    Convertible note:   same as SAFE, but add accrued interest to principal
    Interest:           principal × rate × (days elapsed / 365)

5. DILUTION WATERFALL — PROPOSED ROUND
┌────────────────────┬───────────┬──────────┬───────────┬──────────┐
│ Shareholder        │ Pre-Round │ Pre %    │ Post-Round│ Post %   │
├────────────────────┼───────────┼──────────┼───────────┼──────────┤
│ Founder 1          │ X,XXX,XXX │ XX.X%    │ X,XXX,XXX │ XX.X%   │
│ Founder 2          │ X,XXX,XXX │ XX.X%    │ X,XXX,XXX │ XX.X%   │
│ Existing Investors │ XXX,XXX   │ X.X%     │ XXX,XXX   │ X.X%    │
│ SAFE Conversions   │ —         │ —        │ XXX,XXX   │ X.X%    │
│ New Option Pool    │ —         │ —        │ XXX,XXX   │ XX.X%   │
│ New Investors      │ —         │ —        │ X,XXX,XXX │ XX.X%   │
├────────────────────┼───────────┼──────────┼───────────┼──────────┤
│ TOTAL              │ X,XXX,XXX │ 100.0%   │ X,XXX,XXX │ 100.0%  │
└────────────────────┴───────────┴──────────┴───────────┴──────────┘

6. EXIT WATERFALL (WHO GETS WHAT)
  Model at 3 exit values: $5M, $20M, $50M (or use actual scenarios)

  Liquidation preferences matter:
    1x non-participating preferred: investor gets back their money OR converts (whichever is more)
    1x participating preferred: investor gets back their money AND their pro-rata share
    No preference (common): everyone splits pro-rata

┌────────────────────┬──────────┬──────────┬──────────┐
│ Shareholder        │ $5M Exit │ $20M Exit│ $50M Exit│
├────────────────────┼──────────┼──────────┼──────────┤
│ Founder 1          │ $X.XM    │ $X.XM    │ $XX.XM   │
│ Founder 2          │ $X.XM    │ $X.XM    │ $XX.XM   │
│ Investors (pref)   │ $X.XM    │ $X.XM    │ $X.XM    │
│ Employees (options)│ $XXX,XXX │ $X.XM    │ $X.XM    │
├────────────────────┼──────────┼──────────┼──────────┤
│ TOTAL              │ $5.0M    │ $20.0M   │ $50.0M   │
└────────────────────┴──────────┴──────────┴──────────┘

  Studio-specific consideration:
    If Cure holds equity in each product entity separately, model the waterfall
    per entity. If Cure is a single entity with product lines, model once.
    This distinction matters enormously at exit. Decide the structure early.

Step 7: Runway & Scenario Modeling

The most important financial exercise for an early-stage studio. Know exactly when you run out of money under every scenario.

1. CURRENT BURN ANALYSIS
  Fixed costs (don't change with revenue):
    Salaries & contractors:   $XX,XXX/month
    Office / coworking:       $X,XXX/month
    Tools & subscriptions:    $X,XXX/month
    Legal & accounting:       $X,XXX/month
    Insurance:                $XXX/month
    Total fixed:              $XX,XXX/month

  Variable costs (scale with usage/customers):
    Infrastructure (Firebase, GCP):  $X,XXX/month
    AI API costs (OpenAI, etc.):     $X,XXX/month
    Payment processing (Stripe):     $XXX/month
    Marketing spend:                 $X,XXX/month
    Total variable:                  $X,XXX/month

  Total monthly burn:         $XX,XXX
  Monthly revenue:            $XX,XXX
  Net burn:                   $XX,XXX
  Cash position:              $XXX,XXX
  Runway at current net burn: XX months

2. REVENUE TRAJECTORY SCENARIOS (12-month projection)
┌───────┬───────────────┬───────────────┬───────────────┐
│ Month │ Conservative  │ Base          │ Optimistic    │
├───────┼───────────────┼───────────────┼───────────────┤
│ 1     │ $XX,XXX       │ $XX,XXX       │ $XX,XXX       │
│ 3     │ $XX,XXX       │ $XX,XXX       │ $XX,XXX       │
│ 6     │ $XX,XXX       │ $XX,XXX       │ $XX,XXX       │
│ 9     │ $XX,XXX       │ $XX,XXX       │ $XX,XXX       │
│ 12    │ $XX,XXX       │ $XX,XXX       │ $XX,XXX       │
├───────┼───────────────┼───────────────┼───────────────┤
│ Runway│ XX months     │ XX months     │ XX months     │
└───────┴───────────────┴───────────────┴───────────────┘

  Conservative: current growth continues, no new products launch
  Base: planned launches hit, moderate growth
  Optimistic: all targets hit, viral growth or enterprise deal closes

3. SENSITIVITY TABLE — WHAT MOVES THE NEEDLE
┌─────────────────────────────┬───────────────┬───────────────┐
│ Change                      │ Monthly Impact │ Runway Impact │
├─────────────────────────────┼───────────────┼───────────────┤
│ Cut 1 engineer              │ -$X,XXX burn  │ +X months     │
│ Pause TwntyHoops            │ -$X,XXX burn  │ +X months     │
│ Vendly hits 50 merchants    │ +$X,XXX rev   │ +X months     │
│ Autograph closes enterprise │ +$XX,XXX rev  │ +X months     │
│ Raise $250K bridge          │ +$250K cash   │ +X months     │
│ Cut marketing 50%           │ -$X,XXX burn  │ +X months     │
│ Move to cheaper infra       │ -$X,XXX burn  │ +X months     │
└─────────────────────────────┴───────────────┴───────────────┘

4. BREAK-EVEN ANALYSIS PER PRODUCT
  For each product, answer: what does it take to cover its own costs?

  Vendly:       XXX merchants at $XX avg monthly revenue = break-even
  Autograph:    XX providers at $XXX/month = break-even
  The Initiated: X,XXX subscribers at $XX/month = break-even
  Antigravity:  X,XXX users at $XX/month = break-even
  TwntyHoops:   XX events/year at $X,XXX avg net per event = break-even

5. DECISION FRAMEWORK
  When to RAISE:
    - Runway < 6 months and metrics trending up
    - Clear use of funds (hire X, launch Y, scale Z)
    - Favorable market conditions for your stage
    - Never raise out of desperation. Investors smell it.

  When to CUT:
    - Runway < 4 months with no raise in progress
    - A product's metrics have been flat for 3+ months despite investment
    - Cost to acquire next customer is rising, not falling
    - Cut fast. Cut once. Then focus.

  When to DOUBLE DOWN:
    - Product shows clear PMF signals (organic growth, low churn, NPS > 50)
    - Unit economics are improving month over month
    - Marginal cost of growth is decreasing
    - Capital deployed here has higher ROI than other products in portfolio

Step 8: Fundraising Data Room Checklist

Investors will request these documents during due diligence. Have them ready before you start fundraising, not after the first meeting.

DATA ROOM STRUCTURE
Organize in a shared drive (Google Drive or DocSend). Number folders for order.

01 — CORPORATE
  [ ] Certificate of Incorporation / Articles of Organization
  [ ] Bylaws / Operating Agreement
  [ ] Board meeting minutes (all)
  [ ] Board consent resolutions
  [ ] Stockholder/member agreements
  [ ] Cap table (current, fully diluted, with all SAFEs/notes)
  [ ] 409A valuation (if applicable)
  [ ] State registrations / qualifications

02 — FINANCIALS
  [ ] Profit & loss statement (trailing 12 months, monthly)
  [ ] Balance sheet (current)
  [ ] Cash flow statement (trailing 12 months)
  [ ] Bank statements (last 6 months)
  [ ] Financial projections (12-24 months, with assumptions documented)
  [ ] Revenue breakdown by product
  [ ] Burn breakdown by product
  [ ] Accounts receivable / payable aging

03 — FUNDRAISING
  [ ] Pitch deck (current version)
  [ ] Executive summary / one-pager
  [ ] Previous term sheets (if any)
  [ ] Outstanding SAFEs / convertible notes (copies)
  [ ] Use of funds plan (this round)
  [ ] Prior investors list with amounts and terms

04 — PRODUCT
  [ ] Product demos (recorded or live links)
  [ ] Architecture overview (1-2 pages, not a novel)
  [ ] Product roadmap (next 6-12 months)
  [ ] User/customer testimonials or case studies
  [ ] Screenshots / UI walkthroughs
  [ ] App Store / Play Store links (if live)

05 — METRICS
  [ ] Cohort retention analysis (by month, by product)
  [ ] Growth charts (users, revenue, GMV — trailing 12 months)
  [ ] Unit economics summary (CAC, LTV, LTV:CAC per product)
  [ ] Funnel metrics (signup to activation to payment)
  [ ] NPS or satisfaction scores (if collected)
  [ ] Churn analysis with reasons

06 — TEAM
  [ ] Org chart
  [ ] Founder bios / LinkedIn profiles
  [ ] Key hire profiles
  [ ] Hiring plan (next 12 months)
  [ ] Employee stock option grants (summary, not individual)
  [ ] Advisory board (if any)

07 — LEGAL
  [ ] IP assignment agreements (all founders and contractors)
  [ ] Employee/contractor agreements (template)
  [ ] Material contracts (customers, vendors, partners)
  [ ] Pending or threatened litigation (disclose or confirm none)
  [ ] Insurance policies (D&O, E&O, general liability)

08 — COMPLIANCE (product-specific)
  [ ] HIPAA BAA and compliance documentation (Autograph)
  [ ] Privacy policies (all products)
  [ ] Terms of Service (all products)
  [ ] Data processing agreements (if handling EU data)
  [ ] SOC 2 status or roadmap (if applicable)
  [ ] COPPA compliance (if applicable, The Initiated — if minors)

09 — TECHNICAL
  [ ] Security review summary (see /security-review skill)
  [ ] Infrastructure overview (cloud providers, architecture diagram)
  [ ] Uptime / reliability metrics (if tracked)
  [ ] Open source license compliance
  [ ] Data backup and disaster recovery plan

READINESS RULES:
  - All documents must be current (within 30 days)
  - Label every document with date and version
  - Redact sensitive PII where possible
  - Use view-only links with tracking (DocSend preferred over raw Google Drive)
  - Have a "data room ready" date on your fundraising timeline
  - Budget 2-3 weeks to assemble from scratch, 2-3 days to refresh

Step 9: KPI Dashboard Definitions

Define exactly what to measure per product. No vanity metrics. Every KPI must be actionable — if it moves, you know what to do.

VENDLY — LATAM MERCHANT OS (Marketplace Model)
┌──────────────────────┬──────────────────────────────────────────────┬───────────┐
│ KPI                  │ Formula                                      │ Target    │
├──────────────────────┼──────────────────────────────────────────────┼───────────┤
│ GMV                  │ Total transaction volume processed            │ $XXX K/mo │
│ Take Rate            │ Revenue / GMV                                 │ 2-5%      │
│ Active Merchants     │ Merchants with 1+ transaction in last 30 days│ XXX       │
│ Merchant Retention   │ Merchants active this month / active last mo  │ > 85%     │
│ Avg Revenue/Merchant │ Revenue / active merchants                    │ $XX/mo    │
│ TPV Growth (MoM)     │ (This month GMV - last month GMV) / last mo  │ > 15%     │
│ Merchant CAC         │ Sales + marketing spend / new merchants       │ < $XXX    │
│ Merchant LTV         │ Avg revenue/merchant / monthly churn rate     │ > $X,XXX  │
│ Onboarding Time      │ Median days from signup to first transaction  │ < 7 days  │
│ Support Tickets/Merch│ Monthly support tickets / active merchants    │ < 1.0     │
└──────────────────────┴──────────────────────────────────────────────┴───────────┘

AUTOGRAPH — AI MEDICAL SCRIBE (SaaS / Healthcare)
┌──────────────────────┬──────────────────────────────────────────────┬───────────┐
│ KPI                  │ Formula                                      │ Target    │
├──────────────────────┼──────────────────────────────────────────────┼───────────┤
│ MRR                  │ Active providers × price per provider         │ $XX K/mo  │
│ Active Providers     │ Providers who completed 1+ scribe this month │ XXX       │
│ Scribes Completed    │ Total AI scribes generated this month         │ X,XXX/mo  │
│ Time Saved/Provider  │ Avg minutes saved per provider per day        │ > 60 min  │
│ Accuracy Rate        │ Scribes accepted without major edits / total  │ > 95%     │
│ Pilot Conversion     │ Pilots converted to paid / total pilots ended │ > 60%     │
│ Provider NPS         │ Net Promoter Score from provider surveys      │ > 50      │
│ Churn (monthly)      │ Providers lost / providers at start of month  │ < 3%      │
│ NRR                  │ (Start MRR + expansion - churn) / Start MRR  │ > 110%    │
│ HIPAA Incidents      │ Security/privacy incidents in period          │ 0         │
│ AI Cost/Scribe       │ LLM API cost per scribe generated             │ < $0.50   │
└──────────────────────┴──────────────────────────────────────────────┴───────────┘

THE INITIATED — WOMEN'S BASKETBALL RECRUITING PLATFORM
┌──────────────────────┬──────────────────────────────────────────────┬───────────┐
│ KPI                  │ Formula                                      │ Target    │
├──────────────────────┼──────────────────────────────────────────────┼───────────┤
│ Coach Accounts       │ Verified college coach accounts on platform   │ XXX       │
│ Athlete Profiles     │ Complete athlete profiles (video + stats)     │ X,XXX     │
│ DAU / MAU            │ Daily active / monthly active users           │ > 25%     │
│ Matching Rate        │ Athletes contacted by coaches / total athletes│ > XX%     │
│ Coach Engagement     │ Avg profiles viewed per coach per session     │ > 10      │
│ Platform Stickiness  │ DAU / MAU ratio                               │ > 20%     │
│ Athlete Completion   │ Profiles with video + stats + GPA / total     │ > 70%     │
│ Subscription Revenue │ Paid subscriptions × price                    │ $X,XXX/mo │
│ Recruiting Outcomes  │ Offers/commits attributed to platform          │ XX/season │
│ Coach Retention (Q)  │ Coaches active this quarter / last quarter    │ > 80%     │
└──────────────────────┴──────────────────────────────────────────────┴───────────┘

ANTIGRAVITY — AI AGENT ORCHESTRATION IDE (Dev Tools)
┌──────────────────────┬──────────────────────────────────────────────┬───────────┐
│ KPI                  │ Formula                                      │ Target    │
├──────────────────────┼──────────────────────────────────────────────┼───────────┤
│ Total Signups        │ Cumulative accounts created                   │ X,XXX     │
│ DAU                  │ Users who opened IDE in last 24 hours         │ XXX       │
│ Weekly Active        │ Users active 3+ days in last 7                │ XXX       │
│ Agents Deployed      │ Total agent workflows deployed to production  │ X,XXX     │
│ Retention (D7)       │ Users active on day 7 / users signed up 7d ago│ > 40%    │
│ Retention (D30)      │ Users active on day 30 / signed up 30d ago   │ > 20%     │
│ Freemium Conversion  │ Paid users / total active users              │ > 5%      │
│ MRR                  │ Paid users × avg price                        │ $X,XXX/mo │
│ Community PRs        │ Open source contributions per month           │ XX/mo     │
│ NPS                  │ Net Promoter Score from user surveys          │ > 40      │
│ Avg Session Duration │ Median minutes per IDE session                │ > 20 min  │
└──────────────────────┴──────────────────────────────────────────────┴───────────┘

TWNTYHOOPS — BASKETBALL MEDIA & EVENTS
┌──────────────────────┬──────────────────────────────────────────────┬───────────┐
│ KPI                  │ Formula                                      │ Target    │
├──────────────────────┼──────────────────────────────────────────────┼───────────┤
│ Events Held          │ Total events this period                      │ XX/quarter│
│ Avg Attendance       │ Total attendees / events held                 │ XXX/event │
│ Revenue per Event    │ (Tickets + sponsorships + merch) / events     │ $X,XXX    │
│ Cost per Event       │ Total event costs / events held               │ $X,XXX    │
│ Margin per Event     │ (Revenue - cost) / revenue per event          │ > 40%     │
│ Social Reach         │ Total followers across platforms              │ XX,XXX    │
│ Engagement Rate      │ (Likes + comments + shares) / impressions    │ > 3%      │
│ Sponsorship Revenue  │ Total sponsorship deals closed this period    │ $XX,XXX/Q │
│ Sponsor Retention    │ Returning sponsors / total sponsors last period│ > 70%    │
│ Content Pieces       │ Videos, articles, posts published             │ XX/week   │
│ Email List Size      │ Total newsletter subscribers                  │ X,XXX     │
│ Email Open Rate      │ Opens / emails sent                           │ > 30%     │
└──────────────────────┴──────────────────────────────────────────────┴───────────┘

DASHBOARD RULES:
  - Update every KPI weekly, report monthly (at minimum)
  - Every KPI needs a target. A number without a target is just a number.
  - Show trailing 3-month trend, not just current value
  - Red/yellow/green status based on % of target achieved
  - If a KPI has been red for 3 months, escalate to board or kill the initiative
  - Never add a KPI without removing one. Dashboard bloat kills focus.
  - Source of truth: one spreadsheet or dashboard tool, not scattered across Notion/Sheets/Slack

Artifact Generation (Required)

Generate using Write:

1. Monthly update: docs/investor-updates/{YYYY-MM}.md — populated template
2. Board deck outline: docs/board-deck-outline.md — slide-by-slide structure
3. KPI dashboard config: monitoring/investor-kpi.json — dashboard template
4. Metric collection queries: analytics/investor-metrics.sql — queries for each KPI

Cross-References

Related skills for investor reporting workflows:

• /saas-financial-model — Deep unit economics and pricing analysis
• /engineering-cost-model — Build costs and infrastructure forecasting
• /sdlc — Product roadmap artifacts for board decks
• /analytics-implementation — Event tracking to feed KPI dashboards
• /security-review — Security posture for data room
• /legal-doc-scaffold — Legal docs for data room compliance section