How do I calculate Convertible note?

Use the formula(s) on this page. Keep inputs consistent by period and basis.

What are good benchmarks?

Benchmarks vary by model and stage. See Benchmarks on this page for ranges.

Inconsistent definitions/time windows; wrong basis (revenue vs gross profit).

Unlike SAFEs, notes accrue interest and have maturity; often similar conversion terms.

Unlike SAFEs, notes accrue interest and have maturity; often similar conversion terms.