What if we are pre-revenue?

Focus on assumptions and pricing tests. Show what you have learned from prospect conversations.

How many years of projections?

3 years is standard, but only Year 1 matters for scrutiny. Years 2-3 show you understand scale drivers.

Should I show burn rate and runway?

For early-stage raises, yes. Investors want to know how long this round lasts and what milestones you will hit.

Pitchkit

Financials Slide in a Pitch Deck

Show you understand the business model and have a credible path to scale.

Last updated: 2025-01-07

What This Slide Must Prove

This slide shows you understand how the business makes money and can model growth realistically.

Revenue model clarity: How do you make money?
Unit economics: Does each customer generate profit?
Growth trajectory: What does scale look like?
Key assumptions: What must be true for these numbers to work?

Nobody believes 5-year projections, but they reveal how you think. Defensible assumptions matter more than big numbers.

What Investors Look For

Criteria used in real pitch reviews:

Reasonable Assumptions

Are growth rates grounded in reality? Can you defend them?

Unit Economics Awareness

Do you know your CAC, LTV, and payback period?

Clear Revenue Model

Is it obvious how money flows? Subscription, transaction, usage?

Path to Profitability

Even if distant, do you understand what drives margin improvement?

Investors want to see financial literacy, not fantasy spreadsheets.

Strong vs Weak Signals

Strong Signal

"Current MRR: €45K. Average contract: €500/mo. CAC: €1,200. LTV: €6,000 at current 12-month retention. We are targeting 5:1 LTV:CAC as we optimize onboarding."

Real numbers, not projections
Shows unit economics understanding
Acknowledges room for improvement

Weak Signal

"Year 1: €500K. Year 2: €2M. Year 3: €8M. Year 5: €50M ARR. We are targeting the €10B market."

Hockey stick with no justification
No unit economics
Market size does not explain your revenue

Common Failure Patterns

Hockey stick syndrome: Explosive growth with no explanation.
Ignoring unit economics: Even pre-revenue, show you have thought about CAC, pricing, and retention.
Too much detail: A spreadsheet dump loses investors. Show 3-5 key metrics.
Mismatched funding and runway: If you are raising €2M, explain what it buys and how long it lasts.

Quality Criteria

Bottom-up over top-down: Build from customers, conversions, and capacity.
Show your work: Key assumptions should be visible and testable.
Match stage to metrics: Pre-seed shows pricing tests. Seed shows early unit economics. Series A needs proven CAC and LTV.

Target reaction: "They understand the business model and have realistic expectations."

How Pitchkit Helps

Pitchkit financials section helps you:

Structure projections around defensible assumptions
Present unit economics clearly
Match financial depth to your stage

You get feedback on whether your financials pass investor scrutiny.

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FAQs

Financials by Stage

What is expected changes as you raise more:

Angel Pitch Deck Pre-Seed Pitch Deck Seed Pitch Deck Series A Pitch Deck

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