Max
Budget Sortlist 26-27 · Max tab · Jul 26 → Jun 27LiveMRR · Aug budget
€2.9K
Actual: awaiting data
MRR · Jun 27
€65.1K
73% product-led at exit
Recognised revenue · 12m
€351K
Group budget · Max line
Cash collected · 12m
€503K
Annual plans prepaid
Operating cost · 12m
€725K
HR €336K + mkg €322K
EBITDA · 12m
-€374K
On recognised revenue
Revenue trend
Recognised MRR budget Jul 26 → Jun 27, Max tab · three engines · the AE joins in Dec 26, when the product-led + founder-led base crosses €20.0KMRR total · budgetProduct-ledFounder-ledSales-led · AE
Cash & cost
Cash collected and operating cost from the Max tab · marketing detail from the marketing planEngine cash-€222K cumulative Jun 27
Cumulative net cashCash collectedOperating cost
Marketing spend by bucket€322K · 12m
PAID MEDIA & CREATIVEDEMO GENERATIONPEOPLE-LED & FOUNDER BRAND
| Line item | Jul 26 | Aug 26 | Sep 26 | Oct 26 | Nov 26 | Dec 26 | Jan 27 | Feb 27 | Mar 27 | Apr 27 | May 27 | Jun 27 | 12m |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Meta media (scen. A + reallocations) | – | €2.5K | €4.2K | €15.0K | €15.0K | €15.0K | €15.5K | €15.5K | €15.5K | €15.5K | €15.5K | €15.5K | €145K |
| Creative agency (cross-channel) | €5.0K | €5.0K | €5.0K | €5.0K | €5.0K | €5.0K | €5.0K | €5.0K | €5.0K | €5.0K | €5.0K | €5.0K | €60.0K |
| Outbound · cold-call agency | €6.0K | €6.0K | €3.0K | – | – | – | – | – | – | – | – | – | €15.0K |
| Outbound · MAX sells MAX (LinkedIn) | €2.1K | €2.1K | €2.1K | €2.1K | €2.1K | €2.1K | €2.1K | €2.1K | €2.1K | €2.1K | €2.1K | €2.1K | €25.2K |
| Radar (competitive data) | €500 | €500 | €500 | €500 | €500 | €500 | €500 | €500 | €500 | €500 | €500 | €500 | €6.0K |
| ColdIQ retainer (LinkedIn + email) | – | – | €3.0K | €3.0K | €3.0K | €3.0K | €3.0K | €3.0K | €3.0K | €3.0K | €3.0K | €3.0K | €30.0K |
| Founder brand (LinkedIn) | €3.4K | €3.4K | €3.4K | €3.4K | €3.4K | €3.4K | €3.4K | €3.4K | €3.4K | €3.4K | €3.4K | €3.4K | €40.8K |
| Total marketing spend | €17.0K | €19.5K | €21.2K | €29.0K | €29.0K | €29.0K | €29.5K | €29.5K | €29.5K | €29.5K | €29.5K | €29.5K | €322K |
Monthly detail · budget vs actual
A dash = awaiting data, never zero · actuals fill in as connectors land| Month | MRR budget | MRR actual | Δ | Spend b / a | Cash collected |
|---|---|---|---|---|---|
| Jul 26 | €765 | – | – | €17.0K / – | €4.5K |
| Aug 26 ● | €2.9K | – | – | €19.5K / – | €11.6K |
| Sep 26 | €5.6K | – | – | €21.2K / – | €14.5K |
| Oct 26 | €10.9K | – | – | €29.0K / – | €24.5K |
| Nov 26 | €17.2K | – | – | €29.0K / – | €33.2K |
| Dec 26 | €23.8K | – | – | €29.0K / – | €39.8K |
| Jan 27 | €30.9K | – | – | €29.5K / – | €48.1K |
| Feb 27 | €38.0K | – | – | €29.5K / – | €54.6K |
| Mar 27 | €45.2K | – | – | €29.5K / – | €60.6K |
| Apr 27 | €52.1K | – | – | €29.5K / – | €65.9K |
| May 27 | €58.7K | – | – | €29.5K / – | €70.8K |
| Jun 27 | €65.1K | – | – | €29.5K / – | €75.4K |
Data sources
| Source | Kind | Status | Feeds |
|---|---|---|---|
| Budget Sortlist 26-27 · Max tabs | manual | Live | Recognised MRR across the three engines, cash collected, cost block and the whole marketing plan. Re-import with npm run extract:budget. |
| Billing actuals | api | To connect | MRR, customers and cash collected, once the paywall is live (Aug 1). |
| HubSpot demos | api | To connect | Demos held and accounts closed. |
| Product analytics | api | To connect | Trials started, activation. |
| Manual actuals file | manual | Live | src/data/actuals/max.json, the interim input until connectors land. |
Funnel
Meta media and organic feed the trials · the demo engine feeds the accounts, closed by the founders until Dec 26 and then by the AE tooTrials / month190 at exit
Paid (Meta)Organic
New customers / month59 at exit
Product-ledFounder-ledSales-led · AE
Demos generated / month40 held at exit
FoundersAEPeople-ledCold-call agency
Customer base329 customers · 105 accounts Jun 27
Active · product-ledActive accounts · founder-ledActive accounts · AE
AE hiring gateAE joins in Dec 26
Unit economics
CAC against the sustainable ceiling (LTV / 3) · Max Marketing Plan tab, block 5LTV product-led
€1,439
50% GM / 5% churn
Sustainable CAC
€480
LTV / 3:1 target
Blended CAC · at exit
€496
Total spend / all new customers
Payback · at exit
4.5 mo
Media CAC / monthly gross profit · ARPU €144, ARPA €170
CAC per paid customer · fully loaded vs media onlyUnder the sustainable ceiling from Dec 26
Fully loadedMedia onlyPer new account
Acquisition detail · budget plan
Trials, demos and new customers per month — the operational drivers behind the MRR| Month | Trials b / a | Demos b / a | New cust. b / a |
|---|---|---|---|
| Jul 26 | 0 / – | 15 / – | 5 / – |
| Aug 26 ● | 25 / – | 30 / – | 14 / – |
| Sep 26 | 42 / – | 28 / – | 18 / – |
| Oct 26 | 144 / – | 23 / – | 37 / – |
| Nov 26 | 152 / – | 27 / – | 46 / – |
| Dec 26 | 162 / – | 31 / – | 49 / – |
| Jan 27 | 177 / – | 37 / – | 54 / – |
| Feb 27 | 178 / – | 40 / – | 57 / – |
| Mar 27 | 190 / – | 40 / – | 59 / – |
| Apr 27 | 190 / – | 40 / – | 59 / – |
| May 27 | 190 / – | 40 / – | 59 / – |
| Jun 27 | 190 / – | 40 / – | 59 / – |
Steering signals
Five signals, each settles a decision at a fixed date| Signal | Target | Current | Verdict | Status |
|---|---|---|---|---|
1. LTV / CAC Spend stops above the sustainable CAC, no discussion. Measured LTV resets the whole acquisition envelope. | Ratio ≥ 3:1 · sustainable CAC €480 | Budget: LTV €1,439 at 50% margin and 5% churn · blended CAC €496 at exit | Weekly read. First cohorts re-price LTV from October. | Awaiting data |
2. Trial → paid conversion Below the budget rate: the problem is the product. Paid goes on pause while it gets fixed. | ≥ 25%, the rate the budget is built on | Awaiting first cohorts · budget assumes 190 trials/month at exit | Mid-October, 45 days after self-serve launch. | Awaiting data |
3. ACV of the first accounts Above the budgeted ARPA, the account engine deserves its AE earlier. Settle Agency tier pricing before scaling demos. | Public pricing vs the budgeted ARPA | Awaiting first signed contracts | September, on signed contracts. | Awaiting data |
4. Demos held Below the floor: the demo-generation budget gets cut before Q1. The AE joins in Dec 26 on the MRR gate, not on demo volume. | ~40 / month at cruising speed · floor 24 | Awaiting HubSpot wiring | End of September, once attribution is live. | Awaiting data |
5. Engine net cash Two consecutive months below plan mean a yield slipped unseen or the prepay share is eroding. | Cash collected covering the operating cost | Budget: -€222K over 12 months · cash collected €503,450 vs operating cost €725,006 | Monthly, from the first close. | Awaiting data |
Assumptions
As they stand in the workbook · Max tab for the engines, Max Marketing Plan tab for the funnelProduct-led · self-serve
| Recognised ARPU / month | €144 |
| Monthly churn | 5% |
| SaaS gross margin | 50% |
| LTV product-led | €1,439 |
| Trial → paid conversion | 25% |
| Sign-up → trial start | 30% |
| Trials converting same month | 75% |
Accounts · founder-led and AE
| Recognised ARPA / month | €170 |
| Monthly churn | 2.5% |
| Founders' own demos / month | 10 |
| AE's own demos at full speed | 20 |
| Demo → account close rate | 30% |
| Founders' selling handed to the AE | 70% |
AE gate & acquisition costs
| AE hiring gate · MRR | €20,000 |
| AE joins in | Dec 26 |
| Sustainable CAC per paid customer | €480 |
| Target LTV / CAC | 3:1 |
| Cost per demo · people-led | €200 |
| Cost per demo · cold-call agency | €150 |
| People-led spend to product-led | 50% |