Illustrative software / SaaS PE sample. Paid orders deliver a full 10–20 page professional multi-section PDF with multi-source collection. Not legal or financial advice.
Screening a real SaaS target? Same layout, live multi-source PDF — $49 after Stripe. Built for software PE first-pass before the data room.
Order $39.20 →| Cohort | Logo retention Y1 | NRR Y1 | Note |
|---|---|---|---|
| 2023 enterprise | 94% | 122% | Best expansion via warehouse modules |
| 2024 mid-market | 89% | 112% | More price sensitivity; SI-sourced weaker |
| 2025 YTD | n/a early | n/a early | Watch AE ramp quality vs. quota |
Paid packs push you toward a defensible bridge before VDR. Sample numbers only — not a real company QoE.
| Bridge component | ARR $m | % of start ARR | Diligence probe |
|---|---|---|---|
| Starting ARR | 36.6 | 100% | Contracted vs recognized |
| − Logo churn | (1.5) | (4.1%) | Why lost · competitor · product gap |
| − Downsell / contraction | (0.9) | (2.5%) | Seat reduction vs module drop |
| + Price uplift | 1.1 | 3.0% | List vs realized · MFC clauses |
| + Expansion / upsell | 5.8 | 15.8% | Which modules · who owns attach |
| + New logos (not in NRR) | 6.9 | n/a | Outbound vs SI vs inbound mix |
| Ending ARR | 48.0 | NRR ~118% | Reconcile to finance tape |
| Gate | Threshold | Sample signal | Call |
|---|---|---|---|
| NRR | ≥105% base | 118% illustrative | Pass |
| GRR | ≥90% | 96% illustrative | Pass |
| Top-10 concentration | <40% ARR | 34% | Watch |
| Gross margin | ≥70% SaaS | 79% | Pass |
| CAC payback | ≤18 mo | ~16 mo | Borderline |
| Security surface | No material incident | SOC2 claimed · no public breach in sample | Pass* |
| Module attach | Clear 2nd product path | 61% still core only | Risk |
*Security always re-checked with report + pen-test in VDR. Sample is a screening layout, not an audit.
Software PE associates rebuild this before trusting “magic number.” Sample only — not a real company QoE. Live paid packs flag channel mix + payback from public signals when available.
| Channel | % new ARR | CAC payback | Win rate | Diligence probe |
|---|---|---|---|---|
| Outbound AE | 38% | ~14 mo | 18% | Ramp / quota attainment · territory design |
| Partner / SI | 29% | ~11 mo | 24% | Partner concentration · attach of 2nd module |
| Inbound / product-led | 22% | ~9 mo | 31% | SQL quality · AE handoff leakage |
| Expansion (existing) | 11%* | n/a (NRR) | n/a | *Expansion sits in NRR bridge, not new-logo CAC |
Why this section: public grind rarely surfaces channel-level payback; paid packs push associates to ask for it before VDR burn. Order on your target →
Same multi-source PDF pipeline as paid packs. Software PE first pass: NRR/GRR, concentration, cohort quality, GTM efficiency, security/vendor flags — before counsel and VDR hours.
Get this on your target →Software PE associates build this before IC to pressure-test “why this one?” Paid packs include a comparable-set table from public signals when available. Sample only — not real benchmarks.
| Dimension | Northline (target) | Competitor A | Competitor B | Competitor C |
|---|---|---|---|---|
| ARR scale | $48M | $120M | $22M | $75M |
| Growth rate YoY | 31% | 22% | 45% | 28% |
| Gross margin | 79% | 84% | 71% | 76% |
| NRR | 118% | 109% | 126% | 114% |
| Rule of 40 | ~28 | ~36 | ~30 | ~24 |
| Vertical depth | High | Medium | High | Medium |
| Top-10 concentration | 34% | 22% | 41% | 28% |
| Key differentiation | Distributor data connectors | Scale + brand | Speed + UX | Platform breadth |
Why this matters: “Why this target?” is the first IC question. A peer matrix saves the associate an afternoon. Order on your target →
SaaS / software PE pre-filter. Severity tags mirror live paid packs (Red kill / Yellow / Watch). Figures illustrative — not a real company QoE.
| Severity | Risk | Why it matters | Probe |
|---|---|---|---|
| Red gate | NRR <100 sustained or top-5 >40% ARR | Thesis breaks on retention / concentration | Logo-level ARR bridge + renewal calendar |
| Red gate | Material open-source / IP assignment gap | Product path not cleanly ownable post-close | OSS inventory + early eng assignment audit |
| Yellow | Logo concentration (top-2 ~18% ARR) | Q4 renewal cluster amplifies single-logo risk | Contract terms + expansion plans for top-2 |
| Yellow | Security surface (2 P1s / 12m public) | SOC2 claimed; report not public — buyer diligence cost | SOC2 report + pen-test + incident log |
| Yellow | Module attach thin (61% core-only ARR) | Pricing power / multi-product story unproven | Attach by cohort + second-module ACV path |
| Watch | NRR quality (seats > product attach) | Land-and-expand path may stall without 2nd product | Expansion by module vs seat count |
| Watch | Vendor dependency (AWS + enricher) | Exit / dual-source plan not public | Critical vendor list + failover plan |
Same multi-source PDF pipeline as paid packs paid Tesla pack → PDF 3–24s after Stripe (median 15s · 4 real orders), multi-source. Same path for software targets.
Stripe checkout → multi-source PDF build → email delivery Stripe → D-CORE multi-source build → PDF email delivery.
Post-close value creation is where returns live. PE deal teams model these levers before IC — our packs surface the public signals behind each one. Illustrative sample figures below.
| Lever | Thesis | Public signal | Quantification potential |
|---|---|---|---|
| Cost: G&A rationalisation | Centralise finance/HR/legal post-close | Headcount ratio vs peers (eng : non-eng) | ~$3.2M annual savings (15% non-eng trim) |
| Cost: Tech consolidation | Retire redundant infra (dual-cloud, duplicate SaaS) | Job posts mentioning stack; AWS/GCP spend signals | ~$1.1M annual infra savings |
| Revenue: Cross-sell modules | Push attach rate from 39% → 55% in year 2 | Module-level pricing page; G2 feature requests | +$8.4M ARR by Y3 at current ACV |
| Revenue: Price optimisation | Tier pricing by vertical (distributor vs mfr vs wholesale) | Public pricing tiers; competitor pricing comparison | +6-9% ARPU lift without logo churn |
| Revenue: Geo expansion | EMEA entry via channel partners | Current geo mix from career pages / job posts | +$5-7M ARR Y2 (one major market entry) |
| Technology: Platform re-use | Port data connectors to portfolio add-on | API documentation; integration marketplace | 6-12 month build acceleration for add-on |
| Working capital | Tighten DSO from 52 → 38 days | Billing model (annual upfront vs monthly) | $2.8M one-time cash release |
Why this matters: IC memos live or die on the value-creation slide. Showing each lever with public signals + quantification potential signals operational seriousness. Order on your target →
First-pass revenue-quality bridge associates rebuild before QoE. Figures are illustrative for Northline Analytics — not a formal quality-of-earnings opinion.
| Line | Reported | Adjustment | Adjusted | Why / public signal |
|---|---|---|---|---|
| ARR | $28.4M | −$1.1M multi-year prepay pull-forward | $27.3M | Contract language in case studies / 10-K style notes |
| NRR | 118% | −6 pts logo churn cohort fix | ~112% | Cohort math when top logo expansion is stripped |
| Gross margin | 79% | −3 pts hosting reclass | ~76% | Cloud COGS vs opex presentation risk |
| CAC payback | 14 mo blended | +5 mo on paid search only | ~19 mo paid | Channel mix from job posts + ad library signals |
| Rule of 40 | 52 | −8 growth normalization | ~44 | Strip one-time partnership pipeline inflation |
Live pack: multi-source collection feeds unit-econ tables so you challenge management NRR before VDR burn. Order on your target →
Governance + GTM questions aligned to the live PDF management section. Use pre-LOI; escalate red answers into reps / special indemnities.
| # | Question | Why it matters | Red answer |
|---|---|---|---|
| 1 | What % of ARR is on annual prepay vs monthly, and how sticky is auto-renew? | Cash conversion + churn friction | Mostly monthly, easy cancel, weak notice terms |
| 2 | Show NRR with and without the top-5 logos for the last 8 quarters. | Concentration-driven expansion risk | NRR collapses below 100% without top logos |
| 3 | Who owns product roadmap vs enterprise custom work ratio? | Services drag vs product scalability | >30% eng on one-off customer branches |
| 4 | Detail security certifications, last pen-test date, and open critical findings. | Enterprise sales blocker / breach risk | No SOC2 path; open criticals >90 days |
| 5 | IP assignment for all engineers + contractors; any university or prior-employer claims? | Code ownership chain | Missing contractor assignments; open side projects in monorepo |
| 6 | Sales capacity model: AEs, SE ratio, ramp to quota, pipeline coverage. | Growth plan credibility | Coverage <2.5x with 40%+ ramping AEs |
| 7 | Key cloud vendor concentration and reserved-instance / committed-use exposure. | Gross margin sensitivity | Single region, no RI plan, margin cliff risk |
| 8 | Related-party vendors, founder secondary expectations, and board observer rights. | Governance / deal dynamics | Undisclosed related COGS; aggressive secondary in process |
Depth vs teaser: live multi-section PDFs include these question banks plus risk register so associates leave IC-ready. Order full PDF → · Software PE guide · Tech DD guide