Burn & Runway Intelligence

Meridian AI • October 2025 Snapshot

Net Burn / Mo
$184K
↓ 8.2% vs Sept
Runway Remaining
11.4 mo
⚠ Critical zone
Burn Multiple
2.8x
↓ from 3.4x (Aug)
Payroll % of Burn
68%
↓ from 81% (Mar)
Gross Margin
74%
↑ 3pp vs Q2
MoM Revenue Growth
9.2%
↑ from 6.1% (Apr)

Scenario Runway Projection

Cash depletion modeling across best/base/bear revenue cases

Burn Waterfall (Oct 2025)

From gross burn to net burn after revenue

Fundraise Signal Score

Composite index: Burn Multiple, NRR, Gross Margin, Growth Rate

72 / 100
Burn Multiple (2.8x) +18
NRR (112%) +22
Gross Margin (74%) +16
MoM Growth (9.2%) +16
Series A Ready

CAC by Acquisition Channel

Cost per customer acquisition, ranked by efficiency • October 2025

Channel Spend (Oct) New Customers CAC LTV:CAC Payback (mo) Status
Inbound SEO $8,200 12 $683 8.2x 4.1 Excellent
Referral Program $3,400 5 $680 7.9x 4.3 Excellent
Outbound Sales $22,100 8 $2,763 3.1x 11.2 Acceptable
Paid Search (Google) $14,600 6 $2,433 3.4x 10.8 Acceptable
LinkedIn Ads $9,800 3 $3,267 2.6x 13.5 Monitor
Content Partnerships $5,200 2 $2,600 3.2x 11.9 Monitor
Events (cut Jul) $0 $4,820 1.8x 18.3 Paused
Podcast Ads (cut Jul) $0 $6,100 1.4x 22.1 Paused
Blended CAC (All Active) $63,300 36 $1,758 4.8x 8.6 Good

Payroll Trend (6 Months)

Monthly payroll & % of gross burn

Gross Margin Trend

Revenue quality improving as ARR scales

Cash Conversion Cycle

Days from invoice to cash collection by month

NRR by Cohort (Oct)

Net Revenue Retention 112% blended

Q1 2024 Cohort 118%
Q2 2024 Cohort 114%
Q3 2024 Cohort 109%
Q4 2024 Cohort 108%
Q1 2025 Cohort 106%
Q2 2025 Cohort 111%

Burn Efficiency by Cost Center

Monthly spend vs. output quality score • Bubble size = team headcount

Next Fundraise Trigger
ARR $3.5M or 8mo runway
Estimated: Q1 2026
Breakeven ARR Target
$4.7M
At current 68% gross margin, 22 headcount
Cash Balance (Oct 31)
$2,100,000
Mercury operating account