Build an Investor Update Pack

This guide explains how to use Model Reef to build an investor update pack, using your existing model as the engine for numbers and charts, and then shaping the outputs into a clear narrative for external stakeholders.

Model Reef provides the financial backbone. The pack itself is usually assembled in a separate document or slide tool.

Before you start

You should have:

• A clean model that reflects your latest view of the business.

• Historical actuals integrated where possible.

• A sense of what investors care about, for example:

  • Growth in revenue and customers.

  • Gross margin and unit economics.

  • Cash runway and funding plans.

  • Progress versus previous guidance.

If you do not yet have a robust model, start with core modelling guides first.

What you will build

• A standardised set of charts and metrics for investor updates.

• A lightweight process for pulling numbers from Model Reef after each close.

• A pack structure that can be reused each quarter or reporting cycle.

Stepper: Build the pack

1

Headline summary

Start the pack with a succinct headline summary that captures the current state and most important change(s) since the previous update.

2

Key metrics

Select and present core metrics that investors care about (growth, margin, unit economics). Keep a consistent set of KPIs period-to-period for comparability.

3

Financial performance (P&L highlights)

Use Model Reef charts to show revenue, gross profit, EBITDA or operating cashflow and any other P&L highlights relevant to your business.

4

Cash and runway

Show current cash balance, burn and runway. Make funding needs and timing explicit if applicable.

5

Outlook and guidance

Provide forward-looking guidance, assumptions behind it, and any key milestones that substantiate the outlook.

6

Scenario or risk commentary

If relevant, include scenario analysis or risk commentary (Base / Upside / Downside) to show range of outcomes and sensitivities.

Select metrics and charts from your model

From your Model Reef model, identify the series you will use, for example:

• Revenue by quarter or year.

• Gross profit and gross margin.

• EBITDA or operating cashflow.

• Cash balance and funding needs.

• Key unit metrics such as customers, ARPU, basket size or utilisation.

Create charts on a dashboard that reflect these series with a clean visual style. These charts will be exported or replicated in your investor materials.

Establish a repeatable extraction process

For each reporting cycle, follow a repeatable set of actions to ensure consistency.

1

Refresh your model with latest actuals.

2

Update forward-looking assumptions if necessary.

3

Confirm that all key dashboards and charts look correct.

4

Export or screenshot the relevant charts and KPIs.

Keep the selection stable over time so investors can compare like with like between periods.

Integrate prior guidance and variance commentary

Investors want to understand not only where you are, but how that compares to what was communicated before.

Use previous models or saved views to compare:

• Actual performance versus prior expectations.

• Updated forecasts versus last guidance.

Summarise in the pack:

• Where you outperformed.

• Where you underperformed.

• What you are doing in response.

Model Reef can supply both the prior forecast numbers and the updated view if you have kept dated copies of your models.

Include valuation context if appropriate

If you share valuation ranges with investors:

• Use your model to compute updated NPV, IRR and Money Multiple.

• Make sure discount rates and terminal assumptions are up to date and clearly explained.

• Present valuation as a range if there is meaningful uncertainty, possibly using separate scenario models for Base, Upside and Downside.

Only include this section if it fits your relationship with investors and stage of company, as not all investors expect or want detailed valuation disclosure.

Finalise narrative and non-financial updates

The financials from Model Reef form the quantitative backbone. Around them, add:

• Product, sales and operations highlights.

• Key risks and mitigation steps.

• Strategic shifts or pivots.

• Any requests or upcoming funding needs where relevant.

Make sure the numbers and the story support each other without contradictions.

Check your work

• The pack answers the questions investors most often ask.

• Charts and metrics are consistent with your internal reporting.

• Trends over time are visible and easy to interpret.

• The update is short enough that investors will actually read it.

Troubleshooting

Investors fixate on one problematic metric

Address that metric head on in the narrative and show how your plan responds, rather than trying to hide it.

Numbers differ from other reports

Ensure that the same model and period settings are used across all reporting channels, or clearly explain any scope differences.

The pack grows longer each quarter

Periodically prune sections and move detail into appendices or separate deep dive materials.

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