8base Financial Model
Dev Tools Startup Financials (Free Excel Download)
Low-code/no-code platform providing backend and frontend development tools for building digital products, internal apps, and SaaS.
professionals from Deloitte
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About this model
8base is a low-code platform for teams building SaaS products, internal tools, marketplaces, and customer portals. It combines a headless backend, managed database, serverless functions, security controls, and a visual, code-extensible frontend builder - giving developers flexibility without the burden of managing cloud infrastructure.
The company targets professional developers who need more flexibility than a closed no-code tool can provide. Its pitch deck highlights headless architecture, self-hosted deployment, and DevOps-free infrastructure, alongside plans to expand further into internal tools. 8base was raising a $10 million equity round to fund marketing, product development, executive hires, and a transition from direct services to solution partners.
The financial model separates recurring SaaS revenue from professional services, with services declining as partners take on more implementation work. A monthly ARR waterfall tracks new customers, expansion, and churn, then links to the P&L, headcount plan, and cash runway. Scenarios flex acquisition, retention, services mix, margins, and hiring to test the stated goal of growing recurring revenue tenfold over 18 to 24 months.
A turnkey financial model
Live formulas, no hardcoded values
Outputs are driven by live formulas, so the workbook updates from its assumptions instead of relying on hardcoded results.
All assumptions in one tab
Inputs are clearly marked in the Assumptions tab and separated from calculations, making it clear what to change and what to leave intact.
Statements always balancing
For integrated-statement models, the balance sheet, cash flow, and supporting schedules tie through properly.
Distinct schedules for clarity
Debt, working capital, taxes, and cash flow can get messy quickly. We group calculations in clear schedules, not across disconnected tabs.
No hidden macros or external links
There are no unexplained external workbook links or macros to undermine auditability or portability.
Changes flow through the model
Update a key driver and see the impact carry through the forecast, financing, and return outputs. We never use hardcoded numbers in formulas.
About 8base
8base.com
How to build a detailed financial model for 8base
A complete walkthrough of the business, drivers, and assumptions behind the downloadable 8base model - distilled from its pitch deck and publicly available information.
Product & value proposition
- Headless backend-as-a-service: visual data schema builder, managed relational database, serverless functions, role-based security, auth/SSO, email/SMS services, auto-generated GraphQL API.
- Frontend builder: drag-and-drop progressive web app builder, rich component library, fully code-extensible, connects to any backend.
- DevOps-free serverless architecture - no cloud infrastructure management required.
- SaaS-delivery or self-hosted deployment options.
- App Builder product (internal tools) flagged as a future expansion to move up-market.
- Target use cases: multi-tenant SaaS, micro-SaaS, marketplaces, portals, BPM applications, consumer apps, field-workforce apps.
Market
- TAM framing: Low-code is "quickly cannibalizing the $500B yearly Worldwide Custom Software Development Market".
- Projected Low-Code Development market size (Forrester, via slide 12):
- 2016: $2,800M | 2017: $3,800M | 2018: $4,350M | 2019: $6,525M | 2020: $10,114M | 2021F: $15,170M | 2022F: $21,239M.
- Developer universe growth (Morgan Stanley, via slide 4):
- Low-code developers: 1.8M (2019) → 6.2M (2024); 28% CAGR.
- No-code developers: 0.8M (2019) → 2.5M (2024); 25% CAGR.
- Combined CAGR called out as 27%.
- Gartner: "By 2024, 65% of app development will be done using low-code tools".
Revenue model
- SaaS subscription implied (recurring revenues referenced explicitly in slide 13: "10x recurring revenues in 18-24 months").
- Services revenue implied (deck mentions transitioning services to an ecosystem of solution partners as a use of funds, suggesting current direct services component).
- Channels: direct (current), partner/ecosystem (planned post-raise).
Traction & metrics
- Customer logos shown: FIU, IBM, NATO/OTAN, VIZSLA, photag, LEADVOLT, collab-grow, Resident, BIGFOOT CAPITAL, Tradeblock, Livo - ~11 named customers/logos.
- Recurring revenue base exists (implied by "10x recurring revenues" target) but current ARR level not stated.
- No revenue figures, MRR/ARR, user counts, churn, NRR, or growth rate disclosed in the deck.
Competition / moat
- Competitive positioning: 8base sits in the "Low-Code" tier for professional developers; Bubble cited as a "No-Code" example.
- Differentiators called out: headless architecture, fully programmable, managed relational DB, DevOps-free serverless, powerful GraphQL API, SaaS or self-hosted.
- Moat narrative: architectural flexibility + headless backend vs. more opinionated no-code alternatives; SOC II compliance in progress to enable enterprise/mid-market.
Team & funding ask / use of funds
- Founder & CEO: Albert Santalo (LinkedIn: albertsantalo).
- Funding ask: $10 million equity round.
- Use of funds (four pillars):
- Enable Marketing Engine
- Transition Services to Ecosystem of Solution Partners
- Expand Executive Team
- Double-Down on Product Development
- Target outcome: 10x recurring revenues in 18–24 months.
Recommended financial model
- Archetype + why: SaaS ARR model with a services/professional-services revenue line. Core revenue is subscription (recurring), with a transitional services component being handed off to partners. A blended SaaS P&L is appropriate: ARR waterfall (new, expansion, churn, net) + services revenue declining as % of mix + headcount/opex build-out.
- Forecast horizon & granularity: 3 years monthly (Month 1–24 critical given the "10x in 18–24 months" target stated in deck); Year 3 can step to quarterly. Monthly needed to track the marketing engine ramp and hiring plan against the funding burn.
- Key drivers & assumptions:
| Driver | Value |
|---|---|
| Starting ARR | Unknown - need actual figure |
| ARR growth target | 10x in 18–24 months |
| Implied ARR CAGR (18 months to 10x) | ~88% YoY |
| Revenue mix: SaaS vs. services (Year 1) | 70% / 30% |
| Services mix decline | Falls to ~10% by Year 3 as partner ecosystem absorbs it |
| Gross margin - SaaS | 70–75% |
| Gross margin - services | 30–40% |
| Blended gross margin | ~60–65% |
| New logo adds per month (post-raise) | 5–10/month initial, ramping as marketing engine activates |
| Average ACV | Unknown - not in deck |
| Net Revenue Retention | 110–120% |
| Gross churn (annual) | 10–15% |
| CAC payback period | 12–18 months |
| Headcount adds | Sales/marketing + exec team ramp post-raise |
| Burn rate / runway | ~$500K–$700K/month opex at scale; model to solve for runway |
| Market CAGR (low-code) | 28% (low-code dev users); $15B+ market by 2021F |
- Scenarios (Base / Bull / Bear - which variables flex):
- Base: 10x ARR in 24 months; services mix declines steadily; gross margin expands to 68% by Year 2.
- Bull: 10x in 18 months; strong NRR (120%+); partner ecosystem activates faster, reducing direct services cost.
- Bear: ARR growth stalls at 3–4x in 24 months (marketing engine slower to activate); higher churn from small/startup customer base; services margin squeezed.
- Flex variables: new logo adds per month, ACV, churn rate, services mix, headcount ramp timing.
- Required sheets / outputs:
- Assumptions dashboard (all drivers in one place, color-coded input cells)
- ARR waterfall (beginning ARR + new + expansion − churn = ending ARR, monthly)
- Revenue build (SaaS subscription + services, monthly)
- P&L (gross profit, S&M, R&D, G&A, EBITDA)
- Headcount plan (by function, linked to opex)
- Cash flow & runway (burn rate, funding tranches, months of runway)
- Scenario toggle (Base / Bull / Bear outputs side-by-side)
- KPI summary (ARR, MRR, customers, NRR, gross margin, LTV/CAC if assumptions populated)
Frequently asked
Is the 8base financial model free?+
Yes. The 8base model is a free Excel (.xlsx) download with live formulas. Sign up with your email and the workbook is yours to keep, review, and edit.
What's included in the model?+
A 5-year monthly forecast with P&L, cash flow and runway, valuation (exit multiple plus a DCF cross-check), MOIC/IRR returns, and unit economics, with live formulas throughout.
How was this model built?+
It was built from 8base's pitch deck and publicly available information, then structured to investment-banking standards as a fully editable Excel model.
Can I change the assumptions?+
Yes. You can change assumptions and the live formulas will recalculate in the downloadable Excel model.
Have more financial modelling questions? Contact us
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