Clockworks Analytics Financial Model
Climate/Energy Startup Financials (Free Excel Download)
B2B SaaS platform providing automated fault-detection and diagnostics (FDD) analytics for commercial and institutional building portfolios.
professionals from Deloitte
Used by professionals from
About this model
Clockworks Analytics connects to building automation and IoT systems to detect equipment faults and rank them by energy, comfort, and maintenance impact. Its platform gives operators a continuous performance history for commercial buildings, campuses, healthcare, and other complex portfolios.
The company sells recurring subscriptions directly to owners and through facilities, energy-services, and controls partners. It reported 50% growth in 2018–19, monitoring 260,000 pieces of equipment across 2,200 buildings and 370 million square feet; its largest accounts show $7 million of expansion ARR potential.
The model should be an ARR build split between direct and channel sales. Track new enterprise logos, subscription value per site or portfolio, churn, and net revenue retention from building and equipment expansion, then link gross margin, sales capacity, R&D, and cash burn to the account-level revenue bridge.
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 Clockworks Analytics
clockworksanalytics.com
How to build a detailed financial model for Clockworks Analytics
A complete walkthrough of the business, drivers, and assumptions behind the downloadable Clockworks Analytics model - distilled from its pitch deck and publicly available information.
Product & value proposition
Clockworks Analytics connects to building automation and IoT systems to continuously monitor equipment, detect faults, and prioritize issues by energy cost, comfort impact, and maintenance impact.
Core capabilities:
- Condition monitoring for equipment reliability
- Prioritized fault queue ranked by avoidable cost (energy, comfort, maintenance)
- Digital performance history for capital planning
- Comfort score metrics for vendor accountability
Target verticals: higher education, healthcare, corporate real estate, commercial real estate, government, pharmaceutical/biotech.
Market
- TAM: $11B Building Analytics market (industry analyst estimate)
Revenue model
- Primary: ARR-based SaaS subscriptions - contract structure implies per-building or per-square-footage pricing (implied by portfolio scale metrics: sq ft, buildings connected, equipment monitored).
- Channels:
- Direct enterprise sales to building owners/operators (higher education, healthcare, corporate real estate)
- Service partner / channel reseller model - facilities management firms, building control services, mechanical services, energy services companies, commissioning firms embed Clockworks in their standard or premier service offering
- Building automation manufacturer resellers (1 significant reseller noted as Dec 2019 milestone)
- Pricing basis: Not explicitly stated; inferred as recurring subscription per site / per sq ft / per equipment count.
- Expansion model: Net revenue expansion within accounts is a stated strategy - "ARR Expansion Potential" chart shows current vs. potential ARR across 26 named (anonymised) accounts.
Traction & metrics
- ARR under contract: Redacted
- YoY revenue growth (2018–2019): 50%
- Expansion ARR potential in 27 largest enterprise accounts alone: $7M
- Connected portfolio: 370 million sq ft, 2,200 buildings, 260,000 equipment monitored, 25 countries
- ARR expansion chart: 26 anonymised enterprise accounts shown with current ARR (blue) and potential ARR (green) - every account has significant headroom; no absolute dollar values legible on axes
- Client result (University of Iowa - inferred): 1,114 completed tasks, $1,640,683 annual projected savings
- Client result (Fortune 500 biotech, 5 campuses, 3 countries): $1.8M savings in first two years, $5M cumulative savings to date
- Client result (global IT company, 5 sites, 15 buildings): 9% energy savings
- DOE FDD Smart Energy Analytics Campaign: Clockworks customers won all awards in 2019
- Customer quote: $780,000 energy cost savings in first year; 24% of work orders generated by FDD
Unit economics
- Implied NDE: ARR expansion chart (slide 13) suggests meaningful net expansion potential per account; $7M expansion ARR in 27 accounts implies avg ~$260K incremental ARR per enterprise account.
Competition / moat
Implied moat signals:
- Data network effect: 370M sq ft, 260K equipment - large proprietary fault dataset
- DOE award sweep: all 2019 Smart Energy Analytics Campaign awards won by Clockworks customers
- Enterprise stickiness: deep integration into customer workflows (24% of work orders generated by FDD) and global deployments (pharmaceutical case study across 6 locations, 3 countries)
- Channel lock-in: embedding into FM service provider standard service packages creates switching costs at partner level
Team & funding ask / use of funds
- Use of funds:
- Drive channel growth (FM and energy services channel expansion)
- New market expansion (commercial real estate, government)
- Product investments to connect sites faster and expand channel value
Recommended financial model
- Archetype + why: SaaS ARR model with net revenue expansion (NRR) engine. Revenue is annual recurring subscriptions; growth comes from new logo acquisition plus expansion within existing accounts. The explicit ARR expansion chart and stated net expansion potential ($7M across 27 accounts) make NRR the key value driver. A channel/direct split is needed given two distinct go-to-market motions.
- Forecast horizon & granularity: 5-year annual model (FY2020–FY2024) with monthly granularity for Year 1–2 (Dec 2019 as base). Slide 19 references "2 years" and "5 years" as investment scenario waypoints - match those.
- Key drivers & assumptions:
| Driver | Value |
|---|---|
| Base ARR (Dec 2019) | Redacted - leave as input cell |
| YoY revenue growth (2018–2019) | 50% |
| New logo growth rate - investment scenario Y1–Y2 | ~80–100% YoY |
| New logo growth rate - BAU scenario | ~30–40% YoY |
| Net Revenue Retention (NRR) | 115–125% |
| Avg ARR per enterprise account (current) | Derived from total ARR ÷ ~26 named accounts |
| Expansion ARR potential - 27 largest accounts | $7M |
| Direct vs. channel revenue split | 60% / 40% initially, shifting to 50/50 with investment |
| Gross margin | 70–75% |
| S&M % of revenue | 35–45% |
| R&D % of revenue | 20–25% |
| G&A % of revenue | 10–15% |
| TAM | $11B |
- Scenarios (Base / Bull / Bear - which variables flex):
- Base: 50% YoY new ARR growth (extrapolation of 2018–2019), NRR 115%, channel builds gradually.
- Bull (Investment scenario): ~90–100% YoY new ARR growth in Y1–2 driven by aggressive FM/energy services channel + new segments (commercial RE, government). Matches deck's investment curve reaching $Y ARR in 2 years and $Z in 5. NRR 125%.
- Bear (BAU): ~30% YoY new logo growth, minimal channel expansion. Matches deck's BAU line. NRR 110%.
- Flex variables: new logo growth rate, channel mix %, NRR, S&M spend efficiency (CAC payback).
- Required sheets / outputs:
- Assumptions - all drivers, clearly tagged vs.
- ARR Build - cohort waterfall: new ARR, expansion ARR, churn; direct vs. channel split
- Income Statement - revenue, COGS, gross profit, S&M / R&D / G&A, EBITDA
- Cash Flow - simplified; focus on cash burn / runway and breakeven ARR
- Scenario Toggle - Base / Bull / Bear switcher tied to growth rate and NRR inputs
- KPI Dashboard - ARR, YoY growth, NRR, logo count, ARR per customer, gross margin, LTV/CAC (placeholder), burn, runway
Frequently asked
Is the Clockworks Analytics financial model free?+
Yes. The Clockworks Analytics 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 Clockworks Analytics'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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