FRFrontegg Financial Model
Dev Tools Startup Financials (Free Excel Download)
Full-stack user management platform (auth, authorization, multi-tenancy, billing, audit logs) for product-led SaaS companies.
professionals from Deloitte
Used by professionals from
About this model
Frontegg is an embedded user-management platform for SaaS builders, covering authentication, authorization, multi-tenancy, billing, audit logs, and an admin portal through a developer package. It helps product teams ship enterprise-grade account management without building every control themselves.
The product is priced per tenant across Basic, Growth, and Enterprise tiers, with self-serve signup feeding product-led adoption and enterprise features adding support, service levels, and hybrid deployment. The company reported rapid self-serve adoption and a small early paying-customer base.
The model is tenant-based SaaS ARR. New signups, activated customers, tenant count, tier mix, ARPU, expansion, and churn build recurring revenue. Product-led conversion, enterprise upgrades, identity-infrastructure cost, support, and net revenue retention determine the scale path.
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 Frontegg
How to build a detailed financial model for Frontegg
A complete walkthrough of the business, drivers, and assumptions behind the downloadable Frontegg model - distilled from its pitch deck and publicly available information.
Product & value proposition
Frontegg is a plug-and-drop "user management layer" that SaaS builders embed into their products via a single npm package (`@frontegg/admin-portal`).
Core pillars:
- Authentication: Passwordless, WebAuthn, SSO (SAML/OIDC), MFA
- Authorization: RBAC, ABAC, fine-grained permissions
- Advanced multi-tenancy: complex org structures, team management, invitations
- Admin portal: embeddable white-label portal for end-users (profile, security, SSO config, audit logs, webhooks, API tokens)
- Subscription & billing: tier-based enforcement, billing interface, self-service checkout
- API token management: machine-to-machine hub
Frontend framework support + backend-agnostic SDK; multiple deployment methods including hybrid/Docker.
Value prop framing: "Logging in is not enough" - modern SaaS users expect self-service; building all this in-house is enormous engineering overhead.
Revenue model
- Pricing model: Tenant-based (per-tenant SaaS), "grow as the business grows"
- Tiers: Three named tiers - Basic / Growth / Enterprise
- Basic: Advanced authentication, MFA, pre-defined roles, automatic audit logs
- Growth: all Basic + SSO, API token management, custom roles, all platform included
- Enterprise: all Growth + high SLA, 24/7 support, dedicated solution architect, hybrid deployment (Docker)
- Go-to-market: Product-led / self-serve (signup → self-service checkout); enterprise sales implied by dedicated SA tier.
- Channel: Direct / product-led; developers self-onboard via npm.
Traction & metrics
- "10x growth of product adoption and self-serve signups to the platform" - no base or absolute numbers given; no time period specified.
- "Stable release of Self-served module and super-fast adoption"
- Team of 25 members
- 4 named/partially-named paying customers shown: (1) anonymised hyper-growth fintech (processes billions of dollars monthly), (2) anonymised company serving Fortune 50 clients protecting billions of people, (3) Medigate (NYC IoT/medical device security), (4) Kovrr (cyber risk modeling for (re)insurers)
- No ARR, MRR, customer count, churn, or NRR figures disclosed.
Competition / moat
Not explicitly addressed in deck. Implicit competitive positioning:
- Alternatives are building in-house (slide 12 lists 13+ components needed) or piecemealing Auth0/Okta-style point solutions.
- Moat framing: full-stack (frontend portal + backend APIs in one), PLG-native (self-serve from day 1), fast integration (one npm install), and tenant-based pricing that scales with customer growth.
Team & funding ask / use of funds
- Team: 25 members; no named founders/execs listed in deck.
- Near-term plans: Establish management team (Product, Marketing, Sales); scale and enhance product; become "leading user management platform in the PLG era."
Recommended financial model
- Archetype + why: SaaS ARR model with tenant-based cohort expansion. Revenue is driven by number of tenants (customer companies) × average revenue per tenant, tiered by Basic/Growth/Enterprise. PLG funnel (self-serve signups → conversion → upsell) is the core growth engine. Classic land-and-expand dynamics mean net revenue retention is the key long-run lever.
- Forecast horizon & granularity: 3 years monthly (M1–M36), with Year 1 monthly detail and Years 2–3 quarterly rollup. Monthly granularity needed to track PLG cohort conversion lags.
- Key drivers & assumptions:
- New self-serve signups per month]
- Free-to-paid conversion rate
- Tier mix at conversion: Basic / Growth / Enterprise split
- Average revenue per tenant by tier - Basic, Growth, Enterprise
- Monthly tenant churn rate
- Net revenue retention / expansion (upgrade Basic → Growth → Enterprise)
- Headcount: 25 today; hiring plan for Product/Marketing/Sales
- Gross margin
- S&M spend as % of revenue
- R&D spend
- G&A
- Scenarios (Base / Bull / Bear - which variables flex):
- Base: 10–12% MoM signup growth, 7% conversion, tier mix as above, 1.5% monthly churn, 115% NRR
- Bull: 15% MoM signup growth, 10% conversion, faster Enterprise mix shift, 1% churn, 125% NRR
- Bear: 5–7% MoM signup growth, 5% conversion, churn 2.5%, NRR 105%, slower enterprise hiring
- Required sheets / outputs:
- Assumptions - all drivers in one place, clearly tagged
- PLG Funnel - signups → trialists → paid conversions by month
- Cohort ARR - monthly cohort table: new ARR, expansion ARR, churned ARR, net ARR
- P&L - revenue, gross profit, S&M, R&D, G&A, EBITDA
- Headcount plan - by function, with salary assumptions
- Cash / Runway - burn rate, runway from funding (amount TBD)
- Dashboard - ARR bridge, NRR, CAC payback, monthly burn
Frequently asked
Is the Frontegg financial model free?+
Yes. The Frontegg 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 Frontegg'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
Created by ex-finance professionals
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