INCYMO AI Financial Model
AI/ML Startup Financials (Free Excel Download)
AI-generated video ad creative scenarios for mobile game user acquisition teams, delivered as a B2B SaaS subscription.
professionals from Deloitte
Used by professionals from
About this model
Incymo AI provides sales intelligence and workflow tooling for revenue teams. It gives sellers account context and repeatable guidance, positioning AI as a way to improve commercial execution rather than relying solely on individual research and manual sales-process management.
The B2B product is suited to a recurring SaaS motion: land a revenue team, establish usage in its daily workflow, then expand across users, accounts, and use cases. Subscription value depends on adoption, sales-team scale, retained engagement, and the cost of AI-enabled delivery.
The model builds ARR from customer logos, seats, price, expansion, and churn. It tracks activation and ongoing usage as leading indicators, then incorporates LLM and infrastructure costs, gross margin, sales efficiency, customer-success and product headcount, monthly burn, and funding runway.
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 INCYMO AI
incymo.ai
How to build a detailed financial model for INCYMO AI
A complete walkthrough of the business, drivers, and assumptions behind the downloadable INCYMO AI model - distilled from its pitch deck and publicly available information.
Product & value proposition
- Product: smartUA - AI tool that generates video ad creative scenarios for mobile games.
- 5 years of algorithm development behind the product.
- Key outcome claim: x10 ROAS improvement from AI-generated creatives.
- Addresses a validated pain point: 100% of 20 surveyed UA leads (some with $20M marketing budgets) rate finding the right creative idea as "10/10 painful".
- 100% successful cases on record, asterisked as based on only 4 clients.
Market
- Current mobile games market: $75.6B.
- TAM (Incymo.AI framing, 2023): $71.5B - calculated as (477,998 Google Play games + 1,012,065 App Store games) × $4k/game/month × 12. Note: this uses total app store catalogue as denominator, which is extremely aggressive.
- SOM (2023): $28.8M - 600 addressable games (per Incymo CRM) × $4k/month × 12.
- Incymo addressable cut of current market: $7.5B.
- Future mobile games market (2028): $235.1B; CAGR 54% to 2028.
- Incymo addressable market in 2028: $23.5B.
Revenue model
- Pricing: $199 per scenario. Bundled to ~$4k per game per month - implying roughly 20 scenarios/game/month at list price, or a flat game-level subscription of $4k/month.
- Billing cadence: Monthly subscription per game.
- Channel: Direct sales (UA leads/managers at game studios); content marketing via monetization blog (>20k visitors).
- Unit: One "game" = one paying subscription unit.
Traction & metrics
- Paying clients: 4.
- Pipeline: 15+ more in process.
- Named clients: SAYGAMES, EIDOLON, AdQuantum.
- MRR (Jul–Dec 2022, at time of deck): $3.5k.
- MRR target end-2023: $160k.
- Client target end-2023: 40 games.
- Partners considering investment/partnership: AppsFlyer, Xsolla (since December).
- Implied ARPU at target: $160k MRR / 40 clients = $4k/game/month - consistent with stated pricing.
Unit economics
- Implied ACV per game: $4k/month × 12 = $48k/year.
Competition / moat
- Moat claims: 5 years of algorithm development; proprietary creative scenario generation trained on gaming performance data.
Team & funding ask / use of funds
- Anna Zdorenko - Founder & CEO: 2× founder, 7 years in startups; ex-Deloitte, ex-Tinkoff, ex-partner Startech.vc; mentored 100+ startups; mentor at TechStars, Global Pilots (Microsoft and E&Y).
- Alex - Co-founder, Head of ML: 10 years in industrial high-load, big data, data science; ex-EPAM, Grid Dynamics (Kohl's, Amazon); Head of R&D at largest CIS bank.
- Vic - Co-founder, CPO: 7 years in video creatives for games; 7k+ creatives produced; founded creative agency of 70 professionals; 10× customer metrics improvement track record.
- Advisers: Dima (founder, Green Grey publisher), Sergey (Director of Marketing, Plarium), Michael (ex-Product Owner, Nexters).
- Total team size: 12 additional members unlockable upon investment commitment.
- Prior funding: Angels round $500k (Jun–Dec 2021).
- Current ask: $300k to hit KPI required by a16z and close Series A in 2023.
- Use of funds: Not explicitly broken down in deck.
- Valuation target (2023 goal): $40M.
Recommended financial model
- Archetype + why: B2B SaaS MRR/ARR model with a client × ARPU driver. Revenue is purely subscription (per-game per-month), making MRR the natural north-star metric. No marketplace or usage complexity; straightforward seat/unit-based SaaS.
- Forecast horizon & granularity: Monthly, Jan 2023 – Dec 2024 (24 months). Extend to annual 2025–2026 for roadmap targets. Monthly granularity needed because the deck anchors on MRR milestones and the trajectory from $3.5k (Dec 2022) to $160k (Dec 2023) must be modelled month by month.
- Key drivers & assumptions:
| Driver | Value |
|---|---|
| Starting MRR (Jan 2023) | $3.5k (~4 clients × ~$875 blended, or partial $4k pricing) |
| ARPU per game per month | $4,000 |
| Target clients end-2023 | 40 |
| Target MRR end-2023 | $160k |
| Implied net new clients/month 2023 | ~3 per month (linear ramp from 4 to 40) |
| Target annual revenue 2024 | $24M |
| Implied clients end-2024 at $4k ARPU | 500 games ($24M / $4k / 12) |
| Monthly churn rate | 2–3% |
| Sales cycle | 1–2 months |
| Gross margin | 70–80% |
| Headcount / opex growth | needs budget; use of $300k raise not broken out |
| CAC | needs estimate; blog (>20k visitors) is organic channel |
- Scenarios (Base / Bull / Bear - which variables flex):
- Base: Linear client ramp to 40 by Dec 2023; $4k ARPU flat; 2% monthly churn; → $160k MRR exit rate.
- Bull: Faster ramp (AppsFlyer/Xsolla partnership converts pipeline faster); 50 clients by Dec 2023; ARPU holds or expands to $5k with upsells.
- Bear: Pipeline conversion slower (5–6 month sales cycles); 20 clients by Dec 2023; $80k MRR; Series A delayed.
- Key flex variables: new clients/month, conversion rate of 15+ pipeline, churn, ARPU.
- Required sheets / outputs:
- Assumptions - all drivers with / tags, toggleable for scenarios.
- MRR Build - monthly: opening clients, new adds, churned, closing clients × ARPU = MRR → ARR.
- P&L - revenue, COGS (estimated hosting/AI compute), gross profit, S&M, R&D, G&A, EBITDA. Monthly 2023–2024.
- Cash - starting cash (post $300k raise), monthly burn, runway to Series A.
- KPI Dashboard - MRR, client count, ARPU, gross margin %, burn, runway; milestone flags vs. deck targets.
- Scenario toggle - Base / Bull / Bear switcher driving all sheets.
Frequently asked
Is the INCYMO AI financial model free?+
Yes. The INCYMO AI 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 INCYMO AI'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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