Quinyx Financial Model
Consumer/DTC Startup Financials (Free Excel Download)
Cloud-native workforce management (WFM) SaaS platform for shift-based businesses - scheduling, forecasting, time & attendance, and employee engagement.
professionals from Deloitte
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About this model
Quinyx is a cloud-native workforce-management platform for shift-based businesses. It combines scheduling, forecasting, time and attendance, and employee engagement, serving multi-location employers in sectors including retail, hospitality, food service, and travel.
The company sells recurring subscriptions with per-employee expansion mechanics. Its deck cited 110% net revenue retention, more than 90% gross margin, and 50% year-on-year growth, alongside operations across eight countries from its Swedish base.
The model builds ARR by country and customer cohort from new logos, employees managed, modules, expansion, renewal, and churn. Implementation, sales capacity, delivery, customer success, and operating expenses show how expansion can sustain the stated margin and retention profile.
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 Quinyx
quinyx.com
How to build a detailed financial model for Quinyx
A complete walkthrough of the business, drivers, and assumptions behind the downloadable Quinyx model - distilled from its pitch deck and publicly available information.
Product & value proposition
- Cloud-native, mobile-first WFM suite covering the full workforce circle: Insights → Forecast → Schedule → Engagement & Communication → Task → Time & Attendance.
- AI/ML-driven demand forecasting and automated scheduling.
- Employee engagement module: pulse surveys, badges, shift booking, leave requests via mobile app.
- Compliance engine for multi-jurisdiction labour rules.
- SaaS delivery: secure hosting, subscription model, scalable, continuous updates.
- Available on all devices; 90% of users access via mobile only.
- App Store rating: 4.5/5; Google Play: 4,095 ratings.
Market
- Global WFM Software Market: USD 4.2bn in 2017 → USD 8bn+ by 2026; implies ~7.4% CAGR over 9 years.
- North America + Europe: >2/3 of global WFM market in 2017.
- HCM cloud adoption (Western Europe, IDC): cloud was 38% of market in 2017 at +24% CAGR; projected to reach 56% by 2021, surpassing on-premise.
- Gartner: "By 2025, 40% of large enterprises with hourly paid workers and variable demand for labor will use automation to drive workforce scheduling decisions."
Revenue model
- Pure SaaS subscription: per-user (employee) or per-customer-site recurring license.
- Channels: direct sales (scalable sales team referenced slide 31); partner/reseller channel not mentioned.
- Contract structure (annual vs monthly, multi-year): implied annual given 98% renewal rate.
Traction & metrics
- 50% YoY growth
- 750+ customers
- 7M app logins / month
- 98% renewal rate
- 90% of users access via mobile only
- 110% net retention rate (net revenue retention)
- 99.98% historical uptime
- 90%+ SaaS gross margin
- 3x average daily app visits per user
Unit economics
- SaaS gross margin: 90%+
- Net revenue retention (NRR): 110% - indicates expansion revenue exceeds churn.
- Renewal rate: 98% - implies ~2% gross logo churn annually.
- Customer ROI claims (indicative of value delivered, not Quinyx's own unit economics):
- 12% reduction in customer salary costs
- 50% saved time on admin
- 10% improved employee satisfaction
- 5% increased customer service
Competition / moat
- Positioning: high Employee Engagement + high AI business optimisation quadrant - "Where Happy Workforce and Happy Business Happens."
- Moat claims: cloud-native architecture (faster iteration than legacy on-premise incumbents); AI/ML forecasting; mobile-first UX driving adoption; compliance engine for multi-jurisdiction rules; 110% NRR indicating strong stickiness.
- Gartner Market Guide recognition: 2018 & 2019.
- Customer base spans major global brands: IHG, McDonald's, TGI Fridays, Swarovski, Daniel Wellington, Dominos, Starbucks, Decathlon, Boots, Burger King, London City Airport.
Team & funding ask / use of funds
- Investors (existing): Battery Ventures, ZOBITO Growth Capital, Alfvén & Didrikson.
- Awards: Tech Tour Growth 50 Company 2019, EY (likely EY Entrepreneur award).
Recommended financial model
- Archetype + why: SaaS ARR model with seat-based (per-employee) expansion mechanics. Quinyx is a pure-play subscription SaaS with 110% NRR, 90%+ gross margin, 50% YoY growth, and multi-geography expansion - the standard SaaS ARR waterfall (new ARR + expansion ARR − churned ARR) is the right lens. Layer a multi-country revenue split given active 8-country presence.
- Forecast horizon & granularity: 5-year annual (Year 1–5), with Year 1 shown monthly for cash/hiring visibility. Base year = FY2019 (deck dated ~H2 2019).
- Key drivers & assumptions:
| Driver | Value | Source |
|---|---|---|
| Beginning customer count | 750 | - |
| YoY customer growth rate | 50% | but apply only to new logo adds; confirm whether 50% is revenue or logo growth |
| Gross logo churn | 2% | derived from 98% renewal rate |
| Net revenue retention (NRR) | 110% | - |
| SaaS gross margin | 90% | - |
| Average contract value (ACV) per customer | ~€40–80k/yr | - |
| Sales & marketing as % of revenue | 40–50% | Typical growth-stage B2B SaaS at 50% YoY; calibrate to rule of 40 |
| R&D as % of revenue | 15–20% | Typical for cloud-native SaaS at this stage |
| G&A as % of revenue | 10–12% | Standard |
| New market entry cost (US, DE expansion) | - | Flag as scenario variable - significant capex on sales headcount |
| Headcount growth | - | Scale with revenue; assume ~70% of opex is people |
- Scenarios (Base / Bull / Bear - which variables flex):
- Base: 50% YoY revenue growth sustaining 2 more years then decelerating to 35%/25%/20%; NRR 110%; gross margin 90%.
- Bull: NRR expands to 115–120% (more upsell/module attach); US market gains traction; growth stays ≥50% for 3 years.
- Bear: Growth slows to 30% (competitive pressure, macro); NRR falls to 105%; US expansion burn higher than expected; path to profitability stretches.
- Required sheets / outputs:
- Assumptions - all drivers, toggleable by scenario
- ARR Waterfall - Beginning ARR, new logo ARR, expansion ARR, churned ARR, Ending ARR
- Revenue bridge - by geography (Nordics / UK / Rest of Europe / US)
- P&L - Revenue → Gross Profit → S&M / R&D / G&A → EBITDA → Net Income
- Headcount plan - by function (Sales, CS, R&D, G&A)
- Cash flow & runway - operating CF, capex, ending cash; key given growth-stage fundraise context
- Unit economics summary - LTV/CAC, payback, NRR trend
- Scenario toggle / sensitivity - NRR × ACV matrix; growth rate vs. burn rate
Frequently asked
Is the Quinyx financial model free?+
Yes. The Quinyx 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 Quinyx'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
Hey, I’m Alex and I created Finamodel.
Over my years in the finance industry I kept building the same models over and over again. Same structure, same assumptions, different logo. So I started building frameworks to turn them into clean, reusable templates.
Every model here is one I’d actually use for a client, and I personally vet each one before it goes up.
I’m not an expert in every industry, but I’ve built enough models to know what belongs in one. And when something is completely foreign to me, I reach out to my network for experts to work on our models with us.
Having a template library on hand cuts a first build from hours to minutes.
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