TRTrym Financial Model
Enterprise/Security Startup Financials (Free Excel Download)
Cannabis farm management SaaS - mobile and web platform for cultivation tracking, compliance, environmental monitoring, and harvest analytics.
professionals from Deloitte
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About this model
Trym provides mobile and web software for cannabis-farm cultivation tracking, compliance, environmental monitoring, and harvest analytics. It gives growers a vertical operating system for managing production and regulatory workflows across the cultivation cycle.
The company is a focused B2B SaaS provider to cultivators, with a cited monthly price point near $1,200. Its deck describes customers across 15 US states and a seed preferred round, supporting a straightforward customer-cohort model rather than a diversified revenue build.
The model starts with new cultivators, ARPU, onboarding, expansion, and retention. Hosting and support costs, sales efficiency, gross margin, product development, and operating expenses turn the ARR forecast into an explicit capital and runway plan.
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 Trym
How to build a detailed financial model for Trym
A complete walkthrough of the business, drivers, and assumptions behind the downloadable Trym model - distilled from its pitch deck and publicly available information.
Product & value proposition
Core platform has two apps:
- Trym Grow App - track tasks, plants, and environmental conditions per room.
- Trym Explore App - team scheduling (weeks/months ahead), batch creation and tracking, compliance reporting to Metrc.
Key features: Compliance Reporting, Team Management, Predicted Yields, Environmental Monitoring, Batch Management, Harvest Analytics.
Integrations: Metrc (CA and OR), Argus Controls, TrolMaster, Slack.
Value prop: replaces pen-and-paper operations with a single platform consolidating grow data, task management, and regulatory compliance..
Market
- US legal cannabis retail market: $17B in 2020 → $31B projected by 2024; source cited as BDS Analytics/Arcview Market Research.
- US cultivator license count: 39,015 (2020) → 71,145 projected (2024); source Cannabiz Media; 2024 extrapolated.
- TAM calculation (company's own): 71,145 farms × $1,200/month SaaS fee × 12 = >$1.02B ARR.
- Cultivators are 4× more numerous than any other license category (manufacturers, dispensaries, retailers).
Revenue model
- SaaS subscription charged per cultivation facility/account.
- Implied price point: $1,200/month per account.
- Metric used internally: MRR / Account (exact target redacted in slide 13, shown as ">$---- Avg. MRR / Account").
- ARR as north-star metric.
- Channel: direct sales (Neil Chau, Head of Partnerships; Bryan Marquina, Business Development).
- No tiered pricing, usage-based, or per-seat structure mentioned in deck.
Traction & metrics
- Customers: 58; label below is blurred/redacted in image but the number "58" is confirmed by JSON extracted text.
- MoM growth: 30%; metric description blurred.
- Revenue (implied ARPU or MRR): $425; exact metric label blurred.
- Cultivation facilities managed: 2.3 million sq. ft. across 15 states.
- Annualized crop value under management: ~$1B (calculated as 2M sq. ft. × 40g/sq. ft. / 454g × $1,440/lb × 4 harvests/year).
- Revenue / customer growth trajectory: combo bar-line chart shown (slide 12) - specific $ figures and year labels are fully blurred/redacted; trend is steeply upward across 4 projected years.
Unit economics
- Implied ARPU: $1,200/month (from TAM calc). The $425 figure on slide 8 may be current realized MRR/account vs. $1,200 list - unclear due to blurred label.
- No CAC, LTV, gross margin, or payback period disclosed.
Competition / moat
Competitive landscape mapped on a 2×2 matrix:
- Axes: Cannabis Regulatory Compliance (x) vs. Controls / Management Systems (y).
- Trym positioned as uniquely combining both axes - neither pure compliance nor pure environmental controls.
- Compliance-focused competitors: Metrc, MJ Freeway, BioTrackTHC, GrowFlow, Trellis, Flourish, Canix, GeoShepard.
- Controls/environmental competitors: Aroya, Orion, Grodan, Priva, Growlink, Grownetics, TrolMaster, Argus.
- Moat claim: "Trym occupies a unique position in the market and in the mindshare of customers".
- Exit precedent: DuPont acquired Granular (row crop farm management software) for $300M at ~2M acres / ~$1.3B annualized crop value under management. Trym draws direct parallel (2M sq. ft. / ~$1B annualized cannabis crop value).
Team & funding ask / use of funds
Team:
- Matt Mayberry - Co-Founder & CEO (ex-Amazon)
- Benjamin Wong - Co-Founder & COO
- Karen Mayberry - Co-Founder & Marketing Dir.
- Ryan Tucker - Head of Engineering (ex-HBO)
- Neil Chau - Head of Partnerships (ex-Baker, Green Bits)
- Igor Andre - Head of Customer Success (ex-Trellis)
- Ella Alpina - Marketing Manager
- Zach Siglin - Sr. Software Engineer
- Bryan Marquina - Business Development
- Cory Madden - Software Engineer
- Matt Johnson - Principal Engineer
- Jesus Mendoza - Software Engineer
Prior company backgrounds include Amazon, SunPower, HBO, Trellis, Baker, Green Bits.
Funding ask:
- Raising: $1.5M Series Seed Preferred Round
- Pre-money valuation: redacted
- Major investors already in: 7thirty Capital, WelCan Capital, Delta Emerald Ventures
- Runway post-raise: redacted
- Key goals post-raise: redacted targets for paying accounts, ARR, and avg. MRR/account (all figures blurred)
- Use of funds: not specified in deck
Recommended financial model
Archetype + why: SaaS ARR model with customer cohort build-up. Trym is a pure subscription B2B SaaS product with a single primary buyer segment (cannabis cultivators), a defined price point (~$1,200/month), and ARR as the stated KPI. This is a textbook SaaS ARR model - monthly new customers × ARPU, tracked through gross retention and expansion.
Forecast horizon & granularity: Monthly for Year 1–2; quarterly for Years 3–4; 4-year total (aligns with the 4-period combo chart in slide 12 and the 2024 TAM horizon). Starting from current ~58 paying accounts.
Key drivers & assumptions:
| Driver | Value |
|---|---|
| Starting paying accounts | 58 |
| Monthly new customer additions (current) | ~17/month implied (30% MoM growth on ~58 base) |
| MoM customer growth rate - Base | 15% |
| MoM customer growth rate - Bull | 25% |
| MoM customer growth rate - Bear | 8% |
| Average MRR per account | $425 (current realized) → $1,200 (target/list) |
| Gross revenue churn (monthly) | 2% |
| Net revenue retention | 95% annually |
| COGS (hosting + support) | 20% of revenue |
| S&M expense | 40% of revenue declining to 25% by Yr 4 |
| R&D expense | 30% of revenue declining to 20% by Yr 4 |
| G&A expense | 15% of revenue declining to 10% by Yr 4 |
| Seed round proceeds | $1.5M |
| Burn rate pre-raise (monthly) | ~$80–100K/month based on 12-person team |
| TAM ceiling (2024 cultivators) | 71,145 |
Scenarios (Base / Bull / Bear - which variables flex):
- Growth rate (MoM new customers): primary flex variable
- ARPU ramp speed: secondary flex (how fast realized MRR moves from $425 toward $1,200)
- Churn rate: tertiary (Bear scenario assumes higher churn)
Required sheets / outputs:
- Assumptions - all drivers with scenario toggles (Base / Bull / Bear)
- Customer Build - monthly new customers added, churned accounts, ending customer count, cumulative
- Revenue - MRR by cohort or simplified: ending customers × ARPU; ARR; MoM and YoY growth %
- P&L - revenue, COGS, gross profit, S&M, R&D, G&A, EBITDA, net loss
- Cash & Runway - opening cash, seed proceeds, monthly burn, ending cash, months of runway
- Market Penetration - customers as % of TAM (71,145 cultivators) over time
- Dashboard - ARR, customer count, ARPU, gross margin %, cash runway, MoM growth (KPI cards + charts)
Frequently asked
Is the Trym financial model free?+
Yes. The Trym 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 Trym'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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