Learn SaaS Metrics & Financial Modeling for Software Investors

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The First Course Designed For Buyside Software Investing

Gain the knowledge you need on SaaS metrics and financial modeling to stand out in the competitive recruiting process, or to excel on the job.

Illustrative Firms/Roles

Software PE

Silver Lake

Vista Equity

Thoma Bravo

Tech Buyout

Hellman & Friedman

Warburg Pincus

Francisco Partners

Growth Equity

General Atlantic

TA Associates

Insight Partners

Venture Capital

Index Ventures

Sequoia Capital


Software IB

Goldman TMT

Morgan Stanley Tech



Get An Edge By Mastering SaaS Metrics & Financial Modeling

The course is comprised of easy-to-follow video tutorials that dive deep into each topic. Each section includes supplemental templates, spreadsheets, and PDFs for download.

1. Intro to Software & SaaS

  • Introduction to software business model
  • Pros and cons of the software-as-a-service business model
  • Growth opportunities and scalability
  • Risk factors and debt capacity

2. SaaS Metrics Overview

  • How to calculate the top SaaS financial metrics for investors
  • When and how to use these metrics as an investor
  • Define ranges for “Good/Bad/OK” for each metric

3. Software Accounting & Revenue Recognition

  • Understanding how software revenue is accounted for
  • Understand how software revenue flows through all financial statements
  • Understand the interplay between billings, bookings, deferred revenue, unearned revenue, and backlog
  • How to build a revenue model for software

4. Pricing Models: Perpetual, Monthly, and Usage-Based Licenses

  • Understand the accounting treatment and how to model the different pricing models
  • Understand how different licenses flow through financial statements
  • Understand the pros and cons from financial perspective of each business model

5. Software Margins & Expenses

  • What are the common expenses incurred by software companies
  • How to build a financial model projection for each expense

6. Advanced Cohort & Retention Analysis

  • How to build an ARR/MRR waterfall
  • Understand important retention metrics and how they apply to cohort analysis
  • Understanding how to perform retention analysis both at the cohort level and at the overall company reporting level

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Mike Hinckley Is a Financial Modeling Expert, Based in San Francisco

10+ years of finance & growth stage experience

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General Atlantic

Investor at leading growth firm with $86b in assets

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Operator at General Atlantic's portfolio company​

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Wharton MBA

Graduate of top business school

money back guarantee

100% Money Back Guarantee

If you aren’t satisfied, for any reason, just send me an email at within 14 days of your purchase and you’ll get a full refund.

Frequently Asked Questions

If you have any questions not answered below, feel free to email me at, and I’ll answer as soon as I can!

The course is designed for anyone who is specifically interested in or applying for software or SaaS investing roles.  

  • Undergrad analyst or internship
  • Pre-MBA associate (on-cycle or off-cycle)
  • Post-MBA associate or VP

If you have no experience with financial modeling basics (e.g. 3-statement models), I'd recommend that you start there instead of this course.

I offer a 100% money back guarantee.  If you don't like it, email me at for any reason within 14 days, and I'll refund you. 

You'll get immediate access to the course right after you purchase!

You will have 2-years of access!  The idea behind this is to allow students to purchase with the peace-of-mind that they can utilize the course materials to prepare for interviews over multiple recruiting cycles!

My flagship Growth Equity course gives a brief intro to some SaaS metrics & financial modeling concepts, but this course covers many more topics and goes into MUCH more depth. 

In this course, I go into the details of how professional software investors use metrics and financial models to analyze software companies, whereas in the growth equity course I spend most of the time explaining financial modeling concepts that are common to all growth investing, regardless of industry.

Email me at and I'll get back to you ASAP

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