Quarterly investor reporting: the same place, the same shape, every quarter.

What a quarterly package usually includes

• A short written update: highlights, challenges, hiring, product progress and specific asks.
• Quarterly financial statements: profit and loss, balance sheet and cash flow.
• Key metrics for your business, presented the same way each quarter.
• Cash position and runway, and any change to the plan.
• Board materials, if some investors also sit on the board.
• Once a year, the budget, the updated cap table and the annual financial statements, and for some companies a refreshed 409A valuation.

Consistency matters more than length. Investors compare quarter to quarter, so present the same metrics in the same format, and explain when a definition changes.

Protecting financials and the cap table

A cap table names every holder and their position. Financial statements reveal margins and burn. Make those folders view-only, so investors see pages watermarked with their name, email address and the date, and the original file is never sent to their browser. You can allow downloads of the letter itself if investors like to keep it.

Investors ask questions. Handle them in the room's question and answer area, where each is assigned and categorized, so the answer is available to every investor who should see it. The audit log records every view and download, chained so alterations are detectable.

When you raise your next round, much of the diligence material is already organized. A new investor group can be given access to past quarters in minutes.