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月間グロスバーン、ネットバーン、キャッシュランヤード、バーンマルチプルを計算し、資本効率を把握します。

Burn rate measures how quickly a company spends its capital to fund operations before generating positive cash flow. Gross burn is total monthly operating expenses, while net burn is expenses minus revenue - the actual cash being consumed each month. Cash runway tells you how many months until you run out of money. The burn multiple (net burn ÷ net new ARR) tells you how efficiently you're converting spend into revenue - the defining capital efficiency metric for 2025/2026. This calculator helps you compute all four metrics instantly.

この計算機の使い方

Enter your total monthly operating expenses, monthly revenue, monthly net new ARR, and current cash reserves.
Adjust inputs to model different spending and growth scenarios.
A burn multiple below 1x means you're generating more than $1 of ARR for every $1 burned - that's top-quartile efficiency..

計算式と具体例

Gross Burn = Total Monthly Operating Expenses:

Net Burn = Monthly Expenses - Monthly Revenue.

Burn Multiple = Net Burn ÷ Net New ARR (monthly).

Cash Runway = Cash Reserves ÷ Net Burn (if net burn > 0).

For example: $50K expenses - $30K revenue = $20K net burn.

With $20K net new ARR: $20K ÷ $20K = 1.0x burn multiple.

With $500K reserves: $500K ÷ $20K = 25 months runway..

業界ベンチマーク

According to KeyBanc Capital Markets 2025 survey, the median public SaaS company has a burn multiple of 1.8x. Top-quartile companies achieve below 1.5x, and elite operators (Snowflake, HubSpot) are below 1.0x. Startups typically have 12-18 months of runway post-Seed round. Companies with a burn multiple above 3x need strong growth to justify the burn.

指標	値	出典
Burn Multiple - Elite	< 1.0x	KeyBanc 2025
Burn Multiple - Top Quartile	< 1.5x	KeyBanc 2025
Burn Multiple - Median	1.8x	KeyBanc 2025
Burn Multiple - Needs Attention	> 3.0x	SaaS Capital
Recommended Minimum Runway	12 - 18 months	First Round Capital
Seed Stage Post-Revenue Burn	$30K - $50K / month	CB Insights

よくある質問

What is the difference between gross burn and net burn?expand_more

Gross burn is total monthly operating expenses. Net burn is expenses minus revenue. Gross burn shows how much you're spending; net burn shows how quickly you're consuming cash reserves. Investors focus on net burn.

How much runway should a startup have?expand_more

12-18 months is standard. If you have less than 6 months of runway, you need to cut costs or raise capital urgently. VCs rarely invest in companies with less than 6 months of runway.

What is the burn multiple?expand_more

Burn Multiple = Net Burn ÷ Net New ARR (monthly). It measures how much you spend to generate each dollar of new recurring revenue. A burn multiple of 1.0x means you spend $1 to generate $1 of new ARR. Below 1.0x is elite efficiency; above 3.0x needs attention.

Why is burn multiple important in 2026?expand_more

In the current fundraising environment, capital efficiency matters more than growth at all costs. Investors screen on burn multiple before ARR growth. A burn multiple below 1.5x signals disciplined growth; above 3x signals potential cash problems.

How does burn rate affect fundraising?expand_more

Higher burn requires faster growth to justify. Investors calculate months of remaining runway and evaluate whether you can hit key milestones before needing more capital. A high burn multiple signals inefficiency.

What is a healthy burn multiple?expand_more

Below 1.0x is elite (Snowflake, HubSpot). 1.0-1.5x is top-quartile. 1.5-2.5x is average. 2.5-3.5x needs attention. Above 3.5x is concerning unless growth is exceptional.

How can I improve my burn multiple?expand_more

Reduce non-essential spend, focus on higher-margin revenue streams, improve pricing, reduce churn (which boosts net new ARR without additional spend), and prioritize features that drive retention.