Briarcliff Insurtech GmbH
InsurTech SaaS · Germany
Overview
€1.1M
1 Sept 2023
1 Sept 2027
€298.3K
€932K
84.7%
€130.5K
14.0%
10.1%
Credit & Runway
T3M EBITDA burn avg
(€30.2K)
RML (runway, current)
n/a
T3M cash burn avg
(€22K)
Cash-out date
n/a
excl. debt service
n/a incl. debt service
Today → cash-out → maturity
excl. debt serviceincl. debt service
Performance
Revenue vs EBITDA
Cash vs Debt
Maturity Sept 2027 (+15mo) — beyond chart window
Customer Movement
New vs churned per month · net line
CRR Migration
24 months · rating stable over the window
Key Metrics
as of Q2 2026 · comparisons vs prior quarter
Portfolio-standard
ARR
€1.9M
Growth
18.1%
NRR
98.2%
Rule of 40
38.1%
Gross annualised churn
1.1%
Burn multiple
0.0x
Retention movement
Upsell
2.1%
Downsell
1.0%
Annualised, same base as gross churn: NRR ≈ 100% + upsell − downsell − gross churn.
Detail
Monthly Financial Detail
24 monthly periods · 8 quarter subtotals · T12M · EUR
| Line Item | Jul 24 | Aug 24 | Sept 24 | Q3 2024 | Oct 24 | Nov 24 | Dec 24 | Q4 2024 | Jan 25 | Feb 25 | Mar 25 | Q1 2025 | Apr 25 | May 25 | Jun 25 | Q2 2025 | Jul 25 | Aug 25 | Sept 25 | Q3 2025 | Oct 25 | Nov 25 | Dec 25 | Q4 2025 | Jan 26 | Feb 26 | Mar 26 | Q1 2026 | Apr 26 | May 26 | Jun 26 | Q2 2026 | T12M |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ARR | €1.3M | €1.3M | €1.4M | €1.4M | €1.4M | €1.4M | €1.4M | €1.4M | €1.5M | €1.5M | €1.5M | €1.5M | €1.5M | €1.6M | €1.6M | €1.6M | €1.6M | €1.7M | €1.7M | €1.7M | €1.7M | €1.7M | €1.7M | €1.7M | €1.8M | €1.8M | €1.8M | €1.8M | €1.9M | €1.9M | €1.9M | €1.9M | €1.9M |
| YoY % | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 24.5% | 25.1% | 22.0% | — | 22.9% | 22.7% | 21.7% | — | 21.6% | 21.1% | 22.1% | — | 19.9% | 20.1% | 18.1% | — | — |
| Revenue | €107.5K | €110.2K | €113K | €330.7K | €114.2K | €117.7K | €119.3K | €351.3K | €121.9K | €122.4K | €124.6K | €368.9K | €128.7K | €130.4K | €132.8K | €391.9K | €133.8K | €137.7K | €137.9K | €409.5K | €140.4K | €144.4K | €145.2K | €430K | €148.2K | €148.2K | €152.2K | €448.6K | €154.3K | €156.6K | €156.9K | €467.8K | €1.8M |
| YoY % | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 24.5% | 25.1% | 22.0% | — | 22.9% | 22.7% | 21.7% | — | 21.6% | 21.1% | 22.1% | — | 19.9% | 20.1% | 18.1% | — | — |
| Gross Margin % | 72.0% | 72.3% | 72.7% | 72.3% | 73.0% | 73.4% | 73.7% | 73.4% | 74.1% | 74.4% | 74.8% | 74.4% | 75.1% | 75.5% | 75.8% | 75.5% | 76.2% | 76.5% | 76.9% | 76.5% | 77.2% | 77.6% | 77.9% | 77.6% | 78.3% | 78.6% | 79.0% | 78.6% | 79.3% | 79.7% | 80.0% | 79.7% | 78.2% |
| OpEx | -€72K | -€73.4K | -€75.1K | -€220.5K | -€75.4K | -€77.5K | -€78.1K | -€231K | -€79.4K | -€79.4K | -€80.5K | -€239.3K | -€82.7K | -€83.4K | -€84.5K | -€250.6K | -€84.8K | -€86.8K | -€86.5K | -€258.2K | -€87.6K | -€89.8K | -€89.7K | -€267.2K | -€91.2K | -€90.7K | -€92.8K | -€274.7K | -€93.5K | -€94.5K | -€94.1K | -€282.2K | -€1.1M |
| EBITDA | €5.4K | €6.2K | €7.1K | €18.7K | €7.9K | €9K | €9.9K | €26.8K | €10.9K | €11.7K | €12.7K | €35.3K | €14K | €15K | €16.2K | €45.2K | €17.2K | €18.6K | €19.5K | €55.2K | €20.8K | €22.3K | €23.4K | €66.4K | €24.8K | €25.8K | €27.5K | €78K | €28.9K | €30.3K | €31.4K | €90.5K | €290.2K |
| EBITDA Margin % | 5.0% | 5.7% | 6.3% | — | 7.0% | 7.6% | 8.3% | — | 8.9% | 9.6% | 10.2% | — | 10.9% | 11.5% | 12.2% | — | 12.8% | 13.5% | 14.1% | — | 14.8% | 15.4% | 16.1% | — | 16.7% | 17.4% | 18.0% | — | 18.7% | 19.3% | 20.0% | — | — |
| Operating Cash Burn (CF) | -€3.4K | -€3.1K | -€2.2K | -€8.7K | -€642 | €122 | €1.3K | €769 | €1.4K | €3.1K | €4.3K | €8.8K | €5.7K | €6.1K | €7.5K | €19.2K | €8.5K | €9.7K | €11.2K | €29.5K | €12.1K | €14.5K | €14.8K | €41.4K | €16.4K | €17.9K | €18.8K | €53.1K | €20.8K | €21.7K | €23.7K | €66.1K | €190.1K |
| CF from Investments | -€2.2K | -€2.2K | -€2.3K | -€6.6K | -€2.3K | -€2.4K | -€2.4K | -€7K | -€2.4K | -€2.4K | -€2.5K | -€7.4K | -€2.6K | -€2.6K | -€2.7K | -€7.8K | -€2.7K | -€2.8K | -€2.8K | -€8.2K | -€2.8K | -€2.9K | -€2.9K | -€8.6K | -€3K | -€3K | -€3K | -€9K | -€3.1K | -€3.1K | -€3.1K | -€9.4K | -€35.1K |
| New Equity (CF) | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 |
| Cash (BS) | €307.4K | €295.2K | €283.7K | €283.7K | €273.8K | €264.6K | €256.5K | €256.5K | €248.4K | €242.1K | €236.9K | €236.9K | €232.9K | €229.4K | €227.3K | €227.3K | €226.1K | €226.1K | €227.6K | €227.6K | €229.8K | €234.5K | €239.4K | €239.4K | €245.8K | €253.7K | €262.5K | €262.5K | €273.2K | €284.7K | €298.3K | €298.3K | €298.3K |
| Debt (BS) | €1.1M | €1.1M | €1.1M | €1.1M | €1.1M | €1.1M | €1.1M | €1.1M | €1.1M | €1M | €1M | €1M | €1M | €1M | €1M | €1M | €1M | €1M | €995K | €995K | €988K | €981K | €974K | €974K | €967K | €960K | €953K | €953K | €946K | €939K | €932K | €932K | €932K |
| RML | 90.2 mo | 96.8 mo | 129.2 mo | — | 426.5 mo | n/a | n/a | — | n/a | n/a | n/a | — | n/a | n/a | n/a | — | n/a | n/a | n/a | — | n/a | n/a | n/a | — | n/a | n/a | n/a | — | n/a | n/a | n/a | — | — |
Balance-Sheet Changes
24 monthly movements · EUR
| Line Item | Jul 24 | Aug 24 | Sept 24 | Oct 24 | Nov 24 | Dec 24 | Jan 25 | Feb 25 | Mar 25 | Apr 25 | May 25 | Jun 25 | Jul 25 | Aug 25 | Sept 25 | Oct 25 | Nov 25 | Dec 25 | Jan 26 | Feb 26 | Mar 26 | Apr 26 | May 26 | Jun 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Trade Receivables | €0 | €1.6K | €1.7K | €706 | €2.1K | €941 | €1.5K | €328 | €1.3K | €2.5K | €981 | €1.4K | €632 | €2.3K | €76 | €1.5K | €2.4K | €458 | €1.8K | -€8 | €2.4K | €1.3K | €1.4K | €142 |
| Trade Payables | €0 | €549 | €655 | €151 | €814 | €244 | €543 | -€29 | €457 | €874 | €289 | €430 | €133 | €798 | -€107 | €440 | €857 | -€15 | €598 | -€211 | €828 | €300 | €396 | -€164 |
| Deferred Revenue | €0 | €2.5K | €2.8K | €1.1K | €3.4K | €1.5K | €2.4K | €526 | €2.2K | €3.9K | €1.6K | €2.3K | €1K | €3.8K | €122 | €2.4K | €3.9K | €733 | €2.9K | -€12 | €3.9K | €2K | €2.2K | €226 |
| Cash | €0 | -€12.3K | -€11.5K | -€9.9K | -€9.2K | -€8.1K | -€8.1K | -€6.3K | -€5.2K | -€3.9K | -€3.5K | -€2.2K | -€1.1K | -€10 | €1.4K | €2.3K | €4.7K | €4.9K | €6.4K | €7.9K | €8.8K | €10.7K | €11.5K | €13.5K |
| Debt | €0 | -€7K | -€7K | -€7K | -€7K | -€7K | -€7K | -€7K | -€7K | -€7K | -€7K | -€7K | -€7K | -€7K | -€7K | -€7K | -€7K | -€7K | -€7K | -€7K | -€7K | -€7K | -€7K | -€7K |
Quarter Update
Auto-drafted from this quarter's figures — review before use.
Briarcliff Insurtech GmbH closed the period with ARR of €1.9M (18.1% YoY), a Rule of 40 score of 38.1% and a burn multiple of 0.0x.
Operating cash burn has improved for the 23rd consecutive month, averaging -€22K over the last three months. Runway stands at n/a, with cash-out projected n/a.
Gross annualised churn stands at 1.1% against net revenue retention of 98.2%.
Analyst Notes
- Priya Nair·24 Jun 2026
Q2 management accounts reconcile to the monthly reporting pack — cash bridge ties out with no unexplained movements. Comfortable with the reported position for this review.
- Tom Beckett·11 Jun 2026
Flagged the step-up in S&M spend in the trailing quarter; management confirm it is front-loaded pipeline investment rather than a run-rate change. Revisit at the next review.
08:04 GMT
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