SaaS Revenue Model Template: Free Excel File With MRR, Churn, Expansion and ARR Tabs

A SaaS revenue model template is an Excel spreadsheet model that turns customer-level subscription data into a monthly recurring revenue (MRR) waterfall, churn and expansion rates, and an annual recurring revenue (ARR) bridge. It shows how much of next year's ARR the installed base will deliver and how much sales must find. The free version here is a complete build spec, with the tabs, formulas and a worked example you need to make the file yourself.

As of November 2026. Figures below are dated to their sources.

Key facts

What a SaaS Revenue Model Template Needs: Five Tabs, One Data Source

Most broken SaaS models share one flaw. Someone typed churn and expansion in as assumptions, with no customer data behind them. Build every metric from one customer-by-month grid, and the file reconciles itself each time you add a month.

• Data: one row per customer, one column per month, normalized MRR in each cell.
• MRR: the monthly waterfall from opening to ending MRR.
• Churn: gross and net MRR churn, logo churn, and trailing 12-month retention.
• Expansion: expansion MRR by type, plus its share of net new MRR.
• ARR: the annual bridge and the forecast that boards and investors read.

Definitions come first. ChartMogul's metrics library calculates MRR as the amount paid for the subscription item divided by the months in the plan interval, so a $24,000 annual contract is $2,000 of MRR. It groups MRR movements into new business, expansion, contraction, churn and reactivation. Those five buckets become your row labels. Leave one-time fees out of the grid, including implementation and setup charges, because they do not recur.

Next step. Export invoices or subscriptions from your billing system and write a half-page definitions note before you touch a formula. Record how you treat annual prepayments, pauses, usage overages and contract end dates.

How to Build the SaaS Revenue Model Template in Excel, Step by Step

The formulas below assume a Data tab with customer IDs in column A, first paid month in column B, and months from column C onward. Dates sit in row 4 and customers in rows 5 to 504. Enter zeros instead of blanks. In these examples, column C is the prior month and column D is the current month.

1. Find each customer's first paid month. In B5, enter =INDEX($C$4:$AZ$4,MATCH(TRUE,INDEX(C5:AZ5>0,0),0)) and fill down.
2. New MRR. =SUMIFS(Data!D$5:D$504,Data!$B$5:$B$504,Data!D$4)
3. Expansion MRR. =SUMPRODUCT((Data!C$5:C$504>0)*(Data!D$5:D$504>Data!C$5:C$504)*(Data!D$5:D$504-Data!C$5:C$504))
4. Reactivation MRR. =SUMPRODUCT((Data!C$5:C$504=0)*(Data!$B$5:$B$504<Data!D$4)*Data!D$5:D$504)
5. Contraction MRR. =SUMPRODUCT((Data!D$5:D$504>0)*(Data!D$5:D$504<Data!C$5:C$504)*(Data!C$5:C$504-Data!D$5:D$504))
6. Churned MRR. =SUMPRODUCT((Data!C$5:C$504>0)*(Data!D$5:D$504=0)*Data!C$5:C$504)
7. Add a check row. Opening MRR plus new, expansion and reactivation, minus contraction and churn, must equal SUM(Data!D$5:D$504). Any difference other than zero means a customer fell through the logic.

Here is one month with illustrative inputs:

Next step. Load the last 24 months of customer data. You need at least 13 months for trailing 12-month retention, and the extra history shows whether a bad quarter was a one-off. Do not start forecasting until the check row shows zero in every month.

The Churn Tab: Where Monthly Numbers Hide Annual Problems

Use ChartMogul's two rate definitions. Gross MRR churn is churn plus contraction, divided by opening MRR. Net MRR churn subtracts expansion and reactivation from that total before dividing. Add logo churn as customers lost divided by opening customers, because a falling customer count can sit behind healthy revenue retention for several quarters.

The example month produces gross MRR churn of 2.5% and net MRR churn of -0.5%. That negative figure looks strong until you compound the gross rate. Held for 12 months, 2.5% monthly leaves about 73.8% of the opening revenue. SaaS Capital's April 2026 benchmarks, drawn from a survey of more than 1,000 private B2B SaaS companies, put median gross revenue retention (GRR) at 91% for bootstrapped companies with $3M to $20M in ARR. Matching that median requires monthly gross churn of about 0.78%, so the example business loses revenue roughly three times as fast as the benchmark.

Calculate trailing 12-month retention from customer cohorts. Do not chain monthly rates in this block. With column D as the month 12 months ago and column P as the current month, the formulas are:

• Net revenue retention (NRR): =SUMPRODUCT((Data!D$5:D$504>0)*Data!P$5:P$504)/SUM(Data!D$5:D$504)
• GRR: =SUMPRODUCT((Data!P$5:P$504<Data!D$5:D$504)*Data!P$5:P$504+(Data!P$5:P$504>=Data!D$5:D$504)*Data!D$5:D$504)/SUM(Data!D$5:D$504)

The NRR formula keeps churned customers in the denominator at their starting MRR and counts them at zero in the numerator. Snowflake's disclosure follows the same principle, since a cohort customer that stops using the platform stays in the calculation. New customers stay out of the numerator because they had no MRR 12 months ago. The GRR formula caps each customer at its starting MRR, so expansion cannot lift the result above 100%. Because it compares only the two end dates, it can miss a customer who contracted and then recovered within the year.

Definitions can move the number more than operations do. The worked example shows 100.0% monthly NRR if you exclude reactivation and 100.5% if you include it. Compounded for a year, that gap is 100% versus about 106.2%. Pick one treatment, label it on the tab, and keep it fixed. Before comparing with a public company, read its method. Snowflake's 125% rate as of October 31, 2025 compares product revenue across two trailing years for capacity-contract customers, which differs from a point-to-point MRR calculation.

Next step. Put monthly gross churn beside its annualized equivalent using =(1-rate)^12. Review the annual figure with your team each month, since a monthly percentage makes a leak look small.

The Expansion Tab: Separate Real Growth From Price and Concentration

A single expansion line tells you little. Tag each expansion event by type, such as seats, tier upgrade, add-on, price increase or usage overage, using a helper table with customer, month, amount and tag. Then calculate expansion rate as expansion MRR divided by opening MRR, expansion as a share of gross new MRR, and the top 10 customers' share of expansion. A price increase can repeat only so often, while seat growth depends on your customers' headcount, so the two deserve different forecast assumptions.

Use public benchmarks by segment:

• Bootstrapped, $3M to $20M ARR: SaaS Capital's April 2026 data shows median NRR of 103% and 90th percentile NRR of 117.9%.
• ACV of $25,000 to $50,000: SaaS Capital's September 2025 report shows median NRR of 102%, with 111% at the top quartile and 97% at the lowest.
• Growth link: the same report found that companies with NRR of at least 110% grew faster than the population median, while those below 100% grew more slowly.
• Public reference point: on its Q3 2026 results reported November 4, 2026, Datadog posted trailing 12-month NRR in the low-120% range, and CFO David Obstler put GRR in the mid- to high-90% range.

Datadog also shows why a concentration line belongs on this tab. Obstler said its largest customer reduced usage in Q3 2026 while staying above its minimum commitment, and Q4 guidance assumes revenue from that customer at the minimum. Your model should allow the same treatment, with a separate forecast row for any account large enough to change the expansion rate on its own.

Next step. Rerun the last 12 months of expansion without your largest three accounts and without price increases. Use that lower rate as your base case, and treat the remainder as upside until it repeats.

The ARR Tab: Build the Bridge, Then Size the Sales Number

The ARR tab summarizes the MRR tab in annual terms. Start with ARR as MRR x 12, the ChartMogul run-rate definition. Bridge opening ARR to closing ARR with the same five movements, each multiplied by 12. Then link closing ARR to the forecast with three drivers: new-logo bookings, annual GRR and annual expansion.

This tab shows directly how much new-logo ARR the growth target requires at your retention rate. Take $1,200,000 of opening ARR and SaaS Capital's 24% median growth rate for companies above $1M in ARR, which sets a $288,000 net new target. The table uses the three NRR levels from the $25,000 to $50,000 ACV band.

The gap between the bottom and top rows is $168,000 of new-logo ARR on the same target. This simple version ignores churn among customers signed during the year, so add that in the full monthly forecast. Compare the required figure with quota capacity and pipeline coverage. If the required bookings exceed capacity, the plan needs more sellers, better retention or a lower target.

Set growth assumptions against current market data. KeyBanc Capital Markets and Sapphire Ventures' survey, released November 13, 2025, projected private SaaS ARR growth rising from 15% in 2024 to 20% in 2025. It also expected gross retention to approach 90% after falling to 86% in 2023. A plan with sharply better retention than those figures needs a named operational reason, such as a new customer success team or an annual-contract migration.

Keep ARR labeled as an operating metric and reconcile it to GAAP revenue on a separate row. ARR is a run-rate figure, while subscription revenue is generally recognized over the service period. Public-company reporting adds another constraint. The SEC staff's non-GAAP C&DI 100.04, amended December 13, 2022, gives accelerating ratably recognized revenue in a non-GAAP performance measure as an example of an individually tailored accounting principle, according to WilmerHale. Companies heading toward an IPO should get counsel's view on their ARR disclosure well before filing.

Next step. Run the table above with your own opening ARR and NRR, then send the required new-logo figure to your head of sales. Agree on capacity before the board sees the plan.

Build It Free or Start From a Ready-Made SaaS Model

The five tabs above cover the revenue side of a SaaS model, and you can build them free with the formulas in this guide. Expect most of the work to go into cleaning billing data and settling definitions. The formulas are the quick part. Once the check row is at zero, you can answer the questions investors ask first: where net new ARR came from, how much of it repeats, and what the plan requires from sales.

A revenue build stops short of a full operating model, since it has no hiring plan, cash runway or three-statement link. ModelStack's SaaS Financial Projection Template ($69) already has that structure, combining an ARR-based revenue build and MRR waterfall with a full three-statement model. Founders preparing a raise can use the SaaS Fundraising Model ($59), which adds a cap table and dilution math. To test customer economics first, start with the free Unit Economics Calculator. A ready-made file saves you from rebuilding the plumbing, so your time goes to the data and the decisions it drives.

Sources

• SaaS Capital, Benchmarking Metrics for Bootstrapped SaaS Companies, April 24, 2026
• SaaS Capital, 2025 SaaS Retention Benchmarks for Private B2B Companies, September 18, 2025
• ChartMogul, SaaS Metrics Library, accessed November 2026
• Snowflake, Financial Results for the Third Quarter of Fiscal 2026, December 3, 2025
• MarketBeat, Datadog Q3 Earnings Call Highlights, November 4, 2026
• KeyBanc Capital Markets and Sapphire Ventures, Private SaaS Company Survey press release, November 13, 2025
• WilmerHale, SEC Updates Non-GAAP Compliance and Disclosure Interpretations, December 15, 2022

Related: Browse all Best Financial Model Templates on ModelStack.