{"ok":true,"engine":"aicost.burn-multiple-diligence","inputs":{"netNewArrUsd":3500000,"netBurnAnnualUsd":4200000,"annualRevenueUsd":3500000,"reportedGrossMarginPct":62,"annualInferenceSpendUsd":700000,"inferenceBookedAsGrowthPct":0,"modelSlug":"","inputTokensPerUnit":0,"outputTokensPerUnit":0,"annualUnits":0,"cachedInputPct":0,"batchPct":0},"result":{"ok":true,"verdict":"EFFICIENT","verdictReason":"Burn multiple 1.2x is under 1.5x — efficient growth by 2026 Series A standards.","burnMultiple":1.2,"burnThresholds":{"exceptional":1,"efficient":1.5,"acceptable":2,"burning":3},"netBurnAnnualUsd":4200000,"netNewArrUsd":3500000,"inferenceAnnualUsd":700000,"inferenceBasis":"reported","vendorExactPerUnitUsd":null,"disguisedInferenceUsd":0,"margin":{"reportedGrossMarginPct":62,"trueGrossMarginPct":62,"marginErasedPts":0,"reportedCogsUsd":1330000,"trueCogsUsd":1330000},"marginBenchmark":{"aiMedianPct":52,"aiRangeLow":50,"aiRangeHigh":60,"saasRangeLow":70,"trueGrossMarginPct":62,"position":"above-ai-norm","note":"True margin 62% is above the 2026 AI norm (50-60%)."},"burnQuality":{"disguisedInferenceUsd":0,"subsidyShareOfBurnPct":0,"note":"No inference is disguised as growth on the stated inputs; the burn multiple reflects real capital deployment."},"arrForEfficientBurnUsd":2800000,"arrGapUsd":0,"monthlyUsd":350000,"cost":1.2,"memo":"Reported burn multiple is 1.2x (efficient) on $4,200,000 net burn against $3,500,000 net new ARR. Inference appears booked in COGS; gross margin holds at 62%. True margin is above the ~52% 2026 AI median. Ask for the GL classification of inference spend and the NRR of the cohort driving the ARR.","questions":["Show the GL: how much inference/compute cost is booked in COGS vs sales & marketing vs R&D?","What is net revenue retention on the cohort generating this net new ARR? (120%+ is the 2026 floor.)","Is any usage sold at or below cost to drive logos — and what share of ARR is on such terms?","What is the gross-margin trend over the last 4 quarters, net of all inference cost?","What is the burn multiple trend quarter-over-quarter — is capital efficiency improving or decaying?","Are there customer contracts with unlimited usage for fixed fees or price guarantees that cap expansion revenue?"],"assumptions":["Inference uses the reported annual figure ($700,000); supply a workload to price it vendor-exact. *","0% of inference assumed mis-booked as growth/S&M — confirm against the GL. *","Burn multiple = net burn ÷ net new ARR over the same period; thresholds per 2026 Series A benchmarks."],"sensitivities":[{"driver":"inferenceBookedAsGrowthPct","note":"The distortion knob — the higher this is, the more the reported burn multiple and gross margin flatter reality."},{"driver":"netNewArrUsd","note":"Denominator of the burn multiple; verify it is NET new ARR (after churn), not gross bookings."}],"_model":"burn-multiple-diligence"}}