KINGSCROWD MARKET INTELLIGENCE

Declining revenue rarely turns into growth by the next raise

Reg CF and Reg A+ follow-on raises, grouped by revenue status at the previous raise; 409 follow-on raises.

REVENUE MOMENTUM
Only 27% of companies with declining revenue reported growth next time, compared with 66% of companies already growing.
Declining revenue rarely turns into growth by the next raiseShare reporting positive annual revenue growth at the follow-on raise, grouped by revenue status at the previous raise.
Source: Kingscrowd data, raises closed by Aug. 12, 2026.
Method: Bars show simple shares; missing follow-on growth values are excluded. Zero revenue denotes pre-revenue status.
Source data (4 rows)