How to read a cue card: a section-by-section guide

A cue card is a company's anonymised first impression. Read well, it tells you almost everything you need to decide whether a conversation is worth starting.

Cue cards are deliberately anonymous — they protect the seller's identity while giving you enough signal to make a real decision. Here's how to read each section like an analyst.

The header: category & stage

Start here to qualify fast. Sector, business model and stage tell you in seconds whether the opportunity is inside your mandate or outside it.

The numbers: revenue, growth, EBITDA

Look for consistency more than magnitude. A smaller business with clean, growing, profitable numbers is often a better target than a larger one with a volatile chart.

• Revenue range and trajectory — is it durable?
• EBITDA or path to it — quality of earnings
• Concentration risk — one customer, one channel, or diversified?

The intent: what the seller wants

The engagement terms reveal seriousness and fit. Match them against your own timeline before you express interest — alignment here is what makes the next conversation productive.