Runway
DEFINITION
The number of months a startup can operate before running out of cash at the current net burn rate.
In depth
Runway is the single clearest operational number for an early-stage founder. It tells you how much time you have to hit the next milestone, raise the next round, or become default alive.
Standard advice: maintain at least 18–24 months of runway post-raise so you have room to recover from a single missed quarter. Under 6 months = raise or cut now.
Formula & example
Runway (months) = Cash on Hand ÷ Net Monthly Burn
EXAMPLE$500K in bank, burning $50K/mo → Runway = 10 months.
Rules of thumb
- Raise at 12 months runway remaining. Don't wait.
- Cut when you hit 9 months and there's no round in sight.
- Default alive = revenue growth covers burn growth before runway ends.
Put it into practice
Related terms
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Last reviewed 14 April 2026 by Abhi Verma.