Natural Cycles

naturalcycles.com →

+12%

est. 2Y upside i

HealthcareSeries C

Natural Cycles is the only app to be FDA cleared as birth control. Natural and non-invasive we offer a brand new, revolutionary birth control option that’s given millions of individuals the power to go hormone-free.

Rank

#1204

Sector

Digital Health, FemTech, Healthcare Technology

Est. Liquidity

~3Y

Data Quality

Data: High

Natural Cycles is a profitable, high-growth Series C company with a strong competitive moat as the only FDA-cleared digital birth control app.

Last updated: March 10, 2026

Bull (35%)+200%

Strong market adoption of Perimenopause Mode, successful international expansion, and continued dominance in digital contraception pushes 2027 revenue to $250M+ and justifies a $1.2B+ valuation at 5x-6x revenue.

Base (40%)+50%

Maintains strong position in core markets, but growth moderates due to increased competition from large tech and other femtech players. Achieves ~$220M revenue by 2027, leading to a $500M-$600M valuation at 2x-2.5x revenue.

Bear (25%)-50%

Increased competition from free apps and large tech, coupled with slower-than-expected adoption of new features like Perimenopause Mode, leads to growth stagnation. Revenue reaches only ~$120M by 2027, resulting in a down round or acquisition at a $150M-$200M valuation, significantly impacting common stock value.

Est. time to liquidity~2.5 years

Preference Stack Risk

high

Investors hold $100M in liquidation preferences, which is 28.57% of the estimated $350M valuation.

Dilution Risk

high

The company plans another private funding round before a potential IPO, indicating future dilution for existing shareholders.

Secondary Liquidity

none

There is no indication of active secondary markets or tender offers for employee equity.

Questions to Ask at the Interview

Strategic questions based on Natural Cycles's data — designed to show you've done your homework.

  • 1

    “How does Natural Cycles plan to maintain its market share and competitive advantage against increasing competition from large tech players like Apple and Google, especially as they integrate more advanced fertility tracking features into their platforms?”

  • 2

    “With the ambitious target of $100M in revenue by 2025 and the launch of NC° Perimenopause, what are the key strategic initiatives and product roadmap priorities to achieve and sustain this accelerated growth over the next 2-3 years?”

  • 3

    “Given the plan for another private funding round before a potential IPO in 2-3 years, how is the company thinking about managing employee equity dilution, and what are the current thoughts on potential secondary liquidity options for employees?”

Community

Valuation Sentiment

Our model estimates +12% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.