SGA Dental Partners · Growth Analytics

Lead-to-Revenue Waterfall & Capture Analysis

How closed revenue builds month over month, and how quickly the dollars from a new lead actually materialize. Built from the created-month cohort dataset.

Report type: Cohort revenue waterfall Window: Oct 2025 to Jul 2026 Prepared: July 9, 2026 Status: Jul 2026 partial (still booking)
Total Closed Revenue
$2.66M
across 70 closed deals
Average Deal Size
$37,939
high-ticket case value
Captured by Month 1
68%
of eventual revenue
Captured by Month 2
87%
most dollars are early
Executive Summary

The money comes in fast, then trickles for months

The pipeline has closed $2,655,743 across 70 deals from 3,670 leads created between October 2025 and July 2026, at an average case value of $37,939. Revenue matures quickly: 31% of a lead's eventual revenue closes in the same month it is created, 68% by the end of the following month, and 87% within two months.

The remaining 13% arrives slowly over months four through seven, which means a real long tail exists for reps willing to work aged leads. The November 2025 cohort is the standout at $542,751 and $1,126 per lead, while the newest cohorts (April to July 2026) look light only because they have not had time to mature.

Chart 1

Revenue Waterfall — how we got to $2.66M

Each bar is the revenue that closed in that month, stacked on top of everything closed before it. The running "cum" figure under each month is the share of the $2.66M total booked through that point.

$0K $400K $800K $1.20M $1.60M $2.00M $2.40M $2.80M $2K Oct-25 0% cum $302K Nov-25 11% cum $181K Dec-25 18% cum $325K Jan-26 30% cum $252K Feb-26 40% cum $417K Mar-26 56% cum $406K Apr-26 71% cum $235K May-26 80% cum $444K Jun-26 97% cum $92K Jul-26 100% cum $2.66M TOTAL 100% booked
Reading it: the climb steepens from March 2026 onward — March, April, and June each added north of $400K. Halfway to the total (50.0%) was not reached until February 2026, so the back half of the window carried most of the load.
Sale MonthClosed That MonthCumulative% of Total
Oct-25$2,299$2,2990.1%
Nov-25$301,856$304,15511.5%
Dec-25$181,165$485,32018.3%
Jan-26$324,609$809,92930.5%
Feb-26$252,239$1,062,16840.0%
Mar-26$416,967$1,479,13555.7%
Apr-26$405,887$1,885,02271.0%
May-26$234,659$2,119,68179.8%
Jun-26$444,491$2,564,17296.6%
Jul-26$91,571$2,655,743100.0%
Total$2,655,743$2,655,743100.0%
Chart 2

Revenue Capture Curve — % captured by month N

Measured from the month each lead is created. The blue line is the cumulative share of a cohort's revenue in hand by that many months out; the pale bars are what each individual month adds.

0% 20% 40% 60% 80% 100% 31% 38% 18% 2% 6% 2% 2% Mo 0 Mo 1 Mo 2 Mo 3 Mo 4 Mo 5 Mo 6 Mo 7 31% 68% 87% 100% Months since lead was created
Cumulative % captured Added that month
LagRevenueAddedCumulative CapturedNotes
Month 0$819,02230.8%30.8%Closed the same month the lead came in
Month 1$997,71737.6%68.4%Closed the month after
Month 2$487,24018.3%86.8%
Month 3$00.0%86.8%No closes landed at this lag
Month 4$64,0612.4%89.2%
Month 5$160,5796.0%95.2%
Month 6$63,1052.4%97.6%
Month 7$64,0192.4%100.0%
≈$218K still to book

Directional estimate: applying this capture curve to the still-maturing Feb–Jun 2026 cohorts implies roughly $217,884 of additional revenue may land as they age. Not booked, not a forecast — a maturity-adjusted read on cohorts that are not done yet.

Chart 3

Which lead cohorts paid off

Revenue attributed to the month each lead was created, with revenue-per-lead (amber line, right axis) to control for volume. Bar color flags how mature each cohort is, so recent months are not judged as finished.

$0K $100K $200K $300K $400K $500K $600K $0 $200 $400 $600 $800 $1000 $1200 $158K Oct-25 $344/lead $543K Nov-25 $1,126/lead $343K Dec-25 $916/lead $404K Jan-26 $950/lead $316K Feb-26 $892/lead $315K Mar-26 $1,032/lead $203K Apr-26 $558/lead $163K May-26 $386/lead $212K Jun-26 $564/lead Jul-26 $0/lead
Mature Maturing Still filling in Brand new Revenue per lead
Created MonthLeadsRevenue% of TotalRev / LeadProjected Ult.Maturity
Oct-25460$158,0586.0%$344--Mature
Nov-25482$542,75120.4%$1,126--Mature
Dec-25374$342,58712.9%$916--Mature
Jan-26425$403,87215.2%$950$413,848Mature
Feb-26354$315,68111.9%$892$331,552Maturing
Mar-26305$314,71111.9%$1,032$352,947Maturing
Apr-26363$202,7077.6%$558$233,656Still filling in
May-26423$163,3636.2%$386$188,305Still filling in
Jun-26376$212,0138.0%$564$309,925Still filling in
Jul-26108$00.0%$0--Brand new
Total3,670$2,655,743100.0%$724--
Watch the October 2025 cohort: $344 per lead is less than a third of November's, most likely because tracking started mid-stream. Confirm before treating it as a genuine low.
What to do about it

Prioritized actions

  1. Protect speed-to-lead and the first-30-day cadence

    68% of revenue closes within a month of the lead arriving. Every hour of first-response delay and every dropped early follow-up is where the biggest dollars leak.

    Impact: HighEffort: Low
  2. Double down on the highest-yield lead sources

    The Nov 2025 and Mar 2026 cohorts returned $1,126 and $1,032 per lead against a $724 blended average. Trace what drove those months and buy more of it.

    Impact: HighEffort: Medium
  3. Build a structured re-engagement play for aged leads

    13% of revenue lands in months four through seven. That long tail is real money most reps abandon after 60 days. Put a defined 4-to-7-month touch sequence behind it.

    Impact: MediumEffort: Medium
  4. Judge recent cohorts against the capture curve, not the raw total

    Apr to Jun 2026 look weak on revenue-per-lead only because they are one to three months old. Score them against expected maturity (68% by month 1, 87% by month 2) before calling them underperformers.

    Impact: MediumEffort: Low
  5. Reconcile the October 2025 baseline

    Confirm whether the low Oct 2025 revenue-per-lead is a real result or a data-start artifact, so cohort comparisons rest on clean footing.

    Impact: LowEffort: Low

Method & caveats. Waterfall steps are revenue booked by sale/status month. The capture curve is the lag between lead-created month and close month, blended across all cohorts; because recent cohorts are still maturing, it slightly over-weights the early months, so the true long tail is likely a touch fatter than shown. "Projected Ultimate" is a directional maturity adjustment, not a committed forecast. July 2026 is a partial month. Figures reconcile to a $2,655,743 total on both the deal-count and revenue triangles.

Prepared by SGA Dental Partners Growth Team | Confidential