When investors read a startup’s P&L statement, they are generally looking for information that will help them assess the company’s financial performance and potential for profitability. Some key things they may look for include:

• Revenues: Investors will want to see that the company has a consistent and growing stream of revenues, which is an indication of a healthy business. They may also look at the breakdown of revenues by product or service to see which areas are performing well and which may need improvement.
• Expenses: Investors will want to see that the company has manageable levels of expenses and is keeping costs under control. They may also look at the breakdown of expenses to see where the company is spending its money and if it makes sense with the company’s business model.
• Net Income: Investors will want to see if the company is profitable or not, and how that changes over time. This will indicate the company’s ability to generate income and be able to sustain its operations and growth.
• Gross margin: Investors will also look at gross margin which is the difference between revenue and cost of goods sold. This will give them an idea of how much the company is making on each product or service.
• Operating margin: Operating margin is the difference between revenue and operating expenses, which will give an idea of how efficiently the company is running its operations.
• Trends: Investors will also look for trends over time, such as whether the company’s revenues, expenses, and net income are increasing or decreasing, which can indicate whether the company is growing, shrinking or maintaining stability.
• Projections: Investors will also look for future projections, like revenue and expense forecasts, which will give them an idea of the company’s potential for growth.

Overall, investors will be looking for a P&L statement that shows a financially stable and growing company with a clear path to profitability.