Q1 2026 M&A hit $813B in deal value. Record number. But mid-market deal volume actually declined. The bottleneck isn't interest, it's valuation gaps. And most of those gaps trace back to the financial model sitting in the data room. In 85% of deals, the buyer's QoE report cuts the asking price. Not because the business isn't worth it. Because the seller couldn't prove it was. Four things I'd want in any model before a buyer sees it.