(This was my response to a question on Quora.)
It depends on what stage of the discussion you are with investors. If it is the first meeting, they are not interested in the details. At that stage they are keen to understand the team, the business overview, your aspirations and plans to meet those aspirations, the market potential, your view of the opportunity, the business traction so far – including quality of product/service, marketing program, sales program, people management, business case at a broad numbers level, etc.
If all of the above seems positive, and if they are keen to pursue this further then they would be keen to understand in detail the numbers behind your plans.
Even in the first meeting, while they may not want to see the numbers in the presentation, the post-presentation conversation will be to assess how well you understand the business case around your concept. Hence, even if you do not present it, you do not have a choice of not preparing it and knowing it well to discuss about it.