[{"rogueId":"customers.gross_revenue_retention","slug":"gross_revenue_retention","domain":"customers","defaultLabel":"Gross Revenue Retention (GRR)","description":"Revenue retained from existing customers excluding expansion","fieldType":"percentage","unit":"%","maturity":"general","suggestedForStages":["seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["Finance","Sales"],"stageRelevance":{"seriesA":"core","seriesB":"core","seriesC":"core","public":"core"},"definitionSource":{"tier":"published","sourceName":"SaaS Metrics Standards Board","sourceUrl":"https://www.saasmetricsboard.com/gross-revenue-retention","sectionRef":"GRR","publicationDate":"2023-01-01","attributionNotice":"Metric definitions reference standards published by the SaaS Metrics Standards Board (saasmetricsboard.com). imboard is not affiliated with, endorsed by, or a member of SMSB."},"benchmark":{"p25":82,"median":91,"p75":95,"unit":"%","sourceName":"KBCM/Sapphire SaaS Survey 2024 (15th Annual)","sourceYear":"2024","higherIsBetter":true},"formula":"GRR = (Starting ARR − Contraction − Churn) ÷ Starting ARR, on the cohort active at period start. Excludes expansion. Capped at 100% by definition. Per SMSB GRR standard.","whyItMatters":"Isolates the \"do customers stay and not shrink\" signal from expansion noise. GRR is the true downside floor on retention — boards use it to spot product or onboarding deterioration that NRR can hide.","interpretationGuidance":"Per KBCM/Sapphire Private SaaS Company Survey 2024 (§ \"Gross Dollar Retention\"), private SaaS GRR medians typically sit in the high-80s to low-90s, with top-quartile in the mid-90s — distributions vary by ACV cohort and vintage, so pull the current edition. The NRR − GRR gap quantifies expansion contribution; a widening gap with declining GRR is a yellow flag (expansion masking churn). Trend it quarterly — a single-period drop with steady NRR usually means a one-off contraction; persistent decline with flat NRR is a product issue.","relatedKpiIds":["customers.net_revenue_retention","customers.logo_retention_rate","customers.logo_churn_rate","customers.churn_risks","sales.arr"]},{"rogueId":"customers.logo_churn_rate","slug":"logo_churn_rate","domain":"customers","defaultLabel":"Logo Churn Rate","description":"Percentage of customers lost from prior period (inverse of retention)","fieldType":"percentage","unit":"%","maturity":"general","suggestedForStages":["seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["Sales"],"stageRelevance":{"seriesA":"core","seriesB":"core","seriesC":"core","public":"core"},"definitionSource":{"tier":"published","sourceName":"KBCM/Sapphire SaaS Survey 2024 (15th Annual)","sourceUrl":"https://www.cfodesk.co.il/wp-content/uploads/2024/10/2024_kbcm_sapphire_saas_survey.pdf","sectionRef":"Logo Churn","publicationDate":"2024-09-01","attributionNotice":null},"benchmark":{"p25":5,"median":13,"p75":20,"unit":"%","sourceName":"KBCM/Sapphire SaaS Survey 2024 (15th Annual)","sourceYear":"2024","higherIsBetter":false},"formula":"logo_churn_rate = customers_churned ÷ (customers active at period start). Mathematically: 1 − logo_retention_rate. Annualization for monthly/quarterly rates should be explicit (e.g. (1 − monthly_retention)^12, not monthly_churn × 12).","whyItMatters":"Direct read on whether customers are walking away. Independent of revenue-weighting, so it cannot be masked by a few large expansions.","interpretationGuidance":"Per KBCM/Sapphire Private SaaS Company Survey 2024 (§ \"Customer Churn\"), private SaaS logo churn typically sits in the high single digits annually, with top-quartile below 5% — but distributions are highly sensitive to ACV cohort (low-ACV SMB SaaS routinely sees 20%+ annual logo churn; six-figure enterprise contracts often see <3%). Pull the current vintage rather than citing a stale point estimate. Pair with `customers_churned` (absolute count) and `gross_revenue_retention` (revenue-weighted view).","relatedKpiIds":["customers.logo_retention_rate","customers.customers_churned","customers.gross_revenue_retention","customers.net_revenue_retention","customers.churn_risks"]},{"rogueId":"customers.logo_retention_rate","slug":"logo_retention_rate","domain":"customers","defaultLabel":"Logo Retention Rate","description":"Percentage of customers retained from prior period","fieldType":"percentage","unit":"%","maturity":"general","suggestedForStages":["seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["Sales"],"stageRelevance":{"seriesA":"core","seriesB":"core","seriesC":"core","public":"core"},"definitionSource":{"tier":"published","sourceName":"SaaS Metrics Standards Board","sourceUrl":"https://www.saasmetricsboard.com/logo-retention","sectionRef":"Logo Retention","publicationDate":"2023-01-01","attributionNotice":"Metric definitions reference standards published by the SaaS Metrics Standards Board (saasmetricsboard.com). imboard is not affiliated with, endorsed by, or a member of SMSB."},"formula":"logo_retention_rate = (logos active at period start AND active at period end) ÷ (logos active at period start). Excludes net-new logos acquired in-period. Per SMSB Logo Retention standard.","whyItMatters":"Isolates retention quality from revenue-weighting effects. A handful of large expansions can mask high logo churn in NRR — logo retention surfaces it directly.","interpretationGuidance":"Per KBCM/Sapphire Private SaaS Company Survey 2024, private SaaS logo retention concentrates in the high-80s to mid-90s (median around 90% for the broad sample, higher for enterprise contract ACVs). Treat distributional ranges as period- and segment-specific; pull the current vintage of the source rather than relying on a memorized number. Pair every value with `logo_churn_rate` (1 − this) for the inverse view and `customers_churned` for the absolute count.","relatedKpiIds":["customers.logo_churn_rate","customers.customers_churned","customers.gross_revenue_retention","customers.net_revenue_retention"]},{"rogueId":"customers.net_revenue_retention","slug":"net_revenue_retention","domain":"customers","defaultLabel":"Net Revenue Retention (NRR)","description":"Revenue retained from existing customers including expansion, net of churn and contraction","fieldType":"percentage","unit":"%","maturity":"general","suggestedForStages":["seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["Finance","Sales"],"stageRelevance":{"seriesA":"core","seriesB":"core","seriesC":"core","public":"core"},"definitionSource":{"tier":"published","sourceName":"SaaS Metrics Standards Board","sourceUrl":"https://www.saasmetricsboard.com/net-revenue-retention","sectionRef":"NRR","publicationDate":"2023-01-01","attributionNotice":"Metric definitions reference standards published by the SaaS Metrics Standards Board (saasmetricsboard.com). imboard is not affiliated with, endorsed by, or a member of SMSB."},"benchmark":{"p25":96,"median":101,"p75":109,"unit":"%","sourceName":"KBCM/Sapphire SaaS Survey 2024 (15th Annual)","sourceYear":"2024","higherIsBetter":true},"formula":"NRR = (Starting ARR + Expansion − Contraction − Churn) ÷ Starting ARR, measured on the cohort active at period start. New-logo ARR acquired in-period is excluded from both numerator and denominator. Per SMSB NRR standard.","whyItMatters":"The single best read on whether existing customers love the product enough to pay more over time. Strong NRR (>100%) compounds — it lets growth come from inside the install base, lowering reliance on new-logo acquisition and improving capital efficiency.","interpretationGuidance":"Per KBCM/Sapphire Private SaaS Company Survey 2024 (§ \"Net Dollar Retention\"), private SaaS NRR medians have historically clustered around the low-to-mid 100s, with top-quartile in the 110s+ — but cuts vary year-over-year and by ACV segment, so pull the current edition rather than citing a stale point estimate. Top-quartile public SaaS (per typical Bessemer State of the Cloud commentary) cite NRR ≥ ~120% as the benchmark for \"best-in-class\" expansion — treat that thresholds as industry folk-wisdom unless cited to a named edition. Always pair NRR with GRR: a wide gap means expansion is propping up underlying churn.","relatedKpiIds":["customers.gross_revenue_retention","customers.logo_retention_rate","customers.logo_churn_rate","customers.expansion_opportunities","sales.arr"]},{"rogueId":"customers.nps_score","slug":"nps_score","domain":"customers","defaultLabel":"NPS Score","description":"Net Promoter Score — measure of customer satisfaction and loyalty","fieldType":"number","unit":null,"maturity":"general","suggestedForStages":["seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["Product","Sales"],"stageRelevance":{"seriesA":"core","seriesB":"core","seriesC":"recommended","public":"recommended"},"definitionSource":{"tier":"published","sourceName":"Retently NPS Benchmarks 2025","sourceUrl":"https://www.retently.com/blog/good-net-promoter-score/","sectionRef":"NPS Benchmarks","publicationDate":"2025-01-01","attributionNotice":null},"benchmark":{"p25":20,"median":36,"p75":50,"unit":"count","sourceName":"Retently NPS Benchmarks 2025","sourceYear":"2025","higherIsBetter":true},"formula":"NPS = (% promoters, score 9–10) − (% detractors, score 0–6). Passives (7–8) are excluded from both. Range: −100 to +100. Per Bain & Company / Reichheld NPS methodology (HBR 2003, \"The One Number You Need to Grow\").","whyItMatters":"A coarse-grained directional read on customer affection and word-of-mouth potential. Sustained movement (especially regressions) is the signal the board should focus on, not absolute values — the methodology is too noisy for fine comparisons across companies.","interpretationGuidance":"Per Retently NPS Benchmarks 2025, B2B SaaS NPS medians by industry cluster around the +30 to +50 band, with top-quartile +50 to +70. Translate scores to categories: −100 to 0 = needs work, 0–30 = good, 30–70 = great, 70–100 = excellent — these category bands are widely circulated industry folk-wisdom (Bain does not publish strict thresholds). Always pair the score with sample size and response rate; an NPS based on <50 responses or <10% response rate should be flagged as low-confidence.","relatedKpiIds":["customers.nps_trend","customers.retention_insights","customers.churn_risks","customers.key_initiatives"]},{"rogueId":"finance.runway_months","slug":"runway_months","domain":"finance","defaultLabel":"Runway (Months)","description":"Estimated months of cash remaining at current burn rate","fieldType":"number","unit":"months","maturity":"general","suggestedForStages":["preSeed","seed","seriesA","seriesB"],"defaultOwningFunctions":["Finance"],"stageRelevance":{"preSeed":"core","seed":"core","seriesA":"core","seriesB":"recommended"},"definitionSource":{"tier":"published","sourceName":"KBCM/Sapphire SaaS Survey 2024 (15th Annual)","sourceUrl":"https://www.cfodesk.co.il/wp-content/uploads/2024/10/2024_kbcm_sapphire_saas_survey.pdf","sectionRef":"Months of Cash (Runway) by ARR Cohort","publicationDate":"2024-09-01","attributionNotice":null},"formula":"runway_months = max(finance.operationally_available_cash, finance.total_unrestricted_cash) / finance.net_burn_rate. When net burn is negative (cash-flow positive), runway is unbounded — render as ∞ rather than negative. Most boards use a 3-month-trailing-average net burn for the denominator to dampen single-month noise.","whyItMatters":"Drives the timing of every fundraise, hire, and budget cut — and is the number investors lead with in diligence. Crossing under stage-typical thresholds usually triggers a board-level cost or fundraising conversation.","interpretationGuidance":"Stage-typical industry context (per the 2024 KeyBanc Capital Markets & Sapphire Ventures SaaS Survey §runway / month-of-cash discussion): private SaaS companies with $10M–$50M year-end ARR median ~25 months of cash; those <$10M or >$50M ARR median ~18 months. Practitioner heuristics (industry folk-wisdom, not citation-grade): under 6 months is critical (immediate fundraise or cost action); 12–18 months is healthy for active fundraising; 24+ months gives optionality. Recalculate any time burn changes materially or a tranche closes.","relatedKpiIds":["finance.total_cash_in_bank","finance.total_unrestricted_cash","finance.operationally_available_cash","finance.net_burn_rate","finance.burn_rate_scenarios","fundraising.target_raise"]},{"rogueId":"fundraising.convertible_outstanding","slug":"convertible_outstanding","domain":"fundraising","defaultLabel":"Outstanding Convertible Amount","description":"Total principal value of SAFEs and convertible notes outstanding that have not yet converted to equity. These convert at the next priced round, typically at a discount or valuation cap (per the standard Y Combinator SAFE templates and the National Venture Capital Association convertible-note model). Common pitfall: a SAFE stack quietly accumulating between rounds can convert into 15–25% dilution at the next priced round, surprising founders who modeled \"we only sold 10% in this priced round\" math. Boards should always see the fully-diluted cap table including SAFE conversion.","fieldType":"currency","unit":null,"maturity":"general","suggestedForStages":["preSeed","seed","seriesA"],"defaultOwningFunctions":["Finance"],"stageRelevance":{"preSeed":"core","seed":"core","seriesA":"recommended"},"definitionSource":{"tier":"published","sourceName":"Y Combinator Post-Money SAFE (2018+ standard form)","sourceUrl":"https://www.ycombinator.com/documents","sectionRef":"Post-Money SAFE — Definitions (Purchase Amount)","publicationDate":"2018-09-01","attributionNotice":null},"formula":"Sum of principal outstanding on all unconverted convertible instruments (SAFEs per the Y Combinator post-money SAFE template; convertible notes per the NVCA Model Documents). Pre-conversion — actual dilution depends on the next-round price and the SAFE caps/discounts.","whyItMatters":"Hidden dilution that hits at the next priced round. A material SAFE stack changes the math on what a \"20% Series A\" actually costs the founders.","interpretationGuidance":"When `convertible_outstanding` is more than ~10% of the company's next-likely post-money valuation, the board should require a fully-diluted cap-table walk-through at the next priced round modeling exercise. Highest-cap and lowest-cap SAFE conversion paths should both be modeled.","relatedKpiIds":["fundraising.pre_money_valuation","fundraising.post_money_valuation","fundraising.founder_dilution"]},{"rogueId":"fundraising.founder_dilution","slug":"founder_dilution","domain":"fundraising","defaultLabel":"Founder Dilution","description":"Percentage of founders' fully-diluted ownership that is given up in the new round, including any pre-close option-pool top-up (the \"option pool shuffle\" — option-pool expansion taken in the pre-money dilutes existing holders rather than new investors). Common pitfall: founders often quote the \"investor dilution\" (new money / post-money) and forget the option-pool top-up component. The Carta State of Private Markets quarterly reports publish stage-typical dilution ranges that boards should use as a sanity check.","fieldType":"percentage","unit":"%","maturity":"general","suggestedForStages":["preSeed","seed","seriesA","seriesB","seriesC"],"defaultOwningFunctions":["Finance"],"stageRelevance":{"preSeed":"core","seed":"core","seriesA":"core","seriesB":"core","seriesC":"core"},"definitionSource":{"tier":"published","sourceName":"Carta State of Private Markets Q3 2025","sourceUrl":"https://carta.com/data/state-of-private-markets-q3-2025/","sectionRef":"Seed Round Dilution","publicationDate":"2025-10-01","attributionNotice":null},"benchmark":{"p25":12,"median":18,"p75":24,"unit":"%","sourceName":"Carta State of Private Markets Q3 2025","sourceYear":"2025","higherIsBetter":false},"formula":"founder_dilution_pct = (founder_shares_pre − founder_shares_post) / founder_shares_pre × 100. Includes both new-money dilution and any pre-close option-pool top-up borne in the pre-money. Per Carta State of Private Markets methodology.","whyItMatters":"Tracks founder skin-in-the-game over time — sustained ownership matters for long-term motivation and signaling to future investors. Boards balance dilution discipline against capital needs.","interpretationGuidance":"Per Carta State of Private Markets benchmarks, typical per-round dilution for the priced round (excluding pool top-up) is 18–22% at seed, 18–22% at A, 12–18% at B, 10–15% at C+. Out-of-band dilution either signals weak negotiating position or a strategic priced-up next-round set-up.","relatedKpiIds":["fundraising.pre_money_valuation","fundraising.post_money_valuation","fundraising.total_round_size"]},{"rogueId":"fundraising.post_money_valuation","slug":"post_money_valuation","domain":"fundraising","defaultLabel":"Post-Money Valuation","description":"Company valuation immediately after the new round closes, including the new capital raised — the canonical \"valuation\" number quoted in TechCrunch headlines. Per NVCA Model Documents, post-money = pre-money + new money raised. Common pitfall: post-money math gets messy with SAFEs — modern post-money SAFEs (the YC 2018+ form, per the Y Combinator SAFE primer) fix dilution at the SAFE's valuation cap regardless of subsequent priced-round pricing, so the board should always reconcile the headline post-money against the fully-diluted cap table.","fieldType":"currency","unit":null,"maturity":"general","suggestedForStages":["preSeed","seed","seriesA","seriesB","seriesC"],"defaultOwningFunctions":["Finance"],"stageRelevance":{"preSeed":"recommended","seed":"recommended","seriesA":"recommended","seriesB":"recommended","seriesC":"recommended"},"definitionSource":{"tier":"published","sourceName":"NVCA Model Legal Documents (2024 revision)","sourceUrl":"https://nvca.org/model-legal-documents/","sectionRef":"Series A Charter — Post-Money Valuation convention","publicationDate":"2024-01-01","attributionNotice":null},"formula":"post_money_valuation = pre_money_valuation + total_round_size. Per NVCA Model Documents. With outstanding post-money SAFEs, reconcile against the fully-diluted cap table — SAFE dilution is fixed at the cap regardless of priced-round price.","whyItMatters":"The headline number the company carries forward — sets the goalposts for the next round (a down-round means raising at a lower post-money) and the strike-price floor for new option grants.","interpretationGuidance":"Watch the post-money-to-ARR multiple (or post-money-to-net-burn if pre-revenue): public sources covering 2024–2025 (e.g. SaaS Capital \"Private SaaS Company Valuations\" report, valuation-multiples section; Sapphire / KBCM SaaS Survey, \"valuations\" chapter) show median ARR multiples have compressed materially from 2021 peaks. Pull the current edition for the live range — do not rely on a memorized number — and flag out-of-band multiples as next-round price risk. Where you only have rough heuristics, mark them as \"directional, not citation-grade\" rather than fabricating a precise band.","relatedKpiIds":["fundraising.pre_money_valuation","fundraising.total_round_size","fundraising.founder_dilution","sales.arr","finance.net_burn_rate"]},{"rogueId":"fundraising.pre_money_valuation","slug":"pre_money_valuation","domain":"fundraising","defaultLabel":"Pre-Money Valuation","description":"Company valuation negotiated with investors immediately before the new round closes — the denominator for the new investors' ownership math. Per the NVCA Model Documents, pre-money = post-money − new money raised. Common pitfall: when convertible instruments (SAFEs, notes) are outstanding, the \"headline\" pre-money the CEO quotes and the effective pre-money after conversion can differ materially — the board should always ask for both. Equally important: option-pool top-ups taken pre-close come out of the pre-money share count, diluting founders not investors (the \"option pool shuffle\").","fieldType":"currency","unit":null,"maturity":"general","suggestedForStages":["preSeed","seed","seriesA","seriesB","seriesC"],"defaultOwningFunctions":["Finance"],"stageRelevance":{"preSeed":"core","seed":"core","seriesA":"core","seriesB":"core","seriesC":"core"},"definitionSource":{"tier":"published","sourceName":"NVCA Model Legal Documents (2024 revision)","sourceUrl":"https://nvca.org/model-legal-documents/","sectionRef":"Series A Charter — Original Issue Price","publicationDate":"2024-01-01","attributionNotice":null},"formula":"pre_money_valuation = post_money_valuation − total_round_size. Per NVCA Model Documents convention. Effective pre-money after SAFE/note conversion can be lower than headline — surface both when convertibles are material.","whyItMatters":"Sets the price for the round. Drives `founder_dilution`, the option-pool top-up math, and the precedent for the next round (down-rounds are punishing to recover from).","interpretationGuidance":"Compare to stage-relative ranges from quarterly Carta / PitchBook reports (e.g. seed median has moved $12–18M post-money in 2024–2025). A pre-money below stage median typically signals either harsher terms or a strategic discount; above stage median demands real metric backing.","relatedKpiIds":["fundraising.post_money_valuation","fundraising.total_round_size","fundraising.founder_dilution","fundraising.convertible_outstanding"]},{"rogueId":"fundraising.total_round_size","slug":"total_round_size","domain":"fundraising","defaultLabel":"Total Round Size","description":"Total new capital being raised in the current round across all participants — the lead, follow-on investors, employee/strategic allocations, and any side-letter pieces. This is the figure that goes into the post-money math. Common pitfall: companies sometimes confuse `total_round_size` with `target_raise` — the round size is final and used in valuation math, while the target is what management is aiming for and can move during the raise. Boards should expect a specific breakdown by investor when this number is reported.","fieldType":"currency","unit":null,"maturity":"general","suggestedForStages":["preSeed","seed","seriesA","seriesB","seriesC"],"defaultOwningFunctions":["Finance"],"stageRelevance":{"preSeed":"core","seed":"core","seriesA":"core","seriesB":"core","seriesC":"core"},"definitionSource":{"tier":"published","sourceName":"NVCA Model Legal Documents (2024 revision)","sourceUrl":"https://nvca.org/model-legal-documents/","sectionRef":"Series A Stock Purchase Agreement — Aggregate Investment","publicationDate":"2024-01-01","attributionNotice":null},"formula":"Sum of all new-money allocations in the round (lead + follow-on + strategic + employee + side letters). Distinct from `target_raise` (intent) and `committed_amount` (in-progress signal).","whyItMatters":"Determines the round's post-money valuation and dilution math. Also signals investor concentration risk — a round with 80% from one investor differs structurally from a round with 5 equal participants.","interpretationGuidance":"Round size noticeably below target typically signals investor demand weakness (consider repricing or scope cut). Round size meaningfully above target signals oversubscription — a healthy signal but raises governance questions on how allocations are decided.","relatedKpiIds":["fundraising.target_raise","fundraising.committed_amount","fundraising.pre_money_valuation","fundraising.post_money_valuation","fundraising.founder_dilution"]},{"rogueId":"hr.arr_per_fte","slug":"arr_per_fte","domain":"hr","defaultLabel":"ARR per FTE","description":"Annual recurring revenue per full-time equivalent employee","fieldType":"currency","unit":null,"maturity":"general","suggestedForStages":["seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["HR","Finance"],"stageRelevance":{"seriesA":"core","seriesB":"core","seriesC":"core","public":"core"},"definitionSource":{"tier":"published","sourceName":"SaaS Capital Annual Survey 2025 (14th Annual)","sourceUrl":"https://www.saas-capital.com/blog-posts/revenue-per-employee-benchmarks-for-private-saas-companies/","sectionRef":"Revenue per Employee","publicationDate":"2025-06-01","attributionNotice":null},"benchmark":{"p25":100000,"median":130000,"p75":175000,"unit":"$","sourceName":"SaaS Capital Annual Survey 2025 (14th Annual)","sourceYear":"2025","higherIsBetter":true},"formula":"ARR per FTE = `sales.arr` / `hr.total_headcount` (or FTE-equivalent including contractor adjustment from `hr.fte_metrics`). Document the denominator convention in board materials. Per SaaS Capital Annual Survey 2025 methodology (Revenue per Employee).","whyItMatters":"Investors use this as a quick scalability and operating-leverage proxy — companies with higher ARR/FTE at a given scale typically command premium multiples. Internally, the metric anchors hiring-plan discipline: does each net new FTE earn its keep?","interpretationGuidance":"SaaS Capital Annual Survey 2025 (§Revenue per Employee) reports private SaaS medians clustering in the $150K–$250K range, with top quartile $250K+ and bottom quartile under $150K (verify exact figures against the cited report — distributions vary by ARR band). Sub-$100K sustained at Series B+ is a board-level efficiency conversation. Reads should be paired with stage and growth rate — high-growth-stage companies tolerate lower ratios for a window in exchange for growth.","relatedKpiIds":["sales.arr","hr.total_headcount","hr.fte_metrics","hr.payroll_run_rate","operations.rule_of_40"]},{"rogueId":"hr.avg_days_to_fill","slug":"avg_days_to_fill","domain":"hr","defaultLabel":"Average Days to Fill","description":"Mean time from job opening to accepted offer — hiring velocity indicator","fieldType":"number","unit":"days","maturity":"general","suggestedForStages":["seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["HR"],"stageRelevance":{"seriesA":"recommended","seriesB":"recommended","seriesC":"recommended","public":"recommended"},"definitionSource":{"tier":"published","sourceName":"SHRM Talent Acquisition Benchmarking Report","sourceUrl":"https://www.shrm.org/topics-tools/research/talent-acquisition-benchmarking-report","sectionRef":"Time-to-Fill","publicationDate":"2023-01-01","attributionNotice":null},"formula":"Average Days to Fill = Σ(offer-accepted-date − requisition-opened-date) / count of requisitions filled in the period. Convention: time-to-fill per SHRM Talent Acquisition Benchmarking Report — req-opened to offer-accepted, not first-applicant to offer-accepted.","whyItMatters":"A stretching time-to-fill is one of the earliest leading indicators of either comp-band misfit, role-spec creep, or recruiter capacity exhaustion. Combined with `hr.open_positions`, it projects when promised capacity actually arrives.","interpretationGuidance":"SHRM Talent Acquisition Benchmarking Report typically reports cross-industry medians around 40–45 days time-to-fill, with technical roles (engineering, data) often longer (60–90+ days). Verify against the most recent SHRM report for the exact figure. A sustained increase of >20% with no role-mix change typically signals a recruiting-pipeline issue (industry folk-wisdom, not citation-grade).","relatedKpiIds":["hr.open_positions","hr.hiring_plan","hr.new_hires","hr.key_openings","hr.key_hires"]},{"rogueId":"hr.involuntary_turnover_rate","slug":"involuntary_turnover_rate","domain":"hr","defaultLabel":"Involuntary Turnover Rate","description":"Percentage of employees terminated by the company — performance management indicator","fieldType":"percentage","unit":"%","maturity":"general","suggestedForStages":["seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["HR"],"stageRelevance":{"seriesA":"recommended","seriesB":"recommended","seriesC":"recommended","public":"recommended"},"definitionSource":{"tier":"published","sourceName":"Mercer US Turnover Survey 2025","sourceUrl":"https://www.imercer.com/articleinsights/workforce-turnover-trends","sectionRef":"Involuntary Turnover","publicationDate":"2025-03-01","attributionNotice":null},"formula":"Involuntary Turnover Rate (annualized) = (Terminations in period / Average Headcount in period) × (12 / months in period) × 100. Convention: exclude announced RIF events from the steady-state series; report them separately with headcount delta. Per Mercer US Turnover Survey methodology.","whyItMatters":"A read on performance-management cadence and any active restructuring. Sustained near-zero raises questions about management discipline; sustained-elevated raises questions about hiring quality or strategy thrash.","interpretationGuidance":"US all-industry total turnover historically clusters in the 18–25% annualized range per Mercer US Turnover Survey 2025 (§Total Turnover); involuntary typically represents 4–8% of that total (verify exact splits against the cited report — distributions vary by industry). Companies with very low involuntary rates (<2% annualized) often have buried under-performers; companies above ~8% steady-state typically have a hiring or onboarding-quality issue (industry folk-wisdom on the upper bound, not citation-grade).","relatedKpiIds":["hr.terminations","hr.performance_watch_count","hr.voluntary_turnover_rate","hr.talent_challenges"]},{"rogueId":"hr.voluntary_turnover_rate","slug":"voluntary_turnover_rate","domain":"hr","defaultLabel":"Voluntary Turnover Rate","description":"Annualized voluntary exits as a percentage of total headcount","fieldType":"percentage","unit":"%","maturity":"general","suggestedForStages":["seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["HR"],"stageRelevance":{"seriesA":"core","seriesB":"core","seriesC":"core","public":"core"},"definitionSource":{"tier":"published","sourceName":"Mercer US Turnover Survey 2025","sourceUrl":"https://www.imercer.com/articleinsights/workforce-turnover-trends","sectionRef":"Voluntary Turnover","publicationDate":"2025-03-01","attributionNotice":null},"benchmark":{"p25":7,"median":11,"p75":17,"unit":"%","sourceName":"Mercer US Turnover Survey 2025","sourceYear":"2025","higherIsBetter":false},"formula":"Voluntary Turnover Rate (annualized) = (Voluntary Exits in period / Average Headcount in period) × (12 / months in period) × 100. Average headcount = (start headcount + end headcount) / 2 is the simplest acceptable convention; (Σ daily headcount / days in period) is more precise. Per Mercer US Turnover Survey methodology.","whyItMatters":"The canonical retention KPI investors and boards benchmark against. Tracks the cost of churn — every voluntary exit triggers a replacement-cost cycle (recruiting + onboarding + ramp), commonly estimated at 0.5–2× the role's annual salary depending on level (industry folk-wisdom, not citation-grade).","interpretationGuidance":"US all-industry voluntary turnover is typically 13–17% annualized per Mercer US Turnover Survey 2025 (§Voluntary Turnover). Tech sector typically runs higher than the all-industry average; engineering and sales roles run highest within tech. Sustained voluntary turnover above ~20% annualized at any stage is a board-action trigger; sustained sub-5% can indicate under-performance management (managers not exiting B-players). Compare trailing-12-month rates, not quarterly snapshots.","relatedKpiIds":["hr.voluntary_exits","hr.involuntary_turnover_rate","hr.at_risk_count","hr.retention_initiatives","hr.talent_challenges"]},{"rogueId":"operations.rule_of_40","slug":"rule_of_40","domain":"operations","defaultLabel":"Rule of 40","description":"Sum of revenue growth rate and profit margin — healthy SaaS typically exceeds 40%","fieldType":"percentage","unit":"%","maturity":"general","suggestedForStages":["seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["Finance"],"stageRelevance":{"seriesA":"core","seriesB":"core","seriesC":"core","public":"core"},"definitionSource":{"tier":"published","sourceName":"SaaS Metrics Standards Board","sourceUrl":"https://www.saasmetricsboard.com/rule-of-40","sectionRef":"Rule of 40","publicationDate":"2023-01-01","attributionNotice":"Metric definitions reference standards published by the SaaS Metrics Standards Board (saasmetricsboard.com). imboard is not affiliated with, endorsed by, or a member of SMSB."},"benchmark":{"p25":-4,"median":15,"p75":31,"unit":"%","sourceName":"KBCM/Sapphire SaaS Survey 2024 (15th Annual)","sourceYear":"2024","higherIsBetter":true},"formula":"Rule of 40 = revenue_growth_rate (%) + profitability_margin (%). Per SMSB, `revenue_growth_rate` is typically YoY ARR or revenue growth; `profitability_margin` is typically EBITDA margin or FCF margin (disclose which). Both inputs are percentages — the output is also a percentage and can be negative when negative margin overwhelms growth.","whyItMatters":"Single-number readout of the growth-vs-burn tradeoff. Lets the board compare a high-growth / high-burn company to a slow-growth / profitable one on one axis, and surfaces unhealthy growth (high growth paid for with margin much worse than negative growth-rate offset).","interpretationGuidance":"Per the rule as originally framed by Brad Feld (2015) and the SaaS Metrics Standards Board, a score at or above 40% is the canonical \"healthy\" threshold for growth-stage SaaS; below 40% signals either growth or margin is under-delivering. Finer stratifications often cited (>50% strong, >60% best-in-class) are industry folk-wisdom, not citation-grade. Always disclose which profitability proxy is used — comparing an EBITDA-margin Rule of 40 to an FCF-margin Rule of 40 is apples-to-oranges and a frequent board-deck error.","relatedKpiIds":["sales.growth_rate_yoy","sales.gross_margin","finance.net_burn_rate","finance.runway_months"]},{"rogueId":"product.rd_monthly_spend","slug":"rd_monthly_spend","domain":"product","defaultLabel":"R&D Monthly Spend","description":"Total monthly spending on research and development","fieldType":"currency","unit":"/month","maturity":"general","suggestedForStages":["seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["R&D","Finance"],"stageRelevance":{"seriesA":"core","seriesB":"core","seriesC":"core","public":"core"},"definitionSource":{"tier":"published","sourceName":"KBCM/Sapphire SaaS Survey 2024 (15th Annual)","sourceUrl":"https://www.cfodesk.co.il/wp-content/uploads/2024/10/2024_kbcm_sapphire_saas_survey.pdf","sectionRef":"R&D as % of Revenue (capital-allocation section)","publicationDate":"2024-09-01","attributionNotice":null},"formula":"Sum of fully-loaded R&D-team payroll + benefits + allocated stock-comp + R&D-dedicated infrastructure + R&D tooling + R&D vendor spend, expressed as a monthly figure. Different from GAAP R&D expense (which capitalizes some software development costs); footnote the convention.","whyItMatters":"Largest single line of operating spend at most growth-stage SaaS companies — the input that `rd_efficiency` converts into revenue. The board reads this to gauge whether the company is over- or under-investing in product velocity relative to revenue ramp.","interpretationGuidance":"Compare R&D spend to revenue (or ARR run-rate) to derive R&D-as-% of revenue. Per the KBCM/Sapphire SaaS Survey (latest annual edition — see capital-allocation section), median R&D-as-% of revenue runs ~25–35% at early-growth SaaS and compresses with scale. Out-of-band (e.g. 60%+ at a $20M ARR company) usually signals either heavy platform-investment cycles or under-monetization — flag for context. Always pull the current KBCM/Sapphire edition rather than relying on a memorized range.","relatedKpiIds":["product.rd_efficiency","product.total_engineers","product.innovation_capacity_pct","sales.arr","finance.net_burn_rate"]},{"rogueId":"sales.arr","slug":"arr","domain":"sales","defaultLabel":"ARR","description":"Annual Recurring Revenue — the value of recurring revenue normalized to one year","fieldType":"currency","unit":null,"maturity":"general","suggestedForStages":["preSeed","seed","seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["Finance","Sales"],"stageRelevance":{"preSeed":"core","seed":"core","seriesA":"core","seriesB":"core","seriesC":"core","public":"core"},"definitionSource":{"tier":"published","sourceName":"SaaS Metrics Standards Board","sourceUrl":"https://www.saasmetricsboard.com/annual-recurring-revenue","sectionRef":"ARR","publicationDate":"2023-01-01","attributionNotice":"Metric definitions reference standards published by the SaaS Metrics Standards Board (saasmetricsboard.com). imboard is not affiliated with, endorsed by, or a member of SMSB."},"formula":"ARR = Sum of annualized value of all active recurring subscription contracts at period close. Per SMSB: includes only the recurring portion of contracts that are live (delivered / in production). Excludes one-time fees, professional services, and usage that is not contractually committed. For multi-year contracts, ARR is the contract value divided by the term in years.","whyItMatters":"Headline operating number that every other SaaS metric calibrates against — growth rate, efficiency ratios (CAC ratio, magic number, Rule of 40), retention math (NRR, GRR), and valuation multiples all read off ARR. Boards use the period-over-period ARR delta as the first-pass health check for the business.","interpretationGuidance":"Per KBCM/Sapphire SaaS Survey 2024 §Growth Rate, public-SaaS-comparable private companies in the $5–25M ARR band typically grow ARR 40–60% YoY, falling toward 20–30% by $100M+ ARR; well-below-band growth at any ARR scale is the first thing a board interrogates. Always read ARR alongside Net New ARR (sales.new_business + sales.expansion − sales.churn_arr − sales.downgrades) — flat ARR can mask churn offset by upsell.","relatedKpiIds":["sales.carr","sales.new_business","sales.expansion","sales.churn_arr","sales.downgrades","sales.growth_rate_yoy","sales.starting_arr","customers.net_revenue_retention","operations.rule_of_40"]},{"rogueId":"sales.avg_contract_value","slug":"avg_contract_value","domain":"sales","defaultLabel":"Average Contract Value","description":"Average annual contract value for new customers signed in the period","fieldType":"currency","unit":null,"maturity":"general","suggestedForStages":["seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["Sales"],"stageRelevance":{"seriesA":"core","seriesB":"core","seriesC":"core","public":"core"},"definitionSource":{"tier":"published","sourceName":"KBCM/Sapphire SaaS Survey 2024 (15th Annual)","sourceUrl":"https://www.cfodesk.co.il/wp-content/uploads/2024/10/2024_kbcm_sapphire_saas_survey.pdf","sectionRef":"Average Contract Value","publicationDate":"2024-09-01","attributionNotice":null},"benchmark":{"p25":25000,"median":62000,"p75":100000,"unit":"$","sourceName":"KBCM/Sapphire SaaS Survey 2024 (15th Annual)","sourceYear":"2024","higherIsBetter":true},"formula":"Average Contract Value = New Business ARR / New Customers Added (for the same period). For multi-year contracts, use the annualized ACV (TCV / contract term in years), not Total Contract Value (TCV). Restrict to new-logo deals to keep the trend interpretable; track Expansion ACV separately if material.","whyItMatters":"Sets the cost ceiling for the sales motion — at $5k ACV the company cannot afford a field sales team; at $250k ACV inside sales alone usually leaves money on the table. The board uses ACV trend to validate up-market or down-market strategy bets.","interpretationGuidance":"Per KBCM/Sapphire SaaS Survey 2024 §Average Contract Value, segmentation bands: SMB ≤ $5k, Mid-Market $5k–$50k, Enterprise > $50k (often $100k+ for true enterprise). ACV doubling over four quarters is a clear up-market motion — make sure CAC and sales-cycle changes are reflected in plan. Flat ACV with rising volume = scaling the existing motion; rising ACV with flat volume = a deliberate up-market bet that needs explicit board buy-in.","relatedKpiIds":["sales.new_business","sales.new_customers_added","sales.median_deal_size","sales.average_deal_size","sales.avg_sales_cycle_days","sales.cac"]},{"rogueId":"sales.blended_cac_ratio","slug":"blended_cac_ratio","domain":"sales","defaultLabel":"Blended CAC Ratio","description":"Fully-loaded S&M expense per dollar of new CARR, blending new-customer and expansion CARR","fieldType":"number","unit":null,"maturity":"general","suggestedForStages":["seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["Sales","Finance"],"stageRelevance":{"seriesA":"recommended","seriesB":"recommended","seriesC":"recommended","public":"recommended"},"definitionSource":{"tier":"published","sourceName":"SaaS Metrics Standards Board","sourceUrl":"https://www.saasmetricsboard.com/blended-cac-ratio","sectionRef":"Blended CAC Ratio","publicationDate":"2023-01-01","attributionNotice":"Metric definitions reference standards published by the SaaS Metrics Standards Board (saasmetricsboard.com). imboard is not affiliated with, endorsed by, or a member of SMSB."},"formula":"Blended CAC Ratio = Total S&M Spend (period) / (New CARR + Expansion CARR generated in period). Per SMSB §Blended CAC Ratio: spend uses the same fully-loaded definition as CAC; CARR-based denominator (not ARR) reflects committed contract value at the point of sign.","whyItMatters":"The portfolio-level efficiency number — one ratio that summarizes the full S&M engine. Boards use it to track quarter-over-quarter efficiency improvement as the motion matures.","interpretationGuidance":"Per SMSB convention, a Blended CAC Ratio < 1.0 means the company is acquiring more contracted ARR than it spends on S&M — capital-efficient growth. 1.0–1.5 is acceptable while the motion is scaling; > 2.0 sustained signals either a motion or pricing problem. Always pair with the New and Expansion CAC Ratio split to localize the issue.","relatedKpiIds":["sales.new_cac_ratio","sales.expansion_cac_ratio","sales.cac","sales.cac_payback_period","sales.new_business","sales.expansion","sales.carr"]},{"rogueId":"sales.cac","slug":"cac","domain":"sales","defaultLabel":"Customer Acquisition Cost","description":"Fully-loaded sales and marketing expense incurred to acquire one new customer in the period","fieldType":"currency","unit":null,"maturity":"general","suggestedForStages":["seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["Sales","Finance"],"stageRelevance":{"seriesA":"core","seriesB":"core","seriesC":"core","public":"core"},"definitionSource":{"tier":"published","sourceName":"SaaS Metrics Standards Board","sourceUrl":"https://www.saasmetricsboard.com/customer-acquisition-cost","sectionRef":"CAC","publicationDate":"2023-01-01","attributionNotice":"Metric definitions reference standards published by the SaaS Metrics Standards Board (saasmetricsboard.com). imboard is not affiliated with, endorsed by, or a member of SMSB."},"formula":"CAC = Total fully-loaded S&M expense for the period / New Customers Added in the period. Per SMSB §CAC: numerator includes all S&M spend (compensation, benefits, programs, tooling, allocated overhead); denominator counts net-new logos only (not expansion deals).","whyItMatters":"The cost side of the customer-unit economics ledger — paired with ACV and gross margin, determines whether each customer is a profitable transaction over a reasonable horizon. Boards read CAC alongside payback period before debating S&M investment levels.","interpretationGuidance":"Absolute CAC values vary by ACV band — what matters is the ratio CAC / first-year-ARR (= New CAC Ratio) and CAC Payback. Per public SaaS comps, healthy CAC payback is < 24 months gross-margin-adjusted; > 36 months usually means the acquisition motion is either too expensive or the contract terms too short.","relatedKpiIds":["sales.cac_payback_period","sales.new_cac_ratio","sales.blended_cac_ratio","sales.expansion_cac_ratio","sales.new_business","sales.new_customers_added"]},{"rogueId":"sales.cac_payback_period","slug":"cac_payback_period","domain":"sales","defaultLabel":"CAC Payback Period","description":"Months required for gross profit from new-customer ARR to recover the sales and marketing spend that acquired them","fieldType":"number","unit":"months","maturity":"general","suggestedForStages":["seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["Sales","Finance"],"stageRelevance":{"seriesA":"core","seriesB":"core","seriesC":"core","public":"core"},"definitionSource":{"tier":"published","sourceName":"SaaS Metrics Standards Board","sourceUrl":"https://www.saasmetricsboard.com/cac-payback-period","sectionRef":"CAC Payback Period","publicationDate":"2023-01-01","attributionNotice":"Metric definitions reference standards published by the SaaS Metrics Standards Board (saasmetricsboard.com). imboard is not affiliated with, endorsed by, or a member of SMSB."},"formula":"CAC Payback (months) = CAC / (Monthly New ARR × Gross Margin %). Per SMSB §CAC Payback Period: numerator is fully-loaded CAC (same definition as the CAC line), denominator uses gross-margin-adjusted monthly new ARR so the metric is comparable across companies with different cost structures.","whyItMatters":"The decision-relevant single number for \"is the acquisition motion working\" — sub-24 months signals capital-efficient growth; > 36 months means each dollar of S&M is locking up cash for too long to justify scaling spend.","interpretationGuidance":"Per the SaaS-investor convention reflected in KBCM/Sapphire SaaS Survey 2024 benchmarking: < 24 months gross-margin-adjusted payback is healthy; 24–36 months is acceptable for early-stage / up-market motions; > 36 months requires either an explicit path to compress (motion change) or a strategic rationale (e.g. multi-year deferred-revenue contracts with strong retention).","relatedKpiIds":["sales.cac","sales.new_cac_ratio","sales.blended_cac_ratio","sales.gross_margin","sales.new_business","sales.arr"]},{"rogueId":"sales.carr","slug":"carr","domain":"sales","defaultLabel":"CARR","description":"Contracted Annual Recurring Revenue — recognized MRR × 12 plus contracted ARR not yet in production","fieldType":"currency","unit":null,"maturity":"general","suggestedForStages":["preSeed","seed","seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["Finance","Sales"],"stageRelevance":{"preSeed":"recommended","seed":"core","seriesA":"core","seriesB":"core","seriesC":"core","public":"core"},"definitionSource":{"tier":"published","sourceName":"SaaS Metrics Standards Board","sourceUrl":"https://www.saasmetricsboard.com/contracted-annual-recurring-revenue","sectionRef":"CARR","publicationDate":"2023-01-01","attributionNotice":"Metric definitions reference standards published by the SaaS Metrics Standards Board (saasmetricsboard.com). imboard is not affiliated with, endorsed by, or a member of SMSB."},"formula":"CARR = ARR (live, recognized contracts annualized) + Annualized value of signed contracts not yet in production. Per SMSB §CARR: requires a signed contract; excludes verbal commitments, letters of intent, and pipeline. The (CARR − ARR) gap = in-flight ARR awaiting go-live.","whyItMatters":"A leading indicator that ARR alone misses — if CARR is growing faster than ARR, an implementation backlog is building and ARR will accelerate as those contracts go live. Boards use the CARR-to-ARR ratio to interrogate the implementation engine.","interpretationGuidance":"A CARR / ARR ratio of 1.00 means everything signed is already live (no implementation backlog); 1.10–1.20 is typical for enterprise SaaS with multi-month implementation timelines; > 1.30 may signal either an implementation bottleneck (operational risk) or a deliberate backlog-build before a known activation event (intentional). Always cross-reference with the implementation team's capacity plan.","relatedKpiIds":["sales.arr","sales.new_business","sales.blended_cac_ratio","sales.new_cac_ratio","sales.bookings_backlog_total"]},{"rogueId":"sales.expansion_cac_ratio","slug":"expansion_cac_ratio","domain":"sales","defaultLabel":"Expansion CAC Ratio","description":"Fully-loaded S&M and Customer Success expense allocated to expansion per dollar of expansion CARR","fieldType":"number","unit":null,"maturity":"general","suggestedForStages":["seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["Sales","Finance"],"stageRelevance":{"seriesA":"recommended","seriesB":"recommended","seriesC":"recommended","public":"recommended"},"definitionSource":{"tier":"published","sourceName":"SaaS Metrics Standards Board","sourceUrl":"https://www.saasmetricsboard.com/expansion-cac-ratio","sectionRef":"Expansion CAC Ratio","publicationDate":"2023-01-01","attributionNotice":"Metric definitions reference standards published by the SaaS Metrics Standards Board (saasmetricsboard.com). imboard is not affiliated with, endorsed by, or a member of SMSB."},"formula":"Expansion CAC Ratio = (S&M + CS spend allocated to expansion in period) / (Expansion CARR generated in period). Per SMSB §Expansion CAC Ratio: allocation rule for cross-functional comp (typically split by quota share of OTE) must be documented and consistent.","whyItMatters":"Validates the financial logic of \"expansion is cheaper than acquisition\" — when this is healthy, the company should bias growth investment toward post-sale; when it inverts (Expansion CAC ≥ New CAC), the expansion motion is broken and acquisition is the only available lever.","interpretationGuidance":"Per SMSB convention, healthy Expansion CAC Ratio is typically 3–5× cheaper than New CAC Ratio — i.e. 0.2–0.5 when New CAC Ratio is ~1.5. Expansion CAC Ratio > 1.0 is a yellow flag (expansion costs as much as it earns); inversion vs New CAC Ratio is a red flag warranting a CS / sales-team org review.","relatedKpiIds":["sales.blended_cac_ratio","sales.new_cac_ratio","sales.expansion","customers.net_revenue_retention","sales.carr"]},{"rogueId":"sales.gross_margin","slug":"gross_margin","domain":"sales","defaultLabel":"Gross Margin","description":"Revenue minus cost of goods sold, expressed as a percentage of revenue","fieldType":"percentage","unit":"%","maturity":"general","suggestedForStages":["seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["Finance"],"stageRelevance":{"seriesA":"core","seriesB":"core","seriesC":"core","public":"core"},"definitionSource":{"tier":"published","sourceName":"KBCM/Sapphire SaaS Survey 2024 (15th Annual)","sourceUrl":"https://www.cfodesk.co.il/wp-content/uploads/2024/10/2024_kbcm_sapphire_saas_survey.pdf","sectionRef":"Gross Margin","publicationDate":"2024-09-01","attributionNotice":null},"benchmark":{"p25":65,"median":72,"p75":81,"unit":"%","sourceName":"KBCM/Sapphire SaaS Survey 2024 (15th Annual)","sourceYear":"2024","higherIsBetter":true},"formula":"Gross Margin = ((Recognized Revenue − COGS) / Recognized Revenue) × 100. COGS for a SaaS business: cloud / hosting infrastructure, third-party data and APIs called for delivery, customer support, customer success cost-of-service, and any directly-attributable delivery personnel. Excludes R&D, S&M, and G&A.","whyItMatters":"Caps every long-term efficiency metric — Rule of 40, LTV/CAC, CAC payback all run off contribution margin which derives from gross margin. Board uses it to verify the unit economics are real before debating S&M investment levels.","interpretationGuidance":"Per KBCM/Sapphire SaaS Survey 2024 §Gross Margin, healthy SaaS gross margin is 70–80%; > 80% is best-in-class infrastructure leverage; < 65% usually signals heavy services revenue or inefficient COGS (often customer-success scaling linearly with customer count). Sub-70% companies must show a credible path to 70%+ by next funding milestone or face valuation pressure.","relatedKpiIds":["sales.total_revenue","sales.arr","sales.cac_payback_period","operations.rule_of_40","sales.growth_rate_yoy"]},{"rogueId":"sales.growth_rate_yoy","slug":"growth_rate_yoy","domain":"sales","defaultLabel":"Growth Rate (YoY)","description":"Year-over-year growth rate comparing current period to same period last year","fieldType":"percentage","unit":"%","maturity":"general","suggestedForStages":["seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["Finance","Sales"],"stageRelevance":{"seriesA":"core","seriesB":"core","seriesC":"core","public":"core"},"definitionSource":{"tier":"published","sourceName":"KBCM/Sapphire SaaS Survey 2024 (15th Annual)","sourceUrl":"https://www.cfodesk.co.il/wp-content/uploads/2024/10/2024_kbcm_sapphire_saas_survey.pdf","sectionRef":"YoY ARR Growth","publicationDate":"2024-09-01","attributionNotice":null},"benchmark":{"p25":12,"median":19,"p75":27,"unit":"%","sourceName":"KBCM/Sapphire SaaS Survey 2024 (15th Annual)","sourceYear":"2024","higherIsBetter":true},"formula":"YoY Growth Rate = ((ARR at period close − ARR 12 months prior) / ARR 12 months prior) × 100. State the underlying metric explicitly (ARR vs Recognized Revenue) — they diverge meaningfully for sub-scale businesses. For quarters, use end-of-quarter ARR vs end-of-same-quarter-prior-year.","whyItMatters":"Direct input to public-comparable valuation multiples (EV / NTM ARR multiples are sliced by growth band). Boards use it to triangulate stage-appropriate pace and to flag deceleration early.","interpretationGuidance":"Per KBCM/Sapphire SaaS Survey 2024 §YoY ARR Growth, median private-SaaS growth bands by ARR scale: $5–10M ARR median ~55–70%, $10–25M ARR ~40–55%, $25–50M ARR ~35–45%, $50M+ ARR ~25–35%. Growth decelerating > 30 percentage points YoY at any ARR scale is the most actionable board warning signal — usually requires either pipeline-coverage diagnosis or product-investment reallocation.","relatedKpiIds":["sales.arr","sales.new_business","sales.expansion","sales.churn_arr","operations.rule_of_40","sales.gross_margin"]},{"rogueId":"sales.new_cac_ratio","slug":"new_cac_ratio","domain":"sales","defaultLabel":"New CAC Ratio","description":"Fully-loaded S&M expense allocated to customer acquisition per dollar of new-customer CARR","fieldType":"number","unit":null,"maturity":"general","suggestedForStages":["seriesA","seriesB","seriesC","public"],"defaultOwningFunctions":["Sales","Finance"],"stageRelevance":{"seriesA":"recommended","seriesB":"recommended","seriesC":"recommended","public":"recommended"},"definitionSource":{"tier":"published","sourceName":"SaaS Metrics Standards Board","sourceUrl":"https://www.saasmetricsboard.com/new-cac-ratio","sectionRef":"New CAC Ratio","publicationDate":"2023-01-01","attributionNotice":"Metric definitions reference standards published by the SaaS Metrics Standards Board (saasmetricsboard.com). imboard is not affiliated with, endorsed by, or a member of SMSB."},"formula":"New CAC Ratio = (S&M spend allocated to new-customer acquisition in period) / (New-customer CARR generated in period). Per SMSB §New CAC Ratio: spend allocation must follow a documented rule (e.g. fraction of S&M headcount tied to new-business quota) applied consistently.","whyItMatters":"Isolates the new-logo engine — when blended CAC Ratio is moving, this is the first line of split-out diagnosis. Boards use it to evaluate whether to invest more in acquisition or shift weight toward expansion.","interpretationGuidance":"Per SMSB convention, New CAC Ratio of 1.0–2.0 is the typical mid-stage SaaS band; > 2.5 sustained signals the new-logo motion is structurally expensive (often a fit problem with target segment). Should be ≥ Blended CAC Ratio (new-logo is always more expensive than expansion); if New CAC Ratio < Blended, the spend allocation between new and expansion is mis-tagged.","relatedKpiIds":["sales.blended_cac_ratio","sales.expansion_cac_ratio","sales.cac","sales.cac_payback_period","sales.new_business","sales.carr"]}]