At what stage should SaaS companies start segmenting their metrics? In episode #320, Ben Murray breaks down when and how to segment your SaaS metrics — from revenue segmentation to go-to-market efficiency metrics — so your data actually reflects how your business operates.

Ben explains how segmentation becomes essential as you scale past $10M ARR or diversify product lines (for example, enterprise vs. SMB or PLG vs. sales-led models). He also shares how finance and ops teams can collaborate to align their chart of accounts, cost centers, and customer metadata to get meaningful insights that improve valuation and decision-making.

What You’ll Learn

• When to start segmenting SaaS metrics (typically around $10M ARR, but earlier for multi-product businesses).
• The difference between revenue segmentation and financial metric segmentation.
• How to align your chart of accounts and cost centers for accurate CAC, CAC payback, and LTV:CAC by segment.
• Why aggregate CAC or payback metrics are misleading without segmentation.
• The importance of metadata consistency between systems (HubSpot, CRM, accounting, billing).
• How clean segmentation improves your company valuation and investor confidence during fundraising or exit.

Why It Matters

• For CFOs & Finance Teams: Segmentation reveals where efficiency and retention differ by product line or customer cohort.
• For Founders & Operators: Understanding metrics by segment helps you scale profitably and target the right growth motion.
• For Investors: Segmented financial reporting and SaaS metrics reduce uncertainty and strengthen valuation models.
• For Accounting Leaders: Accurate cost allocation enables better financial modeling and Board reporting.

Resources Mentioned

The SaaS Metrics Foundation Course: https://www.thesaasacademy.com/#section-1744932157830

Quote from Ben

“You can’t say your CAC payback is 12 months when it combines enterprise and SMB customers — that data is worthless.”

Does Net Revenue Retention (NRR) really move your company’s valuation multiple? Absolutely — and the difference can be worth tens of millions of dollars.

In episode #319, Ben Murray breaks down new data from Meritech Capital and Benchmarkit.ai to show exactly how changes in your NRR directly impact your revenue multiple and SaaS valuation.

You’ll also learn why ACV segmentation matters when benchmarking NRR and Gross Revenue Retention (GRR), and how top-performing SaaS companies are using retention metrics to drive investor confidence and higher valuations.

What You’ll Learn

• The link between NRR and valuation multiples — a 7-point jump in NRR can double your multiple.
• How a $5M ARR company can see a $25M valuation swing from retention improvements.
• The latest SaaS benchmarks from Ray Rike (Benchmarkit.ai) for NRR and GRR.
• Why you must benchmark NRR by ACV, not company size or industry averages
• Why investors prioritize retention when evaluating durability, efficiency, and predictability of revenue.

Why It Matters

• For SaaS Founders: NRR improvements can directly increase your exit or fundraising valuation.
• For CFOs & Finance Leaders: Retention trends reveal the sustainability of your revenue model and influence your ARR growth forecast.
• For Investors: High NRR signals strong customer economics, pricing power, and efficient growth.
• For Operators: Knowing your NRR by ACV cohort allows smarter resource allocation and customer success planning.

Resources Mentioned

The SaaS CFO Academy: https://www.thesaasacademy.com/#section-1744932157830

Quote from Ben

“A 5X difference in valuation multiple can come down to just a few points in your net revenue retention. That’s the power of strong SaaS metrics.”

Even small errors in your MRR schedule can have a massive impact on your retention metrics, and in due diligence, that can destroy investor confidence.

In episode #318, Ben Murray explains why gaps in your monthly recurring revenue (MRR) schedule create inaccurate gross revenue retention (GRR) and net revenue retention (NRR) results — and how poor invoicing and renewal practices are often the root cause.

You’ll learn how to identify, fix, and prevent these gaps so your SaaS financial reporting and valuation metrics remain accurate and investor-ready.

What You’ll Learn

✅ What causes gaps in your MRR schedule (and how to spot them).

✅ How MRR gaps distort your retention, expansion, and churn calculations.

✅ Why these data issues raise red flags in due diligence.

✅ How to align renewal dates, contracts, and invoicing to eliminate data breaks.

✅ What a clean, accurate MRR waterfall should look like for SaaS and AI companies.

✅ Why you need at least three years of clean retention data before a fundraise or exit.

Why It Matters

• For CFOs & Finance Teams: Gaps cause misleading GRR/NRR trends that erode trust in your data.
• For Founders & CEOs: Bad MRR data can hurt company valuation and slow down fundraising or acquisition.
• For Investors: Clean MRR schedules provide transparency into predictable revenue and retention strength.
• For Accountants: Accurate MRR waterfalls enable stronger financial modeling and forecasting.

Resources Mentioned

SaaS Metrics Foundation Course: https://www.thesaasacademy.com/the-saas-metrics-foundation

Quote from Ben

“If there are gaps in your MRR schedule, your retention story falls apart — and investors will notice.”

To build a world-class FP&A process in a SaaS or AI business, you need more than great dashboards—you need clean, reliable data from the right sources.

In episode #317, Ben Murray shares the four foundational SaaS finance data sources that power accurate forecasts, meaningful metrics, and board-ready financial models. Drawing on his experience in FP&A across airlines and software, Ben explains how to integrate data from accounting, CRM, subscription management, and HR systems to create a trustworthy SaaS P&L and streamline financial reporting.

This is the go-to framework for any finance leader, CFO, or operator seeking to enhance their financial systems and forecasting accuracy.

What You’ll Learn

• The four essential SaaS finance data sources for great FP&A.
• How each data source powers financial forecasting, SaaS metrics, and Board reporting.
• Why poor accounting structure creates “data debt” that hurts accuracy and slows decision-making.
• How to link bookings data to go-to-market efficiency metrics like CAC, LTV/CAC, and CAC payback.
• Why accurate HR data improves unit economics and organizational efficiency analysis.

Why It Matters

• For FP&A Leaders: Build forecasts grounded in data integrity.
• For SaaS Founders: Understand Which Data Sources Drive Investor-Ready Reporting.
• For Investors: Confidence in a company’s data architecture improves valuation and diligence outcomes.
• For CFOs: A solid finance foundation enables better strategic planning, cash flow forecasting, and profitability tracking.

📎 Resources Mentioned

The SaaS Academy: https://www.thesaasacademy.com/#section-1744932157830

Quote from Ben

“Without clean financial, bookings, revenue, and HR data, your FP&A process can’t deliver the insights your Board expects.”

Is renewal rate just another way of saying retention? Not exactly. In episode #316, Ben Murray breaks down the difference between renewal rate and the classic retention metrics—gross revenue retention (GRR), net revenue retention (NRR), and customer/logo retention.

Ben explains why the renewal rate is the leading indicator of retention, especially when running annual or multi-year contracts, and why investors, private equity buyers, and your board will want to see this number alongside your standard SaaS metrics.

If you’re a SaaS or AI operator looking to better understand your unit economics and improve your company’s valuation, this episode will help you put renewal rate into context as part of your financial metrics toolkit.

🧠 What You’ll Learn

✅ The definition of renewal rate and how it differs from retention.

✅ How renewal rate acts as the leading edge of retention performance.

✅ Why renewal rate matters most for SaaS and AI companies with annual or multi-year contracts.

✅ How to track renewal rate by customer count and dollar value.

✅ Why renewal rate is increasingly scrutinized in due diligence and PE-backed exits.

✅ How renewal rate complements ARR growth, gross profit, and retention metrics.

📊 Why It Matters

• For Finance Teams: Renewal rate shows early signs of churn risk before it hits your GRR/NRR numbers.
• For Leaders: Renewal performance provides insight into customer satisfaction and product adoption.
• For Investors & Buyers: Renewal rate is a leading signal of predictable revenue and future valuation.
• For Boards: Adds confidence in forecasting ARR, revenue growth, and unit economics.

📎 Resources Mentioned

🎓 SaaS Metrics Academy
— Courses on SaaS P&L, retention, and financial strategy: https://www.thesaasacademy.com/#section-1744932157830

🧾 Quote from Ben

“Renewal rate is the tip of the iceberg. If customers keep renewing at a high rate, your retention story will follow."

Every Board, investor, and potential acquirer is asking the same question: How are AI initiatives driving revenue? In episode #315, Ben Murray shares insights from his research into public tech companies and how they’re defining and disclosing AI ARR (Annual Recurring Revenue).

Using Verint as a case study, Ben explains how companies are leveraging AI-driven ARR, tying it to measurable outcomes, and communicating adoption in a way that resonates with both Wall Street and buyers. You’ll also hear how these disclosures may have supported Verint’s recent multibillion-dollar acquisition by Thoma Bravo.

If you’re a SaaS or AI operator, this episode will help you define AI ARR, communicate adoption signals, and position your business model for higher valuation.

What You’ll Learn

• What AI ARR is and how to calculate it.
• Why public companies like Verint are breaking out AI ARR from total ARR.
• The mechanics: how finance teams identify AI-influenced products and SKUs.
• Quantitative + qualitative adoption signals (e.g., number of users leveraging AI features).
• Why AI ARR disclosures matter for investor metrics and exit valuations.
• How Thoma Bravo’s acquisition of Verint shows the value of communicating AI initiatives.

Why It Matters

• For SaaS & AI Leaders: Properly defining AI ARR helps show investors where new growth is coming from.
• For Finance Teams: Accurate reporting requires collaboration across accounting, product, and FP&A.
• For Investors: AI ARR signals measurable adoption and future revenue growth.
• For Valuation: Tying AI initiatives to financial outcomes increases credibility in fundraising and exit scenarios.

Resources Mentioned

Blog Post: How to Define AI ARR: https://www.thesaascfo.com/ai-arr-vs-saas-arr-how-to-define-and-calculate/

The SaaS Metrics Academy: https://www.thesaasacademy.com/

Quote from Ben

“Don’t just say you’re building AI into your product — show investors how much ARR it’s driving and what outcomes it’s creating.”

Many usage-based companies like Twilio don’t disclose ARR as their North Star metric. So, what do they track instead to communicate growth and efficiency to investors?

In episode #314, Ben Murray shares his research from 10-Q filings, press releases, and earnings calls to uncover the seven most common financial metrics that usage-based companies highlight. From revenue growth and gross margin improvements to AI adoption and RPO (Remaining Performance Obligations), you’ll learn what matters most to analysts, investors, and acquirers when ARR isn’t the headline.

This is a must-listen if you’re building a usage-based business model and want to understand how to position your company for valuation and fundraising success.

What You’ll Learn

• Why many usage-based companies don’t lead with ARR or MRR.
• The 7 key metrics
• How AI adoption is becoming a narrative driver in earnings calls.
• Why RPO is gaining importance as a measure of forward visibility and future revenue.

Why It Matters

• For Investors: These metrics provide confidence in growth and scalability, even without ARR disclosures.
• For Founders: Tracking and segmenting these numbers helps communicate the right story to Boards and potential buyers.
• For Valuation: Metrics like RPO and NRR are increasingly driving company valuations in usage-based models.
• For Finance Leaders: Understanding which financial systems and SaaS metrics to track ensures more effective reporting and better alignment with investors.

Resources Mentioned

The SaaS Metrics Academy: https://www.thesaasacademy.com/

Quote from Ben

“If usage-based companies aren’t tracking ARR, what are they tracking? The answer is seven key metrics that investors want to see — from gross margin to RPO.”

There are hundreds of SaaS metrics, but which ones truly matter for SaaS leaders who want to scale, raise capital, and maximize company valuation? In episode #313, Ben Murray breaks down the five essential metrics every SaaS executive must understand — whether you’re a founder, CFO, or operator.

From bookings to retention, gross profit, OpEx, and the ROSE efficiency metric, you’ll learn how to read your SaaS P&L like a top operator, and why these metrics are critical to driving durable growth, improving investor metrics, and strengthening your business model.

What You’ll Learn

• Bookings – Signed contracts for ARR commitments, the fuel of your revenue engine.
• Retention – Gross revenue retention, net revenue retention, and customer retention are the ultimate health checks for recurring revenue.
• Margins (Gross Profit) – Why accurate COGS vs. OpEx separation matters for forecasting, profitability, and valuation.
• OpEx Profile – How much you should invest in R&D, sales, marketing, and G&A as a percentage of revenue.
• ROSE Metric (Return on SaaS Employees) – A powerful measure of organizational efficiency and path to profitability, stronger than revenue per FTE.

Why These Metrics Matter

• Finance & Accounting: They form the backbone of your SaaS P&L and cash flow forecasting.
• Investor Metrics: Investors use these to evaluate efficiency, scalability, and risk.
• Valuation: Strong retention, margins, and efficiency drive higher SaaS valuations.
• Business Leaders: Understanding these numbers enables smarter decisions at both the departmental and company levels.

Resources Mentioned

Free Webinar – Deep dive into these five metrics, plus tips, frameworks, and pro insights: https://www.thesaasacademy.com/pl/2148701264

Quote from Ben

“Every SaaS leader doesn’t need to calculate these metrics themselves — but they must understand them. These numbers tell the story of your business.”