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.”

Oracle’s stock recently jumped 37% — and the driver wasn’t just revenue growth or earnings per share. The market reacted to one SaaS metric: RPO (Remaining Performance Obligations), which surged 359% year-over-year.

In episode #312, Ben Murray explains the RPO metric, how it’s calculated, and why investors are paying close attention to it. From Oracle’s $455B backlog to Snowflake’s disclosure practices, you’ll learn why this metric is becoming more important for both public and private SaaS companies.

If you want to improve your investor metrics and maximize your company valuation, RPO should be on your radar.

What You’ll Learn

• What RPO is (Remaining Performance Obligations) and how it’s calculated.
• Why RPO is a leading indicator of future revenue and business model stickiness.
• How Oracle’s massive RPO growth drove its stock surge.
• How public companies like Snowflake define and disclose RPO.
• Why private SaaS companies should start tracking RPO alongside ARR, MRR, and retention.
• How RPO supports investor confidence in fundraising and exit conversations.

Why It Matters for SaaS Operators & Investors

• Investor metrics such as RPO create visibility into future revenue streams.
• RPO growth signals stronger customer commitment and drives higher valuations.
• Private SaaS companies can use RPO as a complement to retention metrics when preparing for fundraising.

Resources Mentioned

📄 Blog Post: What is RPO? (Includes free template download): https://www.thesaascfo.com/understanding-remaining-performance-obligations-in-saas/

🎓 SaaS Metrics Course – Learn how to calculate and present SaaS metrics that matter to investors: https://www.thesaasacademy.com/the-saas-metrics-foundation-course-community-phased

Quote from Ben

“RPO is a SaaS metric that gives investors visibility into the future. If Oracle can move its stock with RPO, you should consider tracking it too.”

Disclaimer:
This discussion is for informational and educational purposes only. Nothing in this episode should be taken as financial advice or a recommendation to buy, sell, or hold any stock, including Oracle. Always do your own research and consult with a licensed financial advisor before making investment decisions.

Your SaaS COGS (Cost of Goods Sold) is one of the most important foundations in your SaaS P&L — and getting it wrong can distort your gross profit margins, forecasts, SaaS metrics, investor metrics, and ultimately your valuation. In this episode, Ben Murray breaks down exactly what belongs in SaaS COGS, how to handle multi-hat employees, and why clean financial reporting is critical for scaling.

If you’re a SaaS founder, CFO, or operator, episode #311 will help you properly structure your business model for accurate financial reporting and investor-ready transparency.

What You’ll Learn

• Departments to include in COGS: Tech support, professional services, managed services, customer success (non-sales), DevOps, hardware, and transactional costs.
• Why COGS must be fully burdened (wages, taxes, benefits, bonuses, travel, etc.).
• How to handle allocations when employees wear multiple hats (without overcomplicating your accounting).
• The role of transactional cost centers for usage-based or variable revenue models.
• Why accurate COGS = accurate gross profit, margins by revenue stream, and valuation metrics.
• The importance of following the matching principle under accrual accounting.

Why It Matters

• Finance & Accounting: Accurate COGS sets the foundation for reliable P&Ls and forecasts.
• Investor Metrics: Clean COGS helps investors and acquirers trust your financial systems and data.
• Valuation: Strong, transparent gross profit reporting increases confidence during fundraising or exit planning.
• Business Leaders: Knowing your true COGS drives better decision-making across your revenue streams.

Resources Mentioned

Blog Post: How to Structure Your SaaS P&L Correctly: https://www.thesaascfo.com/what-should-be-included-in-saas-cogs/

Academy Content: Deep dive into SaaS COGS, OPEX, and financial modeling for SaaS and AI companies: https://www.thesaasacademy.com/the-saas-metrics-foundation

Quote from Ben

“Your SaaS COGS must be fully burdened — labor, taxes, benefits, even pizza parties. That’s how you get accurate gross profit and investor-ready financials.”