AI and AI-Native companies are changing the software industry and the metrics to measure AI market momentum are still evolving.

During this weeks episode, our co-hosts Dave "CAC" Kellogg and Ray "Growth" Rike discuss a recent article on AI Metrics by Benedict Evans. AI measurements and metrics discussed include:

• Daily Active Users / Monthly Active Users (DAU/MAU)
• Tokens - what they are and how they are calculated
• Weekly User Retention

Dave and Ray take us on a stroll down "metrics memory lane" as they discuss the early days of the internet, and some of the metrics that were used in the early days, that evolved and changed as the use of the internet began to mature - some of those metrics included:

• Internet Hosts
• Hits
• Page Views
• Eyeballs

Lastly, the term Occam's Razor was introduced to discuss why sometimes the simplest metrics that require the lowest number of assumptions is a good place to start when initially measuring new things.

The Metrics Brothers are excited to expand their metrics-centric analysis and insights into the rapidly evolving world of AI, and specifically AI software and AI metrics!

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Figma is a web-based collaborative design platform used by product designers, UX/UI teams and developers. They also just recently filed their S-1.

During this episode, Dave "CAC" Kellogg and Ray "Growth" Rike discuss several aspects of the S-1 including:

• Customer count & revenue by customer segment (< $10,000 ARR, > $10,000 ARR, > $100,000 ARR, > $1M ARR)
• Net Revenue (Dollar) Retention Rate Calculation (132%)
• Gross Revenue (Dollar) Retention Rate Calculation (96%)
• Rule of 40 = 79 (higher than Palantir)
• Impact of the Adobe acquisition collapse - an enterprise valuation perspective

Inspiration for the discussion and a few data points beyond what was in the Figma S-1 included:

• Jamin Ball - Clouded Judgement Newsletter
• Only CFO Newsletter
• CJ Gustafson - Mostly Metrics Newsletter

If you are interested in SaaS companies, S-1 filings and SaaS Metrics such as Net Revenue Retention, Gross Revenue Retention, and Rule of 40 - those metrics that impact enterprise value - this episode is for you!!!

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Go-to-Market is a term often used to describe the strategy, processes, and organizations that B2B companies employ to acquire, retain, and expand their customer base.

In this episode, Dave "CAC" Kellogg and Ray "Growth" Rike discuss the recently published ICONIQ report on the State of GTM 2025...and yes, it includes a lot about how AI-native and AI utilization are impacting all things GTM.

Topics include:

• Funnel Conversion Rate Trends
• AI-Native Funnel Performance Advantages
• Cost per Opportunity
• Customer Renewal Timing
• Go-to-Market Headcount allocation (AI-Native vs Legacy SaaS)
• AI's impact on Sales Productivity
• AI Spend Trends

If you are a GTM leader, are responsible for the financial performance of your B2B SaaS company, or are interested in how AI is impacting all things customer acquisition, retention, and expansion, this episode has something for you!!!

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