In 2020, as data analytics software vendor Snowflake was hitting the public market, one of the key stats it was touting to investors was net revenue retention.
Snowflake's NRR at the time was 158%, meaning its existing customer base from a year earlier had increased its total spend by 58%.
"More pressure on churn (as companies look to reduce point solutions in favor of platforms) and more difficult upsells have pushed net retention down," Ball added.
Twilio , which sells cloud-based communications software, reported NRR of 102% in February, with just 5% year-over-year revenue growth.
Almost all of Twilio's revenue comes from its division that contains technology for sending text messages and emails.
Persons:
Snowflake, Chris Taylor, NRR, Wall, Snowflake's NRR, Aidan Viggiano, Mike Scarpelli, Sridhar Ramaswamy, Frank Slootman
Organizations:
New York Stock Exchange, NYSE, Nasdaq, Representatives
Locations:
Snowflake, U.S, Twilio