Q2 SaaS Net Dollar Retention Data

How is net dollar retention trending in SaaS? We looked at the net dollar retention of every SaaS company that has IPO’d since October 2017 (62 companies) over the past 6 quarters. 34 of them release net dollar retention data, which is below.

Falling NDR. The current median of 115% is very strong, but that figure fell from H1 2022 when NDR was over 123%.

But stabilizing. Notably, NDR has been 115% for the past 3 quarters, so retention appears to be stabilizing at this new lower level. In our view, 3 quarters is a trend and if it’s down from where it was 1+ years ago, NDR of 115% is a great place to be.

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