Q3 SaaS NDR data from 34 publics

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 still active) over the past 7 quarters. 34 of them release net dollar retention data, which is below.

Falling NDR. The current median of 112% is strong, but that figure fell from H1 2022 when NDR was over 123%. The average NDR shows similar trends.

We were stabilizing, but…. Notably, NDR has been 115% for the 3 straight quarters indicating a stabilization of NDR trends. However, we’re now at 112%. We’ll be very interested to see what is reported in Q4. Perhaps the stabilization was a fluke. Nonetheless, 112% is still a great place to be.

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