Podcast appearances and mentions of ben murray

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

In this episode of The SaaS CFO Podcast, host Ben Murray welcomes Ananth Manivannan, founder of Resolvd, for an insightful conversation about building a SaaS solution that's shaking up healthcare operations. Ananth shares how his journey from supply chain management at PepsiCo to software engineering at Capital One laid the groundwork for Resolvd, a company dedicated to automating complicated, manual workflows in hospital systems. The discussion highlights how personal experiences—including his own family's encounter with the complexities of hospital supply chains—inspired Ananth to solve real-world problems with technology. He opens up about the realities of fundraising at the pre-seed stage, landing big-name investors, and winning hospital clients by delivering fast, value-driven pilots that avoid drawn-out sales cycles. Whether you're an entrepreneur, a SaaS enthusiast, or just curious about the future of healthcare tech, this episode is packed with candid advice on pricing models, scaling a nimble team, and navigating the unpredictable world of startup growth. Tune in to discover what it takes to bring transformative AI-powered solutions to one of the world's most challenging and impactful industries. Show Notes: 00:00 Resolving the Swivel Chair Problem 06:35 Vision and Execution in Fundraising 09:52 Visionary Pitching for VC Success 12:18 Accelerating Healthcare Sales with Results 16:39 "Rise of Consumption-Based Models" 19:39 Measuring AI Workflow Efficiency 21:39 Exploring Pricing Models 24:21 Expressing Gratitude and Well Wishes Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/resolvd-ai-raises-1-6m-in-pre-seed-round Ananth Manivannan's LinkedIn: https://www.linkedin.com/in/ananth-manivannan-775a24b7/ Resolvd AI's LinkedIn: https://www.linkedin.com/company/resolvdai/ Resolvd AI's Website: https://resolvd.ai/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

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.”

On this episode of The SaaS CFO Podcast, host Ben Murray sits down with Idan Bar-Dov, co-founder and CEO of Heka. Idan shares his unique journey from working in finance and law—starting out at an international law firm advising fintech companies—through the challenges of founding a startup during the pandemic, to leading a fast-growing SaaS company transforming how financial institutions use open source data. Together, they dive into Heka's evolution from its early focus on reconnecting consumers with their assets amid widespread data gaps, to becoming a global platform that provides advanced fraud detection, contact recovery, and enriched credit decisioning for major banks, fintechs, payment processors, and alternative lenders. Idan also opens up about the company's fundraising milestones, lessons learned from raising $16 million to date, building credibility with Fortune 500 clients, and the importance of sticky revenue metrics as the business scales. Tune in to hear more about Heka's mission to become the gold standard in consumer data, outpacing industry giants, and what's next for their growing team headquartered in New York and Israel. Plus, Idan shares practical advice for founders tackling enterprise sales, go-to-market strategy, and fundraising in the financial technology space. Show Notes: 00:00 Fintech Pivot During COVID Lockdown 04:15 Global Financial Reconnection Solutions 07:20 Insightful Investors Drive Series A 11:59 Navigating Investment Deals Efficiently 14:42 Investors Drive Financial Innovation 18:48 "Metrics for Growth: Revenue & NRR" 20:49 "Conquer Fortune 500 Market" Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/heka-raises-14-million-in-series-a Idan Bar-Dov's LinkedIn: https://www.linkedin.com/in/idan-bar-dov/ Heka Global's LinkedIn: https://www.linkedin.com/company/heka-global/ Heka Global's Website: https://hekaglobal.com/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

The SaaS Magic Number is one of the most Googled SaaS metric posts — but it's also one of the most misunderstood. In episode #310, Ben Murray explains what the SaaS Magic Number really measures, why investors care about it, and the benchmarks you should use to evaluate your own business model. From the formula (revenue growth vs. sales & marketing spend) to the nuances (why churn and expansion impact the metric), Ben shows SaaS operators how to avoid common pitfalls. You'll also hear the latest benchmark data from Ray Rike at Benchmarkit.ai, giving you investor-ready context for your next fundraising or valuation conversation. What You'll Learn: What the SaaS Magic Number is and how to calculate it. Why it's more than just a sales and marketing efficiency metric. The nuance: contraction, churn, and customer success also affect the number. Why ARR size and ACV segmentation are critical for accurate benchmarking. When the metric is most useful (short sales cycles, PLG) vs. when to be cautious (enterprise sales cycles). Why It Matters for SaaS Operators & Investors: The Magic Number is a widely used investor metric to gauge efficiency. Clean reporting builds confidence with investors and supports higher company valuations. Benchmarks by ARR and ACV provide a realistic picture of growth efficiency. Using the wrong interpretation can lead to bad decisions in finance strategy and fundraising. Resources Mentioned: Blog Post: https://www.thesaascfo.com/calculate-saas-magic-number/ Five-Pillar SaaS Metrics Framework: https://www.thesaasacademy.com/the-saas-metrics-foundation

When a strategic acquirer or private equity firm comes knocking, they'll ask for more than your headline ARR number. In episode #309, Ben Murray shares the seven critical numbers that buyers want to see before moving forward with a deal. These SaaS metrics and investor metrics are not only central to due diligence but also directly impact your company's valuation. From ARR and contracted ARR to retention and RevRec policies, you'll learn what to prepare now so you're ready for the call — whether it's tomorrow or two years from now. The point is to be prepared! What You'll Learn: - The 7 metrics that this giant investment fund wants to see - Preparing your 4 key data sources - Don't wait; be prepared today Why These Numbers Matter: - Fundraising & Exits: Acquirers use these metrics to assess risk, scalability, and long-term value. - Valuation Impact: Clean data on ARR, retention, and profitability drives higher multiples. - Investor Confidence: Reliable reporting reduces due diligence friction and builds trust. Don't fall prey to "deal fatigue!" Resources Mentioned:

In this episode of The SaaS CFO Podcast, host Ben Murray welcomes Jon Carr-Harris, founder and CEO of Cred, for an engaging discussion about Jon's global background and entrepreneurial journey. Growing up across nine countries and with experience in multiple startups, Jon brings a unique perspective to building successful tech businesses and understanding diverse user needs. Jon shares insights into Cred's innovative predictive intelligence platform, which helps companies bridge internal and external data to drive smarter business actions. The conversation dives into Cred's go-to-market strategies, enterprise sales cycles, and evolving pricing models—along with how the team secured a $15 million seed round and landed big-name customers in sports, entertainment, and finance. Whether you're interested in SaaS growth tactics, data-driven decision making, or scaling a new tech venture, this episode is packed with valuable takeaways. Jon also hints at an exciting new product launch coming soon, so stay tuned to learn more about what's next for Cred! Show Notes: 00:00 "Bridging Internal-External Market Insights" 04:38 PLG to Leadership Sales Strategy 08:33 "Tailoring Sales for Investor Appeal" 12:15 Adapting SaaS Pricing Model 14:28 Data and Revenue Correlation 16:41 "Revolutionary Enterprise Product Release" Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/cred-raises-15-million-in-seed-round Jon Carr-Harris' LinkedIn: https://www.linkedin.com/in/jcarrharris/ CRED's LinkedIn: https://www.linkedin.com/company/credplatform/ CRED's Website: https://www.credplatform.com/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

When preparing for fundraising or an exit to private equity, one overlooked metric can derail your deal: customer concentration risk. In episode #308, Ben Murray explains what customer concentration is, why it matters to investors, and how it can directly impact your SaaS valuation. If too much of your revenue comes from just one or two customers, that risk may scare off private equity buyers or lower your valuation. Ben breaks down how to measure concentration, when it becomes a problem, and why you should start planning now — long before you enter a due diligence process.What You'll Learn• What customer concentration is and how to calculate it.• Why concentration risk is a key investor metric in fundraising and exit planning.• How high concentration can lower a company's valuation.• The difference between strategic buyers and private equity when assessing risk.• Why SaaS operators must monitor revenue mix as part of long-term financial strategy.Why It Matters• Finance & fundraising impact: High concentration can reduce your chances of raising capital or exiting at a premium.• Valuation risk: Heavy reliance on a small number of customers lowers buyer confidence.• Investor confidence: PE firms and strategic buyers want diversified, predictable revenue streams.Resources MentionedSaaS Metrics for Investors – What Drives Valuation: https://www.thesaasacademy.com/the-saas-metrics-foundationQuote from Ben“If one customer makes up 25% of revenue, that's a huge risk to a buyer — especially in private equity.”

The CAC payback period is one of the most important SaaS metrics — and a top investor metric used in boardrooms, fundraising, and valuation discussions. But here's the nuance: which gross profit should you use when calculating it? In episode #307, Ben Murray explains why CAC payback must be gross margin adjusted and why using your company's total blended gross margin is a mistake. Instead, you'll learn how to align ARR, MRR, and revenue streams with their specific gross profit to get an accurate picture of sales efficiency and scalability. This lesson is especially critical for scaling SaaS and AI businesses as miscalculations here can distort your financial model, mislead investors, and even impact your company's valuation. What You'll Learn Why CAC payback is a must-have metric in your financial dashboard. The correct gross profit to use in CAC payback calculations. How to calculate CAC payback when you have multiple revenue streams (subscription, usage, services, hardware). Why large SaaS companies may need segmented CAC payback periods for different products or business units. How an accurate accounting foundation prevents “accounting debt” that complicates metrics and valuation later. Why It Matters Investors rely on CAC payback to judge efficiency and growth potential. Using the wrong gross profit skews results and undermines trust in your financial metrics. Clean accounting systems and segmentation enable accurate benchmarking, which strengthens your story in fundraising and valuation discussions. Resources Mentioned

Is the AI funding boom overshadowing traditional SaaS? In episode #306, Ben Murray shares fresh fundraising data from over 8,000 tracked funding events to see how AI-native companies compare to pure-play SaaS in investor activity. Analyzing the first week of August, Ben breaks down the percentage of companies that are AI-first and how many SaaS products now include AI features or LLM integrations. If you're a SaaS operator, founder, or investor, this is a quick pulse check on where capital is flowing — and what it might mean for your valuation and fundraising strategy.

Welcome to The SaaS CFO Podcast! In this episode, host Ben Murray sits down with Braden Hancock, co-founder of Snorkel AI, to explore the journey of turning an academic research project at Stanford into one of today's leading AI data platforms. Braden shares the origins of Snorkel, how it grew from a PhD initiative to a company helping some of the world's largest enterprises tackle their toughest data labeling and AI evaluation challenges, and why good data remains the “secret sauce” behind successful AI. We'll dive into how Snorkel's platform has enabled organizations—from major banks to highly regulated industries—to quickly build and customize AI models, and why scalable, programmatic approaches to data labeling are game changers. Braden also gives us a behind-the-scenes look at Snorkel's growth, fundraising journey (raising over $237 million to date!), and valuable lessons learned along the way. If you're interested in the real-world applications of AI, SaaS growth strategies, or the evolving landscape of enterprise tech, you won't want to miss this insightful conversation with one of AI's innovative leaders. Let's jump in! Show Notes: 00:00 "AI Success: Data-Driven Approach" 06:24 Startup Investment Stages Simplified 09:57 Strategic Momentum Drives Startup Success 13:16 Expanding Channels and Partnerships 14:33 AI Platform & Data Solutions Pricing 20:25 Focus on Evaluation Challenges 21:17 "Discover Snorkel Online" Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/snorkel-ai-raises-raises-85-million-in-series-c https://www.thesaasnews.com/news/snorkel-ai-raises-100-million-in-series-d Braden Hancock's LinkedIn: https://www.linkedin.com/in/bradenhancock/ Snorkel AI's LinkedIn: https://www.linkedin.com/company/snorkel-ai/ Snorkel AI's Website: https://snorkel.ai/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

What SaaS metrics and financial metrics really matter when you're scaling toward your first $1 million in ARR? In episode #305, Ben Murray breaks down the essential numbers to track using his Five Pillar SaaS Metrics Framework. From building a strong accounting foundation to tracking investor metrics like retention, bookings, and gross profit, this episode gives you the tools to set your business model up for scale and eventual company valuation growth. Whether you're a founder, CFO, or finance lead, you'll learn how to implement the right KPIs before you cross the $1M mark, so you can confidently present metrics to your team and/or investors and operate with clarity. What You'll Learn: SaaSfy Your Accounting Foundation Why your accounting system (QBO, Xero, etc.) needs a SaaS-specific structure. How a clean P&L improves your ability to track revenue, margins, and KPI's. Track Bookings Data Early Why executed contracts (new ARR, expansion ARR, and contraction) are one of the most important SaaS numbers. How bookings feed your go-to-market efficiency calculations and help measure sales ROI. Retention Is Key Gross revenue retention, net revenue retention, renewal rates, and logo retention — and when each matters most. How retention signals product-market fit and impacts valuation. Other Metrics to Watch Gross profit, EBITDA, cash flow forecasting, and cash runway. How do these connect to financial strategy and your long-term investor metrics? Why These Metrics Matter Before $1M ARR: Creates a financial systems foundation for scale. Equips you to benchmark your performance against peers. Builds a data story for fundraising and valuation discussions. Avoids costly gaps in financial modeling once growth accelerates. Resources Mentioned"

What SaaS metrics actually move the needle on your company valuation? In episode #304, Ben Murray shares his “Power 3” SaaS metrics — the three investor metrics that consistently signal scalable growth and increase SaaS valuations. While many articles list “top metrics” without context, these three have proven to be the most impactful in boardrooms, investor meetings, and due diligence. If you want to attract investors, strengthen your business model, and maximize your valuation, start by mastering these three metrics. What You'll Learn: Gross Profit Why high gross profit (80%+ for pure-play SaaS) is a foundation for growth. How revenue mix and margins by stream impact scalability and valuation. Gross Revenue Retention (GRR) Why GRR is the ultimate measure of product stickiness. How poor retention erodes efficiency and drags on working capital. ROSE (Return on SaaS Employees) Ben's proprietary alternative to “revenue per FTE.” Now updated to account for AI-driven roles that replace human labor. Why ROSE is more accurate for modern SaaS org efficiency. Why These Metrics Matter for Investors & Valuation Investors look for predictable, efficient growth — these metrics show exactly that. High gross profit and retention indicate a sustainable business model. ROSE reveals operational efficiency that supports long-term profitability. Together, these KPIs create a clear narrative for maximizing company valuation. Resources Mentioned: The Power 3 SaaS Metrics — Blog post + downloadable templates: https://www.thesaascfo.com/the-power-3-saas-metrics-that-predict-if-youll-scale-or-stall/ Quote from Ben: “If I could only choose three metrics to see if you're scaling the right way, it would be gross profit, gross revenue retention, and ROSE.”

In this episode of The SaaS CFO Podcast, host Ben Murray welcomes Jan Willem Van der Meer, co-founder and Chief Strategy Officer at Momants. Jan Willem shares his entrepreneurial journey, starting from building one of Europe's major ticketing companies to launching Momants, an AI-powered platform designed to transform the events industry. Discover how Momants is tackling the challenges of personalization and efficiency in event ticketing. Jan Willem explains how their solution integrates with existing ticketing systems to automate support, increase conversion, and create tailored marketing experiences for everything from festivals and concerts to museums and amusement parks. Jan Willem also discusses the realities of founding and funding a SaaS startup, offering valuable lessons for aspiring entrepreneurs. If you're interested in how AI is shaping the future of events, or if you're a SaaS founder seeking inspiration and advice, this episode is filled with practical insights and forward-thinking ideas. Show Notes: 00:00 Ticketing Company Rise and Sale 03:57 Challenges in Festival Ticketing 10:00 AI Startup's Initial $1M Investment 11:54 Supportive Network for Startup Success 14:35 "Building AI Partnerships with Innovators" 20:42 Balancing Revenue and Client Experience 22:39 Message Engagement and Client Onboarding 25:38 "WWF Moments Founder Chat" Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/momants-raises-1-million-in-pre-seed-funding Jan Willem Van der Meer's LinkedIn: https://www.linkedin.com/in/janwillemvdmeer/ Momant's LinkedIn: https://www.linkedin.com/company/momants/ Momant's Website: https://www.momants.ai/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

Accurate expense coding is critical to building a clean SaaS P&L that drives investor confidence, valuation discussions, and clarity in internal metrics. In episode #303, Ben Murray explains exactly where SaaS operators should code executive-level expenses (CMO, CRO, VP of Services, CFO, etc.) and why coding accuracy is a non-negotiable for both SaaS metrics and investor metrics. Ben also highlights the common mistake of letting G&A become a dumping ground, which can distort key financial metrics, including your gross profit margin, OpEx profile, and overall SaaS valuation. What You'll Learn: Where to code executive salaries and expenses in your SaaS P&L Why department-level cost centers (Sales, Marketing, Services, etc.) are crucial for accurate SaaS metrics How misclassifying expenses can hurt your valuation and confuse investors during due diligence The golden rule: G&A should not be a dumping ground Tips on ensuring your bookkeeping process supports clean financial reporting Why It Matters for SaaS Operators & Investors: Accurate SaaS P&L structures are essential for clean reporting to boards and investors. Incorrect coding can skew key investor metrics like gross margin and operating expense ratios. A well-coded SaaS P&L provides the foundation to benchmark your business, manage spend, and maximize company valuation during fundraising or exit processes. Resources Mentioned: How to Properly Structure Your SaaS P&L (Blog Post + Example Template) Quote from Ben:“As a CFO, G&A isn't a catch-all—it should only hold true G&A costs. Every expense needs to follow the people creating it.”

Ben Murray of Food & Water Watch on the hidden costs of free A.I. apps

Welcome to another episode of The SaaS CFO Podcast! Today, host Ben Murray sits down with Adrian Murray, founder and CEO of Fisent Technologies—a Toronto-based, SaaS company that's making waves in the enterprise automation space. With a background in banking technology, consulting, and a previous ed tech startup, Adrian shares his fascinating entrepreneurial journey and reveals how Fisent pivoted from its original KYC-focused product to its flagship BizAI solution, thanks in part to the rise of generative AI models like OpenAI's GPT, Google's Gemini, and others. In this conversation, Adrian discusses the complexities of automating content processing for highly regulated industries such as financial services, manufacturing, and healthcare. He gives real-world examples, including how Fisent is helping a specialty parts manufacturer in the nuclear industry save time and improve on-time delivery metrics by extracting detailed requirements from lengthy technical documentation. Adrian also dives into go-to-market strategies, focusing on partner-driven sales, transactional pricing models, and why speed—not just cost savings—is the primary value driver for Fisent's enterprise customers. Whether you're interested in SaaS pricing strategies, enterprise sales, or learning how AI is being applied to real-world business challenges, this episode is packed with actionable insights and entrepreneurial advice. Be sure to visit Fisent.com or connect with Fisent Technologies on LinkedIn for more information. Show Notes: 00:00 Innovating KYC with Fisent Risk 03:28 AI-Powered KYC Automation 06:51 AI Streamlines Complex Order Processing 13:11 Partner-Driven Enterprise Strategy 17:22 Post-Sale Software Usage Challenges 18:42 Importance of Net Dollar Retention 21:40 "APIs: Demo Usability vs. Production" Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/fisent-technologies-expands-seed-round-to-2m Adrian Murray's LinkedIn: https://www.linkedin.com/in/adrianmurrray/ Fisent's LinkedIn: https://www.linkedin.com/company/fisent/ Fisent's Website: https://fisent.com/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

You've added new ARR—but are you spending too much to get it? In episode #302, Ben Murray walks through two practical ways to align your ARR growth with your sales and marketing spend. If you're unsure whether you're underinvesting, overspending, or just inefficient, this episode will help you benchmark your GTM motion using real data and operator-friendly metrics. What You'll Learn Two ways to triangulate S&M spend relative to ARR OpEx profile: Sales & Marketing spend as a % of revenue Cost of ARR: Spend required to acquire $1 of net new ARR Why relying on benchmarks without context (like ACV or price point) can mislead your analysis The difference between investment level and go-to-market efficiency Where to find benchmarks by ACV stage using Benchmarkit.ai (Ray Rike's dataset) Why It Matters Your sales & marketing efficiency plays a critical role in sustainable SaaS growth Proper benchmarks help you avoid overspending—or underinvesting—in growth Helps investors and operators answer: “Is our GTM engine working?” Resources Mentioned Cost of ARR Blog Post + Template: https://www.thesaascfo.com/saas-cac-ratio/ Benchmark data: Benchmarkit.ai Quote from Ben “I love the Cost of ARR—because whether your ACV is $500 or $50,000, it normalizes efficiency across go-to-market models.”

Does your retention data feel off—or even meaningless—because of catch-up invoices, credit notes, or daily revenue recognition? In episode #301, Ben Murray explains how proper revenue recognition practices can sometimes interfere with clear retention reporting and what SaaS operators can do about it. Learn how to build a pro forma MRR schedule that strips out accounting noise and gives you clean, consistent retention metrics you can actually rely on. What You'll Learn Why revenue recognition can distort retention metrics, even if your accounting is correct The difference between GAAP-based MRR and a pro forma MRR schedule How Ben built and used a pro forma model during a private equity exit process How to build your own pro forma MRR schedule using invoice data The critical role of invoice data as your source of truth Tools & Resources BackOfficeTools App: Upload your invoice data and generate retention metrics. Check out the tutorial here to learn more and sign up: https://www.thesaasacademy.com/offers/zz3ZR2WL Key Quote from Ben “We still follow proper revenue recognition, but when it comes to retention, sometimes we need a second view. A pro forma MRR schedule helps us cut through the noise.”

Today, on the Hudson Mohawk Magazine, Mark Dunlea speaks with Ben Murray, a Senior Researcher with Food and Water Watch on the Trump administration's Artificial Intelligence Action Plan and the environmental impacts of the AI industry. Then, Benno Greene reports on the Milk with Dignity campaign by Migrant Justice. Later on, retired national weather serviceman Hugh Johnson joins us to talk about some recent flash floods, and this week's weather. After that, we have the Everybody Moves piece that profiles immigration stories from people in our community. This week we heard from Rosaly. Finally, Rebecca Alston interviews Aila about music and activism Co-hosts: Lennox Apudo & Sean Bernyk Engineer: Jalaya Reid

On July 23, 2025, the Trump administration issued an Artificial Intelligence Action Plan. The plan is viewed as heavily promoting the AI industry and seeks to reduce the ability of individual states to adopt their own regulations. Environmental groups are concerned about the massive electricity and water demands of the AI Industry. Ben Murray, a Senior Researcher with Food and Water Watch, discusses the issue with Mark Dunlea for Hudson Mohawk Magazine.

RPO—Remaining Performance Obligations—might not be a term you hear often in private SaaS, but public companies are required to disclose it, and it's becoming a critical forward-looking metric. In episode #300, Ben Murray breaks down the RPO concept, how it's calculated, and why it matters in understanding your future revenue. Whether you're preparing for due diligence or just want a stronger grip on your revenue story, understanding RPO can give you an edge. What You'll Learn What “Remaining Performance Obligations (RPO)” means in SaaS How RPO connects to deferred revenue and unbilled contract amounts Why RPO is considered a forward-looking visibility metric Real-world RPO definition from Snowflake When RPO might apply to private SaaS companies — especially with multi-year deals Why It Matters A rising RPO often signals strong future revenue durability Adds context to your SaaS metrics Valuable in due diligence, PE conversations, and strategic exits Resources Mentioned Blog Post: Deep dive on RPO with real-world examples and use cases: https://www.thesaascfo.com/understanding-remaining-performance-obligations-in-saas/

How do usage-based SaaS companies convert transactional or variable revenue into Annual Recurring Revenue (ARR)? Episode #299 gives you a practical framework for presenting usage-based ARR to your Board, investors, and internal teams with clarity and confidence. After manually reviewing hundreds of public filings and investor materials, Ben Murray breaks down the real-world methods used by companies like Confluent and Datadog to turn usage into ARR. What You'll Learn The most common method for usage-based ARR The second most common method How these methods compare to traditional MRR x 12 for subscription models Why ARR is often used as a North Star Metric and how transparency is improving across SaaS companies. Resources Mentioned Webinar Replay & Slide Deck (~59 slides): Get definitions, examples, and real ARR formulas from leading SaaS companies: https://www.thesaasacademy.com/offers/zz3ZR2WL Ben's Research Process “Over 100 hours of manual research. I tried using AI—OpenAI couldn't handle it. I had to read the filings myself. These ARR methods are backed by real-world data from public SaaS companies.”

In episode #298 of SaaS Metrics School, Ben Murray dives deep into one of his favorite metrics: ROSE – Return on SaaS Employees. If you're aiming to build a durable SaaS business or position your company for a private equity exit, this episode is a must-listen. Ben explains why ROSE is far more insightful than traditional Revenue per FTE and how it helps evaluate organizational efficiency by factoring in the actual investment made in your people—including fully burdened employee and contractor costs.

In episode #297, Ben Murray tackles a common SaaS metrics question: How should reactivations be treated when calculating gross and net revenue retention (GRR & NRR)? Key takeaways: Reactivated customers (e.g., those who churned quickly but later update payment info) should not be included in new revenue — doing so skews CAC and CAC payback metrics. Gross Revenue Retention (GRR) only accounts for contraction and churn — reactivations don't belong here. Net Revenue Retention (NRR) is where reactivations should be recorded — they're essentially recovered revenue from existing customers. SaaS companies with high first-month churn (e.g., due to onboarding issues) may consider calculating an adjusted retention metric. Ben also highlights his new AI chatbot on TheSaaSCFO.com — trained on his blog content for instant SaaS finance answers. Level up your SaaS knowledge here: https://www.thesaasacademy.com/

Host Sagi Eliyahu welcomes Ben Murray, Co-Founder of Extend and Founder of The SaaS Academy. Ben shares insights from his work as a fractional CFO and finance educator supporting early- and growth-stage SaaS companies. They discuss the evolution of the CFO role, the realistic pace of AI adoption in finance and how SaaS businesses are reassessing growth strategies, pricing models and tech stacks in today's market.Key Takeaways:(02:52) The transition from traditional SaaS to agent AI is the next business model shift.(04:59) Modern CFOs manage 10–15 tools just to operate their back office.(06:14) AI adoption is often pushed by boards and C-level execs, not just IT.(07:52) Finance and accounting functions are slower to adopt AI due to precision requirements.(09:21) The rule of 40 may fade, but financial discipline stays essential.(12:20) Not every SaaS company needs to be AI-first to deliver long-term value.(14:14) Pricing models are shifting, but predictability and ARR clarity still matter.(16:53) SaaS metrics may not fully map to AI businesses with uncertain retention.(20:42) AI integration could reshape org charts by replacing specific manual tasks.(22:22) Leaders build trust by avoiding assumptions and seeking clarity in conflicts.Resources Mentioned:Ben Murrayhttps://www.linkedin.com/in/benrmurray/Extend | LinkedInhttps://www.linkedin.com/company/tryextend/Extend | Websitehttps://www.tryextend.com/The SaaS Academy | LinkeInhttps://www.linkedin.com/company/the-saas-academy/The SaaS CFO | Websitehttps://www.thesaascfo.com/This episode is brought to you by Tonkean.Tonkean is the operating system for business operations and is the enterprise standard for process orchestration. It provides businesses with the building blocks to orchestrate any process, with no code or change management required. Contact us at tonkean.com to learn how you can build complex business processes. Fast.#Operations #BusinessOperations

What does it really take to grow from $10K MRR to $10M ARR? That leap isn't just big; it's transformative. It marks the shift from being a scrappy startup to becoming a high-growth, scalable SaaS business with a repeatable revenue engine.In Season 6 of the Grow Your B2B SaaS Podcast, Joran Hofman, founder of Reditus, sat down with 20 industry experts: founders, operators, and advisors who have either made this leap themselves or helped others do it. Together, they explored what it really takes to scale successfully.In this special episode, we've compiled all 20 answers into one insight-packed session you can absorb in just 30 to 40 minutes. If you're serious about scaling, this isn't just worth your time; it could change your entire growth trajectory. Don't miss it.Season 6 full episodesEpisode 1: Kristi Faltorusso on Customer SuccessEpisode 2: Aaron Ross on Predictable RevenueEpisode 3: Clark Barron on Demand Gen StrategyEpisode 4: Pablo Assensio on Product-Led GrowthEpisode 5: Peter Loving on UX and RevenueEpisode 6: Tom Shapiro on SEO for SaaSEpisode 7: Mina Golesorkhi on SaaS HiringEpisode 8: Johnny Staker on SaaS Growth StrategiesEpisode 9: Elliott Rayner on Strategic StorytellingEpisode 10: Craig Brown on ICP and MessagingEpisode 11: Ben Murray on Financial StrategyEpisode 12: Nicolas Calabrese on International ExpansionEpisode 13: Kevin Lems on SaaS Pricing in the AI EraEpisode 14: Ramly John on Onboarding StrategiesEpisode 15: Patrick Cumming on Paid AdsEpisode 16: Zoltan Vardy on Founder-Led SalesEpisode 17: Alexander Estner on Go-To-Market PlaybookEpisode 18: Frank Sonders on Go-To-Market StrategyEpisode 19: Ezean and Oji Odeze on Product Management Lessons

Have you ever seen a public company restate its ARR? In episode #296, Ben Murray dives into a real-world example from the London Stock Exchange—Celebrus Technologies—and unpacks why and how they updated their Annual Recurring Revenue (ARR) definition. Key Highlights: Financial restatements ≠ just GAAP: ARR, a non-GAAP metric, is increasingly being scrutinized as pricing and revenue models evolve. Case Study: Celebrus Technologies Old ARR definition: Included license revenue, cloud, support & maintenance, third-party software licenses, and project revenue (i.e. services). New ARR definition: Focuses solely on Celebrus software licenses and managed services—excluding third-party licenses and project revenue. Why the change? To better align with how peers in their sector define ARR. To give investors a “cleaner” view of core recurring software revenue. Impact of the change: ARR restated downward and now reported at 18.8M (FY25). Ben's take: This is a positive trend. While managed services are still debatable as “recurring,” overall transparency in ARR definitions is improving across public SaaS companies. Bonus Insight: ARR restatements, especially when they lower reported revenue, are rare—but this signals a maturing investor focus on true recurring revenue quality. Upcoming Webinar: Join Ben Murray and Ray Rike on July 17 as they explore how public SaaS companies are defining and calculating ARR. >> https://thesaascfo.webinarninja.com/live-webinars/10693368/register

Are you a SaaS founder struggling to hit your first $10K in MRR? You're not alone it's the first major hurdle every SaaS founder faces: proving your product, landing real customers, and building traction. In Season 6 of the The Grow B2B SaaS podcast, Joran Hofaman spoke to 20 successful SaaS founders and experts who've been through it, and at the end of each interview, He asked them one question: “What's your best advice for reaching $10K MRR?” This episode brings all their answers together into one powerful, no-fluff summary and before each expert speaks, he'll tell you which episode they're from so you can check out their full story. If you're growing a SaaS, this episode is packed with the insights you wish you had months ago.Key Timecodes(1:07) - Episode 1: Kristi Faltorusso on Customer Success(2:35) - Episode 2: Aaron Ross on Predictable Revenue(5:11) - Episode 3: Clark Barron on Demand Gen Strategy(6:20) - Episode 4: Pablo Assensio on Product-Led Growth(7:44) - Episode 5: Peter Loving on UX and Revenue(9:04) - Episode 6: Tom Shapiro on SEO for SaaS(10:29) - Episode 7: Mina Golesorkhi on SaaS Hiring(12:59) - Episode 8: Johnny Staker on SaaS Growth Strategies(14:12) - Episode 9: Elliott Rayner on Strategic Storytelling(16:42) - Episode 10: Craig Brown on ICP and Messaging(18:56) - Episode 11: Ben Murray on Financial Strategy(20:05) - Episode 12: Nicolas Calabrese on International Expansion(22:33) - Episode 13: Kevin Lems on SaaS Pricing in the AI Era(24:21) - Episode 14: Ramly John on Onboarding Strategies(26:09) - Episode 15: Patrick Cumming on Paid Ads(28:19) - Episode 16: Zoltan Vardy on Founder-Led Sales(29:36) - Episode 17: Alexander Estner on Go-To-Market Playbook(30:55) - Episode 18: Frank Sonders on Go-To-Market Strategy(32:12) - Episode 19: Ezean and Oji Odeze on Product Management Lessons

In episode #295 of SaaS Metrics School, Ben Murray breaks down how to benchmark your CAC Payback Period accurately—and why generic social media posts can lead you astray. Too many founders rely on simplified benchmark numbers, such as “12 months or less is good,” without understanding the nuances behind the data. Ben explains why ACV segmentation is critical, how top-quartile companies perform across different contract sizes, and where you can obtain customized benchmarks for your SaaS business. Key topics include: Why aggregate CAC Payback benchmarks are dangerous to follow blindly How CAC Payback performance varies by Annual Contract Value (ACV) Top quartile benchmarks from (Ray Rike's database) CAC Payback ranges Why product segmentation matters—don't combine CAC across SMB and enterprise lines How to get free, custom benchmarks to evaluate your own performance Remember: You can't optimize what you don't benchmark correctly. Get free custom SaaS benchmarks: Benchmarkit.ai Download my CAC Payback Period template: https://www.thesaascfo.com/how-to-calculate-cac-payback-period-with-variable-revenue/

In episode #294 of SaaS Metrics School, Ben Murray dives into one of the most important metrics for SaaS operators and investors: CAC Payback Period—with a focus on adapting it for usage-based pricing models. Whether you're B2B, B2C, or AI-focused, CAC Payback is a must-have metric when you're investing heavily in go-to-market strategies. But how do you accurately calculate it when your business has subscription + usage revenue? Ben walks through: The standard CAC Payback formula and why it matters How to define "customer" accurately to calculate CAC How to adjust the denominator of the formula to include usage-based revenue How to estimate usage revenue when there's no clear minimum Public company trends in reporting ARR in usage-based models Practical judgment calls that SaaS CFOs must make when incorporating usage data If you're only including subscription ARR in your CAC Payback, but you're generating significant usage revenue—you're underestimating your efficiency. Learn more: https://www.thesaascfo.com/how-to-calculate-cac-payback-period-with-variable-revenue/ Coming Up Next: CAC Payback Period Benchmarks—why you can't just trust the averages you see online. Enjoying the show? Leave a 5-star review and stay tuned for more SaaS finance insights.

Welcome back to The SaaS CFO Podcast! In this episode, host Ben Murray sits down with Andrew Black, CEO of Kovr, and Sri Iyer, the company's founder and CTO. Kovr is shaking up the world of cybersecurity compliance, helping organizations dramatically speed up the process of achieving certifications like FedRAMP, HIPAA, and others—using the latest breakthroughs in generative AI. Andrew and Sri bring fascinating perspectives, drawing from deep experience in tech, government, and startups, including previous roles at Amazon Web Services, PwC, Lockheed, and Gartner. They talk about the pain points that tech companies and government agencies face when trying to deploy secure software in regulated environments, and how Kovr can cut compliance timelines from years to minutes. If you're curious about go-to-market strategies for AI-first startups, lessons learned from early fundraising, or how to build a SaaS business in a highly regulated market, this episode is packed with candid insights and actionable advice. Tune in to hear how Kovr is empowering innovators to get their products into the hands of customers faster, with less headache—and what's next for this fast-moving team. Show Notes: 00:00 "Compliance Challenges in Software Deployment" 03:43 Streamlining Compliance with AI 06:37 Target Customers: CISOs to DevOps Teams 11:11 Pursuing a $13B Market Opportunity 13:03 AI Traction and Trust Challenges 17:38 Navigating VC Relationships and Fit 20:17 Unlimited-Use Enterprise SaaS Licensing 23:48 Simplifying Gen AI Sales Model 28:26 Efficient AI: Smaller Models, Big Savings 30:25 "Focus on Sales Cycle Days" 33:44 "LinkedIn Profile: Kovr AI" Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/kovr-ai-raises-3-6-million-in-seed-round Andrew Black's LinkedIn: https://www.linkedin.com/in/andrew-black-5435b67/ Sri Iyer's LinkedIn: https://www.linkedin.com/in/sri-iyer/ Kovr AI's LinkedIn: https://www.linkedin.com/company/kovrai/ Kovr AI's Website: https://kovr.ai/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

Gross profit is a core metric in SaaS—and 80% is the benchmark often thrown around. But is that still realistic in today's landscape? In episode #292 of SaaS Metric School, Ben Murray walks through real benchmarking data from Ray Rike's benchmarks at Benchmarkit.ai and explains how gross profit should evolve as your business scales. He also dives into how to set up your SaaS P&L correctly and what to include in COGS vs. OpEx. What You'll Learn: What gross profit benchmarks actually look like today What is our north star GP%? How gross profit changes as you scale Common COGS setup mistakes in SaaS businesses What to do if your gross profit is trending in the wrong direction Benchmarks Mentioned: Bottom quartile Median Top performers Key Insight: Don't blindly shoot for 80% at every stage. Under $2M ARR? It's okay to be lower. But once you're in the $10–20M+ range, that 80% benchmark becomes more important—and achievable. Resources:

In episode #291 of SaaS Metrics School, Ben Murray breaks down one of the most important—and often debated—questions in SaaS finance:

The definition of Annual Recurring Revenue (ARR) has never been standardized - but in an era of variable pricing models such as Usage-Based Pricing, the innovative approaches to calculating and reporting ARR continue to evolve. During this episode, Dave "CAC" Kellogg and Ray "Growth" Rike cover the topic guided by a few recently industry influencer posts - coupled with their own experiences including:Ben Murray, The SaaS CFO - Please Don't Tell me ARR is DeadCJ Gustafson - How Public Companies Report ARRNotable, Glenn Solomon and Laura Hamilton. - Is ARR Dead or Just Evolving?Ben Murray, The SaaS CFO - Defining and Reporting ARR in a Variable Pricing EnvironmentDave Kellogg - SaaS Metrics Palooza '24 - The Impact of AI on SaaS Metrics (especially ARR)If you are interested in the topic of how companies using a variable pricing model are calculating and reporting ARR - this is a must listen episode and provides links to some of the most recent thinking on the topic!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

How much R&D spend is too much—or not enough? In episode #290 of SaaS Metric School, Ben Murray breaks down R&D spend benchmarks by company revenue size, based on data from Ray Rike's Benchmarkit.ai. Whether you're a founder, CFO, CTO, or finance leader, understanding how your R&D investment compares is crucial for building operational leverage and scaling sustainably. What You'll Learn: Why R&D spend can feel like a black box—especially for CFOs Top vs. lean R&D spending benchmarks by revenue tiers: How R&D spend typically scales down as companies grow Why controlling opex and creating operating leverage is key to cash flow and EBITDA Resources & Links:

In this episode of The SaaS CFO Podcast, host Ben Murray welcomes Katherine Tobias, the dynamic co-founder and CEO of InsightWise. Katherine shares her inspiring journey from her early days consulting at KPMG and working in government to leading one of Australia's fastest-growing startups. Driven by her passion for delivering real-world impact and navigating mountains of qualitative data, Katherine reveals how these experiences led her to launch InsightWise—a groundbreaking AI platform tailored for consultants and strategy teams. Tune in as Katherine dives into the realities of startup life, fundraising, and what it takes to disrupt the consulting industry with innovative technology. She opens up about empowering both global enterprises and agile boutique firms with tools that turn unstructured data into actionable insights, while also building a tight-knit team with big ambitions. Katherine's story is a masterclass in navigating career pivots, seizing opportunities, and harnessing AI to drive business transformation. Whether you're a SaaS founder, consultant, or tech enthusiast, you won't want to miss this engaging conversation packed with actionable advice, honest reflections, and a behind-the-scenes look at what it takes to scale a modern software company. Hit play and get inspired! Show Notes: 00:00 From Oxford to Global Startup Success 03:12 Insightwise: AI Hub for Consultants 07:20 AI-Driven Data Synthesis Solutions 10:50 "Building Relationships in Consulting" 15:30 "First-Time Founder Fundraising Journey" 16:32 "Strategic Capital for Business Growth" 19:58 "Insightwise AI Free Trial" Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/insightwise-closes-1-million-in-funding Katherine Tobias' LinkedIn: https://www.linkedin.com/in/katherine-tobias-40857789/ InsightWise's LinkedIn: https://www.linkedin.com/company/insightwise-ai/ InsightWise's Website: https://www.insightwise.ai/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

In episode #288 of SaaS Metrics School, Ben Murray tackles a frequent mistake SaaS operators make when calculating Lifetime Value (LTV) — treating it as an aggregate rather than the point-in-time metric. Ben breaks down the correct formula, shares how to align it with gross revenue retention, and explains when LTV (and LTV to CAC) should be used SaaS businesses. What You'll Learn: Why LTV is a point-in-time estimate, not a company-wide average The correct formula for LTV in SaaS: Cohort ARPA × Gross Margin ÷ Churn How to choose the right churn input using gross revenue retention When LTV to CAC is reliable vs. misleading based on your sales motion (SMB, Mid-Market, Enterprise) Common pitfalls when using LTV in low-volume enterprise models Key SaaS Metrics Covered: LTV (Lifetime Value) LTV to CAC Ratio Gross Revenue Retention (GRR) Cohort ARPA / ACV Churn measurement strategy (trailing 3 vs. 6 months) Who Should Listen: SaaS CFOs, founders, marketers, and RevOps professionals looking to improve financial modeling and SaaS efficiency metrics — especially if you rely on paid acquisition or track LTV to CAC closely. Resources Mentioned: SaaS Metrics Foundation Course: https://www.thesaasacademy.com/the-saas-metrics-foundation Free SaaS Metrics Tools: TheSaaSCFO.com Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page Like What You Hear? Please leave a rating and review to help this podcast reach more SaaS professionals who want to build metrics-driven businesses.

In this episode of SaaS Metric School, Ben Murray dives deep into the often-confusing world of Subscription ARR (Annual Recurring Revenue). After analyzing over 160 public tech company filings, Ben shares the three most common ways companies define and calculate ARR—and why these differences matter for SaaS operators, investors, and finance teams. If you've ever struggled with benchmarking ARR or explaining it to stakeholders, this episode will give you clarity and context. What You'll Learn The three standard definitions of Subscription ARR: Run-Rate MRR Annualized Contract Value Committed/Contracted ARR (CARR) The difference between ARR and CARR and why it matters Why even “pure subscription” businesses report ARR differently How public companies present ARR in earnings reports and filings The pitfalls of using AI tools (like ChatGPT) for ARR extraction Who This Is For This episode is a must-listen if you are: ✅ A SaaS CFO or finance leader looking to align ARR reporting with industry norms ✅ A founder or CEO trying to understand what ARR numbers mean (and don't mean) ✅ A SaaS investor or advisor comparing metrics across multiple portfolio companies ✅ Anyone responsible for forecasting, benchmarking, or reporting SaaS revenue metrics Resources

In episode #286 of SaaS Metrics School, Ben Murray breaks down one of the most common — and costly — mistakes SaaS founders and CFOs make when building their Monthly Recurring Revenue (MRR) schedules: netting contraction and expansion. This seemingly small error can break your ability to calculate key SaaS metrics like Gross Revenue Retention (GRR) and Net Revenue Retention (NRR). What You'll Learn: The essential structure of an accurate MRR waterfall schedule Why separating expansion, contraction, and churn is crucial for calculating SaaS metrics How to calculate GRR and NRR using distinct MRR layers Why trailing 3- and 6-month annualized retention rates offer deeper insights Pro tips on segmenting your MRR by product, ICP, or geography Who This Is For: SaaS founders, CFOs, FP&A leaders, and revenue ops teams looking to improve their SaaS financial reporting and ensure clean, actionable SaaS metrics that stand up to investor scrutiny. Resources Mentioned: Join Ben's private SaaS metrics community: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Subscribe to Ben's newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page Free SaaS Metrics Tools & Templates at TheSaaSCFO.com Enjoying the show? Please rate and review the podcast — it helps more SaaS professionals discover how to build better businesses with metrics that matter.

In this episode of The SaaS CFO Podcast, host Ben Murray welcomes Austin Carroll, the dynamic founder and CEO of Warrant. Drawing from her deep roots in marketing and product management at household names like Capital One, Mercury, and Brex, Austin shares how real-world challenges navigating regulatory approvals inspired her to launch Warrant—a platform harnessing AI to automate and streamline marketing compliance for the financial services industry. Austin highlights the complexities and pitfalls of adhering to rapidly evolving federal, state, and local regulations in sectors like mortgage, insurance, and banking. She explains how Warrant checks marketing materials for compliance, helping companies of all sizes—from nimble startups to large enterprises—avoid costly missteps and accelerate their go-to-market strategies. Her journey provides invaluable insight into the needs of modern fintech marketers and compliance teams. Beyond the tech, Austin opens up about her path as a female founder, candidly discussing the fundraising process, her unique go-to-market approach, and the lessons learned from early customer traction. Whether you're passionate about fintech, compliance, or entrepreneurship, this conversation offers a compelling look at the future of AI-powered marketing compliance and the vision of a founder determined to solve one of the industry's most pressing challenges. Show Notes: 00:00 Streamlining Crisis Communication Compliance 06:09 Regulatory Challenges in Financial Compliance 07:12 Targeting Small to Mid-Market Clients 10:59 Strategic Market Engagement Approach 16:57 Entrepreneurship: Play to Your Strengths 17:51 Conversation-Driven Fundraising Strategy 21:40 Tracking Key Business Metrics 25:37 "Sign Up for Newsletter Now" Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/warrant-raises-720k-in-pre-seed-round Austin Carroll's LinkedIn: https://www.linkedin.com/in/austincarroll/ Warrant's LinkedIn: https://www.linkedin.com/company/warrant/ Warrant's Website: https://www.hellowarrant.com/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

In episode #285 of SaaS Metrics School, Ben Murray dives into one of the most overlooked levers in SaaS financial performance—G&A (General & Administrative) spend. How much should you really be spending on back office functions like finance, HR, legal, and IT? Using data from Benchmarkit.AI, Ben walks through G&A as a percent of revenue across ARR stages—from startups under $1M to companies exceeding $100M. He also explains how operating leverage is created through back office efficiency and why using benchmarks segmented by ARR is crucial in SaaS metrics analysis. What You'll Learn: Why aggregate SaaS benchmarks are dangerous G&A benchmarks by ARR segment (top quartile vs. median) The role of operating leverage in SaaS profitability How to evaluate your own back office spend using metrics Actionable targets for G&A as a percent of revenue SaaS Metrics Covered: G&A % of Revenue Operating Leverage Opex Profile by ARR Benchmarking by ARR vs. ACV Resources Mentioned: Benchmarkit.ai Join Ben's SaaS Metrics community for webinars, templates, and live sessions: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page

In episode #284, let's break down AI ARR. As artificial intelligence transforms SaaS business models, a new metric is gaining traction: AI ARR (Artificial Intelligence Annual Recurring Revenue). But what exactly is AI ARR, how do public SaaS companies define it, and why should private SaaS operators care? In this episode, Ben Murray dives deep into how companies like Verint Systems are reporting AI ARR in their earnings and press releases. Ben breaks down the nuances of these definitions, the implications for SaaS valuation, and what founders, CFOs, and GTM teams need to know to stay ahead of the curve. Key Topics Covered What Is AI ARR? Understand how public companies define AI-based recurring revenue and what makes it distinct from traditional ARR or subscription ARR. Case Study: Verint's AI ARR Disclosure Learn how Verint, a customer and communication automation platform, separates AI ARR from Subscription ARR, and why AI now accounts for 50% of its recurring revenue. Run Rate vs. Recognized Revenue Explore the concept of “annualized quarterly run rate” and why some AI ARR definitions include overages and signed (but not yet active) SaaS contracts. Why AI ARR Matters for SaaS Metrics & Board Reporting Discover how AI ARR can become a key growth driver metric, especially for AI-first SaaS platforms or tools with significant AI adoption. Benchmarking and Financial Transparency Trends Understand why SaaS companies are simplifying metric reporting and focusing on high-signal KPIs like AI ARR for investors and stakeholders. Who Should Listen This episode is a must-listen for: SaaS founders and CEOs scaling AI-powered platforms CFOs and FP&A teams defining KPIs for board decks SaaS investors tracking AI monetization trends RevOps and metrics leaders modernizing dashboards Anyone serious about becoming a SaaS metrics expert Why This Episode Matters As SaaS businesses race to integrate and monetize AI, understanding how to measure, disclose, and leverage AI ARR could be your edge in strategic planning, fundraising, or M&A. SaaS Metrics School isn't just about numbers—it's about empowering you to lead with data. Subscribe & Follow Never miss an insight from the top SaaS metrics podcast. Join our SaaS community. https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page

In this episode of The SaaS CFO Podcast, host Ben Murray welcomes Amira Nakouri, co-founder and CEO of Klaimy, to share her inspiring entrepreneurial journey. With a strong background in strategy consulting for major European insurers, Amira reveals how her drive for innovation—and a spark from the rise of generative AI—led her to launch Klaimy in Paris. Klaimy is redefining the insurance industry by using AI to streamline the complex and time-consuming medical underwriting process. Amira explains how their technology helps insurance companies process medical records with incredible speed and accuracy, cutting decision times from days to just minutes. She also discusses the company's go-to-market strategies, working with mid-sized MGAs, and their hybrid SaaS pricing model. Tune in as Amira shares candid insights about building a startup team, navigating challenges with enterprise sales cycles, and raising pre-seed capital during uncertain times in Europe. Whether you're interested in SaaS, AI, or the future of insurtech, this episode offers valuable lessons for founders and innovators alike. Show Notes: 00:00 From Consultant to Entrepreneur in AI 05:12 Streamlining Complex Insurance Tasks 09:22 Expanding Insurance with AI-Powered Models 12:21 Startup Formation and Partnership Milestones 14:54 Small, Strategic Startup Team 17:49 "Insurance Industry Adoption Challenges" 22:46 Amsterdam Insurance Forum 2024 23:59 Targeted VC Strategy Yields Success 27:13 Explore KLAIMY.com Today Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/klaimy-raises-1-2m-in-pre-seed-round Amira Nakouri's LinkedIn: https://www.linkedin.com/in/amira-nakouri-1b729248/ Klaimy's Website: https://www.getklaimy.com/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

Ready to crack the code on SaaS finances? In this episode, we're breaking down the numbers behind successful SaaS businesses—without the boring jargon. We're joined by Ben Murray, better known as The SaaS CFO, who brings over two decades of real-world finance and operations experience. He's been in the CFO seat at multiple SaaS companies, and now he's on a mission to help founders and finance leaders make smarter, data-driven decisions.Ben walks us through his popular Five Pillar SaaS Metrics Framework—a game-changing approach that simplifies the financial side of SaaS with templates, tools, and expert guidance. Whether you're building your first product or scaling fast, this episode will help you understand your margins, track the right metrics, and use your financial reports as a roadmap for growth.Tune in—it's time to make your numbers work for you.Key Timecodes(0:00) - Introduction: Importance of bookings data and financial management(0:41) - Episode Overview: Deep dive into SaaS finance metrics with Ben Murray(1:37) - Guest Introduction: Welcoming Ben Murray, the SaaS CFO(1:46) - Key Question: Importance of financial reporting for SaaS founders(2:16) - Common Mistakes: Mismanagement of business with cash flow(3:26) - Misconceptions: Finance as a priority in early stages(4:01) - Five Pillar SaaS Metrics Framework: Introduction and overview(5:16) - Financial Reporting: Growth and bookings data importance(7:31) - Getting Started: Foundational needs for early-stage SaaS companies(8:28) - Implementation Steps: Key data sources and tech stack(10:01) - Data Sources: Financial, customer, HR, and bookings data(12:32) - Challenges in Metrics: Understanding economic operations(15:10) - Financial Strategy: Importance of forecasting and metrics(18:08) - Best Practices: Building a scalable finance function(20:22) - Popular Beliefs: Complications and simplicity in financial metrics(21:45) - Gross Margins: Costs in AI tools versus traditional SaaS tools(23:12) - Opinion on Debt: Financing options for SaaS companies(24:54) - Community and Resources: Ben Murray's offerings and insights(27:27) - Benchmarking: Accurate methods for comparing SaaS metrics(29:05) - Future Risks and Opportunities: Preparing for 2025 and beyond(30:54) - Key Advice: Essential tips for SaaS founders(31:12) - Advice for Early-stage SaaS: Financial foundations and forecasting(32:01) - Scaling to 10 Million ARR: Five Pillar Metrics Framework implementation(34:44) - Summary: Key takeaways from the episode(35:13) - Closing Thoughts: Final remarks and contact information

In this episode of The SaaS CFO Podcast, host Ben Murray welcomes Ibrahim Ashqar, the co-founder and CEO of Lumi AI. Ibrahim shares his impressive background in data science and AI, including his time at Deloitte and the supply chain tech unicorn Stord, before diving into why he launched Lumi. The conversation highlights the challenges companies face with traditional business intelligence tools, and how Lumi is revolutionizing data access for brands, retailers, and supply chain operators through agentic workflows and conversational analytics. Ben and Ibrahim discuss Lumi's focused go-to-market strategy, their partnerships with industry giants like Deloitte and BCG, and how they're working with mid-market to Fortune 10 enterprises. Listeners will also hear about Lumi's journey through fundraising, lessons learned in scaling an early-stage SaaS company, and the key product metrics that guide their growth. Whether you're interested in AI, enterprise analytics, or the inner workings of a fast-growing SaaS startup, this episode is packed with actionable insights and firsthand advice from the front lines of innovation. Show Notes: 00:00 Supply Chain Analytics Software Focus 04:54 Strategic Supply Chain Planning Overview 09:13 Educational Analytics Approach Success 11:28 Consultant Challenges: Navigating Clearances 15:36 Complementary Tool, Not Replacement 18:36 Unexpected Visibility During Stealth Mode 21:34 Effective Investor Pitch Strategy 24:34 "Optimizing Intuitive AI Workflows" Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/lumi-ai-raises-3-7-million-in-seed-round Ibrahim Ashqar's LinkedIn: https://www.linkedin.com/in/ibrahimashqar/ Lumi AI's LinkedIn: https://www.linkedin.com/company/lumi-ai Lumi Ai's Website: https://www.lumi-ai.com/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

On this episode of The SaaS CFO Podcast, host Ben Murray sits down with Gus Neate, the co-founder and CEO of Wilson AI. Gus shares his unique journey from engineering and law to entrepreneurship, explaining how his experience in top law firms and in-house legal teams inspired the creation of Wilson AI—the world's first AI-powered paralegal. Together, they delve into how Wilson AI is helping in-house legal teams automate repetitive contract workflows, extract key terms from documents, and enable seamless legal Q&A within organizations. Gus discusses the ideal customer profile, ROI for clients, and the tiered pricing model that powers their early traction. He also opens about their recent $1.7 million pre-seed raise, lessons learned through fundraising, and the importance of product adoption and user retention in these early stages. From data security concerns to global expansion ambitions, Gus offers insights for founders, legal ops leaders, and SaaS CFOs alike who are interested in leveraging AI to streamline their legal operations. Stay tuned for a behind-the-scenes look at scaling an early-stage SaaS company right at the intersection of law and technology. Show Notes: 00:00 AI Paralegal by Wilson for Contracts 06:22 Tiered Pricing Structure Insights 09:38 Targeted Content for Legal Teams 11:43 Accelerator-Driven Entrepreneurial Growth 15:01 Streamlining Customer Experience Setup 17:02 AI-Enhanced Document Analysis Tools 19:41 "Explore GetWilson AI" Links: SaaS Fundraising Stories: https://www.thesaasnews.com/news/wilsonai-raises-1-7-million-in-funding Gus Neate's LinkedIn: https://www.linkedin.com/in/gus-neate/ Wilson AI's LinkedIn: https://www.linkedin.com/company/wilsonai-company/ Wilson AI's Website: https://www.getwilson.ai/ To learn more about Ben check out the links below: Subscribe to Ben's daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe Subscribe to Ben's SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page SaaS Metrics courses here: https://www.thesaasacademy.com/ Join Ben's SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

Welcome to another thrilling episode of The SaaS CFO Podcast! Today, we have the pleasure of hosting Juha Riipi, the brilliant CEO of Quanscient. With a career that spans software development to consulting, Juha has now ventured into the realm of cutting-edge multiphysics simulations, and he's here to share how Quanscient is changing the game.

Stuart Maconie and guests come together with mighty laughs, big stories, and altogether good craic from Lisburn, Northern Ireland. Declan Lawn is a screenwriter of multiple TV series alongside his creative partner Adam Patterson, including the successful Blue Lights as well as the BBC miniseries The Salisbury Poisonings. Series three of Blue Lights is currently being filmed in Belfast, and he is currently writing series four. Comedian John Meagher is currently touring his stand-up show Big Year across the UK and Ireland. He chats about his big years in mixed martial arts prior to kicking off a career on the comedy circuit, as well as his Radio 4 documentary The Divil's Own. Writer Naoise Dolan has travelled the world after success with her bestsellers Exciting Times and The Happy Couple, but is returning back to Dublin as she spends this year as the inaugural IPUT Writer-In-Residence. County Tyrone comedian Emer Maguire is bringing her biggest gig yet - Notions - to the Grand Opera House later this year, exploring her experiences of growing up with autism and finding the funny in the most unexpected of places.After a year of accolades and success within the Irish music industry, Corkonian musician Chubby Cat performs a track from her latest EP THE FINE ART OF DISASSOCIATION accompanied on guitar by Ben Murray. Portaferry born singer-songwriter Ryan McMullan performs a track from his upcoming EP In This Room, before beginning his UK and Ireland tour in April. Presenter: Stuart Maconie Producer: Anthony McKee A BBC Audio Northern Ireland production for BBC Radio 4.