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Heath Wells

๐Ÿ‘ค Speaker
166 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

No, that would be terrible.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

And so, you know, where we are is in terms of expansion, it's pretty solid.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

You know, you could call, you know, 20, 30 something percent of our revenues is coming from there.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

And then the rest is from new business.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

But the reality is it's mostly greenfield.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

And so we're just attacking it as hard as we can in the verticals we are in.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

And it's not 30% expansion.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

We're less than that.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

And we have single digit churn.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

Greater than 110% on a net revenue basis.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

So again, you've got to look at when you're at our size and scale, you have to look at cohorts.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

And so the SMBs,

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

there is just a natural attrition rate.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

They go out of business, they wake up one morning, they decided they're not going to wholesale.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

So that's something that, you know, it doesn't matter what you do.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

There is just a natural attrition in those.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

In the enterprise cohort, we haven't lost a customer this year.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

And so it's just small downgrades.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

Maybe they're

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

jettisoning a certain division or something like that.