Q3 2024 Net Dollar Retention Trends

Below is the Q3 2024 net dollar retention of every SaaS company that has IPO’d since October 2017; 62 of the companies are still public and 34 of them released net dollar retention data in Q3. The data also shows NDR over the past 11 quarters.

Stable NDR. The current median of 110% is strong, but that figure fell from H1 2022 when NDR was over 123%. The average NDR shows similar trends. Note however, we’ve stabilized at ~111% over the past 5 quarters which in our view is a real trend.

Other good signs. In Q3 of 2022, median NDR was 123%. Then in Q4 of 2022 it fell hard to 115%. We believe this is because SaaS renewals tend to be much heavier in Q4 than other quarters, so if you’re going to have churn you’ll really see it in Q4. Importantly, we didn’t see a similar drop from Q3 2023 to Q4 2023, so a good sign of stability.

Thank you for the readership. Visit blossomstreetventures.com for more blogs and SaaS data. Email the author at sammy@blossomstreetventures.com.