Matt Smith
Serial entrepreneur and former big 4 consultant turned SaaS operator. Built and scaled analytics and data warehouses platforms at multiple enterprise Stripe companies before founding Mowt. Passionate about making complex metrics accessible to every founder.
How to build a SaaS financial model: a founder step-by-step guide
Build a SaaS financial model from the MRR movement engine and cohort retention, then tie it to CAC payback and runway so it drives real decisions.
Series A SaaS metrics: what investors actually want to see in 2026
The 2026 Series A bar: roughly 1-3M ARR growing 2-3x with NRR above 100% and a real efficiency story. The metrics that get the meeting vs the term sheet.
SaaS revenue forecasting: how to project MRR and ARR from movement rates
Forecast MRR and ARR bottom-up from the five revenue movements and cohort retention, not a single growth multiplier. Worked 12-month example and error math.
CAC payback period: formula, 2026 benchmarks, and how to shorten it
CAC payback period formula (gross-margin-adjusted), 2026 benchmarks by ACV band, why payback beats LTV:CAC, and four ranked levers to recover CAC faster.
Capital efficiency: the SaaS metrics investors actually check now
Growth-at-all-costs is over. Here are the five capital-efficiency metrics — runway, burn multiple, magic number, CAC payback, and the Rule of 40 — that decide raises and exits in 2026, with benchmarks for each.
The state of SaaS metrics in 2026: stage-by-stage benchmarks for growth, churn, retention and efficiency
SaaS metrics benchmarks for 2026, segmented by ARR stage: median growth, churn, NRR, GRR, CAC payback, Rule of 40, so you can place yourself.
How to calculate MRR: the formula, the 9 revenue movements, and the mistakes that break it
Calculate MRR: the formula, normalization rules, the nine revenue movements, and the five errors (discounts, tax, usage, trials) that break it.
SaaS revenue recognition and ASC 606: a practical guide for founders
Recognize SaaS revenue ratably over the service period, not when you bill. The 5 steps of ASC 606, a worked annual example, and why MRR is not revenue.
What is your SaaS worth? ARR multiples and SaaS valuation in 2026
In 2026 most private SaaS is worth 3x-8x ARR. See the benchmark table and how much one point of growth or 10 points of NRR adds to your multiple.
SaaS pricing strategy: how to raise prices without spiking churn
Raise SaaS prices without spiking churn: use breakeven churn = increase / (1 + increase), a value metric, and grandfathering to grow revenue.
How to reduce SaaS churn: a playbook of tactics that actually move the number
Reduce SaaS churn by diagnosing it first: split cancellations into involuntary, onboarding, and fit, then fix the cheapest leak before spending a dollar.
The SaaS board deck: the 12 metrics investors actually want, with a template
The 12 SaaS board deck metrics investors read, in priority order, with 2025-2026 benchmarks and a copy-paste table to fill in before your next board meeting.
Net revenue retention benchmarks: the formula, 2026 data, and how to push past 100%
2026 net revenue retention benchmarks by ARR stage, the NRR formula with a worked example, NRR vs GRR, and how negative churn pushes you past 100 percent.
MRR vs ARR: the difference, when to use each, and how to convert
MRR vs ARR explained: the difference, how to convert MRR to ARR, when ARR equals MRR times 12 lies, and which number to use for ops vs the board.
Bookings vs billings vs revenue: the three numbers founders confuse
Bookings vs billings vs revenue, traced through one $12,000 annual contract: what each means, where deferred revenue hides the gap, and how MRR ties in.
Gross vs net revenue retention: why you need both curves
Gross vs net revenue retention explained: GRR is your retention floor, NRR is the growth story, and a worked case where 104% NRR hides 82% GRR.
SaaS cohort analysis: how to read a retention table and turn it into decisions
Read a SaaS cohort retention table in three directions, name the curve shape, and turn each pattern into a decision on onboarding, pricing, and forecasting.
Involuntary churn and dunning: how failed payments quietly cost SaaS about 9 percent of revenue
Involuntary churn is 20 to 40 percent of SaaS churn from failed payments. Measure it, benchmark recovery, and recover about 70 percent with dunning.
The Rule of 40: the formula, 2026 benchmarks, and how to actually hit it
The Rule of 40 formula, 2026 SaaS pass rates by basis and stage, the valuation premium, and why early-stage founders should track burn multiple instead.
LTV:CAC ratio: the formula, why 3:1 is the benchmark, and when it lies
The LTV:CAC ratio formula, why 3:1 is the benchmark, and the three ways a healthy ratio hides a brutal CAC payback period. With worked math and 2026 data.
SaaS churn rate: how to calculate it correctly and 2026 benchmarks
SaaS churn rate explained: customer vs revenue churn, gross vs net MRR formulas with worked dollar examples, 2026 benchmarks, and the annualization trap.
What is Deferred Revenue and Why It's a Liability
Learn what deferred revenue means for SaaS companies, why accountants treat it as a liability, and how to handle it properly in your subscription business.
Quick Saas Ratio - Explained
Learn how to calculate SaaS Quick Ratio, what benchmarks to aim for, and practical ways to improve this critical growth efficiency metric.
SaaS Customer Onboarding: A Practical Playbook
Most SaaS teams treat onboarding like a help center plus a few emails. Then they act surprised when churn stays high. Here is a simple way to treat onboarding like part of the product, not an afterthought.
Stripe Merchant of Record: The New King of SaaS Payments?
Stripe has officially entered the Merchant of Record game. With the acquisition of Lemon Squeezy and JR Farr at the helm, here's why Stripe Managed Payments is the new default for SaaS.
The 2025 UK Budget: A Founder's Reality Check
The government wants you to believe this Budget backs British tech. But if you're actually building a company here, the picture looks different.
The Truth About MRR: What Most SaaS Founders Get Wrong
Most founders track MRR wrong. Learn why Monthly Recurring Revenue is more nuanced than you think, and how to decompose it into actionable growth levers that actually move the needle.