{"title": "SaaS Investor KPIs | Sami Miettinen | Negotiator 16", "titleOriginal": "SaaS-klubi - SaaS-sijoittajien KPIt | Sami Miettinen | Neuvottelija 16", "episodeNumber": "16", "guest": "Sami Miettinen", "publishedAt": "2020-04-26", "duration": "46:24", "durationIso": "PT46M24S", "youtube": "https://www.youtube.com/watch?v=QXR5M5ekTY4", "fiCanonical": "https://www.neuvottelija.fi/fi/episodes/21-saas-klubi-saas-sijoittajien-kpit-sami-miettinen-neuvottelij", "originalLanguage": "fi", "format": "full", "topics": ["saas_software", "ma_exits", "investing_markets"], "description": "Sami Miettinen walks the SaaS Club through the metrics professional investors use to evaluate software businesses: annual recurring revenue, churn, customer acquisition cost and lifetime value. The episode unpacks the Rule of 40, revenue and EBITDA multiples, and why the income statement has to be split between new customer acquisition and recurring business. It also covers SaaS funding options from venture debt to private equity, and when a company should start shaping itself for a sale. Finally it examines the sales model and cost load involved in moving from a home market to international expansion.", "chapters": [], "sourceTranscriptType": "none", "subtitleMethod": "none", "provenance": "Owner page assembled from YouTube metadata and the neuvottelija.fi episode record. No chapter marks are published here even though the publisher's list has sixteen of them: every gap is exactly 180 seconds, which is a grid rather than a record of where the topics changed, so republishing it would assert timestamps that do not hold. No transcript is published either — the channel has no English caption track for this episode and the Finnish one is YouTube's automatic track. This is a solo episode by the host, who works in corporate finance advising on the kind of transaction it describes; nothing in it is investment advice, and the multiples and benchmark levels are those of April 2020.", "coreTheses": ["Splitting the income statement between acquisition and recurring business is the move that makes every other metric interpretable.", "Churn has several calculation methods and investors want a specific one; logo churn and revenue churn answer different questions.", "Five million in annual recurring revenue is named as the threshold at which the exit conversation changes, which is a concrete number rather than a rule of thumb.", "Moving from a home market abroad changes the sales model before it changes the cost base, and companies usually discover this in the wrong order."], "slug": "ep16-saas-sijoittajien-kpit-sami-miettinen", "guestsCanonical": [], "guestPages": [], "page": "https://www.neuvottelija.com/podcast/episodes/ep16-saas-sijoittajien-kpit-sami-miettinen/", "markdown": "https://www.neuvottelija.com/podcast/episodes/ep16-saas-sijoittajien-kpit-sami-miettinen/index.md", "captions": null, "transcript": null, "videoId": "QXR5M5ekTY4", "dbId": null, "qaCoveragePct": 0.0, "qaSemanticVerdict": "metadata_only", "aiArticleEn": "https://www.neuvottelija.com/ai/ep16-saas-sijoittajien-kpit-sami-miettinen/", "aiArticleFi": "https://www.neuvottelija.fi/economy/ep16-saas-sijoittajien-kpit-sami-miettinen/"}