NRR 118%. The growth engine is already inside the base.

Archeway Analytics — Q3 FY2025 Board Review

118%
$18.4M
ARR
412
Customers
$44.7K
ACV
74%
Gross Margin
31
New Logos Q3

Expansion now outpaces new-logo for the first time.

$15.1M Starting ARR +$2.8M New Logo +$3.6M Expansion −$1.4M Contraction −$1.7M Churn $18.4M Ending ARR
NRR 118% Expansion Rate 31% Avg Cohort Age 19mo

Top-quartile cohorts expand 2.4x by month 24

2020 Cohort
2021 Cohort
2022 Cohort
2023 Cohort
2024 Cohort
NRR > 110%
100-110%
< 100%

Mid-market is the drag. Enterprise and SMB both above 110%.

NRR 124%

Enterprise

87 logos
$92K ACV
Top churn reason: M&A event
NRR 111%

SMB

189 logos
$18K ACV
Top churn reason: budget cut
NRR 94%

Mid-Market

136 logos
$51K ACV
Top churn reason: no expansion path

Mid-market churn traces to a single failure mode: no expansion trigger at month 6.

Day 0
Onboard
100%
Day 45
First Value
88%
Mo 6
Stall
71%
Mo 9
Churn Decision
59%

No QBR, no upsell prompt at month 6 → 41% drop-off by month 9

Old motion — land and monitor

  • • Manual CSM outreach
  • • 8-month expansion cycle
  • • 94% mid-market NRR

New motion — product-led expansion

  • • In-app usage triggers
  • • 90-day expansion cycle
  • • Pilot NRR 109% at month 3

Pilot cohort (n=44) tracking 15 points above control.

120% 110% 100% 90% +15pts 112% projected 96% control Mo 0 Mo 3 Mo 6 Mo 9 Mo 12

$2.1M reallocation — fully offset by modeled expansion uplift in 14 months.

Program Investment ARR Impact Payback
In-app expansion triggers $480K +$1.2M 11mo
Mid-market CSM pod $740K +$1.8M 15mo
QBR automation $380K +$0.9M 10mo
Retention analytics $500K +$0.7M 17mo
Total $2.1M +$4.6M 14mo avg

Base vs expansion-led: $6.2M ARR gap by Q4 FY2026.

$30.6M $24.4M $6.2M gap Q1 FY25 Q3 FY25 Q1 FY26 Q3 FY26 Q4 FY26
Expansion-led (NRR → 122%)
Base case (NRR flat 112%)

Approve $2.1M reallocation

Vote today. Pilot data is in. Every quarter of delay is $1.55M in unrealized expansion ARR.

118%

The growth engine is already inside the base.

Archeway Analytics | Q3 FY2025

Sandra Osei, Vantage Ridge Capital

Marcus Trebilcock, Independent Director

Diane Wuh, Co-founder & CFO