Where Did All the 130% Net Dollar Retention Go?

<p>In this episode of Mostly Growth, the number one podcast in product monetization, Kyle and CJ go dumpster diving through SEC filings to find out what happened to the once-common 130% net dollar retention rate. They break down Workday, SaaS retention metrics, disappearing disclosures, and why the market’s best expansion stories may be getting harder to find.</p><p>—</p><p>SPONSORS:</p><p>Lightfield is an AI-first CRM built for modern sales teams that want to manage deals without manual data entry or dashboards. By joining sales calls, reading emails, and maintaining full account context, Lightfield helps teams prioritize deals, automate follow-ups, and stay prepared for every interaction. It’s like having a sales coach, RevOps analyst, and EA in one. Start a 14-day free trial at<a href="https://www.lightfield.app"> <u>https://www.lightfield.app</u></a> and use code MOSTLYGROWTH to get 3 months free.</p><p>beehiiv is a modern newsletter platform built for creators who want to grow, monetize, and own their audience without piecing together a stack. Its all-in-one platform brings together newsletters, websites, analytics, automations, and monetization tools, and now supports podcasts, webinars, and MCP workflows. Kyle even used beehiiv’s MCP in Claude to audit his site, prioritize SEO fixes, and analyze subscriber trends. Try it free at<a href="https://www.beehiiv.com/kyle"> <u>https://www.beehiiv.com/kyle</u></a> and use code KYLE30 for 30% off your first three months.</p><p>Tabs is an AI-native revenue platform that unifies billing, collections, and revenue recognition for companies running usage-based or complex contracts. By bringing together ERP, CRM, and real product usage data into a single system of record, Tabs eliminates manual reconciliations and speeds up close and cash collection. Companies like Cortex, Statsig, and Cursor trust Tabs to scale revenue efficiently. Learn more at <a href="https://www.tabs.com/run"><u>https://www.tabs.com/run</u></a></p><p>—</p><p>LINKS: </p><p>Mostly Metrics: <a href="https://www.mostlymetrics.com"><u>https://www.mostlymetrics.com</u></a></p><p>CJ on LinkedIn: <a href="https://www.linkedin.com/in/cj-gustafson-13140948/"><u>https://www.linkedin.com/in/cj-gustafson-13140948/</u></a></p><p>Growth Unhinged: <a href="https://www.growthunhinged.com/"><u>https://www.growthunhinged.com/</u></a></p><p>Kyle on LinkedIn: <a href="https://www.linkedin.com/in/kyle-poyar/"><u>https://www.linkedin.com/in/kyle-poyar/</u></a></p><p>Slacker Stuff: <a href="https://www.slackerstuff.com/"><u>https://www.slackerstuff.com/</u></a></p><p>Ben on LinkedIn: <a href="https://www.linkedin.com/in/slackerstuff/"><u>https://www.linkedin.com/in/slackerstuff/</u></a></p><p>—</p><p>RELATED EPISODES:</p><p>Navan’s CFO on the Capital Allocation Mistakes Companies Keep Making</p><p><a href="https://youtu.be/siwzJSRXAvY"><u>https://youtu.be/siwzJSRXAvY</u></a></p><p>Escaping the AI Thirst Trap: Building Products That Actually Last | Des Traynor</p><p><a href="https://youtu.be/LLtMIoppG3Y"><u>https://youtu.be/LLtMIoppG3Y</u></a></p><p>—</p><p>TIMESTAMPS:</p><p>0:00 Intro: where did the 130% NDRs go?</p><p>1:10 Workday: the canary in the coal mine</p><p>2:18 SEC asks Workday for their NDR</p><p>3:04 Workday says: we&#39;d rather not</p><p>4:02 It&#39;s not just Workday</p><p>4:49 The NDR peak: a guessing game</p><p>5:50 NDR was never calculated consistently</p><p>9:29 Sponsors — Lightfield | beehiiv | Tabs</p><p>12:29 Flavor 1: just stop reporting it</p><p>12:59 Flavor 2: vague language instead of numbers</p><p>14:24 Flavor 3: report once a year</p><p>15:29 157% to 117% in 12 months</p><p>16:07 How many are in the 130 club today?</p><p>17:23 Where the threshold actually matters</p><p>18:03 Median: 124% peak to 110% today</p><p>19:14 Why it dropped</p><p>20:46 The case for transparency</p><p>22:29 AI credits not showing up as NDR</p><p>26:00 10 NDR points = 1x valuation multiple</p><p>28:28 The trough of pain: who fell furth