Q3 retention review

Net revenue retention fell to 104% from 111% the prior quarter.1 The decline is concentrated in the mid-market segment, where two large accounts downgraded after a reorganization.2 Expansion held up in enterprise, but new upsells slowed after the pricing change.3

The quickest lever is re-engaging the two downgraded mid-market accounts, which together account for four of the seven points lost.2 A targeted win-back offer before renewal would address most of the gap, and reversing the upsell slowdown means revisiting the new tiers.3

Enterprise held up best: expansion there was roughly flat, so almost all of the drag is coming from mid-market rather than a broad-based decline.3 Gross retention in enterprise actually improved slightly, which is why the net number didn't fall further.4