I find myself looking at remaining performance obligations (RPO) for all my SaaS companies and perhaps caring a bit too much if RPO is growing faster/slower than revenue. Or maybe I'm not caring enough? I don't know! What's your stance?
- $APPN's RPO was up 32% in their recent quarter while revenue growth of 20%.
- $NCNO's RPO was up 28% in their recent quarter while revenue growth of 50%.
Edit: Fresh example since their 10-K was just released a few minutes ago... $OKTA
grew revenue at 33% in their recent quarter but RPO is up just 12% YoY. That seems like a very yellow flag to me.