Appian Corporation Class A Common Stock

nCino, Inc. Common Stock

Okta, Inc. Class A Common Stock

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?

Example's:
- $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.

@interrobangbros  RPO serves as a proxy for future revenue, the RPO growth rate provides a leading indicator of growth. In essence, RPO is similar to Total Contract Value (TCV) so it's of high importance, especially for companies relying on future accelerated growth such as SaaS businesses.