The Ledger, every show
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Kellogg: Madwire cohorts hit negative churn after 18 months
“It actually after 18 months turns to a negative churn, which means essentially people are upgrading at a higher rate than we are seeing in loss. So the book is actually growing month over month.”
Kellogg: Madwire is targeting an IPO within two to three years
“We have talked about dividends in the future and that sort of a thing, but for us, honestly, I think our vision is all that we're on a good roadway here, and if it's IPO that's kind of where we're targeting over the next two to three years, and we figure that …”
Kellogg: 50% to 60% of Madwire Customers Churn in Year One
“So a good percentage do churn in the first year. It's not nine out of 10, but it is about, you know, probably close to 60%, 50, 60%. We'll churn, but we capture, recapture our marketing costs.”
Kellogg: Madwire payments GMV growth will settle around 20% monthly
“It's been growing a lot, but we think it'll flatten out probably be like 20% monthly growth here over the next couple of years.”
Kellogg: Madwire's 50 accounts per employee beats HubSpot and Sprout Social
“Our account per person ratio now is about 50 accounts per person, which is better than HubSpot and Sprout Social.”
Kellogg: Madwire expects core churn to improve to 1.5% within 24 months
“And we expect that to improve to about 1.5% over the next 24 months with payments and some other business management tools that we've built into the platform.”
Kellogg: Madwire's service gross margins range between 60% and 80%
“With our service based businesses or services the margins right in that. 60 to 80% range.”
Kellogg: Madwire is pacing at a $105M annual revenue run rate
“Right, right on pace for that about right now in terms of the run rate.”
Kellogg: Madwire sees roughly 50% customer churn in their first year
“The churn in the new account bucket is usually about 50%. So of the accounts that we open, about half of them will move into the core customer. SPEAKER_01: That's annually. Nathan Latka: That's over the first year. JB Kellogg: That's over the first year.”
Kellogg: Madwire reaches CAC payback in month three with six-month agreements
“Now our CAC's around 3000. It's a little bit more than that. And so when you look at our average account size coming in the door, which is right around 1500, usually in month three is when we start to become profitable on that account. We have a six month agre…”
Kellogg: Madwire's New SMB Accounts Average $1,800 Monthly ARPU
“So in addition to our platform, which is 395 dollars a month, You can add on additional subscriptions for the marketing component. And so that pushes, you know, our new accounts coming in the door today are averaging about 1800 dollars a month, right in that a…”
Kellogg: Madwire's Post-12-Month Core Customer Churn Is ~1.5% Monthly
“Our core customers is a customer that's been with us over 12 months and our core customer churns really good. It's like one and a half percent per month.”
Kellogg: Madwire onboards 75% of new accounts to payments
“We're currently onboarding about 75% of our new accounts to payments.”
Kellogg: Madwire processes $1M in monthly payments GMV
“Well, we're about a million a month right now is about what our average is.”
Kellogg: 80% of New Madwire Customers Sign Up for Marketing Programs
“80% of our new customers do sign up for a marketing program.”
Kellogg: Madwire Has About 20,000 Total Paying Customers
“Total customers paying. Yeah, that's about 20,000.”
Madwire Reaches Approximately $8 Million in Monthly Recurring Revenue
“MRR today is right around eight million, right in that range.”
Kellogg: About 35% of Madwire's customer accounts are in e-commerce
“About 35% of our accounts are e-commerce.”
Kellogg: Madwire targets $150M revenue run rate by September 2021
“We have targets about this time next year to be in that hundred and fifty million range or so we feel pretty good about so that's what we're kind of marching towards”
Kellogg: Madwire aims for 15-20% EBITDA margins and 25%+ growth
“We're trying to get that into that 15 to 20% range here over the next year, which we think is very doable which would put us, you know, we're trying to align to that rule of 40, kind of, where our growth is going to be that 25% plus area and our EBITDA is righ…”
Madwire processes close to $1B annually through legacy SilverEdge accounts
“We have his legacy payments accounts, which are more of like an ISO model, because we acquired a company called SilverEdge two years ago. So with them, it's close to a billion, but if you exclude them and just- Annually? Yeah. Annually.”
Kellogg: 65% of new Marketing 360 customers activate embedded payments
“And so what we're seeing so far is 65% adoption rate. So users buying marketing three 60 right now, but 65% are activating payments.”
Kellogg: Madwire core customer logo churn is roughly 2.8% monthly
“Today, we're our logo churn on core customers, which a core customer is a customer that's been with us 12 months or more is about 2.8% per month.”
Kellogg: Only 50% of new Madwire customers reach the 12-month mark
“It's more like 50%. We'll make it to that twelve-month mark.”
Kellogg: Madwire pays $3,000 to $4,000 to acquire a new customer
“Yeah it's right. It's between three and 4000, depending on the month.”
Kellogg: Madwire generates approximately $175,000 in annual revenue per employee
“It's changing a little bit with our onboarding, but we're right in the 175,000 range.”
Kellogg: Madwire has about 10,000 active customers
“Total customers right now, when you, we just acquired a payments company, so that, you know, added to that total, but it's about 10,000 active customers right now.”
Kellogg: Madwire new incoming accounts average $1,500 per month MRR
“So the incoming accounts now, the average account size is around 1500 a month MRR.”
Kellogg: Madwire generates 6,000 inbound leads per month with no outbound
“We don't do any cold calls of any kind. These are all inbound leads off of our website. Currently we generate about 6000 a month.”