FloQast

11 statements across 1 episodes · 5 bullish · 1 bearish · 1 people on the record · first statement Oct 4, 2018 by Mike Whitmire · said 34 times in 1 episodes since 2018 · across every show →

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brought up most by Nathan Latka (31), Mike Whitmire (3)

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2018 34 mentions in 1 episode

1167 How FloQast Grew 300% YoY to $8m ARR Selling to Accounting Teams Oct 4, 2018 · 34 mentions · from 0:00
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Everything said about FloQast, oldest first

Oct 4, 2018 neutral

Assertion Not checkable as stated

FloQast reaches 95 employees and opens new Los Angeles headquarters

“And we have about 95 employees today just moving into our new headquarters in LA.”

Mike Whitmire Oct 4, 2018 ▶ 9:14 1167 How FloQast Grew 300% YoY to $8m ARR Selling to Accounting Teams

Oct 4, 2018 neutral

Disclosure

Amplify LA acquired 5 percent of FloQast for $50,000 early on

“50 grand for five percent.”

Mike Whitmire Oct 4, 2018 ▶ 11:20 1167 How FloQast Grew 300% YoY to $8m ARR Selling to Accounting Teams

Oct 4, 2018 positive

Prediction Not checkable as stated

FloQast nears 500 customers three years after Q1 2015 launch

“So today we have about 400 customers. We're creeping towards, towards 500. We've been selling the product for three years now. So we went to market in Q one of 2015 was really when we started selling the product. So after three years, you have about just over …”

Mike Whitmire Oct 4, 2018 ▶ 8:55 1167 How FloQast Grew 300% YoY to $8m ARR Selling to Accounting Teams

Oct 4, 2018 negative

Insight

Top-down enterprise sales inevitably fail without end-user buy-in, Whitmire argues

“So that was a really early lesson for us to actually not sell to a company where we don't have buy-in from the controller or who people who are ultimately going to be the users. So we've, there have been a couple of times where we have not moved forward with a…”

Mike Whitmire Oct 4, 2018 ▶ 16:03 1167 How FloQast Grew 300% YoY to $8m ARR Selling to Accounting Teams

Oct 4, 2018 bullish

Assertion Not checkable as stated

FloQast revenue is growing 300 percent year-over-year, says Mike Whitmire

“From a revenue perspective, it's closer to about 300% is what we're growing.”

Mike Whitmire Oct 4, 2018 ▶ 9:49 1167 How FloQast Grew 300% YoY to $8m ARR Selling to Accounting Teams

Oct 4, 2018

Disclosure

FloQast averages $15K to $20K annual contract value, says Mike Whitmire

“So we think about things annually and our average customer has 10 to 15 accountants is roughly the size of the department. And so that's going to work out to 15 to 20,000 dollar contracts with prices inching up every quarter as we grow out our solution.”

Mike Whitmire Oct 4, 2018 ▶ 4:41 1167 How FloQast Grew 300% YoY to $8m ARR Selling to Accounting Teams

Oct 4, 2018 neutral

Assertion Not checkable as stated

Most FloQast customer churn is driven by M&A, says Mike Whitmire

“Most of our customers who churn are actually because they got acquired by another company as they were trying to grow. So the acquiring company will buy them and say, ah, we're not taking on any of your software or we use a competing product. And so we're goin…”

Mike Whitmire Oct 4, 2018 ▶ 14:48 1167 How FloQast Grew 300% YoY to $8m ARR Selling to Accounting Teams

Oct 4, 2018 neutral

Assertion Not checkable as stated

FloQast spends about $16,000 to acquire a customer, says Mike Whitmire

“So we're spending about 16,000 dollars.”

Mike Whitmire Oct 4, 2018 ▶ 17:14 1167 How FloQast Grew 300% YoY to $8m ARR Selling to Accounting Teams

Oct 4, 2018 positive

Assertion Not checkable as stated

FloQast averages negative 12 percent net revenue churn, says Mike Whitmire

“-12, I believe is our average.”

Mike Whitmire Oct 4, 2018 ▶ 17:00 1167 How FloQast Grew 300% YoY to $8m ARR Selling to Accounting Teams

Oct 4, 2018 positive

Assertion Not checkable as stated

FloQast clients reduce month-end close time by 30%, says Mike Whitmire

“And ultimately what happens is by helping with all three of these pain points, our clients are able to cut time off their clothes. They cut about 30% off their clothes time.”

Mike Whitmire Oct 4, 2018 ▶ 4:24 1167 How FloQast Grew 300% YoY to $8m ARR Selling to Accounting Teams

Oct 4, 2018 positive

Assertion Not checkable as stated

Mike Whitmire confirms FloQast's ARR run rate is roughly $8 million

“That is, but yeah, confidential, we don't like to share it, but you're, you can get a back of the napkin calc there pretty easily.”

Mike Whitmire Oct 4, 2018 ▶ 13:08 1167 How FloQast Grew 300% YoY to $8m ARR Selling to Accounting Teams

FloQast

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