Paul Statham, founder and CEO of workspace management platform Condeco, explains customer retention metrics for clients including those who do not use their proprietary hardware.
0:00 / 0:04exact quote · 4.1s
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“You know, we still have a 95% retention rate, which we're very pleased with.”
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More from Paul Statham
AssertionNot checkable as stated
Statham: Condeco hardware gross margins are close to software margins
“They, professional services were discounted, but the hardware, because we manufacture it ourselves and it's got some unique properties within it. Our gross margin on our hardware is Fairly much quite, quite close to our gross margin on our software. So they we…”
Paul StathamFeb 5, 2020▶ 12:571656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling
Disclosure
Paul Statham: Condeco generates 45% of revenue from subscriptions
“45% of our revenue is now through our subscription. About 20% is through services, and the rest is through hardware.”
Paul StathamFeb 5, 2020▶ 2:251656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling
Disclosure
Paul Statham: Condeco achieves roughly 122% net revenue retention
“And our net retention is about a 122%.”
Paul StathamFeb 5, 2020▶ 3:141656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling
Disclosure
Statham: Condeco SaaS customer spend ranges from $2K to $40K monthly
“We have our, probably our smallest SAS is paying us around a couple of thousand dollars a month, and our largest could be paying us 30, 40,000 dollars a month.”
Paul StathamFeb 5, 2020▶ 4:071656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling
Disclosure
Statham: Condeco charges $30/month to $800/year per managed room or desk
“It varies wildly, but depending on the size of the scale, but somewhere in a few hundred dollars, it starts at a few hundred dollars a year. So it can start as low as 30, 40 dollars a month. If you have it with all of the additions with signage and screens, it…”
Paul StathamFeb 5, 2020▶ 4:341656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling
AssertionNot checkable as stated
Statham: Condeco Has Around 1,200 Total Customers
“Our total customer base is around 1200.”
Paul StathamFeb 5, 2020▶ 6:461656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling
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