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Analytics12 min read

Startup Metrics That Matter

The key metrics investors look for and how to track them effectively.

Keep Thinking Team

1Revenue Metrics

MRR (Monthly Recurring Revenue): The heartbeat of any subscription business. Track it weekly.

ARR (Annual Recurring Revenue): MRR × 12. This is how investors value SaaS companies.

Revenue Growth Rate: Month-over-month and year-over-year. 15-20% MoM is excellent for early stage.

2Customer Metrics

CAC (Customer Acquisition Cost): Total sales & marketing spend divided by new customers. Know this number cold.

LTV (Lifetime Value): Average revenue per customer × average customer lifetime. LTV should be 3x+ CAC.

Churn Rate: Percentage of customers who cancel. Below 5% monthly is good; below 2% is excellent.

Pro Tips
  • Calculate CAC by channel to know where to invest
  • Cohort your churn analysis to spot trends
  • LTV/CAC ratio below 3:1 signals unsustainable growth

3Engagement Metrics

DAU/MAU Ratio: Daily active users divided by monthly active users. 25%+ is strong engagement.

Retention Curves: Plot user activity over time. A flattening curve means you've found value.

NPS (Net Promoter Score): Would users recommend you? 50+ is world-class.

4Operational Metrics

Burn Rate: How much cash you spend per month. Know your runway (cash / burn rate).

Gross Margin: Revenue minus cost of goods sold. SaaS should target 70%+.

Employee Efficiency: Revenue per employee. Benchmark against similar stage companies.

Key Takeaways

1MRR and growth rate are your most important early metrics
2LTV/CAC ratio must be 3:1 or better for sustainable growth
3Churn is the silent killer—track it obsessively
4Know your burn rate and runway at all times
5Different metrics matter at different stages—focus on what's relevant

Put This Into Practice

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