Watch on earnings:Revenue growth rate and billings growth (forward-looking demand indicator)Dollar-based net retention rate (measures expansion within existing customer base)Number of customers with $100K+ ARR and $1M+ ARR (enterprise penetration)Free cash flow margin and operating margin progressionRemaining performance obligations (RPO) growth as backlog indicator
Key metrics:Dollar-based net retention rate (quarterly disclosure) · Number of customers with >$100K ARR and >$1M ARR (enterprise adoption indicator) · Billings growth rate (better forward indicator than revenue due to consumption model) · Free cash flow margin trend (indicates operating leverage realization)