Gross Retention excludes expansion - it shows pure churn / contraction loss. The gap between NRR and GRR is the expansion lift.
Peak NRR of 127.0% in FY-2021. Latest is 101.0% - that's -26.0pp from peak.
Morningstar is below the Fintech SaaS Public median by -4.5pp (cell median: 106%)
Morningstar (MORN) is a fintech saas company at the public stage. As of its most recent disclosure (FY-2025), Morningstar reported a Net Revenue Retention rate of 101.0% - a mid-pack result for B2B SaaS at this segment.
Morningstar's NRR peaked at 127.0% in FY-2021, 26pp above today's level. The most recent quarter lost 26.0pp QoQ.
Within its peer set (fintech saas companies at public stage in the $25k-$100k acv band), Morningstar's NRR is below the cell median of 106%. Compare against the full peer cell aggregate for distribution and top performers.
Contract shape and forward-booked revenue.
Health scores, usage, and time-to-value when disclosed.
Logo flow per period (count-side complement to dollar-based NRR).
Revenue, ARR, and team-size denominators for the productivity ratios.
Forward-booked revenue by maturity. Renewal pipeline visibility.
Computed from the data above. Shows where value comes from and where leakage hides.
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