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Bookings

Bookings is the total value of new contracts that go into effect in a period.

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Bookings is different from new ARR because it includes the value of renewal deals. It's important to track bookings to understand the total value of new contracts that are locked in for at least another year. Sales teams often work on new, expansion, and renewal deals, so total bookings help to show their total contribution to the company. Bookings can be tracked on an ARR or TCV basis.

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Included Metrics

Retained

Average annualized customer contract value.

New Sales

Recurring revenue from new customers.

Expansion

Incremental recurring revenue from existing customers.

Contraction

Recurring revenue lost from customer downgrades.

Churn

Recurring revenue lost from customers churning.

Resurrection

Recurring revenue from former customers that reactivated.

Net New

Net recurring revenue added in a period.

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