Q219 at Front: Hitting Goals and Scaling for Growth
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Every quarter, we hold a company-wide meeting called Last Quarter at Front. In it, we go over results from the last quarter and our vision for the weeks ahead. These greatly contribute to our These are the slides from LQAF Q2 in 2019.
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Q219 at Front: Hitting Goals and Scaling for Growth
- 4. 100% Q1 19 quota completion 105% Q2 19 quota completion Q1+Q219 wereamazing! <<GraphofnetnewARRadded everyquartersince2016>>
- 6. TheyfollowQ3andQ418, whichweretough... Q1 18 104% Q3 18 Q2 18 94% Q4 18 xx%xx%
- 7. If we can do that, there isn’t much stopping us from profoundly transforming the way people work. We have a decent shot at it: we have a great product, and it’s time for it to fulfill its potential and meet its market. Many great challenges will inevitably follow if we keep high ambitions, but the next frontier is undoubtedly this one: getting an order of magnitude more users. And as Front grows more resilient as a company, I’m looking forward to all of us growing more resilient as well, as individuals. I sincerely believe that a prerequisite to “working happier” is to always feel in control of our destiny, through the good and through the bad. I’m as grateful as ever to be on this journey with all of you. Now let’s do this! Happy new year :) Mathilde TheyfollowQ3andQ418, whichweretough...
- 9. Q219revenuegeneration: Wesetambitiousgoalsandhitthem << Seat growth every month from 1/1/19 to today >> << New business ARR added every quarter from 1/1/18 to today >> New Business Growth Quarter over Quarter (QoQ) 26%+
- 11. First Goal: Scaleourlead generation Inbound and outbound lead generation are growing Wehadaplan,we’refollowingit Scalingleadgeneration Engaged Leads Outbound SQOs
- 12. Second Goal: GrowourAverage SellingPrice We’re closing more, bigger deals Wehadaplan,we’refollowingit: AverageSellingPrice(ASP) 4/1/2017 10/1/2017 4/1/2018 10/1/2018 4/1/2019 Average Selling Price (ASP) Deals above $Xk MRR 1/1/19 2/1/19 3/1/19 4/1/19 5/1/19 6/1/19 Pipeline $ created Pipeline $ created Sales Qualified Opportunities (SQO)
- 13. Third Goal: Generatemore productdriven growth We’re experimenting a lot, iterating rapidly and making measurable progress Wehadaplan,we’refollowingit: ProductGrowth +15%Signup to active trial +12%Engaged lead to customer
- 14. Q219hiring: Weincreasedourpace 0 5 10 15 20 25 7/1/18 10/1/18 1/1/19 4/1/19 EPD accepted offers Other accepted offers The results: 13EPD hires this quarter, most we’ve done as a company 22Total hires across all departments, most we’ve done since Q1 18
- 15. 12/1/2018 1/1/2019 2/1/2019 3/1/2019 4/1/2019 5/1/2019 6/1/2019 ARR / FTE Ann. Burn / FTE Annually Recurring Revenue (ARR) per Full Time Employee (FTE) is increasing Annualized net $ retention well above industry average 1/1/18 4/1/18 7/1/18 10/1/18 1/1/19 4/1/19 Retention Benchmark We are investing heavily in our product 1/1/17 4/1/17 7/1/17 10/1/17 1/1/18 4/1/18 7/1/18 10/1/18 1/1/19 4/1/19 EPD spend / ARR Benchmark Businessmetricsare veryhealthyagain
- 16. It’s just the beginning 0 2 4 6 8 10 10/1/2017 1/1/2018 4/1/2018 7/1/2018 10/1/2018 1/1/2019 4/1/2019 8 1 2 44 5 1 Paris offers accepted Critical mass reached 0 5 10 15 20 10/1/2017 1/1/2018 4/1/2018 7/1/2018 10/1/2018 1/1/2019 4/1/2019 Sales Support Marketing EPD G&A Growing ARR contribution 1/1/2018 4/1/2018 7/1/2018 10/1/2018 1/1/2019 4/1/2019 % EMEA ARR EMEA 20%20% 13% 16% 2% 0%0% 2% 16% 13% 20% 20% TheParisofficeenables accelerationofgrowth
- 17. Marketing Product Shipped 95% Sales Morepredictability Betterforecasting Betterprocesses Specialization We’relevelingupacross marketing,salesandproduct 0 25 50 75 100 % N ew -Biz AR R % Expansion AR R Logistics Education Financial services Professional services Software Travel Property management Corporate travel On-demand Other
- 19. Outbound is only 11% of total NB in June 0% 3% 6% 9% 12% 1/1/2019 2/1/2019 3/1/2019 4/1/2019 5/1/2019 6/1/2019 Westillneedtoprovewe’re aleveragedbusiness Viral features aren’t a meaningful channel yetLead growth concentrated on smaller companies 1/1/18 4/1/18 7/1/18 10/1/18 1/1/19 4/1/19 1-10 employees 11+ employees << Confidential numbers >>
- 20. Gross churn is too high Weneedtoaddresssome long-standingissues Front is hard to understand I don’t think you meant to reply to that email? Oh no… Messaging, positioning and brand << Chart of annualized gross churn every quarter since 1/1/18 >>
- 22. Front:agoodproduct servingagreatmission Front helps users work: Faster, Better, Smarter, which is great, but pretty much table stakes in SaaS. As a collaborative email client, through transparency and accountability, Front gives a sense of belonging to a team, which in turn makes users: Workhappier.
- 23. Wehavearealisticpath tofulfillthismission 1. We’re actually selling email 4. Virality is a credible lever for our growth3. We expand with a mix of CS and product 130%Net retention after 18 months 2. Product has strong market-fit in some verticals
- 24. Thesizeofouropportunityis whattrulysetsusapart We’ve barely scratched the surface of our best verticals We have many more huge verticals awaiting + It’s very hard to put a ceiling on the impact we can have Frontisaonceina lifetimeopportunity tochangehow workgetsdone* *yes,moresothanothersuccessful startupsyoucanthinkof
- 26. 0 17.5 35 52.5 70 April May May June
- 27. 0 17.5 35 52.5 70 April May May June
- 28. 0 350 700 1050 1400 2019 2020 2021 2022 2023 2024 Vision Are we on track?
- 29. 0 350 700 1050 1400 2019 2020 2021 2022 2023 2024 Vision ??? Are we on track?
- 30. Lookingback At launch — 2014 100 small customers Shared inbox for support teams 2 years in — 2016 1,000 customers Shared inbox for any purpose P4 platform with 15 first party integrations Present day — 2019 5,000 customers Shared inbox for any purpose Individual inbox for work email P4 platform with 50 integrations
- 33. Thankyou