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Founder Interview
Company Metrics at Interview Time
Annual Revenue
$44M
MRR
$2,600,000
Paying Customers
11,000
Revenue Growth
64%
Net Revenue Retention
110%
Historical Snapshot
These numbers were reported by Fabien Pinckaers during his interview recorded in December 2018 and are a historical snapshot, not current figures. See Odoo’s current numbers.
| Metric | Value | Source |
|---|---|---|
| Annual Revenue | $44M | Founder interview, Dec 2018 |
| MRR | $2,600,000 | Founder interview, Dec 2018 |
| Annual Recurring Run Rate | $31M | Founder interview, Dec 2018 |
| Revenue Growth (YoY) | 64% | Founder interview, Dec 2018 |
| Paying Customers | 11,000 | Founder interview, Dec 2018 |
| Free Users | 4,000,000 | Founder interview, Dec 2018 |
| ARPU | $200/month | Founder interview, Dec 2018 |
| Gross Annual Revenue Churn | 20% | Founder interview, Dec 2018 |
| Net Expansion Revenue | 30% | Founder interview, Dec 2018 |
Odoo reported $44M in annual revenue for 2018, with MRR of $2,600,000 representing a 64% year-over-year growth rate. Revenue was split roughly 50/50 between SaaS subscriptions and on-premise licenses, with additional non-recurring professional services revenue on top of the $31M recurring run rate.
The company served 11,000 paying customers at an average of $200 per month each. An additional 4,000,000 users accessed Odoo for free through its open-source offering, providing a large top-of-funnel pipeline for conversion.
Odoo employed 580 people at the time of the interview, with approximately 50% being engineers (roughly 290). About 120 staff were dedicated to professional services and onboarding. Half the team was based in Belgium, 30% in the US across San Francisco and New York, and the remainder across Asia and the Middle East.
Odoo was generating $500,000 in positive cash flow every month. The company had raised a total of $12M, including a $4M Series A in 2010 used to pivot from a services model to a subscription vendor model. Fabien Pinckaers stated the company had more cash than it knew how to deploy and had no plans to raise additional capital.
Odoo used a 50/50 split between direct and indirect sales through a partner network of Value-Added Resellers. Partners handled on-premise implementations and received commissions of 10% to 20%, which kept the indirect CAC at $1,200 compared to $2,400 for direct sales.
Each major annual version release drove a 20% to 25% increase in inbound leads within a single month. Fabien credited product investment as the company's most effective marketing lever, noting that Odoo spent far less on marketing than competitors and focused resources on R and D instead.
Odoo spent approximately $20,000 per month on search engine marketing and another $20,000 per month on billboards and other offline ads, totaling a few hundred thousand dollars per year on paid marketing. The open-source model and large free user base of 4,000,000 drove significant organic discovery.
Odoo's pricing model charged per user and per application additively, which naturally encouraged customers to add more apps over time. This drove 30% net expansion revenue annually, as customers who started with one app such as CRM would later add accounting, website, or inventory modules and increase their user counts.
Customers who used Odoo's implementation and onboarding services had first-year churn of 15% to 20%, compared to 30% for those who did not. The 120-person professional services team was therefore a direct retention investment, and Fabien noted the business model shift two years prior to the interview had already begun reducing blended churn from higher historical levels.
“We basically do a suite of business apps from CRM, website builder, accounting, manufacturing, inventory. Those are individual business apps, but if you install several, they fully integrate to each others.”
“We are in MRR. We are $2,600,000 per month or 65% per year.”
“Growth is 64%.”
“We do have two channels. One is direct. So on our SaaS platform direct, and we sell with the partners who offer the product on premise.”
“I launched the company thirteen years ago when I went back from the university.”
“We raised €10,000,000, so $12,000,000”
“We do $500,000 cash flow positive every month.”
“Usually the best marketing impact we have is when we release a new version. Every time we release a new version from one month to another, we have an increase of the lead by 20%.”
“If you need one application you have a lot of competition. Like as you said, you need task management you will have Trello and that kind of thing. But if you need two or three apps, there is nobody more.”
“There is no manager, it's mostly leaders and the people have more power than the manager usually. And so if someone comes with a title, nobody will listen to him.”
This interview captured Odoo at a specific moment in December 2018, when the company was generating $44M in annual revenue with 11,000 paying customers and 580 employees. The figures shared here reflect what Fabien Pinckaers reported during this conversation and should be treated as a historical snapshot. Since this recording, Odoo has continued to grow significantly. Visit the Odoo company profile on getLatka for the most current reported metrics.
View Odoo’s current profile and metrics| Net Revenue Retention |
| 110% |
| Founder interview, Dec 2018 |
| Monthly Cash Flow | $500,000 | Founder interview, Dec 2018 |
| CAC (Direct) | $2,400 | Founder interview, Dec 2018 |
| CAC (Partner/Indirect) | $1,200 | Founder interview, Dec 2018 |
| Partner Commission (smallest) | 10% | Founder interview, Dec 2018 |
| Partner Commission (largest) | 20% | Founder interview, Dec 2018 |
| Total Funding Raised | $12M | Founder interview, Dec 2018 |
| Series A Funding (2010) | $4M | Founder interview, Dec 2018 |
| Team Size | 580 | Founder interview, Dec 2018 |
| Engineers | 290 | Founder interview, Dec 2018 |
| Professional Services Staff | 120 | Founder interview, Dec 2018 |
| Year Founded | 2005 | Founder interview, Dec 2018 |
| Monthly Search Engine Marketing Spend | $20,000 | Founder interview, Dec 2018 |
| Monthly Billboard and Other Ad Spend | $20,000 | Founder interview, Dec 2018 |
| First-Year Churn (no services) | 30% | Founder interview, Dec 2018 |
| First-Year Churn (with services) | 15% to 20% | Founder interview, Dec 2018 |
Nathan Latka
00:00Hello, everybody. My guest today is Fabian Pinckas. He is the founder and CEO of a company called Oodo. Fabian, you ready to take us to the top?
Fabien Pinckaers
00:08>> Yes.
Nathan Latka
00:09Alright. Open source business apps. Tell us more about what you guys are focused on at Oodo.
Fabien Pinckaers
00:13>> So we basically do a suite of business apps from CRM, website builder, accounting, manufacturing, inventory. Those are individual business apps, but if you install several, they fully integrate to each others. Yep. We have a SaaS version as well as an on premise version.
Nathan Latka
00:29Okay. And if you break down your last 12 revenue versus SaaS versus on prem, how much was SaaS?
Fabien Pinckaers
00:35>> It's more or less fiftyfifty.
00:37Oh, fiftyfifty.
00:37>> But I would say that even the on premise SaaS, It's just hosted by someone else.
Nathan Latka
00:43Got it. So both kind of both SaaS model. And can you give me a general sense of scale today? What are doing per month?
Fabien Pinckaers
00:49>> We are in MRR. We are $2,600,000 per month or 65% per year.
Nathan Latka
00:57Okay. Sorry, you cut out there. So you're doing 2,600,000 per month?
Fabien Pinckaers
01:02>> Yes, in MRR.
Nathan Latka
01:03And what were you doing exactly a year ago in December 2017?
Fabien Pinckaers
01:09>> In Bing for the year will be around $44,000,000
Nathan Latka
01:14Sorry, what was your growth rate over the past twelve months?
Fabien Pinckaers
01:17>> Growth is 64%.
Nathan Latka
01:20Okay, 64%. So you were doing about 1,500,000 per month exactly a year ago. Some some something like that. Yeah. And then and then grew that you said 64%?
Fabien Pinckaers
01:33>> Yes.
Nathan Latka
01:34That's great. Very good. Where did help us understand kind of more about where this growth is coming from? How are you signing up customers?
Fabien Pinckaers
01:45>> We do have two channels. One is direct. So on our SaaS platform direct, and we sell with the partners who offer the product on premise.
Nathan Latka
01:55Okay. So what kickback? What
01:58kickback are you paying partners? Is it a twenty, thirty, 50% commission?
Fabien Pinckaers
02:03>> It's ranged from 10 to 20.
Nathan Latka
02:05Okay, 10.
Fabien Pinckaers
02:06>> The smallest have 10 and the largest have 20%.
Nathan Latka
02:0810 to 20%, interesting. Okay, and put all this on before we get too much into the numbers here, this on a timeline for us. When did you launch the company? What year?
Fabien Pinckaers
02:15>> I launched the company thirteen years ago when I went back from the university.
Nathan Latka
02:19Oh that's great, so 2005.
Fabien Pinckaers
02:22>> Yes, and I bootstrapped the company, it was very slow at the beginning. I was alone, second year I was alone, then two people, then four, then eight, so it took a lot of time.
Nathan Latka
02:32How many people today?
Fabien Pinckaers
02:34>> 600, no, it's five eighty.
Nathan Latka
02:36Five eighty, and where is everybody based?
Fabien Pinckaers
02:41>> 50% are in Belgium, 30% are in The US, San Francisco. We also have an office in New York and the rest across Asia and Middle East.
Nathan Latka
02:50Okay, very good. So Belgium, US, New York City and remote locations. And are you still bootstrapped today or have you raised capital?
Fabien Pinckaers
02:56>> No, we raised €10,000,000, so $12,000,000
Nathan Latka
02:59Okay, $12,000,000. And why did you decide to raise? I mean, sounds like you've had a lot of success growing it basically, I mean, with little capital in the company. When did you decide was the right moment to raise?
Fabien Pinckaers
03:10>> So when we were 100 people, we were doing 1,000,000 in revenue per year. We wanted to switch the business model because we started as a service company doing implementation service to our direct customer in Belgium, Then and we wanted to switch to a more vendor style business model, selling subscription instead of selling services. So we had to stop all our service activities from one day to another and focus on building the partner network who would do
Fabien Pinckaers
03:37>> the service for us.
Nathan Latka
03:38So
Fabien Pinckaers
03:39>> it was quite risky and at that time, so we raised $4,000,000 do the pivot.
Nathan Latka
03:45Interesting. And what year was that?
Fabien Pinckaers
03:47>> It was in 2010.
Nathan Latka
03:492010, okay. And so how many customers do you have today?
Fabien Pinckaers
03:53>> 11,000. 11,000.
Nathan Latka
03:5511,000,000 would be a lot.
Fabien Pinckaers
03:57>> We we actually have four millions of users because we do have a lot of free users because of the open source nature of Adobe.
Nathan Latka
04:04Yep. So if I take your 2,600,000 you're doing per month today, and I divide 11,000 customers into that, that means each customer is paying on average 200 or $300 a month. Is that right?
Fabien Pinckaers
04:17>> Yes. Yes.
Nathan Latka
04:18Okay. And your current run rate, I can take 2,600,000 times 12. You're doing about 31,000,000 in annual run rate right now?
Fabien Pinckaers
04:25>> No, we do more because we have non recurring revenues.
Nathan Latka
04:29I see, but just recurring 31,000,000.
Fabien Pinckaers
04:31>> Yes. Yeah.
Nathan Latka
04:32And the non recurring, what is that installation fees for the on prem stuff?
Fabien Pinckaers
04:36>> Yeah, it's implementation service. So import of the data, coaching, customization.
Nathan Latka
04:42Interesting. Walk me through how you scale that. How many people on your five eighty person team are in charge of kind of the onboarding one time revenue stuff?
Fabien Pinckaers
04:51>> Close to 120.
Nathan Latka
04:53120. Okay. Interesting. And is that a lower? Is that a low? Do you run cohort analysis on people that do have professional services on their account versus not? In other words is lifetime value or churn lower when you do have implementation fees on an account?
Fabien Pinckaers
05:06>> Yes, it changes a lot.
Nathan Latka
05:08How much?
Fabien Pinckaers
05:13>> They don't have a service, we have a churn of 30% on the first year. If they do use the service, we are closer to 15%, 20% depending on the size.
Nathan Latka
05:22And blended together, what's your annual revenue churn? Sorry? Blend all your customers together, what's your annual revenue churn?
Fabien Pinckaers
05:30>> It's close to 20. What It's decreasing a lot because we changed the business model two years ago. So most of the customer we churn today are the ones who purchased based on the old business model.
Nathan Latka
05:43Yeah. Okay. So 20% of revenue churn, I assume that's gross annually. Do you have any expansion revenue?
Fabien Pinckaers
05:49>> Yes, it's 30%. So the net churn is around minus 10.
Nathan Latka
05:53Got it. Yeah. So 30% net expansion, which means if I take 30% net expansion minus 20% churn, you have a 110% net revenue retention.
Fabien Pinckaers
06:01>> Yes.
Nathan Latka
06:02Where is most of the expansion coming from? What are you upselling?
Fabien Pinckaers
06:05>> Two things, more apps, so they expand in the company, so they would start with a CRM and then they want to use the website or accounting or inventory, and the number of users. Usually they start small and put more people on board.
Nathan Latka
06:18One of the things that's remarkable to me, if I've been about your business model, is I mean you have apps for email marketing and invoicing and a CRM. But you could say, okay, how do they beat Mailchimp on email marketing? How do they beat FreshBooks on invoicing? And how do they beat HubSpot's free CRM on the CRM? Because these are companies built basically exclusively around those things. Would you credit your success really to the fact that
06:40it's all in one?
Fabien Pinckaers
06:42>> Yes, if you need one application you have a lot of competition. Like as you said, you need task management you will have Trello and that kind of thing. But if you need two or three apps, there is nobody more. You have to go to the ERP like SAP or Microsoft Dynamics who are very complex. So as long as you need two or three apps, it's much easier to use Odoo rather than trying to integrate different apps
Nathan Latka
07:05>> together.
07:05Yeah. When you when you go out and and sign up a new 100 or $300 a month customer, what's your fully weighted CAC look like?
Fabien Pinckaers
07:14>> Say that again? What's the
Nathan Latka
07:15What's your fully weighted customer acquisition cost?
Fabien Pinckaers
07:19>> It depends if direct or indirect. If we sell directly it's €2,000 or 2.5, $2,400. If it's through a partner it's 1.2.
Nathan Latka
07:31Okay, now does that 1.2 include the kickback to the partner?
Fabien Pinckaers
07:36>> It's yes.
07:38Does? It
07:38>> includes the commission of the partner.
Nathan Latka
07:40Okay. And what percent of your new sales are direct versus indirect?
Fabien Pinckaers
07:44>> It's fiftyfifty.
Nathan Latka
07:45Fiftyfifty. Okay. So if we did get to a blended number, be something like one, you know, 1,800 US dollars
07:54But even though you have two very distinct cohorts, direct and indirect. So worst case, $2,400, you're going direct. Your payback period there is what about twelve months to get your money back?
Fabien Pinckaers
08:05>> Yeah. Actually, it's as we sell per year, most of our contracts, we with the payback is quite is instantly.
Nathan Latka
08:12That's great.
08:12>> Yes.
08:12I I wanna dive more into where you're spending that money when you do go direct. But first, I have to ask you. You said you listen to the show. Right? Yes. Why do you listen and you know what you're getting into? Why'd you agree to come on? I'm enjoying this, by way, but I'm curious why you agreed to come on.
Fabien Pinckaers
08:28>> I think I was curious.
Nathan Latka
08:30Curious about what? You want to say, is Nathan a nice guy?
Fabien Pinckaers
08:33>> No. I never did the show, so I wanted to know if I could do it or for me, it's more an experience for myself.
Nathan Latka
08:39I well, listen. I how do you feel you're doing?
Fabien Pinckaers
08:43>> The question is for you, actually.
Nathan Latka
08:44I think you're doing I think you're doing great. I think the audience is gonna love You know, it's my job. A lot of people will come on and kind of spout random stuff like we're the best or we're number one. It's much more valuable when someone like you comes on and shares numbers and then lessons on top of the numbers. So let's continue doing that. $2,400 CAC. Where do you spend that money typically? What's the growth
09:03channel you use?
Fabien Pinckaers
09:04>> We don't spend a lot in marketing compared to our competitors. We do spend a lot in the products. So usually the best marketing impact we have is when we release a new version. Every time we release a new version from one month to another, we have an increase of the lead by 20%.
Nathan Latka
09:21Okay. And when you say new version, you mean you're adding like a new app like invoicing or you're reworking the whole architecture? No.
Fabien Pinckaers
09:27>> We've a big new version. So all the apps are improved at once. We do that once a year. So once a year we have a growth of leads from 20 to 25% just because of the new version.
Nathan Latka
09:38Interesting. Okay. When you do like how much money are you spending per month today directly on like paid paid activities?
Fabien Pinckaers
09:44>> Oh, nothing. Search and search engine activities maybe 20
09:49Okay.
09:49>> Per month. And some billboard and some other ads maybe 20 k extra.
Nathan Latka
09:54Sorry. What was the second one?
Fabien Pinckaers
09:57>> Billboards on the the street.
Nathan Latka
10:01Oh, billboards. Billboards.
Fabien Pinckaers
10:02>> Billboards. Yeah.
Nathan Latka
10:03Interesting. Okay. And do they I mean, how do you track if the billboards work?
Fabien Pinckaers
10:08>> It's impossible to track. It's just word-of-mouth. We hear people talking about it and that's it.
Nathan Latka
10:12Fabian, we saw you on the billboard, like amazing. We signed up yesterday.
Fabien Pinckaers
10:17>> We don't know, but we don't spend that much. We spend a few 100 k per year on that kind of thing. Yeah.
Nathan Latka
10:23Well, to you, by the way, I look at it as a percentage of revenue, right? So yeah, very small percentage of revenue for you. Now now the the fixed number for someone maybe only doing $10 a month in revenue, that'd be a very large number, but makes sense for where you're at in terms of scale. Are you guys profitable today or no?
Fabien Pinckaers
10:38>> Yes. We do $500,000 cash flow positive every month.
Nathan Latka
10:42500 k cash deposit per month. And what do you do with the 500? Is it just gonna sit in your bank account or or how do you choose to reallocate that?
Fabien Pinckaers
10:50>> That's my biggest problem nowadays. Yeah. It sits on the back bank account and it's yeah. I think it's an issue. I want to recruit faster, but we we we have difficulties recruiting faster, good developers.
Nathan Latka
11:01Would you ever deploy that capital and go buy companies to add to your product suite?
Fabien Pinckaers
11:06>> No. It's not our strategy. We prefer to grow organically. Mostly because we have a strong company culture and I'm not sure if we buy it, will just spread the culture. It wouldn't help. We have a way to operate which is very different from traditional companies. I'm afraid that if we buy, we will have complexity merging the two
Nathan Latka
11:25Tell me about that. How are you different than other companies in terms of how you're operating your culture?
Fabien Pinckaers
11:32>> It's extremely R and D, so everything is managed by developers. No meetings, extremely efficient.
11:42>> It's difficult to explain. There is no manager, it's mostly leaders and the people have more power than the manager usually. And so if someone comes with a title, nobody will listen to him.
Nathan Latka
11:54So of your five eighty, how many are engineers?
Fabien Pinckaers
11:58>> 50%.
Nathan Latka
11:5950%. Okay, so over kind of two seventy, two eighty are engineers. And let's say like break down the team that builds out your CRM app. Like who's the leader and how many team members and how do they work together?
Fabien Pinckaers
12:13>> We are not organized per app. We have organized across all apps. So if you take one app like Mailchimp to Send Email or Task Management, I would say 85 of what you have to do to build this app is generic. You need a mobile interface. You need to have a front end with drag and drop stuff, the UI. You need a back end and you need the subscription mechanisms to make your customer pay. All those things
12:43>> are generic. So what is very specific to an app is like a CRM is probably 5% of the value is in this really in the CRM, the rest isn't the same. Yeah. So our team are more transversal. We do have people focus on some big apps like accounting and I think I have 10 people maximum, which is one of the biggest.
Nathan Latka
13:02Interesting. Tell me quickly about your pricing page. It's one of the more unique pricing pages I've seen where I put a number of users at the top and then you have about 30 different checkboxes of things I can check to add on my apps. Then you have extra integrations like FedEx, DHL and EasyPost and eBay. I mean, is this page effective for you?
Fabien Pinckaers
13:20>> Yes. It took us a lot of years to understand the right way to do it. So basically we have two axes. One is per user, and you pay according to the number of user, and one is per application. So like if you need a CRM, it's a few dollars. If you need an accounting, it's a few dollars. Not related to the number of user, but if you and then you have a price per user.
Nathan Latka
13:42And then you essentially, it's a matrix and you multiply the two and that's how you get your price point.
Fabien Pinckaers
13:45>> No, we assume the two, not multiply.
Nathan Latka
13:48You sum them both.
13:52Yes. If I put 10 users in though, right, and I select your invoicing at $12 a month and your sales at $12 a month, you're saying, I mean, it would take so 12 plus 12 is 24 times the 10. Correct? 10 users.
Fabien Pinckaers
14:07>> No, it's not times. It's plus.
Nathan Latka
14:10I'm confused. You're multiplying users times the total sum of all the per seat. I mean, that's what your things doing right now. I'm looking at my screen 10 users for two products each $12 a month. It's $24 a month for invoicing and sales for 10 users. Yeah,
Fabien Pinckaers
14:26>> you have 10 users plus $20.
14:30>> I don't have the same number because the numbers depend on the countries.
Nathan Latka
14:34So you're saying the total pricing would be $30 a month?
Fabien Pinckaers
14:37>> Let me check I will check-in your country in United I
Nathan Latka
14:41think this might be a language thing that you and I are getting tripped up on because your pricing your pricing page is telling me 10 users times 24 is $2.40 then a user discount of $40. The total per month is $2.36.
Fabien Pinckaers
14:54>> What app did you choose? Yeah. Invoicing and
Nathan Latka
14:57I just want to get to the point of you're multiplying number of users times
Fabien Pinckaers
15:01>> Invoicing and sales is actually free because for us, if you use only a few apps, it's free. So let's add CRM. You will have 10 users multiplied by $20. Exactly.
Nathan Latka
15:13So it is multiplied. It's multiplied.
Fabien Pinckaers
15:16>> Just for the users. Yes. And then the apps is added.
Nathan Latka
15:18Yeah. Yeah. Yeah. That's what I meant. Yeah. Yeah. I thought we might just be getting caught up there. Yeah. That's what I meant. Yeah. By the way, I love it. It's I mean, your pricing page is built around your pricing axes, which I mean, I assume allows you to just drive incredible expansion of 30%, which you already articulated. So congratulations on that. Any plans to raise capital today? No. Any plans to exit?
Fabien Pinckaers
15:37>> No. We we might have a secondary exit to help one of our investor to to go out, but we plan to we have too much money. We don't know what to do. Yeah.
Nathan Latka
15:46So Why why would you do secondary though? Right? So like why not just pay yourself out operating dividends out of the 500 gain in
Fabien Pinckaers
15:52>> of It's cash flow from It's not for me. One of the VC, one of the front need to exit for his own reasons.
Nathan Latka
16:00Would you buy them out as the company using your cash flow?
Fabien Pinckaers
16:04>> No, it's too much.
Nathan Latka
16:05Oh, so you'd to raise a little bit. Yeah. Would you ever look at venture debt?
Fabien Pinckaers
16:10>> Yeah, but no, never. We had regular debt, but not venture debt.
Nathan Latka
16:15What would you consider venture? A lot of companies like Wistia are using venture debt to buy out early investors.
Fabien Pinckaers
16:20>> Yeah.
16:22>> That would be a lot. We are talking about hundreds of millions of dollars.
Nathan Latka
16:27Oh, they're asking you to pay a big multiple on the 12,000,000 they put in, not just help them recover the cash.
Fabien Pinckaers
16:33>> Oh, maybe. I'm not yet don't to be think.
16:39Yeah. Yeah.
16:39>> No one's worried.
Nathan Latka
16:40I basically just wanna understand. So, like they've put in 12,000,000 and what you're saying is you've talked to them, they want to get bought out, but they want get bought out at like a 10x multiple or like 100x multiple.
Fabien Pinckaers
16:51>> Yeah.
Nathan Latka
16:52And you're saying to raise that cash would be a lot.
Fabien Pinckaers
16:56>> Yeah. I think the cash will be way too much for the company to buy it, whether we use debt or not.
Nathan Latka
17:01Yeah. Okay. Very good, Fabian. Let's let's wrap up here with the famous five. Number one, what's your favorite business book?
Fabien Pinckaers
17:10>> Arowitz, the bad the
Nathan Latka
17:13Hard thing about hard things.
Fabien Pinckaers
17:14>> Yeah. Hard thing about hard things.
Nathan Latka
17:15Number two, is there a CEO you're following or studying? No. Number three, what billing tool do you guys use? Odoo. What's underlying? Like authorize.net or Stripe or what?
Fabien Pinckaers
17:28>> We have a mix according to the different according to the country. We use Stripe, we use Authorize and OGON, Ingenico. Spell it. Ingenico.
Nathan Latka
17:38Ingenico. Oh, yeah.
Fabien Pinckaers
17:39>> Yeah. G e n c o.
Nathan Latka
17:42Yeah. Number four. How many hours of sleep do get every night?
Fabien Pinckaers
17:45>> How many? Sleep? Seven.
Nathan Latka
17:47Okay. It's good. What's Two.
Fabien Pinckaers
17:49>> And I'd like to do more.
Nathan Latka
17:50What's your situation, Fabian? Married, single kids?
Fabien Pinckaers
17:52>> Married, two kids.
Nathan Latka
17:54Married, two kiddos. And how old are you?
Fabien Pinckaers
17:56>> Five seven. No. You? Ah, 39.
Nathan Latka
17:5939. Last question. What do you wish your 20 year old self knew?
Fabien Pinckaers
18:04>> I don't know.
Nathan Latka
18:06Guys, there you have it from Fabian. Started off as a services company back in 2005, then pivoted in 2010 into a SaaS company now serving 11,000 customers that paid about $203,100 bucks per month doing $2,600,000 per month or about $31,000,000 per year in terms of SaaS run rate. Another 9,000,000 on top of that in terms of professional services. They've done this by just raising $12,000,000 in capital, cash flow positive every month adding $500,000 in free cash
18:30flow to their bank account, five eighty people based between Belgium, US, New York City and other remote locations 20% revenue churn per year that's gross 30% net expansion means he's got about 110% net revenue retention annually spending $2,400 to get a new customer so a twelve month payback period Fabian thank you so much for taking us to the top.
Fabien Pinckaers
18:48>> Thank you.