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  "documentTitle": "2024 Financial Analyst Day",
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  "notes": "This slide serves as a technical disclosure/glossary for financial metrics.",
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      "text": "Gross Revenue Retention Rate",
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      "text": "Gross Revenue Retention Rates\n\nGross revenue retention rates measure the percentage of recurring revenue retained from existing customers. The metric takes into account recurring revenues lost to product or customer churn, and does not account for additional revenue earned from add-ons or net expansions, which include volume and price adjustments. Gross revenue retention rates are calculated by taking the current period-end annual recurring revenue (\"ARR\") of our customers that we retained year-over-year, excluding add-ons and net expansions, divided by the total ARR from that same set of customers at the end of the corresponding prior period.\n\nOur gross revenue retention rates are based on ARR, which represents the annualized value of active subscription contracts as of the end of each period. Each subscription contract is annualized by dividing the total contract value by the number of days in the contract term and then multiplying by 365. We exclude certain subscription contracts from the calculation, including contracts with terms less than one year that are distinct from our core product offering, such as contracts for tenants which are used for implementation and testing. To the extent that we are negotiating a renewal with a customer after the expiration of the subscription, ARR is not adjusted until a draft renewal agreement is signed or the customer churns. We calculate ARR on a constant currency basis using exchange rates set at the beginning of each fiscal year. ARR is a non-GAAP financial measure and should be viewed independently of, and not as a substitute for or combined with, revenue and unearned revenue.",
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      "text": "Other Business Metrics",
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