CRM LT Margins

	B	C	D	E	F	G	I	J	K
1
2	Fiscal Period:			FY2019	FY2020	FY2021
3	Period End:			1/31/2019	1/31/2020	1/31/2021

4	Non-GAAP			FY2019	FY2020	FY2021	Methodology 1: Simple Sales Efficiency
5			Subscription and support	12,413	16,043	19,976	Gross Margin:
6			Professional services and other	869	1,055	1,276		Software % Revenue	94%
7		Total revenues		13,282	17,098	21,252		Software Gross Margin	83%
8			YoY Growth		28.7%	24.3%
9			% Professional Services	6.5%	6.2%	6.0%		Services % Revenue	6%
10			Pro Services Attach %	7.0%	6.6%	6.4%		Services Gross Margin	-1%
11
12			Subscription and support	2,228	2,554	3,251		Consolidated Gross Margin	78%
13			Professional services and other	847	1,037	1,284
14		Total cost of revenues		3,075	3,591	4,535	Sales Productivity:
15								Revenue Churn	9%
16			Subscription and support	10,185	13,489	16,725		Steady State Growth	10%
17			Professional services and other	22	18	-8		CAC Ratio	1.54
18		Gross profit		10,207	13,507	16,717		% S&M	25%
19
20			Subscription and support	82.1%	84.1%	83.7%	Other OpEx:
21			Professional services and other	2.5%	1.7%	-0.6%		% R&D	15%
22		Gross Profit Margin		76.8%	79.0%	78.7%		& G&A	10%
23
24			Research and development	1,579	2,256	2,895	Steady State Margins:
25			Marketing and sales	5,189	6,726	8,274		Gross Margin	78%
26			General and administrative	1,174	1,485	1,782		S&M	25%
27		Total operating expenses		7,942	10,467	12,951		R&D	15%
28								G&A	10%
29			Research and development	12%	13%	14%	EBIT Margin Potential		28%
30			Marketing and sales	39%	39%	39%
31			General and administrative	9%	9%	8%
32		OpEx % Revenue		60%	61%	61%
33
34		Non-GAAP EBIT		2,265	3,040	3,766
35		EBIT Margin		17.1%	17.8%	17.7%
36
37	SaaS Metrics
38		Estimated Churn			9%	9%
39		Gross Added Revenue			4,747	5,377
40		CAC Ratio			1.42	1.54
41
42	GAAP			FY2019	FY2020	FY2021
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