Yes exactly. The best SaaS businesses have high NDR (in excess of 130%). Companies with bottoms-up models like Slack, etc have really attractive net dollar retention as these apps typically grow organically within an organization. This creates a lot of leverage on S&M resources.
Unfortunately as it stands, the data is only from the year of IPO and before. In a future analysis I’ll update to include post-IPO data so the dataset is more robust at the higher revenue ranges.