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Spending 190 million once for customers paying 160 million a year is maybe not a bad deal. Often large saas companies have positive net revenue retention.

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"Additionally, our Net Dollar Retention rate for all of our customers was 100%, 105% and 107% for the three months ended December 31, 2019 and 2020 and March 31, 2021"

Above water, but low for SaaS: https://miro.medium.com/max/1400/1*M7c6_AvmAF0ehB7ebbpAeg.pn...

Via: https://medium.com/@alexfclayton/saas-ipo-net-dollar-retenti...

What type of vendor lock in does this have to keep those customers? As far as I can tell, there are lots of tools that do something similar.

Often, user preference and switching cost alone are enough.

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