As a public market investor, this sort of thing drives me batty. Many companies won't release an actual churn rate, but only a "dollar retention rate," as above

As a public market investor, this sort of thing drives me batty. Many companies won't release an actual churn rate, but only a "dollar retention rate," as above. Yelp is one of them. While the dollar retention rate is certainly nice to know, knowing the actual customer (logo) churn is critical to evaluating the cost of acquisition and overall profitability. As Jason points out, if it costs too much up-front to acquire each customer, you can still go broke even with a nice-looking dollar retention rate--you still have to pay to acquire the customers you lose.