MRR (Monthly Recurring Revenue)

MRR is ARR / 12 for cleanly billed subscription books, but real businesses have one-time fees, ramp deals, and mid-month starts that make the two reconcile imperfectly. The diligence question is always 'how is MRR defined here, and where does it diverge from billings?' Cohort movement (new, expansion, contraction, churn) at the MRR level is the cleanest read on commercial health.