How marketplace companies actually talk about their numbers

Original: What metrics do Marketplace companies report on?

CJ Gustafson

May 29, 2025

7 min read

Research

Intermediate

Business Understanding

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What metrics do Marketplace companies report on?

Summary

Covers key revenue metrics for marketplace businesses, including gross vs. net revenue, recurring vs. non-recurring, bookings vs. billings, and other accounting-aligned measures. Explores cohort analysis, revenue waterfalls, and drivers of expansion and churn.

Who This Is For

Business Analysts

Product Managers

Founders

Key Takeaways

All marketplace companies report revenue and GMV, but take rate is the secret sauce metric that shows how they monetize
Adjusted EBITDA and Non-GAAP Net Income are universally reported because investors want to see a path to profitability
User metrics vary wildly by business model - from Monthly Active Users to Active Hosts to dealer relationships
Most companies guide on top-line metrics (Revenue, GMV) and profitability measures, but rarely provide forward guidance on operational metrics
Revenue multiples are down week-over-week with median EV/NTM Revenue at 16.1x across the marketplace sector

Tools & Technologies

NetSuite Koyfin fleet.so

Topics Covered

metrics revenue-analytics saas-metrics unit-economics

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