Figure 318 Aug 2026From “The metric didn't die. The cohort did.”

Leavers and stayers, coded on one rule

The point estimates are close; this descriptive check does not establish the absence of selection bias.

Figure 3Leavers and stayers, coded on one rule

Source: The final annual report of all 30 departed companies, pulled from SEC EDGAR and coded on the same rule as the panel: 18 of 30 disclose, 60.0% (17 net, 1 both, 12 none). The survivor bar is the balanced panel at fiscal 2025, 59 of 96, 61.5%. This is a descriptive selection check for the four-year series. Single coder; a second pass is owed. Corpus: departed-coding-2026-08-18.json.

PNG4:3, 1600 × 1200, with the title, the source line and the attribution set in the image isoglu-2026-the-metric-didnt-die-the-cohort-did-fig03.png

From the essay

From the research bench

The metric didn't die. The cohort did.

Software companies are said to be quietly retiring net retention disclosure. Across 104 companies and 438 annual filings, the rate did not move.

18 Aug 2026

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APA 7

Isoglu, S. (2026). Leavers and stayers, coded on one rule [Figure]. isoglu.com. https://isoglu.com/insights/exhibits/isoglu-2026-the-metric-didnt-die-the-cohort-did-fig03/

BibTeX

@misc{isoglu-2026-the-metric-didnt-die-the-cohort-did-fig03,
  author = {Isoglu, Sinan},
  title = {{Leavers and stayers, coded on one rule}},
  year = {2026},
  howpublished = {Figure 3, isoglu.com},
  url = {https://isoglu.com/insights/exhibits/isoglu-2026-the-metric-didnt-die-the-cohort-did-fig03/},
  note = {From the essay {The metric didn't die. The cohort did.}}
}

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<figure>
  <a href="https://isoglu.com/insights/exhibits/isoglu-2026-the-metric-didnt-die-the-cohort-did-fig03/">
    <img src="https://isoglu.com/social/isoglu-2026-the-metric-didnt-die-the-cohort-did-fig03.png" alt="Figure 3: Leavers and stayers, coded on one rule" width="3200" height="2400">
  </a>
  <figcaption>Figure 3: Leavers and stayers, coded on one rule. Source: The final annual report of all 30 departed companies, pulled from SEC EDGAR and coded on the same rule as the panel: 18 of 30 disclose, 60.0% (17 net, 1 both, 12 none). The survivor bar is the balanced panel at fiscal 2025, 59 of 96, 61.5%. This is a descriptive selection check for the four-year series. Single coder; a second pass is owed. Corpus: departed-coding-2026-08-18.json. <a href="https://isoglu.com/insights/exhibits/isoglu-2026-the-metric-didnt-die-the-cohort-did-fig03/">View exhibit</a>.</figcaption>
</figure>