> ## Documentation Index
> Fetch the complete documentation index at: https://docs.equa.cc/llms.txt
> Use this file to discover all available pages before exploring further.
# Growth Metrics Framework
> KPI definitions, measurement formulas, data sources, and dashboard design for tracking Equa platform growth
# Growth Metrics Framework
This document defines the key performance indicators (KPIs) for measuring Equa's growth across acquisition, activation, retention, revenue, and referral dimensions (AARRR pirate metrics). Each KPI includes a definition, formula, data source, and target placeholder for operational tracking.
This is a measurement framework only -- no actual metrics are included. Populate the target and actual columns as data becomes available.
## Framework Overview
```mermaid theme={null}
graph LR
subgraph aarrr ["AARRR Funnel"]
Acq["Acquisition
How users find Equa"]
Act["Activation
First value moment"]
Ret["Retention
Users come back"]
Rev["Revenue
Users pay"]
Ref["Referral
Users invite others"]
Acq --> Act --> Ret --> Rev --> Ref
end
```
***
## 1. Acquisition
How new users and organizations discover and sign up for Equa.
| KPI | Definition | Formula | Data Source | Target |
| -------------------------------- | -------------------------------------------------------------------- | --------------------------------------------------- | --------------------------------------------------------- | --------- |
| **New Sign-ups** | Users who complete registration | Count of new `Users` records per period | `equa-server/modules/persistence` -- Users entity | *X/month* |
| **New Organizations** | Organizations created per period | Count of new `Organizations` records per period | `equa-server/modules/persistence` -- Organizations entity | *X/month* |
| **Landing Page Conversion Rate** | Percentage of landing page visitors who sign up | (New sign-ups / Landing page unique visitors) x 100 | Web analytics + Users table | *X%* |
| **AI Onboarding Starts** | Users who submit an initial prompt to Equanaut | Count of Equanaut onboarding sessions initiated | `equa-web/src/modules/equanaut/` session tracking | *X/month* |
| **Channel Mix** | Distribution of sign-ups by source (direct, organic, referral, paid) | Percentage breakdown of sign-up attribution | Web analytics UTM tracking | -- |
## 2. Activation
The "aha moment" when a new user gets first value from the platform.
| KPI | Definition | Formula | Data Source | Target |
| --------------------------------- | --------------------------------------------------------------------------- | ----------------------------------------------------------- | -------------------------------------------------------------------- | --------- |
| **AI Onboarding Completion Rate** | Percentage of Equanaut sessions that result in a fully configured workspace | (Completed setups / Onboarding starts) x 100 | `equa-server/modules/agent/` -- agent session outcomes | *X%* |
| **Time to First Cap Table** | Median time from sign-up to first shareholder added | Median(first\_shareholder\_created\_at - user\_created\_at) | Users + Shareholdings timestamps | *X hours* |
| **Organizations with Holders** | Percentage of organizations that add at least one holder | (Orgs with holders > 0 / Total orgs) x 100 | `getHolderCount()` from `equa-server/modules/billing/src/writing.ts` | *X%* |
| **Document Upload Rate** | Percentage of organizations that upload at least one document | (Orgs with documents / Total orgs) x 100 | `equa-server/modules/data-room/` file records | *X%* |
| **ESOP Plan Creation Rate** | Percentage of organizations that create at least one equity incentive plan | (Orgs with plans / Total orgs) x 100 | Plans entity in `equa-server/modules/persistence/` | *X%* |
## 3. Retention
Whether users continue to use the platform over time.
| KPI | Definition | Formula | Data Source | Target |
| -------------------------------- | -------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------- | ------------------------------------------------ | ---------------- |
| **Monthly Active Organizations** | Organizations with at least one login or API call per month | Count of distinct organizations with activity per month | `equa-server/modules/activity/` activity records | *X/month* |
| **Cap Table Update Frequency** | Average cap table modifications per active organization per month | Total cap table events / Active organizations | Activity records filtered by cap table events | *X/org/month* |
| **30-Day Retention Rate** | Percentage of organizations active in month N that are still active in month N+1 | (Active orgs in month N+1 that were active in month N / Active orgs in month N) x 100 | Activity records | *X%* |
| **Feature Breadth Score** | Average number of distinct feature modules used per active organization | Count of distinct module categories used per org (equity, docs, finance, etc.) | Activity records by module | *X/5 categories* |
| **Data Room Session Frequency** | Average data room views per organization per month | Total data room access events / Organizations with data rooms | `equa-server/modules/data-room/` access logs | *X/org/month* |
## 4. Revenue
How effectively the platform converts users to paying customers and grows revenue.
| KPI | Definition | Formula | Data Source | Target |
| ------------------------------------------- | --------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------- | --------------- |
| **Monthly Recurring Revenue (MRR)** | Total recurring revenue normalized to a monthly figure | Sum of (annual subscription amounts / 12) for all active subscriptions | Chargify subscription data via `equa-server/modules/billing/` | *\$X/month* |
| **Average Revenue Per Organization (ARPO)** | Average monthly revenue per paying organization | MRR / Count of organizations with active subscriptions | Chargify + Organizations table | *\$X/org/month* |
| **Holder Expansion Rate** | Rate at which paying organizations add new holders (expanding their subscription) | (New holders added to paying orgs per month / Total holders in paying orgs) x 100 | `updateSubscriptionMemberCount()` in `equa-server/modules/billing/src/writing.ts` (lines 275-294) | *X%/month* |
| **Free-to-Paid Conversion Rate** | Percentage of START organizations that upgrade to GROWTH | (START orgs that purchased GROWTH in period / Total START orgs at start of period) x 100 | Chargify subscription creation events | *X%/month* |
| **Churn Rate (Revenue)** | Percentage of MRR lost to cancellations per month | (MRR lost to cancellations in month / MRR at start of month) x 100 | Chargify cancellation events via `cancelOrganizationSubscription()` | *X%/month* |
| **Lifetime Value (LTV)** | Predicted total revenue from an average paying organization | ARPO / Monthly churn rate | Derived from ARPO and churn | *\$X* |
| **LTV:CAC Ratio** | Ratio of customer lifetime value to customer acquisition cost | LTV / CAC | LTV calculation + marketing spend tracking | *X:1* |
| **Equa Cash Redemption Rate** | Percentage of earned Equa Cash that is redeemed | (Equa Cash redeemed / Equa Cash earned) x 100 | `Referrals.equaCash` and `Transactions` in `equa-server/modules/billing/src/writing.ts` (lines 195-209) | *X%* |
## 5. Referral
How effectively existing users bring new users to the platform.
| KPI | Definition | Formula | Data Source | Target |
| ------------------------------------- | ---------------------------------------------------------------------- | ---------------------------------------------------------------------- | ------------------------------------------------ | --------- |
| **Referral Rate** | Percentage of active organizations that generate at least one referral | (Orgs with referrals / Active orgs) x 100 | `equa-server/modules/referral/` referral records | *X%* |
| **Viral Coefficient** | Average number of new users each existing user brings | (Referral invites sent x Invite conversion rate) per user | Referral tracking + sign-up attribution | *X* |
| **Equa Cash Earned per Organization** | Average credits earned through referral program | Total Equa Cash distributed / Organizations with referrals | `Referrals` table `equaCash` field | *\$X/org* |
| **Referral-to-Paid Conversion** | Percentage of referred sign-ups that become paying customers | (Referred users who upgrade to GROWTH / Total referred sign-ups) x 100 | Referral attribution + Chargify subscriptions | *X%* |
***
## Equity-Platform-Specific KPIs
These metrics are unique to equity management platforms and track the core value delivered.
| KPI | Definition | Formula | Data Source |
| ------------------------------ | -------------------------------------------------------------- | ----------------------------------------- | -------------------------------- |
| **Total Holders Managed** | Cumulative shareholders/members across all organizations | Sum of `getHolderCount()` across all orgs | Billing member component |
| **Securities Issued** | Number of electronic securities created on the platform | Count of Shareholdings records | Persistence layer |
| **Agreements Generated** | Legal documents generated through doc-gen | Count of generated agreements | `equa-server/modules/doc-gen/` |
| **Transfers Executed** | Share transfers processed through the platform | Count of transfer transactions | Captable module activity |
| **Options Exercised** | Stock options exercised by holders | Count of exercise events | ESOP module |
| **Cap Table Accuracy Score** | Self-reported accuracy of cap table data (via periodic survey) | Survey average (1-10 scale) | External survey tool |
| **Data Room Documents Stored** | Total documents stored across all data rooms | Count of files in data rooms | `equa-server/modules/data-room/` |
***
## Dashboard Design Recommendations
### Executive Dashboard (Weekly Review)
| Section | Metrics | Visualization |
| ------------------- | -------------------------------------------------- | ---------------------------- |
| **Funnel Overview** | Sign-ups, activation rate, conversion rate, MRR | Horizontal funnel chart |
| **Revenue** | MRR trend, ARPO, churn rate, LTV | Line chart (12-month trend) |
| **Growth** | New organizations, holder expansion, referral rate | Bar chart (month-over-month) |
| **Platform Health** | Active organizations, feature breadth, retention | Gauge charts |
### Operational Dashboard (Daily)
| Section | Metrics | Visualization |
| -------------------- | --------------------------------------------------------- | ----------------------- |
| **Today's Activity** | New sign-ups, onboarding completions, support tickets | Counter cards |
| **Billing** | New subscriptions, cancellations, Equa Cash redemptions | Table with daily counts |
| **Engagement** | Cap table updates, documents uploaded, data room sessions | Activity stream |
### Board/Investor Report (Monthly)
| Section | Metrics | Format |
| -------------------- | -------------------------------------------------- | ----------------------------------------------- |
| **Headline Numbers** | MRR, total organizations, total holders, LTV:CAC | Single-number cards with month-over-month delta |
| **Cohort Analysis** | Retention by sign-up month | Cohort heatmap |
| **Unit Economics** | ARPO, CAC, LTV, payback period | Summary table |
| **Product** | Feature adoption rates, AI onboarding success rate | Horizontal bar chart |
***
## Measurement Implementation Notes
### Data Sources
| Source | What It Provides | Access Method |
| ------------------------ | ------------------------------------------------ | ----------------------------------------------- |
| PostgreSQL (equa-server) | User, organization, holder, activity records | Direct database queries or read replicas |
| Chargify | Subscription, billing, payment data | Chargify API via `equa-server/modules/billing/` |
| Web Analytics | Traffic, conversion funnels, channel attribution | Google Analytics or equivalent |
| Activity Module | Feature usage, event tracking | `equa-server/modules/activity/` |
| Referral Module | Referral chains, Equa Cash balances | `equa-server/modules/referral/` |
### Recommended Tooling
| Tool Category | Purpose | Options |
| ------------------- | ----------------------------- | ----------------------------------------- |
| **BI/Dashboard** | Visualization and reporting | Metabase (open-source), Looker, or Retool |
| **Data Warehouse** | Historical metric storage | PostgreSQL read replica or BigQuery |
| **Alerting** | Threshold-based notifications | Grafana alerts or custom webhooks |
| **Cohort Analysis** | Retention and LTV modeling | Amplitude, Mixpanel, or custom SQL |
### Implementation Priority
1. **Phase 1:** Revenue metrics (MRR, ARPO, churn) -- available immediately from Chargify data
2. **Phase 2:** Acquisition and activation metrics -- requires activity tracking instrumentation
3. **Phase 3:** Retention cohort analysis -- requires 3+ months of activity data
4. **Phase 4:** Referral and viral metrics -- requires referral attribution tracking
5. **Phase 5:** Board-ready dashboards with automated reporting