The report closed. The number looked right. Somewhere upstream, jobs from ninety days ago are still deciding whether they are revenue or not.
April was a strong month.
The report said so. Signed contracts up. Pipeline healthy. Sales team hitting numbers.
February is still settling.
The jobs signed in February are still moving through the system. Some installed. Some waiting. A few cancelled after the cooling-off window. One financing approval came back denied in week three. Two scheduled installs pushed to late April and haven't run yet.
None of that is in the April report.
The April report reflects what settled in April. Not what February produced.
This is not a reporting error.
The report is accurate.
It is measuring the accounting close, not the cohort outcome. Those are different things. The accounting close tells you what settled. The cohort tells you what a group of contracts actually became.
Most operations track one of those.
Almost none track both.
The lag between signing and settling changes by product, source, and rep.
A cooling-off cancel arrives in days.
A finance fallout arrives in weeks.
A pre-install cancel arrives in weeks to months.
A post-install dispute can arrive in a quarter that looks nothing like the quarter the job was signed in.
The operation celebrating April is making decisions based on April's number.
Hiring decisions.
Lead spend decisions.
Capacity decisions.
February is still settling. The decisions being made on April's number will be executed against whatever February actually produced.
The month looked strong.
Those jobs are still deciding what they are.
The report already closed. The cohort has not.
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Retained Revenue: The Number Between What You Sold and What You Kept →