The Annual Recurring Revenue Growth Report 2025

Key insights from the ARR Growth Report:

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• In the Viking Growth portfolio, we have seen a decline in total and organic ARR growth rates, but they have stabilized. Top-performing companies grew organically at an average rate of more than 30% year over year.
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• Sustainable growth requires more than new sales, and our best performers leverage all growth engines, new sales, expansion of existing customers, pricing, and acquisitions. Top performers maintained or increased deal volume and net revenue retention, and all of our companies have been able to increase ARR per customer.
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• New sales have gone down across our portfolio but have stabilized. Most of our companies have been able to increase the average selling price, helping to counterbalance the drop in deal volume. Even though new sales have been tough, they remain the primary driver for ARR growth
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• Pricing has been a key growth lever – and at the portfolio level, essential to achieving positive net revenue retention.

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