In SaaS industries, bookings are the sum of all the committed revenue in your contracts. SaaS bookings are the product of a SaaS company's recurring revenue stream. They are basically contracts that allow the client to pay for services on an ongoing basis. These bookings can be paid for in one lump sum, or they can be paid for overtime with small increments each month or year.
Let's say that in that July you have 3 contracts:
- Contract 1: A month to month cancelable contract with a value of $400 a month.
- Contract 2: An annual contract where the customer pays $1,200 all upfront.
- Contract 3: A 3 year committed contract worth $30,000 but paid annually.
Your bookings are the sum of the committed revenue, so in this example, your July bookings are $31,600. $400 from contract 1, $1,200 for contract 2 and $30,000 for contract 3.
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