Depending on context, either (a) the value of new customer contracts signed in a period, excluding renewals or expansions of existing accounts, or (b) net booking value — bookings after cancellations and adjustments are deducted. The specific meaning depends on the industry; always confirm which definition a given report is using.
Why it matters
Distinguishing new business from renewal or expansion revenue is critical for understanding whether growth is coming from net-new customer acquisition or from an existing base — two very different growth stories that get blended together in a single top-line revenue number.
In a sentence
"NBV was flat this quarter, but our expansion revenue from existing accounts grew — worth digging into whether that's a top-of-funnel problem."
Related terms
- Antonyms: Renewal revenue, expansion revenue (both represent revenue from existing accounts rather than new business).
- Often confused with: GBV/GMV (different metrics entirely — NBV in the "new business value" sense refers to net-new contract value, not total transaction volume). Always clarify which definition of NBV is in use, since the acronym isn't fully standardized across industries.
- Synonyms: New business bookings, net-new ARR (in SaaS contexts).