What is ARR in finance?

Hello there, I'm curious about a term I've come across in finance, and I was wondering if you could help me understand it. I'm talking about ARR. What exactly does ARR stand for in the context of finance? Is it a metric used to evaluate the performance of a company or investment? How does it differ from other financial metrics, and what insights can it provide to investors and stakeholders? I'd really appreciate it if you could break it down for me in simple terms. Thank you!