These are the 4 Growth Accounting user segments from PostHog:

Users who are active for the first time ever in this period. They've never used the product before.

Users who were active in the previous period and are active again in the current period. They came back consistently — your core retained users.

Users who were inactive for one or more periods (went dormant) but have come back and are active again. They churned at some point but returned.

Users who were active in a previous period but are not active in the current period. These are users you lost — shown as negative values on the chart because they represent a loss.

The bars above zero (New + Returning + Resurrecting) represent users you're gaining or keeping. The bars below zero (Dormant) represent users you're losing. When the positive bars outweigh the negative ones, your user base is growing net-positive.

From your chart, it looks like you consistently have significant dormant churn (large red bars below 0), which is being partially offset by resurrecting and new users.