      SaaStr · 2012-08-23
      · 5033d
    

SaaS Revenue Verification: Analyzing Inc. 5000 Companies' Audited Financials

Jason Lemkin analyzes verified 2011 GAAP revenues from SaaS companies that appeared on the Inc. 5000 list, revealing that most non-public SaaS companies misrepresent their actual revenue figures. The article provides audited financial data for 25+ SaaS companies, demonstrating significant discrepancies between claimed and verified revenues while offering insights into which market segments generate the most sustainable revenue.

10 metrics· Cited 0× in the knowledge base ·Open source ↗

Metrics in this report

Acquia 2011 GAAP Revenue

21.8$m

actual

SaaS, Inc. 5000 rank #8

AdRoll 2011 GAAP Revenue

12.4$m

actual

SaaS, Inc. 5000 rank #7

Bazaarvoice 2011 GAAP Revenue

64.5$m

actual

Marketing SaaS, Inc. 5000 rank #667

BigMachines 2011 GAAP Revenue

49.8$m

actual

Sales SaaS, Inc. 5000 rank #1129

Bullhorn 2011 GAAP Revenue

33.6$m

actual

HR SaaS, Inc. 5000 rank #2987

Coupons.com 2011 GAAP Revenue

91.1$m

actual

Marketing SaaS, Inc. 5000 rank #806

Demandware 2011 GAAP Revenue

56.5$m

actual

E-commerce SaaS, Inc. 5000 rank #563

HubSpot 2011 GAAP Revenue

28.5$m

actual

Marketing SaaS, Inc. 5000 rank #314

HubSpot Revenue Overstatement

20%

less than PR claims

typical variance in SaaS company claims

Marketo 2011 GAAP Revenue

32.9$m

actual

Marketing Automation SaaS, Inc. 5000 rank #78