349 observations · 247 reports · 10 publishers

Net Retention Rate.

Every Net Retention Rate observation from our practitioner benchmark corpus. Latest: Clouded Judgement (2026).

← All benchmark reports
Observations
349
Reports
247
Publishers
10
Latest
Clouded Judgement
2026-03-27
109 percent
Clouded Judgement
2026
median
Public SaaS companies
Clouded Judgement: From GPU Hours to Token Dollars—Pricing AI Infrastructure for the Inference Era →
73.0 percent
OnlyCFO
2026
Q1FY24 baseline for tracked cohort
OnlyCFO Newsletter: Revenue Durability, AI Disruption, and the SaaS Reckoning →
109 percent
Clouded Judgement
2026
median
Public SaaS companies in index
Clouded Judgement: Digital Twins as the Infrastructure Layer for AI Agents →
109 percent
Clouded Judgement
2026
median
SaaS public companies
Clouded Judgement: In Defense of Model Lab Profitability →
125 %
Tomasz Tunguz
2026
median
25 public software companies in 2022
AI Commoditization and the Collapse of Net Dollar Retention in SaaS →
112 %
Tomasz Tunguz
2026
median
25 public software companies in 2025
AI Commoditization and the Collapse of Net Dollar Retention in SaaS →
106 %
Tomasz Tunguz
2026
p25
public software companies in 2025
AI Commoditization and the Collapse of Net Dollar Retention in SaaS →
101 %
Tomasz Tunguz
2026
p25
public software companies in Q1 2026
AI Commoditization and the Collapse of Net Dollar Retention in SaaS →
98 %
Tomasz Tunguz
2026
company-specific
Zoom Technologies (2026)
AI Commoditization and the Collapse of Net Dollar Retention in SaaS →
96 %
Tomasz Tunguz
2026
company-specific
Asana Q4 FY2026
AI Commoditization and the Collapse of Net Dollar Retention in SaaS →
94 %
Tomasz Tunguz
2026
company-specific
Bill.com (2026)
AI Commoditization and the Collapse of Net Dollar Retention in SaaS →
109 percent
Clouded Judgement
2026
median
Cloud SaaS companies
Get in the Token Path: Infrastructure Monetization in the AI Era →
109 percent
Clouded Judgement
2026
median
SaaS public companies
Clouded Judgement: The Poison of Inertia →
1994 year
a16z
2026
first
Marc Andreessen's first sales call to the Pentagon
American Dynamism: How Silicon Valley and Defense Can Realign →
108 percent
Clouded Judgement
2026
median
SaaS companies in Jamin Ball's quarterly report sample
Clouded Judgement: The SSD/Memory Reckoning →
108 percent
Clouded Judgement
2026
median
Public SaaS companies
Clouded Judgement: Software Valuations in the Age of AI Disruption →
108 percent
Clouded Judgement
2026
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Compression and the Terminal Value Crisis →
108 percent
Clouded Judgement
2026
median
Public SaaS companies
Clouded Judgement: The Year of Multi-Modal AI and SaaS Valuation Analysis →
108 percent
Clouded Judgement
2026
median
Public SaaS companies
Clouded Judgement: Platform of Platforms →
108 percent
Clouded Judgement
2026
median
Public SaaS companies
Clouded Judgement: The Education Advantage in AI →
13000000 USD
OnlyCFO
2026
Total capital raised across four funding rounds (Oct 2020 - Sept 2023) prior to shutdown
SEC Charges Software Company With Fraud: ComplYant Case Study & Board Controls →
108% percent
Clouded Judgement
2026
median
Public SaaS companies
Clouded Judgement: Authority Is the AI Bottleneck →
100% percent
High Alpha
2025
median
SaaS companies with <$1M ARR
2025 SaaS Benchmarks Report by High Alpha →
104% percent
High Alpha
2025
median
SaaS companies with $1-5M ARR
2025 SaaS Benchmarks Report by High Alpha →
103% percent
High Alpha
2025
median
SaaS companies with $5-20M ARR
2025 SaaS Benchmarks Report by High Alpha →
103% percent
High Alpha
2025
median
SaaS companies with $20-50M ARR
2025 SaaS Benchmarks Report by High Alpha →
101% percent
High Alpha
2025
median
SaaS companies with >$50M ARR
2025 SaaS Benchmarks Report by High Alpha →
108% percent
Clouded Judgement
2025
median
SaaS companies at scale
Clouded Judgement: Exuberance Returning to Venture Markets in 2026 →
108 percent
Clouded Judgement
2025
median
Public SaaS companies
Clouded Judgement: Systems of Record and the Battle for the AI Front Door →
130 percent
drive.google.com
2025
minimum best-in-class
AI-native companies
The State of AI Report: December 2025 →
108 percent
Clouded Judgement
2025
median
Public SaaS companies in sample
Clouded Judgement: Systems of Record in the Age of AI Agents →
108 percent
Clouded Judgement
2025
median
SaaS companies
Clouded Judgement: Q3 2025 SaaS Earnings Check-In →
108 percent
Clouded Judgement
2025
median
Public SaaS companies
Clouded Judgement: The AI Platform Wars →
101 percent
KeyBanc
2025
median
Private SaaS companies in 2024; expected to reach 102% in 2025 and 104% in 2026
KeyBanc Capital Markets & Sapphire Ventures 2025 SaaS Survey: AI-Driven Growth & Profitability Focus →
108 percent
Clouded Judgement
2025
median
Public SaaS companies
Clouded Judgement: Cloud Giants Report Q3 2025 – Capacity, AI Demand, and SaaS Valuation Multiples →
110-120 %
ICONIQ
2025
healthy range
Software market broadly
State of Software 2025: Efficient Growth and AI-Driven Operating Models →
110-120 %
ICONIQ
2025
median
Software industry in 2025
ICONIQ Enterprise Five: Key Performance Indicators for Software Companies in 2025 →
110-120 %
ICONIQ
2025
range
all software companies, particularly strong for early-stage in 2025
State of Software 2025: Growth & Operational Efficiency Benchmarks for SaaS Leaders →
130% percent
drive.google.com
2025
top-quartile
Software companies <$10M ARR
State of Software 2025: Rethinking the Playbook - Annual Topline Growth and Operational Efficiency Report →
120% percent
drive.google.com
2025
top-quartile
Software companies $25M-$100M ARR
State of Software 2025: Rethinking the Playbook - Annual Topline Growth and Operational Efficiency Report →
118% percent
OnlyCFO
2025
Netskope as of July 31, 2025 (H1'FY26)
Netskope IPO: Window Dressing or Real Growth — Pre-IPO Financial Optimization Tactics in SaaS →
113% percent
OnlyCFO
2025
Netskope as of July 31, 2024 (H1'FY25)
Netskope IPO: Window Dressing or Real Growth — Pre-IPO Financial Optimization Tactics in SaaS →
113% percent
OnlyCFO
2025
Netskope H1'FY25 (six months ended July 31, 2024)
Netskope IPO: Window Dressing or Real Growth — Pre-IPO Financial Optimization Tactics in SaaS →
93-250% %
Jurassic
2025
25th-99th percentile
$5-20M ARR companies
B2B SaaS Benchmarks Report 2025 →
101% %
Jurassic
2025
median
$5-20M ARR companies
B2B SaaS Benchmarks Report 2025 →
30000000.0 dollars
OnlyCFO
2025
approximately
Meow's total capital raised across all rounds
Building Lean to Win: Treasury Best Practices, Fraud Controls, and Meow's Efficiency-Driven Disruption Model →
132 percent
OnlyCFO
2025
best-in-class
Figma Q1 2025 among public cloud companies
Figma S-1 | The IPO Bar is High →
120 percent
drive.google.com
2025
best-in-class
SaaS companies commanding premium valuations
SaaS Valuation Multiples: 2025 – A Comprehensive Analysis of Current Market Trends →
106 percent
drive.google.com
2025
median
SaaS companies, 2025
SaaS Valuation Multiples: 2025 – A Comprehensive Analysis of Current Market Trends →
101% percent
OnlyCFO
2025
top-quartile
ICONIQ portfolio companies $100M-$200M ARR, H1 2025 (red flag level)
State of GTM: Data & Insights from the Latest ICONIQ Report →
108 percent
OnlyCFO
2025
Asana $50K+ customers at peak (5+ quarters prior)
Asana vs monday.com: Why The Market Got The Valuation Wrong In 2021 →
95 percent
OnlyCFO
2025
Asana $50K+ customers as of article date (2025)
Asana vs monday.com: Why The Market Got The Valuation Wrong In 2021 →
112 percent
OnlyCFO
2025
monday.com $50K+ customers as of article date (2025)
Asana vs monday.com: Why The Market Got The Valuation Wrong In 2021 →
92.8 percent
cdn.prod.website-files.com
2025
median
Seed-stage, 1-10 employee companies
2025 SaaS Growth Benchmarks Report →
128.6 percent
cdn.prod.website-files.com
2025
median
Public, 1000+ employee companies
2025 SaaS Growth Benchmarks Report →
101 percent
drive.google.com
2025
median
B2B SaaS companies, 2024
2025 B2B SaaS Performance Metrics Benchmarks Report →
110 percent
drive.google.com
2025
median
Subscription + Usage-based pricing, 2024
2025 B2B SaaS Performance Metrics Benchmarks Report →
108 percent
Clouded Judgement
2025
median
SaaS public companies
Clouded Judgement: Bond Market Volatility, Treasury Auctions, and SaaS Valuation Multiples →
130 percent
Clouded Judgement
2025
best-in-class
B2B SaaS businesses (general market)
Clouded Judgement: Q4 '24 Public Cloud Software Earnings Analysis →
115 percent
Clouded Judgement
2025
minimum
B2B SaaS businesses (good performance threshold)
Clouded Judgement: Q4 '24 Public Cloud Software Earnings Analysis →
120 percent
Clouded Judgement
2025
best-in-class
SMB-focused SaaS companies
Clouded Judgement: Q4 '24 Public Cloud Software Earnings Analysis →
109% percent
OnlyCFO
2025
top-quartile
Public SaaS companies and private companies $100M+ ARR
2026 State of GTM | Benchmarks & Data →
109 percent
OnlyCFO
2025
median
Public software companies
How Low Can Figma Go? Post-IPO Performance and AI Investment Challenges →
108 percent
Clouded Judgement
2025
median
Public SaaS companies
Clouded Judgement: M&A Roars Back →
109 percent
Clouded Judgement
2025
median
Public SaaS companies
Clouded Judgement: Q4 2024 Software Earnings & SaaS Valuation Analysis →
102% percent
OnlyCFO
2025
Fastly current quarter (down from 105% prior quarter, 113% YoY)
Fastly's Collapse: Lessons in Broken Unit Economics and SaaS Valuation Destruction →
97 percent
OnlyCFO
2025
Amplitude current metric; compared to median for public SaaS
Lessons From Amplitude's Fall: Direct Listings, Extended PTEPs, and NRR Death Spirals →
110 percent
OnlyCFO
2025
median
Public SaaS companies; appears to be 2025 floor after steady decline since early 2022
The NRR Death Spiral: Contextualizing Net Revenue Retention Against GTM Efficiency →
120 percent
OnlyCFO
2025
best-in-class
Implied benchmark from industry discourse; article cautions against universal application
The NRR Death Spiral: Contextualizing Net Revenue Retention Against GTM Efficiency →
109 percent
Clouded Judgement
2025
median
Public SaaS companies
Clouded Judgement: December Inflation Data & SaaS Valuation Multiples →
109 percent
Clouded Judgement
2025
median
SaaS companies
Clouded Judgement: Rising Rates and SaaS Valuation Multiples in a High-Growth Environment →
109 percent
Clouded Judgement
2024
median
Software universe
Clouded Judgement: Beat and No Raise? – SaaS Multiple Expansion Without Earnings Growth →
110 percent
OnlyCFO
2024
median
Public cloud companies that report NRR
2025: Revenue Retention or Bust – GRR vs NRR in Cloud SaaS →
110 percent
OnlyCFO
2024
Example company with $25M starting ARR, $1.5M churn, and $4M expansion
2025: Revenue Retention or Bust – GRR vs NRR in Cloud SaaS →
108 percent
Clouded Judgement
2024
median
SaaS companies overall
Clouded Judgement: Are Software Valuations Cheap or Expensive? →
110 percent
OnlyCFO
2024
best-in-class
ServiceTitan's 10+ quarter track record (110%+)
U.S. software unicorn creation has outpaced IPO and M&A volume; AI isn't a panacea for all startups →
>110 percent
Clouded Judgement
2024
minimum
ServiceTitan, SaaS expansion revenue benchmark
ServiceTitan S-1 Filing: SaaS Benchmarking Analysis for Pre-IPO Home Services Platform →
110 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Market Rotation from Profitability Back to Growth →
110 percent
Clouded Judgement
2024
median
Public SaaS companies at scale
Clouded Judgement: AI, CapEx, and SaaS Valuation in the Era of Rising Rates →
110 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Budget Flush and SaaS Valuation Dynamics →
101% percent
KeyBanc
2024
median
Private SaaS companies, 2024E
2024 KeyBanc Capital Markets & Sapphire Ventures SaaS Survey: Growth Deceleration and Profitability Focus →
109% percent
KeyBanc
2024
top-quartile
Private SaaS companies, 2024E
2024 KeyBanc Capital Markets & Sapphire Ventures SaaS Survey: Growth Deceleration and Profitability Focus →
>130% percent
Clouded Judgement
2024
best-in-class
Enterprise SaaS businesses
Clouded Judgement: Q2 2024 Public Cloud Software Earnings Analysis →
115-130% percent
Clouded Judgement
2024
good
Enterprise SaaS businesses
Clouded Judgement: Q2 2024 Public Cloud Software Earnings Analysis →
<115% percent
Clouded Judgement
2024
subpar
Enterprise SaaS businesses
Clouded Judgement: Q2 2024 Public Cloud Software Earnings Analysis →
>120% percent
Clouded Judgement
2024
best-in-class
SMB-focused SaaS businesses
Clouded Judgement: Q2 2024 Public Cloud Software Earnings Analysis →
126% percent
drive.google.com
2024
top-quartile
$1-5M ARR stage
Scaling SaaS from $1 to $20M: Building Strong Foundations in the Early Stages →
125% percent
drive.google.com
2024
top-quartile
$5-10M ARR stage
Scaling SaaS from $1 to $20M: Building Strong Foundations in the Early Stages →
120% percent
drive.google.com
2024
top-quartile
$10-15M ARR stage
Scaling SaaS from $1 to $20M: Building Strong Foundations in the Early Stages →
117% percent
drive.google.com
2024
top-quartile
$15-20M ARR stage
Scaling SaaS from $1 to $20M: Building Strong Foundations in the Early Stages →
100-105% percent
drive.google.com
2024
median
$1-5M ARR stage
Scaling SaaS from $1 to $20M: Building Strong Foundations in the Early Stages →
105-110% percent
drive.google.com
2024
median
$5-20M ARR stage
Scaling SaaS from $1 to $20M: Building Strong Foundations in the Early Stages →
110 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Fed Rate Cuts and SaaS Valuation Implications →
110% percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: 2024 SaaS Guidance Raises at Historic Lows →
47 percentage_points
OnlyCFO
2024
Snowflake NRR deterioration since 2021
2024 GTM Benchmarks: SaaS Revenue Growth Deceleration & Sales Efficiency Crisis →
118 percent
OnlyCFO
2024
best-in-class
OneStream IPO candidate metrics
Software IPOs in 2024: Market Conditions, Subscale Company Viability, and the OneStream Test →
110 percent
Clouded Judgement
2024
median
Public software companies
Clouded Judgement: Declining Growth in Public SaaS →
110 percent
Clouded Judgement
2024
median
Public SaaS companies at scale
Clouded Judgement: Can Subscale Software Companies Go Public? →
130 percent
Clouded Judgement
2024
best-in-class
Enterprise/mid-market SaaS companies
Clouded Judgement: Q1 2024 Public Cloud Software Earnings Analysis →
115 percent
Clouded Judgement
2024
good
Enterprise/mid-market SaaS companies
Clouded Judgement: Q1 2024 Public Cloud Software Earnings Analysis →
120 percent
Clouded Judgement
2024
best-in-class
SMB-focused SaaS companies
Clouded Judgement: Q1 2024 Public Cloud Software Earnings Analysis →
110 percent
Clouded Judgement
2024
median
All public SaaS companies
Clouded Judgement: Is Seat-Based Pricing Dead? →
110 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Budget Bifurcation in Enterprise Software Procurement →
110 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: SaaS Software Environment Remains Strained →
110 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: April CPI Update & SaaS Valuation Analysis →
110 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Hyperscaler Rebound vs. Software Guidance Misses in Q1 2024 →
110 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Azure AI Services Growth Signals Positive Infrastructure Software Outlook →
110 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: March CPI Update & SaaS Valuation Multiple Analysis →
130 percent
Clouded Judgement
2024
best-in-class
Enterprise-focused SaaS companies
Clouded Judgement: A Look Back at Q4 '23 Public Cloud Software Earnings →
115 percent
Clouded Judgement
2024
minimum
Enterprise-focused SaaS companies at good performance threshold
Clouded Judgement: A Look Back at Q4 '23 Public Cloud Software Earnings →
120 percent
Clouded Judgement
2024
best-in-class
SMB-focused SaaS companies (e.g., Bill.com)
Clouded Judgement: A Look Back at Q4 '23 Public Cloud Software Earnings →
110 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Hype Rounds vs Fundamental Rounds + Macro Update →
133 percent
Clouded Judgement
2024
best-in-class
Rubrik; cohort-based expansion metric
Clouded Judgement: Rubrik S-1 Benchmarking Analysis →
133 percent
Clouded Judgement
2024
best-in-class
Rubrik, cybersecurity SaaS
Clouded Judgement: Rubrik S-1 Benchmarking Analysis →
87 percent
OnlyCFO
2024
ZoomInfo Q4 2023; characterized as low for their customer base
Is SaaS Math Broken? Adapting Unit Economics to New Churn Realities →
110 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Q4 2023 SaaS Earnings Analysis & Valuation Multiples →
110 percent
Clouded Judgement
2024
median
SaaS companies at scale in public markets, Q4 2023
Clouded Judgement: Q4 2023 SaaS Earnings Analysis & Valuation Multiples →
120+ percent
Clouded Judgement
2024
target
Enterprise SaaS software businesses
Clouded Judgement: ERR vs ARR and the Conundrum of AI Revenue Streams →
105 percent
Clouded Judgement
2024
target
SMB SaaS software businesses
Clouded Judgement: ERR vs ARR and the Conundrum of AI Revenue Streams →
110 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: ERR vs ARR and the Conundrum of AI Revenue Streams →
120+ percent
Clouded Judgement
2024
target
Enterprise software businesses with expansion revenue
Clouded Judgement: ERR vs ARR and the Conundrum of AI Revenue Streams →
105 percent
Clouded Judgement
2024
median
SMB-focused SaaS businesses
Clouded Judgement: ERR vs ARR and the Conundrum of AI Revenue Streams →
110 percent
Clouded Judgement
2024
median
Public SaaS companies at scale (cohort analysis)
Clouded Judgement: ERR vs ARR and the Conundrum of AI Revenue Streams →
110 percent
Clouded Judgement
2024
median
Public SaaS companies, Q3 '23
Clouded Judgement: Q4 '23 SaaS Earnings Recap & Valuation Analysis →
110 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: 2024 SaaS Guidance vs. Consensus & Valuation Multiple Analysis →
110 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Venture Market Froth and SaaS Valuation Reality Check →
110 percent
Clouded Judgement
2024
median
Cloud software companies
Clouded Judgement: Rule of X and SaaS Valuation Multiplier Dynamics →
110 percent
OnlyCFO
2024
best-in-class
Enterprise SaaS (ICONIQ benchmark reference)
Weave's 150% Stock Gain: Lessons in SMB SaaS Valuation, Margin Expansion, and Growth Deceleration →
100 percent
OnlyCFO
2024
target
Small/medium business software
Weave's 150% Stock Gain: Lessons in SMB SaaS Valuation, Margin Expansion, and Growth Deceleration →
112 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: January Green Shoots, CPI Inflation, and SaaS Valuation Multiples →
112 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Multiple Expansion Without Estimate Growth & SBC Dilution Trends →
112 percent
Clouded Judgement
2024
median
Public SaaS companies
Clouded Judgement: Cloud Giants Report Q4'23 →
112% percent
Clouded Judgement
2024
median
Public B2B SaaS companies
Clouded Judgement: Q4 Earnings Season Kicks Off with ServiceNow →
120 percent
Clouded Judgement
2024
minimum
SaaS companies at IPO, 2015-2020 historical period
Clouded Judgement: The Bar for Going Public →
112 percent
Clouded Judgement
2024
median
Public SaaS companies (comprehensive benchmark set)
Clouded Judgement: The Bar for Going Public →
112 percent
Clouded Judgement
2024
median
SaaS companies at scale (public comps)
Clouded Judgement: The 2021 Funding Reckoning and Path to Founder-Friendly Venture →
112 percent
Clouded Judgement
2024
median
SaaS public companies
Clouded Judgement: SaaS Valuation Multiples and Fed Rate Sensitivity (January 2024) →
112% percent
Clouded Judgement
2024
median
SaaS basket (80 companies)
Clouded Judgement: SaaS Valuation Multiples and Fed Rate Sensitivity (January 2024) →
112 percent
Clouded Judgement
2023
median
Public SaaS companies in tracked index
Clouded Judgement: 2023 Year-End SaaS Valuation & Performance Analysis →
130 percent
Clouded Judgement
2023
best-in-class
Enterprise-focused SaaS companies
Clouded Judgement: A Look Back at Q3 '23 Public Cloud Software Earnings →
115 percent
Clouded Judgement
2023
good
Enterprise-focused SaaS companies
Clouded Judgement: A Look Back at Q3 '23 Public Cloud Software Earnings →
120 percent
Clouded Judgement
2023
best-in-class
SMB-focused SaaS companies
Clouded Judgement: A Look Back at Q3 '23 Public Cloud Software Earnings →
112 percent
Clouded Judgement
2023
median
SaaS companies at scale
Clouded Judgement: November 2023 Macro Update & SaaS Valuation Multiples Analysis →
112 percent
Clouded Judgement
2023
median
Public SaaS companies, Q3 2023
Clouded Judgement: Q3 2023 SaaS Earnings Preview & Valuation Analysis →
112 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Net New ARR Rebound & AWS ReInvent 2023 Implications →
108 percent
KeyBanc
2023
median
Private SaaS companies, 2022
2023 KeyBanc Capital Markets & Sapphire Ventures SaaS Survey: A Shift Towards Efficient Execution and Profitability →
104 percent
KeyBanc
2023
median
Private SaaS companies, 2023E
2023 KeyBanc Capital Markets & Sapphire Ventures SaaS Survey: A Shift Towards Efficient Execution and Profitability →
110 percent
KeyBanc
2023
best-in-class
Enterprise-centric SaaS companies
2023 KeyBanc Capital Markets & Sapphire Ventures SaaS Survey: A Shift Towards Efficient Execution and Profitability →
114 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: AI Monetization Layers & SaaS Valuation Inflection →
114 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: No Sign of Re-Acceleration in Software →
150 percent
OnlyCFO
2023
best-in-class
Snowflake, highest-valued public SaaS companies
Do Customer Success Teams Add Value? →
114 percent
Clouded Judgement
2023
median
Public SaaS companies at scale
Clouded Judgement: Cloud Giants Q3 2023 Report & SaaS Valuation Reality Check →
114 percent
Clouded Judgement
2023
median
Public SaaS cohort
Clouded Judgement: Hyperscaler Cloud Growth & SaaS Valuation Multiples Analysis →
114 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: 2024 Budget Expectations & SaaS Valuation Multiples →
114 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Fed Rate Projections & SaaS Valuation Multiples →
114 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Interest Rate Risk & SaaS Valuation Compression →
114 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Medium-Term Software Valuation Setup →
130 percent
Clouded Judgement
2023
best-in-class
Enterprise SaaS companies
Clouded Judgement: A Look Back at Q2 '23 Public Cloud Software Earnings →
115 percent
Clouded Judgement
2023
good
Enterprise SaaS companies (minimum threshold)
Clouded Judgement: A Look Back at Q2 '23 Public Cloud Software Earnings →
120 percent
Clouded Judgement
2023
best-in-class
SMB-focused SaaS companies
Clouded Judgement: A Look Back at Q2 '23 Public Cloud Software Earnings →
105 percent
OnlyCFO
2023
Domo at IPO; enterprise SaaS platform
Domo: Cautionary Tale of Hype & Inefficiency →
115 percent
Clouded Judgement
2023
median
Public SaaS software index
Clouded Judgement: Are Software Companies Over or Undervalued? →
119 percent
Clouded Judgement
2023
top-quartile
Klaviyo; described as 'one of the most' in public SaaS
Clouded Judgement: Klaviyo S-1 Benchmarking Analysis →
115 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Q2 SaaS Earnings Review & Valuation Multiple Analysis →
115 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Cloud Giants Q2 Update →
115 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Cloud Giants Q2 Update →
115 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Cloud Infrastructure Optimization Cycles & Soft Landing Macro Outlook →
115 percent
Clouded Judgement
2023
median
Public SaaS companies in basket
Clouded Judgement: Are Software Companies Bad Businesses? →
115 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: IPO Readiness Metrics & Software Market Drought →
115 percent
Clouded Judgement
2023
median
SaaS companies
Clouded Judgement: Rising Rates and SaaS Valuation Multiples →
130 percent
Clouded Judgement
2023
best-in-class
Enterprise SaaS companies
Clouded Judgement: Q1 2023 Public Cloud Software Earnings Analysis →
115 percent
Clouded Judgement
2023
minimum
Enterprise SaaS companies (good performance threshold)
Clouded Judgement: Q1 2023 Public Cloud Software Earnings Analysis →
120 percent
Clouded Judgement
2023
best-in-class
SMB-focused SaaS companies
Clouded Judgement: Q1 2023 Public Cloud Software Earnings Analysis →
115 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Growth-Adjusted Software Multiples and Valuation Reset →
115 percent
Clouded Judgement
2023
median
Public SaaS companies analyzed in cohort
Clouded Judgement: Q1 2023 Cloud Software Consumption Trends →
115% percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Q1 2023 SaaS Net New ARR Slowing & Demand Environment Divergence →
115 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: May 2023 Cloud Software Consumption Trends →
11 percent
Clouded Judgement
2023
median
Public SaaS companies, Q1 2023 (estimated)
Clouded Judgement: Q1 2023 SaaS Earnings Reflections →
116 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: 2023 Full Year Guidance Update & SaaS Valuation Analysis →
116 percent
Clouded Judgement
2023
median
Public SaaS companies (LTM)
Clouded Judgement: Consumption Software Slowdown & Q1 2023 Reacceleration Signals →
116% percent
Clouded Judgement
2023
median
Public SaaS companies tracked in article
Clouded Judgement: Hyperscaler Q1 Reports & The AWS April Growth Cliff →
124 percent
OnlyCFO
2023
SentinelOne at IPO
SentinelOne and the 2021 SaaS Valuation Bubble: Growth vs. Profitability Trade-off in Market Reset →
116 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Hyperscaler Q1 2023 Preview & SaaS Valuation Multiple Analysis →
116 percent
Clouded Judgement
2023
median
SaaS companies in benchmark sample
Clouded Judgement: Hyperscaler Q1 2023 Preview & SaaS Valuation Multiple Analysis →
116 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Q4 '22 Net New ARR Slowdown & Cloud Optimization Headwinds →
130 percent
Clouded Judgement
2023
best-in-class
Enterprise-focused SaaS companies
Clouded Judgement: A Look Back at Q4 '22 Public Cloud Software Earnings →
120 percent
Clouded Judgement
2023
best-in-class
SMB-focused SaaS companies like Bill.com
Clouded Judgement: A Look Back at Q4 '22 Public Cloud Software Earnings →
115 percent
Clouded Judgement
2023
target
Good performance for enterprise SaaS
Clouded Judgement: A Look Back at Q4 '22 Public Cloud Software Earnings →
116 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: IT Budget Sentiment Stabilizing Amid SaaS Growth Deceleration →
116 percent
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: How Will AI Effect Software Business Models? →
110 percent
KeyBanc
2022
median
2021, including upsells and expansions
2022 Private SaaS Company Survey Results - KeyBanc Capital Markets →
110 percent
KeyBanc
2022
median
Field-sales dominated companies
2022 Private SaaS Company Survey Results - KeyBanc Capital Markets →
104 percent
KeyBanc
2022
median
Inside-sales dominated companies
2022 Private SaaS Company Survey Results - KeyBanc Capital Markets →
120 percent
Clouded Judgement
2022
median
Public cloud software companies
Clouded Judgement →
120 percent
Clouded Judgement
2022
median
Top 10 SaaS companies by market cap, April 2022
Clouded Judgement: Q1 GDP Recession Signals & SaaS Valuation Resilience →
120 percent
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement: Q1 2022 SaaS Valuation Compression and Forward Guidance Risk →
120 percent
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement →
129 percent
Clouded Judgement
2022
median
Q4 2021 public cloud software companies (70 companies)
Clouded Judgement: Q4 '21 Public Cloud Software Earnings Analysis →
133 percent
Clouded Judgement
2022
top-decile
Q4 2021 public cloud software companies
Clouded Judgement: Q4 '21 Public Cloud Software Earnings Analysis →
130 percent
Clouded Judgement
2022
target
Enterprise SaaS businesses
Clouded Judgement: Q4 '21 Public Cloud Software Earnings Analysis →
120 percent
Clouded Judgement
2022
target
SMB-focused SaaS businesses
Clouded Judgement: Q4 '21 Public Cloud Software Earnings Analysis →
120% percent
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement →
120 percent
Clouded Judgement
2022
median
Public SaaS companies, April 2022
Clouded Judgement →
120 percent
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement →
120 percent
Clouded Judgement
2022
median
Public SaaS cohort
Clouded Judgement: Inflation, Rate Risk, and SaaS Valuation Multiples →
120 percent
Clouded Judgement
2022
median
Public SaaS best-in-class benchmark
Clouded Judgement: SaaS Valuation Multiples & Market Risk-Off Dynamics →
120 percent
Clouded Judgement
2022
median
Public SaaS cohort
Clouded Judgement →
120 percent
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement: COVID Pull Forward vs. Durable Trend in Cloud Software Valuations →
119% percent
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement →
119 percent
Clouded Judgement
2022
median
Public SaaS companies (Feb 2022)
Clouded Judgement: SaaS Valuation in the Face of Fed Rate Hikes and Inflation →
119 percent
Clouded Judgement
2022
median
Public SaaS cohort
Clouded Judgement: SaaS Valuation in the Face of Fed Rate Hikes and Inflation →
119 percent
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement →
119 percent
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement →
119 percent
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement: Cloud SaaS Valuation Multiple Compression & Fundamental Performance Disconnect →
119 percent
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement: SaaS Multiple Compression & Earnings Season Risk in Rising Rate Environment →
119 percent
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement →
119 percent
Clouded Judgement
2022
median
Public SaaS companies, January 2022
Clouded Judgement: SaaS Valuation Multiple Compression & Growth-Adjusted Analysis (Jan 2022) →
130% percent
Clouded Judgement
2021
minimum
Top decile SaaS companies
Clouded Judgement: Q3 2021 SaaS Earnings Recap & Valuation Multiple Analysis →
119 percent
Clouded Judgement
2021
median
SaaS cohort overall
Clouded Judgement: Q3 2021 SaaS Earnings Recap & Valuation Multiple Analysis →
120 percent
Clouded Judgement
2021
median
Public cloud software companies, Q3 2021
Clouded Judgement: Q3 2021 Public Cloud Software Earnings Analysis →
125 percent
Clouded Judgement
2021
top-quartile
Public cloud software companies, Q3 2021
Clouded Judgement: Q3 2021 Public Cloud Software Earnings Analysis →
130 percent
Clouded Judgement
2021
top-decile
Public cloud software companies, Q3 2021
Clouded Judgement: Q3 2021 Public Cloud Software Earnings Analysis →
130 percent
Clouded Judgement
2021
best-in-class
Enterprise SaaS companies
Clouded Judgement: Q3 2021 Public Cloud Software Earnings Analysis →
115 percent
Clouded Judgement
2021
minimum
Good-performing enterprise SaaS companies
Clouded Judgement: Q3 2021 Public Cloud Software Earnings Analysis →
120 percent
Clouded Judgement
2021
best-in-class
SMB-focused SaaS companies
Clouded Judgement: Q3 2021 Public Cloud Software Earnings Analysis →
119 percent
Clouded Judgement
2021
median
SaaS companies with disclosed subscription revenue
Clouded Judgement →
119% percent
Clouded Judgement
2021
median
Public SaaS cohort expansion revenue retention
Clouded Judgement →
119 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
119 percent
Clouded Judgement
2021
median
SaaS companies
Clouded Judgement →
>115 percent
Clouded Judgement
2021
Samsara cohort retention (exact figure not disclosed in S-1)
Clouded Judgement: Samsara S-1 Benchmarking Analysis →
119 percent
Clouded Judgement
2021
median
Public SaaS cohort
Clouded Judgement →
119 percent
Clouded Judgement
2021
median
Public SaaS companies in cohort
Clouded Judgement →
119 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
120 percent
Clouded Judgement
2021
median
Public SaaS companies, all cohorts
Clouded Judgement →
120 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
120% percent
Clouded Judgement
2021
median
Public cloud software companies (Q3 2021)
Clouded Judgement →
120 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
120 percent
Clouded Judgement
2021
median
Public SaaS companies at scale
Clouded Judgement →
120 percent
Clouded Judgement
2021
median
SaaS market broad benchmark
Clouded Judgement: Interest Rate Impact on Cloud Software Valuation & SaaS Benchmarks →
120% percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SBC Benchmarking and SaaS Valuation Multiples Analysis →
120 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SBC Benchmarking and SaaS Valuation Multiples Analysis →
127 percent
Clouded Judgement
2021
median
Public SaaS companies, Q2 2021
Clouded Judgement: Q2 2021 Public Cloud Software Earnings Analysis →
130 percent
Clouded Judgement
2021
top-decile
Public SaaS companies, Q2 2021
Clouded Judgement: Q2 2021 Public Cloud Software Earnings Analysis →
130 percent
Clouded Judgement
2021
minimum
SaaS benchmark target
Clouded Judgement: Q2 2021 Public Cloud Software Earnings Analysis →
115 percent
Clouded Judgement
2021
minimum
SaaS benchmark target range (115-130%)
Clouded Judgement: Q2 2021 Public Cloud Software Earnings Analysis →
120 percent
Clouded Judgement
2021
minimum
SaaS companies with SMB customer base
Clouded Judgement: Q2 2021 Public Cloud Software Earnings Analysis →
152 percent
Clouded Judgement
2021
best-in-class
Dollar-based NRR for public SaaS benchmarks
Clouded Judgement: GitLab S-1 Benchmarking Analysis →
120 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
152 percent
Clouded Judgement
2021
best-in-class
GitLab dollar-based NRR at S-1 filing
Clouded Judgement: GitLab S-1 Benchmarking Analysis →
120 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: Cloud SaaS Valuation Multiples & Operating Metrics Analysis →
119 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
118 percent
Clouded Judgement
2021
Freshworks, year-over-year cohort comparison
Freshworks: Benchmarking the S-1 Data →
118 percent
Clouded Judgement
2021
Freshworks; indicates expansion revenue exceeding churn within cohort
Freshworks: Benchmarking the S-1 Data →
119 percent
Clouded Judgement
2021
Amplitude pre-IPO; August 2021
Amplitude S-1 Analysis: Benchmarking Digital Optimization SaaS Metrics →
119 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: Q2 2021 SaaS Growth Acceleration & Valuation Analysis →
119 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Multiples & Growth Correlation Analysis →
118 percent
Clouded Judgement
2021
median
Public SaaS companies as of Aug 2021
Clouded Judgement →
118 percent
Clouded Judgement
2021
median
Public SaaS companies in sample
Clouded Judgement →
118 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
118% percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
118% percent
Clouded Judgement
2021
median
SaaS public companies
Clouded Judgement →
118 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Multiples & Operating Metrics Analysis →
118 percent
Clouded Judgement
2021
median
Public SaaS companies as of July 2021
Clouded Judgement →
118 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
120 percent
Clouded Judgement
2021
best-in-class
SMB-focused SaaS companies
Clouded Judgement: A Look Back at Q1 '21 Public Cloud Earnings →
130 percent
Clouded Judgement
2021
best-in-class
Enterprise SaaS companies
Clouded Judgement: A Look Back at Q1 '21 Public Cloud Earnings →
115 percent
Clouded Judgement
2021
minimum
Good performance for enterprise SaaS
Clouded Judgement: A Look Back at Q1 '21 Public Cloud Earnings →
118 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
118 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
118 percent
Clouded Judgement
2021
median
SaaS companies at scale
Clouded Judgement →
124 percent
Clouded Judgement
2021
SentinelOne; annual cohort-based measurement
SentinelOne: Benchmarking the S-1 Data →
120 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Multiples & Earnings Analysis (June 2021) →
120 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Multiples & Earnings Analysis (June 2021) →
117 percent
Clouded Judgement
2021
Confluent customer expansion cohort
Confluent S-1 IPO Analysis: SaaS Benchmarking & Unit Economics →
119 percent
Clouded Judgement
2021
median
Public SaaS companies in analysis set
Clouded Judgement →
119 percent
Clouded Judgement
2021
median
SaaS public company cohort
Clouded Judgement →
119 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
119 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
107 percent
Clouded Judgement
2021
Monday.com; includes SMB customers with <$2k ACV and higher churn
Monday.com S-1 Analysis: Benchmarking Growth, Margins, and Unit Economics Against Public SaaS Peers →
121 percent
Clouded Judgement
2021
Monday.com; more comparable to other cloud businesses; excludes highest-churn SMB cohort
Monday.com S-1 Analysis: Benchmarking Growth, Margins, and Unit Economics Against Public SaaS Peers →
107 percent
Clouded Judgement
2021
Monday.com all customer segments
Monday.com S-1 Analysis: Benchmarking Growth, Margins, and Unit Economics Against Public SaaS Peers →
121 percent
Clouded Judgement
2021
Monday.com enterprise segment
Monday.com S-1 Analysis: Benchmarking Growth, Margins, and Unit Economics Against Public SaaS Peers →
118 percent
Clouded Judgement
2021
median
SaaS public company peer set
Clouded Judgement: SaaS Valuation Multiples Analysis (May 2021) →
117 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
117 percent
Clouded Judgement
2021
median
SaaS peer group
Clouded Judgement: SaaS Valuation Multiples & Earnings Season Analysis (April 30, 2021) →
117 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Multiples & Earnings Season Analysis (April 30, 2021) →
117 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
117 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Multiples & Treasury Yield Correlation →
117 percent
Clouded Judgement
2021
median
Public SaaS companies in cohort
Clouded Judgement: SaaS Valuation Multiples & Treasury Yield Correlation →
117 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
117 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Multiples and Treasury Correlation Analysis →
117% percent
Clouded Judgement
2021
median
Public SaaS cohort (April 2021)
Clouded Judgement: SaaS Valuation Multiples and Treasury Correlation Analysis →
145 percent
Clouded Judgement
2021
best-in-class
UiPath; among highest in SaaS industry
UiPath S-1 Financial Benchmarking Analysis: Pre-IPO Metrics & Cloud SaaS Comparison →
116 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
116 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
116 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
113 percent
Clouded Judgement
2021
average
Procore 2020 (declined from 121% in 2018, 117% in 2019 due to COVID)
Clouded Judgement: Procore S-1 Benchmarking Analysis →
115 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Analysis & Okta-Auth0 M&A (Mar 2021) →
115 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Multiples & Operating Metrics Analysis (Feb 2021) →
120 percent
Clouded Judgement
2021
minimum
Olo discloses >120% NRR
Olo: Benchmarking the S-1 Data →
115 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Metrics & Weekly Earnings Summary →
115 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Metrics & Weekly Earnings Summary →
115 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Multiples & Quarterly Performance Analysis (Feb 2021) →
115 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Multiples & Earnings Analysis (Feb 5, 2021) →
115 percent
Clouded Judgement
2021
median
Public SaaS companies, January 2021
Clouded Judgement →
115 percent
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Multiples & Operating Metrics Analysis (Jan 2021) →
115 percent
Clouded Judgement
2021
median
Public SaaS cohort
Clouded Judgement →
115 percent
Clouded Judgement
2020
median
Public SaaS companies
Clouded Judgement: SaaS Valuation & Acceleration Analysis (Q3 2020) →
116 percent
Clouded Judgement
2020
median
SaaS cohort
Clouded Judgement →
116 percent
Clouded Judgement
2020
median
Public SaaS companies
Clouded Judgement →
116 percent
Clouded Judgement
2020
median
Public SaaS companies
Clouded Judgement: SaaS Growth Trajectories and Valuation Multiples Analysis →
116 percent
Clouded Judgement
2020
median
Public SaaS companies
Clouded Judgement →
117 percent
Clouded Judgement
2020
median
Public SaaS companies
Clouded Judgement: SaaS Valuation and Earnings Analysis (November 2020) →
117 percent
Clouded Judgement
2020
median
Public SaaS companies
Clouded Judgement: Q3 2020 SaaS Earnings & Valuation Multiple Analysis →
117 percent
Clouded Judgement
2020
median
Public SaaS companies
Clouded Judgement →
117 percent
Clouded Judgement
2020
median
Public SaaS companies, October 2020
Clouded Judgement →
116 percent
Clouded Judgement
2020
median
SaaS benchmarking cohort
Clouded Judgement →
116 percent
Clouded Judgement
2020
median
Tracked SaaS companies, October 2020
Clouded Judgement →
116 percent
Clouded Judgement
2020
median
SaaS benchmarks
Clouded Judgement →
130 percent
Clouded Judgement
2020
best-in-class
Enterprise-focused SaaS companies
Clouded Judgement: A Look Back at Q2 Public SaaS Earnings →
115 percent
Clouded Judgement
2020
minimum
Enterprise-focused SaaS companies; below this is subpar
Clouded Judgement: A Look Back at Q2 Public SaaS Earnings →
120 percent
Clouded Judgement
2020
best-in-class
SMB-focused SaaS companies like Bill.com
Clouded Judgement: A Look Back at Q2 Public SaaS Earnings →
117 percent
Clouded Judgement
2020
median
Public SaaS companies reporting NRR
Clouded Judgement: A Look Back at Q2 Public SaaS Earnings →
125 percent
Clouded Judgement
2020
top-quartile
Public SaaS companies reporting NRR
Clouded Judgement: A Look Back at Q2 Public SaaS Earnings →
132 percent
Clouded Judgement
2020
top-decile
Public SaaS companies reporting NRR
Clouded Judgement: A Look Back at Q2 Public SaaS Earnings →
116 percent
Clouded Judgement
2020
median
Public SaaS companies
Clouded Judgement →
116% percent
Clouded Judgement
2020
median
SaaS cohort
Clouded Judgement →
116 percent
Clouded Judgement
2020
median
SaaS cohort
Clouded Judgement →
116 percent
Clouded Judgement
2020
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Trends & Direct Listing Reform →
130.0 percent
Clouded Judgement
2020
best-in-class
Unity vs. public SaaS peer set; top 3 highest
Unity S-1 Benchmarking: Pre-IPO SaaS Valuation Analysis & Metric Comparison →
127.5 percent
Clouded Judgement
2020
average
Sumo Logic midpoint of 120-135% range over 9 quarters
Sumo Logic S-1 Analysis: Pre-IPO Benchmarking & Valuation Prediction →
116 percent
Clouded Judgement
2020
median
SaaS cohort, August 2020
Clouded Judgement →
117 percent
Clouded Judgement
2020
median
Median across public SaaS cohort
Clouded Judgement →
117% percent
Clouded Judgement
2020
median
SaaS cohort August 2020
Clouded Judgement →
117 percent
Clouded Judgement
2020
median
Broader SaaS cohort (Q2 2020)
Clouded Judgement →
130% percent
Clouded Judgement
2020
minimum
Datadog's published NRR metric as cited example of Secular Growth Star
Clouded Judgement: Q2 SaaS Earnings Preview & Valuation Sustainability Analysis →
117 percent
Clouded Judgement
2020
median
SaaS market as of July 2020
Clouded Judgement →
117% percent
Clouded Judgement
2020
median
Public SaaS companies as of July 2020
Clouded Judgement →
108 percent
Clouded Judgement
2020
BigCommerce customers >$2k ACV
Represents 80% of BigCommerce revenue; overstates overall NRR when excluding <$2k cohort
BigCommerce S-1 Benchmarking: Pre-IPO Financial Analysis vs. Public SaaS Peers →
117 percent
Clouded Judgement
2020
median
SaaS companies in analyzed cohort
Clouded Judgement →
117 percent
Clouded Judgement
2020
median
SaaS cohort (Jul 2020)
Clouded Judgement →
121% percent
Clouded Judgement
2020
median
SaaS IPO candidates (36 companies)
Clouded Judgement →
117% percent
Clouded Judgement
2020
median
Public SaaS companies (week of June 26, 2020)
Clouded Judgement →
150 percent
Clouded Judgement
2020
best-in-class
nCino annual cohort NRR; noted as exceptional relative to comparable SaaS companies
nCino: Benchmarking the S-1 Data →
121 percent
Clouded Judgement
2020
target
SaaS companies at IPO
What It Takes to Become a Public SaaS Company: Part 1 – IPO Readiness Metrics & Benchmarks →
117 percent
Clouded Judgement
2020
median
SaaS market overall
Clouded Judgement →
130 percent
Clouded Judgement
2020
best-in-class
Enterprise-focused SaaS companies
Clouded Judgement: A Look Back at Q1 Public SaaS Earnings →
120 percent
Clouded Judgement
2020
best-in-class
SMB-focused SaaS companies like Bill.com
Clouded Judgement: A Look Back at Q1 Public SaaS Earnings →
115 percent
Clouded Judgement
2020
good
Enterprise-focused SaaS companies (lower bound)
Clouded Judgement: A Look Back at Q1 Public SaaS Earnings →