26 observations · 22 reports · 2 publishers

R&D Spend.

Every R&D Spend observation from our practitioner benchmark corpus. Latest: Clouded Judgement (2026).

← All benchmark reports
Observations
26
Reports
22
Publishers
2
Latest
Clouded Judgement
2026-03-13
23 percent of revenue
Clouded Judgement
2026
median
SaaS public companies
Clouded Judgement: In Defense of Model Lab Profitability →
23 percent of revenue
Clouded Judgement
2026
median
Cloud SaaS companies
Get in the Token Path: Infrastructure Monetization in the AI Era →
43% percent of ARR
High Alpha
2025
median
SaaS companies with <$1M ARR
2025 SaaS Benchmarks Report by High Alpha →
38% percent of ARR
High Alpha
2025
median
SaaS companies with $1-5M ARR
2025 SaaS Benchmarks Report by High Alpha →
31% percent of ARR
High Alpha
2025
median
SaaS companies with $5-20M ARR
2025 SaaS Benchmarks Report by High Alpha →
32% percent of ARR
High Alpha
2025
median
SaaS companies with $20-50M ARR
2025 SaaS Benchmarks Report by High Alpha →
30% percent of ARR
High Alpha
2025
median
SaaS companies with >$50M ARR
2025 SaaS Benchmarks Report by High Alpha →
24 percent of revenue
Clouded Judgement
2025
median
SaaS public companies
Clouded Judgement: Bond Market Volatility, Treasury Auctions, and SaaS Valuation Multiples →
25 percent of revenue
Clouded Judgement
2024
median
Public software companies
Clouded Judgement: Declining Growth in Public SaaS →
25 percent of revenue
Clouded Judgement
2024
median
All public SaaS companies
Clouded Judgement: Is Seat-Based Pricing Dead? →
26 percent of revenue
Clouded Judgement
2024
median
SaaS companies at scale (public comps)
Clouded Judgement: The 2021 Funding Reckoning and Path to Founder-Friendly Venture →
26 percent
Clouded Judgement
2023
median
R&D as % of revenue, public SaaS, Q3 2023
Clouded Judgement: Q3 2023 SaaS Earnings Preview & Valuation Analysis →
27 percent of revenue
Clouded Judgement
2023
median
Public SaaS companies
Clouded Judgement: Fed Rate Projections & SaaS Valuation Multiples →
26 percent of revenue
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement →
26 percent of revenue
Clouded Judgement
2022
median
Public SaaS companies
Clouded Judgement →
26% percent of revenue
Clouded Judgement
2021
median
Public SaaS cohort R&D expense ratio
Clouded Judgement →
26% percent of revenue
Clouded Judgement
2021
median
Public cloud software companies (Q3 2021)
Clouded Judgement →
25 percent of revenue
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement: SaaS Valuation Multiples & Operating Metrics Analysis →
25 percent of revenue
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
25 percent
Clouded Judgement
2021
median
Public SaaS companies as % of revenue
Clouded Judgement →
25 percent of revenue
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
25 percent of revenue
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
25 percent of revenue
Clouded Judgement
2021
median
Public SaaS companies
Clouded Judgement →
25 percent
Clouded Judgement
2020
median
Percentage of SaaS revenue
Clouded Judgement →
25 percent of revenue
Clouded Judgement
2020
median
Public SaaS companies
Clouded Judgement: SaaS Growth Trajectories and Valuation Multiples Analysis →
25 percent of revenue
Clouded Judgement
2020
median
Public SaaS companies
Clouded Judgement →