Clouded Judgement: A Look Back at Q2 Public SaaS Earnings

This analysis examines Q2 2020 SaaS earnings across 57 public companies, revealing that despite expectations of accelerating digital transformations, most businesses experienced revenue growth deceleration driven by buyer cost-control measures and pushed pipelines rather than reduced demand. The article provides detailed benchmarking on key SaaS metrics including net revenue retention, CAC payback, growth rates, and valuation multiples, identifying Zoom, Shopify, and Fastly as clear Covid beneficiaries while most peers maintained or declined growth rates.