Clouded Judgement

Weekly SaaS market analysis tracking valuation multiples, earnings reports, and share price movements across 8 companies with detailed benchmarking of operating metrics including growth rates, margins, and unit economics. The article presents evidence of significant multiple expansion in the SaaS sector, with median EV/NTM revenue multiples reaching 15.4x (vs. 13.8x trailing 1-year average), and highlights the wide dispersion in valuations across growth cohorts.