SaaStr

OCTOBER 28, 2022

— Jason Be Kind Lemkin (@jasonlk) October 28, 2022. o this was an interesting week in terms of reading the tea leaves on what’s going on in SaaS, Cloud, the economy, and all that. I’ve also seen this in the leaders in eComm I’ve invested in, like Gorgias. — Jamin Ball (@jaminball) October 27, 2022.

AWS 248

AWS Cloud Azure Investment 248

Clouded Judgement

OCTOBER 27, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. After the cloud giants reported this week, the timing of the presumed re-acceleration is very much in question. At the same time - Google Cloud also massively decelerated from 28% last quarter to 22% this quarter. which feels unlikely.

Cost optimization & reporting 152

Cost optimization & reporting Cloud Azure AWS 152

Clouded Judgement

MAY 19, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. The chart below shows Q1 ‘23 net new ARR added vs the quarterly average across the 4 quarters in 2022. Subscribe now Share Clouded Judgement Leave a comment Follow along to stay up to date! Meanwhile, the Nasdaq is up >20%.

Cloud 161

Cloud Subscription Payment Features Retention 161

Clouded Judgement

DECEMBER 30, 2022

Every week I’ll provide updates on the latest trends in cloud software companies. And that’s a wrap for 2022! 2022 Top Performers Below is a table that shows the top 10 share price performers of 2022. Congrats to Box for being the only positive returning cloud software stock of the year!

Cloud 130

Cloud Subscription Payment Features Pricing 130

SaaStr

APRIL 22, 2022

More importantly, many Cloud leaders are down 50% from their all-time highs. Seed funding seems to be all over the place, with many seed investors investing the same as before. But later stage investing has clearly changed. The post Are You Fundable in 2022? The change is still being figured out. The 1-and-30 Rule.

Venture Capital 273

Venture Capital Cloud Investment Startup 273

Clouded Judgement

NOVEMBER 4, 2022

Every week I’ll provide updates on the latest trends in cloud software companies. The prevailing narrative today is “higher for longer” and that’s what moved the market down on Thursday Macro Impacts on Software Performance So far we’ve had ~30 cloud software companies report Q3. This was expected.

Cloud 130

Cloud Pricing Revenue Subscription 130

Clouded Judgement

JUNE 2, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. If we look at the net new ARR added in Q1 vs the quarterly average net new ARR added across the 4 quarters in 2022 (graphed below), you’ll see only 7 companies added more in Q1 ‘23 than their quarerly average across 2022.

Cloud 130

Cloud Trends SMB Subscription 130

Clouded Judgement

SEPTEMBER 29, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. I do think the economy will start slowing next year, and just like they did in late 2021 / 2022, the Fed can very quickly change their course of action. This is for information purposes and should not be construed as an investment recommendation.

Cloud 183

Cloud Government Banking Software Review 183

Clouded Judgement

NOVEMBER 18, 2022

Every week I’ll provide updates on the latest trends in cloud software companies. Can You Beat the Market Investing Businesses With in 10x+ NTM Revenue Multiples? This week I saw the below tweet and it got me thinking - can you beat the market investing in software businesses at a >10x NTM revenue multiple?

Cloud 130

Cloud Pricing Investment Revenue 130

Clouded Judgement

JANUARY 6, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Cloud Downgrades This week UBS came out with a couple research reports citing concerns in AWS / Azure growth. If we rewind back the clock to the start of 2022 the big debate was rates. Subscribe now Share Clouded Judgement Leave a comment

Cloud 130

Cloud Azure AWS Underperforming Technical Team 130

Clouded Judgement

OCTOBER 28, 2022

Every week I’ll provide updates on the latest trends in cloud software companies. All of these broadly falling into the bucket of customers looking to spend less, with a similar marginal cost structure for the cloud providers (hence the lower operating margin from AWS). Subscribe now Share Clouded Judgement Leave a comment

Cloud 130

Cloud Azure AWS Cost optimization & reporting 130

SaaStr

AUGUST 29, 2022

10.000 SaaS CEOs, Founders, Revenue Leaders, and VCs will join us for 3 days of tactical content, networking, and epic evening events when the Cloud comes to San Mateo. We’re 15 days away from SaaStr Annual 2022, and we are excited to feature hundreds of speakers, sharing their knowledge and experience with you! GET 20% OFF!

Scale 250

Scale Sales Hiring Marketplace as a Service B2B 250

Clouded Judgement

MARCH 17, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. They take in customer money (deposits), pay out interest on those deposits, and then invest deposits in an attempt to get a higher yield than interest they pay out This is the borrow short lend long saying you may have heard of.

Cloud 130

Cloud Banking Investment Startup 130

Clouded Judgement

APRIL 6, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. That’s a big difference, especially when you layer in the growth in headcount from 2021 to 2022. Subscribe now Share Clouded Judgement Leave a comment Follow along to stay up to date!

Cloud 130

Cloud Headcount Subscription Payment Features 130

Clouded Judgement

JANUARY 20, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Had we not gone through 2020-2022 there would still be excess to remove. Subscribe now Share Clouded Judgement Leave a comment Follow along to stay up to date! ” Digital Transformations were running rampant.

Cloud 130

Cloud Interviewing Subscription Payment Features 130

Clouded Judgement

AUGUST 11, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. The weakness they called out was from larger cloud-native businesses. From a new logo bookings perspective, we had our largest Q2 and second largest quarter ever, only behind the seasonally larger Q4 2022.”

Cloud 130

Cloud Trends Azure GCP(Google Cloud Platform) 130

Tom Tunguz

MAY 22, 2024

” Data center revenue totaled $26b, with about 45% from the major clouds ($13b). These clouds announced they were spending $40b in capex to build out data centers , implying NVIDIA is capturing very roughly 33% of the total capex budgets for their cloud customers. Is this a problem for the clouds? 36% 2022 9.7

Artificial Intelligence 203

Artificial Intelligence Cloud AI Government 203

Clouded Judgement

SEPTEMBER 22, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. As a reminder, in the summer of 2021 they were saying they wouldn’t hike rates through the end of 2022…We all know how quickly that changed when they skyrocketed rates very shortly thereafter. Follow along to stay up to date!

Cloud 152

Cloud Revenue Software Subscription 152

Clouded Judgement

SEPTEMBER 30, 2022

Every week I’ll provide updates on the latest trends in cloud software companies. Budget growth for 2022 was revised down a full 1% from the prior quarters survey (from 4% to 3% ), demonstrating near term budget pressure. Subscribe now Share Clouded Judgement Leave a comment Follow along to stay up to date!

Cloud 130

Cloud Subscription Payment Features Trends 130

Clouded Judgement

DECEMBER 2, 2022

Every week I’ll provide updates on the latest trends in cloud software companies. The 2023 guidance would imply closer to $780m of net new ARR added, and flat / down net new ARR added in 2023 vs 2022 In summary - 2023 expectations went from roughly $3.55B ARR (37% growth) to $3.3B (low 30’s growth).

Cloud 130

Cloud Forecasting Software Review Revenue 130

SaaStr

DECEMBER 21, 2022

They aren’t seeing any decline in their business at the end of 2022. And my old division of Adobe, Document Cloud, is growing 21% at $2.4 Document Cloud revenue was $2.38 Document Cloud revenue was $2.38 Adobe – Adobe Reports Record Q4 and Fiscal 2022 Revenue [link]. Creative Cloud crossed $10B in ARR.

Scale 267

Scale Cloud Subscription Payment Features 267

Clouded Judgement

FEBRUARY 17, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. They just reported Q4 ‘22, and in the full year 2022 they grew 63%. Subscribe now Share Clouded Judgement Leave a comment Follow along to stay up to date! ” I won’t rehash all of the details of a no-landing.

Cloud 130

Cloud Azure Revenue Subscription 130

Clouded Judgement

NOVEMBER 3, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. After all, the real headwinds to software started in the Q3 / Q4 2022 timeline, so by Q3 / Q4 2023 we’d start lapping those tough periods. This is for information purposes and should not be construed as an investment recommendation.

Software Review 161

Software Review Cloud Software Azure 161

SaaStr

JULY 29, 2022

— Jason 2022 SaaStr Annual Sep 13-15 Lemkin (@jasonlk) July 28, 2022. The best of the best in SaaS and Cloud, truly the fastest growing and most iconic SaaS companies, from Snowflake to Datadog and more are way, way down. And in the middle are growth funds and investments. So, the investment gets marked down.

Startup 297

Startup Venture Capital SaaS Cloud 297

SaaStr

JANUARY 23, 2023

With the BVP Cloud Index down 40%+ from a year ago , and many of the top Cloud leaders trading for as low as 5x ARR, it’s just hard to justify a later stage $300m-$400m valuation round these days, let alone a true unicorn round. A great deep dive on later-stage SaaS investing here: And look venture is a mess today.

AWS 310

AWS Venture Capital Finance Cloud 310

SaaStr

NOVEMBER 3, 2022

My summary of Venture Markets in Nov 2022: Series B and later even worse than looks in data: 85%+ of investing here has simply ceased. — Jason Be Kind Lemkin (@jasonlk) November 2, 2022. Cloud stocks are down 50%, and multiples are down 75%, from their peaks. And yet … the stock markets have plummeted.

AWS 315

AWS Venture Capital Azure Cloud 315

SaaStr

MARCH 11, 2022

Was the “Covid Boost” in Cloud multiples just an anomoly? Put differently, if you look at multiples of revenue for top SaaS and Cloud companies above from 2014-2022, you could come to one of (at least) two conclusions today: Conclusion #1: Q2’20-Q4’22 Cloud Revenue Multiples Were a Covid Anomaly.

Scale 271

Scale SaaS Cloud Pricing 271

SaaStr

SEPTEMBER 10, 2020

And I’ve seen it across my little investment portfolio too, from startups like Gorgias tripling on the back of the acceleration of eCommerce, to Talkdesk booming as call centers have to move to running distributed in weeks, to RevenueCat and others benefitting from an explosion in app development. It can’t.

Cloud 222

Cloud SaaS Mobile Enterprise 222

SaaStr

JANUARY 4, 2024

In 2022, revenue growth held up for many leaders, but share prices and multiples cratered. And yet … it wasn’t all bad, for the bigger guys: The median SaaS and Cloud stock was up 41% in 2023! So 2023 was a weird year. 2021 was nuts, with crazy growth and crazy multiples. And 2023? Still, an odd year.

Startup 177

Startup SaaS AI Pricing 177

SaaStr

JUNE 24, 2023

So the markets are still down and multiples are still low, but growth rates in SaaS and Cloud are slowly creeping back. AI has driven a number of rapid unicorns, and at SaaStr Europa 2023, Iconiq Growth noted that while they did 0 brand new growth investments in 2022, they’d already done 5 in the first half of 2023.

Cloud 220

Cloud AI Acquisition Branding 220

Kellblog

DECEMBER 27, 2021

Before diving in, let me remind readers that I do these predictions in the spirit of fun, they are not business or investment advice, and that all of my usual disclaimers and terms apply. Kellblog Predictions for 2022. Well, here we go with our predictions for 2022. Change to cloud-native. Are multiples down?

Blockchain 142

Blockchain Technical Review Venture Capital Sales Hiring 142

SaaStr

FEBRUARY 16, 2023

We’ll see 2,500+ of the best SaaS founders, execs, and VCs June 6-7 at 2022 SaaStr Europa ! For over 20 years, Exclaimer has been providing world-class on-premises and cloud-based email signature software and solutions for Microsoft 365 (formerly Office 365, Google Workplace (formerly G Suite), and Microsoft Exchange.

Cybersecurity 239

Cybersecurity Venture Capital compliance Government 239

SaaStr

AUGUST 10, 2022

Cloud revenue growing 55% — and Atlassian reaffirms 50% Cloud growth for 2023 and 2024 also! 2000,000 Cloud Customers with an NRR of 130%, and 140% from “Large” Customers. — Jason 2022 SaaStr Annual Sep 13-15 Lemkin (@jasonlk) August 9, 2022. #5. 5 Interesting Learnings. #1.

Scale 231

Scale Headcount Cloud Business Model 231

SaaStr

SEPTEMBER 3, 2023

Almost all Cloud and SaaS leaders have become profitable. How SaaS Is Fairing in the Macro Economy It’s crazy how much more efficient the leaders in SaaS and Cloud have gotten in one year. But then 2022 hit, and things changed for some companies. Founders view 2022 as an anomaly, which is a mistake. Lemkin asked him.

Sales Hiring 233

Sales Hiring Headcount Finance Technical Review 233

Tom Tunguz

APRIL 1, 2024

In fiscal 2023, we began transitioning customers from our legacy CDM (Cloud Data Management) capabilities to our subscription-based RSC offerings. The contribution margin has improved from -117% in 2022, to -38% in 2023, to -12% in 2024. For most software companies, contribution margin is typically very high, around 80-90%.

Data 181

Data Subscription Payment Features Cloud 181

SaaStr

JUNE 11, 2022

jasonlk) June 9, 2022. But with SaaS and Cloud stock prices way, way down, venture markets are reacting far more to that than epic revenue growth. Hard to do 100x unicorn rounds when you’re under that kind of pressure: * Growth investors have capital, but valuations make investing tough. So what exactly is going on in SaaS?

Investment 296

Investment Cloud Startup Pricing 296

SaaStr

OCTOBER 25, 2023

Leveling Up PLG to Accelerate SMB Customers, Including More Attention to Onboarding I love seeing this, it can seem hard to invest heavily in small customers, but if you don’t especially invest in onboarding, that’s a big shame. In 2022, they had negative free cash flow of -3%. Just a year later, they are at +10%.

SMB 253

SMB AI Onboarding Cloud 253