Clouded Judgement

OCTOBER 20, 2023

Hyperscaler Preview Next week Amazon, Microsoft and Google report earnings and we’ll see Q3 data for AWS, Azure and Google Cloud. Office 365 Copilot, for example, doesn’t go live until November and we most likely won’t see meaningful revenue from it until next year. Overall Stats: Overall Median: 5.7x

Cloud 161

Cloud Azure AWS Software Review 161

Clouded Judgement

AUGUST 4, 2023

You can see more detail about their net new ARR added each quarter below Azure Growth came in at 27%, and guided to 25-26% growth for Q3. Revenue multiples are a shorthand valuation framework. Multiples shown below are calculated by taking the Enterprise Value (market cap + debt - cash) / NTM revenue. Top 5 Median: 16.1x

Cloud 130

Cloud Azure Cost optimization & reporting AWS 130

Clouded Judgement

APRIL 28, 2023

AWS (Amazon), Azure (Microsoft), and Google Cloud (Google) all reported this week. Azure reported on Tuesday and gave us that glimmer of hope. Azure : Coming into the quarter, a growth rate that would have satisfied the market would have been ~29%. Azure came in at 31% (constant currency). Follow along to stay up to date!

Cloud 130

Cloud Azure AWS AI Search 130

Clouded Judgement

JANUARY 6, 2023

Cloud Downgrades This week UBS came out with a couple research reports citing concerns in AWS / Azure growth. This brings me back to AWS / Azure downgrades. This was the worst tone that we’ve heard in years from large AWS/Azure partners, a group that usually expresses different shades of optimism about AWS/Azure growth.”

Cloud 130

Cloud Azure AWS Underperforming Technical Team 130

SaaStr

OCTOBER 13, 2022

ChartMogul is an analytics platform to help you run your subscription business. Our mission is to build powerful and secure cloud software for subscription businesses of all sizes, with a strong emphasis on good design and ease of use.

GCP(Google Cloud Platform) 190

GCP(Google Cloud Platform) Azure AWS Enterprise readiness 190

Clouded Judgement

OCTOBER 28, 2022

Hyperscalers Report Quarterly Earnings This week we saw AWS (Amazon), GCP (Google) and Azure (Microsoft) report earnings. At the same time, Azure came in below expectations. Azure called out an incremental $800m of costs expected throughout the year (they just finished their Fiscal Q1). Overall Stats: Overall Median: 5.2x

Cloud 130

Cloud Azure AWS Cost optimization & reporting 130

Clouded Judgement

JULY 28, 2023

AI = Data + Compute I’ll continue beating this drum, but we got two great quotes from Azure and AWS this week. This week we had two of the hypserscalers report (Microsoft / Azure and Google / GCP), and everyone was eager to see their results. The bars represent the YoY revenue growth, and the yellow line is the stock price.

Cloud 130

Cloud Azure AWS GCP(Google Cloud Platform) 130

Clouded Judgement

JUNE 9, 2023

Expansion revenue is still declining (we see this in falling net retention rates), but gross retention remains strong. Usage on Snowflake is driven by queries run on Snowflake Azure: Neutral Tone With Strength in AI Overall I’d characterize Azure’s quarter as a net positive. Overall Stats: Overall Median: 5.7x

Trends 130

Trends Cloud Azure AWS 130

Clouded Judgement

JANUARY 27, 2023

Azure (Microsoft) Quarter The week the first of the cloud giants reported - Azure. Early Look at 2023 Guides Given the Azure weakness reported on Tuesday, all software tumbled Wednesday morning with most names down 5-10%. Revenue multiples are a shorthand valuation framework. Follow along to stay up to date!

Cloud 141

Cloud Azure Pricing Subscription 141

Clouded Judgement

APRIL 21, 2023

Next week we get all 3 hyperscalers reporting (AWS from Amazon, Azure from Microsoft, and GCP from Google). Let’s double click on Azure. Revenue multiples are a shorthand valuation framework. Multiples shown below are calculated by taking the Enterprise Value (market cap + debt - cash) / NTM revenue.

Cloud 130

Cloud Azure AWS GCP(Google Cloud Platform) 130

Clouded Judgement

NOVEMBER 10, 2023

Hyperscalers (AWS, Azure, GCP as companies look for cloud GPUs who aren’t building out their own data centers) Infra (Data layer, orchestration, monitoring, ops, etc) Durable Applications We’ve clearly well underway of the first 3 layers monetizing. Revenue multiples are a shorthand valuation framework. Bucketed by Growth.

Cloud 183

Cloud Artificial Intelligence AI GCP(Google Cloud Platform) 183

Clouded Judgement

AUGUST 11, 2023

While the overall median revenue multiple of the software universe is ~6x (which is ~25% below the long term average of ~8x), high growth software is currently trading at a premium to it’s long term average (9.4x The hyperscalers (AWS, Azure, GCP) are seeing some uptick, but this is largely from selling compute (ie cloud GPUs).

Cloud 130

Cloud Trends Azure GCP(Google Cloud Platform) 130

Stax

APRIL 18, 2024

Independent Software Vendors (ISVs) and Software-as-a-Service Providers (SaaS) operate within the same market, thus creating a push-and-pull revenue dynamic. SaaS companies deliver software applications over the internet on a subscription basis, simplifying access and management for users. What are SaaS companies?

Outsourcing Services 88

Outsourcing Services SaaS Payments Payment Services Payment Methods 88

Clouded Judgement

NOVEMBER 3, 2023

Pure revenue multiples are trading at a 31% discount to their long term average (5.4x Maybe with the exception of hyperscalers (particularly Azure). 4x NTM revenue for Confluent sounds super cheap. Revenue multiples are a shorthand valuation framework. That’s a huge move up for the index! So what’s going on??

Software Review 161

Software Review Cloud Software Azure 161

Clouded Judgement

MAY 26, 2023

Azure / Confluent / Datadog reported a few weeks back (they all had March quarter ends), and their commentary suggested the worst was behind us. Revenue multiples are a shorthand valuation framework. Multiples shown below are calculated by taking the Enterprise Value (market cap + debt - cash) / NTM revenue. Top 5 Median: 13.0x

Cloud 141

Cloud Azure Trends Retention 141

SaaStr

NOVEMBER 14, 2023

Then, we moved to a more customer-friendly model with SaaS and subscription-based pricing. What’s evolved over the years and is driven by hyper-scalers like Google Azure, AWS, Twilio, and Stripe is the consumption-based model. Product: Needs to invest in tooling to support GTM teams. The lines will blur.

Compensation 173

Compensation Sales Azure AWS 173

Blulogix

NOVEMBER 8, 2023

Traditional pricing models, such as fixed subscriptions and one-time purchases, no longer align with the dynamic and ever-evolving nature of this sector. Subscription Billing The Evolution of Pricing Models in the Technology Industry The technology industry has undergone significant transformations in recent years.

Technology 52

Technology Pricing Payment Features Subscription 52

Clouded Judgement

FEBRUARY 3, 2023

In the short term, enjoy the ride as the chase continues 😊 Kind of related to all of this - we now have seen the Q4’s from AWS, Azure and Google Cloud. Revenue multiples are a shorthand valuation framework. Multiples shown below are calculated by taking the Enterprise Value (market cap + debt - cash) / NTM revenue.

Cloud 130

Cloud Azure AWS Generative AI 130

Clouded Judgement

FEBRUARY 17, 2023

As you can tell, there’s a BIG drop-off projected in 2023 Like Azure, they called for a big slowdown of consumption trends in the month of December. Revenue multiples are a shorthand valuation framework. Multiples shown below are calculated by taking the Enterprise Value (market cap + debt - cash) / NTM revenue.

Cloud 130

Cloud Azure Revenue Subscription 130

Clouded Judgement

JUNE 20, 2023

On the Microsoft earnings call they said (related to Azure): “But at some point, workloads just can't be optimized much further. Beating consensus revenue estimates is the first aspect of a successful quarter. The formula to calculate this is: (Q1 ’23 revenue) / (Q1 ’22 revenue) - 1.

Cloud 161

Cloud Software Benchmarks Scale 161

SaaStr

MARCH 31, 2022

Azure’s marketplace has over 4 million monthly visitors. million subscriptions transacted and Google’s marketplace has seen 3X growth in SaaS sales. It’s definitely an investment that requires that kind of executive level visibility. AWS’s marketplace has seen 1.5 Rico Mallozzi: Yeah. Good advice.

Scale 198

Scale Marketplace as a Service Cloud SaaS Payments 198

OpenView Labs

FEBRUARY 9, 2021

But growing with a usage-model is not as straightforward as traditional subscription SaaS. Though it was pioneered in the infrastructure layer (think: AWS and Azure), it’s becoming increasingly popular for API-based products and application software. Consumption-based revenue isn’t as predictable as subscription-based revenue.

Scale 98

Scale Pricing Scaling AWS 98

ProfitWell

MAY 12, 2020

Some SaaS products allow the user to download the application, but require an internet connection to confirm their subscription for it to operate. SaaS ensures that consumers are always up to date with the latest version, while also ensuring that developers have a continuing source of revenue with which to maintain their product.

Cloud 59

Cloud Azure SaaS Underperforming Technical Team 59

OpenView Labs

FEBRUARY 11, 2021

As a founder, you can use this 84 cents to pay salaries, office rent, dividends, or invest in R&D. Now, for each segment, isolate its revenue and COGS. If revenue hides all sins, gross margin reveals them via segmentation. “If revenue hides all sins, gross margin reveals them via segmentation.

Scale 52

Scale Payment Methods Payment Services Systems Review 52

Chart Mogul

APRIL 7, 2022

Data editing tools make it possible to attain perfect accuracy from your billing data, and consequently, your subscription analytics. Grow your recurring revenue with ChartMogul. Growing a subscription business is hard work. Both can calculate MRR, churn, and ARPA – but only one can act as a hub of revenue data.

Payment Features 52

Payment Features Systems Review Churn Azure 52

SmartKarrot

SEPTEMBER 15, 2022

Scaling through SaaS accelerates this process by offering several benefits that make it easier for companies to grow without having to make major investments up front: Speed: SaaS solutions are easy to deploy and can be accessed from anywhere with an internet connection, which enables teams to work from any location at any time.

Scale 10

Scale Cloud Enterprise Scaling 10

OPEXEngine

FEBRUARY 15, 2022

Paired with gross margin (GM), cost of goods (COGs) tells investors in a single glance about the profitability of revenues, SaaS business model purity, and company efficiency. In the absence of formal reporting guidance, what remains in the middle are hazy stretches of uncertainty that can skew gross margin. . Why Does It Matter?

Benchmarks 52

Benchmarks Artificial Intelligence Systems Review Cloud 52

Navint

AUGUST 26, 2019

Apttus built their applications on the Microsoft Azure platform with the goal of opening new markets, specifically with Microsoft Dynamics CRM. Salesforce heavily invested in re-architecting and launched Salesforce CPQ & Billing as an enterprise solution that supports all business models. Fast-forward to Fall 2018.

Azure 40

Azure Outsourced Development Scale Finance 40

Neil Patel

JANUARY 21, 2021

These keys are free for personal blogs, but businesses and commercial sites will have to opt for paid subscriptions. #4 4 – Wordfence Security – The Best to Handle Security Concerns. Wordfence Security is a WordPress firewall and security scanner plugin. 6 – MonsterInsights – The Best for Data Tracking.

Payment Methods 145

Payment Methods Software Review Scale Payments 145

SmartKarrot

JANUARY 18, 2022

India has seen exponential growth in SaaS investments in the last decade. A report from Bain & Company predicted that “Indian SaaS companies will reach $30 billion in revenue by the year 2025”. Instead of marketing, Zoho invests in R&D and customer service. Zoho is committed to offering outstanding customer service.

SaaS Payments 11

SaaS Payments Payment Solutions Payment Methods Payments 11