A Look Back at Q1 '25 Public Cloud Software Earnings
Clouded Judgement
JUNE 17, 2025
The overall software universe quarterly YoY growth has come down meaningfully from highs, but has started to stabilize. I’m calculating FCF by taking the Operating Cash Flow and subtracting CapEx and Capitalized Software Costs. The growth shown below is a year-over-year growth for reported quarters.
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