Clouded Judgement

JUNE 9, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Subscribe now Consumption Trends We’re now through earning season. Is there any incremental signal on consumption trends reversing? They were also more constructive on cloud optimizations bottoming.

Trends 130

Trends Cloud Azure AWS 130

Tom Tunguz

OCTOBER 22, 2023

On November 8th, I’ll share my 10 Top Trends in Data & AI at the IMPACT Summit. Last year, I covered 9 topics: Cloud data warehouses will process 75% of workloads by 2024. Data workloads segment into in-memory, cloud data warehouse, & cloud data lakes. Metrics layers unify the data stack.

Trends 220

Trends AI Data Cloud 220

Clouded Judgement

MAY 3, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. Subscribe now Cloud Giants Report Q1 + Early Look at Software Results Q1 earnings seasons has officially kicked off! ” Full quote below: “We're seeing a few trends right now. .” Follow along to stay up to date!

Cost optimization & reporting 183

Cost optimization & reporting Cloud Software Azure 183

Clouded Judgement

MAY 17, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. Given most software companies are not profitable, or not generating meaningful FCF, it’s the only metric to compare the entire industry against. I created this subset to show companies where FCF is a relevant valuation metric.

Cloud 152

Cloud Subscription Payment Features Metrics 152

Clouded Judgement

FEBRUARY 2, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. Subscribe now Cloud Giants Report Q4 ‘23 Two quotes from the Amazon and Microsoft earnings call really stood out to me this week. Sometimes they’re classic cloud migrations. Follow along to stay up to date!

Cost optimization & reporting 161

Cost optimization & reporting Cloud Azure AWS 161

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. AWS was the the most positive sounding when it came to trends around optimizations. Follow along to stay up to date!

Cost optimization & reporting 152

Cost optimization & reporting Cloud Azure AWS 152

Clouded Judgement

DECEMBER 1, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. But early signs seem positive Some Positive Trends on Net New ARR We’re about 80% of the way through earning season and can start looking at signs for overall trends. We’re still in the early days of the cloud.”

AWS 293

AWS Cloud AI Search Cost optimization & reporting 293

Clouded Judgement

MARCH 15, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. Given most software companies are not profitable, or not generating meaningful FCF, it’s the only metric to compare the entire industry against. I created this subset to show companies where FCF is a relevant valuation metric.

Cloud 161

Cloud Software Review Subscription Payment Features 161

Clouded Judgement

MARCH 10, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Consumption Chart Last week I talked a bit about consumption trends. It sounds like most are guiding as if there’s no improvement to consumption trends coming throughout the full year. Follow along to stay up to date!

Cloud 244

Cloud Trends Subscription Payment Features 244

Clouded Judgement

JANUARY 5, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. In the basket I track and discuss in Clouded Judgement (~80 companies), no one is up on the year. I created this subset to show companies where FCF is a relevant valuation metric. Subscribe now Share Clouded Judgement Leave a comment

Cloud 152

Cloud Trends Subscription Payment Features 152

Clouded Judgement

MAY 24, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. Given most software companies are not profitable, or not generating meaningful FCF, it’s the only metric to compare the entire industry against. I created this subset to show companies where FCF is a relevant valuation metric.

Cloud 152

Cloud Software Scale Headcount 152

Clouded Judgement

JANUARY 12, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. Founders should always be aware of what metrics would be required to exit at the valuation they’re raising at under standard exit multiple assumptions (I hope my weekly posts help shed light on what “standard” multiples are).

Cloud 284

Cloud Venture Capital Acquisition Metrics 284

Clouded Judgement

APRIL 26, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. Subscribe now Azure Report - Cloud Infra Looks Good! The full quote is below: “We expect capital expenditures to increase materially on a sequential basis driven by cloud and AI infrastructure investments.

Azure 177

Azure Cloud Software AI 177

Clouded Judgement

MAY 10, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. Given most software companies are not profitable, or not generating meaningful FCF, it’s the only metric to compare the entire industry against. I created this subset to show companies where FCF is a relevant valuation metric.

Cloud 161

Cloud Software GCP(Google Cloud Platform) Azure 161

Clouded Judgement

DECEMBER 22, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Given most software companies are not profitable, or not generating meaningful FCF, it’s the only metric to compare the entire industry against. I created this subset to show companies where FCF is a relevant valuation metric.

Cloud 177

Cloud Subscription Payment Features Metrics 177

Clouded Judgement

DECEMBER 29, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Subscribe now 2023 Top Performers In 2023, there were 14 cloud software companies that were up 100%+ this year (in the index I track of ~80 total)! I created this subset to show companies where FCF is a relevant valuation metric.

Cloud 189

Cloud Software Review Subscription Payment Features 189

Clouded Judgement

DECEMBER 8, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Overall, I’d describe the tagline of Q3 software performance as “stabilizing trends with some green-shoots starting to show up.” I created this subset to show companies where FCF is a relevant valuation metric.

Cloud 161

Cloud Software Review Headcount Trends 161

Clouded Judgement

APRIL 14, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Net New ARR Slowdown It’s no secret that cloud software businesses have seen headwinds over the last couple quarters. No one has visibility into when this trend reverses. Follow along to stay up to date! YoY vs consensus of 5.1%.

Cloud 169

Cloud Subscription Payment Features Trends 169

Clouded Judgement

AUGUST 4, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Subscribe now Cloud Giants Update “What we're seeing in the quarter is that those cost optimizations, while still going on, are moderating and many maybe behind us in some of our large customers. Follow along to stay up to date!

Cloud 130

Cloud Azure Cost optimization & reporting AWS 130

Clouded Judgement

FEBRUARY 23, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. For both of those metrics I look at NTM (next twelve months) vs LTM (last twelve months). Of course, there are way more factors than just growth / FCF when determining valuation, so this is a crude metric.

Cloud 152

Cloud Metrics Revenue Subscription 152

Clouded Judgement

APRIL 19, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. Given most software companies are not profitable, or not generating meaningful FCF, it’s the only metric to compare the entire industry against. I created this subset to show companies where FCF is a relevant valuation metric.

Cloud 141

Cloud Scale Subscription Payment Features 141

Clouded Judgement

MARCH 8, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. Given most software companies are not profitable, or not generating meaningful FCF, it’s the only metric to compare the entire industry against. I created this subset to show companies where FCF is a relevant valuation metric.

Cloud 161

Cloud Revenue Subscription Payment Features 161

Clouded Judgement

NOVEMBER 24, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Given most software companies are not profitable, or not generating meaningful FCF, it’s the only metric to compare the entire industry against. I created this subset to show companies where FCF is a relevant valuation metric.

Cloud 161

Cloud Subscription Payment Features Metrics 161

Clouded Judgement

FEBRUARY 9, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. Given most software companies are not profitable, or not generating meaningful FCF, it’s the only metric to compare the entire industry against. I created this subset to show companies where FCF is a relevant valuation metric.

Cloud 195

Cloud Pricing Startup Revenue 195

Clouded Judgement

APRIL 12, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. Given most software companies are not profitable, or not generating meaningful FCF, it’s the only metric to compare the entire industry against. I created this subset to show companies where FCF is a relevant valuation metric.

Cloud 141

Cloud Subscription Payment Features Revenue 141

Tom Tunguz

JULY 30, 2020

Yesterday, Dremio hosted the Subsurface Conference , the first conference on cloud data lakes. If one had doubts that cloud data lakes are a strategic area for many in the data ecosystem, those figures should quash them. Entitled 5 Data Trends You Should Know, the presentation covers the major trends we observe in the data world.

Trends 333

Trends Data Machine Learning Artificial Intelligence 333

Clouded Judgement

SEPTEMBER 8, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. I’ve put together a number of charts below to show how metrics from this quarter compared to prior quarters. This isn’t the entire set of companies I track, but a subset of ~60 (broad enough sample set to see emerging trends).

Cloud 169

Cloud Software Review AWS Trends 169

Clouded Judgement

OCTOBER 20, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Hyperscaler Preview Next week Amazon, Microsoft and Google report earnings and we’ll see Q3 data for AWS, Azure and Google Cloud. I created this subset to show companies where FCF is a relevant valuation metric.

Cloud 161

Cloud Azure AWS Software Review 161

Clouded Judgement

AUGUST 18, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Now let’s look at some Q2 software earnings data starting with net new ARR trends. Given most software companies are not profitable, or not generating meaningful FCF, it’s the only metric to compare the entire industry against.

Cloud 243

Cloud Software Review Subscription Payment Features 243

Clouded Judgement

JANUARY 26, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. Net new ARR is something I track very closely for all of the private companies I work with, and it’s also an important metric to look at in public companies. Follow along to stay up to date!

Cloud 161

Cloud Marketplace as a Service AI Subscription 161

Clouded Judgement

FEBRUARY 10, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Given most software companies are not profitable, or not generating meaningful FCF, it’s the only metric to compare the entire industry against. Subscribe now Share Clouded Judgement Leave a comment Hard Landing? Soft Landing?

Cloud 268

Cloud Software Review Technical Review Systems Review 268

Clouded Judgement

FEBRUARY 16, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. ” From AWS (paraphrased): They said they expect the reaccleration they saw in Q4 to continue into 2024 2024 Estimate Updates One important metric I’m tracking this quarter is the change in 2024 estimates pre / post earnings.

Cloud 161

Cloud AWS Metrics Subscription 161

Clouded Judgement

APRIL 28, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. AWS (Amazon), Azure (Microsoft), and Google Cloud (Google) all reported this week. It’s pretty well understood that consumption trends will bottom and reverse prior to seat based purchasing. Follow along to stay up to date!

Cloud 130

Cloud Azure AWS AI Search 130

SaaStr

AUGUST 22, 2021

Recently Bessemer Venture Partners did another great deep give on Cloud metrics at the Cloud 100. They’ll update their classic “State of the Cloud” on Sep 27-29 at SaaStr Annual 2021 in the SF Bay Area so come join us there for the latest! We’ve all seen this, but the trend is accelerating.

Cloud 314

Cloud Scale SaaS Acquisition 314

Clouded Judgement

APRIL 21, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. If we look at the trends in their most recent quarters YoY growth rates (below) you’ll see the deceleration has been meaningful. Follow along to stay up to date! Q1 Earnings Season We’re on the eve of Q1 earning season.

Cloud 130

Cloud Azure AWS GCP(Google Cloud Platform) 130

SaaStr

MARCH 16, 2021

We’ve used various bits of the BVP Nasdaq Index and metrics since they launched a few years ago to highlight trends in SaaS and Cloud. This week even after a pullback, public SaaS and Cloud companies are up an eve 1000% (!) SaaS and Cloud are up +1000% since 2013. since 2013. But does it even matter?

Cloud 307

Cloud SaaS Trends Metrics 307

SaaStr

SEPTEMBER 23, 2022

The unpredictable market has given rise to new trends and a new type of elite company, which Bessemer Venture Partners have dubbed the Centaur. Cloud Stocks Impacted by Macro Environment. Cloud 100 multiples have fallen in 2022 –– ARR multiples rose nearly fourfold from 9x in 2016 to 34x in 2021 and down to 30x in 2022.

Cloud 234

Cloud Trends Benchmarks Business Model 234