So I wanted to do a little weekly look at who in SaaS and Cloud is doing well. These are tougher times for almost everyone than the Go Go Days of 2021. Budgets are being scrutinized, and even the best are growing more slowly in many cases.
But many are still doing well — as Cloud and SaaS spend continues to hit record levels.
So a quick look at who’s doing well this week:
#1. Dynatrace: Growing 29% at $1.25 Billion in ARR. Cybersecurity remains both hot and critical.
#2. HubSpot Growing 30% at $2 Billion in ARR. Yes, down a bit from the epic growth rates of 2021, but still mighty impressive.
#3. Atlassian Growing 24% at $3.7 Billion in ARR, with 38% free-cash flow. Mighty, mighty impressive.
Atlassian quarter:
– $915M rev (+24% YoY) vs $901M consensus (2% beat)
– $910M next Q guidance vs $917M consensus (1% miss)
– $761M subs rev (+37% YoY)
– 14 months GM adj. CAC payback
– 82% GM
– 38% FCF Margin$TEAM— Jamin Ball (@jaminball) May 4, 2023
#4. Monday.com growing a stunning 50% at $640m in ARR. I mean, wow. And its $50k+ customers are growing an epic 75%.
Yes, it’s harder out there folks. Customers do real work now before they buy. Budgets have flattened in many cases. But everyone is still buying software. Even if not just as quickly as before.
.@Dynatrace delivered an exceptional finish to FY23, with fourth-quarter results exceeding expectations. These results are a testament to the significant customer value of our unified observability and security platform as well as our people and partners. https://t.co/D9ohDbPD14
— Rick McConnell (@rickmmcc) May 17, 2023
And a related post here:
