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ServiceTitan: Benchmarking the S1 Data

Clouded Judgement

Today, we capture on average approximately 1% of our customers’ GTV as revenue from their subscription to and current usage of our products. ”” Benchmark Data The data shown below depicts how the ServiceTitan data compares to the operating metrics of current public SaaS businesses.

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Clouded Judgement - 3.28.25 - The New AI Risk Curve

Clouded Judgement

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. Companies that do not disclose subscription rev have been left out of the analysis and are listed as NA.

Cloud 299
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Clouded Judgement 5.16.25 - Net New ARR Trends

Clouded Judgement

As you all know, one of my favorite metrics to look at is net new ARR added in a quarter. For those who don’t, I will take quarterly subscription revenue x 4 as a proxy for ARR. Given most software companies are not profitable, or not generating meaningful FCF, it’s the only metric to compare the entire industry against.

Trends 144
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Clouded Judgement 3.21.25 - M&A Roars Back

Clouded Judgement

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. Companies that do not disclose subscription rev have been left out of the analysis and are listed as NA.

Cloud 188
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5 Metrics Every SaaS Company Should Care About In Any Market Environment with Salesforce Ventures Investor Jessica Bartos (Video)

SaaStr

In this week’s Workshop Wednesday , Salesforce Ventures Investor, Jessica Bartos, shares the 5 metrics every SaaS company should care about in any market environment, especially the one we’re currently in. Growth Is Still Number One Growth is still the number one metric, but it’s not the only one. You do that by showing momentum.

Metrics 264
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Clouded Judgement 12.20.24 - The Fed Bomb

Clouded Judgement

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. Companies that do not disclose subscription rev have been left out of the analysis and are listed as NA.

Cloud 144
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Clouded Judgement 1.24.25 - The Year of Enterprise AI

Clouded Judgement

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. Companies that do not disclose subscription rev have been left out of the analysis and are listed as NA.