Clouded Judgement

MARCH 7, 2025

Every week I’ll provide updates on the latest trends in cloud software companies. Quarterly Reports Summary Top 10 EV / NTM Revenue Multiples Top 10 Weekly Share Price Movement Update on Multiples SaaS businesses are generally valued on a multiple of their revenue - in most cases the projected revenue for the next 12 months.

Cloud 157

Cloud Forecasting Subscription Payment Features 157

Tom Tunguz

APRIL 30, 2024

Aside from the overall growth of these clouds increasing, the massive investment in CapEx data centers, power plants, and GPUs is stunning. Here are some highlights from Amazon’s earnings : “We see considerable momentum on the AI front where we’ve accumulated a multibillion-dollar revenue run rate already.”

Cloud 311

Cloud AWS Azure AI 311

SaaStr

FEBRUARY 22, 2021

We did a deep dive on Google Cloud’s incredible numbers the other day here but there was one point in particular it’s worth doing a deep dive on. The point is that as crazy as SaaS and Cloud seems today, Google itself says we’re on our way to $1T+ in Cloud revenue by 2026/2027, and that things will triple by then.

Cloud 363

Cloud Revenue Product Marketing SaaS 363

SaaStr

OCTOBER 23, 2024

So some Cloud and SaaS stocks are on fire, even now. Why is Palantir the highest valued public SaaS and Cloud stock? Artificial Intelligence Platform (AIP) is a Year Old But Fueling $159m in Q2 Bookings Alone To some Cloud and SaaS leaders, AI is a table-stakes addition. And revenue is up +55%. The fire of the fire.

Artificial Intelligence 238

Artificial Intelligence Government AI Cloud 238

SaaStr

OCTOBER 23, 2024

in revenue. Then, in 2017, with around $50M in revenue, BILL added payment capabilities. He had the idea that the Cloud, not called the Cloud back then, would enable two entities to see the same transaction from their perspective. If we go back to 2006, BILL was a cloud-based company. Are We In a Downturn?

SMB 310

SMB Payment Services Payments Payment Methods 310

SaaStr

DECEMBER 18, 2024

Perhaps Databricks isn’t really SaaS, it’s Cloud + AI/Cloud infrastructure. The meta point is after a tough late 2023 and into 2024, SaaS, Cloud and more is back: In some cases, AI is the driver (Databricks, Palantir). But close enough for purposes of this post. Billion ARR.

AI 287

AI Cloud Enterprise SaaS 287

Clouded Judgement

FEBRUARY 14, 2025

Every week I’ll provide updates on the latest trends in cloud software companies. Revenue multiples are a shorthand valuation framework. Multiples shown below are calculated by taking the Enterprise Value (market cap + debt - cash) / NTM revenue. Follow along to stay up to date! consensus) and 0.5% YoY and 0.4%

Cloud 144

Cloud Software Subscription Payment Features 144

SaaStr

JANUARY 15, 2025

So Cloud and SaaS have had a bit of a rollercoaster the past 4 years, from the boom times of 2020-2021, to the tougher times overall of 2023, to the AI boom of 2024+. Top-tier growth, cash-flow positive, and very durable revenue. Wall Street wants revenue that is durable. Wall Street wants revenue that is durable.

Scaling 275

Scaling Cloud AI Engineering 275

Tom Tunguz

FEBRUARY 2, 2023

So far in the first month of the year, AWS year-over-year revenue growth is in the mid-teens. Google: [We] are pushing Google Cloud to Profitability. in revenue, GCP is at -7%, not far off breakeven, but a long way from AWS’ 30% profit margins. With an operating loss of $480m on 7.3b Amazon: Net sales increased $21.4

GCP(Google Cloud Platform) 314

GCP(Google Cloud Platform) Cloud AWS Sales Hiring 314

SaaStr

NOVEMBER 6, 2024

Revenue growth is up 21% overall, and subscription growth is up 33% — at almost $5 Billion in ARR. Raising Guidance and Growth Rate for Cloud Revenue To +24% a Year That’s pretty darn impressive growth at almost $5B in ARR, and just as importantly, they’re raising their prediction here. #2. Let’s dig in.

Enterprise 293

Enterprise Pricing Cloud AI 293

Clouded Judgement

FEBRUARY 7, 2025

Every week I’ll provide updates on the latest trends in cloud software companies. Cloud Giants Report Q4 ‘24 We now have the quarterly reports from Amazon, Microsoft and Google. They each have some of the largest cloud businesses in the world in AWS, Azure and Google Cloud respectively. Top 5 Median: 22.2x

Systems Review 144

Systems Review Cloud AI Artificial Intelligence 144

SaaStr

DECEMBER 14, 2023

In the latest installment of SaaStr’s What’s New series – where we sit down with the leaders in SaaS and Cloud for the inside scoop on what’s top of mind and what’s new, SaaStr CEO and Jason Lemkin chats with the CMO of Google Cloud, Alison Wagonfeld. They also compete with Microsoft in a big way.

Cloud 312

Cloud Scale AWS AI 312

Tom Tunguz

OCTOBER 23, 2023

Yesterday, both Google and Microsoft announced their earnings for their cloud businesses. ” “Higher-than-expected AI consumption contributed to revenue growth in Azure.” “In Azure, we expect revenue growth to be 26% to 27% in constant currency with an increasing contribution from AI.

AI Search 312

AI Search AI Cloud Azure 312

Clouded Judgement

JUNE 19, 2024

Q1 earnings season for cloud businesses is now behind us. The charts below show the change in quarterly revenue YoY (so Q1 ‘24 rev - Q1 ‘23 rev) going back to 2017. These charts clearly show the ZIRP pull forward, the ensuing cloud cost optimizations, and then the recovery.

Cloud 318

Cloud GCP(Google Cloud Platform) Software Azure 318

Clouded Judgement

NOVEMBER 18, 2024

There’s a lot of info to digest, so in the sections below I’ll try and pull out the relevant financial information and benchmark it against current cloud businesses. Today, we capture on average approximately 1% of our customers’ GTV as revenue from their subscription to and current usage of our products.

Benchmarks 299

Benchmarks Payments Payment Services SaaS Payments 299

SaaStr

SEPTEMBER 20, 2023

Discover Bessemer Venture Partners’s annual State of the Cloud report, going through trends, benchmarks, and metrics that underpin the Cloud economy. The past twelve months have been relatively turbulent for Cloud founders. What does this mean for Cloud companies? What does this mean for Cloud companies?

Cloud 309

Cloud Payments Software Review Payment Solutions 309

Clouded Judgement

MARCH 1, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. Revenue multiples are a shorthand valuation framework. Multiples shown below are calculated by taking the Enterprise Value (market cap + debt - cash) / NTM revenue. Follow along to stay up to date! Overall Stats: Overall Median: 6.2x

Cloud 317

Cloud AI Investment Metrics 317

Clouded Judgement

AUGUST 30, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. An example of a platform shift is the creation of the cloud. Many companies achieved a transformative leap by taking an on-prem solution and migrating it to the cloud, reaping all the associated benefits. Follow along to stay up to date!

Cloud 274

Cloud Venture Capital AI Startup 274

Clouded Judgement

AUGUST 16, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. Consider cloud computing: by lowering the cost of infrastructure, the cloud didn’t just shift spend from hardware to cloud services, it expanded the overall market by enabling new companies and applications to emerge.

Outsourcing Services 274

Outsourcing Services Cloud Software Outsourced Development 274

Clouded Judgement

JULY 12, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. I believe this sums up a lot of the debates around “too much capex too little revenue.” I believe this sums up a lot of the debates around “too much capex too little revenue.” Follow along to stay up to date!

Cloud 288

Cloud AI Investment User Experience 288

Clouded Judgement

MARCH 29, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. Revenue multiples are a shorthand valuation framework. Multiples shown below are calculated by taking the Enterprise Value (market cap + debt - cash) / NTM revenue. Follow along to stay up to date! Overall Stats: Overall Median: 6.4x

Cloud 284

Cloud Forecasting Subscription Payment Features 284

SaaStr

SEPTEMBER 23, 2022

In this informative SaaStr Annual session, Bessemer Partners Sameer Dholakia, Mary D’Onofrio, and Elliott Robinson present the State of Cloud report, a look at the latest in SaaS trends, predictions, and cloud economics. Cloud Stocks Impacted by Macro Environment. Reminder: Cloud Fundamentals Are Still Strong.

Cloud 307

Cloud Benchmarks Trends Business Model 307

SaaStr

MAY 22, 2024

OK Gartner is NOT a SaaS or Cloud company. And … 92% of its revenue is from subscriptions. Today, Gartner has now crossed $6 Billion in revenue, with a stunning $35 Billion market cap. 92% of Revenue is Recurring If you’ve bought Gartner research, you know this. And its very profitable. Not too shabby!

Revenue 295

Revenue Enterprise Cloud Pricing 295

Clouded Judgement

FEBRUARY 10, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Revenue multiples are a shorthand valuation framework. Multiples shown below are calculated by taking the Enterprise Value (market cap + debt - cash) / NTM revenue. Follow along to stay up to date! Hard Landing? Soft Landing? No Landing?

Cloud 273

Cloud Software Review Technical Review Systems Review 273

Clouded Judgement

SEPTEMBER 13, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. Quarterly Reports Summary Top 10 EV / NTM Revenue Multiples Top 10 Weekly Share Price Movement Update on Multiples SaaS businesses are generally valued on a multiple of their revenue - in most cases the projected revenue for the next 12 months.

Cloud 252

Cloud Forecasting Metrics Subscription 252

Clouded Judgement

DECEMBER 1, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Amazon and Snowflake have both made comments recently that Cloud Optimizations are starting to play second fiddle to net new workload growth. We’re still in the early days of the cloud.” Follow along to stay up to date!

AWS 299

AWS Cloud AI Search Cost optimization & reporting 299

SaaStr

APRIL 6, 2025

Billion in Revenue This Year. But Wont Be Profitable Until $125 Billion in Revenue, Per Bloomberg #5. The Secrets Inside Google Clouds Growth with Sarah Kennedy, Vice President Google Cloud Marketing #3. The Secrets Inside Google Clouds Growth with Sarah Kennedy, Vice President Google Cloud Marketing #3.

Scale 191

Scale Software Review Marketing Cloud 191

SaaStr

JANUARY 29, 2025

We’ll connect over poker, food, drinks and more: 200+ top Cloud, SaaS and AI CROs and VPs of Sales with 150+ top Cloud, SaaS and AI CEOs and founders Note: you must be at $1m ARR or above to apply, and you must be an exec or founder of a software company (no service providers or agencies or consulting firms, etc. — sorry!).

AI 260

AI Cloud Consulting Software 260

SaaStr

FEBRUARY 26, 2025

Nvidia, Google Cloud, Azure, etc. Only 21% of Salesforce’s Revenue is from … Sales This has been true for many years, but it often comes as a surprise to those that don’t know the company as well as they know its CRM. #2. They still do some for their largest customers, and it’s down to about 5% of revenues.

Scale 205

Scale Sales Hiring Azure Cloud 205

SaaStr

DECEMBER 9, 2024

If you haven’t attended one, almost every Wednesday we do a Free, Live SaaStr Workshop Wedneday at 10am PST with the best of SaaS and Cloud.

Cloud 261

Cloud AI Revenue SaaS 261

SaaStr

APRIL 12, 2022

The majority of its revenue is now from Bitcoin transactions, not “traditional” payments and software. And while growth has slowed a bit, its net revenues are still growing an impressive 29% at a $16 Billion run-rate. Square waited to go upmarket, but now like many Cloud leaders it’s a core engine of growth.

Payments 304

Payments SaaS Payments Payment Services Revenue 304

SaaStr

APRIL 14, 2025

With 200+ top AI demos and sessions from leaders like Perplexity, Google Cloud, GitHub, Rubrik and more, youll get the most comprehensive look at how AI is reshaping B2B. 150+ Sponsors Driving Innovation From the biggest names in cloud to the most exciting startups, our 150+ sponsors are showcasing the latest innovations in SaaS and AI.

VP of Engineering 204

VP of Engineering CTO Coach VPCs (Virtual Private Cloud) Scale 204

SaaStr

OCTOBER 6, 2023

So how are the top SaaS and Cloud companies doing in 2023? Bessemer’s latest Cloud 100 answers the question. Their top 100 SaaS and Cloud companies — the “Cloud 100” — are almost all at $100m+ ARR, and growing on average 55% year-over-year.

Cloud 291

Cloud Forecasting Retention SaaS 291

SaaStr

FEBRUARY 25, 2025

Unparalleled Networking Opportunities SaaStr Annual brings together thousands of SaaS, Cloud and AI executives, founders, VCs, and industry leaders under one roof across our 40+ acre campus, May 13-15 in SF Bay! VIP Networking app for B2B founders and execs attending (no service providers, sorry!)

Sales Recruiting 195

Sales Recruiting Scale CTO Hire Sales Hiring 195

SaaStr

JULY 24, 2023

Some SaaS and Cloud leaders have seen big impacts from the post-2020 hangover, but others keep accelerating. That’s about as good as it gets in SaaS and Cloud! Are we near or past the lows in SaaS and Cloud buying patterns? 2 — New Workloads Are Only A Small Percentage Of Today’s Revenue, But Are The Majority Of Tomorrows.

Revenue 245

Revenue Scale Sales Hiring Cloud 245

SaaStr

FEBRUARY 27, 2025

SaaStr is committed to having the most inclusive community in Cloud, SaaS and AI. Be actively employed at a post-revenue B2B / AI / SaaS operating company. We are happy to bring the next generation of Cloud execs to Annual, too! We provide priority to less-represented women. No agencies or service providers, sorry.

Venture Capital 231

Venture Capital Travel Cloud AI 231

Clouded Judgement

AUGUST 18, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Revenue multiples are a shorthand valuation framework. Multiples shown below are calculated by taking the Enterprise Value (market cap + debt - cash) / NTM revenue. Follow along to stay up to date! Overall Stats: Overall Median: 5.7x

Cloud 243

Cloud Software Review Subscription Payment Features 243