SaaS stocks survive earnings, keeping the market warm for software startups, exits ~ The Tech News

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Friday 28 August 2020

SaaS stocks survive earnings, keeping the market warm for software startups, exits

AppyBro07:36No comments

We’re on the other end of nearly every single SaaS earnings report that you can name, with the exception of Slack, and shares of software companies are holding onto their year’s gains. Which means SaaS and cloud companies have made it through a somewhat steep gauntlet largely unscathed.

There were exceptions, of course, but when we consider public software and cloud companies, the tale of the tape is somewhat clear. And it appears to indicate that today’s huge revenue multiples will stick around for a while yet.

The Exchange explores startups, markets and money. You can read it every morning on Extra Crunch, or get The Exchange newsletter every Saturday.

This is great news for startups, given that delivering software as a managed service (SaaS) has become the most popular business model for upstart tech companies. If the set of public SaaS companies are richly valued, it reflects well on their private peers. Warm public markets can help with exit valuations and provide encouragement to private investors to keep investing in SaaS startups.

The most recent earnings reports tell a somewhat simple story: Generally strong growth, and generally good forecasts. A few weeks back, Appian beat on revenue growth and profitability and guided a bit above market expectations. Given the nearly 50% run company’s stock that it has enjoyed in 2020, the results were welcome.

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