Public SaaS Valuations
Valuation benchmarks for public SaaS companies. Data for Q2 2026.
| Company | Market Cap | ARR Multiple | Revenue | Growth | Gross Margin | Op. Margin | AI Risk |
|---|---|---|---|---|---|---|---|
Samsara Inc.(IOT) | 21.7B | 11.3x | 478.8M↑ 34.5M | 7.8%↑ +1.0% | 75.4%↓ -0.7% | 1.5%↓ -0.5% | 23/100 |
 SHOPIFY INC.(SHOP) | 160.0B | 11.2x | 3.6B↑ 413.0M | 13.0%↑ +26.7% | 47.7%↓ -1.1% | 13.6%↑ +1.6% | 35/100 |
MANHATTAN ASSOCIATES INC(MANH) | 11.0B | 9.3x | 297.8M↑ 15.6M | 5.5%↑ +1.1% | 56.5%↑ +1.4% | 22.2%↓ -0.8% | 22/100 |
AGILYSYS INC(AGYS) | 3.2B | 9.0x | 87.7M↑ 4.7M | 5.7%↑ +2.5% | 63.5%↓ -0.9% | 11.1%↓ -4.1% | 28/100 |
VEEVA SYSTEMS INC(VEEV) | 28.7B | 8.1x | 882.9M↑ 47.0M | 5.6%↑ +2.6% | 75.0%↑ +0.5% | 30.9%↑ +1.5% | 11/100 |
Guidewire Software, Inc.(GWRE) | 11.6B | 7.8x | 372.5M↑ 13.4M | 3.7%↓ -4.2% | 63.5%↓ -0.9% | 8.2%↓ -2.5% | 9/100 |
Doximity, Inc.(DOCS) | 4.4B | 7.5x | 145.4M↓ -39.7M | -21.4%↓ -31.3% | 86.7%↓ -3.2% | 17.1%↓ -21.8% | 9/100 |
BENTLEY SYSTEMS INC(BSY) | 10.5B | 6.2x | 424.2M↑ 32.6M | 8.3%↑ +4.0% | 82.6%↑ +0.7% | 29.8%↑ +9.7% | 82/100 |
PROCORE TECHNOLOGIES, INC.(PCOR) | 8.4B | 5.6x | 375.2M↑ 15.9M | 4.4%↑ +1.5% | 79.9%↓ -0.2% | 1.1%↑ +5.5% | 19/100 |
APPFOLIO INC(APPF) | 6.0B | 5.3x | 281.1M↑ 18.9M | 7.2%↑ +1.6% | 0.0%↑ +0.0% | 18.8%↓ -0.5% | 26/100 |
TYLER TECHNOLOGIES INC(TYL) | 12.8B | 5.0x | 645.1M↑ 31.6M | 5.2%↓ -1.5% | 47.6%↓ -0.7% | 14.7%↓ -1.5% | 16/100 |
Q2 Holdings, Inc.(QTWO) | 4.1B | 4.7x | 219.8M↑ 3.3M | 1.5%↓ -2.5% | 59.3%↑ +0.2% | 13.3%↑ +0.6% | 9/100 |
Blend Labs, Inc.(BLND) | 508.7M | 4.1x | 30.8M↓ -1.6M | -4.9%↓ -3.6% | 75.8%↑ +0.4% | -16.4%↓ -2.5% | 9/100 |
MITEK SYSTEMS INC(MITK) | 860.0M | 3.9x | 54.8M↑ 10.6M | 23.9%↑ +27.2% | 0.0%↑ +0.0% | 24.7%↑ +12.4% | 11/100 |
ALKAMI TECHNOLOGY, INC.(ALKT) | 2.0B | 3.9x | 129.8M↑ 3.7M | 2.9%↓ -1.5% | 56.9%↓ -1.7% | -5.9%↓ -1.4% | 8/100 |
EverCommerce Inc.(EVCM) | 2.2B | 3.7x | 147.5M↓ -3.7M | -2.4%↓ -4.9% | 0.0%↑ +0.0% | 8.5%↓ -0.3% | 56/100 |
Intellicheck, Inc.(IDN) | 80.9M | 3.7x | 5.5M↓ -490.0K | -8.2%↓ -25.5% | 91.0%↑ +0.5% | 9.8%↑ +5.8% | 24/100 |
SPS COMMERCE INC(SPSC) | 2.7B | 3.4x | 197.8M↑ 5.7M | 3.0%↑ +1.8% | 70.2%↑ +1.0% | 4.3%↓ -8.5% | 26/100 |
Certara, Inc.(CERT) | 1.3B | 3.4x | 93.3M↓ -13.6M | -12.8%↓ -15.9% | 0.0%↑ +0.0% | -0.2%↑ +3.8% | 9/100 |
Intapp, Inc.(INTA) | 1.9B | 3.2x | 146.0M↑ 5.8M | 4.2%↑ +3.3% | 75.7%↑ +0.7% | -9.8%↓ -4.6% | 9/100 |
Toast, Inc.(TOST) | 19.9B | 2.6x | 1.9B↑ 278.0M | 17.1%↑ +17.2% | 27.0%↓ -0.4% | 8.0%↑ +1.2% | 19/100 |
nCino, Inc.(NCNO) | 1.6B | 2.6x | 159.4M↑ 9.7M | 6.5%↑ +8.2% | 63.3%↑ +1.9% | 13.3%↑ +11.4% | 9/100 |
Alarm.com Holdings, Inc.(ALRM) | 2.5B | 2.3x | 265.2M↑ 3.5M | 1.4%↓ -0.7% | 65.9%↓ -0.1% | 11.9%↓ -1.4% | 33/100 |
Weave Communications, Inc.(WEAV) | 539.8M | 2.1x | 65.5M↑ 2.1M | 3.3%↓ -0.1% | 72.6%↓ -0.1% | -9.2%↓ -5.8% | 27/100 |
BLACKBAUD INC(BLKB) | 2.0B | 1.7x | 290.6M↑ 9.5M | 3.4%↑ +8.1% | 61.3%↑ +2.1% | 21.3%↑ +3.0% | 12/100 |
Spok Holdings, Inc(SPOK) | 236.4M | 1.7x | 35.0M↑ 1.8M | 5.4%↑ +7.3% | 80.5%↑ +3.7% | 15.5%↑ +8.1% | 10/100 |
CS Disco, Inc.(LAW) | 268.9M | 1.6x | 43.1M↑ 1.3M | 3.0%↑ +1.3% | 74.4%↑ +0.2% | -21.4%↑ +2.7% | 11/100 |
PAR TECHNOLOGY CORP(PAR) | 714.6M | 1.4x | 124.0M↑ 4.8M | 4.0%↓ -2.0% | 44.0%↑ +2.7% | -11.2%↑ +3.6% | 26/100 |
Health Catalyst, Inc.(HCAT) | 165.5M | 0.6x | 70.8M↓ -3.9M | -5.3%↓ -3.1% | 0.0%↑ +0.0% | -150.5%↓ -35.2% | 16/100 |
FiscalNote Holdings, Inc.(NOTE) | 2.4M | 0.0x | 20.0M↓ -2.2M | -9.8%↓ -8.8% | 0.0%↑ +0.0% | -212.3%↓ -128.6% | 42/100 |
DESCARTES SYSTEMS GROUP INC(DSGX) | — | — | — | — | — | — | 19/100 |
Jamf Holding Corp.(JAMF) | — | — | — | — | — | — | 9/100 |
SEC filings often mix pure quarterly figures (3 months) with year-to-date (YTD) figures (6 months in Q2, 9 months in Q3) in their 10-Q reports. In this case, the results are normalized to a 3-month period.