We’re back with our 13th edition of Vertical SaaS, Today — our monthly round up of how vSaaS is performing in the public markets.
Vertical SaaS, Today — 13th Edition
Key Metrics (As of 3/31/24)
- Total Number of Companies: 19 — No movement
- Total Market Cap: $325.34, a 2.6% increase from end of Jan ’24.
- Largest Market Cap: Shopify is still at the top spot with $99.3B of market cap (down $3.7B from end of Jan ‘24.)
- Lowest Market Cap: 2U’s market cap continues to decline. Currently the market cap is $32.6M, down from $69.8M.
- Average Market Cap: $17.1B, up from $16.7B.
- Average LTM Total Revenue: $1.9B, little to no movement.
- Highest LTM Total Revenue: $8.4B. Constellation Software still claims the top spot.
- Average LTM Gross Margin: Gross margin fairly consistent, at 57.7%.
- Highest EV/LTM Revenue Multiple: New top spot winner! Veeva Systems is number one at 14.1x, followed closely by AppFolio at 14.0x.
- Lowest EV/LTM Revenue Multiple: 2U at 1.0x.
- Average EV/LTM Revenue Multiple: Multiple has increased to 7.2x, up from 7.0x end of Jan ’24.
- Median EV/LTM Revenue Multiple: Down slightly to 5.6x. Was 6.4x end of Jan ’24.
Follow us at @vSaaSToday for more info.
