Vertical SaaS, Today — 14th Edition

Anna Khan
1 min readMay 20, 2024

--

We’re back with our 14th edition of Vertical SaaS, Today — our monthly round up of how vSaaS is performing in the public markets.

Vertical SaaS, Today — 14th Edition

Key Metrics (As of 4/30/24)

  • Total Number of Companies: 19 — No movement
  • Total Market Cap: $292.37B, a $32.9B decline from April ’24.
  • Largest Market Cap: Shopify is still at the top spot, but now at $90.4B (down $8.9B from the end of April ‘24).
  • Lowest Market Cap: More decline in 2U’s market cap. Currently the market cap is $20.7M, down $11.9M from the end of April ‘24).
  • Average Market Cap: $15.1B, down $2B from the end of April ‘24).
  • Average LTM Total Revenue: $2.0B, little to no movement.
  • Highest LTM Total Revenue: $8.8B. Constellation Software still claims the top spot.
  • Average LTM Gross Margin: Gross margin fairly consistent, at 58.1%.
  • Highest EV/LTM Revenue Multiple: Shopify at 12.3x.
  • Lowest EV/LTM Revenue Multiple: 2U at 1.0x.
  • Average EV/LTM Revenue Multiple: Multiple has decreased to 6.2x, down from 7.2x in April ’24.
  • Median EV/LTM Revenue Multiple: Multiple has decreased to 5.3x, down from 5.6x in April ’24.

Follow us at @vSaaSToday for more info.

--

--

Anna Khan

GP @CRV, Alum @HarvardHBS @Stanford. I like a bagel with attitude.