5 Interesting Learnings from GitLab at $1.13 Billion in Revenue: 24% Billings Growth, $20M of Flex in Six Weeks, and 400 Basis Points of AI Margin Cost
Four months ago GitLab looked like the clearest AI casualty in public B2B: The stock was in the high teens. In May the company announced it would cut roughly 14% of its workforce, about 350 people, exit 22 countries, shrink its geographic footprint about 37%, and...
5 Interesting Learnings from ServiceTitan at $1.14 Billion in Revenue: 21% Growth … But a Back Half Guided to Mid-Teens, and a 30% One-Day Stock Price Drop
“Vertical SaaS for The Traders” leader ServiceTitan reported its fiscal Q2 2027 on September 8 (quarter ended July 31, 2026), and the quarter itself was relatively strong: Revenue of $292.8M, up 21%, ahead of their own 18% guide and ahead of consensus....
5 Interesting Learnings from Snowflake at $6 Billion in Revenue: 37% Growth and Accelerating, 126% NRR, and a Gross Margin Guided Down to Pay for AI
Snowflake reported its fiscal Q2 2027 on September 2. And it crushed it: Product revenue was $1.49 billion, up 37% year over year, the third consecutive quarter of accelerating growth. The stock closed at $306 before the print and traded around $370 the next morning,...
5 Interesting Learnings from Salesforce at $45 Billion ARR: 14% cRPO Growth, 6% Organic Growth, and $2.53 of EPS From Its Anthropic Stake
Salesforce reported Q2 FY27 on August 26 and the stock went up a stunning 23%. And almost every other B2B stock went up along with it, Is the SaaSpocolypse … over? Well, it may be past the panic selling of earlier in the year at least at least. Salesforce did...
5 Interesting Learnings from Box at $1.29 Billion in Revenue: 17% Billings Growth, 106% NRR, and 20 Basis Points of AI Margin Cost
Box reported Q2 FY27 and saw real if modest acceleration: Revenue of $321.1 million, up 9% and up 11% in constant currency. Non-GAAP operating margin of 29.4%. Non-GAAP EPS of $0.40 against a $0.39 guide. Free cash flow of $59.7 million, up 67%. Box is one of the...
5 Interesting Learnings from Atlassian at $6.6 Billion in ARR: 28% Growth, 44% RPO Growth, and a 35% One-Day Stock Pop
Atlassian closed its fiscal year on June 30 and reported on August 6. Going in, it was one of the most doubted names in enterprise software. The bear case was simple: AI agents write the code, AI agents file the tickets, and the tools that track the work get squeezed...
5 Interesting Learnings from Palo Alto Networks at $11.4 Billion in Revenue: 60% ARR Growth, 120% NRR, and a $25B Acquisition That Doubled the Stock
Palo Alto Networks is now a ~$265B market cap company. The stock is up roughly 100% over the past twelve months and hit an all-time high of $368.80 in July. What makes it interesting isn’t the run. It’s how they got it. They spent about $29B on...
5 Interesting Learnings from Shopify at $14B in Revenue: 34% Growth, 18% Free Cash Flow Margins, and AI Orders Up 3x
Shopify reported Q2 2026 this week and the stock jumped roughly 18% on the news, erasing most of a 25% year-to-date decline in a single session. The headline numbers: $3.58 billion in quarterly revenue, up 34% year-over-year $115.6 billion in GMV, up 32%, the fifth...
5 Interesting Learnings from Palantir at $7.7 Billion ARR: 93% Growth (!), 157% NRR, and a Rule of 40 Score of 155%
Almost everyone's growth rate decays at scale Not Palantir. It just pulled off a quarter (and a year) like we've never seen: – Revenue grew 93% year-over-year to $1.935 billion– The twelfth consecutive quarter of accelerating growth– 47% GAAP...
5 Interesting Learnings from Procore at $1.5 Billion in ARR: 16% Growth, Its First GAAP Operating Profit, and $845M for DroneDeploy
Procore’s one of the great pre-AI vertical software leaders. Construction software, 3 million projects, 150+ countries, roughly $1.5B in ARR. But growth slowed as for many the past 24 months. They’ve finally turned it around a bit. And then spent $845...
5 Interesting Learnings from Stripe at $6.8 Billion in Revenue: 33% Growth, 47% Free Cash Flow Margins, and a $53B Bid for PayPal
Stripe is still private, so we mostly get data when the company chooses to give it to us. This week we got more than usual. The Information reported Stripe’s 2025 revenue hit $6.8 billion, up roughly a third year-over-year, its fastest growth since 2021. Free...
5 Interesting Learnings from Zoom at ~$5 Billion in ARR: Modestly Re-Accelerating Growth, Real AI Monetization, a $27B Market Cap, and a 25x Anthropic Windfall
Almost everyone wrote Zoom off a few years back. The innovative app everyone loved before 2020, but then almost a COVID one-hit-wonder that peaked in 2021 after going from $1B to $4B in ARR in one year. That would slowly bleed out as people went back to the office...
5 Interesting Learnings from Vertical B2B Leader ServiceTitan at $1B+ in ARR. Not Slowing Down, Growing 25%, Fintech Growing Fastest, 110% NRR
ServiceTitan has somewhat quietly become one of the most important vertical software stories of the past decade. It sells an end-to-end operating system to the trades: HVAC, plumbing, electrical, roofing, garage doors. And it just crossed a $1B revenue run rate the...
5 Interesting Learnings from Toast at $6.5 Billion Run-Rate: 22%+ Growth, Profitable, No Deceleration. But AI Is Just Getting Started
AI Vertical SaaS is hot now. Toast is … a dominant vertical SaaS leader becoming AI-first. Toast is running at a ~$6.5 billion revenue run-rate. At its core Toast is a payments business, with a high-margin software business as a subset inside it, a fintech...
Founder SaaStr
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