SaaS Public Company Valuations Q1 2016

Eleven months ago I wrote about the SaaS Public Company Valuations Q1 2015 and times have changed. Before, SaaS companies were trading at higher multiples and now, most, but not all have come down. Let’s look at the public SaaS company valuations and compare them to last year.

• salesforce.com (NYSE:CRM) – customer relationship management SaaS company.
  • March 9, 2015
    Market cap: $40.74 billion
    Last reported quarter’s revenues: $1,444 million
    Employees: 13,300
  • February 4, 2016
    Market cap: $43.39 billion
    Last reported quarter’s revenues: $1,711 million
    Employees: 16,000
• NetSuite (NYSE:N) – enterprise resource planning (accounting, inventory, etc) SaaS company.
  • March 9, 2015
    Market cap: $7.26 billion
    Last reported quarter’s revenues: $157.87 million
    Employees:  3,154
  • February 4, 2016
    Market cap: $5.33 billion
    Last reported quarter’s revenues: $206.23 million
    Employees: 4,506
• LogMeIn (NASDAQ:LOGM) – remote desktop access SaaS company.
  • March 9, 2015
    Market cap: $1.28 billion
    Last reported quarter’s revenues: $59.90 million
    Employees: 804
  • February 4, 2016
    Market cap: $1.27 billion
    Last reported quarter’s revenues: $69.57 million
    Employees: 964
• LivePerson (NASDAQ:LPSN) – live chat SaaS company.
  • March 9, 2015
    Market cap: $614.14 million
    Last reported quarter’s revenues: $58.23 million
    Employees: 796
  • February 4, 2016
    Market cap: $315.77 million
    Last reported quarter’s revenues: $60.76 million
    Employees: 1,058
• Demandware (NYSE:DWRE) – ecommerce SaaS company.
  • March 9, 2015
    Market cap: $2.45 billion
    Last reported quarter’s revenues: $52.50 million
    Employees:  383
  • February 4, 2016
    Market cap: $1.63 billion
    Last reported quarter’s revenues: $57.58 million
    Employees: 590
• Marketo (NASDAQ:MKTO) – marketing automation SaaS company.
  • March 9, 2015
    Market cap: $1.09 billion
    Last reported quarter’s revenues: $42.34 million
    Employees: 519
  • February 4, 2016
    Market cap: $765.56 million
    Last reported quarter’s revenues: $54.92 million
    Employees: 715
• ServiceNow (NYSE:NOW) – IT asset management SaaS company.
  • March 9, 2015
    Market cap: $11.15 billion
    Last reported quarter’s revenues: $198.00 million
    Employees: 2,826
  • February 4, 2016
    Market cap: $9.43 billion
    Last reported quarter’s revenues: $285.65 million
    Employees: 3,402
• Workday (NYSE:WDAY) – HR and financial management SaaS company.
  • March 9, 2015
    Market cap: $15.45 billion
    Last reported quarter’s revenues: $226.27 million
    Employees: 3,500
  • February 4, 2016
    Market cap: $12.11 billion
    Last reported quarter’s revenues: $305.27 million
    Employees: 4,900
• Cvent (NYSE:CVT) – Events management SaaS company.
  • March 9, 2015
    Market cap: $1.20 billion
    Last reported quarter’s revenues: $39.33 million
    Employees: 1,450
  • February 4, 2016
    Market cap: $1.04 billion
    Last reported quarter’s revenues: $48.38 million
    Employees: 1,740
• HubSpot (NYSE:HUBS) – B2B marketing platform SaaS company.
  • March 9, 2015
    Market cap: $1.22 billion
    Last reported quarter’s revenues: $34.16 million
    Employees: 719
  • February 4, 2016
    Market cap: $1.35 billion
    Last reported quarter’s revenues: $47.71 million
    Employees: 1,091
• Zendesk (NYSE:ZEN) – Help desk management SaaS company.
  • March 9, 2015
    Market cap: $1.76 billion
    Last reported quarter’s revenues: $38.54 million
    Employees: 806
  • February 4, 2016
    Market cap: $1.90 billion
    Last reported quarter’s revenues: $55.66 million
    Employees: 806

Fast-growing SaaS companies still trade at solid multiples but for ones where the growth has slowed, the multiples have lowered even more.

What else? What are some more thoughts on public SaaS company valuations?