So this was another Pretty Good Week in SaaS:
#1. Shopify Blows Out the Quarter, Accelerating at $8B+ ARR
A bit of strong news from the leader in e-commerce platforms. Shopify is re-accelerating at $8B ARR. It’s growing 21% now and predicting even faster growth in the coming quarters. Don’t Call It a Downturn at Shopify.
More here:
#2. Datadog Blows Out the Quarter Too at $2.6B+ in ARR
Datadog also saw growth re-accelerate, at 27% at $2.6B ARR. NRR stayed strong at 115% and it raised guidance going forward.
#3. Abnormal Security Grows 100%+ at $200m, Raised at $5B
Another Cloud security leader growing at a breathtaking pace. Not Wiz fast. But very, very fast.
#4. Palantir Also Sees Growth Accelerating, Grows 27% at $2.8B ARR
A big beneficiary of AI and government spend.
#5. Atlassian Predicts Hitting $10B ARR in ~5 Years
Atlassian had a bit of a mixed quarter, but overall it’s still predicting revenue to grow 20% a year for the years to come, all the way from $4.4B ARR today to $10B+ ARR. It’s not predicting any slowdown.
So Another Good Week in SaaS. Shopify, Toast, Atlassian, Palantir and more don’t see any real slowdown. Security remains hot.
It wasn’t all roses & daisies. But lots of spaces and leaders are still having a Pretty Good 2024.
