Zeta Global Holdings Corp. (ZETA)
Vertical SaaSSaaS Metrics & Investor Data — Q2 2026
analyticsEditorial Financial Analysis
Financial Performance & Trajectory
Zeta Global has demonstrated a robust and accelerating growth trajectory, with trailing revenue expanding from $1.18B in Q3 2025 to $1.31B by Q1 2026. The year-over-year growth rate has notably strengthened, rising from 17.2% in Q3 2025 to 29.9% in Q1 2026, signaling a re-acceleration in top-line momentum. However, gross margin has compressed from a high of 67.1% in Q3 2025 to 60.5% in Q1 2026, suggesting a shift toward lower-margin revenue streams or higher platform costs. Despite this margin pressure, free cash flow (FCF) generation remains solid, with a trailing FCF margin of 8.6% in Q1 2026, though down from 15.7% in Q3 2025. This indicates that while the company is scaling revenue effectively, near-term profitability and cash conversion are experiencing headwinds.
Operational & Go-to-Market (GTM) Efficiency
The Rule of 40 score, which combines revenue growth and FCF margin, has improved to 38.5 in Q1 2026 from 32.9 in Q3 2025, reflecting the benefit of the growth acceleration. This score remains below the ideal 40% threshold, indicating that the company is not yet achieving optimal balance between growth and profitability. The absence of disclosed Net Revenue Retention (NRR) and CAC Payback metrics limits a full assessment of customer unit economics and GTM efficiency. The declining gross margin and FCF margin trends suggest that reinvestment into R&D and sales may not be yielding proportional returns in efficiency, warranting close monitoring of future spend discipline.
Market Valuation & Sentiment
Zeta’s enterprise value-to-revenue (EV/Revenue) multiple has expanded from 3.2x in Q4 2025 to 4.3x in Q1 2026, reflecting market optimism for the re-accelerating growth story. Insider activity shows a net negative signal, with $100K in net sales and zero purchases over the last six filings, indicating a lack of conviction from internal stakeholders at current levels. Wall Street sentiment is bullish, with a consensus "Buy" rating (11 Buys, 4 Holds) and an average price target of $26.00. The current valuation multiple, combined with the growth acceleration, supports the positive analyst outlook, but the insider selling and margin compression introduce cautious undertones for risk-aware investors.
Disclaimer: The editorial financial analysis above is generated using data sourced from SEC EDGAR filings and Wall Street consensus ratings. This analysis is provided for informational and educational purposes only and does not constitute financial, investment, or professional advice. Readers should conduct their own research or consult with a registered financial advisor before making any investment decisions.
Zeta Global Holdings Corp. (ZETA) is a Vertical SaaS SaaS company with a market cap of $7.5B as of Q2 2026. The company trades at 5.0x EV/Revenue and has delivered +47.6% revenue growth year-over-year. With a gross margin of 60% and FCF margin of 7.6%, Zeta Global Holdings Corp. scores 55 on the Rule of 40 — placing it in the top quartile of public SaaS companies tracked by SaaSDB.
compare_arrowsSector Benchmarking
Latest company metrics compared to the Vertical SaaS sector medians
EV/Revenue is 5.0x (sector median: 5.0x) — trading in-line with peers.
Rule of 40 is 55.2% (sector median: 33.1%) — outperforming peers by 22.1%.
Revenue Growth is 47.6% (sector median: 17.6%) — outperforming peers by 30.0%.
Gross Margin is 60.0% (sector median: 73.7%) — underperforming peers by 13.7%.
FCF Margin is 7.6% (sector median: 11.8%) — underperforming peers by 4.2%.
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rocket_launchFounder & Operator Metrics
Not publicly disclosed by this company: Net Revenue Retention·Gross Retention·ARR·ARR Growth·CAC Payback
trending_upEfficiency & Investment Trends
biotechR&D Intensity Trend
R&D expense as % of revenue over time
insightsOperating Leverage Trend
Operating leverage ratio (margin expansion vs growth)
Negative leverage. Growth is being achieved at the expense of deteriorating margins (increasing operating loss).
Insider Trading Activity
90-Day Insider Sentiment: Bearish / Net Selling. Insiders executed 1 sell transactions (totaling $632K) with zero buys. Last activity on Aug 12, 2026.
Analyst Ratings
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