Homechevron_right2026 SaaS Report
Annual ReportPublished April 2026

2026 State of Public SaaS Benchmarks

Rule of 40, EV/Revenue, Gross Margin, and sector breakdowns across 172 public SaaS companies. All data sourced from SEC EDGAR filings.

Key Findings

trending_upMedian Rule of 40
33.2across 172 public SaaS companies
check_circleScoring above 40
56companies above the efficiency threshold
price_changeMedian EV/Revenue
3.4xenterprise value multiple
percentMedian Gross Margin
74.6%across all tracked companies
categoryHighest R40 Sector
IT Service Managementmedian 59.4 Rule of 40

Sector Breakdown

SectorCompaniesMedian Rule of 40Median EV/Rev
IT Service Management259.48.4x
DevTools & Observability552.26.0x
Cloud Storage252.03.0x
Low-Code / No-Code250.23.3x
CRM & Sales147.13.7x
HR Tech444.04.1x
Data & Analytics939.710.1x
Sales Intelligence137.73.6x
Marketing Tech637.23.3x
Security332.85.2x
Vertical SaaS12230.53.3x
Fintech526.33.8x
Communications624.33.3x
Cloud Infrastructure322.420.5x
Project Management112.22.1x

Top 10 Companies by Rule of 40

#1
Gloo Holdings, Inc.Vertical SaaS
221.4GLOO#2
INTUIT INC.Vertical SaaS
162.0INTU#3
Applied Digital Corp.Vertical SaaS
118.6APLD#4
Veeva Systems Inc.Vertical SaaS
105.9VEEV#5
Block, Inc.Vertical SaaS
99.5SQ#6
Reddit, Inc.Vertical SaaS
98.8RDDT#7
Palantir Technologies Inc.Data & Analytics
96.1PLTR#8
Exzeo Group, Inc.Vertical SaaS
95.7XZO#9
FIRST ADVANTAGE CORPVertical SaaS
88.2FA#10
Hinge Health, Inc.Vertical SaaS
82.0HNGE
View full Rule of 40 rankings →

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