2024-10-27-PitchBook-PitchBook年三季度企业SaaS公共报表和估值指南（英）_10页_2mb

Enterprise SaaS in Q3 2024 shows significantly lower valuation and revenue growth. The median EV/TTM revenue multiple dropped to 3.7x, the lowest since 2016, down 78.4% from the 2021 peak. There were no SaaS IPOs in Q3, partly due to economic uncertainty and soft revenue growth forecasts. Average revenue growth slowed to the low teens from around 17% in 2023. Gross margins improved to 73%, but growth decelerated, with CRM and analytics expected to lead future margin gains. EBITDA margins rose to 14% YoY, but vary by sector, with marketing and CRM showing strong recovery, while ERP and HR face margin declines. Notable valuation increases were seen at companies like Wix and SAP. Overall, the market outlook is cautious, with potential for higher multiples if revenue growth improves.