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- SaaS Q4; Datadog 👇 // HubSpot 👊// Dropbox 😐
SaaS Q4; Datadog 👇 // HubSpot 👊// Dropbox 😐
And also: Uber's Cloud Deal with Google and Oracle, Google Cloud New Pricing, Plaid, and Okta Partnership...
Cloudly Update 2023-02-17
The Cloud ☁️
Google Cloud has launched Flex Agreements and three new pricing editions (Standard, Enterprise, and Enterprise Plus) to remove barriers to entry for customers migrating workloads to the cloud.
These incentives allow customers access without a big upfront financial commitment while still reaping benefits such as cloud credits or discounts based on monthly spending or committed use.
The new product pricing editions are designed with features that offer scalability, flexibility, reliability, and advanced security options for businesses to optimize their cloud spend.
By removing these entry barriers, Google is meeting customer needs during uncertain economic times by providing more choice and flexibility when it comes to consuming/paying for services.
Uber has announced plans to transfer the contents of its data centers to Google Cloud and Oracle as part of two separate, seven-year deals.
This move is in response to disruptions in supply chains caused by COVID-19 and will reduce Uber's reliance on hardware while taking advantage of certain cybersecurity defenses and compliance standards.
The transfers should be complete within a few years, with more than 95% of Uber's IT shifted from managing data centers towards product differentiation areas.
Public SaaS leaders 🚀
Datadog, Inc. announced its financial results for the fourth quarter and fiscal year that ended December 31, 2022, with revenue of $469 million and a 44% increase from the prior year.
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Operating cash flow was $114 million with free cash flow of $96 million; Cash, cash equivalents, restricted cash, and marketable securities totaled $1.9 billion as of December 31st, 2022
Datadog reported earnings per share (excluding non-recurring items) to be 0.26$, beating S&P Capital IQ Consensus by 0.07$.
Q1 EPS guidance is in line, while revenues are below consensus estimates. FY23 EPS guidance is below consensus estimates, while revenues are also lower than expected.
As of December 2021, there were 317 customers with an ARR of over 1Million Dollars, an 47% increase from 216 customers on Dec 2020, and 2 780 customers had an ARR of over 100 000 Dollars representing a 38% Increase compared to 2010 Customers on Dec 2020
HubSpot, Inc. reported financial results for the fourth quarter and full year that ended December 31, 2022. Total revenue was $469.7 million in Q4'22, up 27% compared to Q4'21; total revenue was $1.731 billion for FY2022, up 33% compared to 2021.
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Subscription revenue grew 28% Y/Y in Q4’22 and 34% Y/Y in FY’22, while Professional services & other revenues were 8% (Q4), down 5% (FY'22).
In Q4'22, the GAAP operating margin was (2.9%) compared to (2.2%) in the prior year's quarter, and the non-GAAP operating margin was 13.6% compared to 10.3%.
GAAP operating loss for Q4'22 was ($13.5) million versus ($8.2) million in the same period last year; non-GAAP operating income came in at $64 million versus $38 million a year ago
For FY 2022, GAAP reported an operating margin of (6.3%), while Non-GAAP reported an operating margin was 9.8%, compared to 9.0% in 2021
HubSpot had 167K customers on Dec 31st ' 22, a 24 % increase from Dec 21; the Average subscription rev per customer rose 3%.
The company issued guidance above consensus estimates on EPS and Revenue for 1Q23 as well as Full Year 2023
Dropbox announced its fourth quarter and fiscal 2022 results, with revenue of $598.8 million for the fourth quarter and $2.325 billion for the year, up 7.7% year-over-year on a constant currency basis.
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Net cash provided by operating activities was reported at $194.6 million in Q4 and $797.3 million in FY22; free cash flow totaled to be at 181.7 Million in Q4 and 763 Million in FY22.
CEO Drew Houston stated that despite challenging macroeconomic conditions, they had increased their profitability & free cash flow while leveraging advancements of AI/ML into the product roadmap towards the mission.
The company beat earnings expectations slightly and met revenue estimates, and the issued guidance issued above consensus estimates.
Private SaaS leaders 🦄
Plaid and Okta have partnered to make it easier for financial institutions to share data securely by using OAuth, an open-source standard. This partnership will allow Plaid's partner firms and those without agreements access banking services through APIs. As a result, firms such as Project Finance and Arc Treasury are taking advantage of this new partnership to offer their customers fast and secure integrations.
Quick SaaS news ⚡️
The integration is expected to transform how sales and marketing teams find and connect with ideal customers by providing real-time insights on who to engage with, when to engage with them, and what to say.
Wix has released an AI Text Creator powered by OpenAI's GPT-3 language model, which generates website content such as paragraphs, titles and taglines based on specific questions about the desired content, key points and tone.
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