Annual COGS Spend

Heading

Company ($mm's)	Ticker	2024 Revenue	2023 Revenue	2022 Revenue	2024 COGS	2023 COGS	2022 COGS	2024 COGS as a % of Revenue	2023 COGS as a % of Revenue	2022 COGS as a % of Revenue
Mongo DB	MDB	$2,006	$1,683	$1,284	$535	$424	$349	27%	25%	27%
Dropbox	DBX	$2,548	$2,501	$2,324	$445	$478	$444	17%	19%	19%
Zuora	ZUO	$431	$431	$396	$146	$146	$153	34%	34%	39%
Docusign	DOCU	$2,977	$2,761	$2,515	$622	$572	$536	21%	21%	21%
SmartSheet	SMAR	---	$958	$766	---	$186	$162	---	19%	21%
Zscaler	ZS	$2,167	$1,616	$1,090	$477	$362	$242	22%	22%	22%
Momentiv	MNTV	---	---	---	---	---	---	---	---	---
PagerDuty	PD	$467	$430	$370	$80	$77	$70	17%	18%	19%
Zoom Video	ZM	$4,665	$4,527	$4,392	$1,130	$1,077	$1,100	24%	24%	25%
Fastly	FSLY	$544	$505	$432	$248	$239	$222	46%	47%	51%
Crowdstrike	CRWD	$3,953	$3,055	$2,241	$991	$755	$601	25%	25%	27%
DynaTrace	DT	$1,430	$1,430	$1,158	$266	$266	$222	19%	19%	19%
Health Catalyst	HCAT	$307	$295	$276	$166	$164	$143	54%	56%	52%
Ping Identity	PING	---	---	---	---	---	---	---	---	---
DataDog	DDOG	$2,684	$2,128	$1,675	$516	$409	$346	19%	19%	21%
Cloudflare	NET	$1,670	$1,296	$975	$379	$307	$232	23%	24%	24%
Sprout Social	SPT	$406	$333	$253	$91	$76	$59	23%	23%	23%
Bill.com	BILL	$1,290	$1,058	$641	$234	$193	$145	18%	18%	23%
Zoominfo	ZI	$1,214	$1,240	$1,098	$152	$139	$140	12%	11%	13%
Snowflake	SNOW	$3,626	$2,806	$2,066	$1,214	$899	$718	33%	32%	35%
Unity Software	U	$1,813	$2,187	$1,391	$481	$734	$443	27%	34%	32%
Sumo Logic	SUMO	---	---	$300	---	---	$97	---	---	32%
Jfrog	FROG	$428	$350	$280	$98	$77	$62	23%	22%	22%
Palantir	PLTR	$2,866	$2,225	$1,906	$566	$431	$409	20%	19%	21%
Asana	ASAN	$723	$653	$547	$77	$65	$57	11%	10%	10%
Datto	MSP	---	---	---	---	---	---	---	---	---
PubMatic	PUBM	$291	$267	$256	$101	$99	$82	35%	37%	32%
C3.ai	AI	$310	$267	$253	$132	$86	$64	43%	32%	25%
Certara	CERT	$385	$354	$336	$155	$141	$133	40%	40%	39%
Qualtrics	XM	---	---	$1,458	---	---	$429	---	---	29%
ON24	ONTF	$148	$164	$191	$38	$46	$53	26%	28%	28%
Viant	DSP	$289	$223	$197	$157	$120	$117	54%	54%	59%
Olo	OLO	$285	$228	$185	$129	$89	$58	45%	39%	32%
DigitalOcean	DOCN	$780	$693	$576	$314	$284	$212	40%	41%	37%
SEMrush	SEMR	$377	$308	$254	$65	$52	$49	17%	17%	19%
UiPath	PATH	$1,429	$1,308	$1,059	$246	$196	$180	17%	15%	17%
Alkami	ALKT	$334	$265	$204	$137	$121	$96	41%	46%	47%
DoubleVerify	DV	$656	$573	$452	$116	$107	$78	18%	19%	17%
SquareSpace	SQSP	---	$1,012	$867	---	$208	$153	---	20%	18%
ZipRecruiter	ZIP	$474	$646	$905	$50	$64	$86	11%	10%	10%
Procore	PCOR	$1,152	$950	$720	$206	$174	$148	18%	18%	21%
Sprinklr	CXM	$796	$732	$618	$222	$179	$164	28%	24%	27%
Zeta Global	ZETA	$1,006	$729	$591	$400	$274	$215	40%	38%	36%
Doximity	DOCS	$475	$475	$419	$51	$51	$53	11%	11%	13%
Confluent	CFLT	$963	$777	$586	$257	$230	$202	27%	30%	34%
SentinelOne	S	$821	$621	$422	$211	$179	$144	26%	29%	34%
EverCommerce	EVCM	$698	$675	$621	$228	$231	$217	33%	34%	35%
Couchbase	BASE	$209	$180	$155	$25	$22	$20	12%	12%	13%
Kaltura	KLTR	$179	$175	$169	$60	$63	$62	33%	36%	37%
Blend Labs	BLND	$162	$157	$235	$71	$76	$146	44%	48%	62%
MeridianLink	MLNK	$316	$304	$288	$109	$108	$106	34%	36%	37%
Powerschool Holdings	PWSC	---	$698	$631	---	$284	$272	---	41%	43%
Fresh Works	FRSH	$720	$596	$498	$113	$103	$96	16%	17%	19%
Definitive Healthcare	DH	$252	$251	$223	$41	$35	$26	16%	14%	12%
ForgeRock	FORG	---	---	$217	---	---	$39	---	---	18%
Amplitude	AMPL	$299	$276	$238	$77	$72	$70	26%	26%	29%
Gitlab	GTLB	$759	$580	$424	$85	$60	$373	11%	10%	88%
Enfusion	ENFN	$201	$175	$150	$65	$58	$47	32%	33%	31%
avidxchange	AVDX	$439	$381	$316	$122	$121	$118	28%	32%	37%
Informatica	INFA	$1,640	$1,595	$1,505	$326	$338	$344	20%	21%	23%
BackBlaze	BLZE	$128	$102	$85	$58	$52	$41	46%	51%	48%
Expensify	EXFY	$139	$151	$169	$64	$67	$63	46%	44%	37%
Weave	WEAV	$204	$170	$142	$58	$54	$53	29%	32%	37%
Braze	BRZE	$593	$471	$355	$183	$147	$115	31%	31%	32%
UserTesting	USER	---	---	---	---	---	---	---	---	---
Hashicorp	HCP	---	$583	$476	---	$109	$87	---	19%	18%
Samsara	IOT	$1,249	$937	$653	$298	$247	$183	24%	26%	28%
Klaviyo	KVYO	$937	$698	$473	$221	$178	$128	24%	26%	27%
Rubrik	RBRK	$886	$627	$599	$265	$144	$182	30%	23%	30%
Waystar	WAY	$944	$791	---	$316	$249	---	33%	31%	---
Onestream	OS	$489	$375	---	$179	$115	---	37%	31%	---
ServiceTitan	TTAN	$772	$614	---	$271	$238	---	35%	39%	---


ALL MEDIAN		$698	$614	$473	$166	$146	$143	26%	26%	27%
ALL AVERAGE		$1,007	$871	$732	$248	$215	$192	28%	28%	29%

Profitable
MEDIAN		$698	$698	$631	$157	$208	$140	21%	21%	19%
AVERAGE		$1,191	$1,139	$1,032	$267	$257	$230	25%	25%	24%

Not Profitable
MEDIAN		$657	$505	$428	$172	$121	$144	27%	28%	29%
AVERAGE		$895	$689	$641	$237	$181	$180	29%	29%	31%