Each quarter we look at the YOY revenue growth of every SaaS company that has IPO’d since October 2017. 60 of them are still public. The data is below and shows growth steadying at 15% YOY.
Historical growth was better. YOYG from Q1 2023 to Q4 2024 (8 quarters) was pretty consistently ~19%, so the step down to ~15% is material. Note that in 2022, YOY growth was in the 30’s.
But there is bifurcation happening. That said, 46% of the companies in the dataset had faster growth in Q2 2025 than they did in Q2 2024, so half the dataset is improving while half is declining.
Overall it’s too soon to call the decline to 15% a trend, but the last time there was a dip of this magnitude was in Q1 2023 when YOYG was 21%, down from 27% in Q4 2022, and sure enough that turned into 2024’s ~19% YOYG trend we site above. We’ll see.
Thank you for the readership. Visit blossomstreetventures.com for more blogs and SaaS data. Email the author at sammy@blossomstreetventures.com or connect on LinkedIn.
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