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Return on S&M ($mm's)Ticker2025 Revenue2024 Revenue2023 Revenue2022 Revenue2025 S&M Spend2024 S&M Spend2023 S&M Spend2022 S&M Spend2025 Growth2024 Growth2025 Return on S&M2024 Return on S&M2023 Return on S&M
Mongo DBMDB$2,464$2,006$1,683$1,284$944$871$782$69923%19%$0.49$0.37$0.51
DropboxDBX$2,521$2,548$2,501$2,324$370$461$466$409-1%2%---$0.10$0.38
ZuoraZUO---$431$431$396---$166$166$173---0%---$0.00$0.21
DocusignDOCU$3,220$2,977$2,761$2,515$1,204$1,161$1,168$1,2428%8%$0.20$0.19$0.21
SmartSheetSMAR------$958$766------$510$479------------$0.38
ZscalerZS$2,673$2,167$1,616$1,090$1,259$1,100$953$73523%34%$0.40$0.50$0.55
MomentivMNTV---------------------------------------
PagerDutyPD$493$467$430$370$184$202$196$1956%9%$0.14$0.18$0.31
Zoom VideoZM$4,869$4,665$4,527$4,392$1,388$1,427$1,541$1,6964%3%$0.15$0.10$0.09
FastlyFSLY$624$544$505$432$201$199$191$17915%8%$0.40$0.19$0.38
CrowdstrikeCRWD$4,812$3,953$3,055$2,241$1,831$1,523$1,140$90422%29%$0.47$0.59$0.71
DynaTraceDT$2,018$1,430$1,430$1,158$691$534$534$44841%0%$0.85$0.00$0.51
Health CatalystHCAT$311$307$295$276$53$54$67$871%4%$0.08$0.21$0.28
Ping IdentityPING---------------------------------------
DataDogDDOG$3,427$2,684$2,128$1,675$956$757$609$49528%26%$0.78$0.74$0.74
CloudflareNET$2,168$1,670$1,296$975$921$746$599$46530%29%$0.54$0.50$0.54
Sprout SocialSPT$458$406$333$253$191$184$168$12313%22%$0.27$0.40$0.48
Bill.comBILL$1,463$1,290$1,058$641$544$478$515$30713%22%$0.32$0.49$0.81
ZoominfoZI$1,250$1,214$1,240$1,098$415$414$406$3793%-2%$0.09---$0.35
SnowflakeSNOW$4,684$3,626$2,806$2,066$2,062$1,672$1,392$1,10729%29%$0.51$0.49$0.53
Unity SoftwareU$1,850$1,813$2,187$1,391$653$753$835$4982%-17%$0.06---$0.95
Sumo LogicSUMO---------$300---------$153---------------
JfrogFROG$532$428$350$280$224$190$151$13124%22%$0.46$0.41$0.46
PalantirPLTR$4,475$2,866$2,225$1,906$1,057$888$745$70356%29%$1.52$0.72$0.43
AsanaASAN$791$723$653$547$407$419$392$4359%11%$0.17$0.17$0.27
DattoMSP---------------------------------------
PubMaticPUBM$283$291$267$256$103$95$83$69-3%9%---$0.25$0.13
C3.aiAI$389$310$267$253$240$214$183$17425%16%$0.33$0.20$0.08
CertaraCERT$419$385$354$336$54$47$32$279%9%$0.63$0.65$0.58
QualtricsXM---------$1,458---------$892---------------
ON24ONTF$139$148$164$191$68$78$89$110-6%-10%---------
ViantDSP$344$289$223$197$65$53$51$6419%30%$0.85$1.25$0.51
OloOLO---$285$228$185---$53$48$34---25%---$1.07$0.89
DigitalOceanDOCN$901$780$693$576$82$71$73$8116%13%$1.48$1.23$1.60
SEMrushSEMR$444$377$308$254$177$144$127$12718%22%$0.38$0.48$0.42
UiPathPATH$1,611$1,429$1,308$1,059$683$738$713$70213%9%$0.27$0.16$0.35
AlkamiALKT$444$334$265$204$80$60$49$3733%26%$1.38$1.16$1.25
DoubleVerifyDV$748$656$573$452$191$167$125$10714%15%$0.48$0.50$0.96
SquareSpaceSQSP------$1,012$867------$350$322------------$0.42
ZipRecruiterZIP$449$474$646$905$228$216$265$484-5%-27%---------
ProcorePCOR$1,323$1,152$950$720$581$552$495$42515%21%$0.29$0.37$0.46
SprinklrCXM$857$796$732$618$288$321$322$3378%9%$0.21$0.20$0.35
Zeta GlobalZETA$1,305$1,006$729$591$340$315$288$29930%38%$0.88$0.88$0.48
DoximityDOCS$645$475$475$419$164$133$133$12436%0%$1.04$0.00$0.42
ConfluentCFLT$1,167$963$777$586$593$547$505$45621%24%$0.34$0.34$0.38
SentinelOneS$1,001$821$621$422$525$487$397$31122%32%$0.34$0.41$0.50
EverCommerceEVCM$589$698$675$621$120$122$124$119-16%3%---$0.19$0.44
CouchbaseBASE---$209$180$155---$142$131$111---16%---$0.21$0.19
KalturaKLTR$181$179$175$169$45$48$49$591%2%$0.05$0.08$0.12
Blend LabsBLND$124$162$157$235$29$36$60$85-23%3%---$0.14---
MeridianLinkMLNK---$316$304$288---$43$36$24---4%---$0.28$0.44
Powerschool HoldingsPWSC------$698$631---------------------------
Fresh WorksFRSH$839$720$596$498$395$391$358$34316%21%$0.30$0.32$0.27
Definitive HealthcareDH$242$252$251$223$82$84$95$90-4%0%---$0.01$0.29
ForgeRockFORG---------$217---------$118---------------
AmplitudeAMPL$343$299$276$238$188$168$154$13015%8%$0.23$0.14$0.25
GitlabGTLB$955$759$580$424$435$384$356$31026%31%$0.45$0.47$0.44
EnfusionENFN---$201$175$150---$25$20$29---15%---$1.04$1.25
avidxchangeAVDX---$439$381$316---$83$78$78---15%---$0.70$0.83
InformaticaINFA---$1,640$1,595$1,505---$552$528$536---3%---$0.08$0.17
BackBlazeBLZE$146$128$102$85$37$44$41$3514%25%$0.50$0.58$0.41
ExpensifyEXFY$142$139$151$169$27$13$44$502%-8%$0.10------
WeaveWEAV$239$204$170$142$103$85$71$6517%20%$0.34$0.41$0.39
BrazeBRZE$738$593$471$355$327$282$247$20124%26%$0.44$0.43$0.47
UserTestingUSER---------------------------------------
HashicorpHCP------$583$476------$369$356------------$0.29
SamsaraIOT$1,619$1,249$937$653$684$601$487$37030%33%$0.54$0.52$0.58
KlaviyoKVYO$1,234$937$698$473$506$404$394$21432%34%$0.59$0.59$0.57
RubrikRBRK$1,316$886$627$599$769$867$482$41749%41%$0.56$0.30$0.06
WaystarWAY$1,099$944$791---$178$157$124---16%19%$0.87$0.97---
OnestreamOS$602$489$375---$264$328$176---23%30%$0.43$0.35---
ServiceTitanTTAN$961$772$614---$291$253$220---24%26%$0.65$0.62---
SailpointSAIL$1,071$621$496---$575$350$338---72%25%$0.78$0.36---
FigmaFIG$1,056$749$504---$576$472$201---41%49%$0.53$0.52---
NetskopeNTSK$709$538$406394$280$26332%33%$0.43$0.47$1.54
MEDIAN$857$698$614$473$327$253$234$20816%16%$0.44$0.40$0.43
AVERAGE$1,259$1,007$871$732$457$388$349$32818%16%$0.49$0.43$0.50
Profitable
MEDIAN$1,000$698$698$631$314$157$199$22313%9%$0.48$0.28$0.42
AVERAGE$1,495$1,191$1,139$1,032$425$346$359$34514%9%$0.60$0.46$0.51
Not Profitable
MEDIAN$738$657$505$428$327$321$220$20822%22%$0.43$0.40$0.46
AVERAGE$1,132$895$689$641$474$412$327$32319%20%$0.43$0.41$0.49
Companies57616265