Annual G&A Spend

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G&A Spend ($mm's)	Ticker	2025 Revenue	2024 Revenue	2023 Revenue	2022 Revenue	2025 G&A	2024 G&A	2023 G&A	2022 G&A	2025 G&A as a % of Revenue	2024 G&A as a % of Revenue	2023 G&A as a % of Revenue	2022 G&A as a % of Revenue
Mongo DB	MDB	$2,464	$2,006	$1,683	$1,284	$244	$219	$193	$421	10%	11%	11%	12%
Dropbox	DBX	$2,521	$2,548	$2,501	$2,324	$231	$241	$237	$891	9%	9%	9%	10%
Zuora	ZUO	---	$431	$431	$396	---	$74	$74	$102	---	17%	17%	20%
Docusign	DOCU	$3,220	$2,977	$2,761	$2,515	$389	$376	$419	$480	12%	13%	15%	13%
SmartSheet	SMAR	---	---	$958	$766	---	---	$147	$215	---	---	15%	17%
Zscaler	ZS	$2,673	$2,167	$1,616	$1,090	$252	$212	$177	$289	9%	10%	11%	14%
Momentiv	MNTV	---	---	---	---	---	---	---	---	---	---	---	---
PagerDuty	PD	$493	$467	$430	$370	$102	$104	$112	$134	21%	22%	26%	27%
Zoom Video	ZM	$4,869	$4,665	$4,527	$4,392	$393	$443	$579	$774	8%	9%	13%	13%
Fastly	FSLY	$624	$544	$505	$432	$111	$113	$116	$155	18%	21%	23%	28%
Crowdstrike	CRWD	$4,812	$3,953	$3,055	$2,241	$670	$482	$392	$608	14%	12%	13%	14%
DynaTrace	DT	$2,018	$1,430	$1,430	$1,158	$217	$174	$174	$218	11%	12%	12%	13%
Health Catalyst	HCAT	$311	$307	$295	$276	$50	$57	$76	$75	16%	19%	26%	22%
Ping Identity	PING	---	---	---	---	---	---	---	---	---	---	---	---
DataDog	DDOG	$3,427	$2,684	$2,128	$1,675	$280	$205	$180	$752	8%	8%	8%	8%
Cloudflare	NET	$2,168	$1,670	$1,296	$975	$389	$279	$217	$298	18%	17%	17%	18%
Sprout Social	SPT	$458	$406	$333	$253	$107	$88	$79	$61	23%	22%	24%	24%
Bill.com	BILL	$1,463	$1,290	$1,058	$641	$282	$277	$281	$219	19%	21%	27%	38%
Zoominfo	ZI	$1,250	$1,214	$1,240	$1,098	$207	$295	$174	$205	17%	24%	14%	11%
Snowflake	SNOW	$4,684	$3,626	$2,806	$2,066	$550	$412	$323	$788	12%	11%	12%	14%
Unity Software	U	$1,850	$1,813	$2,187	$1,391	$269	$410	$398	$959	15%	23%	18%	27%
Sumo Logic	SUMO	---	---	---	$300	---	---	---	$104	---	---	---	24%
Jfrog	FROG	$532	$428	$350	$280	$81	$70	$63	$121	15%	16%	18%	20%
Palantir	PLTR	$4,475	$2,866	$2,225	$1,906	$658	$593	$524	$360	15%	21%	24%	31%
Asana	ASAN	$791	$723	$653	$547	$193	$152	$141	$297	24%	21%	22%	30%
Datto	MSP	---	---	---	---	---	---	---	---	---	---	---	---
PubMatic	PUBM	$283	$291	$267	$256	$60	$57	$56	$21	21%	20%	21%	18%
C3.ai	AI	$389	$310	$267	$253	$94	$81	$77	$151	24%	26%	29%	24%
Certara	CERT	$419	$385	$354	$336	$85	$94	$95	$28	20%	24%	27%	21%
Qualtrics	XM	---	---	---	$1,458	---	---	---	$427	---	---	---	52%
ON24	ONTF	$139	$148	$164	$191	$39	$46	$49	$44	28%	31%	30%	23%
Viant	DSP	$344	$289	$223	$197	$50	$51	$45	$21	15%	18%	20%	23%
Olo	OLO	---	$285	$228	$185	---	$52	$85	$74	---	18%	37%	38%
DigitalOcean	DOCN	$901	$780	$693	$576	$139	$160	$163	$144	15%	21%	23%	29%
SEMrush	SEMR	$444	$377	$308	$254	$106	$79	$77	$41	24%	21%	25%	25%
UiPath	PATH	$1,611	$1,429	$1,308	$1,059	$214	$226	$232	$286	13%	16%	18%	23%
Alkami	ALKT	$444	$334	$265	$204	$101	$84	$73	$69	23%	25%	28%	35%
DoubleVerify	DV	$748	$656	$573	$452	$110	$92	$88	$95	15%	14%	15%	17%
SquareSpace	SQSP	---	---	$1,012	$867	---	---	$129	$227	---	---	13%	17%
ZipRecruiter	ZIP	$449	$474	$646	$905	$68	$72	$95	$128	15%	15%	15%	12%
Procore	PCOR	$1,323	$1,152	$950	$720	$233	$218	$196	$271	18%	19%	21%	23%
Sprinklr	CXM	$857	$796	$732	$618	$137	$136	$106	$77	16%	17%	14%	15%
Zeta Global	ZETA	$1,305	$1,006	$729	$591	$233	$205	$205	$69	18%	20%	28%	36%
Doximity	DOCS	$645	$475	$475	$419	$65	$38	$38	$80	10%	8%	8%	9%
Confluent	CFLT	$1,167	$963	$777	$586	$173	$156	$138	$264	15%	16%	18%	22%
SentinelOne	S	$1,001	$821	$621	$422	$202	$185	$198	$207	20%	23%	32%	39%
EverCommerce	EVCM	$589	$698	$675	$621	$132	$139	$132	$72	22%	20%	20%	21%
Couchbase	BASE	---	$209	$180	$155	---	$51	$43	$58	---	24%	24%	21%
Kaltura	KLTR	$181	$179	$175	$169	$41	$46	$49	$57	23%	26%	28%	27%
Blend Labs	BLND	$124	$162	$157	$235	$50	$50	$71	$138	40%	31%	45%	59%
MeridianLink	MLNK	---	$316	$304	$288	---	$116	$93	$43	---	37%	31%	29%
Powerschool Holdings	PWSC	---	---	$698	$631	---	---	---	$107	---	---	---	---
Fresh Works	FRSH	$839	$720	$596	$498	$141	$181	$168	$136	17%	25%	28%	32%
Definitive Healthcare	DH	$242	$252	$251	$223	$52	$49	$59	$35	21%	19%	24%	23%
ForgeRock	FORG	---	---	---	$217	---	---	---	$61	---	---	---	26%
Amplitude	AMPL	$343	$299	$276	$238	$64	$64	$55	$81	19%	21%	20%	23%
Gitlab	GTLB	$955	$759	$580	$424	$196	$193	$150	$156	21%	25%	26%	28%
Enfusion	ENFN	---	$201	$175	$150	---	$79	$65	$17	---	39%	37%	46%
avidxchange	AVDX	---	$439	$381	$316	---	$100	$102	$84	---	23%	27%	29%
Informatica	INFA	---	$1,640	$1,595	$1,505	---	$185	$163	$319	---	11%	10%	9%
BackBlaze	BLZE	$146	$128	$102	$85	$29	$29	$27	$33	20%	23%	26%	27%
Expensify	EXFY	$142	$139	$151	$169	$42	$38	$49	$14	30%	28%	32%	34%
Weave	WEAV	$239	$204	$170	$142	$56	$52	$46	$31	23%	26%	27%	30%
Braze	BRZE	$738	$593	$471	$355	$146	$116	$101	$97	20%	20%	21%	25%
UserTesting	USER	---	---	---	---	---	---	---	---	---	---	---	---
Hashicorp	HCP	---	---	$583	$476	---	---	$137	$195	---	---	23%	28%
Samsara	IOT	$1,619	$1,249	$937	$653	$266	$234	$195	$187	16%	19%	21%	26%
Klaviyo	KVYO	$1,234	$937	$698	$473	$192	$158	$194	$104	16%	17%	28%	17%
Rubrik	RBRK	$1,316	$886	$627	$599	$257	$356	$100	$175	20%	40%	16%	14%
Waystar	WAY	$1,099	$944	$791	---	$129	$112	$62	---	12%	12%	8%	---
Onestream	OS	$602	$489	$375	---	$113	$144	$60	---	19%	29%	16%	---
ServiceTitan	TTAN	$961	$772	$614	---	$250	$214	$136	---	26%	28%	22%	---
Sailpoint	SAIL	$1,071	$621	$496	---	$201	$80	$87	---	19%	13%	18%	---
Figma	FIG	$1,056	$749	$504	---	$556	$315	$167	---	53%	42%	33%	---
Netskope	NTSK	$709	$538	$406	---	$233	$68	$68	---	33%	13%	17%	---



MEDIAN		$857	$677	$590	$473	$146	$126	$112	$134	18%	20%	21%	23%
AVERAGE		$1,259	$989	$853	$732	$192	$164	$146	$207	19%	20%	21%	24%

Profitable
MEDIAN		$1,000	$698	$698	$631	$140	$116	$118	$107	15%	18%	15%	15%
AVERAGE		$1,495	$1,191	$1,139	$1,032	$198	$169	$173	$216	15%	18%	18%	16%

Not Profitable
MEDIAN		$738	$621	$500	$428	$173	$144	$107	$137	20%	21%	23%	25%
AVERAGE		$1,132	$876	$675	$641	$188	$161	$130	$204	21%	22%	23%	26%



Companies		57	63	67	65