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Operating MarginTickerQ1 2022Q2 2022Q3 2022Q4 2022Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025
Mongo DBMDB-27%-38%-25%-20%-19%-12%-10%-15%-22%-15%-5%-3%-10%
DropboxDBX16%14%15%-13%14%9%21%42%23%20%20%14%29%
ZuoraZUO-25%-30%-34%-97%-20%-17%-8%-15%-4%-8%-10%------
DocusignDOCU-3%-7%-4%0%-1%1%3%1%3%8%8%8%8%
SmartSheetSMAR-41%-35%-21%-21%-15%-15%-14%-6%-4%-3%-1%------
ZscalerZS-30%----19%-17%-13%-9%-9%-1%-5%-5%-6%-4%
MomentivMNTV-30%-21%-13%-4%-18%------------------------
PagerDutyPD-38%-42%-35%-26%-15%-24%-19%-30%-20%-14%-9%-9%-9%
Zoom VideoZM17%11%6%-12%1%16%15%15%18%17%15%19%21%
FastlyFSLY-62%-67%-61%-41%-40%-40%-45%-32%-35%-35%-30%-24%-26%
CrowdstrikeCRWD-5%-9%-10%-10%-3%-2%0%3%1%1%-6%-8%-11%
DynaTraceDT9%7%7%11%2%10%10%10%6%11%11%11%---
Health CatalystHCAT-36%-47%-67%-53%-47%-46%-34%-44%-31%-21%-18%-22%-25%
Ping IdentityPING-19%-57%---------------------------------
DataDogDDOG3%-1%-7%-7%-7%-4%-1%5%2%2%3%1%-2%
CloudflareNET-19%-28%-18%-18%-16%-18%-12%-12%-14%-9%-7%-7%-11%
Sprout SocialSPT-17%-24%-22%-18%-16%-18%-28%-21%-14%-17%-16%-13%-10%
Bill.comBILL-50%----38%-43%-20%-149%-19%-21%-9%-6%-2%-6%-8%
ZoominfoZI13%15%18%17%22%19%20%22%14%-7%14%10%16%
SnowflakeSNOW-45%-42%-37%-41%-44%-42%-36%-36%-42%-41%-39%-39%-43%
Unity SoftwareU-53%-67%-74%-61%-51%-36%-23%-42%-81%-29%-28%-27%-29%
Sumo LogicSUMO-51%-49%-35%-106%---------------------------
JfrogFROG-30%-3%-33%-58%-29%-23%-20%-16%-17%-19%-27%-22%-19%
PalantirPLTR-9%-9%-13%-4%1%2%7%11%13%16%16%1%20%
AsanaASAN-80%-82%-71%-66%-43%-45%-38%-40%-38%-43%-33%-34%-23%
DattoMSP5%------------------------------------
PubMaticPUBM8%15%15%23%-19%-11%-1%24%-8%-6%-2%17%-19%
C3.aiAI-68%-112%-115%-108%-401%-103%-108%-105%-95%-103%-83%-89%---
CertaraCERT7%5%13%13%8%14%-62%-9%-1%-10%3%6%8%
QualtricsXM-87%-76%-64%-63%-62%------------------------
ON24ONTF-31%-33%-31%-29%-46%-36%-36%-33%-33%-35%-37%-32%-30%
ViantDSP-31%-27%-26%-17%-27%-9%-5%1%-11%-1%5%7%-7%
OloOLO-30%-26%-34%-22%-33%-38%-28%-33%-11%1%-12%-6%-2%
DigitalOceanDOCN-10%-5%6%-9%-20%-1%20%6%6%12%12%16%18%
SEMrushSEMR-4%-13%-16%-22%-15%-3%4%3%2%4%2%2%0%
UiPathPATH-47%-50%-25%-15%-16%-27%-17%4%-15%-33%-12%8%-5%
AlkamiALKT-29%-38%-37%-10%-28%-28%-24%-17%-16%-16%-12%-10%-16%
DoubleVerifyDV3%12%13%22%12%11%13%22%5%7%15%20%4%
SquareSpaceSQSP-17%4%5%-86%1%15%11%7%-5%6%---------
ZipRecruiterZIP6%10%13%14%6%13%21%10%-1%8%-3%-4%-11%
ProcorePCOR-45%-42%-39%-37%-32%-25%-20%-15%-7%-5%-12%-22%-12%
SprinklrCXM-16%-$0.1-3%-1%-2%3%7%9%3%3%0%6%-1%
Zeta GlobalZETA-54%-56%-43%-27%-33%-27%-20%-15%-18%-12%-5%2%-6%
DoximityDOCS---24%31%33%19%27%30%43%36%36%39%47%35%
ConfluentCFLT-88%-84%-78%-68%-95%-63%-54%-40%-51%-46%-37%-41%-37%
SentinelOneS-115%-$1.1-90%-79%-86%-67%-49%-47%-43%-40%-42%-36%-38%
EverCommerceEVCM-9%-4%-5%-2%-3%1%4%0%-3%4%6%-7%10%
CouchbaseBASE-54%-$0.4-43%-45%-55%-49%-39%-46%-44%-41%-37%-29%-33%
KalturaKLTR-35%-37%-100%34%28%-22%-19%-74%-16%19%10%40%-3%
Blend LabsBLND-97%-122%-235%-41%-165%-86%-89%-61%-61%-33%-29%-4%-29%
MeridianLinkMLNK12%12%6%9%2%2%58%143%4%-1%3%0%5%
Powerschool HoldingsPWSC-2%-1%2%4%0%6%6%1%2%-4%---------
Fresh WorksFRSH-41%-55%-45%-45%-35%-30%-25%-25%-19%-25%-21%-12%-5%
Definitive HealthcareDH-22%-21%-16%-16%-20%-20%-12%-15%-26%-579%-359%941%-313%
ForgeRockFORG-33%-47%-22%-24%-40%------------------------
AmplitudeAMPL-42%-42%-37%-36%-39%-40%-24%-26%-34%-32%-21%-36%-30%
GitlabGTLB-49%-65%-50%-37%-46%-39%-27%-21%-32%-22%-22%-3%-16%
EnfusionENFN-36%-11%7%4%11%6%6%5%-2%5%6%3%---
avidxchangeAVDX-29%-28%-27%-27%-20%-22%-10%-6%-4%-2%1%2%-4%
InformaticaINFA2%-6%1%5%-8%-1%8%8%1%2%12%15%8%
BackBlazeBLZE-60%-52%-55%-59%-72%-58%-64%-38%-35%-31%-37%-41%-26%
ExpensifyEXFY-12%-9%-13%-2%-7%-24%-41%-17%-5%1%1%1%-4%
WeaveWEAV-41%-42%-33%-26%-22%-24%-18%-18%-17%-18%-13%-14%-5%
BrazeBRZE-51%-41%-40%-37%-41%-30%-28%-25%-30%-19%-21%-13%-25%
UserTestingUSER-33%-39%---------------------------------
HashicorpHCP-78%-69%-62%-46%-49%-58%-38%-30%-42%-26%-17%------
SamsaraIOT-49%-43%-37%-32%-37%-32%-23%-20%-24%-19%-19%-2%-9%
KlaviyoKVYO---------------4%-172%8%-11%-6%-6%-13%-9%
RubrikRBRK-------------------------387%-82%-82%-32%-33%
WaystarWAY---------------------------3%11%19%25%
OnestreamOS----------------------------10%-198%-22%-29%
ServiceTitanTTAN----------------------------------30%-23%
SailpointSAIL-------------------------------------80%
MEDIAN-30%-32%-26%-21%-20%-21%-18%-15%-11%-8%-6%-4%-9%
Average-31%-31%-30%-25%-30%-22%-18%-11%-21%-21%-19%9%-14%