Quarterly Payback Period

Heading

Payback Period	Q1 2022	Q2 2022	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Mongo DB	0.7 yrs	1.1 yrs	0.8 yrs	0.6 yrs	0.8 yrs	0.4 yrs	0.5 yrs	0.6 yrs	0.8 yrs	1.3 yrs	0.7 yrs	0.6 yrs	0.4 yrs
Dropbox	profitable	profitable	profitable	1.9 yrs	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	no growth
Zuora	1.8 yrs	2.4 yrs	2.8 yrs	7.7 yrs	2.0 yrs	1.8 yrs	1.0 yrs	2.3 yrs	1.8 yrs	1.3 yrs	1.5 yrs	---	---
Docusign	0.2 yrs	0.4 yrs	0.3 yrs	0.0 yrs	0.1 yrs	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable
SmartSheet	1.4 yrs	1.2 yrs	0.8 yrs	0.7 yrs	0.6 yrs	0.7 yrs	0.8 yrs	0.7 yrs	0.6 yrs	0.4 yrs	0.2 yrs	---	---
Zscaler	0.8 yrs	---	0.6 yrs	0.5 yrs	0.4 yrs	0.3 yrs	0.3 yrs	0.3 yrs	0.3 yrs	0.2 yrs	0.2 yrs	0.2 yrs	0.2 yrs
Momentiv	2.5 yrs	2.4 yrs	2.3 yrs	0.5 yrs	10.6 yrs	---	---	---	---	---	---	---	---
PagerDuty	1.5 yrs	1.6 yrs	1.4 yrs	1.1 yrs	0.9 yrs	1.5 yrs	1.4 yrs	2.3 yrs	3.2 yrs	2.6 yrs	2.1 yrs	1.4 yrs	1.4 yrs
Zoom Video	profitable	profitable	profitable	1.7 yrs	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable
Fastly	3.5 yrs	3.9 yrs	3.0 yrs	2.2 yrs	3.1 yrs	2.5 yrs	3.1 yrs	2.6 yrs	3.1 yrs	4.7 yrs	4.9 yrs	17.5 yrs	3.6 yrs
Crowdstrike	0.1 yrs	0.2 yrs	0.3 yrs	0.3 yrs	0.1 yrs	0.1 yrs	profitable	0.0 yrs	profitable	profitable	0.0 yrs	0.1 yrs	0.3 yrs
DynaTrace	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	---
Health Catalyst	2.0 yrs	3.0 yrs	6.5 yrs	4.2 yrs	5.8 yrs	11.3 yrs	4.2 yrs	6.1 yrs	31.1 yrs	8.9 yrs	9.3 yrs	3.4 yrs	3.6 yrs
Ping Identity	1.0 yrs	---	---	---	---	---	---	---	---	---	---	---	---
DataDog	profitable	0.0 yrs	0.2 yrs	0.2 yrs	0.3 yrs	0.2 yrs	0.0 yrs	0.1 yrs	profitable	profitable	profitable	profitable	profitable
Cloudflare	0.5 yrs	0.8 yrs	0.6 yrs	0.6 yrs	0.6 yrs	0.8 yrs	0.5 yrs	0.5 yrs	0.5 yrs	0.5 yrs	0.4 yrs	0.4 yrs	0.4 yrs
Sprout Social	0.6 yrs	0.9 yrs	0.9 yrs	0.7 yrs	0.7 yrs	0.8 yrs	1.1 yrs	0.7 yrs	0.8 yrs	0.9 yrs	1.0 yrs	1.1 yrs	1.2 yrs
Bill.com	0.8 yrs	---	0.8 yrs	1.1 yrs	0.5 yrs	3.8 yrs	0.8 yrs	2.7 yrs	2.9 yrs	0.9 yrs	0.6 yrs	0.4 yrs	0.6 yrs
Zoominfo	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	no growth	no growth	no growth	no growth
Snowflake	1.0 yrs	0.9 yrs	0.9 yrs	1.0 yrs	1.4 yrs	1.6 yrs	1.5 yrs	1.5 yrs	1.4 yrs	1.6 yrs	1.6 yrs	1.7 yrs	1.8 yrs
Unity Software	2.0 yrs	8.2 yrs	6.6 yrs	3.0 yrs	1.4 yrs	0.8 yrs	0.6 yrs	1.3 yrs	no growth	no growth	no growth	no growth	no growth
Sumo Logic	2.5 yrs	2.4 yrs	1.6 yrs	6.4 yrs	---	---	---	---	---	---	---	---	---
Jfrog	1.0 yrs	0.1 yrs	1.2 yrs	2.2 yrs	1.4 yrs	1.1 yrs	1.1 yrs	0.9 yrs	0.8 yrs	0.9 yrs	1.0 yrs	1.2 yrs	1.1 yrs
Palantir	0.4 yrs	0.4 yrs	0.7 yrs	0.2 yrs	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable
Asana	2.2 yrs	2.4 yrs	2.5 yrs	2.1 yrs	2.0 yrs	2.6 yrs	2.4 yrs	3.2 yrs	3.4 yrs	4.0 yrs	4.0 yrs	3.9 yrs	4.1 yrs
Datto	profitable	---	---	---	---	---	---	---	---	---	---	---	---
PubMatic	profitable	profitable	profitable	profitable	11.8 yrs	---	no growth	profitable	profitable	profitable	profitable	profitable	no growth
C3.ai	2.3 yrs	5.5 yrs	17.9 yrs	---	76.1 yrs	10.6 yrs	8.8 yrs	11.1 yrs	5.6 yrs	159.2 yrs	5.5 yrs	3.9 yrs	---
Certara	profitable	profitable	profitable	profitable	profitable	profitable	53.0 yrs	10.2 yrs	1.9 yrs	5.4 yrs	0.5 yrs	0.0 yrs	profitable
Qualtrics	3.0 yrs	2.5 yrs	2.3 yrs	2.4 yrs	3.4 yrs	---	---	---	---	---	---	---	---
ON24	---	---	---	---	---	---	no growth	no growth	no growth	no growth	no growth	no growth	no growth
Viant	5.4 yrs	17.1 yrs	---	---	---	0.8 yrs	0.3 yrs	0.5 yrs	0.3 yrs	0.2 yrs	0.0 yrs	profitable	profitable
Olo	2.0 yrs	1.2 yrs	1.6 yrs	1.1 yrs	1.8 yrs	2.1 yrs	1.5 yrs	1.4 yrs	1.1 yrs	0.7 yrs	0.6 yrs	0.4 yrs	0.2 yrs
DigitalOcean	0.4 yrs	0.2 yrs	profitable	0.4 yrs	0.9 yrs	0.0 yrs	profitable	profitable	profitable	profitable	profitable	profitable	profitable
SEMrush	0.1 yrs	0.5 yrs	0.6 yrs	0.9 yrs	0.8 yrs	0.2 yrs	profitable	0.1 yrs	profitable	profitable	profitable	profitable	profitable
UiPath	2.0 yrs	2.5 yrs	1.6 yrs	0.9 yrs	1.1 yrs	1.7 yrs	0.9 yrs	0.4 yrs	0.9 yrs	1.7 yrs	1.6 yrs	2.3 yrs	1.5 yrs
Alkami	1.1 yrs	1.4 yrs	1.4 yrs	0.4 yrs	1.1 yrs	1.2 yrs	1.1 yrs	1.0 yrs	0.9 yrs	0.8 yrs	0.7 yrs	0.6 yrs	0.5 yrs
DoubleVerify	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable
SquareSpace	1.2 yrs	profitable	profitable	9.1 yrs	profitable	profitable	profitable	profitable	profitable	profitable	---	---	---
ZipRecruiter	profitable	profitable	profitable	profitable	---	---	no growth	no growth	no growth	no growth	0.1 yrs	no growth	no growth
Procore	1.6 yrs	1.5 yrs	1.3 yrs	1.3 yrs	1.3 yrs	1.0 yrs	0.8 yrs	0.9 yrs	0.7 yrs	0.5 yrs	0.6 yrs	0.8 yrs	0.9 yrs
Sprinklr	0.7 yrs	0.7 yrs	0.2 yrs	0.1 yrs	0.1 yrs	profitable	profitable	profitable	profitable	15.4 yrs	profitable	profitable	profitable
Zeta Global	2.7 yrs	2.5 yrs	1.8 yrs	1.2 yrs	1.7 yrs	1.4 yrs	1.0 yrs	1.1 yrs	1.0 yrs	0.6 yrs	0.3 yrs	0.2 yrs	0.2 yrs
Doximity	---	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable
Confluent	2.3 yrs	2.3 yrs	2.4 yrs	2.0 yrs	3.5 yrs	2.4 yrs	2.2 yrs	2.7 yrs	2.5 yrs	2.2 yrs	2.0 yrs	2.2 yrs	1.9 yrs
SentinelOne	2.2 yrs	1.9 yrs	1.8 yrs	1.5 yrs	2.1 yrs	2.1 yrs	1.7 yrs	1.9 yrs	1.6 yrs	1.6 yrs	1.8 yrs	1.6 yrs	2.0 yrs
EverCommerce	0.3 yrs	0.2 yrs	0.2 yrs	0.1 yrs	0.3 yrs	profitable	profitable	profitable	profitable	profitable	profitable	profitable	0.2 yrs
Couchbase	2.7 yrs	1.4 yrs	2.0 yrs	2.2 yrs	3.7 yrs	5.3 yrs	2.6 yrs	2.5 yrs	2.0 yrs	2.5 yrs	3.7 yrs	4.2 yrs	3.6 yrs
Kaltura	3.2 yrs	51.7 yrs	---	profitable	profitable	4.8 yrs	2.8 yrs	48.3 yrs	9.1 yrs	no growth	9.7 yrs	profitable	profitable
Blend Labs	1.8 yrs	2.4 yrs	---	95.9 yrs	---	---	no growth	no growth	no growth	no growth	3.7 yrs	2.8 yrs	profitable
MeridianLink	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable
Powerschool Holdings	0.1 yrs	0.1 yrs	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	---	---	---
Fresh Works	1.4 yrs	2.0 yrs	1.8 yrs	1.8 yrs	2.1 yrs	1.8 yrs	1.6 yrs	1.6 yrs	1.4 yrs	1.3 yrs	1.2 yrs	1.0 yrs	0.9 yrs
Definitive Healthcare	0.8 yrs	0.8 yrs	0.7 yrs	0.6 yrs	1.3 yrs	2.0 yrs	1.0 yrs	1.6 yrs	2.7 yrs	27.3 yrs	no growth	profitable	no growth
ForgeRock	2.2 yrs	6.0 yrs	0.9 yrs	1.3 yrs	1.7 yrs	---	---	---	---	---	---	---	---
Amplitude	1.1 yrs	1.3 yrs	1.4 yrs	1.2 yrs	2.0 yrs	3.0 yrs	1.9 yrs	3.4 yrs	3.5 yrs	3.3 yrs	4.9 yrs	3.7 yrs	3.2 yrs
Gitlab	1.1 yrs	1.5 yrs	1.2 yrs	0.9 yrs	1.5 yrs	1.4 yrs	1.1 yrs	1.1 yrs	1.1 yrs	1.0 yrs	1.3 yrs	0.6 yrs	0.7 yrs
Enfusion	1.3 yrs	0.4 yrs	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	profitable	---
avidxchange	1.3 yrs	1.2 yrs	1.3 yrs	1.3 yrs	1.1 yrs	1.3 yrs	0.6 yrs	0.7 yrs	0.5 yrs	0.4 yrs	0.2 yrs	0.1 yrs	0.3 yrs
Informatica	profitable	0.3 yrs	profitable	profitable	10.0 yrs	1.3 yrs	profitable	0.1 yrs	profitable	profitable	profitable	2.0 yrs	profitable
BackBlaze	2.9 yrs	2.4 yrs	2.4 yrs	2.8 yrs	4.1 yrs	4.6 yrs	5.3 yrs	2.2 yrs	1.9 yrs	1.6 yrs	1.5 yrs	2.7 yrs	2.4 yrs
Expensify	0.5 yrs	0.5 yrs	1.1 yrs	0.1 yrs	---	---	no growth	no growth	no growth	no growth	no growth	no growth	0.1 yrs
Weave	1.8 yrs	2.1 yrs	2.0 yrs	1.4 yrs	1.4 yrs	1.4 yrs	1.0 yrs	1.2 yrs	1.1 yrs	1.0 yrs	1.0 yrs	0.8 yrs	0.8 yrs
Braze	1.3 yrs	1.1 yrs	1.2 yrs	1.1 yrs	1.7 yrs	1.2 yrs	1.1 yrs	1.1 yrs	1.1 yrs	1.1 yrs	1.2 yrs	1.0 yrs	1.1 yrs
UserTesting	1.0 yrs	1.5 yrs	---	---	---	---	---	---	---	---	---	---	---
Hashicorp	2.3 yrs	2.0 yrs	1.8 yrs	1.4 yrs	1.8 yrs	2.8 yrs	2.7 yrs	3.1 yrs	2.8 yrs	2.4 yrs	1.7 yrs	---	---
Samsara	1.3 yrs	1.3 yrs	1.1 yrs	0.9 yrs	1.2 yrs	1.0 yrs	0.8 yrs	0.7 yrs	0.8 yrs	0.7 yrs	1.0 yrs	0.5 yrs	0.5 yrs
Klaviyo	---	---	---	---	---	---	---	0.3 yrs	0.4 yrs	1.4 yrs	0.1 yrs	0.3 yrs	0.3 yrs
Rubrik	---	---	---	---	---	---	---	---	---	1.1 yrs	1.3 yrs	1.2 yrs	1.4 yrs
Waystar	---	---	---	---	---	---	---	---	---	profitable	profitable	profitable	---
Onestream	---	---	---	---	---	---	---	---	---	---	---	0.3 yrs	---
ServiceTitan	---	---	---	---	---	---	---	---	---	---	---	0.1 yrs	---
Sailpoint	---	---	---	---	---	---	---	---	---	---	---	---	---


MEDIAN	1.3 yrs	1.4 yrs	1.3 yrs	1.1 yrs	1.4 yrs	1.4 yrs	1.1 yrs	1.2 yrs	1.3 yrs	1.3 yrs	1.2 yrs	1.0 yrs	0.94 yrs


Active Companies	66	64	64	64	63	61	61	61	62	64	62	60	58
Profitable	12	11	15	12	14	17	19	23	16	21	22	24	14