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Rule of 40 TrendTickerQ4 2023Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025
Mongo DBMDB16%1%-2%17%16%12%13%16%20%
DropboxDBX50%26%22%21%16%28%25%27%26%
ZuoraZUO-6%2%-2%-4%---------------
DocusignDOCU11%10%15%16%15%15%17%19%18%
SmartSheetSMAR19%15%14%16%---------------
ZscalerZS27%32%25%22%17%19%19%21%20%
MomentivMNTV---------------------------
PagerDutyPD-14%-12%-6%1%-8%-1%10%12%9%
Zoom VideoZM18%21%19%19%22%23%31%---24%
FastlyFSLY-15%-21%-27%-22%-16%-18%-13%-3%6%
CrowdstrikeCRWD40%34%33%23%21%8%12%17%24%
DynaTraceDT33%40%31%30%30%------33%32%
Health CatalystHCAT-37%-29%-17%-14%-19%-19%-39%-23%---
Ping IdentityPING---------------------------
DataDogDDOG32%29%29%29%27%23%24%28%32%
CloudflareNET21%16%21%21%21%16%15%30%11%
Sprout SocialSPT11%15%9%4%9%3%2%5%4%
Bill.comBILL1%10%16%16%8%3%8%5%10%
ZoominfoZI35%17%-12%10%8%15%23%26%20%
SnowflakeSNOW0%-9%-12%-10%-10%-17%2%2%3%
Unity SoftwareU15%-89%-45%-46%-44%-35%-29%-21%-21%
Sumo LogicSUMO---------------------------
JfrogFROG9%9%4%-4%1%3%3%9%9%
PalantirPLTR28%34%43%46%30%59%75%96%97%
AsanaASAN-21%-25%-32%-22%-23%-15%-16%-25%---
DattoMSP---------------------------
PubMaticPUBM28%12%1%11%26%-23%-2%-18%---
C3.aiAI-87%-75%-86%-62%-63%----197%-169%---
CertaraCERT-4%6%-6%13%15%18%21%14%9%
QualtricsXM---------------------------
ON24ONTF-47%-45%-47%-44%-41%-38%-31%-28%---
ViantDSP14%17%13%41%37%25%19%13%31%
OloOLO-10%17%29%12%19%19%18%------
DigitalOceanDOCN26%18%24%24%29%32%30%35%32%
SEMrushSEMR24%23%25%25%24%24%16%12%6%
UiPathPATH27%1%-23%-3%17%2%9%19%29%
AlkamiALKT13%11%16%14%17%12%22%20%25%
DoubleVerifyDV48%20%24%33%35%22%29%22%32%
SquareSpaceSQSP24%13%26%------------------
ZipRecruiterZIP-18%-34%-20%11%-30%-20%-15%-7%---
ProcorePCOR17%19%19%7%-1%4%4%10%3%
SprinklrCXM28%16%16%11%14%3%15%15%14%
Zeta GlobalZETA8%5%21%37%40%30%34%28%34%
DoximityDOCS61%42%53%59%72%55%52%61%49%
ConfluentCFLT-7%-27%-22%-12%-16%-12%-15%-9%---
SentinelOneS0%-4%-7%-14%-3%-15%-11%-5%-8%
EverCommerceEVCM9%3%8%7%-3%14%16%16%13%
CouchbaseBASE-29%-16%-22%-24%-13%-23%-32%------
KalturaKLTR-69%-13%19%12%42%1%6%3%---
Blend LabsBLND-95%-67%-40%-17%-1%-16%-4%-15%-7%
MeridianLinkMLNK148%5%3%8%4%10%14%------
Powerschool HoldingsPWSC12%18%6%------------------
Fresh WorksFRSH-5%0%-5%1%9%13%13%12%34%
Definitive HealthcareDH-2%-18%-574%-364%942%-319%-12%-19%---
ForgeRockFORG---------------------------
AmplitudeAMPL-10%-25%-23%-16%-28%-20%-15%-9%-1%
GitlabGTLB15%2%8%8%28%10%21%19%24%
EnfusionENFN21%15%22%22%19%------------
avidxchangeAVDX14%18%13%15%17%-2%-6%------
InformaticaINFA14%7%9%15%18%12%2%------
BackBlazeBLZE-18%-7%-4%-9%-16%-11%-3%7%3%
ExpensifyEXFY-28%-22%-14%-2%-7%4%-23%-6%---
WeaveWEAV2%2%3%8%6%13%-1%3%4%
BrazeBRZE8%4%7%2%12%-5%3%6%11%
UserTestingUSER---------------------------
HashicorpHCP-7%-26%-11%1%---------------
SamsaraIOT24%14%18%18%31%22%24%29%35%
KlaviyoKVYO47%24%29%29%21%25%21%29%31%
RubrikRBRK----349%-47%-47%22%15%21%27%27%
WaystarWAY------23%33%---40%39%34%36%
OnestreamOS------26%-177%----6%4%8%20%
ServiceTitanTTAN---------------4%12%8%8%
SailPointSAIL----------------57%18%5%11%
FigmaFIG------------------41%-376%12%
NetskopeNTSK----------------------209%-8%
MEDIAN12%6%8%10%15%6%12%11%18%
Average8%-4%-6%-2%25%0%6%-3%18%
Number of Companies Achieving R40191413162219182130
Total Companies616264625758605647
Percent Achieving31%23%20%26%39%33%30%38%64%