SEG：2023年第二季度SaaS报告.pdf

2023 Saas Summary • Outlook across the broader markets has improved as core inflation demonstrated a notable cooling toward the end of 2023, generating optimism for the potential easing of interest rate hikes. Interest rate hikes paused in June, but Federal Reserve officials have indicated additional hikes are likely r町uired this year to tame inflation. • The Consumer Price Index (CPI) increased by 3% YOY. This change marks the lowest increase in two years and further improves ma『1et sentiment for investors and consumers. • Improving market sentiment coupled with industry excitement around Al have contributed to a strong first half for 828 Saas stock performance. The YTD median share price performance of the SEG Saas Index posted growth of 19.1 %. The median EV汀TM Revenue multiple of the SEG Saas Index continued its rebound from 4022 lows and arrived at 6.0x, a slight improvement over last quarter’s 5.8x. ’ • The average EVITTM Revenue multiple for Saas MA was 5.6x, falling slightly below 1023 s 5.9x average. High-quality businesses continue to garner significant interest and command above-average, premium multiples in today’s market. Howeve飞 Saas businesses burning cash and st阳ggling to demonstrate 陀venue durability (i.e., poor customer retention), that are undergoing t『ansactions due to a need for liquidity are seeing multiple compression, resulting in a 4.7x 巳／厅TMRevenue median. Please 也且1:l..Q监with any questions or to discuss our relevant market insights. I SEG …－ ’