Every week I’ll provide updates on the latest trends in cloud software companies. Follow along to stay up to date! Software Fundamentals So far, software seems to be holding up well given all the macro uncertainty. GitLab reported earnings this week and even sounded aggressive, saying they’re seeing no slowdown in sales cycles / win rates, and actually seeing buying cycles speed up. One fear was that Q2s were the calm before the storm and Q3 would be where we see weakness, but so far it’s looking like Q3s will look a lot like Q2s - Overall strong quarters, with weak guidance that errs more on the side of conservatism vs grounded in weakness showing up. Anecdotally it sounds like a lot of the deals that were pushed in Q2 have closed already in Q3. Given we’re more than 2/3 through Q3 for companies with September quarter ends, I’m expecting strong Q3s.
I’m really appreciating the sensible, balanced market and sector commentary you are providing at the beginning of these blogs. Thank you for the insight.
I’m really appreciating the sensible, balanced market and sector commentary you are providing at the beginning of these blogs. Thank you for the insight.
Great analysis, as always!