Historical SaaS Benchmarks

10% 7.5% 5% 2.5% 0% -2.5% -5% -7.5% -10% EBITDA Margin Bridge 10% +2%

-2%

-1%

-5%

-8%

G&A 2021 EBITDA Margin

Gross Margin

R+D

Sales + Marketing

2010 EBITDA Margin

Source: Pacific Crest / Key Banc SaaS Surveys Social Attribution: @CloudRatings + @SaaSletter