SaaS Historical Benchmarks 2025 Benchmarkit Update
RESEARCH SERIES BY
SaaS Historical Benchmarks - Executive Summary
2010 to 2021 Benchmarks:
‘10-’21 Chg PP
‘10-’21 CAGR 2022 2023 2024
‘10-’24 Chg PP
‘10-’24 CAGR
‘10-’24 Heatmap
2010 2021
Net Revenue Retention 106% 109% 3% Gross Revenue Churn 5% 14% 9% % Revenue From Expansion 19% 46% 27%
103% 101% 101% (5%) 11% 11% 12% 7%
33% 35% 40% 21% New Logo CAC $0.93 $1.78 91% 6% $1.76 $1.76 $2.00 215% 5% Expansion CAC $0.28 $0.61 118% 7% $0.69 $1.00 $1.00 257% 11%
Field Sales CAC $1.00 $2.07 107% 7% Inside Sales CAC $0.90 $1.40 56% 4%
Revenue Per Employee* ($k) $142 $143
1% 0%
$156
10% 1%
2022 to 2024 Benchmarks:
Margins: Gross Margin 71% 73% 2% Sales + Marketing 32% 40% 8%
72% 74% 77% 6% 34% 34% 37% 5% 30% 30% 34% 11% 24% 23% 24% 10%
R+D 23% 25% 2% G+A 14% 19% 5%
EBITDA 1% (10%)
(11%)
(16%) (13%) (17%)
(18%)
Revenue Growth 45% 28% (17%) Rule of 40 ** 46% 18% (28%)
30% 27% 26% (19%) 14% 14% 15% (31%)
Source: Pacific Crest / Key Banc / Benchmarkit Surveys. *: Rev/FTE starts 2014 **: 2022 + 2023: Derived from P&L, differs from report median. Social Attribution: @CloudRatings + @SaaSletter
Cumulative SaaS Funding History - ‘08- Q2’25
Early Stage
Late Stage
$140,000
$120,000
$100,000
$80,000
$60,000
$40,000
$20,000
$0
Source: Crunchbase Hubs Social Attribution: @CloudRatings + @SaaSletter
SaaS Funding History - 2008 - Q2 2025
Early Stage
Late Stage
$14,000
$12,000
$10,000
Stripe - Series I: $6.5b - Mar’23
$8,000
$6,000
$4,000
$2,000
$0
Source: Crunchbase Hubs Social Attribution: @CloudRatings + @SaaSletter
New Logo CAC - 2009-2024
$2.0
$2.00
$1.78
$1.76 $1.76
$1.62 $1.67
$1.5
$1.58
$1.32 $1.34
$1.18 $1.13 $1.15
$1.0
$1.07
$0.93 $0.90 $0.92
$0.73
$0.5
$0.0
Source: Pacific Crest / Key Banc / Benchmarkit Surveys Social Attribution: @CloudRatings + @SaaSletter
Expansion CAC - 2009-2024
$1.0
$1.00 $1.00
$0.8
$0.69
$0.69
$0.66
$0.66
$0.6
$0.61
$0.61
$0.57
$0.4
$0.28
$0.28 $0.27
$0.2
$0.18 $0.17 $0.18
$0.0
Source: Pacific Crest / Key Banc / Benchmarkit Surveys Social Attribution: @CloudRatings + @SaaSletter
% of Revenue From Expansion - 2010-2024
50%
46%
40%
40%
37% 36%
35%
34%
33%
30%
30%
20%
19%
19%
16% 15%
14% 13% 14%
10%
0%
Source: Pacific Crest / Key Banc / Benchmarkit Surveys Social Attribution: @CloudRatings + @SaaSletter
Net Revenue Retention - 2010-2024
Public Co’s = 110%
120%
109% 105%
106% 106%
100%
103% 101% 101%
101% 103% 104% 102% 101% 102% 103% 102%
80%
60%
40%
106% 106% 101% 103% 104% 102% 101% 102% 103% 102% 109% 105% 103% 101% 101% 0% 20%
Source: Pacific Crest / Key Banc / Benchmarkit Surveys Social Attribution: @CloudRatings + @SaaSletter
Gross Revenue Churn - 2009-2024
10% 12% 14%
14%
14%
13% 13%
13%
13%
12%
11% 11%
9%
8% 5% 5% 9% 6% 7% 8% 8% 13% 13% 14% 13% 14% 13% 11% 11% 12% 0% 2% 4% 6% 8% 8% 5% 5% 6% 7% 8% 8%
Source: Pacific Crest / Key Banc / Benchmarkit Surveys Social Attribution: @CloudRatings + @SaaSletter
P&L Summary - 2009-2024
Gross Margin Sales + Marketing R+D G+A EBITDA
0% -20% -40% 20% 40% 60% 80%
Source: Pacific Crest / Key Banc / Benchmarkit Surveys Social Attribution: @CloudRatings + @SaaSletter
Rule of 40 = Growth + Margins - 2009-2024
Rule of 40 Revenue Growth EBITDA Margins
60%
40%
20%
0%
-20%
-40%
Source: Pacific Crest / Key Banc / Benchmarkit Surveys Social Attribution: @CloudRatings + @SaaSletter
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