A Pretty Good Week in SaaS: Shopify, Datadog, Abnormal Security, Palantir, Atlassian All Crush It - The Entrepreneurial Way with A.I.

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Sunday, August 11, 2024

A Pretty Good Week in SaaS: Shopify, Datadog, Abnormal Security, Palantir, Atlassian All Crush It

#SmallBusiness

So this was another Pretty Good Week in SaaS:

#1. Shopify Blows Out the Quarter, Accelerating at $8B+ ARR

A bit of strong news from the leader in e-commerce platforms. Shopify is re-accelerating at $8B ARR. It’s growing 21% now and predicting even faster growth in the coming quarters. Don’t Call It a Downturn at Shopify.

More here:

Shopify and Toast and Monday Are On Fire: There’s No “Downturn” in B2B2C

#2. Datadog Blows Out the Quarter Too at $2.6B+ in ARR

Datadog also saw growth re-accelerate, at 27% at $2.6B ARR. NRR stayed strong at 115% and it raised guidance going forward.

#3. Abnormal Security Grows 100%+ at $200m, Raised at $5B

Another Cloud security leader growing at a breathtaking pace. Not Wiz fast. But very, very fast.

#4. Palantir Also Sees Growth Accelerating, Grows 27% at $2.8B ARR

A big beneficiary of AI and government spend.

#5. Atlassian Predicts Hitting $10B ARR in ~5 Years

Atlassian had a bit of a mixed quarter, but overall it’s still predicting revenue to grow 20% a year for the years to come, all the way from $4.4B ARR today to $10B+ ARR. It’s not predicting any slowdown.

5 Interesting Learnings from Atlassian at $4.4 Billion in ARR

So Another Good Week in SaaS. Shopify, Toast, Atlassian, Palantir and more don’t see any real slowdown. Security remains hot.

It wasn’t all roses & daisies. But lots of spaces and leaders are still having a Pretty Good 2024.

 

The post A Pretty Good Week in SaaS: Shopify, Datadog, Abnormal Security, Palantir, Atlassian All Crush It appeared first on SaaStr.





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Jason Lemkin, Khareem Sudlow