Software-as-a-Service sector report - May 2023: Have headwinds peaked?

Today, we publish our updated report on the Software-as-a-Service (SaaS) sector with the headline: "Have headwinds peaked?"

From a valuation perspective, the sector has been hit by a higher interest rate environment, which potentially could have peaked. At the same time, we have seen a lower growth rate in Q1 2023 from the listed global SaaS companies, which is now closer to Gartner's projected 2023 SaaS global market growth. The upcoming financial reports will give us a clearer answer on whether we have seen headwinds having peaked or not. 

Looking at valuation, we have seen a tendency that PE firms are moving in and buying SaaS companies at higher valuation multiples than current public median multiples. Moreover, some of the smallest SaaS companies are considering a delisting due to low share liquidity, with one or more companies expecting a higher valuation after being taken private. This could indicate that we are not the only one asking whether headwinds on the markets have peaked.

Read more in the report about the latest development in the global and Danish SaaS sector and get a full overview of the Danish-listed SaaS companies, including recent valuation multiples and insights into the investment case of Agillic, Impero, MapsPeople, OrderYOYO, and Penneo. 

We will also host our annual virtual SaaS seminar on 14 June 2023. We will announce more about the speakers and attending companies over the coming period. Sign up here: https://www.inderes.dk/videos/saas-seminar-2023

HC Andersen Capital receives payment from Agillic, Impero, MapsPeople, OrderYOYO, and Penneo for a Digital IR/Corporate Visibility subscription agreement. /Kasper Lihn 16:45, 24 May 2023.