Sector Spotlight: Cloud Software Valuations in 2025 – Overheated or Justified?
Executive summary Summary fundamentals Representative data points (latest public company releases; market snapshots): Detailed fundamental analysis Revenue trends and quality Public cloud software leaders show bifurcation: firms with >120% net revenue retention, many >$1M customers, and multi-year remaining performance obligations (RPO) exhibit durable top-line visibility (Snowflake RPO $6.9B; net retention 125%). That profile supports higher…