In this episode of The SaaS Report, we break down Q3 earnings across public SaaS - what’s actually happening behind the headline growth numbers, where efficiency is cracking, and why M&A activity is accelerating.

We cover:

• HubSpot’s slowing growth and rising cost of net new ARR
• Atlassian hitting the law of large numbers
• Klaviyo’s standout quarter and long runway
• IBM’s acquisition of Confluent and what it signals for mid-stage SaaS
• Adobe’s premium acquisition of Semrush - and why this deal is different

If you care about ARR quality, CAC payback, valuation multiples, and where public SaaS is heading into 2026, this episode is for you.