Welcome to Episode 26 of The SaaS Report!

In this episode, Matt Aird breaks down the latest quarterly results from Palo Alto Networks, Sprout Social, and SimilarWeb, before diving into why he believes Monday.com is significantly undervalued after its 40%+ share price decline.

We’ll look at key SaaS metrics - ARR growth, CAC payback, Rule of 40, operating margins - and compare Monday.com’s performance against other leading SaaS companies like Procore, GitLab, MongoDB, and HubSpot.

If you’re an operator, investor, or just curious about where SaaS is heading, this episode has the insights you need.

📌 Chapters:
00:00 – Intro
00:58 – Episode overview
01:29 – Palo Alto Networks Q2 breakdown
02:26 – Palo Alto efficiency & SaaS metrics
02:58 – Sprout Social Q2 results
03:32 – Growth challenges & CAC payback
04:07 – Sprout Social margins & valuation
04:23 – SimilarWeb introduction
05:00 – SimilarWeb growth & challenges
05:38 – Business efficiency concerns
06:09 – Monday.com share price decline explained
07:03 – Google search & AI impacts
08:10 – Revenue guidance concerns
09:04 – Competing with AI-native SaaS for investor attention
09:57 – Why Monday.com is undervalued
10:31 – Comparing Monday to Procore
10:54 – Comparing Monday to GitLab
11:10 – Comparing Monday to MongoDB
11:33 – Comparing Monday to HubSpot
12:07 – SaaS metrics comparison (growth, CAC, FCF margins)
12:22 – Why Monday looks oversold
12:40 – Figma IPO fun fact & wrap-up