Imagine spending just 4% of revenue on sales and marketing and pulling off 77% revenue growth. That’s exactly what AppLovin did this quarter - and they weren’t the only standout in Q2.

In Episode 25 of the SaaS Report, we break down the latest Q2 earnings from some of the biggest names in SaaS - HubSpot, Atlassian, Appian, Datadog, Klaviyo, Semrush - plus a closer look at AppLovin’s staggering numbers. We’ll talk growth rates, margins, CAC paybacks, net revenue retention, and the market trends that are shaping the rest of 2025.

Whether you’re a founder, investor, or SaaS operator, these are the metrics and insights you need to know to benchmark performance and spot where the market is headed.

📊 Want the raw data?
Grab the Q2 State of SaaS data sheet (the exact master spreadsheet I use to compile this report) here: https://www.send.co/a/-state-of-saas-data-sheet-IxBVvL6Y

📍 Chapters
00:00 – AppLovin’s 77% growth on 4% S&M spend
01:48 – AppLovin sells mobile apps business
02:37 – Appian’s growth challenges & efficiency gains
04:23 – HubSpot adds 9,724 customers in Q2
06:20 – Atlassian’s ARR growth slowdown
08:21 – Klaviyo holds steady at 32% ARR growth
09:36 – Semrush’s CAC payback problem
11:03 – Datadog’s consistent 28% growth at $3B ARR
12:27 – How to access the Q2 State of SaaS spreadsheet

#SaaS #Earnings #HubSpot #Atlassian #AppLovin #Datadog #Klaviyo #Appian #Semrush #SaaSmetrics #Investing #TechStocks