SaaS Metrics Weekly — 2026-07-17
State Street reported strong Q2 2026 earnings with revenue reaching $4.0B (up 17% YoY), while prediction market startup Pascal secured $9M in Series A funding led by Union Square Ventures. Separately, Tecsys delivered SaaS-focused results with Q4 2026 SaaS revenue up 17% YoY and net retention at 106%, signaling continued momentum in the cloud software sector despite broader market volatility.
SaaS Metrics Weekly — 2026-07-17
Earnings & Revenue Reports
State Street — Q2 2026 Results
- Revenue: $4.0 billion (↑ 17% YoY)
- EPS: $3.65, with ROE of 16.7%
- AUM: Record $6.3 trillion; AUC/A at record $57.9 trillion
- Capital Return: $631 million returned to shareholders
- Takeaway: State Street's custody and asset management division delivered strong results, demonstrating resilience in institutional financial software and services despite macro headwinds.
Tecsys — Q4 FY2026 Results
- SaaS Revenue: $193.1M (↑ 17% YoY)
- Recurring Revenue Mix: 58% of total revenue
- SaaS ARR: $86.8 million
- Net Retention: 106%
- Gross Margin: 52%
- Takeaway: Tecsys demonstrated strong SaaS momentum despite EPS headwinds, with healthcare focus and margin expansion driving growth in recurring cloud solutions.
Funding & Deals
| Company | Round/Deal | Amount | Valuation | Lead Investor |
|---|---|---|---|---|
| Pascal | Series A | $9 million | Undisclosed | Union Square Ventures |
| North American startups (H1 2026) | Overall funding | $392 billion | — | Multiple |
Pascal, a New York-based prediction market platform, raised $9M in Series A funding to challenge established competitors Kalshi and Polymarket, signaling investor appetite for alternatives in the prediction market infrastructure space.
Market Pulse
- Capital Markets: North American startup funding totaled $392 billion in H1 2026, demonstrating continued investor appetite despite selective deployment toward AI and infrastructure plays.
- Sector Sentiment: SaaS earnings remain mixed, with cloud software companies showing resilience in revenue growth (15–17% YoY typical for mature SaaS platforms) while profitability faces margin pressures from wage inflation and operational costs.
- M&A Activity: Q2 2026 marked strong exit activity overall, with IPOs and acquisitions returning in force alongside robust venture funding.
Industry Moves
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Vertiseit: Q2 2026 organic ARR grew approximately SEK 20 million during the quarter, with the Scala acquisition contributing SEK 85 million in ARR at acquisition and generating revenue momentum in the month following consolidation.
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Software Valuations Under Pressure: Public software companies traded at clear segmentation across infrastructure, vertical, and horizontal categories in July 2026, with significant dispersion in EV/Revenue and EV/EBITDA multiples reflecting market bifurcation between high-growth and mature vendors.
What to Watch Next Week
- Earnings cycle continuation: Remaining public SaaS companies reporting Q2 2026 or Q3 2026 results in late July, with investor focus on cloud revenue mix and net retention rates.
- Venture funding announcements: Series A/B rounds expected from AI infrastructure and enterprise software startups leveraging H1 2026 capital momentum.
- Market volatility: Fed policy signals and macro sentiment will continue to pressure software stock multiples through remainder of month.
Note: Data coverage limited to reports published after 2026-07-10. Older earnings announcements and funding rounds excluded per editorial guidelines.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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