Technology & Cloud
Cloud, software, AI, digital advertising, and enterprise technology businesses. This page compares reported financial scale with the customer needs and operating signals that shape sector performance.
- Companies
- 139
- Average revenue
- $21.2B
- Average margin
- 4.0%
- Average growth
- 16.0%
What this industry is really competing to solve
Demand emerges when a person or organization needs to complete complex work faster, with less uncertainty and less infrastructure burden. The deeper motives are control, competence, speed, and confidence that an important task will not fail. This is why the competitive set extends beyond companies with the same industry code.
Customers can also choose manual work, internal tools, on-premise systems, consultants, rival platforms, and postponing the decision. Industry growth becomes durable only when companies make the desired progress easier than those alternatives.
How demand becomes profit and cash
The common mechanism is turning product usage, data, and distribution into recurring revenue and lower service cost per customer. Across the industry, the decisive investment question is whether product and infrastructure investment produces durable usage before depreciation and acquisition costs absorb the gain.
Average operating profit is $4.9B, but the spread between leaders and laggards matters more than the average alone. Compare scale, margin, growth, and the leading indicators together.
Technology & Cloud companies
| Company | Revenue | Operating profit | Margin | Growth |
|---|---|---|---|---|
| Diodes Incorporated DIOD | $1.5B | $35M | 2.4% | +13.0% |
| BILL Holdings BILL | $1.5B | -$81M | -5.5% | +13.4% |
| Credo Technology Group CRDO | $1.3B | $445M | 33.3% | +205.5% |
| Procore Technologies PCOR | $1.3B | -$124M | -9.4% | +14.8% |
| Guidewire Software GWRE | $1.2B | $41M | 3.4% | +22.7% |
| Box BOX | $1.2B | $83M | 7.1% | +8.0% |
| Five9 FIVN | $1.1B | $29M | 2.5% | +10.3% |
| Blackbaud BLKB | $1.1B | $191M | 16.9% | -2.3% |
| Manhattan Associates MANH | $1.1B | $280M | 25.9% | +3.7% |
| IPG Photonics IPGP | $1B | $13M | 1.3% | +2.8% |
| SentinelOne S | $1B | -$321M | -32.1% | +21.9% |
| Tenable TENB | $999M | -$9M | -0.9% | +11.0% |
| Novanta NOVT | $981M | $94M | 9.6% | +3.4% |
| Progress Software PRGS | $978M | $153M | 15.6% | +29.9% |
| GitLab GTLB | $955M | -$70M | -7.3% | +25.8% |
| AppFolio APPF | $951M | $153M | 16.1% | +19.8% |
| DigitalOcean DOCN | $901M | $157M | 17.4% | +15.4% |
| Allegro MicroSystems ALGM | $890M | $18M | 2.0% | +22.8% |
| Workiva WK | $885M | -$42M | -4.7% | +19.8% |
| Rapid7 RPD | $860M | $12M | 1.4% | +1.9% |
| Axcelis Technologies ACLS | $839M | $119M | 14.2% | -17.6% |
| Q2 Holdings QTWO | $795M | $40M | 5.0% | +14.2% |
| Asana ASAN | $791M | -$197M | -24.9% | +9.3% |
| FormFactor FORM | $785M | $57M | 7.3% | +2.7% |
| Wolfspeed WOLF | $758M | -$1.3B | -175.3% | -6.1% |
| Appian APPN | $727M | $1M | 0.1% | +17.8% |
| Rambus RMBS | $708M | $260M | 36.7% | +27.1% |
| BlackLine BL | $700M | $26M | 3.7% | +7.2% |
| Qualys QLYS | $669M | $222M | 33.2% | +10.0% |
| Veeco Instruments VECO | $664M | $36M | 5.4% | -7.4% |
| Universal Display OLED | $651M | $249M | 38.2% | +0.5% |
| Varonis Systems VRNS | $624M | -$147M | -23.6% | +13.2% |
| nCino NCNO | $595M | $4M | 0.7% | +10.0% |
| CTS Corporation CTS | $541M | $83M | 15.3% | +5.0% |
| JFrog FROG | $532M | -$92M | -17.3% | +24.3% |
| Lattice Semiconductor LSCC | $523M | $11M | 2.1% | +2.8% |
| PagerDuty PD | $493M | $6M | 1.2% | +5.6% |
| Strategy MSTR | $477M | -$5.4B | -1141.3% | +3.0% |
| Cohu COHU | $453M | -$70M | -15.5% | +12.7% |
| Power Integrations POWI | $444M | $10M | 2.3% | +6.0% |
| Vicor VICR | $408M | $82M | 20.1% | +13.6% |
| Amplitude AMPL | $343M | -$85M | -24.8% | +14.7% |
| SiTime SITM | $327M | -$67M | -20.5% | +61.1% |
