Markets
Intellectia.ai: $285B in SaaS Market Cap Wiped in Early 2026 — Average Forward Multiple Fell from 39x to 21x
Intellectia's 2026 market analysis documents the scale of the SaaS correction: average forward earnings multiples fell from approximately 39x to 21x within months, with $285B+ in total market cap wiped. The report maps the steepest corrections to five categories (workflow automation, analytics, CRM, support, HR) while vertical SaaS with proprietary data moats outperformed. The 39x-to-21x compression is notable because it occurred before most AI replacement was confirmed in actual revenue data — driven by anticipatory multiple contraction.
↳ Follow the thread