The Great Software Awakening: April 15 Marks V-Shaped Sector Recovery as SaaSpocalypse Bottoms
FinancialContent·high signal
FinancialContent declares the 18-month SaaS Apocalypse over as the iShares Expanded Tech-Software ETF (IGV) surged 6%+ in 48 hours starting April 13. EV/Revenue multiples bottomed at 3.1x-3.4x (down from ~7.0x in early 2025), and the software sector P/E compressed to 22.7x — now below consumer staples and industrials despite faster growth. The recovery is driven by incumbents pivoting to 'Agentic Work Units' and 'Performance Credits' pricing, decoupling revenue from seat counts.