Only seven public B2B software companies are growing over 30%, and the ones that are bill on usage.

SaaStr's tally of most-recent-quarter earnings argues the healthy 30-50% growth band from five years ago has vanished, leaving a small usage-billed group, a large cluster in the low-to-mid twenties, and a long single-digit tail. Palantir, Datadog, Cloudflare and Snowflake all bill against usage in some form, so AI workload growth flows into revenue with no seat negotiation and no sales cycle. Pairs directly with the private-market week: Owner at $100M ARR, and Instinct going from $50M to $2.5B valuation in months. (SaaStr)