Thanks for sticking with us while we pulled together the 2025 data. If you haven’t seen the previous editions yet, they’re worth a look and download.
So what’s new in this year’s report?
We expanded the data set to get a clearer picture of which SaaS businesses are actually selling, how buyers are pricing them, and what’s driving those outcomes.
This time, the focus is entirely on profit multiples. For most SaaS acquisitions, buyers still anchor valuation on profit unless a business is operating at exceptional scale with strong growth and retention.
That means some companies will sell well above these ranges. But for founders looking to actively sell rather than wait on the sidelines, the numbers below reflect what buyers are consistently paying today.
In other words, this data reflects the part of the market where most SaaS acquisitions occur, typically businesses with an enterprise value below $10 million.
Where profitable SaaS stands in today’s market
Looking at the 2025 data, one pattern is hard to ignore: profitable SaaS businesses continue to perform better in the acquisition market.
Across confirmed transactions, profitable startups tend to attract more buyer interest, receive more offers, and move through the market faster. This shows up consistently in both deal volume and outcomes, reinforcing how central profitability has become in buyer decision-making.
You can also see this reflected in valuation trends. While public SaaS multiples declined sharply over the past few years, asking prices and outcomes on Acquire.com proved more resilient. Buyers remain active, but they are far more selective, prioritizing businesses with clear economics and lower perceived risk.
That combination helps explain why profitable SaaS businesses continue to command attention and close at strong multiples, even in a more disciplined market. The way listings are priced, prepared, and presented plays a significant role in how this demand translates into real outcomes.
Turning data into better outcomes
The data shows that successful exits tend to start with realistic expectations. Businesses priced closer to market norms generally attract more qualified buyers, which creates momentum and improves both valuation and deal terms over time.
Preparation plays an equally important role. Improving profitability, tightening operations, and clearly presenting how the business runs all reduce perceived risk for buyers. Even incremental improvements can materially change how a listing performs once it’s live.
Valuation isn’t just about the number on the listing page. It’s also shaped by demand. Listings that generate more buyer interest naturally create more options, and more options often lead to stronger outcomes. That’s where pricing discipline and positioning begin to matter as much as the underlying metrics.
Across deals, buyers continue to favor businesses that feel understandable and manageable. Recurring revenue, clear economics, and alignment with a buyer’s experience carry significant weight. Strong numbers open the door, but clarity, responsiveness, and preparation are what turn interest into completed transactions.
Now, let’s dive into the data.
Multiples Report – January 2026
Disclaimer on the Data
This report is based on anonymized, customer-provided information. While we are able to verify the details of acquisition transactions completed on the Acquire.com platform, individual outcomes may vary, and some transactions may close at values above or below those reflected here.
The information in this report is provided for general, informational purposes only. It is not intended to serve as legal, financial, or professional advice, nor should it be relied upon as such. We encourage founders and buyers to consult qualified M&A, legal, or financial professionals before entering into any transaction.
Nothing in this report is intended to create, replace, or interfere with an existing professional relationship. Acquire.com makes no representations or warranties regarding the accuracy, completeness, or applicability of the information presented, and readers should consider this data alongside other relevant factors when evaluating acquisition decisions.
Who Built This Report
We’re on a mission to build the world’s most founder-friendly startup acquisition marketplace. As well as providing you with tools and expertise to maximize your exit, we believe in absolute transparency. We started these multiple reports to give you insights that M&A professionals don’t usually publish publicly.
If this is your first visit, see why you could do no better than selling your business on Acquire.com in the slide below. Yes, we’re a startup, but with an amazing team of former SaaS founders and M&A professionals with decades of acquisition experience. Why trust your sale to anyone else?
What’s Happening at the Macro Level?
Public SaaS revenue multiples declined steadily over the past few years. After averaging 17x in 2022, multiples dropped to around 7x in 2023 and 2024, reaching roughly 5.5x by the end of 2025.
This trend sets the broader market context for how software businesses are being valued today. As the next slides show, outcomes on Acquire.com followed a different dynamic, particularly for profitable SaaS businesses.
Confirmed Purchase Price Profit Multiple
This compares live listings on the marketplace with confirmed sale prices by profit multiple. In many cases, asking prices are higher than final outcomes, highlighting the gap between initial expectations and where deals actually close.
The data shows that listings priced closer to market reality tend to attract more buyer interest and convert more efficiently.
Confirmed Purchase Price Profit Multiple: 2024 vs. 2025
Confirmed sale multiples remained stable year-over-year. In both 2024 and 2025, SaaS businesses sold at a median profit multiple of 3.9x, despite changes in listing volume and distribution.
This consistency suggests that buyer pricing expectations held steady across both periods, particularly for profitable SaaS businesses.
Confirmed SaaS Profit Multiples
Across the reporting period, confirmed SaaS profit multiples averaged in the low-to-mid 4x range. While most transactions clustered around this level, outcomes varied widely, with a small number of deals closing at significantly higher multiples.
This spread reflects differences in scale, profitability, and deal dynamics across the marketplace.
Asking Price vs. Buyer Interest
This chart shows the relationship between asking price and serious buyer interest relative to fair market value. As pricing moves closer to or below FMV, the share of serious buyer interest increases significantly, while pricing above FMV narrows the buyer pool.
Confirmed Sale Price to Profit Multiples
Each point represents a closed SaaS deal in the reporting period. Larger dots indicate larger purchase prices.
Profit Margins of SaaS Businesses Published on Acquire
SaaS businesses listed on Acquire.com tend to operate with high profit margins.
Most profitable SaaS startups published on the marketplace reported margins of 50 percent or higher. Average margins increased from 67 percent in 2023 to 71 percent in 2024 and remained stable in 2025.
Higher profitability remains a common characteristic among SaaS businesses entering the acquisition market.
Buyer Interest by Profit Margin
More profitable startups tend to attract higher levels of buyer interest on the marketplace.
Listings with stronger profit margins consistently receive more inbound buyer engagement than lower-margin businesses.
Outcomes of Setting a Realistic Asking Price
Across closed SaaS acquisitions, pricing tends to influence more than just headline valuation.
Listings with realistic asking prices typically receive broader buyer interest, stronger cash components, and face fewer post-closing conditions during negotiations.
This pattern appears consistently across completed transactions on the marketplace.
Number of Offers by Profit Margin
More profitable SaaS businesses consistently receive a higher number of offers on the marketplace.
As profitability increases, listings tend to attract broader buyer participation, while lower-margin or unprofitable businesses receive fewer offers on average.
How Quickly Do SaaS Startups Sell?
Most SaaS startups in the reporting period sold within a relatively short time on the market.
Smaller and lower-revenue businesses tended to close faster, with the majority of deals completing within the first 90 days. The average time on market across reported deals was 81 days.
Cash at Closing and Deal Structure Trade-Offs
Cash at closing offers immediate certainty and flexibility after a deal closes. In some cases, founders may prioritize this over maximizing headline valuation.
Valuation, deal structure, and speed often involve trade-offs. All-cash deals can simplify the process, while more complex structures may support higher prices but introduce additional conditions or timelines.
The right balance depends on the founder’s goals and risk tolerance.
How Do Our Multiples Compare With Other Marketplaces?
The profit multiples observed on Acquire.com fall within the same general ranges reported by other acquisition marketplaces.
While valuation ranges differ by deal size and by the metric used (sale price vs. EBITDA), the data shows no material divergence between marketplaces in terms of reported multiples.
How to Increase Your Valuation
The strategies shown below reflect common levers founders focus on when preparing for an acquisition.
These include increasing profit or revenue, reducing expenses, improving operational efficiency, strengthening intellectual property, and preparing early for the acquisition process.
The impact of each lever will vary by business, stage, and execution.
Is This You? It Could Be!
Some startups achieve higher profit multiples than others, often based on a combination of financial performance, business metrics, and qualitative attributes like those shown above.
If you want to understand how your business compares across these areas and how it may be positioned for an exit, our team can help you evaluate your options in the current market.
This report summarizes recent acquisition trends observed on Acquire.com, based on anonymized transaction data from the marketplace.
If you’re considering a potential exit and want to understand how these trends may apply to your business, our team can help you navigate the process and interpret the data.
Got questions about this report?
Contact us at support@acquire.com or explore the FAQs below.
FAQ
Why have you only reported on SaaS startups?
We focused this report on SaaS startups because that’s where we have the most complete and consistent data. SaaS is our largest market segment, which allows us to analyze acquisition outcomes with greater depth and reliability.
Can I list my SaaS business at a price above the average multiple?
Yes. The reported multiples reflect where most deals tend to close, not a hard cap. Businesses with strong fundamentals, such as high profitability, retention, or scale,e may transact above these ranges. That said, listings priced closer to market norms generally attract broader buyer interest.
Is revenue still a factor in valuations?
Yes. The valuation metric buyers use depends on how a business is performing. High-growth companies reinvesting heavily into expansion may be valued on revenue, while most profitable SaaS businesses are typically evaluated using profit-based multiples.
I’m not making any profit at the moment. Can I still sell my business?
It’s possible, but buyer demand is generally stronger for profitable businesses. Unprofitable listings may take longer to sell and attract fewer offers. In many cases, waiting until profitability can improve both interest and outcomes.
Can I apply the multiple to a profit forecast?
Buyers typically value businesses based on current performance rather than projected results. While forecasts may provide context, acquisition pricing is usually anchored to verified, historical financials.
How can I increase my valuation?
Valuation is influenced by two main factors: financial performance and buyer demand. Improving profitability through revenue growth or cost control is often the most direct lever. Buyer interest can also be shaped by preparation, positioning, and how clearly the business is presented to the market.
How does the multiple affect the terms of an acquisition?
Valuation and deal structure are closely linked. Higher multiples may involve conditions such as earnouts or seller financing, while all-cash deals often trade simplicity for a lower headline price. The right balance depends on the founder’s goals and risk preferences.
Where can I get help selling my SaaS startup?
Acquire provides acquisition guidance as part of the selling process. For eligible businesses, additional advisory support may be available through Guided by Acquire, which offers more hands-on assistance throughout the transaction.
Why should I care about anything other than the price?
Price is only one part of an acquisition. Deal terms such as cash at closing, transition periods, and post-closing conditions directly affect flexibility and risk after the sale. Considering price and terms together helps align the outcome with your post-acquisition goals.