Cloud Q1 Update: When Will the QoQ Decel Find a Bottom?

To help illustrate how the deceleration has continued for some best-of-breed names, we took a sample of the top-ranking cloud stocks on revenue growth, free cash flow, adjusted operating margin and/or valuations. Among the best-of-breed cloud stocks, only MongoDB’s guide shows sequential growth. The company’s QoQ growth was 6% last year and is expected to be 7% this year. The largest deceleration was in HashiCorp, which grew 13% last year and is expected to have flat 0% sequential growth this year.

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