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Software & Cloud Platforms

Software & Cloud Platforms

Part of the Technology sector

20 Knowledge Items
405 Companies

Key Principles

5

Core investment principles and frameworks for this industry

AI Monetization Must Show in Usage or ARPU

AI features should be tied to paid seats, consumption, attach rates, or higher ARPU rather than only product announcements. Separate copilots that lift retention or usage from AI demos that add compute cost without pricing power.

Cloud Infrastructure Cost Discipline

Gross margin durability depends on hosting architecture, model inference costs, database workload efficiency, and vendor concentration with AWS, Azure, or Google Cloud. AI-heavy products need evidence that compute cost scales slower than revenue.

GAAP to Cash Quality Matters

US software often screens well on adjusted operating margin while stock-based compensation, capitalized software, commissions, and deferred revenue changes tell a different story. Free cash flow quality should be reconciled to GAAP operating income and dilution.

Net Revenue Retention Is the First Moat Check

For US cloud software, durable value shows up in net revenue retention after downgrades, churn, and seat compression. NRR above 115% usually signals real expansion power; NRR falling toward 100% means growth is increasingly dependent on new logo acquisition and sales efficiency.

Platform Consolidation Beats Point-Tool Growth

Enterprise buyers are consolidating vendors around identity, data, workflow, security, and developer platforms. A stronger software thesis explains why the company becomes a system of record or workflow hub instead of another feature vendor exposed to bundling pressure.

Current Trends

5

Active trends shaping the industry landscape

Agentic Workflow Adoption

The next software cycle is moving from dashboards to workflow automation and AI agents. Watch whether customers move core tasks into the platform, whether usage expands across departments, and whether the vendor controls proprietary workflow context.

Consumption Normalization

Cloud and data-platform growth can decelerate when customers optimize workloads. A recovery should be visible in stabilized consumption, committed remaining performance obligations, and management commentary about optimization headwinds fading.

Enterprise Procurement Scrutiny

CFO-led vendor rationalization is pressuring seat expansion and renewal pricing. Evidence of resilience includes multi-product adoption, mission-critical workflows, longer contract terms, and stable gross retention.

Security, Data, and Identity Bundling

Large platforms are bundling security, data governance, identity, and observability into broader suites. Point products need a clear reason to avoid compression from Microsoft, Google, Salesforce, ServiceNow, or hyperscaler bundles.

Vertical AI Applications

Software vendors with domain-specific data, regulated workflows, or embedded distribution can monetize AI faster than horizontal tools. Track healthcare, finance, legal, industrial, and customer-service use cases separately from generic productivity claims.

Catalysts & Inflection Points

5

Events and factors that could trigger significant change

AI Price Packaging Change

Moving from free AI features to paid add-ons, consumption tiers, or premium SKUs can reset revenue expectations. The catalyst is stronger when attach rates and gross margin impact are disclosed clearly.

M&A or Activist Pressure

Large software names with sticky customers but weak growth can attract activist pressure or strategic buyers. A catalyst view should quantify valuation support, integration risk, product overlap, and antitrust constraints.

Major Platform Release

A credible platform release can expand TAM if it moves the company into adjacent budgets such as data, workflow, security, analytics, or developer tools. Validate through early customer adoption, not launch-event language.

Operating Margin Reset

Software equities can re-rate when management proves it can grow while expanding operating margin. Watch sales productivity, R&D prioritization, SBC discipline, and whether margin gains are structural rather than hiring pauses.

RPO or CRPO Reacceleration

A turn in remaining performance obligations or current RPO is often an early signal that bookings are improving before revenue reaccelerates. This is especially powerful when billings, pipeline commentary, and sales-cycle duration all confirm it.

Key Metrics to Watch

5

Critical financial and operational metrics for evaluation

Gross Margin and Compute Cost

Gross margin should be tracked alongside cloud hosting, AI inference, support, and professional-services mix. AI products with poor unit cost discipline can dilute margins even while raising revenue growth.

NRR and Gross Retention

Track net revenue retention, gross retention, downgrade pressure, and churn by customer cohort where disclosed. NRR without strong gross retention can hide heavy dependence on a small group of expansion customers.

RPO, Billings, and Backlog

Revenue growth should be checked against billings, RPO, CRPO, deferred revenue, and contract duration. These metrics help separate real demand from billing-term changes or accounting noise.

Sales Efficiency and CAC Payback

Magic number, CAC payback, sales and marketing as a percentage of revenue, and new ARR per sales rep show whether growth is being purchased inefficiently. Deterioration is an early warning before revenue slows.

SBC, Dilution, and Free Cash Flow

Free cash flow should be adjusted for stock-based compensation and share dilution. A software company that reports high FCF while share count compounds quickly may not be creating per-share value.

Companies in Software & Cloud Platforms

CompanyExchangeTicker

Platinum Analytics Cayman Limited - Class A Ordinary Shares

NASDAQ:PLTS

NASDAQ

PLTS

Dayforce, Inc. Common Stock

NYSE:DAY

NYSE

DAY

SEMrush Holdings, Inc. Class A Common Stock

NYSE:SEMR

NYSE

SEMR

BIO-key International, Inc. - Common Stock

NASDAQ:BKYI

NASDAQ

BKYI

Confluent, Inc. - Class A Common Stock

NASDAQ:CFLT

NASDAQ

CFLT

CSG Systems International, Inc. - Common Stock

NASDAQ:CSGS

NASDAQ

CSGS

8x8 Inc - Common stock

NASDAQ:EGHT

NASDAQ

EGHT

Jamf Holding Corp. - Common Stock

NASDAQ:JAMF

NASDAQ

JAMF

WM Technology, Inc. - Class A Common Stock

NASDAQ:MAPS

NASDAQ

MAPS

OneStream, Inc. - Class A Common Stock

NASDAQ:OS

NASDAQ

OS

Synchronoss Technologies, Inc. - Common Stock

NASDAQ:SNCR

NASDAQ

SNCR

Urgent.ly Inc. - Common Stock

NASDAQ:ULY

NASDAQ

ULY

The Glimpse Group, Inc. - Common Stock

NASDAQ:VRAR

NASDAQ

VRAR

SCWorx Corp. - Common Stock

NASDAQ:WORX

NASDAQ

WORX

Zenvia Inc. - Class A Common Stock

NASDAQ:ZENV

NASDAQ

ZENV

TechCreate Group Ltd. Class A Ordinary Shares

AMEX:TCGL

AMEX

TCGL

zSpace, Inc. - Common stock

NASDAQ:ZSPC

NASDAQ

ZSPC

ON24, Inc. Common Stock

NYSE:ONTF

NYSE

ONTF

Robot Consulting Co., Ltd. - ADS

NASDAQ:LAWR

NASDAQ

LAWR

Alphabet Inc. - Class A Common Stock

NASDAQ:GOOGL

NASDAQ

GOOGL

Alphabet Inc. - Class C Capital Stock

NASDAQ:GOOG

NASDAQ

GOOG

Microsoft Corporation - Common Stock

NASDAQ:MSFT

NASDAQ

MSFT

Amazon.com, Inc. - Common Stock

NASDAQ:AMZN

NASDAQ

AMZN

Meta Platforms, Inc. - Class A Common Stock

NASDAQ:META

NASDAQ

META

Oracle Corporation Common Stock

NYSE:ORCL

NYSE

ORCL

Palantir Technologies Inc. - Class A Common Stock

NASDAQ:PLTR

NASDAQ

PLTR

SAP SE ADS

NYSE:SAP

NYSE

SAP

Salesforce, Inc. Common Stock

NYSE:CRM

NYSE

CRM

ServiceNow, Inc. Common Stock

NYSE:NOW

NYSE

NOW

Cadence Design Systems, Inc. - Common Stock

NASDAQ:CDNS

NASDAQ

CDNS

Adobe Inc. - Common Stock

NASDAQ:ADBE

NASDAQ

ADBE

Synopsys, Inc. - Common Stock

NASDAQ:SNPS

NASDAQ

SNPS

Datadog, Inc. - Class A Common Stock

NASDAQ:DDOG

NASDAQ

DDOG

Snowflake Inc. Common Stock

NYSE:SNOW

NYSE

SNOW

Intuit Inc. - Common Stock

NASDAQ:INTU

NASDAQ

INTU

Nebius Group N.V. - Class A Ordinary Shares

NASDAQ:NBIS

NASDAQ

NBIS

CoreWeave, Inc. - Class A Common Stock

NASDAQ:CRWV

NASDAQ

CRWV

Autodesk, Inc. - Common Stock

NASDAQ:ADSK

NASDAQ

ADSK

Baidu, Inc. - American Depositary Shares, each representing 8 ordinary share

NASDAQ:BIDU

NASDAQ

BIDU

Workday, Inc. - Class A Common Stock

NASDAQ:WDAY

NASDAQ

WDAY

Twilio Inc. Class A Common Stock

NYSE:TWLO

NYSE

TWLO

Roper Technologies, Inc. - Common Stock

NASDAQ:ROP

NASDAQ

ROP

Reddit, Inc. Class A Common Stock

NYSE:RDDT

NYSE

RDDT

Zoom Communications, Inc. - Class A Common Stock

NASDAQ:ZM

NASDAQ

ZM

Veeva Systems Inc. Class A Common Stock

NYSE:VEEV

NYSE

VEEV

MongoDB, Inc. - Class A Common Stock

NASDAQ:MDB

NASDAQ

MDB

VeriSign, Inc. - Common Stock

NASDAQ:VRSN

NASDAQ

VRSN

Atlassian Corporation - Class A Common Stock

NASDAQ:TEAM

NASDAQ

TEAM

Verisk Analytics, Inc. - Common Stock

NASDAQ:VRSK

NASDAQ

VRSK

IonQ, Inc. Common Stock

NYSE:IONQ

NYSE

IONQ

Samsara Inc. Class A Common Stock

NYSE:IOT

NYSE

IOT

DigitalOcean Holdings, Inc. Common Stock

NYSE:DOCN

NYSE

DOCN

SS&C Technologies Holdings, Inc. - Common Stock

NASDAQ:SSNC

NASDAQ

SSNC

PTC Inc. - Common Stock

NASDAQ:PTC

NASDAQ

PTC

Gen Digital Inc. - Common Stock

NASDAQ:GEN

NASDAQ

GEN

Rubrik, Inc. Class A Common Stock

NYSE:RBRK

NYSE

RBRK

Nutanix, Inc. - Class A Common Stock

NASDAQ:NTNX

NASDAQ

NTNX

Toast, Inc. Class A Common Stock

NYSE:TOST

NYSE

TOST

Tyler Technologies, Inc. Common Stock

NYSE:TYL

NYSE

TYL

Unity Software Inc. Common Stock

NYSE:U

NYSE

U

Trimble Inc. - Common Stock

NASDAQ:TRMB

NASDAQ

TRMB

Aurora Innovation, Inc. - Class A Common Stock

NASDAQ:AUR

NASDAQ

AUR

Dynatrace, Inc. Common Stock

NYSE:DT

NYSE

DT

Pinterest, Inc. Class A Common Stock

NYSE:PINS

NYSE

PINS

Guidewire Software, Inc. Common Stock

NYSE:GWRE

NYSE

GWRE

Figma, Inc. Class A Common Stock

NYSE:FIG

NYSE

FIG

GoDaddy Inc. Class A Common Stock

NYSE:GDDY

NYSE

GDDY

HubSpot, Inc. Common Stock

NYSE:HUBS

NYSE

HUBS

SailPoint, Inc. - Common Stock

NASDAQ:SAIL

NASDAQ

SAIL

JFrog Ltd. - Ordinary shares

NASDAQ:FROG

NASDAQ

FROG

Bentley Systems, Incorporated - Class B Common Stock

NASDAQ:BSY

NASDAQ

BSY

Snap Inc. Class A Common Stock

NYSE:SNAP

NYSE

SNAP

The Trade Desk, Inc. - Class A Common Stock

NASDAQ:TTD

NASDAQ

TTD

DocuSign, Inc. - Common Stock

NASDAQ:DOCU

NASDAQ

DOCU

Jack Henry & Associates, Inc. - Common Stock

NASDAQ:JKHY

NASDAQ

JKHY

Full Truck Alliance Co. Ltd. American Depositary Shares (each representing 20 Class A Ordinary Shares)

NYSE:YMM

NYSE

YMM

D-Wave Quantum Inc. Common Shares

NYSE:QBTS

NYSE

QBTS

Manhattan Associates, Inc. - Common Stock

NASDAQ:MANH

NASDAQ

MANH

Tempus AI, Inc. - Class A Common Stock

NASDAQ:TEM

NASDAQ

TEM

Match Group, Inc. - Common Stock

NASDAQ:MTCH

NASDAQ

MTCH

Mobileye Global Inc. - Class A Common Stock

NASDAQ:MBLY

NASDAQ

MBLY

Procore Technologies, Inc. Common Stock

NYSE:PCOR

NYSE

PCOR

ServiceTitan, Inc. - Class A Common Stock

NASDAQ:TTAN

NASDAQ

TTAN

Clear Secure, Inc. Class A Common Stock

NYSE:YOU

NYSE

YOU

Clearwater Analytics Holdings, Inc. Class A Common Stock

NYSE:CWAN

NYSE

CWAN

Bilibili Inc. - American Depositary Shares

NASDAQ:BILI

NASDAQ

BILI

Rigetti Computing, Inc. - Common stock

NASDAQ:RGTI

NASDAQ

RGTI

Paycom Software, Inc. Common Stock

NYSE:PAYC

NYSE

PAYC

Amdocs Limited - Ordinary Shares

NASDAQ:DOX

NASDAQ

DOX

KANZHUN LIMITED - American Depository Shares

NASDAQ:BZ

NASDAQ

BZ

The Descartes Systems Group Inc. - Common Stock

NASDAQ:DSGX

NASDAQ

DSGX

Elastic N.V. Ordinary Shares

NYSE:ESTC

NYSE

ESTC

Dropbox, Inc. - Class A Common Stock

NASDAQ:DBX

NASDAQ

DBX

Paylocity Holding Corporation - Common Stock

NASDAQ:PCTY

NASDAQ

PCTY

AppFolio, Inc. - Class A Common Stock

NASDAQ:APPF

NASDAQ

APPF

UiPath, Inc. Class A Common Stock

NYSE:PATH

NYSE

PATH

Pegasystems Inc. - Common Stock

NASDAQ:PEGA

NASDAQ

PEGA

Open Text Corporation - Common Shares

NASDAQ:OTEX

NASDAQ

OTEX

NICE Ltd - American Depositary Shares each representing one Ordinary Share

NASDAQ:NICE

NASDAQ

NICE

Zeta Global Holdings Corp. Class A Common Stock

NYSE:ZETA

NYSE

ZETA

Global-E Online Ltd. - ordinary shares

NASDAQ:GLBE

NASDAQ

GLBE

BlackBerry Limited Common Stock

NYSE:BB

NYSE

BB

Navan, Inc. - Class A Common Stock

NASDAQ:NAVN

NASDAQ

NAVN

GitLab Inc. - Class A Common Stock

NASDAQ:GTLB

NASDAQ

GTLB

EPAM Systems, Inc. Common Stock

NYSE:EPAM

NYSE

EPAM

Dolby Laboratories Common Stock

NYSE:DLB

NYSE

DLB

Duolingo, Inc. - Class A Common Stock

NASDAQ:DUOL

NASDAQ

DUOL

Hinge Health, Inc. Class A Common Stock

NYSE:HNGE

NYSE

HNGE

Commvault Systems, Inc. - Common Stock

NASDAQ:CVLT

NASDAQ

CVLT

Klaviyo, Inc. Series A Common Stock

NYSE:KVYO

NYSE

KVYO

ACI Worldwide, Inc. - Common Stock

NASDAQ:ACIW

NASDAQ

ACIW

Sportradar Group AG - Class A Ordinary Shares

NASDAQ:SRAD

NASDAQ

SRAD

monday.com Ltd. - Ordinary Shares

NASDAQ:MNDY

NASDAQ

MNDY

Waystar Holding Corp. - Common Stock

NASDAQ:WAY

NASDAQ

WAY

Doximity, Inc. Class A Common Stock

NYSE:DOCS

NYSE

DOCS

Box, Inc. Class A Common Stock

NYSE:BOX

NYSE

BOX

Pony AI Inc. - American Depositary Shares

NASDAQ:PONY

NASDAQ

PONY

Life360, Inc. - Common Stock

NASDAQ:LIF

NASDAQ

LIF

RingCentral, Inc. Class A Common Stock

NYSE:RNG

NYSE

RNG

BILL Holdings, Inc. Common Stock

NYSE:BILL

NYSE

BILL

Kingsoft Cloud Holdings Limited - American Depositary Shares

NASDAQ:KC

NASDAQ

KC

Cellebrite DI Ltd. - Ordinary Shares

NASDAQ:CLBT

NASDAQ

CLBT

JOYY Inc. - American Depositary Shares

NASDAQ:JOYY

NASDAQ

JOYY

Innodata Inc. - Common Stock

NASDAQ:INOD

NASDAQ

INOD

Rumble Inc. - Class A Common Stock

NASDAQ:RUM

NASDAQ

RUM

SoundHound AI, Inc. - Class A Common Stock

NASDAQ:SOUN

NASDAQ

SOUN

Teradata Corporation Common Stock

NYSE:TDC

NYSE

TDC

Cheetah Mobile Inc. American Depositary Shares, each representing fifty (50) Class A Ordinary Shares

NYSE:CMCM

NYSE

CMCM

NetScout Systems, Inc. - Common Stock

NASDAQ:NTCT

NASDAQ

NTCT

Wix.com Ltd. - Ordinary Shares

NASDAQ:WIX

NASDAQ

WIX

Q2 Holdings, Inc. Common Stock

NYSE:QTWO

NYSE

QTWO

Braze, Inc. - Class A Common Stock

NASDAQ:BRZE

NASDAQ

BRZE

Fastly, Inc. - Class A Common Stock

NASDAQ:FSLY

NASDAQ

FSLY

Workiva Inc. Class A Common Stock

NYSE:WK

NYSE

WK

CCC Intelligent Solutions Holdings Inc. - Common Stock

NASDAQ:CCC

NASDAQ

CCC

First Advantage Corporation - Common Stock

NASDAQ:FA

NASDAQ

FA

Freshworks Inc. - Class A Common Stock

NASDAQ:FRSH

NASDAQ

FRSH

StoneCo Ltd. - Class A Common Share

NASDAQ:STNE

NASDAQ

STNE

Agilysys, Inc. - Common Stock

NASDAQ:AGYS

NASDAQ

AGYS

PagSeguro Digital Ltd. Class A Common Shares

NYSE:PAGS

NYSE

PAGS

Nayax Ltd. - Ordinary Shares

NASDAQ:NYAX

NASDAQ

NYAX

CarGurus, Inc. - Class A Common Stock

NASDAQ:CARG

NASDAQ

CARG

Bandwidth Inc. - Class A Common Stock

NASDAQ:BAND

NASDAQ

BAND

Trump Media & Technology Group Corp. - Common Stock

NASDAQ:DJT

NASDAQ

DJT

AvePoint, Inc. - Class A Common Stock

NASDAQ:AVPT

NASDAQ

AVPT

Quantum Computing Inc. - Common Stock

NASDAQ:QUBT

NASDAQ

QUBT

LiveRamp Holdings, Inc. Common Stock

NYSE:RAMP

NYSE

RAMP

Alarm.com Holdings, Inc. - Common Stock

NASDAQ:ALRM

NASDAQ

ALRM

WeRide Inc. - American Depositary Shares

NASDAQ:WRD

NASDAQ

WRD

ePlus inc. - Common Stock

NASDAQ:PLUS

NASDAQ

PLUS

Vertex, Inc. - Class A Common Stock

NASDAQ:VERX

NASDAQ

VERX

Magnite, Inc. - Common Stock

NASDAQ:MGNI

NASDAQ

MGNI

PDF Solutions, Inc. - Common Stock

NASDAQ:PDFS

NASDAQ

PDFS

SPS Commerce, Inc. - Common Stock

NASDAQ:SPSC

NASDAQ

SPSC

BigBear.ai, Inc. Common Stock

NYSE:BBAI

NYSE

BBAI

Formula Systems (1985) Ltd. - American Depositary Shares

NASDAQ:FORTY

NASDAQ

FORTY

Grindr Inc. Common Stock

NYSE:GRND

NYSE

GRND

Autohome Inc. American Depositary Shares, each representing four class A ordinary shares.

NYSE:ATHM

NYSE

ATHM

Weibo Corporation - American Depositary Shares

NASDAQ:WB

NASDAQ

WB

Intapp, Inc. - Common Stock

NASDAQ:INTA

NASDAQ

INTA

Appian Corporation - Class A Common Stock

NASDAQ:APPN

NASDAQ

APPN

Asana, Inc. Class A Common Stock

NYSE:ASAN

NYSE

ASAN

PC Connection, Inc. - Common Stock

NASDAQ:CNXN

NASDAQ

CNXN

Five9, Inc. - Common Stock

NASDAQ:FIVN

NASDAQ

FIVN

Alkami Technology, Inc. - Common Stock

NASDAQ:ALKT

NASDAQ

ALKT

BlackLine, Inc. - Common Stock

NASDAQ:BL

NASDAQ

BL

Globant S.A. Common Shares

NYSE:GLOB

NYSE

GLOB

Marqeta, Inc. - Class A Common Stock

NASDAQ:MQ

NASDAQ

MQ

EverCommerce Inc. - Common Stock

NASDAQ:EVCM

NASDAQ

EVCM

Opera Limited - American Depositary Shares

NASDAQ:OPRA

NASDAQ

OPRA

nCino, Inc. - Common Stock

NASDAQ:NCNO

NASDAQ

NCNO

DoubleVerify Holdings, Inc. Common Stock

NYSE:DV

NYSE

DV

Clarivate Plc Ordinary Shares

NYSE:CLVT

NYSE

CLVT

C3.ai, Inc. Class A Common Stock

NYSE:AI

NYSE

AI

DXC Technology Company Common Stock

NYSE:DXC

NYSE

DXC

Xunlei Limited - American Depositary Shares

NASDAQ:XNET

NASDAQ

XNET

Karooooo Ltd. - Ordinary shares

NASDAQ:KARO

NASDAQ

KARO

Evertec, Inc. Common Stock

NYSE:EVTC

NYSE

EVTC

Progress Software Corporation - Common Stock

NASDAQ:PRGS

NASDAQ

PRGS

Blackbaud, Inc. - Common Stock

NASDAQ:BLKB

NASDAQ

BLKB

Lightspeed Commerce Inc. Subordinate Voting Shares

NYSE:LSPD

NYSE

LSPD

Kodiak AI, Inc. - Common Stock

NASDAQ:KDK

NASDAQ

KDK

Taboola.com Ltd. - Ordinary Shares

NASDAQ:TBLA

NASDAQ

TBLA

Sprinklr, Inc. Class A Common Stock

NYSE:CXM

NYSE

CXM

CEVA, Inc. - Common Stock

NASDAQ:CEVA

NASDAQ

CEVA

Exzeo Group, Inc. Common Stock

NYSE:XZO

NYSE

XZO

Tuya Inc. American Depositary Shares, each representing one Class A Ordinary Share

NYSE:TUYA

NYSE

TUYA

Via Transportation, Inc. Class A Common Stock

NYSE:VIA

NYSE

VIA

Rackspace Technology, Inc. - Common Stock

NASDAQ:RXT

NASDAQ

RXT

Mega Fortune Company Limited - Ordinary Shares

NASDAQ:MGRT

NASDAQ

MGRT

Upwork Inc. - Common Stock

NASDAQ:UPWK

NASDAQ

UPWK

Digital Turbine, Inc. - Common Stock

NASDAQ:APPS

NASDAQ

APPS

Sify Technologies Limited - American Depository Shares

NASDAQ:SIFY

NASDAQ

SIFY

Amplitude, Inc. - Class A Common Stock

NASDAQ:AMPL

NASDAQ

AMPL

LegalZoom.com, Inc. - Common Stock

NASDAQ:LZ

NASDAQ

LZ

ScanSource, Inc. - Common Stock

NASDAQ:SCSC

NASDAQ

SCSC

Rezolve AI PLC - Ordinary Shares

NASDAQ:RZLV

NASDAQ

RZLV

Coursera, Inc. Common Stock

NYSE:COUR

NYSE

COUR

GoodRx Holdings, Inc. - Class A Common Stock

NASDAQ:GDRX

NASDAQ

GDRX

ZoomInfo Technologies Inc. - Common Stock

NASDAQ:GTM

NASDAQ

GTM

Certara, Inc. - Common Stock

NASDAQ:CERT

NASDAQ

CERT

Hello Group Inc. - American Depositary Shares

NASDAQ:MOMO

NASDAQ

MOMO

Yalla Group Limited American Depositary Shares, each representing one Class A Ordinary Share

NYSE:YALA

NYSE

YALA

Viant Technology Inc. - common stock

NASDAQ:DSP

NASDAQ

DSP

Nextdoor Holdings, Inc. Class A Common Stock

NYSE:NXDR

NYSE

NXDR

Red Violet, Inc. - Common Stock

NASDAQ:RDVT

NASDAQ

RDVT

HealthStream, Inc. - Common Stock

NASDAQ:HSTM

NASDAQ

HSTM

PagerDuty, Inc. Common Stock

NYSE:PD

NYSE

PD

N-able, Inc. Common Stock

NYSE:NABL

NYSE

NABL

VTEX Class A Common Shares

NYSE:VTEX

NYSE

VTEX

EverQuote, Inc. - Class A Common Stock

NASDAQ:EVER

NASDAQ

EVER

Sabre Corporation - Common Stock

NASDAQ:SABR

NASDAQ

SABR

Cognyte Software Ltd. - Ordinary Shares

NASDAQ:CGNT

NASDAQ

CGNT

Consensus Cloud Solutions, Inc. - Common Stock

NASDAQ:CCSI

NASDAQ

CCSI

BTQ Technologies Corp. - Common Stock

NASDAQ:BTQ

NASDAQ

BTQ

Nexxen International Ltd. - Ordinary Shares

NASDAQ:NEXN

NASDAQ

NEXN

HUYA Inc. American depositary shares, each representing one Class A ordinary share

NYSE:HUYA

NYSE

HUYA

i3 Verticals, Inc. - Common Stock

NASDAQ:IIIV

NASDAQ

IIIV

Grid Dynamics Holdings, Inc. - Class A Common Stock

NASDAQ:GDYN

NASDAQ

GDYN

PubMatic, Inc. - Class A Common Stock

NASDAQ:PUBM

NASDAQ

PUBM

OneSpan Inc. - Common Stock

NASDAQ:OSPN

NASDAQ

OSPN

NerdWallet, Inc. - Class A Common Stock

NASDAQ:NRDS

NASDAQ

NRDS

CI&T Inc Class A Common Shares

NYSE:CINT

NYSE

CINT

Cars.com Inc. Common Stock

NYSE:CARS

NYSE

CARS

Cerence Inc. - Common Stock

NASDAQ:CRNC

NASDAQ

CRNC

Ooma, Inc. Common Stock

NYSE:OOMA

NYSE

OOMA

Gorilla Technology Group Inc. - Ordinary shares

NASDAQ:GRRR

NASDAQ

GRRR

ECARX Holdings Inc. - Class A Ordinary shares

NASDAQ:ECX

NASDAQ

ECX

Backblaze, Inc. - Common Stock

NASDAQ:BLZE

NASDAQ

BLZE

Weave Communications, Inc. Common Stock

NYSE:WEAV

NYSE

WEAV

Climb Global Solutions, Inc. - Common Stock

NASDAQ:CLMB

NASDAQ

CLMB

Docebo Inc. - Common Shares

NASDAQ:DCBO

NASDAQ

DCBO

Gloo Holdings, Inc. - Common Stock

NASDAQ:GLOO

NASDAQ

GLOO

mF International Limited - Class A Ordinary Shares

NASDAQ:MFI

NASDAQ

MFI

Sprout Social, Inc - Class A Common Stock

NASDAQ:SPT

NASDAQ

SPT

Agora, Inc. - ADS

NASDAQ:API

NASDAQ

API

TruBridge, Inc. - Common Stock

NASDAQ:TBRG

NASDAQ

TBRG

Materialise NV - American Depositary Shares

NASDAQ:MTLS

NASDAQ

MTLS

Blend Labs, Inc. Class A Common Stock

NYSE:BLND

NYSE

BLND

Yext, Inc. Common Stock

NYSE:YEXT

NYSE

YEXT

Bumble Inc. - common stock

NASDAQ:BMBL

NASDAQ

BMBL

Silvaco Group, Inc. - Common Stock

NASDAQ:SVCO

NASDAQ

SVCO

Similarweb Ltd. Ordinary Shares

NYSE:SMWB

NYSE

SMWB

SOPHiA GENETICS SA - Ordinary Shares

NASDAQ:SOPH

NASDAQ

SOPH

Xperi Inc. Common Stock

NYSE:XPER

NYSE

XPER

MMTec, Inc. - Common Shares

NASDAQ:MTC

NASDAQ

MTC

Sohu.com Limited - American Depositary Shares

NASDAQ:SOHU

NASDAQ

SOHU

Duos Technologies Group, Inc. - Common Stock

NASDAQ:DUOT

NASDAQ

DUOT

Palladyne AI Corp. - Common stock

NASDAQ:PDYN

NASDAQ

PDYN

Simulations Plus, Inc. - Common Stock

NASDAQ:SLP

NASDAQ

SLP

Telos Corporation - Common Stock

NASDAQ:TLS

NASDAQ

TLS

Perion Network Ltd - Ordinary Shares

NASDAQ:PERI

NASDAQ

PERI

Digimarc Corporation - Common Stock

NASDAQ:DMRC

NASDAQ

DMRC

Unisys Corporation New Common Stock

NYSE:UIS

NYSE

UIS

Yimutian Inc. - American Depositary Shares; each representing 25 Class A ordinary shares

NASDAQ:YMT

NASDAQ

YMT

Arqit Quantum Inc. - Ordinary Shares

NASDAQ:ARQQ

NASDAQ

ARQQ

ZipRecruiter, Inc. Class A Common Stock

NYSE:ZIP

NYSE

ZIP

Asure Software Inc - Common Stock

NASDAQ:ASUR

NASDAQ

ASUR

CS Disco, Inc. Common Stock

NYSE:LAW

NYSE

LAW

Commerce.com, Inc. - Series 1 Common Stock

NASDAQ:CMRC

NASDAQ

CMRC

OBOOK Holdings Inc. - Class A Common Shares

NASDAQ:OWLS

NASDAQ

OWLS

Alpha Technology Group Limited - Class A Ordinary Shares

NASDAQ:ATGL

NASDAQ

ATGL

SmartRent, Inc. Class A Common Stock

NYSE:SMRT

NYSE

SMRT

Kaltura, Inc. - Common Stock

NASDAQ:KLTR

NASDAQ

KLTR

Inspired Entertainment, Inc. - Common Stock

NASDAQ:INSE

NASDAQ

INSE

eGain Corporation - Common Stock

NASDAQ:EGAN

NASDAQ

EGAN

So-Young International Inc. - American Depository Shares

NASDAQ:SY

NASDAQ

SY

ReposiTrak, Inc. Common Stock

NYSE:TRAK

NYSE

TRAK

Perfect Corp. Class A Ordinary Share

NYSE:PERF

NYSE

PERF

Veritone, Inc. - Common Stock

NASDAQ:VERI

NASDAQ

VERI

Domo, Inc. - Class B Common Stock

NASDAQ:DOMO

NASDAQ

DOMO

Endava plc American Depositary Shares (each representing one Class A Ordinary Share)

NYSE:DAVA

NYSE

DAVA

DouYu International Holdings Limited - American Depositary Shares

NASDAQ:DOYU

NASDAQ

DOYU

Tucows Inc. - Common Stock

NASDAQ:TCX

NASDAQ

TCX

Brand Engagement Network Inc. - Common Stock

NASDAQ:BNAI

NASDAQ

BNAI

Health Catalyst, Inc - Common stock

NASDAQ:HCAT

NASDAQ

HCAT

CTW Cayman - Class A Ordinary Shares

NASDAQ:CTW

NASDAQ

CTW

VisionWave Holdings, Inc. - Common Stock

NASDAQ:VWAV

NASDAQ

VWAV

Definitive Healthcare Corp. - Class A Common Stock

NASDAQ:DH

NASDAQ

DH

NETCLASS TECHNOLOGY INC - Class A Ordinary Shares

NASDAQ:NTCL

NASDAQ

NTCL

Next Technology Holding Inc. - Ordinary Shares

NASDAQ:NXTT

NASDAQ

NXTT

Teads Holding Co. - Common Stock

NASDAQ:TEAD

NASDAQ

TEAD

ZenaTech, Inc. - Common Stock

NASDAQ:ZENA

NASDAQ

ZENA

Sangoma Technologies Corporation - Common Shares

NASDAQ:SANG

NASDAQ

SANG

Expensify, Inc. - Class A Common Stock

NASDAQ:EXFY

NASDAQ

EXFY

WidePoint Corporation Common Stock

AMEX:WYY

AMEX

WYY

Rekor Systems, Inc. - Common Stock

NASDAQ:REKR

NASDAQ

REKR

CareCloud, Inc. - Common Stock

NASDAQ:CCLD

NASDAQ

CCLD

Arbe Robotics Ltd. - Ordinary Shares

NASDAQ:ARBE

NASDAQ

ARBE

SoundThinking, Inc. - Common Stock

NASDAQ:SSTI

NASDAQ

SSTI

Airship AI Holdings, Inc - Class A Common Stock

NASDAQ:AISP

NASDAQ

AISP

Smith Micro Software, Inc. - Common Stock

NASDAQ:SMSI

NASDAQ

SMSI

CSP Inc. - Common Stock

NASDAQ:CSPI

NASDAQ

CSPI

WISeKey International Holding Ltd - American Depositary Shares

NASDAQ:WKEY

NASDAQ

WKEY

GIBO Holdings Limited - Class A Ordinary Shares

NASDAQ:GIBO

NASDAQ

GIBO

Datacentrex, Inc. - Common Stock

NASDAQ:DTCX

NASDAQ

DTCX

FatPipe, Inc. - common stock

NASDAQ:FATN

NASDAQ

FATN

Intellicheck, Inc. - Common Stock

NASDAQ:IDN

NASDAQ

IDN

AudioEye, Inc. - Common Stock

NASDAQ:AEYE

NASDAQ

AEYE

Lucas GC Limited - Class A Ordinary Shares

NASDAQ:LGCL

NASDAQ

LGCL

Stem, Inc. Class A Common Stock

NYSE:STEM

NYSE

STEM

Odysight.ai Inc. - Common Stock

NASDAQ:ODYS

NASDAQ

ODYS

Marchex, Inc. - Class B Common Stock

NASDAQ:MCHX

NASDAQ

MCHX

Alarum Technologies Ltd. - American Depositary Shares

NASDAQ:ALAR

NASDAQ

ALAR

Skillsoft Corp. Class A Common Stock

NYSE:SKIL

NYSE

SKIL

MicroAlgo, Inc. - Ordinary Shares

NASDAQ:MLGO

NASDAQ

MLGO

GCL Global Holdings Ltd - Ordinary Shares

NASDAQ:GCL

NASDAQ

GCL

SuperCom, Ltd. - Ordinary Shares

NASDAQ:SPCB

NASDAQ

SPCB

Gamehaus Holdings Inc. - Class A Ordinary Shares

NASDAQ:GMHS

NASDAQ

GMHS

NETSOL Technologies Inc. - Common Stock

NASDAQ:NTWK

NASDAQ

NTWK

Sound Group Inc. - American Depositary Shares

NASDAQ:SOGP

NASDAQ

SOGP

Where Food Comes From, Inc. - Common Stock

NASDAQ:WFCF

NASDAQ

WFCF

Scienjoy Holding Corporation - Class A Ordinary Shares

NASDAQ:SJ

NASDAQ

SJ

FingerMotion, Inc. - common stock

NASDAQ:FNGR

NASDAQ

FNGR

Creative Realities, Inc. - Common Stock

NASDAQ:CREX

NASDAQ

CREX

Zedge, Inc. Class B Common Stock

AMEX:ZDGE

AMEX

ZDGE

Phunware, Inc. - Common Stock

NASDAQ:PHUN

NASDAQ

PHUN

MicroCloud Hologram Inc. - Ordinary Shares

NASDAQ:HOLO

NASDAQ

HOLO

Aether Holdings, Inc. - Common Stock

NASDAQ:ATHR

NASDAQ

ATHR

Fusemachines Inc. - Common stock

NASDAQ:FUSE

NASDAQ

FUSE

Movano Inc. - Common Stock

NASDAQ:MOVE

NASDAQ

MOVE

Helport AI Limited - Ordinary Shares

NASDAQ:HPAI

NASDAQ

HPAI

Cardlytics, Inc. - Common Stock

NASDAQ:CDLX

NASDAQ

CDLX

Aurora Mobile Limited - American Depositary Shares

NASDAQ:JG

NASDAQ

JG

Snail, Inc. - Class A Common Stock

NASDAQ:SNAL

NASDAQ

SNAL

Ruanyun Edai Technology Inc. - Ordinary shares

NASDAQ:RYET

NASDAQ

RYET

System1, Inc. Class A Common Stock

NYSE:SST

NYSE

SST

YXT.COM GROUP HOLDING LIMITED - American Depository Shares

NASDAQ:YXT

NASDAQ

YXT

Diginex Limited - Ordinary Shares

NASDAQ:DGNX

NASDAQ

DGNX

Aware, Inc. - Common Stock

NASDAQ:AWRE

NASDAQ

AWRE

Intellinetics, Inc. Common Stock

AMEX:INLX

AMEX

INLX

Beamr Imaging Ltd. - Ordinary Share

NASDAQ:BMR

NASDAQ

BMR

CLPS Incorporation - Common Stock

NASDAQ:CLPS

NASDAQ

CLPS

LivePerson, Inc. - Common Stock

NASDAQ:LPSN

NASDAQ

LPSN

BeLive Holdings - ordinary shares

NASDAQ:BLIV

NASDAQ

BLIV

Firefly Neuroscience, Inc. - Common Stock

NASDAQ:AIFF

NASDAQ

AIFF

Veea Inc. - Common Stock

NASDAQ:VEEA

NASDAQ

VEEA

Nixxy, Inc. - Common Stock

NASDAQ:NIXX

NASDAQ

NIXX

Youxin Technology Ltd - Class A Ordinary shares

NASDAQ:YAAS

NASDAQ

YAAS

Lottery.com, Inc. - Common Stock

NASDAQ:SEGG

NASDAQ

SEGG

Upland Software, Inc. - Common Stock

NASDAQ:UPLD

NASDAQ

UPLD

authID Inc. - Common Stock

NASDAQ:AUID

NASDAQ

AUID

KNOREX LTD. Class A Ordinary Shares

AMEX:KNRX

AMEX

KNRX

MIND C.T.I. Ltd. - Ordinary Shares

NASDAQ:MNDO

NASDAQ

MNDO

Cyngn Inc. - Common stock

NASDAQ:CYN

NASDAQ

CYN

Real Messenger Corporation - Ordinary Shares

NASDAQ:RMSG

NASDAQ

RMSG

Motorsport Games Inc. - Class A Common Stock

NASDAQ:MSGM

NASDAQ

MSGM

Intelligent Protection Management Corp. - Common Stock

NASDAQ:IPM

NASDAQ

IPM

CXApp Inc. - Class A Common Stock

NASDAQ:CXAI

NASDAQ

CXAI

GigaMedia Limited - Ordinary Shares

NASDAQ:GIGM

NASDAQ

GIGM

The GrowHub Limited - Class A Ordinary Shares

NASDAQ:TGHL

NASDAQ

TGHL

WiMi Hologram Cloud Inc. - Class B Ordinary Shares

NASDAQ:WIMI

NASDAQ

WIMI

Bridgeline Digital, Inc. - Common Stock

NASDAQ:BLIN

NASDAQ

BLIN

ChowChow Cloud International Holdings Limited Ordinary Shares

AMEX:CHOW

AMEX

CHOW

T Stamp Inc. - Class A Common Stock

NASDAQ:IDAI

NASDAQ

IDAI

Nvni Group Limited - Ordinary Shares

NASDAQ:NVNI

NASDAQ

NVNI

Taoping Inc. - Ordinary Shares

NASDAQ:TAOP

NASDAQ

TAOP

SAGTEC GLOBAL LIMITED - Class A Ordinary shares

NASDAQ:SAGT

NASDAQ

SAGT

DarkIris Inc. - Class A Ordinary Shares

NASDAQ:DKI

NASDAQ

DKI

Algorhythm Holdings, Inc. - Common Stock

NASDAQ:RIME

NASDAQ

RIME

LZ Technology Holdings Limited - Class B Ordinary Shares

NASDAQ:LZMH

NASDAQ

LZMH

Creative Global Technology Holdings Limited - Class A Ordinary Shares

NASDAQ:CGTL

NASDAQ

CGTL

Gaxos.ai Inc. - Common Stock

NASDAQ:GXAI

NASDAQ

GXAI

ARB IOT Group Limited - Ordinary Shares

NASDAQ:ARBB

NASDAQ

ARBB

Datasea Inc. - Common Stock

NASDAQ:DTSS

NASDAQ

DTSS

VerifyMe, Inc. - Common Stock

NASDAQ:VRME

NASDAQ

VRME

Cloudastructure, Inc. - Class A Common Stock

NASDAQ:CSAI

NASDAQ

CSAI

3 E Network Technology Group Ltd - Class A Ordinary Shares

NASDAQ:MASK

NASDAQ

MASK

AiRWA Inc. - Common Stock

NASDAQ:YYAI

NASDAQ

YYAI

DEFSEC Technologies Inc. - common stock, no R/S concurrent with offering

NASDAQ:DFSC

NASDAQ

DFSC

XIAO-I Corporation - American Depositary Shares

NASDAQ:AIXI

NASDAQ

AIXI

Amesite Inc. - Common Stock

NASDAQ:AMST

NASDAQ

AMST

Global Engine Group Holding Limited - Class A Ordinary Shares

NASDAQ:GLE

NASDAQ

GLE

Lianhe Sowell International Group Ltd - Class A Ordinary Shares

NASDAQ:LHSW

NASDAQ

LHSW

Infobird Co., Ltd - Ordinary Shares

NASDAQ:IFBD

NASDAQ

IFBD

Versus Systems Inc. - Common Stock

NASDAQ:VS

NASDAQ

VS

Global Interactive Technologies, Inc. Common Stock - Common Stock

NASDAQ:GITS

NASDAQ

GITS

Data Storage Corporation - Common Stock

NASDAQ:DTST

NASDAQ

DTST

Cycurion, Inc. - Common Stock

NASDAQ:CYCU

NASDAQ

CYCU

Auddia Inc. - Common Stock

NASDAQ:AUUD

NASDAQ

AUUD

Professional Diversity Network, Inc. - Common Stock

NASDAQ:IPDN

NASDAQ

IPDN

Orangekloud Technology Inc. - Class A Ordinary Shares

NASDAQ:ORKT

NASDAQ

ORKT

Locafy Limited - Ordinary Share

NASDAQ:LCFY

NASDAQ

LCFY

TaoWeave, Inc. - Common Stock

NASDAQ:TWAV

NASDAQ

TWAV

Super League Enterprise, Inc. - Common Stock

NASDAQ:SLE

NASDAQ

SLE

Cheer Holding, Inc. - Class A Ordinary Share

NASDAQ:CHR

NASDAQ

CHR

Heartcore Enterprises, Inc. - Common Stock

NASDAQ:HTCR

NASDAQ

HTCR

Healthcare Triangle, Inc. - Common Stock

NASDAQ:HCTI

NASDAQ

HCTI

Foresight Autonomous Holdings Ltd. - American Depositary Shares

NASDAQ:FRSX

NASDAQ

FRSX

Banzai International, Inc. - Class A Common Stock

NASDAQ:BNZI

NASDAQ

BNZI

Wellchange Holdings Company Limited - Class A Ordinary shares

NASDAQ:WCT

NASDAQ

WCT

Global Mofy AI Limited - Class A Ordinary Shares

NASDAQ:GMM

NASDAQ

GMM

AGM Group Holdings Inc. - Class A Ordinary Shares

NASDAQ:AGMH

NASDAQ

AGMH

Mobile-health Network Solutions - Class A Ordinary Shares

NASDAQ:MNDR

NASDAQ

MNDR

U-BX Technology Ltd. - Class A Ordinary Shares

NASDAQ:UBXG

NASDAQ

UBXG

SaverOne 2014 Ltd. - American Depositary Shares

NASDAQ:SVRE

NASDAQ

SVRE

Iveda Solutions, Inc. - Common Stock

NASDAQ:IVDA

NASDAQ

IVDA

CID HoldCo, Inc. - Common Stock

NASDAQ:DAIC

NASDAQ

DAIC

Onfolio Holdings Inc. - Common Stock

NASDAQ:ONFO

NASDAQ

ONFO

Republic Power Group Limited - Class A Ordinary Shares

NASDAQ:RPGL

NASDAQ

RPGL

My Size, Inc. - Common Stock

NASDAQ:MYSZ

NASDAQ

MYSZ

Hitek Global Inc. - Class A Ordinary Share

NASDAQ:HKIT

NASDAQ

HKIT

ZW Data Action Technologies Inc. - Common Stock

NASDAQ:CNET

NASDAQ

CNET

Black Titan Corp - Ordinary Shares

NASDAQ:BTTC

NASDAQ

BTTC

Paranovus Entertainment Technology Ltd. - Class A Ordinary Shares

NASDAQ:PAVS

NASDAQ

PAVS

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