FinancialContent Declares 'Great Software Awakening' — April 2026 Marks End of 18-Month SaaSpocalypse

FinancialContent / MarketMinute·high signal

April 15 analysis argues the software sector has bottomed after an 18-month rout that destroyed $2 trillion in market cap. Software EV/Revenue multiples compressed from 7.0x (early 2025) to 3.1-3.4x (March 2026 bottom), and forward P/E crashed from 84.1x (2020-2022 peak) to 22.7x. The recovery thesis hinges on 'Agentic ACV' — Annual Contract Value measured by AI agent task completion — replacing seat-count licensing as the dominant billing model.