Mar. 26 at 7:52 PM
AI isn't killing all software — it's killing the wrong pricing model. 👀
KeyBanc drops a crucial framework: seat-based SaaS = vulnerable. Asset- and activity-based revenue = defensible. Think
$HUBS vs
$BILL vs
$SSNC — how you charge matters as much as what you sell.
Seat count shrinks as AI agents replace human users. But if you bill per transaction, per asset, per API call — volume can actually GROW with AI adoption. That's the alpha here.
Watchlist: favor usage/activity-based models over pure per-seat plays heading into earnings season ⚠️
#SaaS #AIDisruption #SoftwareStocks