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Friends & Family Capital is pleased to share the Q2 2024 edition of “Seven Weeks in Seven Minutes.”

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This resource is a summary of condensed and actionable insights on what you need to know from the last seven weeks of earnings announcements.

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It is intended for our Founders, CFOs, and friends in the community.

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See below for the overview slides from the quarter. The full presentation is available for download here.

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We welcome your feedback to help shape the relevance for your business in future quarters.

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Key theme for the quarter: “Growth Will Soon Be Differentiated”

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• Deal scrutiny & longer deal cycles are still present across the enterprise software universe

• New sales & GTM motions are being tested and implemented by companies with some early success

• Compute & datacenter build-out continues to advance with more capex expected next year

• AI success at the non-infrastructure layer is split amongst cases of value versus pre-monetization

• 67% of companies both beat estimates and had analysts raise estimates on revenue and EPS

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Our public company universe includes 45 companies. We selected these businesses as leading business-to-business software companies plus the technology stalwarts. The customers served by these companies are also relevant for the Founders we help as they build companies in the private markets.

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Market price moved up or down by 10% or more across several companies following their earnings.

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Below are the top ten movers and bottom ten movers in the Q2 earnings season based on one-day share price reaction following their earnings announcement.

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A timeless question of "Is it me? Or the market?" can be addressed through the commentary companies offer about their customers and go-to-market motion. We offer a few quotes below to help benchmark what you hear from account executives on your sales team.

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The wave of AI innovation is beginning to show a bifurcation between companies that are able to drive value generation and revenue lift, and those that remain pre-monetization with their AI products and features.

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The Q2 earnings season had a notably high number of announcements of CFO transitions within the F&FC coverage list.

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The full presentation is available for download here.