Saastr · 31 October 2026 · Industry Analysis

SaaS Isn’t Dead. Old SaaS Is Dead: Sierra Adds $150M ARR in One Quarter While ServiceNow Drops 27% in a Day

Jason Lemkin, GP @ SaaStr

ServiceNow's 27% stock drop despite 20% growth and Sierra's $150M ARR addition in one quarter reveal a fundamental budget shift: enterprises are reallocating customer service and operations spending from traditional seat-based SaaS to outcome-priced AI agents, not growing new budget.

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Topics: AI (Horizontal) · Enterprise Software

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