Not really. When you take a look across the landscape of companies such as CRM, NOW, WDAY for enterprise SaaS, or even DBX for consumer-facing SaaS, their margi

Not really. When you take a look across the landscape of companies such as CRM, NOW, WDAY for enterprise SaaS, or even DBX for consumer-facing SaaS, their margins and free cash profiles tend to be around the mid-teens on Non-GAAP op. margin and 20-30% for annual free cash flow margin. Most institutional investors in growth software are looking for a blend of free cash generation and margin improvement, and out of those enterprise SaaS names all but Salesforce have been consistently delivering this.