How much are public tech companies diluting shareholders via SBC — and are they earning it?
Showing most recent annual (10-K) filing per company. Each company's year may differ based on when their latest 10-K was filed.
| Ticker | Company | Sector | Year | SBC ($) | Revenue ($) | SBC % Rev | SBC % EBITDA | Rev Growth | Buybacks ($) | Buyback % Shares |
|---|---|---|---|---|---|---|---|---|---|---|
| AI | C3.ai | AI / Neo-Cloud | 2025 | $231M | $389M | 59.4% | neg EBITDA | 25.3% | — | — |
| SOUN | SoundHound AI | AI / Neo-Cloud | 2025 | $81M | $169M | 47.7% | neg EBITDA | 99.4% | — | — |
| SNOW | Snowflake | SaaS | 2026 | $1.6B | $4.7B | 34.1% | neg EBITDA | 29.2% | $874M | — |
| COUP | Coupa Software | SaaS | 2022 | $200M | $725M | 27.6% | neg EBITDA | 33.9% | — | — |
| TEAM | Atlassian | SaaS | 2025 | $1.4B | $5.2B | 26.1% | neg EBITDA | 19.7% | $779M | 1.6% |
| ZS | Zscaler | SaaS | 2025 | $661M | $2.7B | 24.7% | neg EBITDA | 23.3% | — | — |
| CRWD | CrowdStrike | SaaS | 2026 | $1.1B | $4.8B | 22.8% | neg EBITDA | 21.7% | — | — |
| GTLB | GitLab | SaaS | 2026 | $215M | $955M | 22.5% | neg EBITDA | 25.8% | — | — |
| MDB | MongoDB | SaaS | 2026 | $550M | $2.5B | 22.3% | neg EBITDA | 22.8% | $400M | 2.0% |
| DDOG | Datadog | SaaS | 2025 | $751M | $3.4B | 21.9% | 15551.5% | 27.7% | — | — |
| PINS | Social / Consumer | 2025 | $880M | $4.2B | 20.9% | 255.2% | 15.8% | $927M | — | |
| NET | Cloudflare | Infrastructure | 2025 | $451M | $2.2B | 20.8% | neg EBITDA | 29.8% | $0 | — |
| FSLY | Fastly | Infrastructure | 2025 | $117M | $624M | 18.8% | neg EBITDA | 14.8% | — | — |
| OKTA | Okta | SaaS | 2026 | $544M | $2.9B | 18.6% | 335.8% | 11.8% | $0 | 0.3% |
| BBAI | BigBear.ai | AI / Neo-Cloud | 2025 | $23M | $128M | 18.3% | neg EBITDA | -19.3% | — | — |
| ESTC | Elastic | SaaS | 2025 | $258M | $1.5B | 17.4% | neg EBITDA | 17.0% | — | — |
| SNAP | Snap | Social / Consumer | 2025 | $1.0B | $5.9B | 17.1% | neg EBITDA | 10.6% | $751M | — |
| WDAY | Workday | SaaS | 2026 | $1.6B | $9.6B | 17.0% | 169.7% | 13.1% | $2.9B | — |
| HUBS | HubSpot | SaaS | 2025 | $528M | $3.1B | 16.9% | 256.7% | 19.2% | $500M | — |
| ZM | Zoom | SaaS | 2026 | $761M | $4.9B | 15.6% | 60.5% | 4.4% | $1.6B | — |
| PLTR | Palantir | AI / Neo-Cloud | 2025 | $684M | $4.5B | 15.3% | 47.5% | 56.2% | $75M | — |
| NOW | ServiceNow | SaaS | 2025 | $2.0B | $13.3B | 14.7% | 76.3% | 20.9% | $1.8B | 1.0% |
| PANW | Palo Alto Networks | Security | 2025 | $1.3B | $9.2B | 14.0% | 81.6% | 14.9% | $0 | — |
| ABNB | Airbnb | Social / Consumer | 2025 | $1.6B | $12.2B | 13.0% | 62.2% | 10.3% | $3.8B | — |
| CRWV | CoreWeave | AI / Neo-Cloud | 2025 | $630M | $5.1B | 12.3% | 26.2% | 167.9% | — | — |
| TWLO | Twilio | SaaS | 2025 | $600M | $5.1B | 11.8% | 170.0% | 13.7% | $869M | 5.2% |
| META | Meta Platforms | Mega Cap | 2025 | $20.4B | $201.0B | 10.2% | 20.0% | 22.2% | $26.2B | — |
| DOCN | DigitalOcean | SaaS | 2025 | $80M | $901M | 8.9% | 27.3% | 15.5% | $82M | — |
| CRM | Salesforce | SaaS | 2026 | $3.5B | $41.5B | 8.5% | 29.3% | 9.6% | $12.6B | — |
| DASH | DoorDash | Social / Consumer | 2025 | $1.1B | $13.7B | 7.7% | 71.5% | 27.9% | $0 | — |
| GOOGL | Alphabet | Mega Cap | 2025 | $25.0B | $402.8B | 6.2% | 16.6% | 15.1% | $45.7B | — |
| LYFT | Lyft | Social / Consumer | 2025 | $322M | $5.9B | 5.5% | neg EBITDA | 9.9% | $500M | — |
| MSFT | Microsoft | Mega Cap | 2025 | $12.0B | $281.7B | 4.3% | 8.0% | 14.9% | $18.4B | 0.4% |
| FTNT | Fortinet | Security | 2025 | $280M | $6.8B | 4.1% | 12.5% | 14.2% | $2.3B | — |
| UBER | Uber | Social / Consumer | 2025 | $1.8B | $52.0B | 3.5% | 29.1% | 18.3% | $6.5B | 3.9% |
| AAPL | Apple | Mega Cap | 2025 | $12.9B | $416.2B | 3.1% | 8.9% | 6.4% | $90.7B | 2.7% |
| TSLA | Tesla | Mega Cap | 2025 | $2.8B | $94.8B | 3.0% | 30.1% | -2.9% | — | — |
| AMZN | Amazon | Mega Cap | 2025 | $19.5B | $716.9B | 2.7% | 13.4% | 12.4% | — | — |
| CFLT | Confluent | SaaS | 2025 | $63M | $2.5B | 2.6% | 67.6% | -4.0% | — | 8.7% |
| NFLX | Netflix | Mega Cap | 2025 | $368M | $45.2B | 0.8% | 2.7% | 15.9% | $9.1B | 2.0% |
SBC % Rev: red >15% · orange 7–15% · green <7%. SBC % EBITDA: red >100% · orange 25–100% · green <25%. Revenue growth: green >25% · yellow 10–25% · grey <10%. Data sourced from SEC EDGAR 10-K filings.