What to Look for When Buying a SaaS Business in 2026

The post-bubble market

2021 saw frothy valuations. 2026 is buyer's market territory. Take advantage by being selective.

1. Profitability over growth

Profitable businesses with modest growth often beat unprofitable rocket-ships. Check EBITDA margin.

2. AI-resistant moats

Look for businesses with: proprietary data, network effects, deep integrations, regulated industry compliance.

3. Customer retention metrics

NRR above 100% means customers expand usage. NRR below 90% means the bucket is leaking.

4. Real not vanity metrics

Sign-ups, MAU, page views — vanity. ARR, NRR, gross margin, CAC payback — real.

5. Tech stack age

Old PHP/jQuery codebases work but cost more to maintain. Modern stacks are easier to operate.

6. Founder dependency

Can it run without the seller? If founder is doing sales, support, AND dev — you're buying a job.

7. Marketing channel diversity

Single-channel businesses are fragile. Multi-channel are resilient.

8. Documentation quality

Well-documented businesses transition smoothly. Walk away from undocumented operations unless price reflects it.

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