Zendesk stock lays out an interesting story worth diving into. Prior to the pandemic, global SAAS cloud services grew at an extraordinary rate. Lockdowns and dampened economic activity slowed this for a period. Yet, companies like Zendesk grew revenues even in the depths of the crisis. But do they deserve their lofty valuation? The company hasn’t turned an operating profit yet, and expects to lose ~$16-$20 million on a non-GAAP basis and $35-$39 million on a GAAP basis. Yet, they crossed the $1 billion revenue run-rate mark with revenue climbed 24% for the same quarter year-over-year, with GAAP gross margins up 4.1% to 76%. And there’s a lot to love with their investments and especially their recent partnership with WhatsApp. Financial analysis Since Zendesk hit the markets in 2012, they have yet to turn a profit. Normally that would be worrisome. Yet, they’ve managed to increase their gross margin steadily from 65.3% in the first year to a rolling 12-month 74.8%....