Americas Emerging Software: Changes in Coverage

Research evidence excerpt

Americas Emerging Software: Changes in Coverage

g access to detailed financial statement histories, forecasts and ratios. It can be used for

in-depth analysis of a single company, or to make comparisons between companies in different sectors and markets.

Disclosures

The rating(s) for Alarm.com Holdings, Alkami Technology Inc., Blackline Inc., CCC Intelligent Solutions Holding, Guidewire Software Inc., Porch

Group, Q2 Holdings, ServiceTitan Inc., Similarweb Ltd., Sprout Social Inc., Tyler Technologies Inc., Veeva Systems Inc., Vertex Inc., Via

Transportation Inc., Waystar, Workiva Inc. and nCino Inc. is/are relative to the other companies in its/their coverage universe: Alarm.com

Holdings, Alkami Technology Inc., Blackline Inc., CCC Intelligent Solutions Holding, Guidewire Software Inc., Porch Group, Q2 Holdings, ServiceTitan Inc.,

Similarweb Ltd., Sprout Social Inc., Tyler Technologies Inc., Veeva Systems Inc., Vertex Inc., Via Transportation Inc., Waystar, Workiva Inc., nCino Inc.

Company-specific regulatory disclosures

Compendium report: please see disclosures at https://www.gs.com/research/hedge.html. Disclosures applicable to the companies included in this

compendium can be found in the latest relevant published research

Distribution of ratings/investment banking relationships

Goldman Sachs Investment Research global Equity coverage universe

Rating Distribution Investment Banking Relationships

Buy Hold Sell Buy Hold Sell

Global 50% 34% 16% 65% 60% 45%

As of April 1, 2026, Goldman Sachs Global Investment Research had investment ratings on 3,074 equity securities. Goldman Sachs assigns stocks as

Buys and Sells on various regional Investment Lists; stocks not so assigned are deemed Neutral. Such assignments equate to Buy, Hold and Sell for the