Buy Hold Sell: 5 ASX Tech Stocks Bouncing Back From the SaaS-Pocalypse

Why It Matters

The discussion signals a potential buying window for investors after indiscriminate SaaS sell-offs: companies with durable contracts, monetisation strategies, or clear ad-growth levers may recover and re-rate as fears about AI disruption and near-term growth abate.

Summary

On Buy, Hold, Sell Livewire Markets revisited five beaten-down ASX tech stocks amid a year-long ‘SaaSpocalypse’ that saw major software names plunge about 65%. Guests James Gerrish and Jun Bei Liu largely called the names buys, highlighting Life360’s pivot to freemium and ad monetisation, another social-media-adjacent mid-cap moving from near-zero ad revenue toward meaningful advertising, and Promedicus’s sticky, long-term hospital contracts and predictable revenue growth. The panel warned AI poses risks but argued several businesses are either resilient, expanding contract scope, or demonstrating clear paths to renewed earnings growth. Overall, they see the recent sell-off as an opportunity to accumulate quality growth names at compressed valuations.

Original Description

The great ASX tech unwind has been brutal.

After years of premium valuations, strong growth and near-bulletproof market faith, some of Australia’s best-known software and technology stocks have been dragged back to earth. The trigger? A mix of stretched multiples, slowing growth, investor fatigue and, increasingly, the disruptive threat of artificial intelligence.

The five names in this episode – Life360 (ASX: 360), Pro Medicus (ASX: PME ), Xero (ASX: XRO), TechnologyOne (ASX: TNE) and WiseTech Global (ASX: WTC) – fell an average of around 65% from their highs to their lows. More recently, however, they have recovered an average of around 30%, with one stock now just 26% off its all-time high.

So, is this the beginning of a genuine turnaround? Or just a relief rally in a sector still facing uncomfortable questions?

In this special episode of Buy Hold Sell, Matthew Kidman returns as host for the first time in three years, alongside two familiar faces: Jun Bei Liu from Ten Cap and James Gerrish from Market Partners. Together, they run the ruler over five ASX tech leaders caught in the ‘SaaS-pocalypse’, and each names one beaten-up tech-related stock they believe is down, but not out.

This episode was filmed on Wednesday, 10 June 2026.

Read it here on Livewire Markets: https://bit.ly/4uoiPhv

Timecodes:

00:00 - Market Overview: Navigating the "SaaSpocalypse" and the Impact of AI

01:55 - Life360 Inc. (ASX: 360)

05:25 - Pro Medicus Limited (ASX: PME)

08:10 - Xero Limited (ASX: XRO)

11:35 - TechnologyOne Limited (ASX: TNE)

13:45 - WiseTech Global Limited (ASX: WTC)

17:10 - Cochlear Limited (ASX: COH)

18:45 - SiteMinder Limited (ASX: SDR)

20:40 - Outro: Final Thoughts