I think that FCF will be impacted for many of our SaaS companies. Cisco is for instance offering payment deferrals until 2021: https://mobile.reuters.com/article/amp/idUSKCN21W1JH?__twitt…
I work for an airline supplier company and currently all costs are minimized as revenue is down by 90%. I am pretty sure that we are not paying any of our incoming SaaS invoices right now and this likely also applies for many other companies in the hardest hit sectors. If we don’t get payment deferrals or even discounts, we may have to cancel many of our SaaS subscriptions in order to preserve cash.
As we are a large company (5 billion revenue in steady state), I expect that most SaaS companies will do nearly everything to prevent losing us as a customer, with an expected hit in their FCF and OPEX (discounts).