Zuora, Inc. (NYSE: ZUO) got off to a decent start Friday after the company reported upbeat Q1 earnings and issued strong outlook.
The San Mateo, California-based company, the leading cloud-based subscription management platform provider, today announced financial results for its first fiscal quarter ended April 30, 2018.
Total revenue was $51.7 million, an increase of 60% year-over-year. Subscription revenue was $36.1 million, an increase of 39% year-over-year.
GAAP loss from operations was $18.6 million, compared to a loss of $8.0 million in the first quarter of fiscal 2018.
GAAP net loss was $19.4 million, compared to a loss of $8.1 million in the first quarter of fiscal 2018. GAAP net loss per share was $0.43 based on 44.9 million weighted average shares outstanding, compared to GAAP net loss per share of $0.33 based on 25.0 million weighted average shares outstanding in the first quarter of fiscal 2018.
For the second quarter of fiscal 2019, Zuora currently expects total revenue of $53.5 to $54.5 million, as well as subscription revenue of $38.0 to $38.5 million. Non-GAAP loss from operations are expected to be $16.0 to $15.0 million
Zuora ended the quarter with 441 customers with ACV equal to or greater than $100,000, representing 6% quarter-over-quarter growth in such customers, and a net add of 26 of such customers. Dollar-based retention rate increased quarter-over-quarter to 112%, primarily driven by strong volume upsell activity.
Shares in the company advanced $1.12, or 5%, to $23.30 Friday
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