slack earnings q2 2020

(In thousands, except per share data) Revenue was negatively impacted by $8.2 million of credits related to service level disruption in the quarter. "We see an equal opportunity for both Slack and Microsoft Teams to grow as alternatives to traditional e-mail and argue a duopoly-like market structure could form around the two most popular messaging-centric in platforms at maturity," KeyBanc Capital Markets analysts led by Brent Bracelin wrote in a note to clients on Aug. 25. Slack's uptime — a measure of how frequently the service is operating normally — slipped below 99.9% in June and July, wrote the KeyBanc analysts, who recommend buying the stock.

Non-GAAP operating loss of $49 million to $47 million.

Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Slack’s control. People around the world use Slack to connect their teams, unify their systems and drive their business forward. The company said it had over 130,000 paying customers in the quarter, up 30% year over year and above the FactSet consensus estimate of 128,000.

Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall” and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Those credits can impact revenue. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: Slack’s recent growth rates may not be indicative of its future growth; Slack may experience quarterly fluctuations in its results of operations due to a number of factors that make its future results difficult to predict and could cause its results of operations to fall below analyst or investor expectations or to fluctuate more than expected; Slack may fail to manage its growth effectively and may be unable to execute its business plan or maintain high levels of service and customer satisfaction; real or perceived errors, failures, vulnerabilities, or bugs in Slack could harm Slack’s business, results of operations, and financial condition; a security incident may allow unauthorized access to Slack’s systems, networks, or data or the data of organizations on Slack, harm its reputation, create additional liability, and harm its financial results; any actual or perceived failure by Slack to comply with privacy, data protection, information security, consumer privacy, data residency, or telecommunications laws, regulations, government access requests, and obligations in one or multiple jurisdictions could result in proceedings, actions, or penalties against Slack and could harm its business and reputation; the risk of interruptions or performance problems, including a service outage, associated with Slack’s technology or infrastructure; the market and software categories in which Slack participates are competitive, new, and rapidly changing, and if it does not compete effectively with established companies as well as new market entrants its business, results of operations, and financial condition could be harmed; a protracted infringement claim, a claim that results in a significant damage award, or a claim that results in an injunction could harm Slack’s results of operations; adverse general economic and market conditions; Slack’s ability to attract and retain qualified employees and key personnel; changes in foreign exchange rates; general political or destabilizing events, including war, conflict or acts of terrorism; and other risks and uncertainties.

The forward-looking statements included in this press release represent Slack’s views as of the date of this press release. Heading into the Slack earnings report, the company had a …

A few days before its listing, Slack forecast second-quarter revenue of $139 million to $141 million, representing growth of about 52%. Data is a real-time snapshot *Data is delayed at least 15 minutes. "That said, it could result in fines and Microsoft selling a version of Office without Teams, based on precedent set by the EU's fines and actions against Microsoft.". Net cash provided by operations was $0.3 million, or 0% of total revenue, compared to cash provided by operations of $1.5 million, or 2% of total revenue, for the second quarter of fiscal year 2019. For the fiscal third quarter, Slack is calling for a loss of 8 cents to 9 cents per share, excluding certain items, and $154 million to $156 million in revenue, reflecting 46% to 48% revenue growth.

Slack (WORK) earnings Q2 2021 September 9, 2020 Sam khawaja 0 Comments Stewart Butterfield, co-founder and chief executive officer of Slack Technologies Inc., speaks during an event in San Francisco, California. Slack shares fell as much as 20% in extended trading on Tuesday after the team communications software company reported fiscal second-quarter results and full-year guidance that exceeded analysts' expectations. WATCH: Slack files European Union antitrust complaint against Microsoft. The company has not seen a change in its win rate against Microsoft. Excluding the after-hours move, shares of Slack are up about 31% since the start of the year, while the S&P 500 is up 3%. Slack anticipates that subsequent events and developments will cause its views to change. Follow @CNBCtech on Twitter for the latest tech industry news. “This is an entirely new category of software enabling a once-in-a-generation shift in the way people work together. The European Commission has previously fined Microsoft for not complying with an agreement related to giving people the ability to choose a web browser and ordered the company to license certain Windows technology to competitors. GAAP net loss per basic and diluted share was $0.98. Slack believes that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Slack’s financial condition and results of operations. Slack experienced more paid customer churn and slower expansion inside of existing paying customers in the past two quarters, the company said in a filing. Stewart Butterfield, chief executive officer of Slack Technologies Inc., right, with Allen Shim, chief financial officer of Slack Technologies, Inc., on the floor of the New York Stock Exchange (NYSE) during the company's initial public offering (IPO) in New York, U.S., on Thursday, June 20, 2019. Data is a real-time snapshot *Data is delayed at least 15 minutes. On Wednesday Slack did not provide updated user statistics.

Got a confidential news tip? The company reported a net loss of $73 million, significant progress from the year-ago quarter, when it lost $360 million. Slack has grown revenue by about 50% for the third quarter in a row. Slack is a new layer of the business technology stack that brings together people, applications and data – a hub for collaboration where people can effectively work together, access critical applications and services, and find important information to do their best work.

Non-GAAP operating loss was $55.6 million, or 38% of total revenue, compared to a $32.0 million loss in the second quarter of fiscal year 2019, or 35% of total revenue. David Paul Morris | Bloomberg | Getty Images, Slack files European Union antitrust complaint against Microsoft, fiscal second-quarter results and full-year guidance. “Customers are choosing Slack because we offer a great user experience, a rich application platform and ecosystem, and a growing network for inter-company collaboration via shared channels.”, “Revenue growth was 58% year-over-year, despite a one-time revenue headwind from credits issued in the quarter related to service level disruption,” said Allen Shim, Chief Financial Officer at Slack. Slack said its revenue for the quarter was negatively impacted by $8.2 million of credits.

Despite beating expectations on the top and bottom lines, shares of Slack fell sharply due to weak guidance and concerns over the company's ability to compete with Microsoft's competing chat product, Teams.

Sign up for free newsletters and get more CNBC delivered to your inbox. Shares of Slack, maker of the popular workplace chat app, plunged as much as 16% on Wednesday after the company issued its first earnings report as a public company, briefly dropping below the reference price from its direct listing.

That's a disappointment compared with video-calling software company Zoom, which showed 355% growth during the coronavirus pandemic. With respect to guidance, Slack predicted a fiscal third-quarter adjusted loss of 6 cents to 5 cents per share on $222 million to $225 million in revenue.

Non-GAAP gross profit was $126.3 million, or 87.1% gross margin, compared to $80.7 million, or 87.7% gross margin, in the second quarter of fiscal year 2019.

Slack Technologies () Q2 2021 Earnings Call Sep 08, 2020, 5:00 p.m. Calculated Billings of $740 million to $760 million, representing year-over-year growth of 43% to 47%. Calculated Billings was $174.8 million, an increase of 52% year-over-year. Q2FY20 total revenue of $145.0 million up 58% year-over-year.

In the fiscal second quarter Slack announced the acquisition of Rimeto, a start-up with software that companies can use to show profiles of their workers. A majority of customers spending over $1 million in annual recurring revenue also use Office 365, Shim said. The conference ID is 5175868.

Past performance is not necessarily indicative of future results.

These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. (In thousands) For the full fiscal year 2020, Slack currently expects: Total revenue of $603 million to $610 million, representing year-over-year growth of 51% to 52%.

Analysts surveyed by Refinitiv had been looking for an adjusted loss of 5 cents per share and $223.7 million in revenue. Slack shares drop despite beating top and bottom line in Q2 Video at CNBC.com (Sep 8, 2020) Trading Nation: Slack earnings on deckâ Here's what to expect Video at CNBC.com (Sep 8, 2020) Slack has not reconciled its outlook as to non-GAAP operating loss and non-GAAP net loss per share to their most directly comparable GAAP measure because certain items are out of Slack’s control or cannot be reasonably predicted.

GAAP gross profit was $113.9 million, or 78.5% gross margin, compared to $80.7 million, or 87.7% gross margin, in the second quarter of fiscal year 2019.