QADB - QAD reports upside Q4 revenue and profitability

QAD (QADB) shares gain 1.6% after the company reports Q4 beats with revenue up 6% on the year to $82.98M. Adjusted pre-tax income was $10.1M versus $3.8M last year and the $4.3M consensus.Subscription revenue was up 24% Y/Y to $35.5M. Subscription margin improved from 67% to 70%.Maintenance was down slightly on the year from $28.7M to $27.2M.“We were pleased to finish the year with solid financial results, capping fiscal 2021 with strong fourth quarter growth in subscription revenue, margins and profitability,” says CEO Anton Chilton “With our cloud funnel at a record high, the manufacturing economy improving, and our easy to deploy, adaptive, cloud-based ERP suite, we are optimistic about fiscal 2022, and remain positioned for sustainable, long-term growth.”For Q1, QAD guides for $36.5M in subscription revenue, $26M in maintenance revenue, and breakeven operating income.For the year, QAD expects $160M in subscription sales, $102M in maintenance revenue, and $12M operating income.Press release.

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QAD reports upside Q4 revenue and profitability