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home / news releases / ZUO - Zuora reaffirms FY 2024 guidance for adjusted free cash flow

ZUO - Zuora reaffirms FY 2024 guidance for adjusted free cash flow

Zuora Inc. Class A

2023-04-04 02:58:54 ET

  • Zuora ( NYSE: ZUO ) is reaffirming FQ1 2024 and FY 2024 guidance as it expects that free cash flow will be impacted by the settlement and related shareholder litigation expenses.

  • Accordingly, Zuora ( ZUO ) currently expects free cash flow for FY 2024 to be negative $49.9M. The amount reflects expected payments in FY 2024 related to the shareholder litigation of $69.4M of non-recurring charges and $4.5M of shareholder litigation expenses.

  • Guidance for adjusted free cash flow for FY 2024 is $24M or greater, consistent with amount previously provided.

  • The company agreed to pay an aggregate of $75M to settle the litigation, which Zuora recorded as an accrual in its FQ4 2023. Expects ~$6.6M of the settlement to be funded by its remaining insurance coverage.

  • Quick look at FQ4 results .

For further details see:

Zuora reaffirms FY 2024 guidance for adjusted free cash flow
Stock Information
Company Name: Zuora Inc. Class A
Stock Symbol: ZUO
Market: NYSE
Website: zuora.com
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