Qualtrics ( NASDAQ: XM ) stock rose ~8% on Tuesday after Q3 results beat estimates and the company raised its FY22 outlook.
Q3 non-GAAP EPS rose to $0.04, compared to $0.01 in the prior year period, beating estimates by $0.06.
Total revenue grew +39% Y/Y to $377.53M. Meanwhile, subscription revenue increased +43% Y/Y to $314.8M.
"Q3 was another strong quarter for Qualtrics with 39% revenue growth and continued operating margin improvement," said Qualtrics CEO Zig Serafin.
Q3 non-GAAP operating income increased to $22.6M, compared to $13.3M a year ago. Meanwhile, non-GAAP operating margin was 6%, compared to 5% in Q3 2021.
As of Sept. 30, cash and cash equivalents were $731.7M.
Outlook FY2022 :
Qualtrics raised its FY22 revenue outlook and now expects it to be between $1.45B and $1.452B ( prior forecast during Q2 results $1.422B to $1.426B); Consensus Revenue Estimate for FY22 is $1.43B.
The company expects subscription revenue between $1.219B and $1.221B (prior range $1.202B to $1.206B).
Non-GAAP EPS between $0.04 and $0.05 (prior outlook of non-GAAP net loss per share of -0.07 to -$0.09. Consensus EPS Estimate for FY22 is $0.04.
The company anticipates non-GAAP operating margin of 4% (prior range 1.5% and 3%).
Outlook Q4 :
Qualtrics expects total revenue between $380M and $382M; ( consensus $374.41M).
The company expects subscription revenue between $323M and $325M.
Q4 non-GAAP EPS anticipated between $0.02 and $0.03' (consensus $0.03).
Qualtrics expects non-GAAP operating margin between 5.5% and 6.5%.
For further details see:
Qualtrics stock rises on raised FY22 outlook as Q3 revenue soar 39%