2023-05-25 11:53:54 ET
- Zuora ( NYSE: ZUO ) +18% reported its fiscal first quarter earnings after the bell on Wednesday, beating analysts' expectations on the top and bottom line on higher subscription revenue.
- Customers with ACV equal to or greater than $100,000 were 782, up from 746 as of April 30, 2022.
- Dollar-based retention rate was 108%, compared to 110% as of April 30, 2022.
- ARR was $373.9 million compared to $326.3 million as of April 30, 2022, representing ARR growth of 15%.
- Subscription revenue was $89.7 million, an increase of 14% year-over-year and 18% on a constant currency basis.
- 2Q24 outlook: Subscription revenue of $95.0M-$96.0M, Total revenue of $108M-$109.5M, Non-GAAP EPS $0.03-$0.04.
- The company raised FY24 outlook Subscription revenue $377M-$384M, Total revenue of $431M-$440M from prior guidance of $428M-$440M, Non-GAAP EPS $0.15-$0.17 from prior guidance of $0.07-$0.11, ARR growth 12% - 15%, Dollar-based retention rate 107%-109%.
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Zuora stock surges after it raises guidance, beats on earnings