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Apr 30, 2022
Zuora Q1 2023 Earnings Report
Reported first quarter fiscal 2023 results with subscription revenue and total revenue exceeding guidance.
Key Takeaways
Zuora's first quarter fiscal 2023 demonstrated the resilience of the recurring revenue model with total revenue increasing 16% year-over-year to $93.2 million and subscription revenue increasing 21% year-over-year to $78.5 million.
Total revenue was $93.2 million, an increase of 16% year-over-year.
Subscription revenue was $78.5 million, an increase of 21% year-over-year.
GAAP loss from operations was $23.7 million, compared to a loss from operations of $17.4 million in the first quarter of fiscal 2022.
Free cash flow was $3.7 million compared to $8.6 million in the first quarter of fiscal 2022.
Zuora
Zuora
Zuora Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional services Revenue
CapyFin.com Forward Guidance
Zuora provided guidance for the second quarter and full year fiscal 2023, reflecting the impact of the Silver Lake investment.
Positive Outlook
- Second Quarter Fiscal 2023 Subscription revenue expected to be $82.0M - $83.0M
- Second Quarter Fiscal 2023 Total revenue expected to be $96.5M - $98.5M
- Full Year Fiscal 2023 Subscription revenue expected to be $339.0M - $341.0M
- Full Year Fiscal 2023 Total revenue expected to be $402.0M - $406.0M
- Fiscal Year 2023 ARR Growth expected to be 21% or higher
Challenges Ahead
- Second Quarter Fiscal 2023 Non-GAAP loss from operations expected to be ($2.0M) - ($1.0M)
- Second Quarter Fiscal 2023 Non-GAAP net loss per share expected to be ($0.06) - ($0.05)
- Full Year Fiscal 2023 Non-GAAP loss from operations expected to be ($2.0M) - $0.0M
- Full Year Fiscal 2023 Non-GAAP net loss per share expected to be ($0.19) - ($0.15)
- Fiscal Year 2023 Free Cash Flow expected to be $6.0M - $9.0M
Revenue & Expenses
Visualization of income flow from segment revenue to net income