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Jul 31, 2023
Zuora Q2 2024 Earnings Report
Reported solid results, executing strategy and delivering on guidance.
Key Takeaways
Zuora reported a solid second quarter, achieving 9% year-over-year revenue growth and demonstrating progress in its strategy to capitalize on the increasing adoption of recurring revenue models.
Subscription revenue increased by 14% year-over-year, or 16% on a constant currency basis.
Total revenue increased by 9% year-over-year, or 11% on a constant currency basis.
Operating cash flow improved to $5.4 million, compared to negative $4.8 million in the previous year.
Adjusted free cash flow improved to $4.0 million, compared to negative $7.5 million in the previous year.
Forward Guidance
Zuora provided guidance for the third quarter and full fiscal year 2024, anticipating continued growth in subscription revenue, total revenue, and non-GAAP income from operations.
Positive Outlook
- Subscription revenue is expected to be between $96.5 million and $97.5 million for Q3 2024.
- Total revenue is projected to be between $107.5 million and $109.5 million for Q3 2024.
- Non-GAAP income from operations is expected to be between $10.0 million and $11.0 million for Q3 2024.
- Non-GAAP net income per share is projected to be between $0.05 and $0.06 for Q3 2024.
- Adjusted Free Cash Flow of $28.0M+
Historical Earnings Impact
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Avg. Return Before/After Earnings
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