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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.
Zuora
Zuora
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+