Okta, Nutanix, Zuora beat earnings estimates

Okta, Nutanix, Zuora beat earnings estimates 1

Okta reported its second quarter financial results on Wednesday, beating market expectations but delivering a mixed Q3 outlook. 

The cloud identity management firm reported a non-GAAP net loss of $5.5 million, or 5 cents per share, on revenue of $140.5 million. By comparison, in Q2 2019, Okta’s net loss was $16.4 million, or 15 cents per share, on revenue of $94.59 million. 

Analysts were expecting a net loss of 11 cents per share on revenue of $131.18 million. 

“We had another exceptional quarter with strong growth in subscription revenue, billings, and remaining performance obligation,” CEO Todd McKinnon said in a statement. “Identity plays a foundational role as organizations look to adopt more cloud technologies and accelerate their businesses’ digital transformation in a highly secure and easy to use manner.”

Subscription revenue for the quarter came to $132.5 million, an increase of 51 percent year-over-year. Total calculated billings were $155.8 million, a 42 percent increase.

For the third quarter of fiscal 2020, Okta is expecting total revenue of $143 million to $144 million, with a non-GAAP net loss per share between 13 cents and 12 cents. 

Wall Street is expecting $140.53 million in Q3 revenue with a net loss of 9 cents. 

Nutanix, meanwhile, published its fourth quarter and full fiscal 2019 results. 

The company reported a non-GAAP net loss of $105.8 million, or 57 cents per share, on revenue of $299.9 million. A year prior, the company reported a non-GAAP net loss per share of 11 cents on revenue of $303.7 million. 

The decrease in revenue reflects a reduction of pass-thru hardware from $35.9 million in Q4 2018 to $13 million in Q4 2019, Nutanix said, as well as the company’s shift to a subscription business model.  

Wall Street was looking for a net loss of 64 cents per share on revenue of $293.86 million. 

For the full fiscal year 2019, Nutanix’s net loss per share was $1.51. Revenue totaled $1.24 billion, up from $1.16 billion in fiscal 2018. 

“We delivered a solid fourth quarter and believe our performance reflects our execution improvements and the meaningful progress we have made transitioning our business to a subscription model,” CEO Dheeraj Pandey said in a statement. “We are encouraged by our record gross margins, strengthening pipeline, progress in sales hiring, and recent large customer wins. We have a strong set of tenured sales leaders in place and continue to lead the industry as an innovator with technology at the forefront of hybrid cloud transformation.”

Software and support revenue in Q4 was $286.9 million, up 7 percent year-over-year. Billings in Q4 came to $371.7 million. 

Cloud-based subscription management company Zuora delivered better-than-expected second quarter financial results. The company reported a Q2 net loss of $20.8 million, or 19 cents a share. The non-GAAP net loss came to 9 cents per share on revenue of $69.7 million, up 21% year-over-year. Meanwhile, Zuora said subscription revenue came to $50.6 million, an increase of 24% year-over-year. 

Wall Street was expecting a non-GAAP net loss of 14 cents a share on revenue of $66.9 million. Shares of Zuora were up more than 7% after hours.

In terms of guidance, Zuora expects third quarter revenue in the range of $69 million to $71 million and a non-GAAP net loss between 10 cents and 9 cents. Analysts were expecting a loss of 9 cents and revenue of $70.08 million.

Tech Earnings

Okta, Nutanix, Zuora beat earnings estimates 2
About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews



bitcoin
Bitcoin (BTC) $ 44,807.00
ethereum
Ethereum (ETH) $ 3,150.98
cardano
Cardano (ADA) $ 2.25
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 382.85
xrp
XRP (XRP) $ 0.995371
solana
Solana (SOL) $ 149.36
polkadot
Polkadot (DOT) $ 32.74
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.223311
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 44,807.00
ethereumEthereum (ETH)
$ 3,150.98
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 550.24
litecoinLitecoin (LTC)
$ 163.56
bitcoinBitcoin (BTC)
38.206,79
ethereumEthereum (ETH)
2.686,83
tetherTether (USDT)
0,852697
bitcoin-cashBitcoin Cash (BCH)
469,19
litecoinLitecoin (LTC)
139,47
bitcoinBitcoin (BTC)
32,849.13
ethereumEthereum (ETH)
2,310.06
tetherTether (USDT)
0.733125
bitcoin-cashBitcoin Cash (BCH)
403.39
litecoinLitecoin (LTC)
119.91

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021

Blockchain/Cryptocurrency Questions and Answers

Beginner’s Guide to Investing in Cryptocurrency
August 9, 2021
Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021
Solana
What Is Solana (SOL) And How Does It Work?
June 26, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin44,787 0.11 % 2.86 % 7.05 %
Ethereum3,154.7 0.43 % 3.22 % 12.27 %
Cardano2.250 0.11 % 0.73 % 9.68 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Binance Coin383.15 0.22 % 1.23 % 10.88 %
XRP0.9968 0.03 % 0.50 % 10.91 %
Solana149.85 0.90 % 0.69 % 5.52 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
USD Coin1.000 0.13 % 0.24 % 0.14 %
Dogecoin0.2236 0.33 % 0.80 % 9.60 %

bitcoin
Bitcoin (BTC) $ 44,807.00
ethereum
Ethereum (ETH) $ 3,150.98
cardano
Cardano (ADA) $ 2.25
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 382.85
xrp
XRP (XRP) $ 0.995371
solana
Solana (SOL) $ 149.36
polkadot
Polkadot (DOT) $ 32.74
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.223311