Monday Q4 Earnings

Stock is down pretty harshly in PM, light volume, but doesn’t bold well for the open.

Q4 revenue: $95.5 M (8.6% beat, 15% QoQ and 90.6% YoY)
Q1 guidance: $102 M (6.8% sequentially which is strong and better than Q4’s guide)
FY '22 guide: $475 M (54% YoY)

I think guidance was okay’ish, if they beat by 10% they’ll finish the year at 72% YoY which is a pretty material slowdown from the previous year.

I think the stock is down due probably due to their profitability guidance:

Q1: -45 M in Non-GAAP Operating Loss (this is a big increase from Q4)
FY '22: -147 M in Non-GAAP Operating Loss (this is big too, increasing from -17% to -27% or so)

Their other metrics were pretty solid:

50K ARR customers grew to 793, 200% YoY, 29.4% sequentially (slight slowdown from 30% in the previous quarter), biggest increase QoQ in gross adds

NRR > 10 customers 135%+ up from 130%

GM still at 90% and up from 88.6% last year

Clearly a company investing in itself aggressively, but I guess the earnings call is going to be key since analysts will be very curious why operating margins are projected to get worse by a pretty material amount.