Q2 Non-GAAP EPS of -$0.20 beats by $0.05.
Revenue of $102.51M (+123.8% Y/Y) beats by $6.85M.
Annualized recurring revenue (ARR) increased 122% to $438.6 million as of July 31, 2022.
Total customer count grew about 60% to over 8,600 customers as of July 31, 2022. Customers with ARR over $100K grew 117% to 755 as of July 31, 2022. Dollar-based net revenue retention rate was a record 137%
GAAP gross margin was 65%, compared to 59%. Non-GAAP gross margin was 72%, compared to 62%.
Q3 2023 Guidance: Revenue expected to be $111M vs. consensus of $108.19M; Non-GAAP gross margin of 71%; and Non-GAAP operating margin of (57)%.
FY 2023 Guidance: Revenue expected to be in the range of $415-417 million vs. consensus of $406.30M; Non-GAAP gross margin of 70.5-71%; and Non-GAAP operating margin of (58)-(55)%
Strength in customer adds with organic record numbers of customer additions, DBNR again at record levels, strong revenue growth and ARR/new ARR and with good progress at GM level there was enormous leverage at the operating margin level with Operating Margin down to -57% from -98%. Clear strength in cross selling and also in International region. In the ER and call, management tried to break out some measures on an organic basis.