Sumo Logic (NASDAQ: SUMO), the SaaS analytics platform to enable
reliable and secure cloud-native applications, today announced
financial results for the fourth quarter and fiscal year 2023 ended
January 31, 2023.
Fourth Quarter
Fiscal 2023 Financial
Highlights
- Revenue was $79.8 million, an
increase of 19% year over year
- GAAP gross margin was 72%; non-GAAP
gross margin was 75%
- GAAP operating loss was $28.1
million; GAAP operating margin was (35)%
- Non-GAAP operating loss was $4.0
million; non-GAAP operating margin was (5)%
- GAAP net loss was $27.9 million, or
$0.23 per share
- Non-GAAP net loss was $3.8 million,
or $0.03 per share
- Net cash used in operating
activities was $5.2 million; free cash flow was $(5.8) million
- Cash and cash equivalents and
marketable securities were $343.4 million as of
January 31, 2023
Full Year Fiscal
2023 Financial Highlights
- Revenue was $300.7 million, an
increase of 24% year over year
- Annual Recurring Revenue (ARR) was
$301.6 million, an increase of 17% year over year
- GAAP gross margin was 68%; non-GAAP
gross margin was 72%
- GAAP operating loss was $126.9
million; GAAP operating margin was (42)%
- Non-GAAP operating loss was $37.6
million; non-GAAP operating margin was (12)%
- GAAP net loss was $124.8 million,
or $1.06 per share
- Non-GAAP net loss was $35.5
million, or $0.30 per share
- Net cash used in operating
activities was $27.4 million; free cash flow was $(29.4)
million
Recent Highlights
- Recognized as a Stronger Performer
in The Forrester Wave: Security Analytics Platforms.
Transaction with Francisco
Partners
In a separate press release issued on February
9, 2023, Sumo Logic announced that it has entered into a definitive
agreement (the Merger) to be acquired by entities affiliated with
Francisco Partners Management, L.P. (Francisco Partners). A
copy of the press release and supplemental materials can be found
on the investor relations page of Sumo Logic's website at
investors.sumologic.com. The additional details and information
about the terms and conditions of the definitive agreement and the
transactions are available in the Current Report on Form 8-K filed
by Sumo Logic with the Securities and Exchange Commission (SEC) on
February 9, 2023.
Given the announced transaction, Sumo Logic will
not host an earnings conference call or provide financial guidance
in conjunction with this earnings release. Sumo Logic is also
withdrawing its previous financial guidance as a result of the
pending transaction. For further detail and discussion of Sumo
Logic's financial performance please refer to Sumo Logic's Annual
Report on Form 10-K for the quarter and fiscal year ended January
31, 2023, which will be filed subsequently with the SEC.
Supplemental Financial and Other
Information
Supplemental financial and other information can
be accessed through Sumo Logic’s investor relations website at
investor.sumologic.com. Sumo Logic uses the investor relations
section on its website as the means of complying with its
disclosure obligations under Regulation FD. Accordingly, we
recommend that investors should monitor Sumo Logic’s investor
relations website in addition to following Sumo Logic’s press
releases, SEC filings, and social media.
Non-GAAP Financial Measures
In addition to our financial information
presented in accordance with GAAP, we believe the following
non-GAAP financial measures are useful in evaluating our operating
performance. We use the following non-GAAP financial measures,
collectively, to evaluate our ongoing operations and for internal
planning and forecasting purposes, including the preparation of our
annual operating budget and quarterly forecasts, to evaluate the
effectiveness of our business strategies, and to communicate with
our board of directors concerning our financial performance. We
believe that non-GAAP financial measures, when taken together with
the corresponding GAAP financial measures, may be helpful to
investors because they provide consistency and comparability with
past financial performance and meaningful supplemental information
regarding our performance by excluding certain items that may not
be indicative of our business, results of operations, or outlook.
The non-GAAP financial measures are presented for supplemental
informational purposes only, have limitations as analytical tools,
and should not be considered in isolation or as a substitute for
financial information presented in accordance with GAAP and may be
different from similarly-titled non-GAAP financial measures used by
other companies. In addition, other companies, including companies
in our industry, may calculate similarly-titled non-GAAP financial
measures differently or may use other measures to evaluate their
performance, all of which could reduce the usefulness of our
non-GAAP financial measures as tools for comparison. Investors are
encouraged to review the related GAAP financial measures and the
reconciliation of these non-GAAP financial measures to their most
directly comparable GAAP financial measures, and not to rely on any
single financial measure to evaluate our business, which it
includes in press releases announcing quarterly financial results,
including this press release.
Non-GAAP gross profit, non-GAAP gross
margin, non-GAAP operating expenses, non-GAAP loss from operations,
non-GAAP operating margin, non-GAAP net loss, and non-GAAP net loss
per share: We define these non-GAAP financial measures as
their respective GAAP measures, excluding stock-based compensation
expense and related employer payroll taxes, amortization of
acquired intangible assets, acquisition-related expenses, expenses
related to a cooperation agreement, expenses related to a U.S.
Department of Justice antitrust interlock inquiry, and transaction
costs related to the Merger. We use these non-GAAP financial
measures as part of our overall assessment of our performance,
including the preparation of our annual operating budget and
quarterly forecasts, to evaluate the effectiveness of our business
strategies, and to communicate with our board of directors
concerning our financial performance.
Free cash flow: We define free
cash flow as cash used in operating activities less purchases of
property and equipment and capitalized internal-use software costs.
We believe free cash flow is a useful indicator of liquidity that
provides our management, board of directors, and investors with
information about our future ability to generate or use cash to
enhance the strength of our balance sheet and further invest in our
business and pursue potential strategic initiatives.
Please see the reconciliation tables at the end
of this release for the reconciliation of GAAP and non-GAAP
results.
Forward-Looking Statements
This press release contains express and implied
forward-looking statements including but not limited to, statements
regarding our pending acquisition by Francisco Partners,
expectations regarding the benefits of our offerings, our growth
strategy and investments, our market opportunity, the potential
impact of the macro environment, and our ability to achieve
success. Forward-looking statements are subject to a number of
risks and uncertainties, many of which involve factors or
circumstances that are beyond our control. Our actual results could
differ materially from those stated or implied in forward-looking
statements due to a number of factors, including but not limited to
our ability to realize the anticipated benefits from our
acquisitions, the impact of the proposed transaction with Francisco
Partners on our ability to retain and hire key personnel and
maintain relationships with customers and suppliers and the risk
that it may not be completed in a timely manner or at all, our
ability to achieve and maintain future profitability, our ability
to attract new customers and retain and sell additional
functionality and services to our existing customers, our ability
to sustain and manage our growth, our ability to successfully add
new features and functionality to our platform, our ability to
compete effectively in an increasingly competitive market, and
general market, political, economic, and business conditions,
including the impact of the recent economic downturn, inflation,
and COVID-19, and other risks detailed in our Quarterly Report on
Form 10-Q for the fiscal quarter ended October 31, 2022 filed with
the SEC on December 6, 2022 and other filings and reports that we
may file from time to time with the SEC. Additional information
will be made available in our Annual Report on Form 10-K for the
year ended January 31, 2023 that will be filed with the SEC,
which should be read in conjunction with this press release and the
financial results included herein.
Past performance is not necessarily indicative
of future results. The forward-looking statements included in this
press release represent our views as of the date of this press
release. These forward-looking statements should not be relied upon
as representing our views as of any date subsequent to the date of
this press release. We anticipate that subsequent events and
developments could cause our views to change. We undertake no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
About Sumo Logic
Sumo Logic, Inc. (NASDAQ: SUMO), empowers the
people who power modern, digital business. Through its SaaS
analytics platform, Sumo Logic enables customers to deliver
reliable and secure cloud-native applications. The Sumo Logic
Continuous Intelligence Platform™ helps practitioners and
developers ensure application reliability, secure and protect
against modern security threats, and gain insights into their cloud
infrastructures. Customers around the world rely on Sumo Logic to
get powerful real-time analytics and insights across observability
and security solutions for their cloud-native applications. For
more information, visit www.sumologic.com.
For more information, please contact:
Investor Relations ContactBryan
LiberatorIR@sumologic.com
Media ContactCarmen
Harrischarris@sumologic.com
Sumo Logic,
Inc.Condensed Consolidated Statements of
Operations(in thousands, except per share
data)(unaudited)
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
|
|
|
2023 |
|
|
|
2022 |
|
|
|
2023 |
|
|
|
2022 |
|
Revenue |
|
$ |
79,753 |
|
|
$ |
67,049 |
|
|
$ |
300,668 |
|
|
$ |
242,125 |
|
Cost of revenue |
|
|
22,329 |
|
|
|
22,751 |
|
|
|
97,551 |
|
|
|
78,308 |
|
Gross profit |
|
|
57,424 |
|
|
|
44,298 |
|
|
|
203,117 |
|
|
|
163,817 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
Research and development |
|
|
24,598 |
|
|
|
24,884 |
|
|
|
104,949 |
|
|
|
94,652 |
|
Sales and marketing |
|
|
39,770 |
|
|
|
36,011 |
|
|
|
153,383 |
|
|
|
131,311 |
|
General and administrative |
|
|
21,195 |
|
|
|
13,871 |
|
|
|
71,649 |
|
|
|
59,129 |
|
Total operating expenses |
|
|
85,563 |
|
|
|
74,766 |
|
|
|
329,981 |
|
|
|
285,092 |
|
Loss from operations |
|
|
(28,139 |
) |
|
|
(30,468 |
) |
|
|
(126,864 |
) |
|
|
(121,275 |
) |
Interest and other income (expense), net |
|
|
1,616 |
|
|
|
(24 |
) |
|
|
5,031 |
|
|
|
10 |
|
Interest expense |
|
|
(59 |
) |
|
|
(41 |
) |
|
|
(173 |
) |
|
|
(174 |
) |
Loss before provision for income taxes |
|
|
(26,582 |
) |
|
|
(30,533 |
) |
|
|
(122,006 |
) |
|
|
(121,439 |
) |
Provision (benefit) for income taxes |
|
|
1,314 |
|
|
|
3,033 |
|
|
|
2,809 |
|
|
|
1,926 |
|
Net loss |
|
$ |
(27,896 |
) |
|
$ |
(33,566 |
) |
|
$ |
(124,815 |
) |
|
$ |
(123,365 |
) |
|
|
|
|
|
|
|
|
|
Net loss per share, basic and diluted |
|
$ |
(0.23 |
) |
|
$ |
(0.30 |
) |
|
$ |
(1.06 |
) |
|
$ |
(1.13 |
) |
|
|
|
|
|
|
|
|
|
Weighted-average shares used to compute net loss per share, basic
and diluted |
|
|
121,172 |
|
|
|
112,303 |
|
|
|
117,836 |
|
|
|
108,695 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sumo Logic,
Inc.Condensed Consolidated Balance
Sheets(in thousands)(unaudited)
|
|
January 31,2023 |
|
January 31,2022 |
Assets |
|
|
|
|
Current assets: |
|
|
|
|
Cash and cash equivalents |
|
$ |
76,496 |
|
|
$ |
79,986 |
|
Marketable securities, current |
|
|
225,643 |
|
|
|
210,645 |
|
Accounts receivable, net |
|
|
58,366 |
|
|
|
49,451 |
|
Prepaid expenses |
|
|
9,063 |
|
|
|
9,792 |
|
Deferred sales commissions, current |
|
|
19,699 |
|
|
|
17,110 |
|
Other current assets |
|
|
2,545 |
|
|
|
2,865 |
|
Total current assets |
|
|
391,812 |
|
|
|
369,849 |
|
Marketable securities, noncurrent |
|
|
41,213 |
|
|
|
65,866 |
|
Property and equipment, net |
|
|
4,852 |
|
|
|
4,960 |
|
Operating lease right-of-use assets |
|
|
1,381 |
|
|
|
6,110 |
|
Goodwill |
|
|
94,213 |
|
|
|
94,967 |
|
Acquired intangible assets, net |
|
|
12,709 |
|
|
|
26,221 |
|
Deferred sales commissions, noncurrent |
|
|
30,670 |
|
|
|
32,689 |
|
Other assets |
|
|
2,248 |
|
|
|
1,469 |
|
Total assets |
|
$ |
579,098 |
|
|
$ |
602,131 |
|
Liabilities and stockholders’ equity |
|
|
|
|
Current liabilities: |
|
|
|
|
Accounts payable |
|
$ |
17,279 |
|
|
$ |
7,755 |
|
Accrued expenses and other current liabilities |
|
|
26,793 |
|
|
|
25,425 |
|
Operating lease liabilities, current |
|
|
1,641 |
|
|
|
4,619 |
|
Deferred revenue, current |
|
|
150,484 |
|
|
|
131,329 |
|
Total current liabilities |
|
|
196,197 |
|
|
|
169,128 |
|
Operating lease liabilities, noncurrent |
|
|
22 |
|
|
|
2,346 |
|
Deferred revenue, noncurrent |
|
|
1,658 |
|
|
|
5,944 |
|
Other liabilities |
|
|
6,111 |
|
|
|
5,744 |
|
Total liabilities |
|
|
203,988 |
|
|
|
183,162 |
|
|
|
|
|
|
Stockholders’ equity: |
|
|
|
|
Common stock |
|
|
12 |
|
|
|
11 |
|
Additional paid-in-capital |
|
|
1,027,627 |
|
|
|
944,447 |
|
Accumulated other comprehensive loss |
|
|
(6,558 |
) |
|
|
(4,333 |
) |
Accumulated deficit |
|
|
(645,971 |
) |
|
|
(521,156 |
) |
Total stockholders’ equity |
|
|
375,110 |
|
|
|
418,969 |
|
Total liabilities and stockholders’ equity |
|
$ |
579,098 |
|
|
$ |
602,131 |
|
|
|
|
|
|
|
|
|
|
Sumo Logic,
Inc.Condensed Consolidated Statement of Cash
Flows(in thousands)(unaudited)
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
|
|
|
2023 |
|
|
|
2022 |
|
|
|
2023 |
|
|
|
2022 |
|
Cash flows from operating activities |
|
|
|
|
|
|
|
|
Net loss |
|
$ |
(27,896 |
) |
|
$ |
(33,566 |
) |
|
$ |
(124,815 |
) |
|
$ |
(123,365 |
) |
Adjustments to reconcile net loss to net cash used in operating
activities: |
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
2,997 |
|
|
|
4,292 |
|
|
|
15,564 |
|
|
|
14,181 |
|
Amortization of deferred sales commissions |
|
|
5,375 |
|
|
|
4,494 |
|
|
|
20,194 |
|
|
|
15,847 |
|
Amortization (accretion) of marketable securities purchased at a
premium (discount) |
|
|
(675 |
) |
|
|
914 |
|
|
|
740 |
|
|
|
3,070 |
|
Stock-based compensation, net of amounts capitalized |
|
|
13,560 |
|
|
|
15,019 |
|
|
|
63,493 |
|
|
|
54,146 |
|
Non-cash operating lease cost |
|
|
955 |
|
|
|
1,046 |
|
|
|
3,953 |
|
|
|
4,178 |
|
Other |
|
|
(285 |
) |
|
|
2,326 |
|
|
|
(502 |
) |
|
|
474 |
|
Changes in operating assets and liabilities, net of impact of
acquisitions: |
|
|
|
|
|
|
|
|
Accounts receivable |
|
|
(2,053 |
) |
|
|
(6,104 |
) |
|
|
(8,975 |
) |
|
|
(4,194 |
) |
Prepaid expenses |
|
|
739 |
|
|
|
847 |
|
|
|
721 |
|
|
|
714 |
|
Other assets |
|
|
369 |
|
|
|
(254 |
) |
|
|
(169 |
) |
|
|
850 |
|
Deferred sales commissions |
|
|
(5,789 |
) |
|
|
(8,747 |
) |
|
|
(20,764 |
) |
|
|
(24,999 |
) |
Accounts payable |
|
|
(707 |
) |
|
|
(1,458 |
) |
|
|
9,549 |
|
|
|
2,825 |
|
Accrued expenses and other current liabilities |
|
|
4,827 |
|
|
|
(217 |
) |
|
|
2,233 |
|
|
|
1,589 |
|
Deferred revenue |
|
|
4,105 |
|
|
|
13,022 |
|
|
|
14,869 |
|
|
|
29,458 |
|
Operating lease liabilities |
|
|
(1,082 |
) |
|
|
(1,142 |
) |
|
|
(4,410 |
) |
|
|
(4,513 |
) |
Other liabilities |
|
|
367 |
|
|
|
(1,017 |
) |
|
|
961 |
|
|
|
(752 |
) |
Net cash used in operating activities |
|
|
(5,193 |
) |
|
|
(10,545 |
) |
|
|
(27,358 |
) |
|
|
(30,491 |
) |
Cash flows from investing activities |
|
|
|
|
|
|
|
|
Purchases of marketable securities |
|
|
(80,273 |
) |
|
|
(65,137 |
) |
|
|
(265,269 |
) |
|
|
(424,724 |
) |
Maturities of marketable securities |
|
|
63,138 |
|
|
|
44,550 |
|
|
|
245,701 |
|
|
|
102,508 |
|
Sales of marketable securities |
|
|
2,753 |
|
|
|
26,251 |
|
|
|
27,855 |
|
|
|
41,731 |
|
Purchases of property and equipment |
|
|
— |
|
|
|
(459 |
) |
|
|
(386 |
) |
|
|
(2,258 |
) |
Capitalized internal-use software costs |
|
|
(644 |
) |
|
|
(182 |
) |
|
|
(1,630 |
) |
|
|
(182 |
) |
Cash paid for acquisitions, net of cash and restricted cash
acquired |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(40,340 |
) |
Net cash provided by (used in) investing activities |
|
|
(15,026 |
) |
|
|
5,023 |
|
|
|
6,271 |
|
|
|
(323,265 |
) |
Cash flows from financing activities |
|
|
|
|
|
|
|
|
Payments of deferred offering costs |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(93 |
) |
Proceeds from employee stock purchase plan |
|
|
1,757 |
|
|
|
3,252 |
|
|
|
4,588 |
|
|
|
7,977 |
|
Proceeds from exercise of common stock options |
|
|
3,084 |
|
|
|
4,352 |
|
|
|
14,563 |
|
|
|
22,326 |
|
Cash paid for holdback consideration in connection with
acquisitions |
|
|
— |
|
|
|
— |
|
|
|
(456 |
) |
|
|
— |
|
Net cash provided by financing activities |
|
|
4,841 |
|
|
|
7,604 |
|
|
|
18,695 |
|
|
|
30,210 |
|
Effect of exchange rate changes on cash and cash equivalents |
|
|
212 |
|
|
|
(434 |
) |
|
|
(1,098 |
) |
|
|
(608 |
) |
Change in cash and cash equivalents and restricted cash |
|
|
(15,166 |
) |
|
|
1,648 |
|
|
|
(3,490 |
) |
|
|
(324,154 |
) |
Cash and cash equivalents and restricted cash: |
|
|
|
|
|
|
|
|
Beginning of period |
|
|
91,962 |
|
|
|
78,638 |
|
|
|
80,286 |
|
|
|
404,440 |
|
End of period |
|
$ |
76,796 |
|
|
$ |
80,286 |
|
|
$ |
76,796 |
|
|
$ |
80,286 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sumo Logic,
Inc.Reconciliation of GAAP to Non-GAAP Financial
Measures(in thousands, except per share data and
percentages)(unaudited)
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
|
|
|
2023 |
|
|
|
2022 |
|
|
|
2023 |
|
|
|
2022 |
|
Reconciliation of gross profit and gross
margin |
|
|
|
|
|
|
|
|
GAAP gross profit |
|
$ |
57,424 |
|
|
$ |
44,298 |
|
|
$ |
203,117 |
|
|
$ |
163,817 |
|
Add: Stock-based compensation expense and related employer payroll
taxes |
|
|
350 |
|
|
|
296 |
|
|
|
1,455 |
|
|
|
854 |
|
Add: Amortization of acquired intangible assets |
|
|
1,985 |
|
|
|
3,596 |
|
|
|
12,380 |
|
|
|
11,753 |
|
Add: Acquisition-related expenses |
|
|
97 |
|
|
|
79 |
|
|
|
325 |
|
|
|
230 |
|
Non-GAAP gross profit |
|
$ |
59,856 |
|
|
$ |
48,269 |
|
|
$ |
217,277 |
|
|
$ |
176,654 |
|
GAAP gross margin |
|
|
72 |
% |
|
|
66 |
% |
|
|
68 |
% |
|
|
68 |
% |
Non-GAAP gross margin |
|
|
75 |
% |
|
|
72 |
% |
|
|
72 |
% |
|
|
73 |
% |
|
|
|
|
|
|
|
|
|
Reconciliation of operating expenses |
|
|
|
|
|
|
|
|
GAAP research and development |
|
$ |
24,598 |
|
|
$ |
24,884 |
|
|
$ |
104,949 |
|
|
$ |
94,652 |
|
Less: Stock-based compensation expense and related employer payroll
taxes |
|
|
(6,811 |
) |
|
|
(6,864 |
) |
|
|
(28,700 |
) |
|
|
(24,363 |
) |
Less: Acquisition-related expenses |
|
|
(124 |
) |
|
|
(242 |
) |
|
|
(721 |
) |
|
|
(777 |
) |
Non-GAAP research and development |
|
$ |
17,663 |
|
|
$ |
17,778 |
|
|
$ |
75,528 |
|
|
$ |
69,512 |
|
|
|
|
|
|
|
|
|
|
GAAP sales and marketing |
|
$ |
39,770 |
|
|
$ |
36,011 |
|
|
$ |
153,383 |
|
|
$ |
131,311 |
|
Less: Stock-based compensation expense and related employer payroll
taxes |
|
|
(4,119 |
) |
|
|
(4,590 |
) |
|
|
(18,230 |
) |
|
|
(16,397 |
) |
Less: Amortization of acquired intangible assets |
|
|
(150 |
) |
|
|
(150 |
) |
|
|
(600 |
) |
|
|
(383 |
) |
Less: Acquisition-related expenses |
|
|
(97 |
) |
|
|
(97 |
) |
|
|
(378 |
) |
|
|
(278 |
) |
Non-GAAP sales and marketing |
|
$ |
35,404 |
|
|
$ |
31,174 |
|
|
$ |
134,175 |
|
|
$ |
114,253 |
|
|
|
|
|
|
|
|
|
|
GAAP general and administrative |
|
$ |
21,195 |
|
|
$ |
13,871 |
|
|
$ |
71,649 |
|
|
$ |
59,129 |
|
Less: Stock-based compensation expense and related employer payroll
taxes |
|
|
(2,508 |
) |
|
|
(3,458 |
) |
|
|
(16,038 |
) |
|
|
(14,279 |
) |
Less: Acquisition-related expenses |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(3,756 |
) |
Less: Expenses related to a cooperation agreement |
|
|
(23 |
) |
|
|
— |
|
|
|
(2,627 |
) |
|
|
— |
|
Less: Expenses related to a U.S. Department of Justice antitrust
interlock inquiry |
|
|
(350 |
) |
|
|
— |
|
|
|
(350 |
) |
|
|
— |
|
Less: Transaction costs related to the Merger |
|
|
(7,500 |
) |
|
|
— |
|
|
|
(7,500 |
) |
|
|
— |
|
Non-GAAP general and administrative |
|
$ |
10,814 |
|
|
$ |
10,413 |
|
|
$ |
45,134 |
|
|
$ |
41,094 |
|
|
|
|
|
|
|
|
|
|
Reconciliation of operating loss and operating
margin |
|
|
|
|
|
|
|
|
GAAP loss from operations |
|
$ |
(28,139 |
) |
|
$ |
(30,468 |
) |
|
$ |
(126,864 |
) |
|
$ |
(121,275 |
) |
Add: Stock-based compensation expense and related employer payroll
taxes |
|
|
13,788 |
|
|
|
15,208 |
|
|
|
64,423 |
|
|
|
55,893 |
|
Add: Amortization of acquired intangible assets |
|
|
2,135 |
|
|
|
3,746 |
|
|
|
12,980 |
|
|
|
12,136 |
|
Add: Acquisition-related expenses |
|
|
318 |
|
|
|
418 |
|
|
|
1,424 |
|
|
|
5,041 |
|
Add: Expenses related to a cooperation agreement |
|
|
23 |
|
|
|
— |
|
|
|
2,627 |
|
|
|
— |
|
Add: Expenses related to a U.S. Department of Justice antitrust
interlock inquiry |
|
|
350 |
|
|
|
— |
|
|
|
350 |
|
|
|
— |
|
Add: Transaction costs related to the Merger |
|
|
7,500 |
|
|
|
— |
|
|
|
7,500 |
|
|
|
— |
|
Non-GAAP operating loss |
|
$ |
(4,025 |
) |
|
$ |
(11,096 |
) |
|
$ |
(37,560 |
) |
|
$ |
(48,205 |
) |
GAAP operating margin |
|
|
(35 |
)% |
|
|
(45 |
)% |
|
|
(42 |
)% |
|
|
(50 |
)% |
Non-GAAP operating margin |
|
|
(5 |
)% |
|
|
(17 |
)% |
|
|
(12 |
)% |
|
|
(20 |
)% |
|
|
|
|
|
|
|
|
|
Reconciliation of net loss |
|
|
|
|
|
|
|
|
GAAP net loss |
|
$ |
(27,896 |
) |
|
$ |
(33,566 |
) |
|
$ |
(124,815 |
) |
|
$ |
(123,365 |
) |
Add: Stock-based compensation expense and related employer payroll
taxes |
|
|
13,788 |
|
|
|
15,208 |
|
|
|
64,423 |
|
|
|
55,893 |
|
Add: Amortization of acquired intangible assets |
|
|
2,135 |
|
|
|
3,746 |
|
|
|
12,980 |
|
|
|
12,136 |
|
Add: Acquisition-related expenses |
|
|
318 |
|
|
|
418 |
|
|
|
1,424 |
|
|
|
5,041 |
|
Add: Expenses related to a cooperation agreement |
|
|
23 |
|
|
|
— |
|
|
|
2,627 |
|
|
|
— |
|
Add: Expenses related to a U.S. Department of Justice antitrust
interlock inquiry |
|
|
350 |
|
|
|
— |
|
|
|
350 |
|
|
|
— |
|
Add: Transaction costs related to the Merger |
|
|
7,500 |
|
|
|
— |
|
|
|
7,500 |
|
|
|
— |
|
Non-GAAP net loss |
|
$ |
(3,782 |
) |
|
$ |
(14,194 |
) |
|
$ |
(35,511 |
) |
|
$ |
(50,295 |
) |
GAAP net loss per share |
|
$ |
(0.23 |
) |
|
$ |
(0.30 |
) |
|
$ |
(1.06 |
) |
|
$ |
(1.13 |
) |
Non-GAAP net loss per share |
|
$ |
(0.03 |
) |
|
$ |
(0.13 |
) |
|
$ |
(0.30 |
) |
|
$ |
(0.46 |
) |
Weighted average shares outstanding, basic and diluted |
|
|
121,172 |
|
|
|
112,303 |
|
|
|
117,836 |
|
|
|
108,695 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sumo Logic,
Inc.Reconciliation of GAAP to Non-GAAP Financial
Measures (Continued)(in thousands)(unaudited)
|
|
Three Months Ended January 31, |
|
Year Ended January 31, |
|
|
|
2023 |
|
|
|
2022 |
|
|
|
2023 |
|
|
|
2022 |
|
Reconciliation of cash used in operating activities to free
cash flow |
|
|
|
|
|
|
|
|
GAAP cash used in operating activities |
|
$ |
(5,193 |
) |
|
$ |
(10,545 |
) |
|
$ |
(27,358 |
) |
|
$ |
(30,491 |
) |
Less: Purchases of property and equipment |
|
|
— |
|
|
|
(459 |
) |
|
|
(386 |
) |
|
|
(2,258 |
) |
Less: Capitalized internal-use software costs |
|
|
(644 |
) |
|
|
(182 |
) |
|
|
(1,630 |
) |
|
|
(182 |
) |
Free cash flow |
|
$ |
(5,837 |
) |
|
$ |
(11,186 |
) |
|
$ |
(29,374 |
) |
|
$ |
(32,931 |
) |
Grafico Azioni Sumo Logic (NASDAQ:SUMO)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Sumo Logic (NASDAQ:SUMO)
Storico
Da Giu 2023 a Giu 2024