Revenue Up for Qualtrics

Experience Management (XM) pioneer Qualtrics has reported first quarter revenue up 36% to $238.6m, and also says it turned an operating loss into a small (non-GAAP) profit during the period.

SAP-owned and Provo, Utah-based Qualtrics provides solutions for clients to continually assess and improve the four 'core experiences': CustomerXM, EmployeeXM; ProductXM, and BrandXM. The firm has had an extraordinary rise to prominence over the last three years (although it's never had trouble raising large amounts of capital) having been snapped up in November 2018 by software giant SAP for $8bn and then valued briefly after a partial IPO earlier this year at an industry-topping $15.3bn.

In the latest results, subscription revenue rose more rapidly than the total figure, up 46% to $186.9m, and the company forecasts that it will make up around 80% of all income this year (total revenue forecast between $980 and $984m, subscription revenue between $768 and $772m). On a reported basis, Q1 operating loss was ($196.6m), compared to ($36.9m) one year ago, but the indicative non-GAAP comparison looks much better, with loss of ($24.1m) turned into income of $6.8m.

CEO Zig Serafin (pictured) described it as 'an outstanding quarter... and a powerful start to our fiscal year', adding: Organizations around the world are in the middle of an important transformation - an experience transformation - and Qualtrics has never been more relevant or impactful'.

The firm is online at www.qualtrics.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.