WalkMe (WKME) delivered earnings and revenue surprises of 250% and 0.70%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
User support software provider WalkMe (NASDAQ: WKME) reported results in line with analysts' expectations in Q1 CY2024, with revenue up 4.1% year on year to $68.57 million. The company expects next quarter's revenue to be around $69.5 million, in line with analysts' estimates. It made a non-GAAP profit of $0.07 per share, improving from its loss of $0.08 per share in the same quarter last year.
1Q24 Revenue of $68.6 million at the high end of the guidance range. 1Q24 Non-GAAP Operating Income of $4.4 million or 6% compared to a loss of ($8.8) million or (13%) in 1Q23.Record high Free Cash Flow of $16.6 million and 24% margin compared to cash burn of ($8.3) million and (13%) in 1Q23.Introducing WalkMeX, the industry’s first always on, contextual AI copilot that proactively delivers next best actions to users across any workflow or application. SAN FRANCISCO, May 22, 2024 (GLOBE NEWSWIRE