Slack announces first results as an open company

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Slack (JOB) released its first earnings report as a publicly traded company after Wednesday's bell, beating net earnings and net income. "data-reactid =" 15 "> Slack (WORK) released its first earnings report as a listed company the day after Wednesday's bells, beating on the top and bottom line.

Here are the most important figures from the company's first report.

Despite figures that seemed relatively encouraging, the stock plunged to 13% after the trading session, with the company's outlook for the third quarter showing a loss slightly higher than current estimates. The stock closed up 8% over the day to $ 31.07.

Slack's forecast for the third quarter of 2020 included a loss of between $ 0.08 per share and $ 0.09 per share. Analysts, however, were looking for expected losses of $ 0.07 per share.

Slack's business model essentially consists of offering free office automation services to small businesses, while charging large companies and those looking for increased functionality.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "In his S1 depot, the company revealed that in January 2019, more than 500,000 organizations were using the free version of the courier service. "data-reactid =" 34 "> In its S1 filing, the company revealed that in January 2019, more than 500,000 organizations used the free version of the courier service.

In April, Slack had up to 95,000 paid customer organizations. In the three months to April 2019, 43% of Slack's revenues came from 645 paid organizations that spent more than $ 100,000 a year.

According to Bloomberg, this represents approximately 1% of Slack's total customer base. The company is expected to add 75 customers who paid more than $ 100,000 a year in the second quarter of 2020, up from 61 in the same quarter last year.

Slack Bloomberg's business figure will slow in the near term as it continues to grow in the corporate sector. The company recorded a 52% increase over the fiscal year 2020 compared to 82% in 2019. Sales should continue to slow 2021.

<p class = "canvas-atom web-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The slack has a lot of competition in the business one of the main competitors is Microsoft (MSFT), which is likely to cut Slack's business via his Teams email service. "data-reactid =" 38 "> Slack is very competitive in the business messaging industry, one of its major competitors is Microsoft (MSFT), which is likely to cut the business of Slack via the Teams Enterprise Mail Service.

Slack and Teams both offer third-party application integration and can be used for free or via a subscription with enhanced features.

Like Lyft and Uber, both of whom filed IPOs this year, Slack admitted that she was not making money – and that she might never do it. It all depends on the number of business customers that the company can convince to spend for its services.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "More from Dan:"data-reactid =" 41 ">More from Dan:

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Email Daniel Howley at [email protected]; follow him on Twitter at @DanielHowley."data-reactid =" 47 ">Email Daniel Howley at [email protected]; follow him on Twitter at @DanielHowley.

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