Boston, MA 08/07/2014 (wallstreetpr) – Zendesk Inc (NYSE:ZEN) reported its second quarter results wherein the revenues shot up by 80% year-over-year to $29.5 million. There was good growth witnessed in customers’ accounts. It came higher by 40% year-over-year to 45,740. The GAAP operating loss came at $21.4 million, and non-GAAP operating loss came at $9.8 million.
Continuation Of The Trend
Zendesk Inc (NYSE:ZEN) had continued the trend started in the first quarter when it posted a strong set of numbers as a public company. The expansion of customer accounts and a rise in revenues is a clear indication of improvement in operating metrics. The company added more enterprise customers in the quarter. The core business got strength from the small and medium-sized enterprises.
The Impressive Figures
The revenues for the second quarter came at $29.5 million. It was a sharp rise of 80% year-over-year. It was the rise of 18% from the previous quarter. The GAAP net loss came at $21.7 million. The GAAP net loss came at $0.48 per share. Non-GAAP net loss stands at $10.1 million. The $0.16 non-GAAP net loss per share is exclusive of $11.1 million expenses incurred on share-based compensation. It also excludes amortization expenses of $0.5 million.
The cash and cash equivalents came at $120.1 million. It was inclusive of the net proceeds that came from initial public offering. The amount of $20.0 million was paid as the repayment for line of credit in the second-quarter.
The Future Outlook
The second-quarter financial results of Zendesk Inc (NYSE:ZEN) were ahead of the expectations. The company will reinvest in the growing business. The reinvestment will be done as per the requirement and will be balanced to provide a stable pace to the business model. Going ahead, Zendesk expects the revenue for third-quarter to come around $30.0 to $32.0 million. The GAAP operating loss is expected to narrow down to $19.5 to $20.5 million. The full year revenue of Zendesk Inc (NYSE:ZEN) is expected to come around $118 to $122 million.
