- Q1 Subscription Revenue of $106.1 Million, up 19% Year-over-Year
- Q1 Total Revenue of $131.4 Million, up 17% Year-over-Year
Medallia, Inc. (NYSE: MDLA), the global leader in customer and employee experience, today announced financial results for the quarter ended April 30, 2021.
“I’m pleased with our performance in Q1. In addition to record subscription revenue we had our highest number of quarterly go-lives ever, as we added more new enterprise and mid-market customers,” said Leslie Stretch, President and CEO of Medallia. “We have more sales capacity and more product than at any other time in our history and more industry analysts validating our innovation leadership. We have strong geographic and vertical end-markets and more mature and effective alliances. Following record attendance at our Experience 21 conference we are focused on execution for the rest of the year and we see an opportunity to accelerate our subscription growth.”
Financial Highlights for the First Quarter of Fiscal 2022
- Total revenue for the quarter was $131.4 million, an increase of 17% from the same period last year. Subscription revenue was $106.1 million, an increase of 19% from the same period last year.
- Loss from operations for the quarter was $(50.1) million, compared to loss from operations of $(32.8) million in the same period last year. Non-GAAP loss from operations for the first quarter was $(10.5) million, compared to $3.5 million income from operations in the same period last year.
- Net loss for the quarter was $(52.4) million, or $(0.34) per share, basic and diluted, compared to net loss of $(32.5) million, or $(0.24) per share, basic and diluted, in the same period last year. Non-GAAP net loss was $(12.1) million, or $(0.08) per share, basic and diluted, compared to non-GAAP net income of $3.1 million, or $0.02 per share, diluted, in the same period last year.
- Cash, cash equivalents and marketable securities were $540.5 million as of April 30, 2021.
For information regarding the non-GAAP financial measures discussed in this press release, please see the section titled “Non-GAAP Financial Measures.” Reconciliations between GAAP and non-GAAP financial measures are provided in the tables of this press release.
Recent Company Highlights
- Recent wins with customers, including: Avianca Airlines, Chalhoub Group, Continental Properties, Coyote Logistics, Entain Group, Franciscan Health, Freemans Grattan Holdings (FGH), Hewlett Packard Enterprise, Marks & Spencer, Oracle, PHC Corporation of North America, Reale Mutua, Southwestern Health Resources, Terex, The Container Store, Valentino, Victoria University, Visier and Yorkshire Building Society.
- Several new product announcements at Experience including Adaptive Text Analytics, Market Research Suite, Medallia Digital Suite, Medallia Developer Network and Total Experience Profiles.
- Recognized as a leader in The Forrester Wave™: Customer Feedback Management Platforms.
- Achieved HITRUST CSF® Certification to manage risk, improve security posture, and meet compliance requirements.
- Achieved FedRAMP High Authorization.
- Medallia for ServiceNow’s HR Service Delivery platform (HRSD) has received certification with ServiceNow.
- Recognized as the Adobe Digital Experience Global ISV Partner of the Year.
- Recognized by Comparably as one of the best places to work in the San Francisco Bay Area.
Medallia will host a conference call at 1:30 p.m. PT (4:30 p.m. ET) today to discuss the first quarter of fiscal 2022 results and outlook for the second fiscal quarter and full fiscal year 2022. The conference call will be available via live webcast and replay at the Investor Relations section of Medallia’s website: https://investor.medallia.com/events-and-presentations/default.aspx.