Sam is a trader and one of our lead stock analysts at AskTraders. After starting his career predominantly in the forex markets, Sam now focuses on gold and stocks with a preference for macroeconomic analysis.
Slack Technologies (NYSE: WORK) reported a Q4 loss of $0.01 on Thursday evening, resulting in its share price falling premarket on Friday.
The result is an improvement on the $0.04 loss the previous year.
The company also reported total revenue of $250.6 million for the quarter, a 38% increase year over year. Calculated billings were $359.9 million, up 41% year over year, while Slack also said it gained a record 14,000 net new paid customers, bringing the total to 156,000.
1,183 of those customers provide the company with over $100,000 in annual recurring revenue, up 32% from the previous year, and 108 paid customers provide a yearly recurring revenue of over $1 million, up 54%.
“We had a record-setting year, crossing over the $1 billion revenue run rate mark thanks to breakthrough product innovation that helps customers unlock all of the opportunity that exists in the new digital-first world of work,” said Stewart Butterfield, CEO and Co-Founder at Slack.
“Looking ahead, we will continue to innovate and execute by expanding the Slack Connect network, attracting more new Paid Customers, and deepening the breadth and depth of Slack’s open platform,” added Butterfield.
Slack shares are down 3.63% premarket at $38.50.
Should you invest in Slack shares?
Tech stocks offer some of the best growth potential, but time and time again, traders and investors ask us “what are the best tech stocks to buy?” You've probably seen shares of companies such as Amazon and Netflix achieve monumental rises in the past few years, but there are still several tech stocks with room for significant gains. Here is our analysts view on the best tech stocks to buy right now
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .