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Slack Shares Down After Reporting Q4 Loss

Updated: 16 Mar 2021

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.

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