Medallia (MDLA) 2022 Q1 Financial Results

Medallia Inc (NYSE:MDLA), founded in 2001, operates customer and employee experience management platform. Its software tools help enterprises monitor the satisfaction level of their customers. Its AI-powered customer feedback management platform analyzes users’ interactions and offers actionable recommendations for improvement. Medallia went public in July 2019 by pricing its shares at $21 apiece for total proceeds of $326 million.

The company recently announced mixed financial results for the first quarter. Medallia reported a loss of 34 cents per share for the three months ended April 30, compared to a loss of 24 cents per share in the year-ago quarter. The company lost 8 cents per share on an adjusted basis, wider than the loss of 7 cents per share estimated by analysts.

Revenue for the quarter jumped 17 percent to $131.4 million, topping the consensus forecast of $127.6 million. Subscription revenue in the quarter increased 19 percent on a year-over-year basis to $106.1 million.

CEO Leslie Stretch expressed his satisfaction with the results. He said in a statement, “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. 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.”

Medallia also issued its revenue outlook for the second quarter. It is anticipating revenue in the range of $137 million to $139 million for the current quarter, translating to year-over-year growth of 19 to 20 percent.

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