Slack Turns in Solid Fiscal Q4 Results

Slack had already released preliminary results for the quarter last week.
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Messaging platform Slack  (WORK) - Get Report reported fiscal Q4 revenues in line with the preliminary results it reported last week, while its adjusted net loss per share came in slightly better than analyst estimates.

Slack reported revenue of $250.6 million for the quarter and an adjusted net loss of 1 cent per share, compared to consensus estimates of a loss of 3 cents per share, according to FactSet.

Shares were up 0.23% to $40.04 after rising 0.75% during the day. Shares have risen almost 44% over the past 12 months.

Software maker Salesforce CRM said in December that it would buy Slack for cash and stock in a deal valued at $27.7 billion, but in mid-January, the Justice Department requested more information on the proposal. Salesforce still hopes to close the deal in the quarter ending July 31.

For the fiscal fourth quarter, Slack's total revenue grew 38% year-over-year, while calculated billings was $359.9 million, a 41% year-over-year-increase. Slack also added a record 14,000 new paid customers in the quarter, up 180% year-over-year, for a total of 156,000.

Total revenue for the 2021 fiscal year came in at $902.6 million, an increase of 43% over the previous year, while calculated billings were $1.04 billion, representing growth of 35% year-over-year.

“The past year has seen an unprecedented acceleration of digital transformation and a radical shift in the popular imagining of how the world uses software to work together,” said Stewart Butterfield, Slack’s CEO and co-founder, in a statement. “Slack was built for this. 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."