SendGrid, Inc. (SEND) Misses Q1 EPS by 3c, Beats on Revenues

SendGrid, Inc. (NYSE: SEND) reported Q1 EPS of ($0.03), $0.03 worse than the analyst estimate of $0.00. Revenue for the quarter came in at $32.6 million versus the consensus estimate of $32.06 million.

First Quarter Financial Highlights

• Total revenue of $32.6 million for the first quarter was up 31% compared with the first quarter of 2017.
• SendGrid’s Email API revenue of $25.9 million for the first quarter grew by 30% compared with the first quarter of 2017, representing 79% of total revenue, while Marketing Campaigns revenue grew by 102% to $5.4 million compared with the first quarter of 2017 and represented 17% of total revenue.
• Gross margin in the quarter was 73.9%, flat compared with the year-ago period.
• GAAP net loss in the quarter was $(1.3) million, or $(0.03) per share, compared with $(1.8) million, or $(0.23) per share, in the first quarter of 2017. First quarter 2018 net loss included $1.8 million of stock compensation expense, up from $0.6 million in the first quarter of 2017.
• Non-GAAP adjusted net income (ANI) was $1.0 million in the quarter, an increase of $1.0 million from first quarter 2017.
• Net cash flows from operating activities in the first quarter were $(0.04) million, with free cash flow of $(7.8) million, a $6.2 million decrease from first quarter 2017. This was driven by one-time costs related to moves to new offices, and typical seasonal employee-related expenses.
• The company ended the quarter with $168.6 million in cash and cash equivalents.

For earnings history and earnings-related data on SendGrid, Inc. (SEND) click here.

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