Vocera Communications, Inc. (VCRA) Tops Q1 EPS by 4c, Revenues Beat; Withdraws FY20 Guidance

Vocera Communications, Inc. (NYSE: VCRA) reported Q1 EPS of ($0.14), $0.04 better than the analyst estimate of ($0.18). Revenue for the quarter came in at $40.7 million versus the consensus estimate of $37.53 million.

First quarter of 2020 financial highlights include:

• Total revenue of $40.7 million, compared to $35.3 million last year
• GAAP net loss per share of $(0.33); non-GAAP diluted loss per share of $(0.14)
• GAAP net loss of $(10.5) million; Adjusted EBITDA of $(2.0) million
• Deferred revenue and backlog combined of $125.0 million as of March 31, 2020, an increase of 5% over last year

“Q1 was a strong quarter for us, especially in these challenging and uncertain times. I’m extremely proud of our team’s quick response to the global COVID-19 crisis and how we rushed to help our customers care for patients while keeping their teams safe,” said Brent Lang, Chairman and Chief Executive Officer of Vocera. “Despite the elevated uncertainty in the market, I believe we are creating lasting goodwill and meaningful use cases that demonstrate compelling value. Safety is at the heart of our mission, and we believe the current crisis only underscores our long-term thesis.”

Guidance

As a result of the increased level of uncertainty created by COVID-19, the Company withdraws its previously issued full year 2020 financial guidance that was provided on February 6th, 2020. Further detail around the Company’s business performance will be shared on the Company’s earnings call.

For earnings history and earnings-related data on Vocera Communications, Inc. (VCRA) click here.

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