Qualtrics (XM) Reaffirms Estimated Preliminary Results for the Three Months Ending December 31, 2020
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Qualtrics (NASDAQ: XM), the leader in customer experience and creator of the experience management category, today reaffirms the estimated preliminary results as presented in its preliminary prospectus filed with the SEC on January 28, 2021.
The announcement by SAP SE ("SAP") of its fourth quarter 2020 results today contains certain of our financial results presented as an operating segment within SAP's reported financial results. These Euro-reported financial results are prepared under International Financial Reporting Standards, or IFRS, with selected financial measures presented on an IFRS and non-IFRS basis. The SAP segment results differ from our standalone financial results primarily due to: differences in reporting currency, differences between IFRS and U.S. generally accepted accounting principles, or GAAP, differences in the reporting of certain related party transactions between Qualtrics and SAP, and SAP's segment reporting of expenses related to certain corporate overhead functions.
Qualtrics will release full financial results for the fourth quarter and full year 2020, and hold a conference call at 3:00 p.m. (MT) after U.S. markets close on March 9, 2021. A live webcast and replay details of the event will be available on Qualtrics Investors Relations website at www.qualtrics.com/investors.
The estimated preliminary results presented in Qualtrics' preliminary prospectus were as follows:
Three Months EndedDecember 31, 2020
(unaudited, dollars in thousands)
Professional services and other
Cost of revenue:
Professional services and other
Total cost of revenue
Non-GAAP Financial Measures:
Non-GAAP gross profit
Non-GAAP gross margin
Non-GAAP operating loss
Non-GAAP operating margin
The unaudited selected financial results for the three months ended December 31, 2020 reflects our preliminary estimates with respect to such results based on currently available information and is not a comprehensive statement of our financial results which is subject to completion of our financial closing procedures. Our financial closing procedures for the three months ended December 31, 2020 are not yet complete and, as a result, our actual results may differ materially from these estimates. These estimates should not be viewed as a substitute for our full quarterly or annual financial statements prepared in accordance with U.S. GAAP.
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