Pluralsight (PS) Tops Q4 EPS by 1c, Revenues Beat; Offers Q1 & FY19 EPS/Revenue Guidance

Pluralsight (NASDAQ: PS) reported Q4 EPS of ($0.09), $0.01 better than the analyst estimate of ($0.10). Revenue for the quarter came in at $67.3 million versus the consensus estimate of $65.43 million.

“Pluralsight’s fourth quarter capped off a milestone year for the company, highlighted by strong customer additions and 42% revenue growth. We achieved our seventh consecutive quarter of greater than 50% growth in B2B billings, while continuing to demonstrate the inherent levers to profitability in our model,” said Aaron Skonnard, co-founder and CEO of Pluralsight.

Fourth Quarter Financial Highlights

• Billings - Q4 2018 billings were $100.6 million, an increase of 42% period over period. Q4 2018 billings from business customers were $87.1 million, an increase of 51% period over period.
• Revenue - Q4 2018 revenue was $67.3 million, an increase of 42% period over period.
• Gross margin - Q4 2018 gross margin was 76%, compared to 70% in Q4 2017. Q4 2018 non-GAAP gross margin was 77%, compared to 75% in Q4 2017.
• Net loss per share - GAAP net loss per share for Q4 2018 was $0.24. Adjusted pro forma net loss per share for Q4 2018 was $0.09, compared to $0.53 in Q4 2017.
• Cash flows - Cash provided by operations was $8.4 million for Q4 2018, compared to cash used in operations of $1.3 million in Q4 2017. Free cash flow was $5.2 million for Q4 2018, compared to negative free cash flow of $3.4 million in Q4 2017.

GUIDANCE:

Pluralsight sees Q1 2019 EPS of ($0.09)-($0.08), versus the consensus of ($0.09). Pluralsight sees Q1 2019 revenue of $68-68.5 million, versus the consensus of $67.43 million.

Pluralsight sees FY2019 EPS of ($0.32)-($0.26), versus the consensus of ($0.30). Pluralsight sees FY2019 revenue of $306-314 million, versus the consensus of $306.28 million.

For earnings history and earnings-related data on Pluralsight (PS) click here.

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