Qualtrics International Inc. (NASDAQ: (XM) stock surged by 1.82% at last close while the XM stock price continues to move up by 7.44%, post third-quarter financial results. Qualtrics, the pioneer and inventor of the Experience Management (XM) category, is transforming how businesses manage and enhance their four key business experiences: client, employee, product, and brand.
XM stock’ Financial Update
Qualtrics International reported its financial outcomes for the third quarter of 2021. Given below is the summary:
- For the third quarter of 2021, the net revenue was $271.6 million. This is an increase of 41% from the third quarter of 2020 when the net revenue was $192.8 million.
- The total loss for Q3 of 2021 was $286.0 million relative to $85.7 million in the third quarter of the fiscal year 2020.
- The operating loss for the third quarter was calculated as $277.5 million, as opposed to $82.0 million a year ago. Non-GAAP operating income was $13.3 million, up from $2.5 million the previous year. The GAAP operating margin was 102 percent in Q3 2021, while the company generated a non-GAAP operating margin of 5%.
- Cash and Cash equivalents by September 30, 2021, were $589.9 million.
CEO of the company, Zig Serafin stated,
Third Quarter 2021 has proved to be an outstanding quarter for the company. The company’s leadership has not been better than this before. XM is on its way to developing and defining the category that they made. Companies across the board are speeding up their quality of experience, and they’re quickly turning to Qualtrics to maintain high-quality interactions with their clients and staff.
Future Expectations
- The company is expecting a revenue between $296-$298 million and $1056 million- $1058 million for the fourth quarter and full 2021, respectively.
- The anticipated subscription revenue for the fourth quarter and full-year 201 is $242-$244 million and $854-$856 million, respectively.
- XM is expecting an operating margin of around 1% to 0% for the fourth quarter of 2021 and 2.5% to 3% for the full year of 2021.
- And lastly, Non-GAAP total loss per share could be between $0.04 million and $0.02 million for the fourth quarter of 2021. However, the Non-GAAP net loss for the full year 2021 is expected to be around $0.02 to $0.04 million.
