Earnings Review and Free Research Report: Exa’s Revenue Grew 2%; Earnings Met Estimates

Research Desk Line-up: QAD Inc. Post Earnings Coverage

LONDON, UK / ACCESSWIRE / September 18, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Exa Corp. (NASDAQ: EXA), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=EXA, following the Company's announcement of its financial results on August 28, 2017, for the second quarter fiscal 2018. The Company's total revenue increased 2% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Application Software industry. Pro-TD has currently selected QAD Inc. (NASDAQ: QAD) for due-diligence and potential coverage as the Company reported on August 24, 2017, its financial results for Q2 FY18. Register for a free membership today, and be among the early birds that get access to our report on QAD Inc. when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on EXA; also brushing on QAD. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

For three months ended July 31, 2017, Exa's total revenue increased 2%, or 3% on a constant currency basis, to $17.45 million from $17.11 million in Q2 FY17. For the reported quarter, the Company's license revenue increased 3%, or 4% on a constant currency basis, to $15.20 million from $14.81 million in Q2 FY17. During Q2 FY18, the Company's project revenue decreased 2% to $2.25 million from $2.30 million in the same period last year.

During Q2 FY18, Exa's EBITDA was negative $1.16 million compared to positive $588,000 in Q2 FY17. During Q2 FY18, Exa's adjusted EBITDA was negative $41 million compared to positive $1.03 million in the same period last year.

During Q2 FY18, Exa's sales and marketing (S&M) expenses increased 2.9% to $3.49 million from $3.39 million in Q2 FY17. For the reported quarter, the Company's research and development (R&D) expenses increased 13% to $6.80 million from $6.02 million in Q2 FY17. During Q2 FY18, the Company's general and administrative (G&A) expenses increased 21.4% to $4.20 million from $3.46 million in Q2 FY17.

During Q2 FY18, the Company's operating loss was $2.37 million compared to operating loss of $392,000 in Q2 FY17. For the reported quarter, Exa's adjusted operating loss was $1.17 million compared to adjusted operating income of $133,000 in Q2 FY17.

During Q2 FY18, Exa's net loss was $2.64 million compared to $678,000 in Q2 FY17. For the reported quarter, Exa's adjusted net loss was $1.85 million compared to an adjusted net loss of $337,000 in Q2 FY17. For the reported quarter, the Company's diluted EPS was negative $0.18 compared to negative $0.05 in Q2 FY17. During Q2 FY18, Exa's adjusted diluted EPS was negative $0.12 compared to negative $0.02 in Q2 FY17 and was in-line with Wall Street's estimates of negative $0.12 per share.

Balance Sheet

As on July 31, 2017, Exa's cash and cash equivalents decreased 24.9% to $18.43 million from $24.55 million in Q4 FY17.

During Q2 FY18, the Company's account receivables decreased 36.4% to $15.44 million from $24.26 million in Q4 FY17.

For the reported quarter, Exa's accounts payable decreased 42% to $2.68 million from $4.62 million in Q4 FY17.

During H1 FY18, the Company's cash provided by operating activities was negative $2.11 million compared to positive $6.73 million in H1 FY17.

Outlook

For Q3 FY18, Exa expects total revenue to be in the range of $19.4 million to $21.2 million and adjusted EBITDA to be in the range of $2.0 million to $3.0 million. The Company expects net income to be in the range of negative $700,000 to positive $300,000 for Q3 FY18.

For FY18, Exa expects total revenue to be in the range of $76.0 million to $80.0 million and adjusted EBITDA to be in the range of $6.0 million to $8.2 million. The Company expects net loss to be in the range of $5.7 million to $3.5 million and adjusted net loss to be in the range of $2.7 million to $0.5 million for fiscal 2018.

Stock Performance

On Friday, September 15, 2017, the stock closed the trading session at $15.76, rising 4.58% from its previous closing price of $15.07. A total volume of 115.51 thousand shares have exchanged hands, which was higher than the 3-month average volume of 46.55 thousand shares. Exa Corp.'s stock price advanced 13.22% in the last one month, 15.63% in the past three months, and 14.20% in the previous six months. Furthermore, since the start of the year, shares of the Company have gained 2.60%. The stock currently has a market cap of $226.31 million.

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