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Slack Announces Record Third Quarter Fiscal Year 2020 Results

Q3FY20 total revenue of $168.7 million up 60% year-over-year

Non-GAAP operating margin improved 26 percentage points year-over-year

Added 101 Paid Customers with over $100,000 in annual recurring revenue

Exceeded 50 Paid Customers with over $1 million in annual recurring revenue

Slack Technologies, Inc., (NYSE: WORK) today reported financial results for its fiscal quarter ended October 31, 2019.

Management Commentary:

"Shared channels went into general availability in mid-September after an extensive beta period. Since then the rate of adoption has accelerated," said Stewart Butterfield, Chief Executive Officer and Co-Founder at Slack. "This is our most exciting product release in collaboration since we first launched Slack."

"Revenue growth was 60% year-over-year, driven by strong growth upmarket," said Allen Shim, Chief Financial Officer at Slack. "We ended the quarter with 821 Paid Customers greater than $100,000 in annual recurring revenue, which is up 67% year-over-year. We also exceeded 50 Paid Customers with greater than $1 million in annual recurring revenue for the first time, an indication that large enterprises are increasingly standardizing on Slack as their primary collaboration platform."

Board of Directors Update:

Effective today, Slack appointed Michael McNamara to its board of directors. Slack also announced that Chamath Palihapitiya will be stepping down from its board of directors.

Third Quarter Fiscal 2020 Financial Highlights:

  • Total revenue was $168.7 million, an increase of 60% year-over-year.
  • Calculated Billings was $186.1 million, an increase of 47% year-over-year.
  • GAAP gross profit was $145.6 million, or 86.3% gross margin, compared to $92.1 million, or 87.2% gross margin, in the third quarter of fiscal year 2019. Non-GAAP gross profit was $148.9 million, or 88.3% gross margin, compared to $92.5 million, or 87.5% gross margin, in the third quarter of fiscal year 2019.
  • GAAP operating loss was $95.0 million, or 56% of total revenue, compared to a $50.8 million loss in the third quarter of fiscal year 2019, or 48% of total revenue. Non-GAAP operating loss was $18.1 million, or 11% of total revenue, compared to a $39.6 million loss in the third quarter of fiscal year 2019, or 37% of total revenue.
  • GAAP net loss per basic and diluted share was $0.16. Non-GAAP net loss per share was $0.02.
  • Net cash used in operations was $9.1 million, or 5% of total revenue, compared to cash used in operations of $28.4 million, or 27% of total revenue, for the third quarter of fiscal year 2019. Free Cash Flow was $(19.1) million, or 11% of total revenue, compared to $(43.5) million, or 41% of total revenue for the third quarter of fiscal year 2019.

Recent Business Highlights:

  • Third Quarter Highlights:
    • Ended the quarter with over 105,000 Paid Customers, up 30% year-over-year.
    • Net dollar retention rate was 134%.
    • The number of Paid Customers with greater than $100,000 in annual recurring revenue was 821, up 67% year-over-year.
    • The number of Paid Customers with greater than $1 million in annual recurring revenue exceeded 50 for the first time.
    • Announced general availability of shared channels and Workflow Builder.
    • Ended the quarter with over 26,000 Paid Customers using shared channels, up from over 20,000 at the end of last quarter.

Financial Outlook:

For the fourth quarter of fiscal year 2020, Slack currently expects:

  • Total revenue of $172 million to $174 million, representing year-over-year growth of 41% to 43%.
  • Non-GAAP operating loss of $36 million to $34 million.
  • Non-GAAP net loss per share of $0.07 to $0.06, assuming weighted average shares outstanding of 550 million.

For the full fiscal year 2020, Slack currently expects:

  • Total revenue of $621 million to $623 million, representing year-over-year growth of 55% to 56%.
  • Non-GAAP operating loss of $144 million to $142 million, including approximately $30 million of one-time direct listing related expenses.
  • Non-GAAP net loss per share of $0.32 to $0.31, assuming weighted average shares outstanding of 399 million.
  • Calculated Billings of $745 million to $760 million, representing year-over-year growth of 44% to 47%.
  • Free Cash Flow net burn of $85 million to $80 million, including approximately $30 million of one-time direct listing-related expenses and $21 million of one-time direct listing related cash taxes related to RSU vesting.

Non-GAAP Financial Measures:

This press release and the accompanying tables contain the following non-GAAP financial measures: calculated billings, free cash flow, non-GAAP gross profit, non-GAAP gross margin, non-GAAP sales and marketing expenses, non-GAAP research and development expenses, non-GAAP general and administrative expenses, non-GAAP operating loss, non-GAAP operating margin, non-GAAP net loss, and non-GAAP net loss per share. Certain of these non-GAAP financial measures exclude stock-based compensation and amortization of intangible assets.

Slack believes that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Slack’s financial condition and results of operations. Slack’s management uses these non-GAAP measures to compare Slack’s performance to that of prior periods for trend analysis, and for budgeting and planning purposes. Slack believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing Slack’s financial measures with other software companies, many of which present similar non-GAAP financial measures to investors. The non-GAAP financial information is presented for supplemental informational purposes only, and should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly-titled non-GAAP measures used by other companies.

Management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in Slack’s financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. Slack urges investors to review the reconciliation of its non-GAAP financial measures to the comparable GAAP financial measures, which it includes in press releases announcing quarterly financial results, including this press release, and not to rely on any single financial measure to evaluate Slack’s business.

Reconciliation tables of the most comparable GAAP financial measures to the non-GAAP financial measures used in this press release are included with the financial tables at the end of this release. Slack has not reconciled its outlook as to non-GAAP operating loss and non-GAAP net loss per share to their most directly comparable GAAP measure because certain items are out of Slack’s control or cannot be reasonably predicted. Accordingly, a reconciliation for forward-looking non-GAAP operating loss and non-GAAP net loss per share is not available without unreasonable effort.

Forward-Looking Statements:

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our financial outlook and market positioning. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as "guidance," "expect," "anticipate," "should," "believe," "hope," "target," "project," "plan," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall" and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Slack’s control. Slack’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in Slack’s Quarterly Report on Form 10-Q for the quarter ended July 31, 2019. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that Slack makes with the Securities and Exchange Commission from time to time, including its Quarterly Report on Form 10-Q for the quarter ended October 31, 2019. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: Slack’s recent growth rates may not be indicative of its future growth; Slack may experience quarterly fluctuations in its results of operations due to a number of factors that make its future results difficult to predict and could cause its results of operations to fall below analyst or investor expectations or to fluctuate more than expected; Slack may fail to manage its growth effectively and may be unable to execute its business plan or maintain high levels of service and customer satisfaction; real or perceived errors, failures, vulnerabilities, or bugs in Slack could harm Slack’s business, results of operations, and financial condition; a security incident may allow unauthorized access to Slack’s systems, networks, or data or the data of organizations on Slack, harm its reputation, create additional liability, and harm its financial results; any actual or perceived failure by Slack to comply with privacy, data protection, information security, consumer privacy, data residency, or telecommunications laws, regulations, government access requests, and obligations in one or multiple jurisdictions could result in proceedings, actions, or penalties against Slack and could harm its business and reputation; the risk of interruptions or performance problems, including a service outage, associated with Slack’s technology or infrastructure; the market and software categories in which Slack participates are competitive, new, and rapidly changing, and if it does not compete effectively with established companies as well as new market entrants its business, results of operations, and financial condition could be harmed; a protracted infringement claim, a claim that results in a significant damage award, or a claim that results in an injunction could harm Slack’s results of operations; adverse general economic and market conditions; Slack’s ability to attract and retain qualified employees and key personnel; changes in foreign exchange rates; general political or destabilizing events, including war, conflict or acts of terrorism; and other risks and uncertainties. Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent Slack’s views as of the date of this press release. Slack anticipates that subsequent events and developments will cause its views to change. Slack undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing Slack’s views as of any date subsequent to the date of this press release.

Additional information regarding these and other factors that could affect Slack’s results is included in Slack’s SEC filings, which may be obtained by visiting our Investor Relations website at investor.slackhq.com or the SEC's website at www.sec.gov.

Earnings Webcast:

Slack will hold a public webcast at 2:00 p.m. PST today to discuss the results for its third quarter fiscal 2020 and financial outlook. The live public call can be accessed by dialing (866) 211-3197 within the U.S., and (647) 689-6597 internationally. The conference ID is 8097657. The webcast replay and audio download will also be available on our Investor Relations website at investor.slackhq.com.

Investor Presentation Details:

An investor presentation providing additional information and analysis can be found at investor.slackhq.com.

About Slack:

Slack is where work happens. Slack is a new layer of the business technology stack that brings together people, applications and data – a hub for collaboration where people can effectively work together, access critical applications and services, and find important information to do their best work. People around the world use Slack to connect their teams, unify their systems and drive their business forward.

Slack and the Slack logo are trademarks of Slack Technologies, Inc. or its subsidiaries in the U.S. and/or other countries. Other names and brands may be claimed as the property of others.

SLACK TECHNOLOGIES, INC.

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

(In thousands, except per share data)

(Unaudited)

 

 

 

Three Months Ended October 31,

 

Nine Months Ended October 31,

 

 

2019

 

2018

 

2019

 

2018

Revenue

 

$

168,725

 

 

$

105,648

 

 

$

448,519

 

 

$

278,585

 

Cost of revenue

 

23,140

 

 

13,540

 

 

72,820

 

 

35,002

 

Gross profit

 

145,585

 

 

92,108

 

 

375,699

 

 

243,583

 

Operating expenses:

 

 

 

 

 

 

 

 

Research and development

 

94,853

 

 

40,990

 

 

363,725

 

 

111,582

 

Sales and marketing

 

96,210

 

 

67,687

 

 

299,440

 

 

163,408

 

General and administrative

 

49,524

 

 

34,185

 

 

209,624

 

 

79,361

 

Total operating expenses

 

240,587

 

 

142,862

 

 

872,789

 

 

354,351

 

Loss from operations

 

(95,002

)

 

(50,754

)

 

(497,090

)

 

(110,768

)

Other income (expense), net

 

7,135

 

 

3,376

 

 

17,323

 

 

7,263

 

Loss before income taxes

 

(87,867

)

 

(47,378

)

 

(479,767

)

 

(103,505

)

Provision (benefit) for income taxes

 

(101

)

 

318

 

 

(504

)

 

753

 

Net loss

 

(87,766

)

 

(47,696

)

 

(479,263

)

 

(104,258

)

Net income (loss) attributable to noncontrolling interest

 

1,395

 

 

(24

)

 

2,792

 

 

156

 

Net loss attributable to Slack common stockholders

 

$

(89,161

)

 

$

(47,672

)

 

$

(482,055

)

 

$

(104,414

)

Basic and diluted net loss per share:

 

 

 

 

 

 

 

 

Net loss per share attributable to Slack common stockholders, basic and diluted

 

$

(0.16

)

 

$

(0.39

)

 

$

(1.38

)

 

$

(0.86

)

Weighted-average shares used in computing net loss per share attributable to Slack common stockholders, basic and diluted

 

544,057

 

 

122,880

 

 

348,580

 

 

120,924

 

SLACK TECHNOLOGIES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)

 

 

 

October 31,
2019

 

January 31,
2019

ASSETS

 

 

 

 

Current assets:

 

 

 

 

Cash and cash equivalents

 

$

476,474

 

 

$

180,770

 

Marketable securities

 

297,632

 

 

660,301

 

Accounts receivable, net

 

84,977

 

 

87,438

 

Prepaid expenses and other current assets

 

58,811

 

 

54,213

 

Total current assets

 

917,894

 

 

982,722

 

Restricted cash

 

38,490

 

 

20,490

 

Strategic investments

 

24,215

 

 

12,334

 

Property and equipment, net

 

109,806

 

 

88,359

 

Intangible assets, net

 

12,104

 

 

15,203

 

Goodwill

 

48,598

 

 

48,598

 

Other assets

 

33,745

 

 

31,250

 

Total assets

 

$

1,184,852

 

 

$

1,198,956

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

Current liabilities:

 

 

 

 

Accounts payable

 

$

11,159

 

 

$

16,613

 

Accrued compensation and benefits

 

47,029

 

 

46,151

 

Accrued expenses and other current liabilities

 

44,641

 

 

29,809

 

Deferred revenue

 

302,690

 

 

239,825

 

Total current liabilities

 

405,519

 

 

332,398

 

Deferred revenue, noncurrent

 

1,234

 

 

2,048

 

Other liabilities

 

30,868

 

 

22,904

 

Total liabilities

 

437,621

 

 

357,350

 

Commitments and contingencies

 

 

 

 

Stockholders’ equity:

 

 

 

 

Convertible preferred stock

 

 

 

1,392,101

 

Common stock

 

55

 

 

13

 

Additional paid-in-capital

 

1,879,601

 

 

105,633

 

Accumulated other comprehensive income (loss)

 

13

 

 

(498

)

Accumulated deficit

 

(1,147,618

)

 

(665,563

)

Total Slack Technologies, Inc. stockholders’ equity

 

732,051

 

 

831,686

 

Noncontrolling interest

 

15,180

 

 

9,920

 

Total stockholders’ equity

 

747,231

 

 

841,606

 

Total liabilities and stockholders’ equity

 

$

1,184,852

 

 

$

1,198,956

 

SLACK TECHNOLOGIES, INC.

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(In thousands)

(Unaudited)

 

 

 

Three Months Ended October 31,

 

Nine Months Ended October 31,

 

 

2019

 

2018

 

2019

 

2018

Cash flows from operating activities:

 

 

 

 

 

 

 

 

Net loss

 

$

(87,766

)

 

$

(47,696

)

 

$

(479,263

)

 

$

(104,258

)

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

 

 

 

 

 

Depreciation and amortization

 

7,762

 

 

4,564

 

 

20,419

 

 

11,227

 

Loss on disposal of property and equipment

 

 

 

 

 

 

 

2,165

 

Stock-based compensation

 

73,861

 

 

10,515

 

 

363,287

 

 

18,271

 

Amortization of deferred contract acquisition costs

 

2,232

 

 

875

 

 

5,522

 

 

1,965

 

Net amortization of bond premium on debt securities available for sale

 

(341

)

 

(1,024

)

 

(2,077

)

 

(1,589

)

Change in fair value of strategic investments

 

(2,907

)

 

62

 

 

(5,791

)

 

(287

)

Other non-cash charges

 

(383

)

 

202

 

 

(742

)

 

500

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

Accounts receivable

 

(12,338

)

 

(6,181

)

 

2,920

 

 

(12,315

)

Prepaid expenses and other assets

 

(1,888

)

 

(27,205

)

 

(12,049

)

 

(38,053

)

Accounts payable

 

2,441

 

 

3,710

 

 

1,005

 

 

9,251

 

Accrued compensation and benefits

 

(18,879

)

 

6,820

 

 

879

 

 

7,488

 

Deferred revenue

 

17,401

 

 

20,809

 

 

62,051

 

 

64,719

 

Other current and long-term liabilities

 

11,706

 

 

6,174

 

 

20,935

 

 

17,462

 

Net cash used in operating activities

 

(9,099

)

 

(28,375

)

 

(22,904

)

 

(23,454

)

Cash flows from investing activities:

 

 

 

 

 

 

 

 

Purchases of marketable securities

 

(143,342

)

 

(366,729

)

 

(202,895

)

 

(734,778

)

Maturities of marketable securities

 

133,304

 

 

132,100

 

 

402,255

 

 

479,291

 

Sales of marketable securities

 

 

 

4,638

 

 

166,074

 

 

11,271

 

Acquisitions of businesses, net of cash acquired

 

 

 

(42,813

)

 

 

 

(45,313

)

Acquisition of intangible assets

 

 

 

(1,198

)

 

 

 

(2,382

)

Purchases of property and equipment

 

(10,007

)

 

(15,092

)

 

(38,276

)

 

(42,704

)

Sales of property and equipment

 

 

 

242

 

 

 

 

762

 

Capitalized software development costs

 

 

 

(415

)

 

 

 

(415

)

Purchase of strategic investments

 

(3,813

)

 

(710

)

 

(9,283

)

 

(1,610

)

Proceeds from liquidation of strategic investments

 

 

 

38

 

 

2,858

 

 

190

 

Net cash provided by (used in) investing activities

 

(23,858

)

 

(289,939

)

 

320,733

 

 

(335,688

)

Cash flows from financing activities:

 

 

 

 

 

 

 

 

Proceeds from exercise of stock options

 

1,337

 

 

775

 

 

11,612

 

 

2,637

 

Payment of contingent consideration for an acquisition

 

 

 

 

 

(5,000

)

 

 

Issuance of common stock for employee stock purchase plan

 

7,351

 

 

 

 

7,351

 

 

 

Net proceeds from issuance of convertible preferred stock

 

 

 

426,880

 

 

 

 

426,880

 

Repurchase of convertible preferred stock

 

 

 

 

 

 

 

 

Capital contributions from noncontrolling interest holders

 

3,840

 

 

 

 

3,840

 

 

 

Distributions to noncontrolling interest holders

 

(1,372

)

 

 

 

(1,372

)

 

 

Issuance of common stock to third party

 

 

 

 

 

 

 

6,084

 

Other financing activities

 

 

 

(32

)

 

(556

)

 

(47

)

Net cash provided by financing activities

 

11,156

 

 

427,623

 

 

15,875

 

 

435,554

 

Net increase (decrease) in cash, cash equivalents and restricted cash

 

(21,801

)

 

109,309

 

 

313,704

 

 

76,412

 

Cash, cash equivalents and restricted cash at beginning of period

 

536,765

 

 

105,166

 

 

201,260

 

 

138,063

 

Cash, cash equivalents and restricted cash at end of period

 

$

514,964

 

 

$

214,475

 

 

$

514,964

 

 

$

214,475

 

SLACK TECHNOLOGIES, INC.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(In thousands)

(Unaudited)

 

Calculated Billings

 

 

Three Months Ended October 31,

 

Nine Months Ended October 31,

 

 

2019

 

2018

 

2019

 

2018

Revenue

 

$

168,725

 

 

$

105,648

 

 

$

448,519

 

 

$

278,585

 

Add: Total deferred revenue, end of period

 

303,924

 

 

190,172

 

 

303,924

 

 

190,172

 

Less: Total deferred revenue, beginning of period

 

(286,523

)

 

(169,363

)

 

(241,873

)

 

(125,453

)

Calculated Billings

 

$

186,126

 

 

$

126,457

 

 

$

510,570

 

 

$

343,304

 

 

Free Cash Flow

 

 

Three Months Ended October 31,

 

Nine Months Ended October 31,

 

 

2019

 

2018

 

2019

 

2018

Net cash used in operating activities

 

$

(9,099

)

 

$

(28,375

)

 

$

(22,904

)

 

$

(23,454

)

Purchases of property and equipment

 

(10,007

)

 

(15,092

)

 

(38,276

)

 

(42,704

)

Free Cash Flow

 

$

(19,106

)

 

$

(43,467

)

 

$

(61,180

)

 

$

(66,158

)

SLACK TECHNOLOGIES, INC.

RECONCILIATION OF GAAP TO NON-GAAP DATA

(In thousands, except per share data)

(Unaudited)

 

 

 

 

 

 

 

Three Months Ended October 31,

 

Nine Months Ended October 31,

 

 

2019

 

2018

 

2019

 

2018

Reconciliation of gross profit:

 

 

 

 

 

 

 

 

GAAP gross profit

 

$

145,585

 

 

$

92,108

 

 

$

375,699

 

 

$

243,583

 

Add: Stock-based compensation and related employer payroll taxes

 

2,765

 

 

40

 

 

14,656

 

 

701

 

Add: Amortization of acquired intangible assets

 

558

 

 

337

 

 

1,675

 

 

356

 

Non-GAAP gross profit

 

$

148,908

 

 

$

92,485

 

 

$

392,030

 

 

$

244,640

 

 

 

 

 

 

 

 

 

 

Reconciliation of operating expenses:

 

 

 

 

 

 

 

 

GAAP research and development

 

$

94,853

 

 

$

40,990

 

 

$

363,725

 

 

$

111,582

 

Less: Stock-based compensation and related employer payroll taxes

 

(41,189

)

 

(3,532

)

 

(205,859

)

 

(7,871

)

Less: Amortization of acquired intangible assets

 

(150

)

 

(25

)

 

(449

)

 

(25

)

Non-GAAP research and development

 

$

53,514

 

 

$

37,433

 

 

$

157,417

 

 

$

103,686

 

 

 

 

 

 

 

 

 

 

GAAP sales and marketing

 

$

96,210

 

 

$

67,687

 

 

$

299,440

 

 

$

163,408

 

Less: Stock-based compensation and related employer payroll taxes

 

(18,085

)

 

(227

)

 

(87,788

)

 

(1,679

)

Less: Amortization of acquired intangible assets

 

(325

)

 

(325

)

 

(975

)

 

(379

)

Non-GAAP sales and marketing

 

$

77,800

 

 

$

67,135

 

 

$

210,677

 

 

$

161,350

 

 

 

 

 

 

 

 

 

 

GAAP general and administrative

 

$

49,524

 

 

$

34,185

 

 

$

209,624

 

 

$

79,361

 

Less: Stock-based compensation and related employer payroll taxes

 

(13,794

)

 

(6,716

)

 

(78,167

)

 

(8,020

)

Non-GAAP general and administrative

 

$

35,730

 

 

$

27,469

 

 

$

131,457

 

 

$

71,341

 

 

 

 

 

 

 

 

 

 

Reconciliation of loss from operations:

 

 

 

 

 

 

 

 

GAAP operating loss

 

$

(95,002

)

 

$

(50,754

)

 

$

(497,090

)

 

$

(110,768

)

Add: Stock-based compensation and related employer payroll taxes

 

75,833

 

 

10,515

 

 

386,470

 

 

18,271

 

Add: Amortization of acquired intangible assets

 

1,033

 

 

687

 

 

3,099

 

 

760

 

Non-GAAP operating loss

 

$

(18,136

)

 

$

(39,552

)

 

$

(107,521

)

 

$

(91,737

)

 

 

 

 

 

 

 

 

 

Reconciliation of net loss and net loss per share:

 

 

 

 

 

 

 

 

Net loss attributable to Slack common stockholders

 

$

(89,161

)

 

$

(47,672

)

 

$

(482,055

)

 

$

(104,414

)

Add: Stock-based compensation and related employer payroll taxes

 

75,833

 

 

10,515

 

 

386,470

 

 

18,271

 

Add: Amortization of acquired intangible assets

 

1,033

 

 

687

 

 

3,099

 

 

760

 

Non-GAAP net loss

 

$

(12,295

)

 

$

(36,470

)

 

$

(92,486

)

 

$

(85,383

)

 

 

 

 

 

 

 

 

 

GAAP net loss per share

 

$

(0.16

)

 

$

(0.39

)

 

$

(1.38

)

 

$

(0.86

)

Add: Stock-based compensation and related employer payroll taxes

 

0.14

 

 

0.09

 

 

1.10

 

 

0.15

 

Add: Amortization of acquired intangible assets

 

 

 

 

 

0.01

 

 

 

Non-GAAP net loss per share

 

$

(0.02

)

 

$

(0.30

)

 

$

(0.27

)

 

$

(0.71

)

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding, basic and diluted

 

544,057

 

 

122,880

 

 

348,580

 

 

120,924

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20191204005892/en/

Contacts

Jesse Hulsing
Investor Relations
ir@slack.com

Karesha McGee
Media Relations
pr@slack.com