First Quarter 2022 Financial Highlights:
- Revenue of $127.3 million, an increase of 36% YoY.
- Annual Run-Rate Revenue (ARR) ended the quarter at $524 million, representing 35% YoY growth.
- Gross profit of $80.6 million or 63% of revenue and adjusted gross profit of $103.3 million or 81% of revenue.
- Loss from operations was $13.1 million and operating margin was (10)%.
- Non-GAAP income from operations was $13.6 million and non-GAAP operating margin was 11%.
- Net loss per share was $(0.17) and non-GAAP diluted net income per share was $0.07.
- Cash, cash equivalents, and marketable securities was $1.6 billion as of March 31, 2022.
First Quarter 2022 Operational Highlights:
- Net Dollar Retention Rate (NDR) was 117%, up from 107% in the first quarter 2021.
- Average Revenue Per Customer (ARPU) in the quarter was $68.90, an increase of 28% over the first quarter 2021.
- Total customers grew 6% to 623K and customers spending more than $50 per month grew 20% to 102K.
- Revenue from customers spending more than $50 per month grew 43% year-over-year. These customers had an NDR of 118% and now represent 84% of total revenue.
- Repurchased 2.6 million shares for $150.0 million utilizing the share repurchase program