Slack Technologies Inc forecast slowing revenue growth in the second half and a ...
Microsoft disclosed in July it had over 13 million daily active users, above Slack’s more than 10 million.
Slack’s total operating expenses in the quarter skyrocketed 317.6% to $477.5 million. It said sales and marketing expenses were expected to accelerate in the second half and exceed 50% of revenue. Slack went public via a direct listing on June 20, instead of the more popular initial public offering route. Its shares soared nearly 50% in their public trading debut, valuing it at more than $23 billion.The company also said it was seeing great traction in its “shared channels” feature, which is currently in beta and will be available to all Slack customers later this month.
Slack’s adjusted second-quarter loss of 14 cents per share was smaller than the 18 cents analysts had expected. Slack also raised its full-year revenue forecast and now expects its loss for the year to be smaller. Slack said net loss attributable to common stockholders ballooned to $359.6 million, or 98 cents per share, in the second quarter, from $31.9 million, or 26 cents per share, a year earlier, primarily because of $307 million of stock-based compensation.
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