The week is coming to a close here on the East Coast, capping off a stock market run that most folks will be happy to forget. So, let’s end this Friday with some good-ish news.
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Good news, that is, if you are an investor, employee, or founder at Qualtrics, the latest unicorn looking to go public in 2018. When Qualtrics first filed just a bit ago, we were generally impressed with its performance. The firm had slim GAAP (a fancy acronym that means “while counting all costs”) losses and solid revenue growth that was mostly built with subscription dollars.
- Q3 revenue: $105.4 million (up from $97.1 million in Q2’18, up from $75.6 million in the year-ago quarter);
- Q3 gross profit: $78.1 million (up from $72.0 million in Q2’18, up from $54.9 million in the year-ago quarter);
- Q3 operating income: $5.6 million (up from $2.5 million in Q2’18, up from $4.7 million in the year-ago quarter);
- Q3 net income: $4.9 million (up from $975,000 in Q2’18, up from $4.7 million in the year-ago quarter).
Summing, Qualtrics grew while extending profitability over the sequentially preceding quarter (Q2’2018), and its year-ago quarter (Q3’2017). Very good!
In effect, Qualtrics added just over $8 million in revenue during the quarter while more than quintupling its second-quarter profit. As we said on the podcast, it’s a pretty darn good mix.