Slack said Q1 revenue was up 67% with over 95,000 paid customers

Slack has released its fiscal first quarter financial results ahead of its direct listing on the New York Stock Exchange later this month.

Slack has released its fiscal first quarter financial results ahead of its direct listing on the New York Stock Exchange later this month. The workplace collaboration player had a Q1 net loss of $31.8 million, or 26 cents per share. Last month Slack said its net loss would increase due to product investments and spending to support growth. 

On a non-GAAP basis the net loss per share was 23 cents, on revenue of $134.8 million, an increase of 67% year-over-year. Slack said billings came to $149.6 million, up 47% year-over-year.

Slack said in its S-1 filing back in April that its workplace collaboration platform had more than 10 million daily active users and more than 88,000 paid customers. Today the company said it now has over 95,000 paid customers, with 645 of those paid customers bringing Slack annual recurring revenue greater than $100,000. 

In terms of guidance, Slack expects a second net loss per share of 20 to 19 cents, with revenue in the range of $139 million to $141 million. For the year, the company expects a net loss of 44 cents to 41 cents per share, with revenue between $590 million and $600 million.

Slack is scheduled to direct list -- a process in which existing shareholders sell stock directly to investors -- on June 20.

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