Zuora Reports Subscription Revenue Growth of 39 Percent in Q1
A strong first quarter following an April IPO
In its first financial report since completing its initial public offering on April 12, Zuora, Inc. (NYSE: ZUO), a cloud-based subscription billing and management platform provider, reported impressive growth for the period ended April 30, 2018. Total revenue for the first fiscal quarter 2019 was $51.7 million, a 60 percent increase year-over-year. Subscription revenue was $36.1 million, a 39 percent increase year-over-year. Subscription revenue represents 69.8 percent of total revenue. The balance of revenue comes from professional services, totaling $15.6 million.
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