Qualtrics International Inc (XM) stock started the Wednesday, April 21, 2021, in a negative mode and lost 0.059% in normal trading session but in the after-hours, it gained 13.69%. XM has moved up by 3.27% in the past week.
Let’s have a look at the latest developments about the company.
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Recent Financial Results
On April 21, 2021, Qualtrics announced financial results for the first quarter ended March 31, 2021.
Q1 2021 financial highlights
- Qualtrics’ total revenue for the first quarter of 2021 was $238.6 million compared to $176.1 million in Q1 2020.
- It suffered a $196.6 million operational loss in Q1 2021compared to $36.9millionin the prior-year quarter.
- Q1 2021, Non-GAAP operating income was $6.8 million, compared to a non-GAAP operating loss of $24.1 million in Q1 2020.
- Qualtrics net income for the first quarter of 2021 was $9 million, or $0.41per share, compared to $44.8million, or $0.11per share in the first quarter of 2020.
- Non-GAAP net income for Q1 2021 was $5.3 million, or $0.01per share, compared to a non-GAAP net loss of $31.9 million, or $0.08 per share in the prior-year quarter.
- As of March 31, 2021, the total cash and cash equivalents were $586.5 million.
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The financial outlook for Q2 2021
For Q2, 2021 ending on June 30, 2021, Qualtrics is expecting
- Total revenue for Q2 2021 to be between $240 and $242 million.
- The non-GAAP operating margin between (1)% and 0%.
- Non-GAAP net loss per share between $(0.03) and $(0.01) assuming 515 million weighted shares outstanding.
The financial outlook for FY 2021
For FY 2021 ending on December 31, 2021, Qualtrics has updated its financial figures and expecting
- Total revenue between $980and $984 million for FY 2021.
- The non-GAAP operating margin between 3% and 2%.
- Non-GAAP net loss per share between $0.13and $0.11
Introducing new products
On April 13, 2021, Qualtrics announced its two new products DesignXM and Experience Design studio
The latest products will enhance most companies’ ability to design the new products, services, and experiences their customers want now, and next.
New operating system launched
On April 13, 2021, Qualtrics revealed the new operating system for experience management XM operating system or XM/OS.
The new operating system will enable companies to take actions by bringing together all of their experience data, feedback from their customers and employees.
Expanding Strategic Partnership with IBM Japan
On April 8, 2021, Qualtrics Japan and IBM Japan Ltd announced a new strategic partnership to help organizations rapidly access and realize the full value of the Qualtrics Experience Management Platform.
According to the agreement, IBM Japan will be the first-ever certified Qualtrics reseller and will provide one-stop support to Qualtrics customers in Japan.
Conclusion
The XM stock surged in after-hours after the company announced its financial figures which were quite impressive as compared to the same quarter in 2020. XM stock can continue its positive momentum on Thursday as well.
