Zuora Reports Third Quarter Fiscal 2023 Results
Zuora, Inc. (NYSE: ZUO), a leading monetization platform provider for recurring revenue businesses, today announced financial results for its fiscal third quarter ended October 31, 2022
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Dec 6, 2022--
Zuora, Inc. (NYSE: ZUO), a leading monetization platform provider for recurring revenue businesses, today announced financial results for its fiscal third quarter ended October 31, 2022.
“We delivered third quarter results at the high end of guidance as companies across industries continue to lean into recurring revenue models. At the same time we’re making adjustments to our business to deliver meaningful profitability improvement in fiscal 2024,” said Tien Tzuo, founder and CEO of Zuora.
“We posted third quarter total revenue at the high end of our outlook, and we exceeded guidance for subscription revenue and non-GAAP operating income despite the economic environment, which has changed over the past 90 days. The macroeconomic dynamic has led us to make the difficult decision to reduce our workforce by 11% to align our expenses to our near-term growth profile and improve profitability in the near-term,” said Todd McElhatton, Chief Financial Officer at Zuora.
