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Cloud Player MuleSoft (MULE) Posts Solid Q2 Revenue Beat

MuleSoft (MULE) just released its second-quarter financial results, posting a loss of 15 cents per share and revenues of $69 million. Currently, MULE is a Zacks Rank #3 (Hold) and is down 0.15% to $26.35 per share in trading shortly after its earnings report was released.

MuleSoft:

Beat earnings estimates. The company posted earnings of -$0.15 per share, beating the Zacks Consensus Estimate of -$0.16.

Beat revenue estimates. The company saw revenue figures of $69.2 million, beating our consensus estimate $64 million.

GAAP gross margin was 73.5%, an increase of 40 basis points from the prior-year quarter.

The company now expects third-quarter revenue in the range of $71 million to $72 million. Non-GAAP net loss per share is expected to come in at 12 cents.

“We delivered strong growth performance in the second quarter and continue to be excited about our market opportunity,” said CEO Greg Schott. “The convergence of major technology forces, such as mobile, cloud, big data, and the Internet of Things, is driving the shift to composability and creating disruption across almost every industry.”

Here’s a graph that looks at MULE’s price performance since its IPO:

MuleSoft, Inc. owns and operates Anypoint Platform, an integration solution for connecting applications, data sources, and devices, both on-premises and in the cloud. Its hybrid integration platform includes iPaaS, ESB and a unified solution for API management, design and publishing.

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