Free Post Earnings Research Report: MuleSoft’s Quarterly Revenue Soared 60%; GAAP Net Loss Narrowed

Stock Monitor: Image Sensing Systems Post Earnings Reporting

LONDON, UK / ACCESSWIRE / March 28, 2018 / Active-Investors.com has just released a free earnings report on MuleSoft, Inc. (NYSE: MULE). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MULE. MuleSoft reported its fourth quarter fiscal 2017 operating and financial results on February 15, 2018. The software developer topped revenue estimates, while earnings were in-line with market expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, MuleSoft most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

MuleSoft's total revenue soared 60% to $88.7 million in Q4 2017 compared to revenue of $55.4 million in Q4 2016. The Company's reported number beat analysts' estimates of $83.1 million.

During Q4 2017, MuleSoft's subscription and support revenue advanced 57% to $70.6 million versus $45.0 million in Q4 2016. The Company's reported quarter Professional services and other revenue was $18.1 million, reflecting an increase of 75% compared to revenue of $10.3 million in the prior year's same quarter.

MuleSoft's GAAP gross margin was 71.2% in Q4 2017 compared to 72.7% in Q4 2016. The Company's non-GAAP gross margin was 72.9% in the reported quarter compared to 73.2% in the year-ago corresponding period.

For Q4 2017, MuleSoft reported GAAP operating loss of $25.5 million compared to a GAAP operating loss of $12.8 million in Q4 2016. The Company's non-GAAP operating loss in the reported quarter was $16.0 million compared to a non-GAAP operating loss of $10.6 million in the prior year's same quarter. MuleSoft's non-GAAP sales and marketing expense as a percentage of revenue improved to 59% compared to 62% in Q4 2016, despite higher commissions as a result of strong sales activity in the reported quarter.

MuleSoft reported net loss of $25.1 million, or $0.19 per share, based on 130.4 million weighted-average shares outstanding in Q4 2017 compared to GAAP net loss of $13.1 million, or $0.52 per share, based on 25.4 million weighted-average shares outstanding in Q4 2016.

For Q4 2017, MuleSoft's non-GAAP net loss attributable to common stockholders was $0.12 per share compared to non-GAAP net loss attributable to common stockholders of $0.10 per share in Q4 2016. The Company's reported numbers met Wall Street's estimates for a loss of $0.12 per share.

For full year (FY) 2017, MuleSoft's revenue surged 58% to $296.5 million compared to revenue of $187.8 million in FY16.

MuleSoft reported FY17 GAAP net loss attributable to the Company of $80.0 million, or $0.75 per share based on 106.7 million weighted-average shares outstanding in FY17, compared to GAAP net loss attributable to common stockholders of $59.0 million, or $2.73 per share, based on 21.6 million weighted-average shares outstanding in FY16.

MuleSoft's non-GAAP net loss per share was $0.41 per share compared to non-GAAP net loss per share of $0.30 in FY16.

Cash Matters

At the end of Q4 2017, MuleSoft's total deferred revenue was $211.4 million, reflecting an increase of 56% on a y-o-y basis. The Company's short-term deferred revenue was $202.0 million at the end of the reported quarter, representing an increase of 55% versus the year ago comparable period.

MuleSoft's cash provided by operating activities was $8.9 million in Q4 2017 compared to cash used in operating activities of $8.6 million in Q4 2016. The Company's free cash flow for the reported quarter was $7.6 million compared to negative $10.9 million in the year ago same period.

As of December 31, 2017, MuleSoft's cash, cash equivalents, and investments totaled $347.3 million.

MuleSoft ended FY17 with 45 customers with over $1.0 million in annual contract value, up from 30 at year-end 2016.

Acquisition Update

On March 20, 2018, Salesforce announced that it will acquire MuleSoft for an enterprise value of approximately $6.5 billion. Under the terms of the transaction, the MuleSoft's acquisition consideration will be composed of $36.00 in cash and 0.0711 shares of Salesforce common stock per MuleSoft Class A and Class B common share, which represents a per share price for MuleSoft common shares of $44.89 based on the closing price of Salesforce's common stock on March 19, 2018. The per share price represents a 36% premium over MuleSoft's closing share price on March 19, 2018.

The transaction is expected to close in the second quarter of Salesforce's fiscal year 2019, ending July 31, 2018, subject to the satisfaction of customary closing conditions.

Stock Performance Snapshot

March 27, 2018 - At Tuesday's closing bell, MuleSoft's stock slightly fell 0.73%, ending the trading session at $43.79.

Volume traded for the day: 6.16 million shares, which was above the 3-month average volume of 2.93 million shares.

Stock performance in the last month – up 45.92%; previous three-month period – up 90.89%; past twelve-month period – up 95.23%; and year-to-date – up 88.26%

After yesterday's close, MuleSoft's market cap was at $5.72 billion.

The stock is part of the Technology sector, categorized under the Application Software industry.

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