Page 1

Slack Announces First Quarter Fiscal Year 2022 Results investor.slackhq.com/news/news-details/2021/Slack-Announces-First-Quarter-Fiscal-Year-2022-Results/ Jun 03 , 2021 Total revenue of $ 273.4 million , up 36 % year - over - year Added over 13,000 net new Paid Customers , for a total of 169,000 Over 950,000 connected endpoints on Slack Connect , up 265 % year - over - year Management Commentary : " Companies globally are racing toward a digital - first way of working to attract talent and to win , " said Stewart Butterfield , Chief Executive Officer and Co - Founder at Slack . " Slack is not just embracing this trend , we are enabling it . In Q1 we saw a near - record number of Paid Customer additions , a record number of Paid Customers adopting Slack Connect , and approached 1 million active developers on our platform . " " We saw rapid growth across segments in the first quarter , adding 13,000 net new Paid Customers and 102 net new Paid Customers spending greater than $ 100,000 annually , " said Allen Shim , Chief Financial Officer at Slack . " We also continue to drive substantial leverage . In Q1 , we generated a record amount of free cash flow and expanded non GAAP operating margins 1200bps year - over - year . " First Quarter Fiscal 2022 Financial Highlights : • Total revenue was $ 273.4 million , an increase of 36 % year - over - year . • Calculated Billings was $ 278.5 million , an increase of 35 % year - over - year . • GAAP gross profit was $ 234.1 million , or 85.6 % gross margin , compared to $ 176.0 million , or 87.3 % gross margin , in the first quarter of fiscal year 2021. Non - GAAP gross profit was $ 238.0 million , or 87.1 % gross margin , compared to $ 179.2 million , or 88.9 % gross margin , in the first quarter of fiscal year 2021 . • GAAP operating loss was $ 55.3 million , or ( 20.2 ) % of total revenue , compared to a $ 76.2 million loss in the first quarter of fiscal year 2021 , or ( 37.8 ) % of total revenue . Non - GAAP operating income was $ 10.8 million , or 4.0 % of total revenue , compared to a $ 16.6 million loss in the first quarter of fiscal year 2021 , or ( 8.3 ) % of total revenue . • GAAP net loss per basic and diluted share was $ 0.05 . Non - GAAP net income per diluted share was $ 0.08 . • Net cash provided by operations was $ 62.8 million , or 23 % of total revenue , compared to cash provided by operations of $ 8.7 million , or 4 % of total revenue , for the first quarter of fiscal year 2021. Free Cash Flow was $ 62.7 million , or 23 % of total revenue , compared to $ 3.7 million , or 2 % of total revenue for the first quarter of fiscal year 2021 . 1/14