Page 1

zuora NEWS RELEASE Zuora Reports Third Quarter Fiscal 2022 Results 12/1/2021 Subscription revenue grew 19 % year - over - year ; total revenue grew 16 % year - over - year REDWOOD CITY , Calif .-- ( BUSINESS WIRE ) -- Zuora , Inc. ( NYSE : ZUO ) , the leading cloud - based subscription management platform provider , today announced financial results for its fiscal third quarter ended October 31 , 2021 . " Q3 was another solid quarter . We continued to deliver strong performance , exceeding our guidance for operating metrics including total revenue , subscription revenue , and non - GAAP loss from operations . It was also the highest upsell quarter in Zuora's history . Based on our overall results , our dollar - based retention rate , and ARR growth , we are confident in our strategy and believe our opportunity in the Subscription Economy continues to expand , " said Tien Tzuo , founder and CEO of Zuora . Third Quarter Fiscal 2022 Financial Results : Revenue : Total revenue was $ 89.2 million , an increase of 16 % year - over - year . Subscription revenue was $ 73.8 million , an increase of 19 % year - over - year . • GAAP Loss from Operations : GAAP loss from operations was $ 21.6 million , compared to a loss of $ 16.0 million in the third quarter of fiscal 2021 . • Non - GAAP ( Loss ) Income from Operations : Non - GAAP loss from operations was $ 1.2 million , compared to non - GAAP income from operations of $ 0.2 million in the third quarter of fiscal 2021 . GAAP Net Loss : GAAP net loss was $ 22.9 million , or 26 % of revenue , compared to a net loss of $ 16.8 million , or 22 % of revenue , in the third quarter of fiscal 2021. GAAP net loss per share was $ 0.18 based on 125.1 million weighted - average shares outstanding , compared to a net loss per share of $ 0.14 based on 118.5 million weighted - average shares outstanding in the third quarter of fiscal 2021 . • Non - GAAP Net Loss : Non - GAAP net loss was $ 2.5 million , compared to a non - GAAP net loss of $ 0.6 million in ● ● 1