June 10, 2019 / 8:31 PM / a month ago

Slack sees FY 2020 revenue to rise by as much as 50%

June 10 (Reuters) - Slack Technologies Inc, the owner of the workplace instant messaging app, on Monday said its expects $590 million to $600 million revenue in fiscal 2020, representing a growth of 47% to 50% over the previous year.

The company, which plans to go public on June 20, forecast full-year billings of $725 million to $745 million, up 40% to 44% from a year earlier.

For the full fiscal year 2020, Slack expects adjusted operating loss between $192 million and $182 million.

Slack ended the first quarter with 95,000 paid customers and posted 67% growth in quarterly revenue at $134.8 million.

The company reported operating loss of $33.8 million, compared with $20.2 million loss a year earlier.

Reporting by Ankit Ajmera in Bengaluru; Editing by James Emmanuel

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