Heavy investment drives long term value but also net losses
- Both service revenues and total revenues increased by ~ 20% in fiscal Q1. These figures essentially are repeats of the numbers reported three months ago.
- Service revenue from mid-market and enterprise customers grew even faster at approximately 28% and represented 61% of total service revenue, up from 57% in the year-ago quarter.
- Average monthly service revenue for mid-market customers grew 8% year-over-year; For SMB customers, the corresponding growth was 11%.
- GAAP net loss was $15 million; Non-GAAP net loss was $3.5 million.ubscription basis.