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Zendesk Q1 loss widens 40.3% YOY

Zendesk Inc. said its normalized net income for the first quarter amounted to a loss of 18 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 10 cents per share.

The per-share loss widened 18.3% year over year from 16 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $16.7 million, compared with a loss of $11.9 million in the year-earlier period.

The normalized profit margin rose to negative 24.4% from negative 28.2% in the year-earlier period.

Total revenue grew 62.1% year over year to $68.5 million from $42.2 million, and total operating expenses rose 55.8% from the prior-year period to $95.1 million from $61.1 million.

Reported net income came to a loss of $27.2 million, or a loss of 30 cents per share, compared to a loss of $19.1 million, or a loss of 25 cents per share, in the year-earlier period.