Reported results
- Second quarter revenue increased 58% year-over-year to $116.1 million (GAAP)
- Second quarter GAAP gross margin was 57%, compared to 58% in Q2 FY2026; second quarter non-GAAP gross margin was 59%, compared to 61% in Q2 FY2026
- Second quarter GAAP net loss was ($9.4) million, compared to ($22.6) million in Q2 FY2026
- Second quarter adjusted EBITDA profit was $13.9 million, compared to $6.4 million in Q2 FY2026
- Cash, cash equivalents and short-term investments were $865.4 million at end of Q2, up 219% year-over-year
- Year-to-date adjusted free cash flow was $28.8 million; Remaining Performance Obligations were $753.1 million
Guidance
- Q3 FY2027 revenue expected in range of approximately $101 million to $105 million
- Q3 FY2027 non-GAAP gross margin expected in range of approximately 56% to 58%
- Q3 FY2027 adjusted EBITDA loss expected in range of approximately ($6) to ($1) million
- Q3 FY2027 capital expenditures expected in range of approximately $30 million to $37 million
- Full fiscal year 2027 revenue expected in range of approximately $430 million to $441 million
- Full fiscal year 2027 non-GAAP gross margin expected in range of approximately 55% to 57%
- Full fiscal year 2027 adjusted EBITDA profit expected in range of approximately $3 million to $10 million
- Full fiscal year 2027 capital expenditures expected in range of approximately $100 million to $115 million
Notes
Percent of recurring annual contract value (ACV) was 98% as of end of Q2. Second quarter non-GAAP net income per share was $0.02; GAAP net loss per share was ($0.03). Company raised approximately $120 million from stock sales under At-The-Market program at average net sale price of $31.95 per share after expenses. Year-to-date net cash provided by operating activities was $68.4 million.
Price and volatility reaction
The stock moved -1.2% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -45.6 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 18.35 | 2026-09-03 |
| Close after release | 18.12 | 2026-09-04 |
| Realised move | -1.2% | close to close |
| 30d ATM IV change | -45.6 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-09-03 (8-K, Item 2.02). Read the original filing on sec.gov.