Sumo Logic Reports Q3 Beat & Strong Guidance, Shares Surge 12%
<p><a href='https://financialmodelingprep.com/financial-summary/SUMO'>Sumo Logic Inc. (NASDAQ:SUMO)</a> shares gained nearly 12% on Tuesday following the company’s reported Q3 results, with EPS of ($0.04) coming in better than the Street estimate of ($0.15). Revenue was $79 million, beating the Street estimate of $74.21 million.</p>
<p>ARR grew 22% to $298.9 million, which management noted was impacted by a reduced number of total sales reps and ramp sales reps, expected to take some time to reach full productivity.</p>
<p>Management mentioned no material impact from macros in Q3/23, though noting some budget scrutiny into Q4/23. Overall, the strength of the platform along with clean execution continues to cut through macro headwinds.</p>
<p>The company expects Q4/23 EPS to be in the range of ($0.09)-($0.08), compared to the Street estimate of ($0.17). Revenue is expected in the range of $77-78 million, compared to the Street estimate of $75.4 million.</p>

NASDAQ:SUMO