ServiceSource (SREV) Tops Q2 EPS by 3c, Reaffirms FY Guidance

ServiceSource (NASDAQ: SREV) reported Q2 EPS of $0.02, $0.03 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $58.3 million versus the consensus estimate of $56.25 million.

For the third quarter of fiscal 2017, ServiceSource is providing the following guidance:

• Revenue of $55 million to $58 million
• GAAP gross margin of 27.9% to 31.3%; non-GAAP gross margin of 33.5% to 36.5%
• GAAP operating expenses of $22 million to $23 million; non-GAAP operating expenses of $18 million to $19 million
• GAAP net loss of $8.4 million to $10.4 million; non-GAAP net income of breakeven to a profit of $2 million

For the fiscal 2017, ServiceSource is reaffirming its guidance:

• Revenue of $238 million to $243 million
• GAAP gross margin of 30% to 33%; non-GAAP gross margin of 36.5% to 38.5%
• GAAP operating expenses of $92 million to $96 million; non-GAAP operating expenses of $80 million to $84 million
• GAAP net loss of $35.2 million to $38.2 million; non-GAAP net income of $5 million to $7 million
• Adjusted EBITDA of $15 to $18 million

Please see the second quarter presentation on the Events and Presentations section of the Investor Relations web site (http://ir.servicesource.com/events) for a reconciliation between GAAP and non-GAAP measures in our guidance.

For earnings history and earnings-related data on ServiceSource (SREV) click here.

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