Pluralsight (NASDAQ: PS) reported Q2 EPS of ($0.19), $0.15 better than the analyst estimate of ($0.34).

“We completed our IPO process early in the quarter and went on to deliver strong topline growth, as well as year over year improvement in operating performance,” said Aaron Skonnard, co-founder and CEO of Pluralsight. “We continue to disrupt the technology skills development market with a platform that enables industry leaders and their teams to keep up with the rapid pace of technology change and deliver key innovations on time and on budget.”

Financial Highlights for the Second Quarter 2018

• Billings - Q2 2018 billings were $65.3 million, an increase of 42% period over period. Q2 2018 billings from business customers were $54.6 million, an increase of 52% period over period.
• Revenue - Q2 2018 revenue was $53.6 million, an increase of 38% period over period.
• Gross margin - Q2 2018 gross margin was 70%, compared to 69% in Q2 2017. Q2 2018 non-GAAP gross margin was 76%, compared to 74% in Q2 2017.
• Adjusted pro forma net loss per share - Adjusted pro forma net loss per share for Q2 2018 was $0.21, compared to $0.29 in Q2 2017.
• Cash Flows - Cash used in operations was $5.8 million, a 35% improvement over cash used in operations in Q2 2017. Free cash flow improved by $1.7 million in Q2 2018 compared to Q2 2017.
• Cash - Cash and cash equivalents were $213.6 million as of June 30, 2018.

Financial Outlook

Pluralsight is providing the following financial guidance for the third quarter and full year 2018:

Third Quarter 2018 guidance:

• Revenue is expected to be in the range of $57 million to $58 million.
• Adjusted pro forma net loss per share is expected to be in the range of $0.14 to $0.13, assuming weighted average shares outstanding of approximately 130.9 million.

Full Year guidance:

• Revenue is expected to be in the range of $222 million to $225 million.
• Adjusted pro forma net loss per share is expected to be in the range of $0.68 to $0.65, assuming weighted average shares outstanding of approximately 100.5 million.

For earnings history and earnings-related data on Pluralsight (PS) click here.