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MarketScreener Homepage  >  Equities  >  Nyse  >  Slack Technologies, Inc.    WORK

SLACK TECHNOLOGIES, INC.

(WORK)
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CORRECTING and REPLACING: Slack CEO Stewart Butterfield Shares Updated Business Metrics During Tweetstorm on Impact of COVID-19

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03/26/2020 | 02:25am EDT

Please replace the release with the following corrected version due to multiple revisions.

The corrected release reads:

SLACK CEO STEWART BUTTERFIELD SHARES UPDATED BUSINESS METRICS DURING TWEETSTORM ON IMPACT OF COVID-19

Slack Technologies, Inc. (NYSE: WORK) today announced that CEO and co-founder Stewart Butterfield posted a series of messages to his personal Twitter account related to developments inside and outside of the company over the past three weeks. In those tweets, Butterfield provided several updated metrics related to usage of Slack and the performance of the business. These included:

  • Simultaneously connected users increased from 10 million on March 10, 2020 to 12.5 million on March 25, 2020
  • Returning teams, an internal metric that measures the growth and progression of newly-created work teams, had, by around March 10, 2020, increased by more than 120% in Italy, 34% in Japan, and 33% in Korea
  • The creation rate of new Slack workspaces (which the company believed to be created by businesses) increased by hundreds of percent from March 12, 2020 to March 25, 2020
  • From February 1, 2020 to March 25, 2020 (approximately 60% of the way through the first fiscal quarter1), Slack added 9,000 new paid customers, an 80% increase over the full quarterly total for the preceding two quarters. Over the same period the number of messages sent per user per day increased approximately 20%.
  • During weekdays, the cumulative number of minutes of active use of Slack by all users globally now exceeds one billion.

About Slack:

Slack has transformed business communication. It’s the leading channel-based messaging platform, used by millions to align their teams, unify their systems, and drive their businesses forward. Only Slack offers a secure, enterprise-grade environment that can scale with the largest companies in the world. It is a new layer of the business technology stack where people can work together more effectively, connect all their other software tools and services, and find the information they need to do their best work. Slack is where work happens.

Forward-Looking Statements:

This press release contains forward-looking statements, including, but not limited to, statements regarding our guidance and future financial performance, market demand, product development, growth prospects, business strategies and plans, ability to attract and retain customers, ability to compete effectively and the potential impact of COVID-19 on our business.

These forward-looking statements are based on management's current views and assumptions and should not be relied upon as of any subsequent date, and we disclaim any obligation to update any forward-looking statements. Actual results may vary materially from today's statements. Information concerning our risks, uncertainties, and other factors that could cause results to differ from these forward-looking statements are contained in the company's SEC filings, earnings press release, and supplemental information posted on the Investor section of the company's website.

Slack and the Slack logo are trademarks of Slack Technologies, Inc. or its subsidiaries in the U.S. and/or other countries. Other names and brands may be claimed as the property of others.


1Slack’s first fiscal quarter of its fiscal year ending January 31, 2021 is from February 1, 2020 through April 30, 2020.


© Business Wire 2020
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Financials (USD)
Sales 2021 872 M - -
Net income 2021 -339 M - -
Net cash 2021 896 M - -
P/E ratio 2021 -57,4x
Yield 2021 -
Capitalization 19 076 M 19 076 M -
EV / Sales 2020
EV / Sales 2021 20,8x
Nbr of Employees 2 165
Free-Float 75,7%
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 33,43 $
Last Close Price 33,84 $
Spread / Highest target 33,0%
Spread / Average Target -1,22%
Spread / Lowest Target -40,9%
EPS Revisions
Managers
NameTitle
Daniel Stewart Butterfield Chairman & Chief Executive Officer
Allen Sanghyun Shim Chief Financial Officer
Callum James Henderson-Begg Chief Technology Officer
John L. O'Farrell Lead Independent Director
Andrew G. Braccia Independent Director
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