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Model N Fiscal Q2 Non-GAAP Earnings Decline; Raises FY21 Outlook

05/10/2021 12:45

04:44 PM EDT, 05/10/2021 (MT Newswires) -- Model N (MODN) reported Monday fiscal Q2 non-GAAP earnings of $0.04 per diluted share, down from $0.07 a year prior. Analysts polled by Capital IQ forecast a loss of $0.05 per share.

Total revenue for the quarter ended March 31 was $48.2 million, up from $40 million a year ago. Analysts polled by Capital IQ forecast $46.4 million.

The software company guided fiscal Q3 total revenue of between $48.5 million and $49 million and non-GAAP net income in the range of $0.01 to $0.02 per share.

Meanwhile, full-year fiscal 2021 outlook was raised to between $189 million and $190 million in total revenue from a prior $184 million to $186 million range. Non-GAAP EPS is now expected between $0.21 and 0.24, compared with $0.10 to $0.15 previously.

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