Seattle, Wash.-based Avalara lost $15.2 million in the most recently ended quarter, 4.7 percent less than the slightly less than $16 million lost a year earlier. The company had $61.4 million in revenue for the quarter, up 25.3 percent from slightly less than $49 million in last year’s corresponding period. It spent $12.6 million on R&D, up 30.3 percent from $9.7 million and $37.3 million on sales and marketing, 23.1 percent over the $30.3 million a year ago. Avalara expects operating expenses to continue to increase and is not forecasting a profit anytime soonLast modified on Friday, 15 June 2018
AVALARA NARROWS 1Q LOSS
Avalara pumped money into sales and marketing and R&D but still managed a slight narrowing of its loss in the first quarter ended March 31. The sales-and-use tax vendor reported the quarterly numbers in its amended form S-1 as it prepared to go public this week.
Bob Scott has been informing and entertaining the mid-market financial software community with his email newsletters for 10 years. And he has been covering this market through print publications for 18 years, first as technology editor of Accounting Today and then as the Editor of Accounting Technology from 1997 through 2009. He has covered the traditional tax and accounting profession during the same time and continues to address that as executive editor of the Progressive Accountant.