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 soon
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.
