ZUORA INC: restructuring charge — Zuora announces 8% workforce reduction; preliminary Q4/FY2024 results in line with guidance

ZUORA INC

Net workforce reduction of 8%; ~60% of net reduction outside the U.S.
Expected charges of ~$11M, primarily cash, mostly recognized in Q4 FY2024.
Preliminary Q4 & FY2024 revenue, non-GAAP income, and adjusted free cash flow consistent with prior guidance.
Preliminary ARR growth ~10-10.5% YoY, DBRR ~106% as of Jan 31, 2024.

item 2.02 item 2.05

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

ZUORA INC updated its fiscal year ended January 31, 2024 guidance (reaffirmed).

Period: fiscal year ended January 31, 2024
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

Zuora also announced its preliminary expectations that, for its fourth quarter and fiscal year ended January 31, 2024, subscription revenue, total revenue, non-GAAP income from operations, and adjusted free cash flow are expected to be consistent with previous guidance

View on SEC.gov

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

ZUORA INC announced a restructuring with charges of approximately $11.0 million (8% reduction in headcount).

Type: restructuring
Charge: approximately $11.0 million
Headcount: 8% reduction in headcount

Exact text from the filing

and new roles will be hired in certain teams and locations. Approximately 60% of the net reduction is outside the United States. We expect to incur charges of approximately $11.0 million consisting primarily of termination benefits to the impacted employees, including severance payments, healthcare costs and job placement benefits. We expect substantially all of

View on SEC.gov

Browse all earnings releases →

Source: SEC EDGAR

accession 0001423774-24-000052

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.