Slack Expects $600 Million in Sales This Year
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Slack Technologies Inc. expects growing revenue and higher-than-usual losses in the second quarter, the period in which it’s expected to go public via a direct listing, the company said Monday.
Slack, which makes workplace chat and collaboration software, told investors it predicts it will lose $75 million to $77 million next quarter, including about $32 million in one-time expenses related to its direct listing. That’s more than double the loss from the same quarter last year. It also predicts $139 million to $141 million in revenue in the same period, up about 52% from a year ago. Last month, the company said it lost $31.9 million on $134.8 million in revenue in the three months ending April 30.