Shares of Avalara were down nearly 3 percent in after-hours trading following the company’s fourth quarter earnings report.
- Avalara grew revenue by 40 percent to $107 million, with a net loss per share of $0.03. Analysts expected revenue of $100 million and net loss per share of $0.08.
- The company ended the quarter with 11,960 core customers, up from 11,240 at the end of the third quarter. Companies such as Box, Pinterest, Marketo, Adidas, Fandango, and The New York Times use Avalara’s services.
- Avalara, which went public in June 2018, announced two recent executive additions: Ross Tennenbaum was promoted to CFO and Jay Lee was brought on as CMO.
- Shares are up more than 80 percent in the past 12 months.
- “As we look ahead to 2020, the global demand for compliance automation continues as laws, governments, and technologies change, and businesses everywhere grow,” Avalara CEO and co-founder Scott McFarlane said in a statement.