What happened
WalkMe (WKME 2.06%) stock was on quite the run this week. Investors flocked to the specialty tech company's shares after it reported solid first-quarter results on Wednesday. Consequently, as of Friday before market open its stock price had risen by more than 16% week to date, according to data compiled by S&P Global Market Intelligence.
So what
For the quarter, WalkMe's revenue totaled $65.9 million, representing an improvement of 16% over the first-quarter 2022 tally. The niche tech company, which offers a no-code digital adoption platform, again posted a loss on the bottom line according to generally accepted accounting principles (GAAP), but this deepened only slightly to $26.1 million ($0.30 per share) from the year-ago shortfall of a bit more than $23 million.
With these figures, WalkMe beat the average analyst for revenue of just over $65 million, but missed widely on per-share GAAP earnings -- those prognosticators were modeling a loss of only $0.11 per share.
WalkMe chose to look forward in its earnings report, giving a nod to current hot-button technology artificial intelligence (AI). CEO Dan Adika said, "Leaps in AI technology make me more excited than ever about delivering on the full promise of our Digital Adoption Platform for our customers."
Now what
WalkMe proffered guidance for both its current (second) quarter and the entirety of 2023. For the latter period, it's expecting to post total revenue of $269 million to $276 million, which would represent growth of at least 10% over the 2022 result.
The only other piece of guidance WalkMe published was a forecast for non-GAAP (adjusted) operating loss. That line item for 2023 is anticipated to land at a loss of $19 million to $22 million.
