PERFICIENT Reports 3.8% Increase in Q2 FY2023 Revenue of USD 231.1 Million
August 15, 2023
☀️Earnings Overview
On July 27 2023, PERFICIENT ($NASDAQ:PRFT) announced a total revenue of USD 231.1 million for the second quarter of fiscal year 2023, a 3.8% increase from the same quarter in the prior year. Despite this, net income for the quarter saw a 5.1% decline from the same period in the previous year, coming in at USD 26.4 million.
Analysis
GoodWhale has been analyzing the financials of PERFICIENT and has determined that it is a medium risk investment in terms of financial and business aspects. According to the Risk Rating, this is a safe investment that has low potential for significant losses. However, GoodWhale has detected two risk warnings on the income sheet and balance sheet that investors should be aware of. By registering on GoodWhale.com, investors can access the detailed analysis of PERFICIENT’s financials. This comprehensive analysis includes an in-depth look at the income sheet, balance sheet, cash flow, and more. It also provides key insights into where risks lie and how they can be addressed. With this information, investors can make more informed decisions about their investments in PERFICIENT. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Perficient. More…
| Total Revenues | Net Income | Net Margin |
| 922.73 | 102.64 | 11.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Perficient. More…
| Operations | Investing | Financing |
| 149.2 | -78.58 | -48.66 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Perficient. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.01k | 539 | 13.9 |
Key Ratios Snapshot
Some of the financial key ratios for Perficient are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 16.6% | 33.1% | 15.5% |
| FCF Margin | ROE | ROA |
| 15.4% | 19.6% | 8.8% |
Peers
It operates in North America, Europe, and Asia Pacific. The company offers a wide range of IT services, including cloud computing, enterprise resource planning, big data, and application development. Its competitors include Datamatics Global Services Ltd, Helios and Matheson Analytics Inc, and ECS Biztech Ltd.
– Datamatics Global Services Ltd ($BSE:532528)
Datamatics Global Services Ltd is a leading provider of data and analytics solutions. The company has a market cap of 18.07B as of 2022 and a return on equity of 14.41%. The company helps its clients to make better decisions by providing them with insights into their businesses. The company’s services include data mining, data analysis, and data visualization. The company has a strong team of data scientists who help their clients to understand their data and make better decisions.
– Helios and Matheson Analytics Inc ($OTCPK:HMNY)
Helios and Matheson Analytics Inc is a provider of information technology services and products. The company has a market cap of 7.01M and a ROE of -58.88%. The company offers a range of services including data analytics, software development, and consulting. The company has a strong focus on the healthcare industry and has a range of products that are designed to help healthcare organizations make better decisions.
– ECS Biztech Ltd ($BSE:540063)
ECS Biztech Ltd is a publicly traded company with a market capitalization of 140.19M as of 2022. The company has a Return on Equity of -1.38%. ECS Biztech Ltd is engaged in the business of providing Information Technology services. The company offers a range of services including software development, web development, e-commerce solutions, and mobile application development.
Summary
PERFICIENT, a technology consulting firm, reported total revenue of USD 231.1 million for the second quarter of its fiscal year 2023 on July 27th, 2023, a 3.8% increase from the same period in the previous year. However, net income decreased by 5.1% to USD 26.4 million from the same period in the previous year. As a result, PERFICIENT’s stock price dropped following the earnings announcement. Investors should carefully consider PERFICIENT’s performance and whether its outlook is promising given the current economic conditions.
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