Cvent Holding Reports Missed EPS & Revenue Estimates in Q2

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The company reported a GAAP EPS of -$0.07, which was $0.04 lower than what analysts were expecting, and revenue of $166.2M, which was $16.29M lower than anticipated. Cvent Holding ($NASDAQ:CVT) is a cloud-based enterprise event management platform provider. In recent years, Cvent has evolved from a virtual event management platform to a full suite of products, including webinar services and meeting software.

Earnings

In its earning report of FY2023 Q1 ending March 31 2023, CVENT HOLDING reported total revenue of 166.2M USD, a 21.0% increase from the previous year. Unfortunately, the company also reported net income of 32.64M USD, missing analysts’ estimates. Despite the missed estimates, CVENT HOLDING’s total revenue has grown significantly in the last 3 years, reaching from 117.29M USD to 166.2M USD.

The company expressed their confidence in their growth potential, citing the increasing demand for their cloud-based meetings and event management solutions. Moving forward, they are looking to capitalize on their strong performance by further expanding their technology services.

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Cvent Holding. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Cvent Holding. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Cvent Holding. More…

Key Ratios Snapshot

Some of the financial key ratios for Cvent Holding are shown below. More…

Market Price

On Monday, Cvent Holding reported that its second quarter earnings and revenue missed analyst estimates. The company’s stock opened at $8.5 and closed at $8.4, down by 0.1% from its prior closing price of 8.5. Looking ahead, Cvent Holding is focusing on expanding its software and services businesses by adding new products and services to its portfolio. The company is also continuing to invest in its technology platform to provide customers with more automated solutions and better customer experience. Live Quote…

Analysis

At GoodWhale, we have conducted an analysis of the financials of CVENT HOLDING. Based on our Risk Rating, we have determined that CVENT HOLDING is a high risk investment in terms of financial and business aspects. We have identified two risk warnings in the balance sheet and cashflow statement, and recommend that you register with us to check it out. Our analysis has been conducted using proprietary algorithms which analyse the company’s financial statements and provide a comprehensive analysis of their financial health. We can also provide advice on which company and industry is best suited to your individual circumstances, helping you make an informed decision when investing. More…

Peers

The company was founded in 1999 and is headquartered in Tysons Corner, Virginia. Cvent has over 3,000 employees and serves over 250,000 customers in 100 countries. The company went public in 2013 and is listed on the New York Stock Exchange under the ticker symbol CVT. Cvent’s main competitors are Salesforce, Cistera Networks, and Tintri.

– Salesforce Inc ($NYSE:CRM)

Salesforce is a cloud-based software company that provides customer relationship management (CRM) software to businesses of all sizes. Its products allow businesses to manage their customer relationships and sales processes in a single system. The company’s market cap is $160.17 billion and its ROE is 0.08%.

– Cistera Networks Inc ($OTCPK:CNWT)

Cistera Networks Inc is a company that provides software-defined networking solutions. The company has a market capitalization of 1.12 million as of 2022 and a return on equity of 3.67%. The company’s products are used by enterprises and service providers to simplify and automate the delivery of network services.

– Tintri Inc ($OTCPK:TNTRQ)

Tintri Inc is a company that provides cloud storage and data management solutions. It has a market cap of 675.02k and a ROE of 116.12%. The company’s products and services are used by organizations to store, manage, protect and analyze their data.

Summary

Investors should consider this when evaluating the stock’s potential. Analysts are generally positive on Cvent Holding‘s long-term prospects and have given the stock a “Buy” rating.