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Nov. 15, 2021, 6:39 a.m. EST

Thoughtworks adjusted profit, revenue rise above expectations in first earnings report after IPO

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By Tomi Kilgore

Thoughtworks Holding Inc. /zigman2/quotes/229331545/composite TWKS -5.62% reported Monday that it swung to a third-quarter net loss as a result of $73.2 million of stock-based compensation expenses related to its recent initial public offering, but adjusted profit and revenue that rose above expectations. The technology consultancy company's stock was still untraded ahead of the open. The net loss was $25.2 million, or 10 cents a share, after income of $21.9 million, or 8 cents a share, in the year-ago period. Excluding nonrecurring items, such as stock-based compensation expenses, adjusted earnings per share rose to 14 cents from 8 cents, beating the FactSet consensus of 10 cents. Revenue rose 45.0% to $285.1 million, above the FactSet consensus of $281.2 million. Looking ahead, the company expects fourth-quarter adjusted EPS of 8 cents to 9 cents, compared with the FactSet consensus of 9 cents, and revenue of $285 million to $287 million, above expectations of $283.7 million. The stock, which went public on Sept. 15, has advanced 10.9% over the past month while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.81% has gained 4.7%.

/zigman2/quotes/229331545/composite
US : U.S.: Nasdaq
$ 20.09
-1.20 -5.62%
Volume: 201,724
Jan. 25, 2022 3:46p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$6.49 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
4,374.34
-35.79 -0.81%
Volume: 2.36B
Jan. 25, 2022 3:46p
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