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WalkMe (NASDAQ: WKME) shares fell and hit a 52-week low on Thursday after the software-as-a-service company posted fourth-quarter earnings that missed. Wall Street expectations.
In the period ending Dec. 31, WalkMe lost 32 cents per share to $ 53.3 million, up 37% year-over-year. Analysts expect the company to lose 28 cents per share on $ 52.04 million in sales.
WalkMe Chief Executive Dan Adika said in a statement that the Tel Aviv -based company will “continue to invest in 2022 to advance our leadership position and deliver value to our customers.”
Adika added that WalkMe’s revenue growth in 2022 is expected to accelerate, “due to our strong position in technology, acceleration of the DAP category, and our strong ecosystem – including our large business, DAP customers, and partner channel. “
WalkMe said it expects revenue in the first quarter to be between $ 55.5 million and $ 56.5 million, with a non -GAAP operating loss of between $ 20.4 million and $ 19.4 million.
For the full year, WalkMe estimates that sales will grow between 20% and 32% year-over-year coming in between $ 251 million and $ 255 million. It also expects non -GAAP operating losses of between $ 81 million and $ 75 million.
WalkMe shares fell sharply on Thursday, dropped more than 27% to $ 12.42. More than 1.1 million shares exchanged hands, more than five times the average daily volume.
WalkMe is listed in 50 software-as-a-service stocks in AGC Partner’s SaaS index, along with other companies such as Adobe (NASDAQ:ADBE), Salesforce.com (NYSE: CRM) and ServiceNow (NYSE: NOW).