“We expect this filing extension to provide a new growth opportunity,” McFarlane said during a webcast for earnings for the second quarter ended June 30. He did not offer details on the application but said a launch is expected next year.
For the quarter, Seattle, Wash.-based Avalara lost $17.8 million, 39 percent more than the $15.4 million it lost the prior year. Revenue for the most recently ended quarter was $63.7 million, up 25 percent from $50.9 million a year ago. Subscription and returns revenue reached $59.7 million, a 24-percent rise from $48.3 million in last year’s corresponding period. Professional services and other revenue was $4.0 million, up 56 percent from $2.6 million a year earlier.
The company spent $40.6 million on sales and marketing, an increase of 22.3 percent from $33.2 million a year ago. Total operating expenses of $62.4 million were 22.4 percent greater than slightly less than $51 million a year earlier.Last modified on Thursday, 09 August 2018