The business chat app Slack is also hit by the corona crisis, it turned out on Tuesday quarterly figures from the company. The growth in the number of paying customers leveled off and the company had to write off 11 million dollars (9.35 million euros) due to financial problems at customers. Nabeurs, investors dumped their Slack shares en masse.
Slack managed to send 25 percent more invoices in the second quarter than last year. At first glance, good figures, but growth seems to be stalling with that: the number of invoices sent in the first quarter was 38 percent higher than last year.
The amount of invoices sent is the largest source of income for the chat app and a good indicator of the future income of a company that focuses on subscription services. Investors were therefore not happy with the figures: Slack shares fell by more than 18 percent after the market.
The chat service saw the turnover still increase to 215 million dollars, which the company scored better than expected. The loss was also considerably lower than last year: at the end of July the loss was 73 million dollars, compared to red numbers of 360 million dollars in the same quarter last year.
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