Zuora (ZUO) Thursday night announced a non-GAAP net loss of $0.11 per share for its Q1 ended April 30, improving on a $0.29 per share adjusted loss during the same quarter last year and beating the Capital IQ consensus looking for a $0.13 per share normalized net loss.

Revenue grew 22% year over year to $64.1 million, matching the Street view.

Looking forward, the cloud-based subscription management company is projecting an adjusted Q2 net loss of $0.15 to $0.13 per share, missing the analyst mean expecting an $0.11 per share loss. Its FY20 net loss is shrinking to $0.44 to $0.40 per share compared with its $0.55 per share adjusted loss last year and straddling the consensus call expecting a non-GAAP net loss of $0.42 per share.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

It also sees Q2 revenue in a range of $66 million to $68 million and between $268 million to $278 million for its FY20 ending next January. The Street is at $71.2 million and $291.2 million, respectively.

Shares plunged by more than 30% intraday, earlier touching their lowest level ever. The new 52-week price range for the shares is $13.36 – $37.78.