Exa Reports First Quarter Fiscal 2018 Financial Results

First Quarter Total Revenue In-Line with Guidance and Profitability Metrics Above Guidance Range FY 18 Business Visibility Improves

"Our first-quarter revenue was within the upper half of our guidance range and both net income and adjusted EBITDA were better than our guided ranges," said Stephen Remondi, President and Chief Executive Officer of Exa. "Exiting Q1, we are encouraged that the business visibility into our customer renewal and consumption trends in the automotive end-market has improved, supporting increased optimism in our full year expectations.

"In addition, we are very excited by the interest and activity we have experienced from the oil and gas industry since our joint press release with BP, our first customer to license our DigitalROCKTM solutions.  We believe that our expansion into this new vertical significantly expands our addressable market and we look forward to it contributing to our growth in the quarters ahead."