Shares of Sumo Logic Inc. SUMO, -0.05% fell more than 5% in the extended session Thursday despite a quarterly beat for the software company. Sumo Logic said it lost $32 million, or 30 cents a share, in the fiscal 2022 second quarter, compared with a loss of $12.2 million, or 66 cents a share, in the year-ago period. Adjusted for one-time items, the company lost 11 cents a share. Revenue rose 19% to $58.8 million, the company said. FactSet consensus called for a loss of 14 cents a share on sales of $57 million. The company guided for third quarter of fiscal 2022’s revenue between $60.3 million and $61.3 million, which would represent between 16% and 18% growth on-year, and an adjusted net loss per share of 14 cents. For full fiscal-year 2022, the company guided for revenue between $236.8 million and $238.8 million, representing 17% to 18% growth, and an adjusted loss between 52 cents a share and 51 cents a share. The company “will continue to invest in platform expansion and expanded routes to market to position us to capture the significant opportunity created by digital transformation and cloud migration,” Chief Executive Ramin Sayar said in a statement. The stock ended the regular trading day down less than 0.1%.
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