Avalara: 1Q Earnings Snapshot

SEATTLE (AP) _ Avalara Inc. (AVLR) on Thursday reported a loss of $15.3 million in its first quarter.

The Seattle-based company said it had a loss of 20 cents per share. Losses, adjusted for stock option expense and amortization costs, came to 5 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.

The provider of cloud-based software services posted revenue of $111.4 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $108.1 million.

For the current quarter ending in July, Avalara said it expects revenue in the range of $109 million to $111 million.

The company expects full-year revenue in the range of $455 million to $465 million.

Avalara shares have climbed 39% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $101.76, an increase of 71% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVLR at https://www.zacks.com/ap/AVLR