The good and the less-good from Sumo Logic’s updated IPO filing

Sumo Logic filed an S-1/A this week, updating the world to its latest financial results ahead of its IPO pricing.

Today, just over a week after we first looked at Sumo Logic’s recent financial performance when it filed its first S-1 document, let’s explore what’s new in the document and what the numbers tell us.

For those of you in a hurry: Sumo Logic’s quarter ending July 31, 2020, has lots to like: growth, slimming operating costs, and its smallest losses in some time. But it also has some elements to it that are less inspiring, like slowing growth. How investors sort through the different signals is going to prove fascinating.

There is a lot of IPO news coming, so let’s get our head around Sumo Logic’s new results and its strengths and weaknesses before any more of it drops.

New results

The key difference between Sumo Logic’s initial S-1 and its new, S-1/A filing is the inclusion of a new quarter’s results, namely the quarter ending July 31, 2020. With this new reporting period we get to see how the company did during COVID a bit more clearly.

Here’s the results set for the quarter in simple form: