Denver-based SendGrid (NYSE: SEND) this week reported its first financial results since going public, saying it wasn’t profitable in 2017 but revenue is on the rise.
The company, publicly traded since November, reported a net loss in 2017 of $6.3 million. Total revenue was $111.9 million, up 40 percent year-over-year.
SendGrid reported a net loss of $1.5 million for the fourth quarter 2017, with $31.7 million in revenue.
In 2016, it posted a net loss of $3.9 million.
Shares of SEND increased 0.65 percent to $26.26 on Tuesday, the first day of trading following the earnings release. The New York Stock Exchange as a whole was down for the day.
Its stock price is up 64 percent compared to the Nov. 14 initial public offering price of $16.
SendGrid provides companies with email delivery, marketing campaigns and services. The firm, headquartered at 1801 California St., said it ended 2017 with 63,000 customers, up 39 percent compared to yearend 2016 figures.