WalkMe (WKME), a Tel Aviv-based emerging player in the SaaS space, hasn’t turned a profit since its inception. Nevertheless, let’s evaluate if the company can advance in the near term by leveraging its growing relationships with several established players in various industries. Read on.Headquartered in Tel Aviv-Yafo, Israel, software publisher WalkMe Ltd. (WKME) is known for its ‘no-code’ cloud-based digital adoption platform (DAP). The company made its stock market debut on June 16, 2021 with a that raised roughly $287 million. But the stock plunged on its first day of trading to close the session 7% below its IPO price. However, the stock has since gained 1.1% to close yesterday’s trading session at $29.13.
WKME boasts more than 2,000 companies as customers, including Microsoft Corporation (NASDAQ:MSFT), Adobe Inc. (NASDAQ:ADBE) and International Business Machines Corporation (NYSE:IBM).
However, the company has reported losses each year since 2011, and according to its S-1 filing, and it is expected to continue to incur additional losses in the foreseeable future. So, WKME’s near-term prospects seem uncertain.