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December 7, 2018

Cloudera Reports Third Quarter Fiscal Year 2019 Financial Results

PALO ALTO, Calif., Dec. 7, 2018 — Cloudera, Inc., the modern platform for machine learning and analytics optimized for the cloud, has reported results for its third quarter of fiscal 2019, ended October 31, 2018. Total revenue was $118.2 million, an increase of 25% as compared to the third quarter of fiscal 2018. Subscription revenue was $99.7 million, an increase of 28% as compared to the third quarter of fiscal 2018.

“We are pleased with our execution in Q3 and our progress on the strategic combination we have announced with Hortonworks. Pre-closing merger integration planning is going well. And more importantly, we are very encouraged by the reception that our plans are receiving from customers, partners and the developer community,” said Tom Reilly, chief executive officer. “Together, we will enhance our competitiveness, accelerate our momentum in cloud innovation, and provide a comprehensive solution-set for customers, from the Edge to AI.”

GAAP loss from operations for the third quarter of fiscal 2019 was $26.4 million, compared to a GAAP loss from operations of $56.6 million for the third quarter of fiscal 2018. Non-GAAP loss from operations for the third quarter of fiscal 2019 was $3.8 million, compared to a non-GAAP loss from operations of $24.4 million in the third quarter of fiscal 2018.

Operating cash flow for the third quarter of fiscal 2019, which includes $6.0 million of merger-related costs, was negative $6.8 million compared to operating cash flow of negative $2.4 million in the third quarter of fiscal 2018.

GAAP net loss per share for the third quarter of fiscal 2019 was $0.17 per share, based on weighted-average shares outstanding of 152.2 million shares, compared to a GAAP net loss per share in the third quarter of fiscal 2018 of $0.40 per share, based on weighted-average shares outstanding of 138.5 million shares. See financial statement tables below for additional information regarding historical and forward-looking stock-based compensation expenses and shares outstanding.

Non-GAAP net loss per share for the third quarter of fiscal 2019 was $0.03 per share, based on weighted-average shares outstanding of 152.2 million shares, compared to non-GAAP net loss per share in the third quarter of fiscal 2018 of $0.17per share, based on weighted-average shares outstanding of 138.5 million shares.

A reconciliation of GAAP to non-GAAP financial measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading Non‑GAAP Financial Measures.

As of October 31, 2018, the company had total cash, cash equivalents, marketable securities and restricted cash of $453.3 million.

Recent Business and Financial Highlights

  • Subscription revenue was up 28% year-over-year to $99.7 million
  • Non-GAAP subscription gross margin for the quarter was 89%, up from 86% in the third quarter of fiscal 2018
  • Customers with annual recurring revenue greater than $100,000 were 601, up 33 for the quarter compared to the second quarter quarter of fiscal 2019
  • Dollar-based net expansion rate was 127% for the quarter
  • Non-GAAP operating loss improved more than 22 percentage points in the third quarter compared to the third quarter of fiscal 2018
  • Previewed Cloudera Machine Learning, a new, cloud-native machine learning platform powered by Kubernetes to accelerate the industrialization of AI
  • Announced availability of Cloudera’s most powerful and comprehensive platform to date – Cloudera Enterprise 6.0

Business Outlook

Note that guidance is provided for Cloudera on a standalone basis. An updated outlook for the combined company will be provided after closing of the merger and completion of Cloudera’s fiscal 2019 fourth quarter. Accordingly, the outlook for the fourth quarter of fiscal 2019, ending January 31, 2019, is:

  • Total revenue in the range of $119 million to $122 million, representing 17% year-over-year growth
  • Subscription revenue in the range of $101 million to $103 million, representing 21% year-over-year growth
  • Non-GAAP net loss per share in the range of $0.12 to $0.10 per share
  • Weighted-average shares outstanding of approximately 155 million shares

The outlook for fiscal 2019, ending January 31, 2019, is:

  • Total revenue in the range of $450 million to $453 million, representing approximately 23% year-over-year growth
  • Subscription revenue in the range of $380 million to $382 million, representing approximately 27% year-over-year growth
  • Operating cash flow in the range of negative $25 million to $20 million
  • Non-GAAP net loss per share in the range of $0.40 to $0.38 per share
  • Weighted-average shares outstanding of approximately 151 million shares

Note that operating cash flow projections for fiscal 2019 include approximately $12 million of merger execution and planning expenses in fiscal third and fourth quarters. There are or may be additional costs incurred as early as January 2019, upon closing of the merger, which have not been considered in forecasting operating cash flow for fiscal 2019.

About Cloudera

At Cloudera, we believe that data can make what is impossible today, possible tomorrow. We empower people to transform complex data into clear and actionable insights. We deliver the modern platform for machine learning and analytics optimized for the cloud. The world’s largest enterprises trust Cloudera to help solve their most challenging business problems. Learn more at cloudera.com.


Source: Cloudera

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