Cloudera Sinks Despite Beating Q1 Estimates

By Chris Lange Updated Jan 12, 11:12AM EST · Published Jun 9, 10:25AM EDT

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Cloudera Sinks Despite Beating Q1 Estimates — © Thinkstock

After the markets closed on Thursday, Cloudera Inc. (NYSE: CLDR) reported its first earnings report as a public company. The cloud services provider said that it had a net loss of $0.27 per share and $79.6 million in revenue in its fiscal first quarter. Consensus estimates from Thomson Reuters had called for a net loss of $0.35 per share on revenue of $75.84 million.

Subscription revenue was $64.7 million, an increase of 59% from the year-ago period. Subscription revenue represented 81% of total revenue, up from 72% in first quarter fiscal 2017.

During this quarter, the company introduced Cloudera Data Science Workbench, a self-service data science environment that enables data scientists to build, scale and deploy machine learning solutions using the most popular programming languages and deep learning frameworks.

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In terms of the outlook for the fiscal second quarter, the company expects to see a net loss per share in the range of $0.24 to $0.26 and revenues between $85 million and $86 million. The consensus estimates are a net loss of $0.25 per share and $83.84 million in revenue.

On the books, Cloudera’s cash, cash equivalents and short-term marketable securities totaled $221.78 million at the end of the quarter, compared with $234.96 million at the end of the previous fiscal year.

Tom Reilly, CEO of Cloudera, commented:

We had a strong first quarter as a public company, making progress against many of our key objectives. We are proud of the role that Cloudera is playing in helping solve some of the world’s most challenging problems through data. In Q1, we continued our innovation leadership in machine learning with the introduction of Cloudera Data Science Workbench, in IoT with the general availability of Apache Kudu and in cloud analytics with our first Platform-as-a-Service offering, Cloudera Altus. In addition, I am pleased with the success that our customers are experiencing in becoming data- and insight-driven enterprises and its corresponding effect on our business with our net expansion rate of 142% for the quarter.

Shares of Cloudera were last seen down 11% at $20.43 on Friday, with a consensus analyst price target of $23.14 and a 52-week range of $17.73 to $23.35.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.