After-Hours Moves in Rising Tech Firms

By Chris Lange Updated Jan 30, 4:38PM EST · Published Sep 4, 4:45PM EDT

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After-Hours Moves in Rising Tech Firms — © zoom-zoom / Getty Images

Although earnings season is over for the most part, a handful of tech companies have reported after the closing bell. A few of these firms are making big moves in the after-hours session. 24/7 Wall St. has taken a look at these earnings reports and broken down their highlights.

Cloudera Inc. (NYSE: CLDR) reported its fiscal second-quarter financial results, saying that it had a net loss of $0.02 per share and $196.7 million in revenue. Consensus estimates had called for a net loss of $0.10 per share and $182.26 million in revenue. The same period of last year reportedly had $0.05 in EPS and $110.34 million in revenue.

Subscription revenue increased 74% year over year to $164.1 million, with a gross margin of 86%. Annualized recurring revenue grew 16% year over year.

Looking ahead to the fiscal third quarter, the company expects to see a net loss per share in the range of $0.08 to $0.06 and revenue between $187 million and $190 million. Consensus estimates are calling for a net loss of $0.05 per share and $188.61 million in revenue for the quarter.

Shares of Cloudera closed Wednesday at $7.21, in a 52-week range of $4.89 to $20.18. The consensus price target is $10.03. Following the announcement, the stock was up over 5% at $7.57 in the after-hours session.

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MongoDB Inc. (NASDAQ: MDB | MDB Price Prediction) said that it had a net loss of $0.26 per share on $99.4 million in revenue for its second-quarter results. Analysts anticipated a net loss of $0.28 per share and $91.69 million in revenue. The fiscal second quarter of last year had a net loss of $0.34 per share and $59.61 million in revenue.

Total revenues increased by 67% year over year. Subscription revenue was $94.2 million, an increase of 71%, and services revenue was $5.2 million, an increase of 15%.

For the third quarter, the company expects to see a net loss of $0.29 to $0.27 per share and revenues of $98.0 million to $100.0 million. Consensus estimates call for a net loss of $0.28 per share and $96.01 million in revenue.

MongoDB shares closed Wednesday at $158.66, in a 52-week range of $62.30 to $184.78. The consensus price target is $166.92. Following the announcement, the stock was initially flat at $159.10 in the after-hours session.

Slack Technologies Inc. (NYSE: WORK) posted a net loss of $0.14 per share and $145.0 million in revenue, which compares with consensus estimates of $0.18 per share and $140.72 million in revenue. In the second quarter of last year, it posted a net loss of $0.08 per share and revenue of $92.02 million.

Slack ended the quarter with over 100,000 paid customers, an increase 37% of year over year. The number of paid customers with greater than $100,000 in annual recurring revenue was 720, up 75% year over year.

In terms of guidance, Slack expects to see a net loss per share of $0.09 to $0.08 and revenue of $154 million to $156 million in the third quarter. The consensus estimates are a net loss of $0.07 per share and $153.19 million in revenue.

Shares of Slack closed Wednesday at $31.07. The 52-week range is $27.91 to $42.00, and the consensus analyst target is $38.93. The stock was down 13.5% at $26.84 in the after-hours session.

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Smartsheet Inc. (NYSE: SMAR) released its most recent quarterly report, with a net loss of $0.08 per share and $64.6 million in revenue. Consensus estimates had called for a net loss of $0.16 per share and $63.52 million in revenue. The second quarter of last year had a net loss of $0.08 per share on $42.38 million in revenue.

During the quarter, total revenues increased 53% year over year. Subscription revenue was $58.3 million, an increase of 56%. Professional services revenue was $6.3 million, an increase of 29%.

Looking ahead, Smartsheet expects to see a net loss per share of $0.19 to $0.18 and revenue of $69.0 million to $70.0 million the third quarter. That compares with consensus estimates of a net loss of $0.14 per share and $68.92 million in revenue.

The stock closed Wednesday at $47.91, in a 52-week range of $20.34 to $55.79. The consensus price target is $55.40, and the stock was down 11.5% at $42.35 in the after-hours session.

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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.