Cloudera, Inc. (CLDR) 10-Q Quarterly Report Fri Jun 05 2020

Cloudera, Inc. (NYSE: CLDR), the enterprise data cloud company, reported results for its first quarter of fiscal 2021, ended April 30, 2020. Total revenue for the first quarter was $210.5 million, an increase of 12% as compared to the first quarter of fiscal 2020. Subscription revenue was $187.1 million, an increase of 21% as compared to the first quarter of fiscal 2020. Annualized Recurring Revenue grew 11% year-over-year.

"We executed extremely well in Q1, particularly as the pandemic was in full effect for more than half of our fiscal quarter,” said Rob Bearden, chief executive officer, Cloudera. “We believe that remote working environments have placed heightened importance on data, data analysis and data security, which has increased the value of data architecture design and the criticality of hybrid cloud solutions. In addition, CDP Public Cloud is accomplishing exactly what we had hoped in that it has enabled a hybrid multi-cloud architecture for our customers and enhanced our value proposition with customers who plan to take advantage of public cloud infrastructure for certain types of workloads."

First quarter Fiscal 2021 results

•GAAP loss from operations for the first quarter of fiscal 2021 was $55.8 million, compared to $103.8 million for the first quarter of fiscal 2020

•Non-GAAP income from operations for the first quarter of fiscal 2021 was $17.3 million, compared to a non-GAAP loss from operations of $34.7 million for the first quarter of fiscal 2020

•Operating cash flow for the first quarter of fiscal 2021 was $68.4 million, compared to $11.5 million for the first quarter of fiscal 2020

•GAAP net loss per share for the first quarter of fiscal 2021 was $0.20 per share, compared to $0.38 per share for the first quarter of fiscal 2020

•Non-GAAP net income per share for the first quarter of fiscal 2021 was $0.05 per share, compared to a non-GAAP net loss per share of $0.13 per share for the first quarter of fiscal 2020

A reconciliation of GAAP to non-GAAP financial measures has been provided in the financial statement tables included in this press release. Unlike the prior comparable period in fiscal 2020, our non-GAAP financial measures now also exclude extraordinary non-cash real estate impairment charges. However, we did not have any such impairment charges in the first quarter of fiscal 2021. An explanation of these measures is also included below under the heading Non-GAAP Financial Measures.

As of April 30, 2020, Cloudera had total cash, cash equivalents, marketable securities and restricted cash of $518.7 million.

Recent Business and Financial Highlights

•Annualized Recurring Revenue at the conclusion of the first quarter of fiscal 2021 was $723.4 million, representing 11% year-over-year growth

•GAAP subscription gross margin for the quarter was 85%, up from 81% in the first quarter of fiscal 2020

•Non-GAAP subscription gross margin for the quarter was 88%, up from 85% in the first quarter of fiscal 2020

•Expanded our partnership with Google Cloud Platform (GCP) to integrate CDP Public Cloud with GCP and offer the joint product on GCP Marketplace

•CDP Private Cloud will debut at an upcoming virtual event, IBM and Cloudera: The Journey to Hybrid Cloud and AI, on June 11, 2020

•Introduced new MLOps features and extended SDX to machine learning models as part of our CDP Machine Learning public cloud service

•Four Cloudera channel leaders recognized as CRN 2020 Women of the Channel

The following information was filed by Cloudera, Inc. (CLDR) on Wednesday, June 3, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Cloudera, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 10.01: Material Contract

Exhibit 31.01: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.02: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.01: Section 1350 Certification

Exhibit 32.02: Section 1350 Certification

Ticker: CLDR
CIK: 1535379
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-20-009075
Submitted to the SEC: Fri Jun 05 2020 4:09:27 PM EST
Accepted by the SEC: Fri Jun 05 2020
Period: Thursday, April 30, 2020
Industry: Prepackaged Software