Cloudera, Inc. (CLDR) 10-Q Quarterly Report June 2021

Cloudera, Inc. (NYSE: CLDR), the enterprise data cloud company, reported results for its first quarter of fiscal 2022, ending April 30, 2021. Total revenue for the first quarter was $224.3 million, an increase of 7% as compared to the first quarter of fiscal 2021. Subscription revenue was $200.7 million, an increase of 7% as compared to the first quarter of fiscal 2021. Annualized Recurring Revenue grew 12% year-over-year.

“Our strong fiscal first quarter results reflect continued CDP momentum and customer enthusiasm for our market leading hybrid multi-cloud solution-set,” said Rob Bearden, chief executive officer of Cloudera. “We are also pleased to announce our transaction with CD&R and KKR. This transaction provides substantial and certain value to our shareholders while also accelerating Cloudera’s long-term path to hybrid cloud leadership for analytics that span the complete data lifecycle - from the Edge to AI. We believe that as a private company with the expertise and support of experienced investors such as CD&R and KKR, Cloudera will have the resources and flexibility to drive product-led growth and expand our addressable market opportunity.”

First Quarter Fiscal 2022 Results

•GAAP loss from operations for the first quarter of fiscal 2022 was $33.8 million, compared to $55.8 million for the first quarter of fiscal 2021

•Non-GAAP income from operations for the first quarter of fiscal 2022 was $42.5 million, compared to $17.3 million for the first quarter of fiscal 2021

•Operating cash flow for the first quarter of fiscal 2022 was $162.2 million, compared to $68.4 million for the first quarter of fiscal 2021

•GAAP net loss per share for the first quarter of fiscal 2022 was $0.14, compared to $0.20 for the first quarter of fiscal 2021

•Non-GAAP net income per share for the first quarter of fiscal 2022 was $0.12, compared to $0.05 for the first quarter of fiscal 2021

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 April 30, 2021, Cloudera had total cash, cash equivalents, marketable securities and restricted cash of $902.5 million.

Recent Business and Financial Highlights

•Annualized Recurring Revenue at the conclusion of the first quarter of fiscal 2022 was $805 million, representing 12% year-over-year growth

•GAAP subscription gross margin for the quarter was 88%, up from 85% in the first quarter of fiscal 2021

•Non-GAAP subscription gross margin for the quarter was 91%, up from 88% in the first quarter of fiscal 2021

•Announced agreement to acquire Datacoral to deliver fast and easy data transformations and integrations for any type of data via a robust multi-tenant SaaS architecture

•Announced agreement to acquire Cazena to deliver instant cloud data lakes, making it easier to operate and use CDP Public Cloud

•CDP available on Google Cloud and GCP Marketplace

•Dell EMC PowerScale/Isilon 8.2.2 certified for CDP Private Cloud

•CDP Public Cloud ISO 27001 certified

Transaction with Clayton, Dubilier & Rice and KKR

In a separate press release issued today, Cloudera announced that it has entered into a definitive agreement to be acquired by affiliates of Clayton, Dubilier & Rice (CD&R) and KKR for approximately $5.3 billion in cash, or $16.00 per share. The press release announcing the transaction is available on the Investor Relations section of Cloudera’s website. The transaction is expected to close in the second half of 2021, subject to customary closing conditions, including approval by Cloudera stockholders and receipt of regulatory approvals. Upon closing of the transaction, Cloudera will become a private company, and its common stock will no longer be listed on any public market.

The following information was filed by Cloudera, Inc. (CLDR) on Tuesday, June 1, 2021 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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Inside Cloudera, Inc.'s 10-Q Quarterly Report:

Financial - Cash Flow Highlight
Cash (Used in) Provided by Investing Activities The changes in cash flows from investing activities primarily relate to the timing of our purchases, maturities and sales of our investments in marketable securities, and investments in capital and other assets to support our growth.

Financial - Expense Highlight
Research and development expenses primarily consist of personnel costs including salaries, bonuses, travel costs, benefits and stock-based compensation for our research and development employees, contractor fees, allocated shared costs (including rent and information technology), supplies, and depreciation of equipment associated with the continued development of our platform prior to establishment of technological feasibility and the related maintenance of the existing technology Sales and Marketing.
Financial - Shares Highlight
Our board of directors have authorized share repurchases of up to $600 million of our outstanding shares of common stock.
Financial - Cash Flow Highlight
Operating cash flow increased during the three months ended April 30, 2021 mainly due to cash collections on increased sales of our subscription-based offerings.
Financial - Expense Highlight
Cost of revenue for services primarily consists of personnel costs including salaries, bonuses, benefits and stock-based compensation, fees to subcontractors associated with service contracts, travel costs and allocated shared costs (including rent and information technology).
Financial - Cash Flow
If adequate funds are not...Read more
Revenue - Product
Sales and marketing expenses primarily...Read more
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Table of Contents Agreement and...Read more
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The inflow from changes in...Read more
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Annualized Recurring Revenue (ARR) is...Read more
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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 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: 0001628280-21-011680
Submitted to the SEC: Fri Jun 04 2021 4:04:34 PM EST
Accepted by the SEC: Fri Jun 04 2021
Period: Friday, April 30, 2021
Industry: Prepackaged Software