Exhibit 99.1

 

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Hortonworks Reports Third Quarter 2018 Revenue of $87.2 Million

Company Also Delivers $10.5 Million in Third Quarter Operating Cash Flow

SANTA CLARA, Calif.—November 8, 2018—

Hortonworks, Inc.® (NASDAQ: HDP), a leading provider of global data management solutions, today announced financial results for the third quarter of 2018.

“We are pleased with our third quarter performance, which builds on top of the significant progress we have made during the first half of 2018,” said Rob Bearden, chief executive officer of Hortonworks. “Enterprise customers continue to choose Hortonworks’ platform and value-added services because they recognize the importance of end-to-end data lifecycle management across on-premises, multiple public clouds and the edge. Our open source approach to common security, data governance and management accelerates the hybrid cloud journey for customers as they transform their business models and focus on data intensive apps powered by AI.”

“In October, we announced a merger of equals with Cloudera to create the world’s leading next-generation data platform and deliver the industry’s first enterprise data cloud,” continued Mr. Bearden. “This transaction will hasten market development and produce substantial benefit for customers, partners and the open source community. Together, we will be able to expand our customer reach and capitalize on market opportunities, as we accelerate innovation for IoT, streaming, hybrid cloud, data management, data warehousing and AI. As we prepare for the integration of both companies, we remain committed to sustaining the healthy momentum we have been seeing in 2018 and carrying it into 2019.”

Third Quarter 2018 Financial Highlights

 

   

Revenue: Total GAAP revenue was $87.2 million for the third quarter of 2018, an increase of 26 percent compared to the third quarter of 2017.

 

   

Gross Profit: Total GAAP gross profit was $63.4 million for the third quarter of 2018, compared to $47.7 million for the same period last year. Non-GAAP gross profit was $65.9 million for the third quarter of 2018, compared to $49.7 million for the same period last year. GAAP gross margin was 73 percent for the third quarter of 2018, compared to 69 percent for the same period last year. Non-GAAP gross margin was 76 percent for the third quarter of 2018, compared to 72 percent for the same period last year.

 

   

Operating Loss: GAAP operating loss was $31.7 million for the third quarter of 2018, compared to $44.2 million for the same period last year. Non-GAAP operating loss was $5.2 million for the third quarter of 2018, compared to $15.4 million for the same period last year. GAAP operating margin was negative 36 percent for the third quarter of 2018, compared to negative 64 percent for the same period last year. Non-GAAP operating margin was negative 6 percent for the third quarter of 2018, compared to negative 22 percent for the same period last year.

 

   

Net Loss: GAAP net loss was $31.6 million for the third quarter of 2018, or $0.39 per basic and diluted share, compared to a GAAP net loss of $45.4 million, or $0.67 per basic and diluted share, in the third quarter of 2017. Non-GAAP net loss was $5.0 million for the third quarter of 2018, or $0.06 per basic and diluted share, compared to a non-GAAP net loss of $16.6 million, or $0.24 per basic and diluted share, for the same period last year.


The following information was filed by Hortonworks, Inc. (HDP) on Thursday, November 8, 2018 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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