Exhibit 99.1

 

Pivotal Reports First Quarter Fiscal Year 2019 Financial Results

 

·                  Subscription revenue grew 69% year over year; Total revenue grew 28% year over year

·                  Subscription customers increased to 339; 20% growth year over year

·                  Dollar-based net expansion rate of 156%

 

SAN FRANCISCO — June 12, 2018 — Pivotal Software, Inc. (NYSE: PVTL), a leading cloud-native platform provider, today announced financial results for the fiscal 2019 first quarter ended May 4, 2018.

 

“The first quarter was a strong start to our fiscal year 2019 as we continued to deliver robust growth at scale,” said Rob Mee, CEO of Pivotal Software. “We generated subscription revenue growth of 69% and 28% total revenue growth driven by existing customers expanding their usage of our platform and continued growth in our customer base. Our unique advantage is the combination of our software platform, Pivotal Cloud Foundry®, and our differentiated strategic services offering, Pivotal Labs. Together our platform and strategic services enable enterprises to modernize their development practices and securely operate their most important applications across multi-cloud environments.”

 

First Quarter Fiscal Year 2019 Financial Results

 

Revenue: Subscription revenue was $90.1 million, an increase of 69% year over year. Total revenue was $155.7 million, an increase of 28% year over year.

 

Operating Loss: GAAP operating loss was $33.5 million, or 22% of total revenue, compared to a loss of $48.4 million in Q1 of last year. Non-GAAP operating loss was $21.0 million, or 14% of total revenue, compared to a loss of $39.5 million year over year.

 

Net Loss: GAAP net loss was $32.5 million, compared to a loss of $51.5 million year over year. GAAP net loss per share was $0.31, compared to a loss of $0.76 in Q1 of last year. Non-GAAP net loss was $23.3 million, compared to a loss of $42.7 million year over year. Non-GAAP net loss per share was $0.10, compared to a loss of $0.20 in Q1 of last year.

 

Cash Flow: Operating cash flow for the quarter was $4.5 million compared to a negative operating cash flow of $4.4 million in Q1 of last year.

 

Cash and cash equivalents were $645.5 million as of May 4, 2018.

 


The following information was filed by Pivotal Software, Inc. (PVTL) on Tuesday, June 12, 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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