Exhibit 99.1

 

 

Pivotal Reports Third Quarter Fiscal Year 2019 Financial Results

 

·                  Subscription revenue grew 53% year over year; Total revenue grew 30% year over year

·                  Subscription customers increased to 368; 17% growth year over year

·                  Dollar-based net expansion rate of 150%

 

SAN FRANCISCO — December 11, 2018 — Pivotal Software, Inc. (NYSE: PVTL), a leading cloud-native platform provider, today reported results for the fiscal 2019 third quarter ended November 2, 2018.

 

“We generated strong revenue growth in our third quarter and continued to deliver innovative products across our portfolio. We also saw meaningful transactions with both new and existing customers as organizations across industries continue to choose Pivotal as their strategic partner for digital transformation,” said Rob Mee, CEO of Pivotal Software. “While enterprises face a fast moving market environment and a complex technology landscape, we remain confident that our unique combination of Pivotal Cloud Foundry and Labs provide customers with a proven model to innovate and modernize at scale.”

 

Third Quarter Fiscal Year 2019 Financial Results

 

Revenue: Subscription revenue was $100.8 million, an increase of 53% year over year. Total revenue was $168.1 million, an increase of 30% year over year.

 

Operating Loss: GAAP operating loss was $35.9 million, or 21% of total revenue, compared to a loss of $36.5 million in Q3 of last year. Non-GAAP operating loss was $14.8 million, or 9% of total revenue, compared to a loss of $25.0 million year over year.

 

Net Loss: GAAP net loss was $34.9 million, compared to a loss of $39.3 million year over year. GAAP net loss per share was $0.13, compared to a loss of $0.57 in Q3 of last year. Non-GAAP net loss was $13.8 million, compared to a loss of $27.9 million year over year. Non-GAAP net loss per share was $0.05, compared to a loss of $0.13 in Q3 of last year.

 

Cash Flow: Operating cash flow for the quarter was negative $36.2 million compared to negative operating cash flow of $39.8 million in Q3 of last year.

 

Cash and cash equivalents were $664.8 million as of November 2, 2018.

 


The following information was filed by Pivotal Software, Inc. (PVTL) on Tuesday, December 11, 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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