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Cloudera's (CLDR) Q1 Earnings and Revenues Beat, Improve Y/Y
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Cloudera reported first-quarter fiscal 2022 adjusted earnings of 12 cents per share, which beat the Zacks Consensus Estimate by 50%. The bottom line also surged 140% year over year.
Revenues of $224.3 million beat the consensus mark by 3.22% and also increased 6.6% year over year. The uptick can be attributed to rapid adoption of its cloud-based products and services.
The company reported better-than-guided first-quarter fiscal 2022 results. Annualized recurring revenues (ARR) at the end of the fiscal first quarter were $805 million, up 12% year over year.
Similar to its Zacks Internet-Software industry peers like Anaplan , Nice (NICE - Free Report) and Workday (WDAY - Free Report) , Cloudera benefited from its subscription-based business model. Subscription revenues (89.5% of revenues) rose 7.3% year over year to $200.7 million, benefiting from the fast uptake of its cloud-based products and services.
Anaplan’s first-quarter fiscal 2022 subscription revenues (91.2% of total revenues) rallied 26% year over year to $118.3 million. NICE’s first-quarter 2021 cloud revenues (50.3% of revenues) surged 33% year over year to $230 million. Workday reported first-quarter fiscal 2021 subscription revenues (87.8% of total revenues) of $1.03 billion, up 17% year over year.
Cloudera’s services (10.5% of revenues) rose 1.1% year over year to $23.6 million.
In the reported quarter, non-GAAP gross margin expanded 490 basis points (bps) on a year-over-year basis to 84.3%. Non-GAAP subscription gross margin expanded 240 bps year over year to 90.9%. Non-GAAP services gross margin as a percentage of revenues was 28.8%, significantly up from 7.5% reported in the year-ago quarter.
Research and development (R&D) inched up 0.4% to $44.6 million year over year while sales and marketing (S&M) expenses declined 6.7% on a year-over-year basis to $75.3 million. General and administrative (G&A) expenses rose 7.6% year over year to $26.7 million. As a percentage of revenues, both R&D and S&M contracted 120 bps and 480 bps while G&A expenses rose 10 bps.
For the first quarter of fiscal 2021, this currently Zacks Rank #3 (Hold) company reported non-GAAP income from operations of $42.5 million compared with non-GAAP income from operations of $17.3 million reported in the year-ago quarter. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Balance Sheet & Cash Flow
As of Jan 31, 2021, Cloudera had total cash, cash equivalents, marketable securities and restricted cash of $902.5 million compared with $773 million reported in the previous quarter.
Moreover, reported operating cash flow was $162.2 million compared with $36.6 million in the previous quarter.
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Cloudera's (CLDR) Q1 Earnings and Revenues Beat, Improve Y/Y
Cloudera reported first-quarter fiscal 2022 adjusted earnings of 12 cents per share, which beat the Zacks Consensus Estimate by 50%. The bottom line also surged 140% year over year.
Revenues of $224.3 million beat the consensus mark by 3.22% and also increased 6.6% year over year. The uptick can be attributed to rapid adoption of its cloud-based products and services.
The company reported better-than-guided first-quarter fiscal 2022 results. Annualized recurring revenues (ARR) at the end of the fiscal first quarter were $805 million, up 12% year over year.
Similar to its Zacks Internet-Software industry peers like Anaplan , Nice (NICE - Free Report) and Workday (WDAY - Free Report) , Cloudera benefited from its subscription-based business model. Subscription revenues (89.5% of revenues) rose 7.3% year over year to $200.7 million, benefiting from the fast uptake of its cloud-based products and services.
Anaplan’s first-quarter fiscal 2022 subscription revenues (91.2% of total revenues) rallied 26% year over year to $118.3 million. NICE’s first-quarter 2021 cloud revenues (50.3% of revenues) surged 33% year over year to $230 million. Workday reported first-quarter fiscal 2021 subscription revenues (87.8% of total revenues) of $1.03 billion, up 17% year over year.
Cloudera, Inc. Price, Consensus and EPS Surprise
Cloudera, Inc. price-consensus-eps-surprise-chart | Cloudera, Inc. Quote
Quarter in Detail
Cloudera’s services (10.5% of revenues) rose 1.1% year over year to $23.6 million.
In the reported quarter, non-GAAP gross margin expanded 490 basis points (bps) on a year-over-year basis to 84.3%. Non-GAAP subscription gross margin expanded 240 bps year over year to 90.9%. Non-GAAP services gross margin as a percentage of revenues was 28.8%, significantly up from 7.5% reported in the year-ago quarter.
Research and development (R&D) inched up 0.4% to $44.6 million year over year while sales and marketing (S&M) expenses declined 6.7% on a year-over-year basis to $75.3 million. General and administrative (G&A) expenses rose 7.6% year over year to $26.7 million. As a percentage of revenues, both R&D and S&M contracted 120 bps and 480 bps while G&A expenses rose 10 bps.
For the first quarter of fiscal 2021, this currently Zacks Rank #3 (Hold) company reported non-GAAP income from operations of $42.5 million compared with non-GAAP income from operations of $17.3 million reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Balance Sheet & Cash Flow
As of Jan 31, 2021, Cloudera had total cash, cash equivalents, marketable securities and restricted cash of $902.5 million compared with $773 million reported in the previous quarter.
Moreover, reported operating cash flow was $162.2 million compared with $36.6 million in the previous quarter.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
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