UPDATE: Cornerstone OnDemand (CSOD) Tops Q3 EPS by 2c, Beats on Revenues; Offers FY Revenue Guidance

Cornerstone OnDemand (NASDAQ: CSOD) reported Q3 EPS of $0.12, $0.02 better than the analyst estimate of $0.10. Revenue for the quarter came in at $121.8 million versus the consensus estimate of $118.97 million.

Financial Outlook:

The following outlook is based on information available as of the date of this press release and is subject to change in the future. For the fourth quarter ending December 31, 2017, the Company provides the following outlook:

• Revenue between $129.0 million and $137.0 million, representing year-over-year growth at the mid-point of 22%3, or 20%4 on a constant currency basis.

For the year ending December 31, 2017, the Company provides the following outlook:

• Revenue between $479.0 million and $487.0 million, representing year-over-year growth at the mid-point of 14%5, or 16%6 on a constant currency basis.
• Non-GAAP operating margin of approximately 6% of revenue.
• Free cash flow margin of approximately 6% to 7% of revenue.

Third Quarter 2017 Results:

• Revenue for the third quarter of 2017 was $121.8 million, representing a 13.0% increase compared to the same period in 2016. Revenue growth on a constant currency basis represented a 13.1% increase compared to the prior year.1
• Billings were $132.1 million for the third quarter of 2017, representing a 23.5% increase compared to the same period in 2016.1 Billings growth on a constant currency basis represented a 18.3% increase compared to the prior year.1
• The Company’s operating loss for the third quarter of 2017 was $(12.1) million, yielding an operating loss margin of (9.9)%, compared to an operating loss of $(10.0) million, yielding an operating loss margin of (9.3)%, for the third quarter of 2016.
• Non-GAAP operating income for the third quarter of 2017 was $7.7 million, yielding a non-GAAP operating income margin of 6.3%, compared to a non-GAAP operating income of $6.9 million, yielding a non-GAAP operating income margin of 6.4%, for the third quarter of 2016.1
• The Company’s net loss for the third quarter of 2017 was $(14.9) million, or a $(0.26) diluted net loss per share, compared to a net loss of $(12.4) million, or a $(0.22) diluted net loss per share, for the third quarter of 2016.
• Non-GAAP net income for the third quarter of 2017 was $7.3 million, or a $0.12 non-GAAP diluted net income per share, compared to a non-GAAP net income of $6.9 million, or a $0.11 non-GAAP diluted net income per share, for the third quarter of 2016.1
• Free cash flow for the third quarter of 2017 was $14.1 million, yielding a free cash flow margin of 11.6%, compared to free cash flow of $7.8 million, yielding a free cash flow margin of 7.3% for the third quarter of 2016.1

For earnings history and earnings-related data on Cornerstone OnDemand (CSOD) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Vivos Therapeutics posts 35% revenue gain but widens net loss
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery