Cloudera, Inc. (CLDR) Tops Q3 EPS by 6c, Revenues Beat; Offers FY21 EPS/Revenue Guidance Above Consensus

Cloudera, Inc. (NYSE: CLDR) reported Q3 EPS of $0.15, $0.06 better than the analyst estimate of $0.09. Revenue for the quarter came in at $217.9 million versus the consensus estimate of $209.16 million.

Third Quarter Fiscal 2021 Results

• GAAP loss from operations for the third quarter of fiscal 2021 was $12.3 million, compared to $82.5 million for the third quarter of fiscal 2020
• Non-GAAP income from operations for the third quarter of fiscal 2021 was $49.3 million, compared to a non-GAAP loss from operations of $8.2 million for the third quarter of fiscal 2020
• Operating cash flow for the third quarter of fiscal 2021 was $18.4 million, compared to negative $5.9 million for the third quarter of fiscal 2020
• GAAP net loss per share for the third quarter of fiscal 2021 was $0.04 per share, compared to $0.29 per share for the third quarter of fiscal 2020
• Non-GAAP net income per share for the third quarter of fiscal 2021 was $0.15 per share, compared to a non-GAAP net loss per share of $0.03 per share for the third quarter of fiscal 2020

"In the third quarter, CDP Private Cloud became generally available, we announced three new upcoming cloud-native services on CDP Public Cloud, and the number of CDP Public Cloud paying customers increased by more than 40%. With CDP Private Cloud now in-market, our hybrid multi-cloud offerings can be implemented by customers and our Enterprise Data Cloud vision is nearly complete. We are beginning to see an acceleration of migrations by existing customers from legacy Cloudera and Hortonworks platforms to CDP," said Rob Bearden, chief executive officer, Cloudera. "We believe that Cloudera has never been better-positioned to capture more of the rapidly growing data management and analytics market opportunity for hybrid multi-cloud solutions. As a result, we have announced today that the board has authorized the repurchase of an additional $500 million in shares of our stock."

GUIDANCE:

Cloudera, Inc. sees Q4 2021 EPS of $0.10-$0.12, versus the consensus of $0.10. Cloudera, Inc. sees Q4 2021 revenue of $219-222 million, versus the consensus of $215.69 million.

Cloudera, Inc. sees FY2021 EPS of $0.40-$0.42, versus the consensus of $0.33. Cloudera, Inc. sees FY2021 revenue of $862-865 million, versus the consensus of $849.8 million.

The outlook for the fourth quarter of fiscal 2021, ending January 31, 2021 is:

• Total revenue in the range of $219 million to $222 million
• Subscription revenue in the range of $199 million to $202 million
• Non-GAAP operating income in the range of $35 million to $40 million
• Non-GAAP net income per share in the range of $0.10 to $0.12 per share
• Diluted weighted-average share count of approximately 323 million shares

The outlook for fiscal 2021, ending January 31, 2021, is:

• Total revenue in the range of $862 million to $865 million
• Subscription revenue in the range of $775 million to $778 million
• Non-GAAP operating income in the range of $131 million to $136 million
• Non-GAAP net income per share in the range of $0.40 to $0.42 per share
• Diluted weighted-average share count of approximately 317 million shares

The business outlook is based on the assumption that the recessionary impact of the coronavirus pandemic (COVID-19) will continue at least through Cloudera's fourth quarter fiscal 2021.

For earnings history and earnings-related data on Cloudera, Inc. (CLDR) click here.

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