Advertisement
Singapore markets closed

  • Straits Times Index

    3,176.51
    -11.15 (-0.35%)
     

  • Nikkei

    37,068.35
    -1,011.35 (-2.66%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • FTSE 100

    7,895.85
    +18.80 (+0.24%)
     

  • Bitcoin USD

    63,743.64
    -1,599.07 (-2.45%)
     

  • CMC Crypto 200

    1,371.97
    +59.35 (+4.52%)
     

  • S&P 500

    4,967.23
    -43.89 (-0.88%)
     

  • Dow

    37,986.40
    +211.02 (+0.56%)
     

  • Nasdaq

    15,282.01
    -319.49 (-2.05%)
     

  • Gold

    2,406.70
    +8.70 (+0.36%)
     

  • Crude Oil

    83.24
    +0.51 (+0.62%)
     

  • 10-Yr Bond

    4.6150
    -0.0320 (-0.69%)
     

  • FTSE Bursa Malaysia

    1,547.57
    +2.81 (+0.18%)
     

  • Jakarta Composite Index

    7,087.32
    -79.50 (-1.11%)
     

  • PSE Index

    6,443.00
    -80.19 (-1.23%)
     

Cloudera's (CLDR) Q1 Earnings and Revenues Increase Y/Y

Zacks Equity Research
·4-min read

Cloudera CLDR reported first-quarter fiscal 2021 adjusted earnings of 5 cents per share, which beat the Zacks Consensus Estimate by 400%. The company had reported a loss of 13 cents in the year-ago quarter. The robust bottom-line improvement was mainly driven by steady revenue growth and efficient cost management.

Revenues of $210.5 million beat the consensus mark by 3.2% and increased 12.3% year over year driven by rapid adoption of its cloud-based products and services.

The company reported better-than-guided first-quarter fiscal 2021 results. Annualized recurring revenues (ARR) were $723.4 million, up 11% year over year.

Similar to its Zacks Internet-Software industry peers like Anaplan PLAN, Nice NICE and Zuora ZUO, Cloudera benefited from subscription-based business model. Subscription revenues (88.9% of revenues) rose 20.8% year over year to $187.1 million benefiting from rapid adoption of its cloud-based products and services.

Anaplan’s first-quarter fiscal 2021 subscription revenues (90.4% of total revenues) soared 44.2% year over year to $93.8 million. NICE’s first-quarter 2020 cloud revenues rose 26.9% year over year to $172.6 million. Meanwhile, Zuora reported first-quarter fiscal 2021 subscription revenues of $56.9 million, an increase of 20% year over year.

Cloudera has underperformed Nice and the industry while outperforming Zuora and Anaplan on a year-to-date basis.

Year to Date Performance

 

Quarter Details

Cloudera’s services (11.1% of revenues) declined 28.4% year over year to $23.4 million mainly due to coronavirus-led global lockdown.

In the reported quarter, non-GAAP gross margin expanded 630 basis points (bps) to 79.5% on a year-over-year basis. Non-GAAP subscription gross margin expanded 310 bps to 88.5% year over year. Meanwhile, non-GAAP services gross margin contracted 780 bps on a year-over-year basis to 7.5%.

Research and development (R&D), sales and marketing (S&M) and general and administrative (G&A) expenses declined 4.2%, 9.1% and 32.5% on a year-over-year basis to $44.4 million, $80.7 million and $24.9 million, respectively. Moreover, as percentage of revenues, R&D, S&M and G&A expenses declined 360 bps, 900 bps and 780 bps, respectively.

For the first quarter of fiscal 2021, this Zacks Rank #3 (Hold) company reported non-GAAP income from operations of $17.3 million against non-GAAP loss from operations of $34.7 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 Apr 30, 2020, Cloudera had total cash, cash equivalents, marketable securities and restricted cash of $518.7 million compared with $486.5 million reported in the previous quarter.

Moreover, reported operating cash outflow was $68.4 million.

Guidance

Second-Quarter Fiscal 2021

Cloudera expects revenues between $206 million and $209 million. The Zacks Consensus Estimate for revenues is currently pegged at $210.4 million, which indicates year-over-year growth of 6.9%.

Subscription revenues are estimated between $186 million and $189 million.

Non-GAAP net earnings are expected between 6 cents and 7 cents per share. The Zacks Consensus Estimate is pegged at 5 cents per share.

Fiscal 2021

Cloudera expects revenues between $825 million and $845 million. The Zacks Consensus Estimate for revenues is currently pegged at $855.4 million, which suggests year-over-year growth of 7.7%.

Subscription revenues are estimated between $745 million and $755 million.

Non-GAAP net earnings are expected between 26 cents to 30 cents, while the Zacks Consensus Estimate for earnings is pegged at 26 cents per share.

These Stocks Are Poised to Soar Past the Pandemic

The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.

Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.

See the 5 high-tech stocks now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Nice Ltd. (NICE) : Free Stock Analysis Report
 
Cloudera, Inc. (CLDR) : Free Stock Analysis Report
 
Zuora, Inc. (ZUO) : Free Stock Analysis Report
 
Anaplan, Inc. (PLAN) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research