Cornerstone, Jive, Marketo deliver mixed earnings

Summary:This trio of software as a service players struggled with expectations in the fourth quarter and deliver a mixed bag of results.

Software as a service players Cornerstone OnDemand, Jive Software and Marketo delivered mixed financial results relative to expectations and all posted losses.

Here's the roundup:

Cornerstone OnDemand delivered fourth quarter results that fell short of expectations.

The company reported a fourth quarter net loss of $10.8 million, or 21 cents a share, on revenue of $54.9 million, up 51 percent from a year ago. Cornerstone reported a non-GAAP net loss of 3 cents a share.

Wall Street was looking for non-GAAP break even results in the fourth quarter on revenue of $55.08 million.

For 2013, Cornerstone reported a net loss of $40.4 million, or 79 cents a share, on revenue of $185.1 million, up 57 percent from 2012.

The company said that fourth quarter bookings in the fourth quarter were $84.5 million, up 51 percent from a year ago. Cornerstone ended the quarter with 1,600 customers and 14 million users.

Jive Software delivered fourth quarter results and an outlook in line with expectations and said that its sales focus on line of business execs paid off.

The company reported a fourth quarter net loss of $22.3 million, or 32 cents a share, on revenue of $39.3 million, up 21 percent from a year ago. Non-GAAP earnings for the fourth quarter was 16 cents a share, in line with expectations. Wall Street was looking for fourth quarter sales of $39 million.

For 2013, Jive reported a net loss of $75.4 million, or $1.12 a share, on revenue of $145.8 million, up 28 percent from a year ago. The company ended the year with 876 customers.

As for the outlook, Jive projected first quarter revenue of $40 million to $41 million with a non-GAAP loss between 11 cents a share and 13 cents a share.

Wall Street was looking for a loss of 12 cents a share on revenue of $41.2 million for the first quarter. The company is projecting 2014 revenue of $170 million to $175 million a non-GAAP loss of 39 cents a share to 46 cents a share.

Jive also said that James Larson, president of worldwide field operations, is resigning March 31.

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Marketo reported a fourth quarter net loss of $15.5 million, or 41 cents a share, on revenue of $28.2 million, up 67 percent from a year ago. The non-GAAP loss was 29 cents a share for the fourth quarter.

Wall Street was expecting a loss of 25 cents a share on revenue of $26.65 million.

For 2013, Marketo reported a net loss of $47.4 million, or $1.92 a share, on revenue of $95.9 million.

As for the outlook, Marketo projected a first quarter non-GAAP loss of 28 cents a share to 30 cents a share on revenue of $29.5 million to $30.5 million.

Wall Street was looking for a loss of 21 cents a share on revenue of $28.22 million.

For 2014, Marketo is projecting a net loss of $1.74 a share to $1.85 a share on revenue of $130 million to $135 million.

Topics: Cloud, Enterprise Software, Social Enterprise

About

Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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