Hortonworks Q1 tops estimates, revenue at $22.8 million

The open-source Hadoop vendor reported non-GAAP losses of 77 cents per share, beating analyst estimates by 9 cents.

Open-source Hadoop vendor Hortonworks announced first quarter earnings and revenue results Tuesday after the bell.

The Palo Alto-based corporation, which launched a successful IPO in December of last year, reported a net loss of $40.1 million, or 97 cents per share (statement).

Non-GAAP losses were 77 cents per share on revenue of $22.8 million.

Wall Street was looking for a loss of 86 cents per share with $18.2 million in revenue.

Shares of Hortonworks jumped 14 percent in after market trading as a result of the solid quarter.

In prepared remarks, Hortonworks CEO Rob Bearden highlighted the company's growth in support subscriptions, which reached 105 during the quarter.

"This brings our support subscription customer base to over 400 and represents over 200 percent year-over-year growth in our customer base," Bearden said. "Coupled with our 143 percent dollar-based net expansion rate over the trailing four quarters, it is becoming more evident that our land and expand strategy is leading to rapid Hadoop adoption across many enterprise organizations."

For the current quarter, Hortonworks expects revenue between $22.5 million and $23.5 million, representing year-over-year growth of 90 percent.

The company also upped its revenue guidance for the fiscal year. In February, Hortonworks guided 2015 revenue between $83.5 million to $86.5 million. Expectations now stand between $94.0 million and $97.0 million.

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