Cloudera beats Q4 estimates, touts growing CDP business
Cloudera reported better-than-expected fourth quarter results on Tuesday, touting the trajectory of its Cloudera Data Platform business.
Non-GAAP net income for the fourth quarter came to 4 cents per share on revenue of $211.7 million.
Analysts were expecting a net loss of 3 cents per share on revenue of $201.79 million.
For fiscal year 2020, Cloudera's non-GAAP net loss per share was 13 cents on revenue of $794.2 million.
"We continue to execute well, delivering another strong quarter in Q4 on financial and operational metrics," CEO Rob Bearden said in a statement. "I am especially pleased that we're seeing strong interest in CDP, with many customers across our base building plans for CDP Public Cloud adoption."
Cloudera launched its highly-anticipated Cloudera Data Platform (CDP) in September, nine months after finalizing its merger with Hortonworks. The enterprise data cloud company expanded the availability of CDP in the fourth quarter, bringing it to the Microsoft Azure Marketplace. In Q2 2021, Bearden said, the company expects to release CDP Private Cloud.
"I could not be more enthusiastic about the set-up for Cloudera as we enter the next phase of the market's evolution, helping our customers realize true hybrid and multi-cloud data solutions," he said.
In the fourth quarter, subscription revenue came to $182 million. Annualized Recurring Revenue at the conclusion of the quarter was $731.2 million, representing 11 percent year-over-year growth.
Customers with Annualized Recurring Revenue greater than $100,000 were 1004, up 27 from the prior quarter.
For the first quarter of fiscal 2021, Cloudera expects revenue in the range of $202 million to $207 million.