Cornerstone OnDemand delivers mixed Q4

The talent management software provider posted a net loss of $18.6 million, or 33 cents per share.

Cornerstone OnDemand delivered mixed fourth quarter earnings on Monday.

The talent management software provider posted a net loss of $18.6 million, or 33 cents per share.

Non-GAAP earnings were a loss of two cents a share on revenue of $109 million, up 29 percent year over year.

Wall Street was expecting a loss of four cents per share on a revenue of $108.5 million.

For 2016, revenue was $423.1 million, up 26 percent year-over-year, with an earnings loss of 42 cents a share.

In a canned statement, Cornerstone CEO Adam Miller expressed confidence in "the tremendous market opportunity in learning and human capital management" and said he the company's ability to innovate will fuel its long-term growth.

Elsewhere in the earnings release, Cornerstone said it ended Q4 with more than 2,918 businesses signed up and a total user base is at 29.9 million. Billings were $156.3 million for the second quarter. For the year, Cornerstone said billings were $453.3 million.

For the current quarter, Cornerstone expects revenue between $109 million and $111 million, below Wall Street estimates of $114 million. For the year, the company expects between $475 million to $485 million, which is also lower than the current estimate of $488 million.