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Pivotal Software Q1 revenue up 28 percent

In the quarter, subscription revenue was up 69 percent from a year ago. Pivotal added 20 net new subscription customers and has 339 total.
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Written by Larry Dignan on

Pivotal Software reported its first quarterly results as a public company with revenue growth of 28 percent.

The company reported a first quarter net loss of $32.5 million, or 31 cents a share, on revenue of $155.7 million. The non-GAAP net loss was 10 cents a share for the quarter.

Pivotal, which went public in April, falls under the Dell Technologies umbrella. CEO Rob Mee said the company is expanding usage of its cloud native development tools via Pivotal Cloud Foundry and services via Pivotal Labs.

In the quarter, subscription revenue was up 69 percent from a year ago. Pivotal added 20 net new subscription customers and has 339 total.

As for the outlook, Pivotal projected second quarter revenue between $157 million and $159 million with a non-GAAP net loss of 9 to 10 cents a share.

For fiscal 2019, Pivotal projected revenue of $642 million to $649 million with a non-GAAP net loss of 37 cents a share to 39 cents a share.

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