Cloudera reported second-quarter fiscal 2022 adjusted earnings of 15 cents per share, which beat the Zacks Consensus Estimate by 87.5%. The bottom line also increased 50% year over year.
Revenues of $236.1 million beat the consensus mark by 3.84% and also increased 10.1% year over year. The uptick can be attributed to rapid adoption of its cloud-based products and services.
Annualized recurring revenues (ARR) at the end of the fiscal second quarter were $832 million, up 13% year over year.
Quarter in Detail
Subscription revenues (90.4% of revenues) rose 11.4% year over year to $213.3 million, benefiting from the fast uptake of its cloud-based products and services.
Cloudera’s services (9.6% of revenues) decreased marginally by 0.2% year over year to $22.8 million.
In the reported quarter, non-GAAP gross margin expanded 330 basis points (bps) on a year-over-year basis to 84.6%. Non-GAAP subscription gross margin expanded 200 bps year over year to 91%. Non-GAAP services gross margin expanded 730 bps year over year to 25.3%.
Research and development (R&D) expenses increased 6.7% to $48.3 million year over year while sales and marketing (S&M) expenses increased 3.2% on a year-over-year basis to $77.5 million. General and administrative (G&A) expenses rose 21.5% year over year to $29.6 million. As a percentage of revenues, R&D and S&M contracted 70 bps and 220 bps while G&A expenses rose 120 bps.
For the second quarter of fiscal 2021, the company reported non-GAAP income from operations of $44.5 million compared with $42.5 million reported in the previous quarter and $29.8 million reported in the year-ago quarter.
Balance Sheet & Cash Flow
As of Jul 31, 2021, Cloudera had total cash, cash equivalents, marketable securities and restricted cash of $796.1 million compared with $902.5 million reported in the previous quarter.
Moreover, reported operating cash outflow was $12.1 million compared with cash flow of $32.4 million in the year-ago quarter.
Zacks Rank & Key Picks
Currently, Cloudera carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector include Microsoft (MSFT - Free Report) , Cadence Design Systems (CDNS - Free Report) and Texas Instruments (TXN - Free Report) , all carrying a Zacks Rank of 2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The long-term earnings growth rate for Microsoft, Cadence Design and Texas Instruments is currently pegged at 11.09%, 11.68% and 9.33%, respectively.
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Cloudera reported second-quarter fiscal 2022 adjusted earnings of 15 cents per share, which beat the Zacks Consensus Estimate by 87.5%. The bottom line also increased 50% year over year.
Revenues of $236.1 million beat the consensus mark by 3.84% and also increased 10.1% year over year. The uptick can be attributed to rapid adoption of its cloud-based products and services.
Annualized recurring revenues (ARR) at the end of the fiscal second quarter were $832 million, up 13% year over year.
Quarter in Detail
Subscription revenues (90.4% of revenues) rose 11.4% year over year to $213.3 million, benefiting from the fast uptake of its cloud-based products and services.
Cloudera’s services (9.6% of revenues) decreased marginally by 0.2% year over year to $22.8 million.
In the reported quarter, non-GAAP gross margin expanded 330 basis points (bps) on a year-over-year basis to 84.6%. Non-GAAP subscription gross margin expanded 200 bps year over year to 91%. Non-GAAP services gross margin expanded 730 bps year over year to 25.3%.
Research and development (R&D) expenses increased 6.7% to $48.3 million year over year while sales and marketing (S&M) expenses increased 3.2% on a year-over-year basis to $77.5 million. General and administrative (G&A) expenses rose 21.5% year over year to $29.6 million. As a percentage of revenues, R&D and S&M contracted 70 bps and 220 bps while G&A expenses rose 120 bps.
For the second quarter of fiscal 2021, the company reported non-GAAP income from operations of $44.5 million compared with $42.5 million reported in the previous quarter and $29.8 million reported in the year-ago quarter.
Balance Sheet & Cash Flow
As of Jul 31, 2021, Cloudera had total cash, cash equivalents, marketable securities and restricted cash of $796.1 million compared with $902.5 million reported in the previous quarter.
Moreover, reported operating cash outflow was $12.1 million compared with cash flow of $32.4 million in the year-ago quarter.
Zacks Rank & Key Picks
Currently, Cloudera carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector include Microsoft (MSFT - Free Report) , Cadence Design Systems (CDNS - Free Report) and Texas Instruments (TXN - Free Report) , all carrying a Zacks Rank of 2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The long-term earnings growth rate for Microsoft, Cadence Design and Texas Instruments is currently pegged at 11.09%, 11.68% and 9.33%, respectively.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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