We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cloudera's (CLDR) Q4 Earnings and Revenues Increase Y/Y
Read MoreHide Full Article
Cloudera reported fourth-quarter fiscal 2021 adjusted earnings of 15 cents per share, which beat the Zacks Consensus Estimate by 36.4%. The figure increased 275% year over year. The upside was mainly driven by steady revenue growth and efficient cost management.
Revenues of $226.6 million beat the consensus mark by 2.49% and increased 7% year over year. The uptick can be attributed to rapid adoption of its cloud-based products and services.
The company reported better-than-guided fourth-quarter fiscal 2021 results. Annualized recurring revenues (ARR) at the end of fiscal 2021 was $778 million, up 10% year over year.
Similar to its Zacks Internet-Software industry peers like Anaplan , Nice (NICE - Free Report) and Workday (WDAY - Free Report) , Cloudera benefited from subscription-based business model. Subscription revenues (91.3% of revenues) rose 13.7% year over year to $206.8 million, benefiting from rapid adoption of its cloud-based products and services.
Anaplan’s fourth-quarter fiscal 2021 subscription revenues (91.9% of total revenues) rallied 25.7% year over year to $112.6 million. NICE’s fourth-quarter 2020 cloud revenues (50.4% of revenues) rose 31.2% year over year to $219 million. Workday reported fourth-quarter fiscal 2021 subscription revenues (88.9% of total revenues) of $1.01 billion, up 19.8% year over year.
Cloudera has outperformed Nice, Anaplan, Workday and the industry on a year-to-date basis.
Year to Date Performance
Quarter Details
Cloudera’s services (8.7% of revenues) declined 33.6% year over year to $19.8 million, mainly due to coronavirus-led business disruption globally.
In the reported quarter, non-GAAP gross margin expanded 610 basis points (bps) on a year-over-year basis to 85%. Non-GAAP subscription gross margin expanded 270 bps year over year to 90.6%. Meanwhile, non-GAAP services gross margin expanded 250 bps on a year-over-year basis to 25.6%.
Research and development (R&D) and sales and marketing (S&M) expenses declined 9.7% and 12.1% on a year-over-year basis to $42.8 million and $73.5 million, respectively. General and administrative (G&A) expenses rose 3.6% year over year to $25.7 million. Moreover, as a percentage of revenues, R&D, S&M and G&A expenses declined 350 bps, 710 bps and 40 bps, respectively.
For the fourth quarter of fiscal 2021, this Zacks Rank #3 (Hold) company reported non-GAAP income from operations of $50.5 million against non-GAAP income from operations of $11 million reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Balance Sheet & Cash Flow
As of Jan 31, 2021, Cloudera had total cash, cash equivalents, marketable securities and restricted cash of $773 million compared with $567.5 million reported in the previous quarter.
Moreover, reported operating cash outflow was $36.6 million compared with $18.3 million in the previous quarter.
Guidance
First-Quarter Fiscal 2022
Cloudera expects revenues between $216 million and $218 million. Subscription revenues are estimated between $195 million and $197 million.
Non-GAAP net earnings are expected between 7 cents and 9 cents per share.
Fiscal 2022
Cloudera expects revenues between $907 million and $927 million. Subscription revenues are estimated between $822 million and $832 million.
Non-GAAP net earnings are expected between 35 cents to 39 cents.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
Image: Bigstock
Cloudera's (CLDR) Q4 Earnings and Revenues Increase Y/Y
Cloudera reported fourth-quarter fiscal 2021 adjusted earnings of 15 cents per share, which beat the Zacks Consensus Estimate by 36.4%. The figure increased 275% year over year. The upside was mainly driven by steady revenue growth and efficient cost management.
Revenues of $226.6 million beat the consensus mark by 2.49% and increased 7% year over year. The uptick can be attributed to rapid adoption of its cloud-based products and services.
The company reported better-than-guided fourth-quarter fiscal 2021 results. Annualized recurring revenues (ARR) at the end of fiscal 2021 was $778 million, up 10% year over year.
Similar to its Zacks Internet-Software industry peers like Anaplan , Nice (NICE - Free Report) and Workday (WDAY - Free Report) , Cloudera benefited from subscription-based business model. Subscription revenues (91.3% of revenues) rose 13.7% year over year to $206.8 million, benefiting from rapid adoption of its cloud-based products and services.
Anaplan’s fourth-quarter fiscal 2021 subscription revenues (91.9% of total revenues) rallied 25.7% year over year to $112.6 million. NICE’s fourth-quarter 2020 cloud revenues (50.4% of revenues) rose 31.2% year over year to $219 million. Workday reported fourth-quarter fiscal 2021 subscription revenues (88.9% of total revenues) of $1.01 billion, up 19.8% year over year.
Cloudera has outperformed Nice, Anaplan, Workday and the industry on a year-to-date basis.
Year to Date Performance
Quarter Details
Cloudera’s services (8.7% of revenues) declined 33.6% year over year to $19.8 million, mainly due to coronavirus-led business disruption globally.
In the reported quarter, non-GAAP gross margin expanded 610 basis points (bps) on a year-over-year basis to 85%. Non-GAAP subscription gross margin expanded 270 bps year over year to 90.6%. Meanwhile, non-GAAP services gross margin expanded 250 bps on a year-over-year basis to 25.6%.
Research and development (R&D) and sales and marketing (S&M) expenses declined 9.7% and 12.1% on a year-over-year basis to $42.8 million and $73.5 million, respectively. General and administrative (G&A) expenses rose 3.6% year over year to $25.7 million. Moreover, as a percentage of revenues, R&D, S&M and G&A expenses declined 350 bps, 710 bps and 40 bps, respectively.
For the fourth quarter of fiscal 2021, this Zacks Rank #3 (Hold) company reported non-GAAP income from operations of $50.5 million against non-GAAP income from operations of $11 million reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Balance Sheet & Cash Flow
As of Jan 31, 2021, Cloudera had total cash, cash equivalents, marketable securities and restricted cash of $773 million compared with $567.5 million reported in the previous quarter.
Moreover, reported operating cash outflow was $36.6 million compared with $18.3 million in the previous quarter.
Guidance
First-Quarter Fiscal 2022
Cloudera expects revenues between $216 million and $218 million. Subscription revenues are estimated between $195 million and $197 million.
Non-GAAP net earnings are expected between 7 cents and 9 cents per share.
Fiscal 2022
Cloudera expects revenues between $907 million and $927 million. Subscription revenues are estimated between $822 million and $832 million.
Non-GAAP net earnings are expected between 35 cents to 39 cents.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>