Cloudera Reports Third Quarter Fiscal Year 2018 Financial Results
PALO ALTO, Calif., Dec. 7, 2017 /PRNewswire/ -- Cloudera, Inc. (NYSE: CLDR), the modern platform for machine learning and analytics optimized for the cloud, reported results for its third quarter of fiscal 2018, ended October 31, 2017. Total revenue was $94.6 million, an increase of 41% from the third quarter of fiscal 2017. Subscription revenue was $78.1 million, an increase of 48% from the year-ago period. Subscription revenue represented 83% of total revenue, up from 78% in the third quarter of fiscal 2017.
"We had another strong quarter in Q3, exceeding expectations on financial measures while increasing our competitive advantage in cloud analytics through significant new product innovation," said Tom Reilly, chief executive officer at Cloudera. "We are now at the scale where we can execute on multiple fronts concurrently. In addition to substantial enhancements to our machine learning and analytics platform, we expanded our cloud Platform-as-a-Service offerings with an extension of Cloudera Altus Data Engineering to Microsoft Azure as well as a new data warehouse cloud service, Cloudera Altus Analytic DB. Also, our financial model is exhibiting consistent operating leverage as we march toward operating cash flow break-even."
GAAP loss from operations for the third quarter of fiscal 2018 was $56.6 million, compared to a GAAP loss from operations of $44.0 million for the third quarter of fiscal 2017. Non-GAAP loss from operations for the third quarter of fiscal 2018 was $24.4 million, compared to a non-GAAP loss from operations of $37.7 million in the year-ago period.
Operating cash flow for the third quarter of fiscal 2018 was negative $2.4 million compared to operating cash flow of negative $32.5 million in the third quarter of fiscal 2017.
GAAP net loss per share for the third quarter of fiscal 2018 was $0.40 per share, based on weighted-average shares outstanding of 138.5 million shares, compared to a GAAP net loss per share in the third quarter of fiscal 2017 of $1.20 per share, based on weighted-average shares outstanding of 36.6 million shares. See financial statement tables below for additional information regarding historical and forward-looking stock-based compensation expenses and shares outstanding.
Non-GAAP net loss per share for the third quarter of fiscal 2018 was $0.17 per share, based on non-GAAP weighted-average shares outstanding of 138.5 million shares, compared to non-GAAP net loss per share in the third quarter of fiscal 2017 of $0.34 per share, based on non-GAAP weighted-average shares outstanding of 111.5 million shares.
A reconciliation of GAAP to non-GAAP financial measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading Non?GAAP Financial Measures.
As of October 31, 2017, the company had total cash, cash equivalents, marketable securities and restricted cash of $484.0 million.
Recent Business and Financial Highlights:
-- Subscription revenue was up 48% year-over-year to $78.1 million -- Subscription revenue represented 83% of total revenue, up from 78% in the year-ago period -- Non-GAAP subscription gross margin for the quarter was 86%, more than 250 basis points higher than the third quarter of fiscal 2017 -- Dollar-based net expansion rate was 135% for the quarter -- 23 net new Global 8000 customers added -- Launched Cloudera Shared Data Experience (SDX), which delivers a consistent software framework of data management, governance and security tools across cloud, multi-cloud and on-premises deployments using the same data regardless of where it resides (https://www.cloudera.com/products/sdx.html) -- Introduced Cloudera Altus Analytic DB, Platform-as-a-Service, the first data warehouse cloud service that brings the warehouse to the data, allowing enterprises to quickly perform self-service business intelligence and SQL analytic workloads in the cloud -- Announced the release of Cloudera Altus Data Engineering, Platform-as-a-Service, for the Microsoft Azure cloud platform -- Cloudera Data Science Workbench was voted "Winner -- Best Data Science Platform" in the Datanami Readers' Choice Awards -- Appointed Rosemary Schooler,Vice President and General Manager, Global IoT Sales, Intel Corporation, to Cloudera board of directors
Business Outlook
The outlook for the fourth quarter of fiscal 2018, ending January 31, 2018, is:
-- Total revenue in the range of $97 million to $99 million, representing 33% to 36% year-over-year growth -- Subscription revenue in the range of $80 million to $82 million, representing 43% to 46% year-over-year growth -- Non-GAAP net loss per share in the range of $0.24 to $0.22 per share -- Non-GAAP weighted-average shares outstanding of approximately 142 million shares
The outlook for fiscal 2018, ending January 31, 2018, is:
-- Total revenue in the range of $361 million to $363 million, representing 38% to 39% year-over-year growth -- Subscription revenue in the range of $297 million to $299 million, representing 48% to 49% year-over-year growth -- Operating cash flow in the range of negative $50 million to $45 million -- Non-GAAP net loss per share in the range of $0.84 to $0.82 per share -- Non-GAAP weighted-average shares outstanding of approximately 133 million shares
Conference Call and Webcast Information
Cloudera is hosting a conference call for analysts and investors to discuss its third quarter of fiscal 2018 results and the outlook for its fourth quarter of fiscal 2018 and full year fiscal 2018 at 2:00 p.m. Pacific Time today. Participants can listen via webcast by visiting the Investor Relations section of Cloudera's website. A replay of the webcast will be available for two weeks following the call.
The conference call can also be accessed as follows:
-- Participant Toll Free Number: +1-833-231-7247 -- Participant International Number: +1-647-689-4091 -- Conference ID: 6488823
About Cloudera
At Cloudera, we believe that data can make what is impossible today, possible tomorrow. We empower people to transform complex data into clear and actionable insights. We deliver the modern platform for machine learning and analytics optimized for the cloud. The world's largest enterprises trust Cloudera to help solve their most challenging business problems. Learn more at www.cloudera.com.
Connect with Cloudera
About Cloudera: cloudera.com/about-cloudera.html
Read our VISION blog: vision.cloudera.com/ and Engineering blog: blog.cloudera.com/
Follow us on Twitter: twitter.com/cloudera
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Join the Cloudera Community: community.cloudera.com
Read about our customers' successes: cloudera.com/customers.html
Cloudera and associated marks are trademarks or registered trademarks of Cloudera, Inc. All other company and product names may be trademarks of their respective owners.
Global 8000 Customer List
We periodically update the Global 8000 list based on the FORBES Global 2000 list and information from Data.com, using the most recently published FORBES Global 2000 list (which is updated by Forbes annually) and the most recent Data.com information (which is continuously updated by Data.com). Our customer count is subject to ongoing adjustment and, when adjustments occur, previously disclosed numbers of customers are updated to allow for comparability.
Forward-Looking Statements
Statements in this press release that are not historical in nature are forward-looking statements that, within the meaning of the federal securities laws including the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, involve known and unknown risks and uncertainties. Words such as "may", "will", "expect", "intend", "plan", "believe", "seek", "could", "estimate", "judgment", "targeting", "should", "anticipate", "goal" and variations of these words and similar expressions, are also intended to identify forward-looking statements. The forward-looking statements in this press release address a variety of subjects, including our belief that the enterprise machine learning and analytics market will quickly emerge and that we will continue to lead its direction through technology and product innovation, our expectation that we will continue our momentum in machine learning, analytics and the cloud, and our"Business Outlook" for our fourth quarter of fiscal 2018 and full year fiscal 2018 operating results. Readers are cautioned that actual results could differ materially from those implied by such forward-looking statements due to a variety of factors, including global economic conditions, competitive pressures and pricing declines, intellectual property infringement claims, and other risks or uncertainties that are described under the caption "Risk Factors" in our Prospectus filed pursuant to Rule 424(b)filed with the Securities and Exchange Commission, or the SEC, on September 28, 2017, our most recently filed Quarterly Report on Form 10-Q, and in our other SEC filings. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurances that our expectations will be attained. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Non-GAAP Financial Measures
We report all financial information required in accordance with U.S. generally accepted accounting principles (GAAP). To supplement our unaudited condensed consolidated financial statements presented in accordance with GAAP, we use certain non-GAAP measures of financial performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP, and may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the results of our operations as determined in accordance with GAAP. The non-GAAP financial measures used by us include non-GAAP subscription gross margins, non-GAAP loss from operations, non-GAAP net loss, and historical and forward-looking non-GAAP net loss per share. These non-GAAP financial measures exclude stock-based compensation, acquisition- and disposition-related expenses (if any), amortization of acquired intangible assets, and donations of common stock made to the Cloudera Foundation from the Cloudera unaudited condensed consolidated statement of operations. In addition, we use non-GAAP weighted-average shares outstanding to calculate non-GAAP net loss per share. This non-GAAP measure includes the assumed conversion of all outstanding shares of preferred stock to common stock and the impact of anti-dilutive restricted stock units and stock options outstanding, on a weighted basis.
For a description of these items, including the reasons why management adjusts for them, and reconciliations of historical non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the section of the accompanying tables titled "Use of Non-GAAP Financial Information" as well as the related tables that precede it. We may consider whether other significant non-recurring items that arise in the future should also be excluded in calculating the non-GAAP financial measures we use.
We believe that these non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, provide meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our core business, operating results or future outlook. Management uses, and believes that investors benefit from referring to, these non-GAAP financial measures in assessing our operating results, as well as when planning, forecasting and analyzing future periods. We use these non?GAAP financial measures in conjunction with traditional GAAP measures to communicate with our board of directors concerning our financial performance. These non-GAAP financial measures also facilitate comparisons of our performance to prior periods.
Cloudera, Inc. Condensed Consolidated Statements of Operations (in thousands, except per share data) (unaudited) Three Months Ended Nine Months Ended October 31, October 31, ----------- ----------- 2017 2016 2017 2016 ---- ---- ---- ---- Revenue: Subscription $78,105 $52,733 $216,762 $144,093 Services 16,464 14,525 47,231 44,106 ------ ------ ------ ------ Total revenue 94,569 67,258 263,993 188,199 Cost of revenue:(1) (2) Subscription 14,486 9,787 56,173 28,844 Services 18,640 12,652 69,035 35,969 ------ ------ ------ ------ Total cost of revenue 33,126 22,439 125,208 64,813 ------ ------ ------- ------ Gross profit 61,443 44,819 138,785 123,386 Operating expenses:(1) (2) Research and development 38,095 25,968 176,770 77,118 Sales and marketing 64,061 54,206 236,639 147,250 General and administrative 15,877 8,633 69,991 25,309 ------ ----- ------ ------ Total operating expenses 118,033 88,807 483,400 249,677 ------- ------ ------- ------- Loss from operations (56,590) (43,988) (344,615) (126,291) Interest income, net 1,501 695 3,590 2,143 Other income (expense), net (490) (296) 349 (311) ---- ---- --- ---- Net loss before benefit from (provision for) income taxes (55,579) (43,589) (340,676) (124,459) Benefit from (provision for) income taxes 241 (456) (1,210) (1,426) --- ---- ------ ------ Net loss $(55,338) $(44,045) $(341,886) $(125,885) ======== ======== ========= ========= Net loss per share, basic and diluted $(0.40) $(1.20) $(3.27) $(3.47) ====== ====== ====== ====== Weighted-average shares used in computing net loss per share, basic and diluted 138,506 36,598 104,551 36,261 ======= ====== ======= ====== (1) Amounts include stock?based compensation expense as follows (in thousands): Three Months Ended Nine Months Ended October 31, October 31, ----------- ----------- 2017 2016 2017 2016 ---- ---- ---- ---- Cost of revenue - subscription $2,750 $343 $22,143 $1,051 Cost of revenue - services 4,187 432 28,414 1,363 Research and development 9,110 1,313 90,139 4,326 Sales and marketing 10,070 1,463 82,748 4,496 General and administrative 5,030 1,766 38,236 5,322 Total stock?based compensation expense $31,147 $5,317 $261,680 $16,558 ======= ====== ======== ======= (2) Amounts include amortization of acquired intangible assets as follows (in thousands): Three Months Ended Nine Months Ended October 31, October 31, ----------- ----------- 2017 2016 2017 2016 ---- ---- ---- ---- Cost of revenue - subscription $584 $514 $1,608 $1,483 Sales and marketing 454 431 1,315 1,292 Total amortization of acquired intangible assets $1,038 $945 $2,923 $2,775 ====== ==== ====== ======
Cloudera, Inc. Condensed Consolidated Statements of Operations (as a percentage of total revenues) (unaudited) Three Months Ended Nine Months Ended October 31, October 31, ----------- ----------- 2017 2016 2017 2016 ---- ---- ---- ---- Revenue: Subscription 83% 78% 82% 77% Services 17 22 18 23 --- --- --- --- Total revenue 100 100 100 100 Cost of revenue:(1) (2) Subscription 15 15 21 15 Services 20 18 26 19 --- --- --- --- Total cost of revenue 35 33 47 34 Gross margin 65 67 53 66 --- --- --- --- Operating expenses:(1) (2) Research and development 40 39 67 41 Sales and marketing 68 80 90 78 General and administrative 17 13 26 14 --- --- --- --- Total operating expenses 125 132 183 133 --- --- --- --- Loss from operations (60) (65) (130) (67) Interest income, net 2 1 1 1 Other income (expense), net (1) - - - --- --- --- --- Net loss before benefit from (provision for) income taxes (59) (64) (129) (66) Benefit from (provision for) income taxes - (1) (1) (1) --- --- --- --- Net loss (59)% (65)% (130)% (67)% ==== ==== ===== ==== (1) Amounts include stock?based compensation expense as a percentage of total revenue as follows: Three Months Ended Nine Months Ended October 31, October 31, ----------- ----------- 2017 2016 2017 2016 ---- ---- ---- ---- Cost of revenue - subscription 3% 1% 8% 1% Cost of revenue - services 4 1 11 1 Research and development 10 2 34 2 Sales and marketing 11 2 31 2 General and administrative 5 2 15 3 Total stock-based compensation expense 33% 8% 99% 9% === === === === (2) Amounts include amortization of acquired intangible assets as a percentage of total revenue as follows: Three Months Ended Nine Months Ended October 31, October 31, ----------- ----------- 2017 2016 2017 2016 ---- ---- ---- ---- Cost of revenue - subscription 1% 1% 1% 1% Sales and marketing - - - - Total amortization of acquired intangible assets 1% 1% 1% 1% === === === ===
Cloudera, Inc. Condensed Consolidated Balance Sheets (in thousands) (unaudited) October 31, January 31, 2017 2017 ---- ---- ASSETS CURRENT ASSETS: Cash and cash equivalents $62,797 $74,186 Short-term marketable securities 326,717 160,770 Accounts receivable, net 66,170 101,549 Prepaid expenses and other current assets 23,786 13,197 ------ ------ Total current assets 479,470 349,702 Property and equipment, net 15,578 13,104 Marketable securities, noncurrent 76,464 20,710 Intangible assets, net 6,655 7,051 Goodwill 33,621 31,516 Restricted cash 18,050 15,446 Other assets 4,673 5,015 TOTAL ASSETS $634,511 $442,544 ======== ======== LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) CURRENT LIABILITIES: Accounts payable $1,761 $3,550 Accrued compensation 40,029 33,376 Other accrued liabilities 16,931 9,918 Deferred revenue, current portion 197,013 192,242 ------- ------- Total current liabilities 255,734 239,086 Deferred revenue, less current portion 35,074 25,182 Other liabilities 13,615 4,345 ------ ----- TOTAL LIABILITIES 304,423 268,613 ------- ------- Redeemable convertible preferred stock - 657,687 STOCKHOLDERS' EQUITY (DEFICIT): Common stock 7 2 Additional paid-in capital 1,348,578 192,795 Accumulated other comprehensive loss (614) (556) Accumulated deficit (1,017,883) (675,997) ---------- -------- TOTAL STOCKHOLDERS' EQUITY (DEFICIT) 330,088 (483,756) ------- -------- TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) $634,511 $442,544 ======== ========
Cloudera, Inc. Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited) Three Months Ended Nine Months Ended October 31, October 31, ----------- ----------- 2017 2016 2017 2016 ---- ---- ---- ---- CASH FLOWS FROM OPERATING ACTIVITIES Net loss $(55,338) $(44,045) $(341,886) $(125,885) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 2,701 2,518 9,695 7,471 Stock-based compensation 31,147 5,317 261,680 16,558 Release of deferred tax valuation allowance (806) - (806) - Accretion and amortization of marketable securities 243 454 657 2,420 Loss on disposal of fixed assets (111) - (111) - Changes in assets and liabilities: Accounts receivable 18,792 (2,155) 35,536 1,856 Prepaid expenses and other assets (6,098) 1,162 (5,459) 378 Accounts payable (4,000) (962) (2,326) 910 Accrued compensation 3,752 7,456 (1,231) 4,328 Accrued expenses and other liabilities 6,472 2,492 9,442 3,498 Deferred revenue 830 (4,757) 14,527 3,847 --- ------ ------ ----- Net cash used in operating activities (2,416) (32,520) (20,282) (84,619) ------ ------- ------- ------- CASH FLOWS FROM INVESTING ACTIVITIES Purchases of marketable securities (127,003) (13,367) (514,157) (103,776) Sales of marketable securities 14,238 16,766 57,436 51,138 Maturities of marketable securities 116,128 25,287 233,732 155,232 Cash used in business combinations, net of cash acquired (1,937) - (1,937) (2,700) Capital expenditures (7,034) (799) (9,005) (6,934) Proceeds from sale of fixed assets 145 - 145 - --- --- --- --- Net cash provided by (used in) investing activities (5,463) 27,887 (233,786) 92,960 ------ ------ -------- ------ CASH FLOWS FROM FINANCING ACTIVITIES Net proceeds from issuance of common stock in initial public offering (264) - 237,422 - Net proceeds from follow-on offering 46,803 - 46,803 - Taxes paid related to net share settlement of restricted stock units (50,503) - (50,503) - Proceeds from employee stock plans 5,289 920 11,221 2,553 Net cash provided by financing activities 1,325 920 244,943 2,553 ----- --- ------- ----- Effect of exchange rate changes 417 (28) 340 6 --- --- --- --- Net increase (decrease) in cash, cash equivalents and restricted cash (6,137) (3,741) (8,785) 10,900 Cash, cash equivalents and restricted cash -Beginning of period 86,984 50,635 89,632 35,994 ------ ------ ------ ------ Cash, cash equivalents and restricted cash -End of period $80,847 $46,894 $80,847 $46,894 ======= ======= ======= ======= SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION Cash paid for income taxes $488 $377 $1,840 $1,031 ==== ==== ====== ====== SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES Purchases of property and equipment in other accrued liabilities $261 $36 $261 $36 ==== === ==== === Fair value of common stock issued as consideration for business combination $2,081 $ - $2,081 $ - ====== === === ====== === === Offering costs in accounts payable and other accrued liabilities $858 $ - $858 $ - ==== === === ==== === === Conversion of redeemable convertible preferred stock to common stock $ - $ - $657,687 $ - === === === === ======== === ===
Cloudera, Inc. Three Months Ended October 31, 2017 GAAP Results Reconciled to non-GAAP Results (in thousands, except per share amounts) (unaudited) GAAP Stock-based Amortization of Non-GAAP Non-GAAP compensation acquired weighted- expense intangible assets average shares outstanding --- Cost of revenue- Subscription $14,486 $(2,750) $(584) $ - $11,152 Subscription gross margin 81% 4% 1% - % 86% Cost of revenue- Services 18,640 (4,187) - - 14,453 Services gross margin (13)% 25% - % - % 12% Gross profit 61,443 6,937 584 - 68,964 Total gross margin 65% 7% 1% - % 73% Research and development 38,095 (9,110) - - 28,985 Sales and marketing 64,061 (10,070) (454) - 53,537 General and administrative 15,877 (5,030) - - 10,847 Loss from operations (56,590) 31,147 1,038 - (24,405) Operating margin (60)% 33% 1% - % (26)% Net loss (55,338) 31,147 1,038 - (23,153) Net loss per share, basic and diluted $(0.40) $0.22 $0.01 $ - $(0.17)
Cloudera, Inc. Three Months Ended October 31, 2016 GAAP Results Reconciled to non-GAAP Results (in thousands, except per share amounts) (unaudited) GAAP Stock-based compensation expense Amortization of Non-GAAP Non-GAAP acquired weighted- intangible assets average shares outstanding --- Cost of revenue- Subscription $9,787 $(343) $(514) $ - $8,930 Subscription gross margin 81% 1% 1% - % 83% Cost of revenue- Services 12,652 (432) - - 12,220 Services gross margin 13% 3% - % - % 16% Gross profit 44,819 775 514 - 46,108 Total gross margin 67% 1% 1% - % 69% Research and development 25,968 (1,313) - - 24,655 Sales and marketing 54,206 (1,463) (431) - 52,312 General and administrative 8,633 (1,766) - - 6,867 Loss from operations (43,988) 5,317 945 (37,726) Operating margin (65)% 8% 1% (56)% Net loss (44,045) 5,317 945 - (37,783) Net loss per share, basic and diluted (1) $(1.20) $0.15 $0.03 $0.68 $(0.34)
(1) See below for a reconciliation of weighted- average shares outstanding used to calculate non-GAAP net loss per share
Cloudera, Inc. GAAP weighted-average shares reconciled to non-GAAP weighted-average shares (in thousands) (unaudited) Three Months Ended Nine Months Ended October 31, October 31, ----------- ----------- 2017 2016 2017 2016 ---- ---- ---- ---- GAAP weighted- average shares, basic and diluted 138,506 36,598 104,551 36,261 Assumed preferred stock conversion - 74,907 24,969 74,907 Assumed IPO issuance - - 316 - --- --- --- --- Non-GAAP weighted-average shares, diluted 138,506 111,505 129,836 111,168
Use of Non-GAAP Financial Information
In addition to the reasons stated under "Non-GAAP Financial Measures" above, which are generally applicable to each of the items Cloudera excludes from its non-GAAP financial measures, Cloudera believes it is appropriate to exclude or give effect to certain items for the following reasons:
-- Stock-based compensation expense. We exclude stock-based compensation expense from our non-GAAP financial measures consistent with how we evaluate our operating results and prepare our operating plans, forecasts and budgets. Further, when considering the impact of equity award grants, we focus on overall stockholder dilution rather than the accounting charges associated with such equity grants. The exclusion of the expense facilitates the comparison of results and business outlook for future periods with results for prior periods in order to better understand the long term performance of our business. -- Amortization of acquired intangible assets. We exclude the amortization of acquired intangible assets from our non-GAAP financial measures. Although the purchase accounting for an acquisition necessarily reflects the accounting value assigned to intangible assets, our management team excludes the GAAP impact of acquired intangible assets when evaluating our operating results. Likewise, our management team excludes amortization of acquired intangible assets from our operating plans, forecasts and budgets. The exclusion of the expense facilitates the comparison of results and business outlook for future periods with results for prior periods in order to better understand the long term performance of our business. -- Assumed preferred stock conversion. For periods prior to the closing of our initial public offering (IPO) on May 3, 2017, we give effect to the automatic conversion of all outstanding shares of preferred stock to common stock, as if such conversion had occurred at the beginning of the period, in our calculations of non-GAAP weight-average shares, diluted, and non-GAAP net loss per share, diluted. The inclusion of these shares facilitates the comparison of results and business outlook for future periods with results for prior periods in order to better understand the long term performance of our business. -- Assumed IPO issuance. We include the common shares issued in our IPO, on a weighted basis, as if the shares were issued on the date of our effectiveness. Our IPO was effective in the first quarter of fiscal 2018 and closed in the second quarter of fiscal 2018.
Cloudera, Inc. Reconciliation of non-GAAP Financial Guidance (unaudited) Fiscal 2018 ----------- (in millions) Q4 FY ------------ --- --- GAAP net loss ($66) - (63) ($408) - (405) Stock-based compensation expense (1) 31 292 Amortization of acquired intangible assets 1 4 Non-GAAP net loss ($34) - (31) ($112) - (109) GAAP weighted- average shares, basic and diluted 142 - 143 112 - 114 Assumed preferred stock conversion - 19 Assumed IPO issuance - 1 --- --- Non-GAAP weighted- average shares, diluted 142 - 143 132 - 134
(1) Stock-based compensation expense is impacted by variables such as stock price and employee behavior, each of which are inherently difficult to forecast. As a result, the guidance presented above is subject to a number of uncertainties and assumptions that may cause actual results to differ materially.
Investor Relations Contact:
Kevin Cook
investor-relations@cloudera.com
+1 (650) 644-3900
Press Contact:
Deborah Wiltshire
press@cloudera.com
+1 (650) 644-3900
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