Cloudera Reports Second Quarter Fiscal Year 2018 Financial Results
PALO ALTO, Calif., Sept. 7, 2017 /PRNewswire/ -- Cloudera, Inc. (NYSE: CLDR), the modern platform for machine learning and analytics optimized for the cloud, today reported results for its second quarter fiscal 2018, ended July 31, 2017. Total revenue was $89.8 million, an increase of 39% from the second quarter fiscal 2017. Subscription revenue was $74.0 million, an increase of 46% from the year-ago period. Subscription revenue represented 82% of total revenue, up from 79% in second quarter fiscal 2017.
"In our fiscal second quarter, we outperformed on sales, customer acquisition, customer expansion and cash flow objectives," said Tom Reilly, chief executive officer at Cloudera. "The enterprise machine learning and analytics market is quickly emerging and we continue to lead its direction through technology and product innovation. In Q2, we exhibited strong momentum in the areas that drive sustained growth for Cloudera: machine learning, analytics and the cloud. Also, we are especially pleased to have strengthened our market position through the acquisition of a recognized leader in machine learning applied research, development and solutions, Fast Forward Labs."
GAAP loss from operations for the second quarter fiscal 2018 was $65.7 million, compared to a GAAP loss from operations of $38.8 million for the second quarter fiscal 2017. Non-GAAP loss from operations for the quarter was $25.3 million, compared to a non-GAAP loss from operations of $32.3 million in the year-ago period.
Operating cash flow for the quarter was negative $22.8 million compared to operating cash flow of negative $28.5 million in the second quarter fiscal 2017.
GAAP net loss per share for the second quarter fiscal 2018 was $0.48 per share, based on weighted-average shares outstanding of 134.5 million shares, compared to a GAAP net loss per share in the second quarter fiscal 2017 of $1.07 per share, based on weighted-average shares outstanding of 36.3 million shares. See 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 second quarter fiscal 2018 was $0.17 per share, based on non-GAAP weighted-average shares outstanding of 136.5 million shares, compared to non-GAAP net loss per share in the second quarter fiscal 2017 of $0.29 per share, based on non-GAAP weighted-average shares outstanding of 111.2 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 July 31, 2017, the company had total cash, cash equivalents, marketable securities and restricted cash of $493.8 million.
Recent Business and Financial Highlights:
-- Subscription revenue was up 46% year-over-year to $74.0 million
-- Subscription revenue represented 82% of total revenue, up from 79% in
year-ago period
-- Non-GAAP subscription gross margin for the quarter was 85%, 200 basis
points higher than second quarter fiscal 2017
-- Dollar-based net expansion rate was 140% for the quarter
-- 45 net new Global 8000 customers added
-- Acquired Fast Forward Labs, leading machine learning and applied
artificial intelligence research and development company, deepening
Cloudera's expertise in the application of machine learning to practical
business problems
-- Recognized by Microsoft for machine learning and analytics on Azure;
named 2017 U.S. Enterprise Partner Group Data Platform ISV Partner of
the Year
-- Achieved Service Capability & Performance (SCP) Standards certification
for delivering world class customer service and support, the only modern
data platform vendor to have earned this distinction
Business Outlook
The outlook for the third quarter fiscal 2018, ending October 31, 2017, is:
-- Total revenue in the range of $90 to $92 million, representing 34% to
37% year-over-year growth
-- Subscription revenue in the range of $74 million to $76 million,
representing 40% to 44% year-over-year growth
-- Non-GAAP net loss per share in the range of $0.25 to $0.23 per share
-- Non-GAAP weighted-average shares outstanding of approximately 138
million shares
The outlook for fiscal 2018, ending January 31, 2018, is:
-- Total revenue in the range of $355 million to $360 million, representing
36% to 38% year-over-year growth
-- Subscription revenue in the range of $290 million to $295 million,
representing 45% to 47% year-over-year growth
-- Operating cash flow in the range of negative $65 million to $60 million
-- Non-GAAP net loss per share in the range of $0.95 to $0.93 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 second quarter fiscal 2018 results and the outlook for its third quarter fiscal 2018 and 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: 67627548
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 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
Visit us on Facebook: facebook.com/cloudera
See us on YouTube: youtube.com/user/clouderahadoop
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
As previously disclosed in our final prospectus dated April 27, 2017 and filed with the Securities and Exchange Commission on April 28, 2017 we periodically update the Global 8000 list based on the FORBES Global 2000 list and information from Data.com. The FORBES Global 2000 list is updated annually in the second quarter of the calendar year and we have since restated our previously disclosed numbers of customers 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 third quarter fiscal 2018 and 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 Form 10-Q filed with the Securities and Exchange Commission, or the SEC, on June 9, 2017 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 forward-looking non-GAAP gross margins,historical and forward-looking non-GAAP operating income (loss), non-GAAP net loss, 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 RSUs and 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 July 31, Six Months Ended July 31,
--------------------------- -------------------------
2017 2016 2017 2016
---- ---- ---- ----
Revenue:
Subscription $73,986 $50,688 $138,657 $91,360
Services 15,842 13,768 30,767 29,581
------ ------ ------ ------
Total revenue 89,828 64,456 169,424 120,941
Cost of revenue:(1) (2)
Subscription 15,215 9,706 41,687 19,057
Services 16,755 11,633 50,395 23,317
------ ------ ------ ------
Total cost of revenue 31,970 21,339 92,082 42,374
------ ------ ------ ------
Gross profit 57,858 43,117 77,342 78,567
Operating expenses:(1) (2)
Research and development 42,844 26,635 138,675 51,150
Sales and marketing 62,135 46,902 172,578 93,044
General and
administrative 18,564 8,367 54,114 16,676
------ ----- ------ ------
Total operating expenses 123,543 81,904 365,367 160,870
------- ------ ------- -------
Loss from operations (65,685) (38,787) (288,025) (82,303)
Interest income, net 1,440 708 2,089 1,448
Other income (expense),
net 817 (178) 839 (15)
--- ---- --- ---
Net loss before provision
for income taxes (63,428) (38,257) (285,097) (80,870)
Provision for income
taxes (801) (470) (1,451) (970)
---- ---- ------ ----
Net loss $(64,229) $(38,727) $(286,548) $(81,840)
======== ======== ========= ========
Net loss per share, basic
and diluted $(0.48) $(1.07) $(3.28) $(2.27)
====== ====== ====== ======
Weighted-average shares
used in computing net
loss per share, basic
and diluted 134,506 36,257 87,293 36,090
======= ====== ====== ======
_____________
(1) Amounts include stock?based compensation expense as follows (in thousands):
Three Months Ended July 31, Six Months Ended July 31,
--------------------------- -------------------------
2017 2016 2017 2016
---- ---- ---- ----
Cost of revenue -
subscription $3,693 $374 $19,393 $708
Cost of revenue -
services 3,890 457 24,227 931
Research and development 13,128 1,458 81,029 3,013
Sales and marketing 12,137 1,474 72,678 3,033
General and
administrative 6,603 1,815 33,206 3,556
Total stock?based
compensation expense $39,451 $5,578 $230,533 $11,241
======= ====== ======== =======
(2) Amounts include amortization of acquired intangible assets as follows (in thousands):
Three Months Ended July 31, Six Months Ended July 31,
--------------------------- -------------------------
2017 2016 2017 2016
---- ---- ---- ----
Cost of revenue -
subscription $510 $514 $1,024 $969
Sales and marketing 431 431 861 861
Total amortization of
acquired intangible
assets $941 $945 $1,885 $1,830
==== ==== ====== ======
Cloudera, Inc.
Condensed Consolidated Statements of Operations
(as a percentage of total revenues)
(unaudited)
Three Months Ended July 31, Six Months Ended July 31,
--------------------------- -------------------------
2017 2016 2017 2016
---- ---- ---- ----
Revenue:
Subscription 82% 79% 82% 76%
Services 18 21 18 24
--- --- --- ---
Total revenue 100 100 100 100
Cost of revenue:(1) (2)
Subscription 17 15 24 16
Services 19 18 30 19
--- --- --- ---
Total cost of revenue 36 33 54 35
Gross margin 64 67 46 65
--- --- --- ---
Operating expenses:(1) (2) (3)
Research and development 48 41 82 42
Sales and marketing 69 73 102 77
General and
administrative 20 13 32 14
--- --- --- ---
Total operating expenses 137 127 216 133
--- --- --- ---
Loss from operations (73) (60) (170) (68)
Interest income, net 1 1 1 1
Other income (expense),
net 1 - 1 -
--- --- --- ---
Net loss before provision
for income taxes (71) (59) (168) (67)
Provision for income
taxes (1) (1) (1) (1)
--- --- --- ---
Net loss (72)% (60)% (169)% (68)%
==== ==== ===== ====
___________
(1) Amounts include stock?based compensation expense as a percentage of total revenue as follows:
Three Months Ended July 31, Six Months Ended July 31,
--------------------------- -------------------------
2017 2016 2017 2016
---- ---- ---- ----
Cost of revenue -
subscription 4% 1% 11% 1%
Cost of revenue -
services 4 1 14 1
Research and development 15 2 48 2
Sales and marketing 14 2 43 2
General and
administrative 7 3 20 3
Total stock-based
compensation expense 44% 9% 136% 9%
=== === === ===
(2) Amounts include amortization of acquired intangible assets as a percentage of total revenue as follows:
Three Months Ended July 31, Six Months Ended July 31,
--------------------------- -------------------------
2017 2016 2017 2016
---- ---- ---- ----
Cost of revenue -
subscription 1% 1% 1% 1%
Sales and marketing - - - 1
Total amortization of
acquired intangible
assets 1% 1% 1% 2%
=== === === ===
Cloudera, Inc.
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
July 31, January 31,
2017 2017
---- ----
ASSETS
CURRENT ASSETS:
Cash and cash
equivalents $68,936 $74,186
Short-term
marketable
securities 325,744 160,770
Accounts receivable,
net 84,805 101,549
Prepaid expenses and
other current assets 17,509 13,197
------ ------
Total current assets 496,994 349,702
Property and
equipment, net 13,027 13,104
Marketable
securities,
noncurrent 81,072 20,710
Intangible assets,
net 5,166 7,051
Goodwill 31,516 31,516
Restricted cash 18,048 15,446
Other assets 3,994 5,015
TOTAL ASSETS $649,817 $442,544
======== ========
LIABILITIES, REDEEMABLE CONVERTIBLE
PREFERRED STOCK AND STOCKHOLDERS'
EQUITY (DEFICIT)
CURRENT LIABILITIES:
Accounts payable $6,326 $3,550
Accrued compensation 32,254 33,376
Other accrued
liabilities 15,670 9,918
Deferred revenue,
current portion 194,252 192,242
------- -------
Total current
liabilities 248,502 239,086
Deferred revenue,
less current portion 36,869 25,182
Other liabilities 9,058 4,345
----- -----
TOTAL LIABILITIES 294,429 268,613
------- -------
Redeemable
convertible
preferred stock - 657,687
STOCKHOLDERS' EQUITY (DEFICIT):
Common stock 7 2
Additional paid-in
capital 1,318,447 192,795
Accumulated other
comprehensive loss (521) (556)
Accumulated deficit (962,545) (675,997)
-------- --------
TOTAL STOCKHOLDERS'
EQUITY (DEFICIT) 355,388 (483,756)
------- --------
TOTAL LIABILITIES,
REDEEMABLE
CONVERTIBLE
PREFERRED STOCK AND
STOCKHOLDERS' EQUITY
(DEFICIT) $649,817 $442,544
======== ========
Cloudera, Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)
Three Months Ended July 31, Six Months Ended July 31,
--------------------------- -------------------------
2017 2016 2017 2016
---- ---- ---- ----
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss $(64,229) $(38,727) $(286,548) $(81,840)
Adjustments to reconcile net loss to net cash
used in operating activities:
Depreciation and amortization 3,352 2,548 6,994 4,953
Stock-based compensation 39,451 5,578 230,533 11,241
Accretion and amortization of
marketable securities (128) 1,184 414 1,966
Changes in assets and liabilities:
Accounts receivable (31,783) (11,852) 16,744 4,011
Prepaid expenses and other
assets (740) (2,103) 639 (784)
Accounts payable 3,595 2,844 1,674 1,872
Accrued compensation 7,684 6,309 (4,983) (3,128)
Accrued expenses and other
liabilities 1,828 151 2,970 1,006
Deferred revenue 18,125 5,523 13,697 8,604
------ ----- ------ -----
Net cash used in operating
activities (22,845) (28,545) (17,866) (52,099)
------- ------- ------- -------
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of marketable
securities (276,807) (50,365) (387,154) (90,409)
Sales of marketable securities 11,523 14,931 43,198 34,372
Maturities of marketable
securities 66,184 65,280 117,604 129,945
Cash used in business
combinations, net of cash
acquired - - - (2,700)
Capital expenditures (1,796) (986) (1,971) (6,135)
------ ---- ------ ------
Net cash provided by (used in)
investing activities (200,896) 28,860 (228,323) 65,073
-------- ------ -------- ------
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from issuance of
common stock in initial public
offering 239,333 - 237,686 -
Proceeds from employee stock
plans 4,450 804 5,932 1,633
Net cash provided by financing
activities 243,783 804 243,618 1,633
------- --- ------- -----
Effect of exchange rate changes (78) (204) (77) 34
--- ---- --- ---
Net increase (decrease) in cash,
cash equivalents and restricted
cash 19,964 915 (2,648) 14,641
Cash, cash equivalents and
restricted cash -Beginning of
period 67,020 49,720 89,632 35,994
------ ------ ------ ------
Cash, cash equivalents and
restricted cash -End of period $86,984 $50,635 $86,984 $50,635
======= ======= ======= =======
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for income taxes $723 $257 $1,352 $654
==== ==== ====== ====
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING
AND FINANCING ACTIVITIES
Purchases of property and
equipment in other accrued
liabilities $3,054 $570 $3,054 $570
====== ==== ====== ====
Deferred offering costs in
accounts payable and other
accrued liabilities $264 $ - $264 $ -
==== === === ==== === ===
Conversion of redeemable
convertible preferred stock to
common stock $657,687 $ - $657,687 $ -
======== === === ======== === ===
Cloudera, Inc.
Three Months Ended July 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 average shares
assets outstanding
---
Cost of revenue-
Subscription $15,215 $(3,693) $(510) $ - $11,012
Subscription gross
margin 79% 5% 1% - % 85%
Cost of revenue-
Services 16,755 (3,890) - - 12,865
Services gross
margin (6)% 25% - % - % 19%
Gross profit 57,858 7,583 510 - 65,951
Total gross margin 64% 8% 1% - % 73%
Research and
development 42,844 (13,128) - - 29,716
Sales and marketing 62,135 (12,137) (431) - 49,567
General and
administrative 18,564 (6,603) - - 11,961
Loss from operations (65,685) 39,451 941 - (25,293)
Operating margin (73)% 44% 1% - % (28)%
Net loss (64,229) 39,451 941 - (23,837)
Net loss per share,
basic and diluted
(1) $(0.48) $0.29 $0.01 $0.01 $(0.17)
______________
(1) See below for a reconciliation of
weighted-average shares
outstanding used to calculate
non-GAAP net loss per share
Cloudera, Inc.
Three Months Ended July 31, 2016
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 average shares
assets outstanding
---
Cost of revenue-
Subscription $9,706 $(374) $(514) $ - $8,818
Subscription gross
margin 81% 1% 1% - % 83%
Cost of revenue-
Services 11,633 (457) - - 11,176
Services gross
margin 16% 3% - % - % 19%
Gross profit 43,117 831 514 - 44,462
Total gross margin 67% 1% 1% - % 69%
Research and
development 26,635 (1,458) - - 25,177
Sales and marketing 46,902 (1,474) (431) - 44,997
General and
administrative 8,367 (1,815) - - 6,552
Loss from operations (38,787) 5,578 945 (32,264)
Operating margin (60)% 9% 1% (50)%
Net loss (38,727) 5,578 945 - (32,204)
Net loss per share,
basic and diluted
(1) $(1.07) $0.15 $0.03 $0.60 $(0.29)
______________
(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 July 31, Six Months Ended July 31,
--------------------------- -------------------------
2017 2016 2017 2016
---- ---- ---- ----
GAAP weighted-
average shares,
basic and diluted 134,506 36,257 87,293 36,090
Assumed preferred
stock conversion 1,628 74,907 37,661 74,907
Assumed IPO
issuance 375 - 477 -
--- --- --- ---
Non-GAAP
weighted-average
shares, diluted 136,509 111,164 125,431 110,997
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) Q3 FY
---------- --- ---
GAAP
net
loss ($70) - (67) ($427) - (425)
Stock-
based
compensation
expense 34 298
Amortization
of
acquired
intangible
assets 1 3
Non-
GAAP
net
loss ($35) - (32) ($126) - (124)
GAAP
weighted-
average
shares,
basic
and
diluted 137 - 139 112 - 114
Assumed
preferred
stock
conversion - 19
Assumed
IPO
issuance - 1
--- ---
Non-
GAAP
weighted-
average
shares,
diluted 137 - 139 132 - 134
(1) Stock-based compensation
expense in fiscal 2018 is expected
to be $34 million in the third
quarter and $33 million in the
fourth quarter. These amounts are
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.
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SOURCE Cloudera, Inc.
