U.S. Markets closed
  • S&P Futures

    4,431.50
    -43.25 (-0.97%)
     
  • Dow Futures

    34,397.00
    -219.00 (-0.63%)
     
  • Nasdaq Futures

    14,613.75
    -227.25 (-1.53%)
     
  • Russell 2000 Futures

    2,005.60
    -15.60 (-0.77%)
     
  • Crude Oil

    86.29
    -0.61 (-0.70%)
     
  • Gold

    1,841.90
    -0.70 (-0.04%)
     
  • Silver

    24.50
    -0.21 (-0.85%)
     
  • EUR/USD

    1.1329
    +0.0012 (+0.1020%)
     
  • 10-Yr Bond

    1.8330
    +0.0060 (+0.33%)
     
  • Vix

    25.59
    +1.74 (+7.30%)
     
  • GBP/USD

    1.3594
    -0.0006 (-0.0449%)
     
  • USD/JPY

    113.6710
    -0.4290 (-0.3760%)
     
  • BTC-USD

    38,751.46
    -3,195.70 (-7.62%)
     
  • CMC Crypto 200

    916.12
    -79.14 (-7.95%)
     
  • FTSE 100

    7,585.01
    -4.65 (-0.06%)
     
  • Nikkei 225

    27,377.44
    -395.46 (-1.42%)
     

Cloudera Reports First Quarter Fiscal 2022 Financial Results

  • Oops!
    Something went wrong.
    Please try again later.
·21 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • CLDR

SANTA CLARA, Calif., June 1, 2021 /PRNewswire/ -- Cloudera, Inc. (NYSE: CLDR), the enterprise data cloud company, reported results for its first quarter of fiscal 2022, ending April 30, 2021. Total revenue for the first quarter was $224.3 million, an increase of 7% as compared to the first quarter of fiscal 2021. Subscription revenue was $200.7 million, an increase of 7% as compared to the first quarter of fiscal 2021. Annualized Recurring Revenue grew 12% year-over-year.

"Our strong fiscal first quarter results reflect continued CDP momentum and customer enthusiasm for our market leading hybrid multi-cloud solution-set," said Rob Bearden, chief executive officer of Cloudera. "We are also pleased to announce our transaction with CD&R and KKR. This transaction provides substantial and certain value to our shareholders while also accelerating Cloudera's long-term path to hybrid cloud leadership for analytics that span the complete data lifecycle - from the Edge to AI. We believe that as a private company with the expertise and support of experienced investors such as CD&R and KKR, Cloudera will have the resources and flexibility to drive product-led growth and expand our addressable market opportunity."

First Quarter Fiscal 2022 Results

  • GAAP loss from operations for the first quarter of fiscal 2022 was $33.8 million, compared to $55.8 million for the first quarter of fiscal 2021

  • Non-GAAP income from operations for the first quarter of fiscal 2022 was $42.5 million, compared to $17.3 million for the first quarter of fiscal 2021

  • Operating cash flow for the first quarter of fiscal 2022 was $162.2 million, compared to $68.4 million for the first quarter of fiscal 2021

  • GAAP net loss per share for the first quarter of fiscal 2022 was $0.14, compared to $0.20 for the first quarter of fiscal 2021

  • Non-GAAP net income per share for the first quarter of fiscal 2022 was $0.12, compared to $0.05 for the first quarter of fiscal 2021

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 April 30, 2021, Cloudera had total cash, cash equivalents, marketable securities and restricted cash of $902.5 million.

Recent Business and Financial Highlights

  • Annualized Recurring Revenue at the conclusion of the first quarter of fiscal 2022 was $805 million, representing 12% year-over-year growth

  • GAAP subscription gross margin for the quarter was 88%, up from 85% in the first quarter of fiscal 2021

  • Non-GAAP subscription gross margin for the quarter was 91%, up from 88% in the first quarter of fiscal 2021

  • Announced agreement to acquire Datacoral to deliver fast and easy data transformations and integrations for any type of data via a robust multi-tenant SaaS architecture

  • Announced agreement to acquire Cazena to deliver instant cloud data lakes, making it easier to operate and use CDP Public Cloud

  • CDP available on Google Cloud and GCP Marketplace

  • Dell EMC PowerScale/Isilon 8.2.2 certified for CDP Private Cloud

  • CDP Public Cloud ISO 27001 certified

Transaction with Clayton, Dubilier & Rice and KKR

In a separate press release issued today, Cloudera announced that it has entered into a definitive agreement to be acquired by affiliates of Clayton, Dubilier & Rice (CD&R) and KKR for approximately $5.3 billion in cash, or $16.00 per share. The press release announcing the transaction is available on the Investor Relations section of Cloudera's website. The transaction is expected to close in the second half of 2021, subject to customary closing conditions, including approval by Cloudera stockholders and receipt of regulatory approvals. Upon closing of the transaction, Cloudera will become a private company, and its common stock will no longer be listed on any public market.

Cancellation of Earnings Conference Call

Due to the announced transaction with CD&R and KKR, Cloudera has cancelled its earnings conference call previously scheduled for June 2, 2021. Additionally, Cloudera will not provide financial guidance for the second quarter of fiscal 2022, and will not provide any further financial guidance with respect to fiscal year 2022.

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. Cloudera delivers an enterprise data cloud for any data, anywhere, from the Edge to AI. Powered by the relentless innovation of the open source community, Cloudera advances digital transformation for the world's largest enterprises. 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 and LinkedIn: linkedin.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.

Important Information and Where to Find It

In connection with the proposed transaction between Cloudera and affiliates of CD&R and KKR, a special stockholder meeting will be announced soon to obtain stockholder approval. Cloudera expects to file with the Securities and Exchange Commission ("SEC") a proxy statement (the "Proxy Statement"), the definitive version of which will be sent or provided to Cloudera stockholders. Cloudera may also file other documents with the SEC regarding the proposed transaction. This document is not a substitute for the Proxy Statement or any other document which Cloudera may file with the SEC. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the Proxy Statement (when it is available) and other documents that are filed or will be filed with the SEC by Cloudera through the website maintained by the SEC at www.sec.gov, Cloudera's investor relations website at https://investors.cloudera.com/home/default.aspx or by contacting the Cloudera investor relations department at the following:

Kevin Cook
investor-relations@cloudera.com
650-644-3900

Participants in the Solicitation

Cloudera and certain of its directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be considered to be participants in the solicitation of Cloudera's stockholders will be set forth in the Proxy Statement for its special stockholder meeting. Cloudera stockholders may obtain additional information regarding the direct and indirect interests of the participants in the solicitation of proxies in connection with the proposed transaction, including the interests of Cloudera directors and executive officers in the transaction, which may be different than those of Cloudera stockholders generally, by reading the Proxy Statement and any other relevant documents that are filed or will be filed with the SEC relating to the transaction. You may obtain free copies of these documents using the sources indicated above.

Cautionary Statement Regarding Forward-Looking Statements About the Proposed Transaction

This communication contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on Cloudera's current expectations, estimates and projections about the expected date of closing of the proposed transaction and the potential benefits thereof, its business and industry, management's beliefs and certain assumptions made by Cloudera and Clayton, Dubilier & Rice, all of which are subject to change. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "could," "seek," "see," "will," "may," "would," "might," "potentially," "estimate," "continue," "expect," "target," similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. All forward-looking statements by their nature address matters that involve risks and uncertainties, many of which are beyond our control, and are not guarantees of future results, such as statements about the consummation of the proposed transaction and the anticipated benefits thereof. These and other forward-looking statements, including the failure to consummate the proposed transaction or to make or take any filing or other action required to consummate the transaction on a timely matter or at all, are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements and caution must be exercised in relying on forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to: (i) the completion of the proposed transaction on anticipated terms and timing, including obtaining stockholder and regulatory approvals, anticipated tax treatment, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies for the management, expansion and growth of Cloudera's business and other conditions to the completion of the transaction; (ii) conditions to the closing of the transaction may not be satisfied; (iii) the transaction may involve unexpected costs, liabilities or delays; (iv) the outcome of any legal proceedings related to the transaction; (v) the failure by CD&R and KKR to obtain the necessary debt financing arrangements set forth in the commitment letters received in connection with the transaction; (vi) the impact of the COVID-19 pandemic on Cloudera's business and general economic conditions; (viii) Cloudera's ability to implement its business strategy; (ix) significant transaction costs associated with the proposed transaction; (x) potential litigation relating to the proposed transaction; (xi) the risk that disruptions from the proposed transaction will harm Cloudera's business, including current plans and operations; (xii) the ability of Cloudera to retain and hire key personnel; (xiii) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed transaction; (xiv) legislative, regulatory and economic developments affecting Cloudera's business; (xv) general economic and market developments and conditions; (xvi) the evolving legal, regulatory and tax regimes under which Cloudera operates; (xvii) potential business uncertainty, including changes to existing business relationships, during the pendency of the merger that could affect Cloudera's financial performance; (xviii) restrictions during the pendency of the proposed transaction that may impact Cloudera's ability to pursue certain business opportunities or strategic transactions; and (xix) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as Cloudera's response to any of the aforementioned factors. While the list of factors presented here is considered representative, such list should not be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Cloudera's financial condition, results of operations, or liquidity. Cloudera does not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.

Non-GAAP Financial Measures

We report all financial information required in accordance with U.S. generally accepted accounting principles (GAAP). To supplement our unaudited and audited 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 cost of revenue-subscription, non-GAAP cost of revenue-services, non-GAAP subscription gross margin, non-GAAP services gross margin, non-GAAP gross margin, non-GAAP gross profit, non-GAAP operating expenses, non-GAAP operating margin, and historical and forward-looking non-GAAP income/loss from operations, non-GAAP net income/loss, and non-GAAP net income/loss per share. These non-GAAP financial measures exclude stock-based compensation, acquisition and disposition-related expenses (if any), extraordinary non-cash real estate impairment charges, and amortization of acquired intangible assets from our unaudited and audited condensed consolidated statement of operations.

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 financial statement tables titled "Use of Non-GAAP Financial Information" as well as the related financial statement 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.

Annualized Recurring Revenue

Annualized Recurring Revenue ("ARR") is a performance metric, which we use to assess the health and trajectory of our business. ARR equals the annualized value of recurring subscription contracts with active entitlements as of the end of the period. ARR does not reflect non-recurring partner revenue, subscription revenue with certain related parties, custom engineering, remote operation and management services, or premium add-on support.

Cloudera, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(unaudited)



Three Months Ended April 30,


2021


2020

Revenue:




Subscription

$

200,656



$

187,085


Services

23,627



23,375


Total revenue

224,283



210,460


Cost of revenue:(1) (2)




Subscription

23,592



28,636


Services

19,526



25,605


Total cost of revenue

43,118



54,241


Gross profit

181,165



156,219


Operating expenses:(1) (2)




Research and development

65,825



64,216


Sales and marketing

107,828



113,135


General and administrative

41,264



34,675


Total operating expenses

214,917



212,026


Loss from operations

(33,752)



(55,807)


Interest (expense) income, net

(3,483)



2,241


Other expense, net

(700)



(2,497)


Loss before provision for income taxes

(37,935)



(56,063)


Provision for income taxes

(2,466)



(1,951)


Net loss

$

(40,401)



$

(58,014)


Net loss per share, basic and diluted

$

(0.14)



$

(0.20)


Weighted-average shares used in computing net loss per share, basic and diluted


292,535




295,293










(1) Amounts include stock-based compensation expense as follows (in thousands):



Three Months Ended April 30,


2021


2020

Cost of revenue – subscription

$

4,292



$

3,992


Cost of revenue – service

2,695



3,987


Research and development

21,261



19,824


Sales and marketing

15,855



15,823


General and administrative

14,521



9,812


Total stock-based compensation expense

$

58,624



$

53,438



(2) Amounts include amortization of acquired intangible assets as follows (in thousands):



Three Months Ended April 30,


2021


2020

Cost of revenue – subscription

$

1,023



$

3,079


Sales and marketing

16,628



16,597


Total amortization of acquired intangible assets

$

17,651



$

19,676


Cloudera, Inc.
Condensed Consolidated Balance Sheets
(in thousands)



April 30,
2021


January 31,
2021


(unaudited)



ASSETS




Current assets:




Cash and cash equivalents

$

169,101



$

298,672


Marketable securities

348,712



297,721


Accounts receivable, net

131,408



316,098


Deferred contract costs

49,308



53,048


Prepaid expenses and other current assets

32,763



32,382


Total current assets

731,292



997,921


Property and equipment, net

17,470



18,065


Marketable securities, non-current

381,326



173,281


Intangible assets, net

514,979



532,630


Goodwill

599,291



599,291


Deferred contract costs, non-current

27,053



31,170


Operating lease right-of-use assets

138,994



146,424


Other assets

10,206



9,819


TOTAL ASSETS

$

2,420,611



$

2,508,601


LIABILITIES AND STOCKHOLDERS' EQUITY




Current liabilities:




Accounts payable

$

1,477



$

2,713


Accrued compensation

52,351



56,643


Other accrued liabilities

32,431



30,196


Operating lease liabilities

19,550



19,574


Contract liabilities

505,977



553,983


Total current liabilities

611,786



663,109


Long-term debt

486,176



487,089


Operating lease liabilities, non-current

162,356



169,296


Contract liabilities, non-current

43,032



54,414


Other accrued liabilities, non-current

6,290



6,763


TOTAL LIABILITIES

1,309,640



1,380,671


STOCKHOLDERS' EQUITY:




Common stock

15



15


Additional paid-in capital

2,800,559



2,776,690


Accumulated other comprehensive income

153



580


Accumulated deficit

(1,689,756)



(1,649,355)


TOTAL STOCKHOLDERS' EQUITY

1,110,971



1,127,930


TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$

2,420,611



$

2,508,601


Cloudera, Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)




Three Months Ended April 30,



2021


2020






CASH FLOWS FROM OPERATING ACTIVITIES





Net loss


$

(40,401)



$

(58,014)


Adjustments to reconcile net loss to net cash provided by operating activities:





Depreciation and amortization


19,628



22,573


Non-cash lease expense


11,051



11,301


Stock-based compensation expense


58,624



53,438


Amortization of deferred contract costs


16,620



16,625


Other


1,182



3,522


Changes in assets and liabilities:





Accounts receivable


185,514



81,828


Prepaid expenses and other assets


(3,777)



10,526


Deferred contract costs


(8,763)



(10,623)


Accounts payable


(891)



307


Accrued compensation


(8,568)



(18,412)


Other accrued liabilities


1,764



(2,895)


Operating lease liabilities


(10,571)



(2,508)


Contract liabilities


(59,202)



(39,311)


Net cash provided by operating activities


162,210



68,357


CASH FLOWS FROM INVESTING ACTIVITIES





Purchases of marketable securities


(382,013)



(80,860)


Proceeds from sale of marketable securities


2,900



66,059


Maturities of marketable securities


120,854



36,794


Capital expenditures


(1,575)



(1,089)


Net cash (used in) provided by investing activities


(259,834)



20,904


CASH FLOWS FROM FINANCING ACTIVITIES





Repurchases of common stock


(18,945)



(25,974)


Principal repayment of debt


(1,250)




Taxes paid related to net share settlement of restricted stock units


(18,056)



(14,017)


Proceeds from employee stock plans


6,489



4,977


Net cash used in financing activities


(31,762)



(35,014)


Effect of exchange rate changes on cash, cash equivalents and restricted cash


(185)



(960)


Net (decrease) increase in cash, cash equivalents and restricted cash


(129,571)



53,287


Cash, cash equivalents and restricted cash — Beginning of period


302,024



110,990


Cash, cash equivalents and restricted cash — End of period


$

172,453



$

164,277


Reconciliation of cash, cash equivalents and restricted cash as shown in the statement of cash flows:



As of April 30,



2021


2020

Cash and cash equivalents


$

169,101



$

160,925


Restricted cash included in Other assets


3,352



3,352


Total cash, cash equivalents and restricted cash


$

172,453



$

164,277


Cloudera, Inc.
Three Months Ended April 30, 2021
GAAP Results Reconciled to Non-GAAP Results
(in thousands, except percentage and per share amounts)
(unaudited)



GAAP


Stock-Based
Compensation
Expense


Amortization of
Acquired
Intangible Assets


Non-GAAP

Cost of revenue- Subscription

$

23,592



$

(4,292)



$

(1,023)



$

18,277


Subscription gross margin

88

%


2

%


1

%


91

%

Cost of revenue- Services

19,526



(2,695)





16,831


Services gross margin

17

%


11

%


%


29

%

Gross profit

181,165



6,987



1,023



189,175


Total gross margin

81

%


3

%


%


84

%

Research and development

65,825



(21,261)





44,564


Sales and marketing

107,828



(15,855)



(16,628)



75,345


General and administrative

41,264



(14,521)





26,743


(Loss) income from operations

(33,752)



58,624



17,651



42,523


Operating margin

(15)

%


26

%


8

%


19

%

Net (loss) income

(40,401)



58,624



17,651



35,874


Net (loss) income per share, basic

(0.14)



0.20



0.06



0.12


Net (loss) income per share, diluted (1)

$

(0.14)



$

0.20



$

0.06



$

0.12



(1) See below for a reconciliation of weighted-average shares outstanding used to calculate non-GAAP net income per share

Cloudera, Inc.
Three Months Ended April 30, 2020
GAAP Results Reconciled to Non-GAAP Results
(in thousands, except percentage and per share amounts)
(unaudited)



GAAP


Stock-Based
Compensation
Expense


Amortization of
Acquired
Intangible Assets


Non-GAAP

Cost of revenue- Subscription

$

28,636



$

(3,992)



$

(3,079)



$

21,565


Subscription gross margin

85

%


2

%


2

%


88

%

Cost of revenue- Services

25,605



(3,987)





21,618


Services gross margin

(10)

%


17

%


%


8

%

Gross profit

156,219



7,979



3,079



167,277


Total gross margin

74

%


4

%


1

%


79

%

Research and development

64,216



(19,824)





44,392


Sales and marketing

113,135



(15,823)



(16,597)



80,715


General and administrative

34,675



(9,812)





24,863


(Loss) income from operations

(55,807)



53,438



19,676



17,307


Operating margin

(27)

%


25

%


9

%


8

%

Net (loss) income

(58,014)



53,438



19,676



15,100


Net (loss) income per share, basic

(0.20)



0.18



0.07



0.05


Net (loss) income per share, diluted (1)

$

(0.20)



$

0.19



$

0.06



$

0.05



(1) See below for a reconciliation of weighted-average shares outstanding used to calculate non-GAAP net income per share

Cloudera, Inc.
Reconciliation of weighted-average shares used for non-GAAP net income per share
(in thousands)
(unaudited)



Three Months Ended April 30,


2021


2020

Weighted-average shares, basic

292,535



295,293


Effect of dilutive securities:




Stock options, unvested restricted stock units and ESPP

10,234



10,863


Weighted-average shares, diluted

302,769



306,156


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 we exclude from our non-GAAP financial measures, we believe 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.

  • Extraordinary non-cash real estate impairment charges. We exclude extraordinary non-cash real estate impairment charges from our non-GAAP financial measures. Extraordinary non-cash real estate impairment charges relate to charges that we incur as a result of activities with respect to our leased office locations. The exclusion of the impairment charges 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.

Cloudera, Inc. (PRNewsfoto/Cloudera, Inc.)
Cloudera, Inc. (PRNewsfoto/Cloudera, Inc.)
Cision
Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/cloudera-reports-first-quarter-fiscal-2022-financial-results-301302777.html

SOURCE Cloudera, Inc.