Earnings Review and Free Research Report: Tintri’s Q2 Top-line Grew 27% Y-o-Y
LONDON, UK / ACCESSWIRE / September 29, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Tintri, Inc. (NASDAQ: TNTR), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=TNTR, following the Company's announcement of its financial results on September 07, 2017, for the second quarter fiscal 2018 (Q2 FY18). The Mountain View, California-based Company's quarterly revenues grew 27% y-o-y. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
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Earnings Reviewed
During the quarter ended on July 31, 2017, Tintri reported revenues of $34.87 million compared to $27.56 million recorded at the end of Q2 FY17. However, revenues numbers for Q2 FY18 missed market consensus estimates of $35.68 million.
The enterprise cloud enabler reported GAAP net loss attributable to common stockholders of $25.33 million, or $2.05 loss per diluted share, in Q2 FY18 compared to net loss attributable to common stockholders of $25.67 million, or $7.53 loss per diluted share, in Q2 FY17. The Company's non-GAAP net loss attributable to common stockholders stood at $27.44 million in Q2 FY18 versus $21.99 million in Q2 FY17. Additionally, non-GAAP pro-forma diluted net loss for the reported quarter stood at $0.91 per diluted share in Q2 FY18, compared to non-GAAP pro-forma diluted net loss of $1.03 per diluted share in the prior year's same quarter. Wall Street had expected the Company to report non-GAAP pro-forma diluted loss of $0.93 per share.
Operational Metrics
For the reported quarter, the Company's GAAP gross profit came in at $19.71 million, or 56.5% of revenues, versus GAAP gross profit of $17.83 million, or 64.7% of revenues, in Q2 FY17. The Company's non-GAAP gross profit stood at $20.94 million, or 60.1% of revenues, for Q2 FY18 compared to non-GAAP gross profit of $17.99 million, or 65.3% of revenues, in the year-ago comparable quarter.
During Q2 FY18, the Company spent $14.68 million on non-GAAP research and development (R&D) expenses compared to $11.61 million in Q2 FY17. The Company's total non-GAAP operating expenses were $45.82 million in Q2 FY18 versus $38.89 million in the last year's corresponding quarter. The Company posted non-GAAP loss from operations of $24.88 million during Q2 FY18 compared to non-GAAP loss from operations of $20.90 million in Q2 FY17.
Segment Performance
In Q2 FY18, Product segment's revenues came in at $26.33 million, rising from $20.77 million in the year-ago same period. The segment's gross profit also increased to $14.86 million in Q2 FY18 from $13.61 million in Q2 FY17.
Support and maintenance segment reported revenues of $8.54 million in Q2 FY18 compared to $6.79 million in Q2 FY17. The segment's gross profit was $4.86 million for the reported quarter, up from $4.22 million in Q2 FY17.
Cash Flow and Balance Sheet
In the six months ended July 31, 2017, net cash used in operating activities was $41.46 million compared to net cash used in operating activities $39.51 million in the year-ago same period. As on July 31, 2017, the Company had $72.69 million in cash and cash equivalents compared to $48.05 million as on January 31, 2017. Additionally, the Company reported long-term debt of $49.54 million in its books of accounts as on July 31, 2017, rising from $48.91 million as on January 31, 2017.
Outlook
In its guidance for Q3 FY18, Tintri's management expects revenues to be in the range of $36 million to $37 million. The Company projects Q3 FY18 non-GAAP loss in the range of $0.77 per share to $0.81 per share.
Stock Performance
On Thursday, September 28, 2017, Tintri's stock closed the trading session at $3.37, slightly falling 0.88% from its previous closing price of $3.40. A total volume of 359.86 thousand shares were exchanged during the session. The stock currently has a market cap of $103.46 million.
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