Stock Monitor: Autodesk Post Earnings Reporting
LONDON, UK / ACCESSWIRE / June 14, 2018 / If you want access to our free earnings report on Hortonworks, Inc. (NASDAQ: HDP), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=HDP. Hortonworks reported its first quarter fiscal 2018 operating and financial results on May 08, 2018. The business software Company outperformed top- and bottom-line expectations. Additionally, the Company provided guidance for the upcoming quarter and fiscal year. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
Hortonworks' total GAAP revenue was $79.1 million for Q1 2018, reflecting an increase of 41% compared to revenue of $56.0 million in Q1 2017. The Company's reported numbers exceeded analysts' estimates of $75.2 million.
During Q1 2018, Hortonworks' support subscription revenue was $61.5 million, or 78% of total revenue, for the reported quarter, up 46% compared to Q1 2017. From a deal-specific perspective, the Company had 10 deals over $1 million in Q1 2018.
During Q1 2018, Hortonworks' total GAAP gross profit was $56.8 million compared to $38.1 million for Q1 2017. The Company's non-GAAP gross profit was $58.8 million for the reported quarter versus $39.5 million for the year earlier comparable quarter.
Hortonworks' GAAP gross margin was 72% compared to 68% in Q1 2017. The Company's non-GAAP gross margin was 74% for the reported quarter compared to 71% in the prior year's corresponding quarter.
For Q1 2018, Hortonworks' GAAP operating loss was $40.8 million compared to $54.4 million for Q1 2017. The Company's non-GAAP operating loss was $14.3 million for the reported quarter compared to $30.5 million for the year earlier same quarter. Hortonworks' GAAP operating margin was negative 52% for Q1 2018, compared to negative 97% for Q1 2017. Hortonworks' non-GAAP operating margin was negative 18% for Q1 2018 compared to negative 54% for Q1 2017.
Hortonworks' GAAP net loss was $42.1 million, or $0.55 per diluted share, compared to a GAAP net loss of $54.8 million, or $0.89 per diluted share, in Q1 2017. The Company's non-GAAP net loss was $15.5 million, or $0.20 per diluted share, compared to a non-GAAP net loss of $30.9 million, or $0.50 per diluted share, for the year earlier same quarter. Hortonworks' reported numbers were better than Wall Street's estimates for a loss of $0.27 per share.
Hortonworks' total contract liabilities, which is comprised of short-term deferred revenue, other contract liabilities, and long-term deferred revenue, were $249.5 million as of March 31, 2018, compared to $252.5 million as of January 01, 2018, and $275.2 million as of December 31, 2017.
As of March 31, 2018, cash and investments totaled $89.4 million compared to $72.5 million as of December 31, 2017, and $83.4 million as of March 31, 2017.
The Company's operating cash flow was $8.0 million in the reported quarter compared to operating cash flow used of $9.0 million for the prior year's same quarter.
For the second quarter of 2018, Hortonworks is forecasting total GAAP revenue of $80.0 million. The Company is expecting GAAP operating margin between negative 57% and negative 52%, and non-GAAP operating margin between negative 24% and negative 19%.
For the full year 2018, Hortonworks is projecting total GAAP revenue between $325.0 million and $330.0 million. The Company is estimating GAAP operating margin between negative 52% and negative 47%, and non-GAAP operating margin between negative 23% and negative 18%.
Stock Performance Snapshot
June 13, 2018 - At Wednesday's closing bell, Hortonworks' stock advanced 2.33%, ending the trading session at $18.01.
Volume traded for the day: 1.82 million shares, which was above the 3-month average volume of 994.11 thousand shares.
Stock performance in the last month – up 2.68%; and past twelve-month period – up 34.60%
After yesterday's close, Hortonworks' market cap was at $1.45 billion.
The stock is part of the Technology sector, categorized under the Technical & System Software industry.
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