Cloudera (CLDR) Q4 profit beats estimates, guides Q1 above view

Cloudera Inc. (NYSE: CLDR) reported a narrower loss in the fourth quarter of 2020 driven by a 47% jump in revenue. The results exceeded analysts’ expectations. Further, the company guided the bottom line for the first quarter and fiscal 2021 above the consensus view.

Net loss was $64.3 million, narrower than a loss of $85.52 million in the previous year quarter. Adjusted earnings per share were $0.04 compared to a loss per share of $0.15 a year ago. Revenue jumped by 47% to $211.72 million. Analysts had expected a loss of $0.03 per share on revenue of $201.79 million for the fourth quarter.

Looking ahead into the first quarter of 2021, the company expects adjusted per-share results between a loss of $0.01 and a profit of $0.01, and total revenue in the range of $202-207 million. The consensus estimates a loss of $0.03 per share on revenue of $205.21 million.

For fiscal 2021, adjusted earnings are predicted to be in the range of $0.25-0.29 per share and total revenue is projected to be in the range of $860-880 million. The consensus estimates a loss of $0.01 per share on revenue of $864.76 million for the full year.

Subscription revenue is predicted to be in the range of $180-183 million for the first quarter and $750-760 million for fiscal 2021. The adjusted operating results are anticipated to be between a loss of $3 million and a profit of $2 million for the first quarter, while adjusted operating income is predicted to be $82-92 million for the full year.

For the fourth quarter, the annualized recurring revenue increased by 11% year-over-year to $731.2 million. The customers with annualized recurring revenue greater than $100,000 were 1004, up 27 from the prior quarter.

Read: Okta Q4 earnings review

The top line continues to be benefited by the increase in customers due to the reality of hybrid cloud data management and analytics. The company continues to see strong interest in CDP with many customers across its base building plans for CDP Public Cloud adoption.

The results were backed by the company’s expansion into data analytics, machine learning, artificial intelligence, big data, cloud, Internet of Things (IoT), data warehouse and cybersecurity. These are considered to be the large addressable market.

The company’s board of directors has authorized the repurchase of up to $100 million of its common stock. No time limit was set for the completion of the repurchase program. Cloudera currently expects to fund the repurchase program using its cash balance.

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