Cloudera Inc (NYSE: CLDR) stock soared 21 percent on 6 Sep (as of 11:59 AM GMT-4; Source: Google finance) better than expected results for the second quarter 2019 and raised full-year 2019 guidance. The company raised its full-year 2019 guidance due to higher projected subscription revenue. The company now expects revenue to be in the range of $440 million to $450 million, up from previous projections of $435 million to $445 million. For FY 19, subscription revenue is expected to be in the range of $372 million to $377 million, representing approximately 24% year-over-year growth. Operating cash flow is expected to be in the range of approximately negative $35 million. Non-GAAP net loss per share is expected to be in the range in the range of $0.53 to $0.50 per share.

For the third quarter of 2019, CLDR expects total revenue to be in the range of $113 million to $114 million, representing approximately 20% year-over-year growth. Subscription revenue is expected to be in the range of $96 million to $97 million, representing approximately 24% year-over-year growth. Non-GAAP net loss per share is expected to be in the range of $0.12 to $0.10 per share

CLDR in the second quarter of FY 19 has reported the adjusted loss per share of 8 cents, beating the analysts’ estimates for the adjusted loss per share of 15 cents, as per Thomson Reuters consensus estimates. The company had reported the adjusted revenue growth of 23 percent to $110.3 million in the second quarter of FY 19, beating the analysts’ estimates for revenue of $107.7 million. Subscription revenue grew 26% to $93.1 million compared to the second quarter of FY18. Subscription revenue represented 84% of total revenue, up from 82% in the second quarter of FY18. Non-GAAP subscription gross margin for the second quarter was 87%, up from 85% in the second quarter of fiscal 2018. The customers with annual recurring revenue greater than $100,000 were 568, up 30 for the quarter

Meanwhile, the company has made transformative investments in two areas. First, the company has refined the go-to-market model to reduce customer acquisition costs and to sustain high net expansion rates. And secondly, the company is investing in innovative and differentiated technology in machine learning, analytics, and cloud to expand the competitive moats

As of July 31, 2018, the company had total cash, cash equivalents, marketable securities and restricted cash of $458.2 million.