Cloudera Inc (NYSE: CLDR) stock surged over 9.9% on December 6th, 2018 (As of 10:35 am GMT-5; Source: Google finance) after the company posted better than expected results for the third quarter of FY 19. Non-GAAP loss from operations for the third quarter of fiscal 2019 was $3.8 million, compared to a non-GAAP loss from operations of $24.4 million in the third quarter of fiscal 2018. Operating cash flow for the third quarter of fiscal 2019, which includes $6.0 million of merger-related costs, was negative $6.8 million compared to operating cash flow of negative $2.4 million in the third quarter of fiscal 2018. Further, during the third quarter, the company Previewed Cloudera Machine Learning, a new, cloud-native machine learning platform powered by Kubernetes to accelerate the industrialization of AI. CLDR announced availability of Cloudera’s most powerful and comprehensive platform to date – Cloudera Enterprise 6.0
CLDR in the third quarter of FY 19 has reported the adjusted loss per share of 3 cents, beating the analysts’ estimates for the adjusted loss per share of 11 cents. The company had reported the adjusted revenue growth of 25 percent to $118.2 million in the third quarter of FY 19, beating the analysts’ estimates for revenue of $113.8 billion. Subscription revenue was up 28% year-over-year to $99.7 million. Non-GAAP subscription gross margin for the quarter was 89%, up from 86% in the third quarter of fiscal 2018. Customers with annual recurring revenue greater than $100,000 were 601, up 33 for the quarter compared to the second quarter quarter of fiscal 2019. Dollar-based net expansion rate was 127% for the quarter
For the fourth quarter of 2019, CLDR expects Total revenue in the range of $119 million to $122 million, representing 17% year-over-year growth. Subscription revenue is expected in the range of $101 million to $103 million, representing 21% year-over-year growth. Non-GAAP net loss per share is expected in the range of $0.12 to $0.10 per share. Weighted-average shares outstanding of approximately 155 million shares.
For fiscal 2019, the company said it expects revenue in a range between $450 million and $453 million, and an adjusted per-share net loss between 40 cents 38 cents. Subscription revenue is expected in the range of $380 million to $382 million, representing approximately 27% year-over-year growth. Operating cash flows is expected in the range of negative $25 million to $20 million