Why Cloudera Inc (NYSE: CLDR) stock investors are panicking

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Cloudera Inc (NYSE: CLDR) stock fell 37.50% in the pre market session of June 6th, 2019 (as of 9:16 am GMT-4; Source: Google finance) after the company posted mixed results for the  first quarter of FY 20 and the retirement of Chief Executive Officer. Non-GAAP loss from operations for the first quarter of fiscal 2020 was $34.7 million, compared to a non-GAAP loss from operations of $25.7 million for the first quarter of fiscal 2019. Operating cash flow for the first quarter of fiscal 2020, which includes $25.0 million of merger-related payments, is of $11.5 million, compared to operating cash flow of $24.4 million for the first quarter of fiscal 2019.

Cloudera plan for IPO

CLDR in the first quarter of FY 20 has reported the adjusted loss per share of 13 cents, beating the analysts’ estimates for the adjusted loss per share of 23 cents, as per Zacks Consensus Estimate. The company had reported the adjusted revenue of $187.47 million in the first quarter of FY 20, missing the analysts’ estimates for revenue by 0.44%. The company posted the subscription revenue of $154.8 million for the first quarter and the Non-GAAP subscription gross margin for the quarter is 85%. The company delivered the annualized recurring revenue of $672.0 million, representing 21% year-over-year growth

For the second quarter of fiscal 2020, ending July 31, 2019, the company expects the total revenue to be in the range of $180 million to $183 million, subscription revenue is expected to be in the range of $155 million to $157 million and Non-GAAP net loss per share are expected to be in the range of $0.11 to $0.08 per share

For fiscal 2020, ending January 31, 2020, the company expects the annualized recurring revenue growth in the range of 0% to 10%, total revenue is expected to be in the range of $745 million to $765 million, Subscription revenue is expected to be in the range of $635 million to $645 million, Operating cash flow is expected to be in the range of negative $95 million to negative $75 million, including $59 million of non-recurring merger-related payments and Non-GAAP net loss per share is expected to be in the range of $0.32 to $0.28 per share.

Meanwhile, CLDR has announced that Tom Reilly will retire as Chief Executive Officer and as a member of the Board of Directors, effective July 31, 2019. The Board has appointed Martin Cole, Chairman of the Board, as interim Chief Executive Officer, effective at the end of Mr. Reilly’s transition

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