Cloudera, Inc. (NYSE: CLDR) stock lost over 10.2% on September 3rd, 2020 (As of 11:46 am GMT-4; Source: Gogole finance) post lower than expected 2Q21 performance
For the second quarter of 2021, the overall Revenue rose 9% yoy to $214 million, and a Non-GAAP Operating Income of $30million. Subscription revenue rose 17% yoy to $192 million. Annualized recurring revenue rose 12% yoy to $739 million driven by new bookings and expansion bookings. The total number of customers with >$100,000 of ARR rose to 1,007. The number of customers who generate ARR greater than $1 million rose 25% yoy to 172.
The fir launched CDP Private Cloud solution as a part of its Enterprise Data Cloud strategy, which separates compute and storage while maintaining data context for greater agility, ease-of-use, and more efficient infrastructure consumption. CDP Private Cloud would leverage shared data experience, SDX, providing persistent security and governance and creating a consistent analytic experience for the end user across public and private cloud environments.
CDP Public Cloud and CDP Private Cloud would create a modern data architecture that spans multiple public clouds and private clouds, leveraging data, and supporting the full data lifecycle from the Edge to AI. Management expects that the cloud providers would generate $4 to $5 in compute and storage revenue for every dollar of software revenue earned by Cloudera.
Gross margin improved to 81%, from 77% in pcp boosted by subscription gross margin of 89%, rising from 86% in the year-ago period. Operating income was $30 million for the second quarter, with operating margin of 14%, a major rise of 18 percentage points against pcp.
For fiscal year 2021, the firm sees total revenue to be in the range of $839 million and $853 million, which is a rise of over 7% growth, with subscription revenue in the range of $755 million to $765 million, rising over 14% year-over-year. Operating income is expected to be in the range of $102 million to $112 million, or roughly 13% of revenue. Earnings per share for fiscal 2021 is expected to be in the range of $0.32 to $0.35.