Cloudera Inc (NYSE: CLDR) stock rose 8.7% on December 6th, 2019 and continued its bullish momentum on December 9th, 2019 (as of 11:07:39; Source: Investing.com) after the company posted better than expected results for the third quarter of FY 20. The company has delivered Annualized Recurring Revenue of $697.4 million, representing 13% year-over-year growth. The company’s Non-GAAP subscription gross margin for the third quarter was 86%. CLDR has generated negative operating cash flow of $5.9 million, including $6.1 million of merger-related payments. The company has posted Non-GAAP loss from operations for the third quarter of fiscal 2020 of $8.2 million, compared to a non-GAAP loss from operations of $3.1 million for the third quarter of fiscal 2019. As of October 31, 2019, the company had generated the total cash, cash equivalents, marketable securities and restricted cash of $502.2 million.
CLDR in the third quarter of FY 20 has reported the adjusted loss per share of 3 cents, beating the analysts’ estimates for the adjusted loss per share of 7 cents, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 35.9 percent to $198.29 million in the third quarter of FY 20, beating the analysts’ estimates for revenue by 5.02%.
For the fourth-quarter, the company is now projecting revenue to be of between $200 million and $203 million for that period, with an adjusted loss to be in the range of two to four cents a share. That’s better than Wall Street’s expectations, as analysts were projecting the revenue of $197 million and a loss of five cents per share. Subscription revenue is expected to be in the range of $173 million to $176 million.
For the full year, the company expects Annualized Recurring Revenue to be in the range of $700 million to $720 million, total revenue is expected to be in the range of $782 million to $785 million, Subscription revenue is expected to be in the range of $659 million to $662 million, Operating cash flow is expected to be in the range of negative $55 million to negative $45 million, including $60 million of merger-related payments and Non-GAAP net loss per share is expected to be in the range of $0.21 to $0.19 per share.
Meanwhile, the company during the third quarter, had launched the Cloudera Data Platform (CDP) on Amazon Web Services and Microsoft Azure. The company has delivered CDP Data Center, which is the next-generation on-premises offering, representing the strongest elements of the former Cloudera and Hortonworks platforms.