Cloudera Tops Q2 Consensus; Names Kevin Cook Finance Chief

Author: Anusuya Lahiri | August 30, 2021 10:44am

Enterprise data cloud company Cloudera Inc (NYSE:CLDR) reported second-quarter FY22 revenue growth of 10% year-on-year to $236.1 million beating the analyst consensus of $227.2 million.
Segments: Subscription revenue was $213.3 million, up 11% Y/Y. Service revenue remained flat at $22.8 million.
Annualized Recurring Revenue grew 13% Y/Y.
The non-GAAP subscription gross margin improved 200 bps to 91%.
The non-GAAP operating income improved by 49.3% Y/Y to $44.5 million.
Non-GAAP EPS of $0.15 beat the consensus of $0.09.
Cloudera held $796.1 million in cash and equivalents and used $12.2 million in operating cash flow.
Additionally, the shareholder approval for Clayton, Dubilier & Rice, LLC (CD&R) and KKR & Co Inc's (NYSE:KKR) takeover of Cloudera is likely to accelerate its hybrid data cloud strategy.
Cloudera named SVP Finance Kevin Cook to succeed CFO Jim Frankola, who will transition to a newly created position, Strategic Advisor, upon closing the transaction with CD&R and KKR.
In addition, Chief Product Officer, Arun Murthy, will depart the company effective immediately.
Cloudera suspended its Q3 outlook due to the transaction.
Price Action: CLDR shares traded lower by 0.06% at $15.94 on the last check Monday.