Hortonworks Tops Q1 Views, Shares Surge

Shares of

jumped more than 9 percent in after-hours trading after the company reported a narrower-than-expected loss for the first quarter on Tuesday. The Santa Clara, California-based company posted a quarterly loss of $40.1 million, or $0.97 per share, versus a year-ago loss of $20.3 million, or $5.25 per share. Excluding one-time items, Hortonworks lost $0.77 per share, versus a loss of $4.08 per share. Its revenue climbed 167 percent year-over-year to $22.8 million in the quarter. However, analysts were projecting a loss of $0.86 per share on revenue of $18.22 million. The average estimate among 3 Estimize users was for a loss of $0.90 per share and revenue of $17.79 billion. Gross billings climbed 99 percent year-over-year to $28.1 million. Its total GAAP gross profit surged to $11.3 million in the quarter, up from $2.6 million in the year-ago quarter. GAAP operating loss came in at $40.5 million, versus a year-ago loss of $20.3 million. Its adjusted EBITDA for the first quarter was a loss of $26.1 million, compared to a year-earlier loss of $12.0 million. As of March 31, 2015, the company had $170.6 million in cash and investments, versuso $204.5 million as of December 31, 2014. "We are pleased with our first quarter performance which was highlighted by strong revenue growth and the addition of 105 new support subscription customer logos," said Rob Bearden, chief executive officer and chairman of the board of directors, Hortonworks. "This brings our support subscription customer base to over 400 and represents over 200% year-over-year growth in our customer base. Coupled with our 143% dollar-based net expansion rate over the trailing four quarters, it is becoming more evident that our land and expand strategy is leading to rapid Hadoop adoption across many enterprise organizations." For the second quarter, the company expects total revenue of $22.5 million to $23.5 million. For the full year 2015, Hortonworks projects total revenue of $94.0 million to $97.0 million. Hortonworks shares gained 9.18 percent to $23.79 in the after-hours trading session.