• Record quarterly revenue of $82.6 million, up 34% year-over-year
• Record second quarter bookings of $91.3 million, up 30% year-over-year
• Ended the quarter with over 2,300 clients and approximately 20.5 million users
SANTA MONICA, Calif. – August 6, 2015 – Talent management software provider Cornerstone OnDemand, Inc. (NASDAQ: CSOD) today announced results for its quarter ended June 30, 2015.
Revenue for the second quarter of 2015 was $82.6 million, representing a 34% increase compared to the same period in 2014. Non-GAAP revenue for the second quarter of 2015 was $82.8 million, representing a 35% increase compared to the same period in 2014.1
Bookings, which the Company defines as revenue plus the change in deferred revenue for the period, were $91.3 million for the second quarter of 2015, representing a 30% increase compared to the same period in 2014.1 Bookings for the first six months of 2015 were $154.8 million, representing a 29% increase compared to the same period in 2014.1 Deferred revenue at June 30, 2015 was $189.6 million, representing a 36% increase compared to the balance at June 30, 2014.
“Our Q2 results reflect another quarter of strong performance, highlighted by sustained execution from the core business and contributions from Latin America and the public sector,” said Adam Miller, the Company’s President and CEO. “Our demonstrated global demand, momentum from recent investments, and commitment to operational excellence, drives our enthusiasm about the path ahead.”
The Company’s operating loss for the second quarter of 2015 was $(19.2) million, yielding an operating loss margin of (23)%, compared to an operating loss of $(13.1) million, yielding an operating loss margin of (21)%, for the second quarter of 2014.
Non-GAAP operating loss for the second quarter of 2015 was $(6.5) million, yielding a non-GAAP operating loss margin of (8)%, compared to a non-GAAP operating loss of $(4.4) million, yielding a non-GAAP operating loss margin of (7)%, for the second quarter of 2014.1
The Company’s net loss for the second quarter of 2015 was $(23.3) million, yielding a net loss margin of (28)%, or a $(0.43) net loss per share, compared to a net loss of $(16.6) million, yielding a net loss margin of (27)%, or a $(0.31) net loss per share, for the second quarter of 2014.
Non-GAAP net loss for the second quarter of 2015 was $(8.4) million, yielding a non-GAAP net loss margin of (10)%, or a $(0.16) non-GAAP net loss per share, compared to a non-GAAP net loss of $(5.9) million, yielding a non-GAAP net loss margin of (10)%, or a $(0.11) non-GAAP net loss per share, for the second quarter of 2014.1
The Company ended the quarter with over 2,300 clients and over 20.5 million users.2
| 1 | Bookings, non-GAAP revenue, non-GAAP operating loss, non-GAAP operating loss margin, non-GAAP net loss, non-GAAP net loss margin, and non-GAAP net loss per share are non-GAAP financial measures. Please see the discussion in the section “Non-GAAP Financial Measures” and the reconciliations at the end of this release. | |
| 2 | Includes contracted clients and active users of our Enterprise and Mid-Market solution, excluding Cornerstone for Salesforce and Cornerstone Growth Edition. |
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