“The growing skills divide is forcing companies around the world to take action to continuously train and reskill their workers. We believe our leading market position puts us in a prime position to capitalize on this multi-year macro trend,” said Adam Miller, founder and CEO of Cornerstone, HR software company, in a press release announcing Second Quarter 2019 Financial Results:
“Revenue for the second quarter of 2019 was $141.9 million compared to a guided range of $137.0 million to $140.0 million. This represents a 7.1% increase compared to the same period of the prior year. Revenue growth on a constant currency basis was 8.7%.
Subscription revenue for the second quarter of 2019 was $132.6 million compared to a guided range of $131.0 million to $133.0 million. This represents a 15.5% increase compared to the same period of the prior year. Subscription revenue growth on a constant currency basis was 17.3%.
Operating income for the second quarter of 2019 was $(3.6) million, yielding a margin of (2.5)%, compared to $(3.1) million and margin of (2.3)% in the same period of the prior year.
Non-GAAP operating income for the second quarter of 2019 was $16.6 million, yielding a margin of 11.7%, compared to $13.2 million and margin of 10.0% in the same period of the prior year.
Net loss for the second quarter of 2019 was $(8.8) million, or a $(0.15) diluted net loss per share, compared to $(12.0) million and $(0.21) diluted net loss per share in the same period of the prior year.
Non-GAAP net income for the second quarter of 2019 was $12.4 million, or a $0.21 diluted net income per share, compared to $7.8 million and $0.12 diluted net loss per share in the same period of the prior year.
Operating cash flow for the second quarter of 2019 was $21.2 million, yielding a margin of 14.9%, compared to $17.2 million, yielding a margin of 13.0%, in the same period of the prior year.
Unlevered free cash flow for the second quarter of 2019 was $9.5 million, yielding a margin of 6.7%, compared to $7.9 million, yielding a margin of 6.0%, in the same period of the prior year.”
Source: Cornerstone OnDemand, Inc
http://cornerstoneondemand.com
MarketAnalysis.com: Human Resources (HR) Software Market
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