Open source integration software vendor Talend (Nasdaq: TLND) went public last year. Within the year, the company has delivered a strong IPO, constantly trading above its list price, and has attained a Billion Dollar Unicorn status in the public market.
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Talend’s Financials
Talend was founded in 2006 by Bertrand Diard and Fabrice Bonan who wanted to build a system integration solution that could be simple and flexible to deploy. They wanted to build an open source solution for proprietary ETL/data integration tools of the time. Talend initially expanded into close areas to provide a complete data management platform, and then into the application integration space. Within a few years, Talend began to work in the Big Data space. It now supports traditional data use cases and provides advanced integration platform for Big Data.
Talend recently reported its third quarter results. Revenues grew 40% over the year to $38.9 million, versus analyst estimates of $38.4 million. Net losses for the quarter narrowed down to $5.3 million during the quarter from $6.4 million a year ago.
By segment, subscription revenues grew 41% to $33 million. Professional services brought in the remaining $5.9 million in revenues for the quarter.
For the current quarter, Talend forecast revenues of $41-$42 million with non-IFRS loss from operations of $(9.2)-$(8.2) million. The market was looking for revenues of $41.6 million. The company expects to end the year with revenues of $148.1-$149.1 million and non-IFRS loss from operations of $(21.1)-$(20.1) million.
Talend’s Product Expansion
Talend has been focusing on its product and market expansion activities. Recently, it announced the launch of a new European Data Center that will cater to its expansion in the European market. It also introduced a new Data Governance & Compliance solution to help its customers address the European Union’s new General Data Protection Regulation.
Talend also launched a new solution called Talend Metadata Manager (TMM) to bring transparency and accessibility to data lakes and other Big Data projects by providing an end-to-end view of enterprise information. It will help collect information from databases, modern self-service analytical tools like Tableau, Big Data and cloud platforms like Cloudera and Microsoft Azure, and any other data pipelines managed by the Talend Data Fabric integration platform.
Earlier last month, Talend also announced the acquisition of Cloud-Based API Design and Testing solutions provider Restlet. Reslet is a cloud-based API design and testing platform that uses the cloud to provide API design, documentation, testing, and hosting capabilities to developers. Talend plans to leverage Restlet’s technology to making it easier for customers to take an API-first design approach to monetizing and securely sharing information in real-time with clients and business partners.
The market is pleased with Talend’s performance. Its stock is currently trading at $40.37 with a market cap of $1.2 billion. The stock has climbed steadily from $18 that it had listed at, back in the summer of 2016 at a valuation of $537 million. Earlier last month, the stock had reached a 52-week high of $46.32. Prior to listing, Talend had raised $101.58 million from investors including Balderton Capital, Bpifrance, Chausson Finance, Galileo Partners, Idinvest Partners, Iris Capital, Silver Lake Partners, Silver Lake Sumeru, and Sumeru Equity Partners at an undislosed valuation.
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