Cloud Stocks: Cloudera Grows Through Acquisition

According to a Research and Markets report, the global Hadoop market was valued at $26.74 billion in 2019 and is projected to grow at 38% CAGR to $340.35 billion by 2027. Cloudera (NYSE: CLDR) is a leading player in the market that continues to deliver strong quarterly results. The company has been expanding its offerings by adding new products and acquiring smaller players.

Cloudera’s Financials

Cloudera’s recently reported third-quarter revenues grew 10% to $217.9 million, significantly ahead of the market’s forecast of $201.79 million. Net loss was $0.04 per share compared with a net loss of $0.29 per share a year ago. On an adjusted basis, net income was $0.15 per share, which was better than the market’s forecast of net income of $0.09 per share.

During the quarter, subscription revenues grew 18% to $197.4 million and services revenues fell 34.5% to $20.5 million.

For the current quarter, Cloudera forecast revenues of $219-$222 million with an earnings forecast ranging from of $0.10-$0.12. It expects to end the current year with revenues of $862-$865 million and a net income of $0.40-$0.42 per share. The market was looking for revenues of $215.43 million for the quarter with a net income of $0.10 per share and revenues of $849.77 million for the year with a net income of $0.33 per share.

Cloudera’s Acquisition

During the quarter, Cloudera announced its acquisition of Texas-based is a PaaS-based streaming data engine on Apache Flink and Kafka. Founded in February of 2016 by Erik Beebe and Kenny Gorman, enables SQL queries to be performed on data streams. It was set up to make it simpler to build streaming applications built on real-time data. Traditionally, this process involves a lot of coding with Java, Scala or similar technologies. Eventador, on the other hand, simplified the process by allowing users to use SQL to query streams of real-time data without implementing complex codes.

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Disclosure: All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article expresses my own opinions based on my own ...

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Jason Green 4 weeks ago Member's comment

I almost pooped my pants when I read acquisition!