Cornerstone OnDemand Expands Product Line-Up

According to a  360 Market Updates report, the global talent management software market is estimated to grow by $5.4 billion, at 11% CAGR through 2020-2024. The current pandemic has accelerated the adoption of mobile technologies within the industry. Players like Cornerstone OnDemand (Nasdaq: CSOD) are delivering new products and learning modules to help gain market share.

Cornerstone OnDemand’s Financials

Revenues for the quarter grew 37.6% to $199.50 million with subscription revenues growing 35.1% to $185.6 million. The market was looking for revenues of $188.44 million. EPS of $0.51 surpassed the market’s estimates of $0.21.

For the current quarter, the company forecast revenues between $194-$197 million. For the year, it forecast revenues between $728-$731 million. The market was looking for revenues of $195.76 million for the quarter with an EPS of $0.27. The Street expects the company to end the current year with revenues of $729.98 million with an EPS of $1.40.

Cornerstone OnDemand’s Product Growth

Recently, Cornerstone announced the formation of its AI innovation lab. Cornerstone Innovation Lab for AI is a center of excellence inside the company that is composed of both data scientists and machine learning experts who specialize in innovating practical and ethical ways to add AI technology into the workplace. The innovation lab has already assisted in designing and building its skills engine, the Cornerstone Skills Graph. The technology creates practical uses of AI throughout the organization’s business by performing actions like uncovering people’s existing skills, identifying skills that are necessary for the job roles, and pivoting their roles faster. With this, employees are able to take more control of their career development and can unlock a greater understanding of their personal skill gaps, allowing them to access things like the needed content to help with immediate learning needs.

1 2
View single page >> |

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 ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.