Cloudera, Inc., the enterprise data cloud company, reported results for its third quarter of fiscal year 2020, ended October 31, 2019. Total revenue for the third quarter was $198.3 million, and subscription revenue was $166.9 million. Annualized Recurring Revenue grew 13% year-over-year.

"I am pleased to report that we executed well in Q3, building on the positive momentum generated in Q2. We delivered strong operating and financial results across the board and launched the Cloudera Data Platform to a great reception from customers, partners and industry analysts," said Marty Cole, chairman of the board and interim chief executive officer, Cloudera. "Customers now have a highly competitive set of cloud-native services from Cloudera, and we've made hybrid cloud data management and analytics a reality via the industry's first enterprise data cloud."

Except where noted, all numbers reported for prior periods are presented for Cloudera on a standalone basis, since there is no comparative year-over-year financial information for the combined company.

GAAP loss from operations for the third quarter of fiscal 2020 was $82.5 million, compared to a GAAP loss from operations of $25.7 million for the third quarter of fiscal 2019.

Non-GAAP loss from operations for the third quarter of fiscal 2020 was $8.2 million, compared to a non-GAAP loss from operations of $3.1 million for the third quarter of fiscal 2019.

Operating cash flow for the third quarter of fiscal 2020, which includes $6.1 million of merger-related payments, was negative $5.9 million, compared to operating cash flow of negative $6.8 million for the third quarter of fiscal 2019.

GAAP net loss per share for the third quarter of fiscal 2020 was $0.29 per share, based on weighted-average shares outstanding of 283.3 million shares, compared to a GAAP net loss per share of $0.17 per share for the third quarter of fiscal 2019, based on weighted-average shares outstanding of 152.2 million shares. See financial statement tables below for additional information regarding historical and forward-looking stock-based compensation expense and shares outstanding.

Non-GAAP net loss per share for the third quarter of fiscal 2020 was $0.03 per share, based on weighted-average shares outstanding of 283.3 million shares, compared to a non-GAAP net loss per share of $0.02 per share for the third quarter of fiscal 2019, based on weighted-average shares outstanding of 152.2 million shares.

A reconciliation of GAAP to non-GAAP financial measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading Non‑GAAP Financial Measures.

As of October 31, 2019, the company had total cash, cash equivalents, marketable securities and restricted cash of $502.2 million.

Recent Business and Financial Highlights

• Annualized Recurring Revenue was $697.4 million, representing 13% year-over-year growth

• Non-GAAP subscription gross margin for the quarter was 86%

• Operating cash flow was negative $5.9 million, including $6.1 million of merger-related payments

• Customers with Annualized Recurring Revenue greater than $100,000 were 977, up 24 from the prior quarter

• Launched the Cloudera Data Platform (CDP) on Amazon Web Services and Microsoft Azure

• Delivered CDP Data Center, our next-generation on-premises offering, representing the strongest elements of the former Cloudera and Hortonworks platforms and new innovations for better scalability, performance and private cloud readiness

• Cloudera debuted as a Strong Performer in The Forrester Wave: Streaming Analytics, Q3 2019 and was named one of "The 11 providers that matter most" in streaming analytics

Business Outlook
The outlook for the fourth quarter of fiscal 2020, ending January 31, 2020, is:

• Total revenue in the range of $200 million to $203 million

• Subscription revenue in the range of $173 million to $176 million

• Non-GAAP net loss per share in the range of $0.04 to $0.02 per share

• Weighted-average shares outstanding of approximately 294 million shares

The outlook for fiscal 2020, ending January 31, 2020, is:

• Annualized Recurring Revenue in the range of $700 million to $720 million

• Total revenue in the range of $782 million to $785 million

• Subscription revenue in the range of $659 million to $662 million

• Operating cash flow in the range of negative $55 million to negative $45 million, including $60 million of merger-related payments

• Non-GAAP net loss per share in the range of $0.21 to $0.19 per share

• Weighted-average shares outstanding of approximately 281 million shares