Posted on Wednesday, Aug 22nd 2018
Open source integration software vendor Talend (Nasdaq: TLND) had a strong IPO in 2016 inspite of a tough market. It attained the Billion Dollar Unicorn status after going public and continues its good run.
Talend recently reported its second quarter results with revenues growing 39% over the year to $49.8 million, against the market’s forecast of $49.5 million. Net losses for the quarter reduced from $0.20 per share a year ago to $0.12 per share and were in line with the Street’s forecast. Overall, GAAP net losses came in at $8.7 million for the quarter, compared with $7.8 million a year ago.
By segment, subscription revenues grew 39% to $42.1 million. Professional services grew 40% to $7.7 million. This was the eighth consecutive quarter when cloud subscription revenues grew more than 100% over the year. Enterprise subscription customers grew by 47% in the quarter to 427 customers and represented nearly 67% of its subscription revenue.
During the quarter, Talend’s products received several industry recognitions. It was named a leader in Forrester Research’s Big Data Fabric Wave and a leader in Gartner’s Magic Quadrant for Data Integration Tools for the third consecutive year. According to a report by Million Insights, the global system integration market is estimated to grow from $233.9 billion in 2015 to $528.2 billion by 2025 driven by the growth in the field of cloud and virtual technology.
For the current quarter, Talend forecast revenues of $51.6-$52.6 million with non-IFRS loss from operations of $(3.4)-$(2.7) million. The market was looking for revenues of $51.7 million. Talend expects to end the year with revenues of $204.6-$206.6 million and non-IFRS loss from operations of $0.52-$0.45 per share. The Street forecast revenues of $205.1 million for the year with a non-IFRS loss of $0.49 per share.
Talend’s Microsoft Tie-up
Talend continues to expand its product offerings and recently announced its expansion into the Azure SQL Warehouse. It released a data fabric uploader that has been designed to help integrate big data to Microsoft’s upgraded Azure SQL data warehouse. Its connector will facilitate the movement of data sets to the public data warehouse without the need for shifting source systems. Additionally, Talend will also support Azure SQL data warehouse orchestration, management, and data governance to drive real-time business analytics. To support analytics, the platform will include native integration of the Microsoft Azure distribution of Apache Spark-based Databricks along with Blob Storage and Power BI.
Microsoft also recently released an extensive partner network that includes Talend as part of its data integration and migration specialists. The recognition form Microsoft will help customers shift in-house data warehouses to the cloud through Talend.
Despite the continued losses, the market is pleased with Talend. The company is not very worried about its losses. It anticipates cloud momentum to continue as it rolls out “a new cloud product roadmap in 2018 and collaborate more closely with leading cloud partners”. Its stock is currently trading at $58.57 with a market cap of $1.8 billion. The stock had fallen to $35.46 in February last year and climbed to a high of $64.55 in July this year.
More investigation and analysis of Unicorn companies can be found in my latest Entrepreneur Journeys book, Billion Dollar Unicorns.
This segment is a part in the series : Billion Dollar Unicorns
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