Cloudera, Inc. (NYSE: CLDR) reported financial results for the third quarter of fiscal 2021. Total revenue amounted to USD 217.9 Million, a 10% rise compared to the same period a year ago. Subscription revenue amounted to USD 197.4 Million, a 18% rise year over year.
“In the third quarter, CDP Private Cloud became generally available, we announced three new upcoming cloud-native services on CDP Public Cloud, and the number of CDP Public Cloud paying customers increased by more than 40%. With CDP Private Cloud now in-market, our hybrid multi-cloud offerings can be implemented by customers and our Enterprise Data Cloud vision is nearly complete. We are beginning to see an acceleration of migrations by existing customers from legacy Cloudera and Hortonworks platforms to CDP,” said Rob Bearden, chief executive officer, Cloudera. “We believe that Cloudera has never been better-positioned to capture more of the rapidly growing data management and analytics market opportunity for hybrid multi-cloud solutions. As a result, we have announced today that the board has authorized the repurchase of an additional $500 million in shares of our stock.”
Operations for the third quarter reached USD 12.3 Million compared to USD 82.5 Million for the third quarter of fiscal 2020. Operating cash flow for the third quarter of fiscal 2021 netted USD 18.4 Million, a drastic difference from negative USD 5.9 Million in the third quarter of fiscal 2020.
The company’s board of directors have authorized the repurchase of an additional USD 500 Million in shares of the company’s common stock through open market purchases, block trades and or privately negotiated transactions.