News: Hadoop vendor posts a better than expected Q3.
Hortonworks saw a net loss of $32.5 million in Q3, beating analyst estimates.
This was a 5 percent increase compared to Q3 2014.
The software company saw its revenue at $33.1 million for Q3, an increase of 159 percent year-on-year.
The loss of 74 cents per share and the revenue were ahead of analyst estimates of 83 cents per share and revenue of $30.7 million.
Revenue was driven by 168 percent year-on-year subscription revenue growth.
The quarter saw the acquisition of Onyara, leading to the introduction of Hortonworks DataFlow. In addition, in August, Hortonworks announced a strategic partnership with EY to produce data management products.
CEO Rob Bearden said: "As leading enterprise organisations continue to deploy the Hortonworks Data Platform in production at scale, as evidenced by our 156 percent dollar-based net expansion rate over the trailing four quarters, we are excited to serve as their trusted IT partner during this transformational period in the data management industry."
Read CBR’s recent exclusive interview with Arun Murthy, founder of Hortonworks, here.