News: Company sees a 196% fourth quarter revenue increase from the previous year.
Hortonworks reported its financial results for fourth quarter and full year 2015, with the company seeing subscription revenue growth of 146% year-over-year.
Highlights from the Hadoop software company’s financial results saw it post revenue of $37 million for the quarter, representing a 196% increase from the fourth quarter last year. Its gross profit for Q4 was $21.7 million compared to the $46.2 million loss it made last year.
The firm, which has just completed its first year as a public company, posted total GAAP revenue for the full financial year of $121.9 million, an increase of 165% compared to last year. Gross profit was $66.8 million compared to a gross loss of $34.8 million in 2014.
Billings for the company were up $52.1 million for the fourth quarter of 2015, a 63% increase over gross billings of $31.9% in the same period last year. For the full year the company saw a 90% increase over billings compared to the previous year, bringing in $165.9m compared to $87.1m.
Despite these positives the company reported a net loss of $179.1 million on its revenue of $121.9 million.
Recently the company has seen its share price fall after it announced the sale of 8.4 million additional shares in a follow-on offering to raise $100 million. The company priced the offering at $9.50 a share compared to the $16 pricing on the day of its IPO.
Following the announcement of the stock sale in January of this year, the open-source software distributor saw its shares drop from $15.58 to $10.44.
Since the company went public, its shares have dropped from $26.38 to $7.91. This however, isn’t something that is just affecting Hortonworks. Tableau recently lost half its value while Splunk lost a quarter of its value.
Rob Bearden, CEO and chairman of the board of directors of Hortonworks, said: "We more than doubled our customer base in 2015 and exited the year with over 800 customers. As evidenced by our 159% dollar-based net expansion rate over the trailing four quarters, we are excited to serve as the preferred IT partner during this transformational period in the data management industry."