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Hortonworks Reports Financial Results for Fourth Quarter and Full Year 2015

SANTA CLARA, Calif.—February 10, 2016—Hortonworks, Inc.® (NASDAQ: HDP) today announced financial results for the fourth quarter and full year 2015.

“We are pleased with our fourth quarter performance, which was highlighted by support subscription revenue growth of 146% year-over-year,” said Rob Bearden, chief executive officer and chairman of the board of directors of Hortonworks. “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.”

Fourth Quarter 2015 Financial Highlights:

  • Revenue: Total GAAP revenue was $37.4 million for the fourth quarter of 2015, an increase of 196 percent compared to the fourth quarter of 2014.
  • Gross Billings: Gross billings were $52.1 million for the fourth quarter of 2015, a 63 percent increase over gross billings of $31.9 million in the same period last year.
  • Gross Profit: Total GAAP gross profit was $21.7 million for the fourth quarter of 2015, compared to gross loss of $46.2 million in the same period last year. Non-GAAP gross profit for the fourth quarter of 2015 was $22.8 million, compared to $6.0 million in the fourth quarter of 2014. Non-GAAP gross margin was 61 percent for the fourth quarter of 2015, compared to 36 percent during the same period last year.
  • Operating Loss: GAAP operating loss for the fourth quarter of 2015 totaled $50.6 million, compared to a loss of $92.5 million during the fourth quarter last year. Non-GAAP operating loss for the fourth quarter of 2015 was $32.9 million, compared to a loss of $37.0 million for the same period last year.
  • Net Loss: GAAP net loss for the fourth quarter of 2015 was $50.2 million, or $1.11 per basic and diluted share, compared to a net loss of $90.6 million, or $5.38 per basic and diluted share, in the fourth quarter of 2014. Non-GAAP net loss for the fourth quarter of 2015 was $32.7 million, or $0.72 per basic and diluted share, compared to a net loss of $36.9 million, or $2.19 per basic and diluted share, in the same period last year.
  • Adjusted EBITDA: Adjusted EBITDA for the fourth quarter of 2015 resulted in a loss of $16.8 million, compared to a loss of $21.3 million for the fourth quarter of 2014.
  • Deferred Revenue: Deferred revenue was $106.8 million for the fourth quarter of 2015, a 16 percent increase over the $92.1 million reported as of September 30, 2015 and a 70 percent increase over the $62.9 million reported as of December 31, 2014.
  • Cash & Investments: As of December 31, 2015, Hortonworks had cash and investments of $96.9 million, compared to $116.3 million as of September 30, 2015 and $204.5 million as of December 31, 2014.

Full Year 2015 Financial Highlights:

  • Revenue: Total GAAP revenue was $121.9 million for the year ended December 31, 2015, an increase of 165 percent compared to last year.
  • Gross Billings: Gross billings were $165.9 million, a 90 percent increase over gross billings of $87.1 million in fiscal year 2014.
  • Gross Profit: Total GAAP gross profit was $66.8 million, compared to gross loss of $34.8 million in fiscal year 2014. Non-GAAP gross profit for the year was $69.5 million, compared to $19.8 million in fiscal year 2014. Non-GAAP gross margin was 57 percent for fiscal year 2015, compared to 38 percent in fiscal year 2014.
  • Operating Loss: GAAP operating loss totaled $179.6 million, compared to a loss of $173.5 million during fiscal year 2014. Non-GAAP operating loss for the year was $133.6 million, compared to a loss of $105.7 million for fiscal year 2014.
  • Net Loss: GAAP net loss for the year was $179.1 million, or $4.13 per basic and diluted share, compared to a net loss of $177.4 million, or $24.16 per basic and diluted share, in fiscal year 2014. Non-GAAP net loss for fiscal year 2015 was $133.3 million, or $3.08 per basic and diluted share, compared to a net loss of $105.5 million, or $14.37 per basic and diluted share, in fiscal year 2014.
  • Adjusted EBITDA: Adjusted EBITDA for the year resulted in a loss of $85.3 million for fiscal year 2015, compared to a loss of $69.5 million for fiscal year 2014.

A reconciliation of GAAP to non-GAAP financial measures has been provided in the financial statement tables included in this press release.

Recent Business Highlights

  • Booz Allen Hamilton. In February 2016, Hortonworks and Booz Allen Hamilton announced a strategic alliance to advance business transformation. Through this alliance, clients across the federal and commercial sectors will now seamlessly access both Hortonworks Data Platform (HDP™) and Booz Allen’s expertise to build and gain transformational insights.
  • Partnerworks. In January 2016, Hortonworks announced Partnerworks, a comprehensive global program to support and enable partners selling, implementing and innovating with Hortonworks solutions. The Partnerworks program allows partners to access, align with and gain support from Hortonworks’ open source technology experts and go-to-market capabilities. Partnerworks also offers new and more extensive trainings, access to deep technical resources and new certifications. The new program will help partners accelerate their business while providing best-in-class solutions for customers.
  • Arkena. In January 2016, Hortonworks announced that Arkena, one of Europe’s leading media services companies, is using HDP to provide its media customers with an advanced analytics platform to deliver content to OTT customers through its content delivery network. The Apache Hadoop-powered platform enables Arkena to better serve customers’ needs for real-time data analysis.
  • Munich Re. In December 2015, Hortonworks announced that Munich Re, one of the world’s leading reinsurers, became a Hortonworks customer. Multiple Munich Re business units will benefit from its newly created data lake platform which leverages HDP for specific business analytics use cases as well as big data applications.
  • Apache Spark and Hortonworks Community Connection. In December 2015, Hortonworks announced coming advancements of HDP with the in-memory analytic capabilities of Spark. Specifically, Apache Spark 1.5.2 will include support for Spark SQL and Spark Streaming. Hortonworks’ commitment to Spark is focused on helping customers accelerate data science, maintain seamless data access, drive innovation at the core and ultimately scale for the enterprise. In addition, Hortonworks launched Hortonworks Community Connection, a new online collaboration destination for developers, DevOps, customers and partners to get answers to questions, collaborate on technical articles and share code examples from GitHub.
  • Billy Mobile. In November 2015, Hortonworks announced that Billy Mobile, the fast-growing mobile marketing company, adopted HDP for data collection, processing and analysis for significantly more flexibility, scale and reliability than had previously been possible. By partnering with Hortonworks, Billy Mobile is positioned for continuous growth by leveraging Big Data to successfully serve the demanding telco and advertising markets.
  • SmartSense. In October 2015, Hortonworks announced that it is delivering proactive issue resolution and personalized Hadoop cluster insights to all of its HDP support subscription customers through its SmartSense™ technology. For Hortonworks’ support subscription customers, Hortonworks SmartSense delivers the industry’s first proactive monitoring features to build, manage and scale a Hadoop cluster.

Financial Outlook

As of February 10, 2016, Hortonworks is providing the following non-GAAP financial outlook for its first quarter and full year 2016:

For the first quarter of 2016, we expect:

  • Total revenue to be $39.5 million.
  • Gross billings to be $49.5 million.
  • Adjusted EBITDA to be a loss of $23.5 million.

For the full year 2016, we expect:

  • Total revenue to be $188.0 million.
  • Gross billings to be $261.0 million.
  • Adjusted EBITDA to be a loss of $55.0 million.

 Fourth Quarter and Full Year 2015 Earnings Conference Call and Webcast Details

Hortonworks will hold a conference call and webcast today to discuss the results and outlook at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) on Wednesday, February 10, 2016. Interested parties may access the call by dialing (877) 930-7786 in the U.S. or (253) 336-7423 from international locations. In addition, a live audio webcast of the conference call will be available on the Hortonworks Investor Relations website at http://investors.hortonworks.com.

Shortly after the conclusion of the conference call, a replay of the audio webcast will be available on the Hortonworks Investor Relations website for approximately seven days.

Statement regarding use of non-GAAP financial measures

The Company reports non-GAAP results for revenue, gross profit and margins, operating loss and margins, net loss, basic and diluted net loss per share, adjusted EBITDA and gross billings in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP.

The Company’s financial measures under GAAP include stock-based compensation expense, contra-revenue, acquisition-related items, amortization of intangible assets, depreciation expense, and other income/expense, net. Management believes the presentation of operating results that exclude these items provides useful supplemental information to investors and facilitates the analysis of the Company’s core operating results and comparison of operating results across reporting periods. Management also believes that this supplemental non-GAAP information is therefore useful to investors in analyzing and assessing the Company’s past and future operating performance.

Non-GAAP revenue is calculated as GAAP revenue excluding the non-GAAP contra-revenue adjustments associated with the issuance of equity to an affiliate of AT&T. Management believes non-GAAP revenue offers investors useful supplemental information regarding the performance of our business, and will help investors better understand our business.

Gross Billings are calculated as non-GAAP revenue plus the change in total deferred revenue. Management believes gross billings offer investors useful supplemental information regarding the performance of our business, and will help investors better understand our business.

Non-GAAP gross profit is calculated as non-GAAP revenue less our non-GAAP cost of revenue. Management believes non-GAAP gross profit offers investors useful supplemental information regarding the performance of our business, and will help investors better understand our business.

Non-GAAP gross margin is calculated as non-GAAP gross profit divided by non-GAAP revenue. Management believes non-GAAP gross margin offers investors useful supplemental information regarding the performance of our business, and will help investors better understand our business.

Non-GAAP operating loss is calculated as GAAP operating loss plus non-GAAP revenue adjustments and non-GAAP cost of revenue and operating expense adjustments. Management believes non-GAAP operating loss offers investors useful supplemental information regarding the performance of our business, and will help investors better understand our business.

Non-GAAP operating margin is calculated as non-GAAP operating loss divided by non-GAAP revenue. Management believes non-GAAP operating margin offers investors useful supplemental information regarding the performance of our business, and will help investors better understand our business.

Non-GAAP net loss is calculated as GAAP net loss plus non-GAAP revenue adjustments and non-GAAP cost of revenue and operating expense adjustments. Management believes non-GAAP net loss offers investors useful supplemental information regarding the performance of our business, and will help investors better understand our business.

Non-GAAP net loss per basic and diluted share is calculated as non-GAAP net loss divided by the weighted average shares outstanding for the period. Management believes non-GAAP net loss per basic and diluted share offers investors useful supplemental information regarding the performance of our business, and will help investors better understand our business.

Adjusted EBITDA is calculated as gross billings minus non-GAAP cost of revenue and operating expenses plus adjustments to non-GAAP cost of revenue and operating expenses. Management believes adjusted EBITDA offers investors useful supplemental information regarding the performance of our business, and will help investors better understand our business.

Use of forward-looking statements

This release contains “forward-looking statements” regarding our performance, including in the section titled “Financial Outlook.” Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make.

The important factors that could cause actual results to differ materially from those in any forward-looking statements include, but are not limited to, the following: (i) we have a history of losses, and we may not become profitable in the future, (ii) we have a limited operating history, which makes it difficult to predict our future results of operations, and (iii) we do not have an adequate history with our support subscription offerings or pricing models to accurately predict the long-term rate of support subscription customer renewals or adoption, or the impact these renewals and adoption will have on our revenues or results of operations.

Further information on these and other factors that could affect our financial results and the forward-looking statements in this press release are included in our Form 10-K filed on March 27, 2015, our Quarterly Report on Form 10-Q for the quarter ended September 30, 2015 filed November 4, 2015 and our final prospectus dated February 1, 2016 and filed on February 2, 2016, or in other filings we make with the Securities Exchange Commission from time to time, particularly under the caption Risk Factors.

We undertake no obligation, and do not intend, to update these forward-looking statements.

About Hortonworks

Hortonworks is the leader in accelerating business transformations with Open Enterprise Hadoop by developing, distributing and supporting an enterprise-scale data platform built entirely on open source technology including Apache™ Hadoop®. Our team comprises the largest contingent of builders and architects within the Hadoop ecosystem who represent and lead the broader enterprise requirements within these communities.

The Hortonworks Data Platform provides an open platform that deeply integrates with existing IT investments and upon which enterprises can build and deploy Hadoop-based applications.

Hortonworks has deep relationships with the key strategic data center partners that enable our customers to unlock the broadest opportunities from Hadoop.

For more information, visit www.hortonworks.com. Join us at the Apache Hadoop 10 year anniversary party, held at Hadoop Summit Europe and North America in 2016.

Hortonworks, HDP and SmartSense are registered trademarks or trademarks of Hortonworks, Inc. and its subsidiaries in the United States and other jurisdictions.

Hortonworks, Inc.

Unaudited Condensed Consolidated Statement of Operations

(in thousands, except share and per share data)

 

  Three Months Ended December 31, Years Ended December 31,
    2015 2014   2015   2014  
Support subscription and professional services revenue:          
  Support subscription   $ 25,555 $ 6,368     $ 77,728 $ 25,558
  Professional services     11,866       6,292       44,216       20,490  
  Total support subscription and professional services revenue     37,421       12,660       121,944       46,048  
Cost of revenue:                                
  Support subscription     4,491       49,812       13,705       52,687  
  Professional services     11,206       9,067       41,466       28,192  
  Total cost of revenue     15,697       58,879       55,171       80,879  
                                   
Gross profit (loss)     21,724       (46,219)     66,773       (34,831)
                                 
Operating expenses:                                
  Sales and marketing     37,969       26,142       133,052       70,695  
  Research and development     20,407       11,501       66,645       37,771  
  General and administrative     13,901       8,597       46,669       26,231  
  Contribution of acquired technology to the    Apache Software Foundation                       3,971  
Total operating expenses     72,277       46,240       246,366       138,668  
                                 
Loss from operations     (50,553)       (92,459)     (179,593)       (173,499)
Other income (expense), net     422       1,911       908       (4,977)
Loss before income tax     (50,131)       (90,548)     (178,685)       (178,476)
Income tax expense (benefit)     103       85       432       (1,111)
                                 
Net loss   $ (50,234)     $ (90,633)   $ (179,117)     $ (177,365)
                                 
Net loss per share of common stock, basic and diluted   $ (1.11)   $ (5.38)   $ (4.13)   $ (24.16)
                                 
Weighted average shares used in computing net loss per share of common stock, basic and diluted     45,384,975       16,846,018       43,318,044       7,341,465  

 

 

                 

 

 

 

 


 

Hortonworks, Inc.

Unaudited Condensed Consolidated Balance Sheets

(in thousands, except share and per share data)

 

    December 31, 2015     December 31, 2014    
                   
ASSETS                    
CURRENT ASSETS:                    
Cash and cash equivalents  $     35,748    $   129,084    
Short-term investments       58,553       75,381    
Accounts receivable, net       53,913       32,900    
Prepaid expenses and other current assets       5,276       3,728    
Total current assets       153,490       241,093    
Property and equipment, net       15,422       11,182    
Long-term investments       2,592          
Goodwill       34,333       2,119    
Intangible assets       4,002          
Other non-current assets       872       304    
Restricted cash       1,308       1,341    
TOTAL ASSETS  $     212,019  $     256,039    
                     
LIABILITIES AND STOCKHOLDERS’ EQUITY                    
CURRENT LIABILITIES:                    
Accounts payable  $     6,365  $     7,087    
Accrued compensation and benefits       12,685       9,913    
Accrued expenses and other current liabilities       14,989       6,333    
Deferred revenue       90,407       50,280    
Total current liabilities       124,446       73,613    
Long-term deferred revenue       16,372       12,643    
Other long-term liabilities       3,610       2,713    
TOTAL LIABILITIES       144,428       88,969    
   
STOCKHOLDERS’ EQUITY:                    
   
Common stock, par value of $0.0001 per share—500,000,000 shares authorized as of December 31, 2015 and December 31, 2014; 45,692,391 and 40,987,583 shares issued and outstanding as of December 31, 2015 and December 31, 2014, respectively       5       4    
Additional paid-in capital       518,986       439,005    
Accumulated other comprehensive loss       (546)       (202)    
Accumulated deficit       (450,854)       (271,737)    
TOTAL STOCKHOLDERS’ EQUITY       67,591       167,070    
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY  $     212,019  $     256,039    
                     

 


Hortonworks, Inc.

Unaudited Condensed Consolidated Statements of Cash Flows

(In thousands)

 

                           
   

Three Months Ended

December 31,

 

Years Ended

December 31,

    2015   2014   2015   2014
                 
CASH FLOWS FROM OPERATING ACTIVITIES:    

 

                           
Net loss   $ (50,234)   $ (90,633)   $ (179,117)     $ (177,365)
Adjustments to reconcile net loss to net cash used in operating activities:                                
  Depreciation   1,438       485       4,499       1,204  
  Amortization of intangible asset     222             393        
  Amortization of premiums from investments   193       346       949       921  
  Stock-based compensation expense   17,220       3,541       40,939       9,032  
  Contra-revenue adjustment related to share purchase agreement                     2,040  
  Loss on disposal of assets     2       30       522       118  
  Loss on early exit of lease         (41)           407  
  Contribution of acquired technology to the Apache Software Foundation                       3,971  
  Deferred income tax benefit     (140)           (140)       (1,279)
  Common stock warrant, including change in fair value           (1,795)           5,391  
  Contra revenue and cost of revenue adjustment related to vesting of the 2011 Yahoo! Warrant           52,000             52,000  
  Other     14             14        
Changes in operating assets and liabilities:                              
  Accounts receivable   (8,370)     (11,594)     (21,629)     (20,188)
  Prepaid expenses and other current assets   783       (608)     (1,519)     (2,716)
  Other assets   146       (99)     (580)     (282)
  Accounts payable   1,570       (201)     1,648       906  
  Accrued expenses and other current liabilities   2,083       (4,949)     6,154       (4,287)
  Accrued compensation and benefits   1,272       4,745       2,801       5,891  
  Deferred revenue   15,233       15,203       44,381       34,995  
  Other long-term liabilities     (211)       485       1,349       1,377  
Net cash used in operating activities   (18,779)     (33,085)     (99,336)     (87,864)
                               

CASH FLOWS FROM INVESTING

   ACTIVITIES:

                             
Purchases of investments   (11,643)     (2,022)     (102,631)     (86,780)
Proceeds from maturities of investments   41,493       10,500       118,510       23,620  
Acquisitions, net                 (3,541)     (2,996)
Issuance of promissory note receivable                 (2,500)      
Change in restricted cash           (175)     31       (366)
Purchases of property and equipment   (1,466)     (4,392)     (12,839)     (6,276)
Net cash provided by (used in) investing activities   28,384       3,911       (2,970)     (72,798)
                               

 

Hortonworks, Inc.

Unaudited Condensed Consolidated Statements of Cash Flows (continued)

(In thousands)

 

    Three Months Ended
December 31,
    Years Ended
December 31,
      2015       2014       2015       2014  
CASH FLOWS FROM FINANCING ACTIVITIES:                                
Proceeds from sale of preferred stock, net of issuance costs                     149,547  
Proceeds from initial public offering, net of issuance costs           112,732             110,359  
Payments for deferred offering costs                 (835)      
Proceeds from issuance of common stock   1,665       956       10,417       2,580  
Proceeds from payments on promissory notes           4,746             4,865  
Repurchase of restricted shares related to promissory notes           (2,909)           (2,909)
Payment of capital lease liability     (170)           (170)      
Net cash provided by financing activities   1,495       115,525       9,412       264,442  
Effect of foreign currency exchange rates on cash and cash equivalents   (442)           (442)      
Net increase (decrease) in cash and cash equivalents   10,658       86,351       (93,336)     103,780  
Cash and cash equivalents—Beginning of period   25,090       42,733       129,084       25,304  
Cash and cash equivalents—End of period   $ 35,748     $ 129,084     $ 35,748     $ 129,084  
                           

 

 

Reconciliation of GAAP to Non-GAAP

(in thousands, except share and per share amounts)

                         
  Three Months Ended December 31,   Years Ended December 31,  
  2015   2014   2015   2014  
Non-GAAP Revenue:
GAAP revenue $ 37,421     $ 12,660     $ 121,944     $ 46,048    
Contra-revenue         4,047       65       6,087    
Non-GAAP revenue $ 37,421     $ 16,707     $ 122,009     $ 52,135    

 

                         
Gross Billings:
Non-GAAP revenue $ 37,421     $ 16,707     $ 122,009     $ 52,135  
Deferred revenue — end of period   106,779       62,923       106,779       62,923  
Less: Deferred revenue — beginning of period   (92,071)       (47,720 )     (62,923)       (27,928)
Total change in deferred revenue   14,708       15,203       43,856       34,995  
Gross billings $ 52,129     $ 31,910     $ 165,865     $ 87,130  

 

                         
Non-GAAP Gross Profit and Margin:
Gross profit (loss) $ 21,724     $ (46,219)   $ 66,773     $ (34,831)  
Stock-based compensation expense   1,086       261       2,702       580    
Contra-revenue         4,047       65       6,087    
Cost of revenue adjustment for 2014 Yahoo! Warrant         47,953             47,953    
Non-GAAP gross profit $ 22,810     $ 6,042     $ 69,540     $ 19,789    
Gross margin percentages:                                
GAAP   58 %     (365) %     55 %     (76) %  
Non-GAAP   61 %     36 %     57 %     38 %  

 

                         
Non-GAAP Operating Loss and Margin:
Operating loss $ (50,553)     $ (92,459)   $ (179,593)   $ (173,499)
Stock-based compensation expense   17,220       3,541       40,939       9,032  
Contra-revenue         4,047       65       6,087  
Cost of revenue adjustment for 2011 Yahoo! Warrant         47,953             47,953  
Acquisition-related retention bonus   210             4,048        
Amortization of intangible   222             393        
Contribution of acquired developed technology to the Apache Foundation                     3,971  
Loss on asset write-off               503        
Loss on early exit of lease         (41)           407  
     Other                     338  
Non-GAAP operating loss $ (32,901)     $ (36,959)   $ (133,645)   $ (105,711)
Operating margin percentages:                              
GAAP   (135) %     (730) %     (147) %     (377) %
Non-GAAP   (88) %     (221) %     (110) %     (203) %

 

 

 

Reconciliation of GAAP to Non-GAAP (continued)

(in thousands, except share and per share amounts)

 

    Three Months Ended December 31,       Years Ended December 31,  
    2015       2014       2015       2014  
Non-GAAP Net Loss and Net Loss per Share:
Net loss $ (50,234)   $ (90,633)   $ (179,117)   $ (177,365)
Stock-based compensation expense   17,220       3,541       40,939       9,032  
Contra-revenue         4,047       65       6,087  
Cost of revenue adjustment for 2011 Yahoo! Warrant         47,953             47,953  
Acquisition-related retention bonus   210             4,048        
Amortization of intangible   222             393        
Contribution of acquired developed technology to the Apache Foundation                     3,971  
Loss on asset write-off               503        
Loss on early exit of lease         (41)           407  
2014 Yahoo! common stock warrant         (1,795)           5,391  
Tax benefit related to acquisitions   (140)           (140)     (1,279)
Other                     338  
Non-GAAP net loss $ (32,722)   $ (36,928)   $ (133,309)   $ (105,465)
                               
Weighted average shares   45,384,975       16,846,018       43,318,044       7,341,465  
Non-GAAP net loss per share $ (0.72)   $ (2.19)   $ (3.08)   $ (14.37)

 

                         
Adjusted EBITDA:                                
Gross billings $ 52,129     $ 31,910     $ 165,865     $ 87,130    
Less: Cost of revenue   (15,697)     (58,879)     (55,171)     (80,879)  
Less: Operating expenses   (72,277)     (46,240)     (246,366)     (138,668)  
Add: Non-GAAP cost of revenue and operating expense adjustments:                                
Stock-based compensation expense   17,220       3,541       40,939       9,032    
Depreciation expense   1,438       485       4,499       1,204    
Cost of revenue adjustment for 2011 Yahoo! Warrant         47,953             47,953    
Acquisition-related retention bonus   210             4,048          
Amortization of intangible   222             393          
Contribution of acquired developed technology to the Apache Foundation                     3,971    
Loss on asset write-off               503          
Loss on early exit of lease         (41)           407    
Other                     338    
Adjusted EBITDA $ (16,755)   $ (21,271)   $ (85,290)   $ (69,512)  

 

Stock-based compensation expense by function:                            
Cost of revenue $ 1,086     $ 261     $ 2,702     $ 580  
Sales and marketing   4,806       903       11,688       1,881  
Research and development   6,942       1,111       15,193       2,257  
General and administrative   4,386       1,266       11,356       4,314  
Stock-based compensation expense $ 17,220     $ 3,541     $ 40,939     $ 9,032  

 

 

 

 

 


 

For Additional Information Contact:

Brian Marshall

VP, Corporate Development

bmarshall@hortonworks.com

650-305-7806

For more information :

Michelle Lazzar
408-828-9681