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Cornerstone OnDemand's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Cornerstone OnDemand (CSOD)

Q1 2012 Earnings Call

May 14, 2012 5:00 p.m. ET

Executives

Adam Miller - President and CEO

Perry Wallack - CFO

Analysts

Laura Lederman – William Blair

Greg Dunham – Goldman Sachs

Mark Murphy - Piper Jaffray

Rick Sherlund – Nomura

Michael Huang – Needham & Company

Scott Berg – Feltl

Brandon Barnicle – Pacific Crest Securities

Presentation

Operator

Good day ladies and gentlemen, and welcome to Cornerstone OnDemand’s first quarter 2012 earnings conference call. [Operator instructions.] I’d now like to turn the conference over to Perry Wallack, CFO for Cornerstone OnDemand.

Perry Wallack

Good afternoon everyone. This is Perry Wallack, CFO of Cornerstone OnDemand, and welcome to our first quarter 2012 earnings conference call. Today’s call will begin with Adam providing a brief overview of our company and the first quarter, and then I will review some key financial results for the quarter, which ended March 31, 2012. Later, we will conduct a question and answer session.

By now you should have received a copy of our press release, which was released after the market closed today and furnished with the SEC on Form 8-K. You can also access the press release and the detailed financials on our investor relations website. As a reminder, today’s call is being recorded and a replay will be made available following the conclusion of the call.

During the call, we will be referring to both GAAP and non-GAAP financial measures. The reconciliation of our GAAP to non-GAAP information is provided in the press release and on our website. All of the financial measures that we will discuss today are non-GAAP unless we state that the measure is a GAAP number. Any non-GAAP outlook we provide has not yet been reconciled with the comparable GAAP outlook because, among other things, we cannot reliably estimate our future stock-based compensation expenses, which are dependent on our future stock price.

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