Talend Reports Third Quarter 2016 Financial Results

Talend (NASDAQ:TLND), a global leader in cloud and big data integration software, today released financial results for the third quarter ended September 30, 2016.

"Our record revenue in the third quarter of 2016 of $27.4 million underscores the demand for our next-generation integration solutions," said Mike Tuchen, Talend CEO. "We had several notable achievements in the quarter. Our total revenue growth continued to accelerate with a 40% increase year-over-year, which is up from 38% in the second quarter. On a constant currency basis, our subscription revenue grew 44% year-over-year. Revenue from our cloud and big data solutions grew over 100% year-over-year for the seventh consecutive quarter, and we booked our largest single deal to date with one of the largest healthcare providers in the world. Talend also achieved free cash flow breakeven in the quarter, which we believe demonstrates the efficiency of our financial model. Overall we are pleased with our continued momentum and demonstrated leadership in big data and cloud integration, which positions us well for the remainder of 2016 and beyond."
Third Quarter 2016 Financial Highlights
(in thousands, except per share data)
Three Months Ended September 30,
2015 2016
Total Revenue $ 19,622 $ 27,391
Year-over-Year % Change 22 % 40 %
Subscription Revenue $ 16,223 $ 22,929
Year-over-Year % Change - on a constant currency basis 41 % 44 %
IFRS operating margin -23 % -22 %
Non-IFRS operating margin (1) -18 % -19 %
Net loss:
IFRS $ (4,499 ) $ (6,374 )
Non-IFRS (1) $ (3,598 ) $ (5,353 )
Net loss per share:
IFRS net loss per share - basic and diluted $ (1.18 ) $ (0.30 )
IFRS net loss per share basic and diluted - as converted basis (2) $ (0.20 ) $ (0.24 )
Non-IFRS net loss per share basic and diluted - as converted basis (1) (2) $ (0.16 ) $ (0.20 )
(1) Non-IFRS financial measures exclude stock-based compensation and amortization of acquired intangibles.
(2) Three months ended September 30, 2016 share count on an as converted basis was 26.8 million, due to the conversion of preferred shares into ordinary shares concurrent with the issuance of 5.7 million ordinary shares on the closing of Talend's IPO on August 3, 2016. Net loss per share on an as converted basis and non-IFRS net loss per share on an as converted basis assume the conversion of the preferred shares to ordinary shares occurred at the beginning of the period.

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