HashiCorp Inc Reports Third Quarter Fiscal 2025 Financial Results
Intellectia.AI
HashiCorp, Inc. Reports Third Quarter Fiscal 2025 Financial Results
San Francisco, Dec. 5, 2024 — HashiCorp, Inc. (NASDAQ: HCP), The Infrastructure Cloud™ company, disclosed its financial results for the third quarter of fiscal 2025, ending October 31, 2024.
Financial Metrics:
| Metric | Q3 FY2025 | Q3 FY2024 | Year-over-Year Change |
|---|---|---|---|
| Total Revenue | $173.4 million | $146.1 million | +19% |
| GAAP Net Loss | $13.0 million | $39.5 million | Improvement |
| Non-GAAP Net Income | $26.9 million | $5.6 million | Substantial Increase |
| GAAP Earnings per Share | $(0.06) | $(0.20) | Improvement |
| Non-GAAP Earnings per Share | $0.13 | $0.03 | Substantial Increase |
HashiCorp demonstrated strong financial performance, with a significant revenue growth of 19% year-over-year. The company's focus on cost management is evident from the marked reduction in GAAP net loss and the notable increase in non-GAAP net income.
Segment Revenue Performance:
| Segment | Q3 FY2025 | Q2 FY2025 | Quarter-over-Quarter Change | Q3 FY2024 | Year-over-Year Change |
|---|---|---|---|---|---|
| HashiCorp Cloud Platform (HCP) | $29.0 million | $26.5 million | +9.4% | $19.9 million | +45.7% |
The substantial growth in cloud platform revenues, which rose by over 45% year-over-year, underscores HashiCorp's expanding cloud service adoption and strategic focus on enhancing its Infrastructure Cloud vision.
Key Developments and Operational Highlights:
- Proposed merger with IBM, with an expected enterprise value of $6.4 billion.
- Approval of the merger agreement by HashiCorp stockholders.
- Completion of the merger anticipated in the first calendar quarter of 2025, subject to conditions.
- No conference call or forward financial guidance provided due to the pending transaction with IBM.
Corporate Comments:
Dave McJannet, CEO of HashiCorp, emphasized the company's robust year-over-year revenue growth and the increase in high-value customers, reflecting the strong market adoption of their solutions. He highlighted the successful HashiConf event, where significant product updates were unveiled.
Werner Schwock, Interim CFO & CAO, noted the promising growth within the HashiCorp Cloud Platform, attributing it to new product features and the company's strategic focus on cloud innovation.
Dividends and Share Repurchase Program:
There were no announcements concerning dividends or share repurchase programs.
Overall, HashiCorp's third quarter financial results highlight solid growth and strategic advancements, amplified by significant developments such as the impending merger with IBM.
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