Hortonworks, Inc (HDP) saw its loss widen to $57.05 million, or $0.94 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $50.23 million, or $1.11 a share. On the other hand, adjusted net loss for the quarter narrowed to $30.55 million, or $0.50 a share from a loss of $32.72 million or $0.72 a share, a year ago.
Revenue during the quarter surged 38.85 percent to $51.96 million from $37.42 million in the previous year period. Gross margin for the quarter expanded 735 basis points over the previous year period to 65.40 percent.
Operating loss for the quarter was $57.20 million, compared with an operating loss of $50.55 million in the previous year period.
However, the adjusted operating loss for the quarter stood at $30.69 million compared to operating loss of $32.90 million in prior year period.
"Our fourth quarter performance was highlighted by double-digit growth in support subscription revenue, clearly showing continued strong market demand for our open source platforms," said Rob Bearden, chief executive officer and chairman of the board of directors of Hortonworks. "The combination of enterprise customers’ accelerating business transformations fueled by data and our continued financial discipline positions Hortonworks extremely well for growth and success in 2017."
For the first-quarter, Hortonworks, forecasts revenue to be $52 million.
For financial year 2017, Hortonworks, expects revenue to be in the range of $235 million to $240 million
Operating cash flow remains negativeHortonworks, has spent $81.52 million cash to meet operating activities during the year as against cash outgo of $99.34 million in the last year. Cash flow from investing activities was $9.09 million from investing activities during the year as against cash outgo of $2.97 million in the last year.
Cash flow from financing activities was $90.61 million for the year, up 862.74 percent or $81.20 million, when compared with the last year.
Cash and cash equivalents stood at $53.33 million as on Dec. 31, 2016, up 49.19 percent or $17.58 million from $35.75 million on Dec. 31, 2015.
Working capital drops significantly
Hortonworks, has witnessed a decline in the working capital over the last year. It stood at $5.98 million as at Dec. 31, 2016, down 79.42 percent or $23.07 million from $29.04 million on Dec. 31, 2015. Current ratio was at 1.04 as on Dec. 31, 2016, down from 1.23 on Dec. 31, 2015.
Days sales outstanding went up to 73 days for the quarter compared with 66 days for the same period last year.
At the same time, days payable outstanding went down to 17 days for the quarter from 19 for the same period last year.
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