Revenue during the quarter surged 47.36 percent to $47.52 million from $32.25 million in the previous year period. Gross margin for the quarter expanded 428 basis points over the previous year period to 58.39 percent.

Operating loss for the quarter was $64.38 million, compared with an operating loss of $45.25 million in the previous year period.

However, the adjusted operating loss for the quarter stood at $39.94 million compared to operating loss of $33.30 million in prior year period.

"Q3 was a milestone quarter for Hortonworks. We crossed the 1,000 customer count and our operating billings grew 66% year-over-year," said Rob Bearden, chief executive officer and chairman of the board of directors of Hortonworks. “Customers in 60 countries have selected our connected data platforms to leverage a comprehensive data management strategy spanning on-premise, hybrid and public cloud environments. As we continue to work within the Apache Software Foundation to enhance the value to our customers, we are looking forward to future achievements in product functionality and the benefits to be derived from our industry leading solutions."

For fiscal year 2016, Hortonworks, Inc forecasts revenue to be $180.50 million.

For the fourth-quarter 2016, Hortonworks, Inc forecasts revenue to be $48 million.

Operating cash flow remains almost stable
Cash flow from operating activities was almost stable for the quarter at $80.90 million, when compared with the previous year period

The company has spent $10.96 million cash to meet investing activities during the nine month period as against cash outgo of $31.35 million in the last year period.

Cash flow from financing activities was $91.98 million for the nine month period, up 1,061.77 percent or $84.06 million, when compared with the last year period.

Cash and cash equivalents stood at $35.83 million as on Sep. 30, 2016, up 42.81 percent or $10.74 million from $25.09 million on Sep. 30, 2015.

Working capital drops significantly
Hortonworks, Inc has witnessed a decline in the working capital over the last year. It stood at $25.53 million as at Sep. 30, 2016, down 57.37 percent or $34.36 million from $59.90 million on Sep. 30, 2015. Current ratio was at 1.18 as on Sep. 30, 2016, down from 1.57 on Sep. 30, 2015.

Days sales outstanding went down to 116 days for the quarter compared with 126 days for the same period last year.

At the same time, days payable outstanding went up to 40 days for the quarter from 36 for the same period last year.