That's what sets it apart from more traditional database companies like Oracle. Teradata does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In April, Thoma Bravo acquired SailPoint, an enterprise-security-software company, for about $6.9 billion. RBC analysts wrote that New Relic has long been an acquisition target and that going public would be beneficial for the business in the long-term. "With a strong margin profile but still in recovery from the prior cyber-attack, we think SWI could be an interesting PE candidate for a firm that could leverage a growing SaaS portfolio, unique low-touch sales model and high margins," RBC analysts wrote. While many companies were making public announcements declaring their adoption of cloud-native data warehouse systems, they were keeping on-prem systems such as Teradata up and running for the time being. For the twelve months ended December 31, the Companys non-GAAP effective tax rate was 22.4% for 2021 and 23.2% for 2020. "We still believe edge computing is a real opportunity and that FSLY has good technology, which could be attractive to an acquirer," RBC analysts wrote. 2023 Phase one of GMH, in Gulf of Guinea's Punta Europa, started delivering gas in February 2021. The Companys GAAP effective tax rate for the three and twelve months ended December 31, 2020, includes a net $9 million income tax benefit resulting from the CARES Act of 2020, which allows US corporations a one-time opportunity to claim income tax refunds by allowing a 5-year net operating loss (NOL) carryback for taxable losses incurred in the tax year 2020. What it does: Box makes cloud-based file-sharing and content-management software. The Motley Fool recommends Teradata. Reconciling items include stock-based compensation, capitalized software, amortization of acquisition-related intangible assets and acquisition, integration and reorganization-related items. Total ARR is expected to grow at a mid-to-high-single-digit percentage year-over-year. Heading into a new fiscal year, Teradata says revenue will again grow in the "flat-to-low-single-digit percentage" range in 2022, with public cloud revenue growing 80% and recurring revenue growing in the "low-to-mid-single" digits. GAAP diluted EPS is expected to be in the range of $0.35 to $0.39. The following tables reconcile Teradatas actual and projected results and EPS under GAAP to the Companys actual and projected non-GAAP results and EPS for the periods presented, which exclude certain specified items. The Kings' desire for an experienced starting goaltender was evident when they acquired Korpisalo, as they had hoped for similar success from Cal Petersen, who they signed to a three-year, $15-million contract extension in September 2021. In the UK alone, companies including Sainsbury's, Lloyds Bank, Iceland, Barclays, Unilever, Vodafone, and other big brands still rely on Teradata's on-prem systems for business decision-making as cloud-based systems are yet to meet their performance requirements, sources told The Register. Forward-looking statements generally relate to opinions, beliefs, and projections of expected future financial and operating performance, business trends, liquidity, and market conditions, among other things. This is an increase from at least 70% growth year-over-year, which was previously communicated at Teradatas Investor Day in September 2021. I am proud of our teams steadfast focus on execution and operational excellence that enabled us to meet or beat every element of our annual outlook, said Steve McMillan, President and CEO, Teradata. Teradata Market Cap: $3.2 billion What it does: Teradata makes software for cloud databases and analytics. * Represents the income tax effect of the pre-tax adjustments to reconcile GAAP to Non-GAAP income based on the applicable jurisdictional statutory tax rate of the underlying item. Learn more at Teradata.com. For GAAP purposes, this is a component of the marginal rate and is recognized as tax benefit or expense based on the Companys reported GAAP pre-tax income or loss for the quarter. In particular, free cash flow indicates the amount of cash generated after capital expenditures for, among other things, investment in the Companys existing businesses, strategic acquisitions, strengthening the Companys balance sheet, repurchase of the Companys stock and repayment of the Companys debt obligations, if any. It seems the deal may be multi-territory as The Register has seen documents indicating IBM is answering tickets on behalf of Teradata in Europe. Is this step a sign of an IBM takeover? But many customers are keen to keep on-prem systems up and running for the time being, one source told us, as they weigh up their options for moving to the cloud with Teradata or another cloud system. More software M&A is in the forecast as valuations and stock prices continue to drop and private companies aren't the only ones likely to get gobbled up. To more accurately reflect the impact of the expense on a quarterly basis for non-GAAP purposes, the $3 million of tax expense was recognized ratably each quarter in 2020 instead of being included in the marginal effective rate. Annual recurring revenue (ARR) is defined as the annual value at a point in time of all recurring contracts, including subscription, cloud, software upgrade rights, and maintenance. What it does: Zoom makes video-conferencing tools, including video chat, cloud-phone services, and video software for conference rooms. In a statement to The Register, the $1.8bn turnover [PDF] company said: "These agreements are always confidential, so all we can say in response to your questions is: Teradata has always been a customer-centric organization and that perspective is a key consideration for all business decisions. What it does: Duck Creek Technologies makes cloud software for property-and-casualty-insurance companies. "Even when we outsource elements of the hardware support to reliable third parties, Teradata maintains the overall relationship with the customer and I can confirm that we continue to have hardware support expertise within the company for our on-premises customers.". The Company believes this is a useful metric to investors as it demonstrates progress toward achieving our strategic objectives as outlined in the Form 10-K and Form 10-Q. Aug 23, 2021 4 min read IBM Takes Over Teradata Updated: Sep 16, 2022 The Teradata announcement of outsourcing maintenance agreements to IBM shocked the Teradata community. Free cash flow does not have a uniform definition under GAAP and, therefore, Teradatas definition may differ from other companies definitions of this measure. Our non-GAAP measures are not meant to be considered in isolation to, as substitutes for, or superior to, results determined in accordance with GAAP, and should be read only in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP. Additional information regarding Teradatas operating results is provided below as well as on Teradatas website at investor.teradata.com. They pointed to some deals that had already been done in the space like Citrix and Wrike, Adobe and Workfront, and Atlassian and Trello. Join SI Premium - FREE. More than $1 billion in Cloud ARR, representing over 50% in total ARR in fiscal 2025, Approximately $550 million free cash flow in fiscal 2025, Low 20% non-GAAP operating margin in fiscal 2025, Implementing a returns-based capital return program of at least 50% of free cash flow annually through fiscal 2025, At least 70% growth in Cloud ARR year-over-year, Non-GAAP diluted net earnings per share in the range of $1.60 to $1.70, Free cash flow of approximately $400 million, Public cloud ARR is expected to increase by at least 100% year-over-year, Total ARR is expected to grow at a mid-to-high-single-digit percentage year-over-year. In this environment, analysts and experts expect to see more consolidation and say that larger players will seize the moment to acquire new tools at a good price. Note to Investors Free cash flow does not represent the residual cash flow available for discretionary expenditures since there may be other nondiscretionary expenditures that are not deducted from the measure. Non-GAAP diluted EPS is expected to be in the range of $0.63 to $0.67. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 858-485-3029 office Public cloud ARR is expected to increase by approximately 80% year-over-year. Free cash flow does not have a uniform definition under GAAP and, therefore, Teradatas definition may differ from other companies definitions of this measure. What it does: Fastly makes content-delivery network, or CDN, software, which helps websites and applications load faster. On the strategic-M&A side, the chip giant Broadcom made a deal to acquire VMware for a whopping $61 billion back in May. Why The Valuation Gap Could Narrow Let . Now He's Its CEO Alex Woodie When Steve McMillan worked in IBM Global Services, he oversaw the outsourcing of nearly every major piece of a large global financial services firm's IT stack with Big Blue products. "Going private could be the right move for it to better manage its turnaround path back to market growth," RBC analysts wrote. Why it's an acquisition target: Zoom saw huge growth during the early days of the pandemic due to the sudden shift to remote work, but since the beginning of this year, its stock has fallen back to pre-2020 levels. To make the world smarter, happier, and richer. Why it's an acquisition target: Smartsheet is operating in a competitive space, as the number of collaborative work-management tools has skyrocketed in recent years. You must click the link in the email to activate your subscription. Total ARR is expected to grow at a mid-to-high-single-digit percentage year-over-year. Public cloud ARR increased by $79 million, or 176% from the prior year period, exceeding the outlook of at least 165% year-over-year (1) First-quarter recurring revenue of $372 million, an increase of 20% from the prior year period. Additional information regarding Teradatas operating results is provided below as well as on Teradatas website at investor.teradata.com. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially, including those relating to: the global economic environment and business conditions in general or on the ability of our suppliers to meet their commitments to us, or the timing of purchases by our current and potential customers; the rapidly changing and intensely competitive nature of the information technology industry and the data analytics business; fluctuations in our operating results; our ability to execute and realize the anticipated benefits of our business transformation program or other restructuring and cost saving initiatives; risks inherent in operating in foreign countries, including foreign currency fluctuations; risks associated with the ongoing and uncertain impact of the COVID-19 pandemic on our business, financial condition and operating results and on our customers and suppliers; risks associated with data privacy, cyberattacks and maintaining secure and effective products for our customers, as well as, internal information technology and control systems; the timely and successful development, production or acquisition, availability and/or market acceptance of new and existing products, product features and services; tax rates; turnover of our workforce and the ability to attract and retain skilled employees; protecting our intellectual property; availability and successful execution of new alliance and acquisition opportunities; subscription arrangements that may be cancelled or fail to be renewed; the impact on our business and financial reporting from changes in accounting rules; and other factors described from time to time in Teradatas filings with the U.S. Securities and Exchange Commission, including its most recent annual report on Form 10-K, and subsequent quarterly reports on Forms 10-Q or current reports on Forms 8-K, as well as Teradatas annual report to stockholders. Our management internally uses supplemental non-GAAP financial measures, such as gross profit, operating income, net income, and EPS, excluding certain items, to understand, manage and evaluate our business and support operating decisions on a regular basis. Free cash flow is a non-GAAP measure. 10087 0 obj <> endobj Only Teradata gives you the flexibility to handle the massive and mixed data workloads of the future, today. We delivered strong results, driving more than 90% growth in public cloud ARR and significantly growing new cloud customers. Teradata is outsourcing field-based support on both sides of the pond to IBM, much to the alarm of some customers who fear a loss of knowledge in keeping its trusted on-prem systems up and running. Teradata Columnar, a transformative advance in database technology that fully integrates columnar and row-based tables, launches. "We could see a PE sponsor taking the opportunity to find more low-hanging fruit in the model and finding further margin-expansion opportunities," RBC analysts wrote. "This is the entire on-premises estate for Teradata," said a senior source close to the company. Download this Press Release. After going public in 2018, the company's growth has stagnated in recent years, and its software would likely grow faster as part of a larger platform, several analysts have said. However, as described below, the Company believes that certain non-GAAP measures such as non-GAAP gross profit, non-GAAP operating income, non-GAAP net income, and non-GAAP earnings per diluted share, or EPS, all of which exclude certain items (as well as free cash flow), and which may be reported on a constant currency basis, are useful for investors. MEDIA CONTACT Teradata also today reaffirmed its outlook for fiscal 2021, which was previously provided in its second-quarter 2021 financial results press release issued on August 5, 2021: To access the replay of todays virtual Investor Day event and presentation materials, visit the investor relations page of Teradatas website at https://investor.teradata.com. What it does: Splunk makes software for IT professionals that sift through and analyze enormous amounts of performance and system data in their networks. This non-GAAP measure is not meant to be considered in isolation to, as a substitute for, or superior to, results determined in accordance with GAAP, and should be read only in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP. It's also facing competition from Microsoft that's likely making it harder to grow as quickly, RBC analysts wrote. To ensure the most secure and best overall experience on our website, we recommend the latest versions of, Perpetual software licenses, hardware and other, Selling, general and administrative expenses, Right of use assets - operating lease, net, Current portion of finance lease liability, Current portion of operating lease liability, Pension and other postemployment plan liabilities. In the private-equity space, various firms have been acquiring both public- and private-software companies.
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