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Talend Reports Second Quarter 2016 Financial Results

REDWOOD CITY, Calif.--(BUSINESS WIRE)--Talend (NASDAQ: TLND), a global leader in cloud and big data integration software, today released financial results for the second quarter ended June 30, 2016.

“We achieved record revenue for the second quarter of 2016 of $25.4 million, accelerating to 38% year-over-year growth from 34% in the first quarter of 2016”

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“We achieved record revenue for the second quarter of 2016 of $25.4 million, accelerating to 38% year-over-year growth from 34% in the first quarter of 2016,” said Mike Tuchen, Talend CEO. “Our strong results were driven by our cloud and big data solutions, with combined revenues continuing to grow over 100% year-over-year. Following our successfully completed IPO in July, we are pleased to have recently been named as a leader in the Gartner Magic Quadrant for Data Integration Tools. With our flexible product architecture, we believe Talend is well positioned to capitalize on the growing trend of Hadoop, Spark, and cloud adoption as organizations look to leverage their data to optimize every aspect of their business.”

Second Quarter 2016 Financial Highlights

  • Revenue: Total revenue was $25.4 million for the second quarter of 2016, an increase of 38% compared to the second quarter of 2015. Subscription revenue was $21.2 million for the second quarter of 2016, an increase of 40% compared to the second quarter of 2015, and accounted for 84% of total revenue for the period. Professional services revenue was $4.2 million for the second quarter of 2016, an increase of 30% compared to the second quarter of 2015, and accounted for 16% of total revenue for the period.
  • Operating Loss: IFRS operating loss was $7.5 million for the second quarter of 2016, compared to an operating loss of $4.0 million for the second quarter of 2015. Non-IFRS operating loss was $6.8 million for the second quarter of 2016 compared to non-IFRS operating loss of $3.3 million for the second quarter of 2015.
  • Net Loss: IFRS net loss was $8.1 million for the second quarter of 2016, compared to IFRS net loss of $4.3 million in the second quarter of 2015. Non-IFRS net loss was $7.3 million for the second quarter of 2016, compared to non-IFRS net loss of $3.6 million for the second quarter of 2015. IFRS net loss per diluted share was $2.02 for the second quarter of 2016, compared with $1.15 per diluted share for the second quarter of 2015. Non-IFRS net loss per diluted share was $1.84 for the second quarter of 2016, compared with $0.97 per diluted share for the second quarter of 2015.
  • Free Cash Flow: Free cash flow was ($2.1) million, compared to free cash flow of ($4.3) million for the second quarter 2015, an improvement from (23%) to (8%) of revenue for the period. For the first half of 2016 we were approximately free cash flow breakeven.

A reconciliation of IFRS to non-IFRS financial measures has been provided in the financial tables included in this press release below. An explanation of these measures is also included below, under the heading Non-IFRS Financial Measures.

Recent Business Highlights

  • Completed initial public offering and began trading on the NASDAQ on July 29, 2016. Net proceeds from the IPO were approximately $91.6 million, after underwriting discounts and other offering costs.
  • Elevated from Visionary to Leader in the 2016 Gartner Magic Quadrant for Data Integration Tools based on completeness of vision and ability to execute.
  • Achieved status as an Advanced Technology Partner in the Amazon Web Services (AWS) Partner Network (APN). The elevated Partner status recognizes Talend’s customer successes and certification by AWS in the areas of Big Data, Data Warehousing, and Cloud Analytics.
  • Introduced the commercial version of Talend Data Preparation, a governed self-service solution for accelerating data usage and collaboration.

Financial Outlook
Talend’s outlook assumes similar business conditions and foreign exchange rates as of July 31, 2016.

Third quarter of 2016:

  • Total revenue is expected to be in the range of $26.0 million to $27.0 million.
  • IFRS operating loss is expected to be in the range of $8.0 million to $7.0 million.
  • IFRS net loss is expected to be in the range of $8.7 million to $7.7 million and non-IFRS net loss is expected to be in the range of $7.5 million to $6.5 million.
  • IFRS net loss per diluted share is expected to be in the range of $0.31 to $0.28 and non-IFRS net loss per diluted share is expected to be in the range of $0.27 to $0.24.
  • Fully diluted weighted average share count of 27.5 million shares.

Full year 2016:

  • Total revenue is expected to be in the range of $103.0 million to $105.0 million.
  • IFRS operating loss is expected to be in the range of $29.0 million to $27.0 million.
  • IFRS net loss is expected to be in the range of $29.7 million to $27.7 million and non-IFRS net loss is expected to be in the range of $26.1 million to $24.1 million.
  • IFRS net loss per diluted share is expected to be in the range of $1.15 to $1.07 and non-IFRS net loss per diluted share is expected to be in the range of $1.01 to $0.93.
  • Fully diluted weighted average share count of 25.9 million shares.

These statements are forward-looking and actual results may differ materially. Refer to the Forward-Looking Statements below for information on the factors that could cause our actual results to differ materially. With respect to Talend's expectations regarding financial outlook, a reconciliation of IFRS to non-IFRS net loss has been provided in the financial statement tables included in this press release below. An explanation of these measures is also included below under the heading Non-IFRS Financial Measures.

Conference Call Information
Talend will host a conference call and live webcast for analysts and investors at 5:00 p.m. Eastern time on August 25, 2016. Parties in the United States and Canada can access the call by dialing +1 (888)-280-4443, using conference code 4680836. International parties can access the call by dialing +1 (719)-325-2289, using conference code 4680836.

The webcast will be accessible on Talend's investor relations website at http://investor.talend.com for a period of one year. A telephonic replay of the conference call will be available through Thursday, September 1, 2016. To access the...


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