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Actionable news in CSOD: Cornerstone OnDemand, Inc.,

Cornerstone Ondemand Announces Third Quarter 2015 Financial Results

The following excerpt is from the company's SEC filing.

Record quarterly revenue of

$87.3 million

year-over-year

Record third quarter bookings of

$103.7 million

Ended the quarter with over 2,400 clients and over

22.2 million

users

SANTA MONICA, Calif. –

Talent management software

provider

Cornerstone OnDemand, Inc.

(NASDAQ: CSOD) today announced results for its quarter ended

September 30, 2015

Revenue for the

, representing a

increase compared to the same period in

Non-GAAP revenue for the

$87.4 million

Bookings, which the Company defines as revenue plus the change in deferred revenue for the period, were

Bookings for the first

months of

$258.4 million

Deferred revenue at

$206.0 million

increase compared to the balance at

September 30, 2014

“Our third quarter performance again demonstrates our leadership position within learning and talent management, as organizations around the world become increasingly focused on helping their employees realize their potential,” said Adam Miller, the Company’s President and CEO. “Collectively, the size of the market, our competitive positioning, and the strength of our platform, as well as our ability to retain and grow our existing client base, give us confidence in the road ahead as we continue to march towards our goal of achieving $1 billion in revenue.”

The Company’s operating loss for the

$(17.0) million

, yielding an operating loss margin of

, compared to an operating loss of

$(9.9) million

, for the

Non-GAAP operating loss for the

$(1.6) million

, yielding a non-GAAP operating loss margin of

, compared to a non-GAAP operating income of

$0.1 million

, yielding a non-GAAP operating income margin of

The Company’s net loss for the

$(20.1) million

, yielding a net loss margin of

, or a

$(0.37)

net loss per share, compared to a net loss of

$(14.3) million

$(0.27)

net loss per share, for the

Non-GAAP net loss for the

$(2.5) million

, yielding a non-GAAP net loss margin of

$(0.05)

non-GAAP net loss per share, compared to a non-GAAP net loss of

$(2.2) million

$(0.04)

non-GAAP net loss per share, for the

The Company ended the quarter with over 2,400 clients and over

users.

Bookings, non-GAAP revenue, non-GAAP operating (loss) income, non-GAAP operating (loss) income margin, non-GAAP net loss, non-GAAP net loss margin, and non-GAAP net loss per share are non-GAAP financial measures. Please see the discussion in the section titled “Non-GAAP Financial Measures” and the reconciliations at the end of this press release.

Includes contracted clients and active users of our Enterprise and Mid-Market solution, excluding Cornerstone for Salesforce and Cornerstone Growth Edition.

Quarterly Conference Call

Cornerstone OnDemand, Inc. will host a conference call to discuss its third quarter

results at 2:00 p.m. PT (5:00 p.m. ET) today. A live audio webcast of the conference call, together with detailed financial information, can be accessed through the Company’s Investor Relations Web site at

http://investors.cornerstoneondemand.com

. The live call can be accessed by dialing (877) 445-4619 (U.S.) or (484) 653-6763 (outside the U.S.) and referencing passcode: 55007742. A replay of the call will also be available at

http://investors.cornerstoneondemand.com/investors/news-and-...

or via telephone until 11:59 p.m. PT on November 8, 2015 by dialing (855) 859-2056 (U.S.) or (404) 537-3406 (outside the U.S.), and referencing passcode: 55007742.

About Cornerstone OnDemand

Cornerstone OnDemand, Inc. is a global leader in cloud-based learning and talent management software. The company is pioneering solutions to help organizations realize the potential of a modern workforce. From recruitment, onboarding, training and collaboration, to performance management, compensation, succession planning and analytics, Cornerstone is designed to enable a lifetime of learning and development that is fundamental to the growth of employees and organizations.

Based in Santa Monica, California, our solutions are used by over 2,400 clients worldwide, spanning more than

users across

countries and in

languages. For more information about Cornerstone OnDemand, Inc., visit

www.csod.com

Note: Cornerstone

and Cornerstone OnDemand

are registered trademarks of Cornerstone OnDemand, Inc.

Forward-looking Statements

This press release and the quarterly conference call referenced above contain forward-looking statements, including statements regarding Cornerstone OnDemand’s future financial performance, including the performance of our core business and emerging businesses, market growth, the demand for and benefits from the use of Cornerstone OnDemand’s current and future solutions, and general business conditions, as well as Cornerstone OnDemand’s expectations regarding gross margins, revenue, non-GAAP net income or loss, non-GAAP loss per share, net loss margin, non-GAAP cash flows provided by operating activities for the fourth quarter and full year of 2015 and the demand for our products relative to our competitors’ products. Any forward-looking statements contained in this press release or the quarterly conference call are based upon Cornerstone OnDemand’s historical performance and its current plans, estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent Cornerstone OnDemand’s expectations as of the date of this press release. Subsequent events may cause these expectations to change, and Cornerstone OnDemand disclaims any obligation to update the forward-looking statements in the future. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from Cornerstone OnDemand’s current expectations. Important factors that could cause actual results to differ materially from those anticipated in our forward-looking statements include, but are not limited to, our ability to attract new clients; the extent to which clients renew their subscriptions for our solution; the timing of when consulting services are delivered to our new and existing clients by our services organization and implementation subcontractors;...


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