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Cornerstone OnDemand Announces
First Quarter 2016 Financial Results

  • Record quarterly revenue of $99.3 million, up 34% year-over-year

  • Record first quarter bookings of $83.7 million, up 32% year-over-year1

  • Ended the quarter with 2,670 clients and approximately 25 million users2

SANTA MONICA, Calif. — May 4, 2016 — Talent management software provider Cornerstone OnDemand, Inc. (NASDAQ: CSOD) today announced results for its first quarter ended March 31, 2016.

Revenue for the first quarter of 2016 was $99.3 million, representing a 34% increase compared to the same period in 2015. Non-GAAP revenue for the first quarter of 2016 was $99.4 million, representing a 34% increase compared to the same period in 2015.1

Bookings, which the Company defines as revenue plus the change in deferred revenue for the period, were $83.7 million for the first quarter of 2016, representing a 32% increase compared to the same period in 2015.1 Deferred revenue at March 31, 2016 was $236.5 million, representing a 31% increase compared to the balance at March 31, 2015.

“With acceleration in top-line growth as well as solid early progress towards our profitability goals, the first quarter represented a very strong start to 2016,” said Adam Miller, the Company’s President and CEO. “We believe our continued innovation, our focus on operational excellence, and the demonstrable demand for our solutions by the world’s largest organizations will continue to fuel our growth into the future.”

The Company’s operating loss for the first quarter of 2016 was $(16.7) million, yielding an operating loss margin of (17)%, compared to an operating loss of $(17.7) million, yielding an operating loss margin of (24)%, for the first quarter of 2015.

Non-GAAP operating loss for the first quarter of 2016 was $(0.8) million, yielding a non-GAAP operating loss margin of (1)%, compared to a non-GAAP operating loss of $(5.8) million, yielding a non-GAAP operating loss margin of (8)%, for the first quarter of 2015.1

The Company’s net loss for the first quarter of 2016 was $(18.2) million, yielding a net loss margin of (18)%, or a $(0.33) net loss per share, compared to a net loss of $(23.3) million, yielding a net loss margin of (31)%, or a $(0.43) net loss per share, for the first quarter of 2015.

Non-GAAP net loss for the first quarter of 2016 was $(40) thousand, yielding a non-GAAP net loss margin of 0%, or a $0.00 non-GAAP net loss per share, compared to a non-GAAP net loss of $(9.3) million, yielding a non-GAAP net loss margin of (12)%, or a $(0.17) non-GAAP net loss per share, for the first quarter of 2015.1

The Company ended the quarter with 2,670 clients and approximately 25.0 million users.2

1

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.

2

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 first quarter 2016 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: 85879203. A replay of the call will also be available at http://investors.cornerstoneondemand.com/investors/news-and-events/events/default.aspx or via telephone until 11:59 p.m. PT on May 7, 2016 by dialing (855) 859-2056 (U.S.) or (404) 537-3406 (outside the U.S.), and referencing passcode: 85879203.

Informationen über Cornerstone OnDemand

Cornerstone OnDemand ist einer der weltweit führenden Anbieter Cloud-basierter Software für Learning und Human Capital Management. Das Unternehmen ist ein Pionier in der Entwicklung von Lösungen, die Unternehmen dabei unterstützen, die Potenziale ihrer Mitarbeiter in der neuen Arbeitswelt zu realisieren. Von Recruiting, Onboarding, Training und Kollaboration bis hin zu Performance Management, Vergütung, Nachfolgeplanung und Analytik – Cornerstone setzt mit seinen Lösungen den Rahmen für die kontinuierliche Weiterentwicklung der Mitarbeiter und schafft damit die Voraussetzung für Unternehmenswachstum.

Die Lösungen des in Santa Monica, Kalifornien, ansässigen Unternehmens sind bei mehr als 3.250 Kunden weltweit im Einsatz und werden von 36 Millionen Anwendern in 192 Ländern und in 43 Sprachen genutzt. Mehr über Cornerstone erfahren Sie auf www.cornerstoneondemand.de sowie auf Twitter, Facebook und in unserem Blog.

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