For the first quarter of fiscal 2021, Teradata currently expects to exceed its guidance provided on February 4, 2021 for GAAP earnings per diluted share, Non-GAAP earnings per diluted share, and public . 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. PDF Teradata Reports Fourth-Quarter and Full-Year 2021 Financial Results What it does: N-Able makes software for IT management, including monitoring, management, security, and ticketing tools. 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. They said it could be acquired by a private-equity firm or another cloud vendor. Teradata's systems are highly engineered and while replacing a power supply or a disk drive should be a simple process, if something more serious fails "it can be catastrophic," our source said. The impact of currency is determined by calculating the prior period results using the current-year monthly average currency rates. We delivered strong results, driving more than 90% growth in public cloud ARR and significantly growing new cloud customers. Total revenue is expected to be flat-to-low-single-digit percentage growth year-over-year. "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. Teradata has been caught between conflicting demands of investors impatient to see it execute a cloud-first strategy, and customers uncertain about how highly optimised concurrent queries will work in the cloud. Teradata has acquired 16 companies. "A larger strategic vendor could deploy more capital than Couchbase could as an independent vendor to target a large and growing opportunity similar to MDB," RBC analysts wrote. Teradata (NYSE: TDC) today announced its fourth-quarter and full-year 2021 financial results. 2023 Phase one of GMH, in Gulf of Guinea's Punta Europa, started delivering gas in February 2021. %%EOF "It would not surprise us to see interest from private equity, especially after the significant slowdown in growth," RBC analysts wrote. About Teradata Observers fear a haemorrhage of the knowledge required to keep the unique Teradata systems up and running. The company has made a few small acquisitions of it own as it looks to expand beyond video conferencing into a video-communications platform. What it does: New Relic makes cloud-based software to help websites and applications track how their servers are performing and make sure they're running without interruptions. 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. 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. Company Mergers, Acquisitions, & JVs News | Rigzone This was offset by $1 million of tax expense related to withholding taxes associated with the same intra-entity transfer recorded in the second quarter of 2020. The space is "crowded," RBC analysts wrote in a note, and "over time, could benefit from consolidation with adjacent collaboration solutions.". Teradata reports its results in accordance with GAAP. Cloud-native warehouses get around the concurrency problem by spinning up new warehouse instances, but that can leave users dealing with the cost of unplanned demand on cloud services. Why it's an acquisition target: The space Sumo Logic operates in is competitive, so despite the company being in a good position to accelerate growth, it could benefit from joining forces with a larger player, RBC analysts wrote. Teradata filed a carry back of its 2020 NOL to claim a refund for taxes it paid in 2015, which created a one-time income tax benefit for GAAP reporting purposes for the difference between the 2015 federal statutory tax rate of 35% and the current federal statutory rate of 21%. Why it's an acquisition target: The industry has long thought of Box as an acquisition target. 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. hb```&V[ eah```t``s#TN'lF[z8Y|0m Additionally, Coupa's stock has fallen in recent months, making it cheaper for any potential acquirer. Teradata is the connected multi-cloud data platform for enterprise analytics company. * 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. 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. The Motley Fool recommends Teradata. They said Rapid7 and Varonis Systems could potentially acquire Qualys. Teradata (NYSE: TDC) highlighted the Company's successful cloud-first transformation and ongoing strategic initiatives to deliver sustainable growth and value creation at its Investor Day held virtually today. Big Blue itself responded to us by saying we needed to ask Teradata for comment. Total ARR is expected to grow at a mid-to-high-single-digit percentage year-over-year. In 2018, TDC removed $66 million (42% of non-GAAP net income) in stock-based compensation. As a result of these adjustments, the Companys non-GAAP effective tax rate for the three months ended December 31, 2021 was 21% and December 31, 2020 was 26.3%. "SMAR could replace MSFT's legacy solution, Microsoft Project, though we acknowledge MSFT has been able to organically build Teams and could look to continue to build rather than buy in this space," the analysts wrote. The Teradata logo is a trademark, and Teradata is a registered trademark of Teradata Corporation and/or its affiliates in the U.S. and worldwide. View source version on businesswire.com: This is an increase from at least 70% growth year-over-year, which was previously communicated at Teradatas Investor Day in September 2021. And its pro forma number was roughly twice its predicted pro forma profit of $0.25 to $0.29 for the quarter. Amortization of acquisition-related - intangible assets 0.01 0.01 Acquisition, integration, reorganization-related, and other costs "As large IT vendors need a view into both public and on-premise spending, Nutanix could help solve that given its large scale, salesforce, and market opportunity," RBC analysts wrote. Cloud ARR represents public cloud ARR, which is defined as the annual value at a point in time of all contracts related to public cloud implementations of Teradata Vantage and does not include ARR related to private or managed cloud implementations. However, they think the overall market for IT-service management will consolidate over time, and N-Able is one company that a private-equity firm could acquire as part of that trend. In addition, the Company recorded a $2 million discrete tax benefit in the third quarter of 2021 for GAAP purposes resulting from a provision to return true up to the Companys net operating loss upon completion of its 2020 US federal income tax return and its NOL carryback claim afforded by the CARES Act of 2020. 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. Why it's an acquisition target: Companies like Yelp, Ticketmaster, Stripe, and Github use Fastly's technology. That would make it an interesting candidate for a private-equity firm who wants to invest in cloud-data analytics, they wrote. That likely makes the company a target for private-equity firms. Read Full Review 5.0 Feb 2, 2023 Review Source: Product: Teradata Vantage Perspective by experience. Telephone: 858-485-2088, Teradata Reports Fourth-Quarter and Full-Year 2021 Financial Results, https://www.businesswire.com/news/home/20220204005518/en/, 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. 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. And just last month, Adobe executives announced the company is acquiring the beloved design startup Figma for $20 billion. Including the income tax effect assists investors in understanding the tax provision associated with those adjustments and the effective tax rate related to the underlying business and performance of the Companys ongoing operations. 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. BP, ADNOC Offer to Buy Half of Israel's NewMed Energy. Christopher T. Lee 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. Large companies look to score tools at a discount while private-equity firms also eye takeovers. Why it's an acquisition target: Couchbase went public in 2021 and has since been pivoting to offer a fully cloud-hosted database. What it does: Teradata makes software for cloud databases and analytics. 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. 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. Why it's an acquisition target: Duck Creek Technologies has seen slowing growth in recent quarters, likely due to increased competition from smaller companies, RBC analysts said. Teradata Reports First Quarter 2021 Financial Results Christopher T. Lee "This could make even more sense if the market consolidates up to the platform level," the analysts wrote. Adjustments to reconcile net income to net cash provided by operating activities: Effect of exchange rate changes on cash and cash equivalents, Public cloud ARR of $202 million, an increase of 91% as reported from the prior year period, Fourth quarter recurring revenue of $364 million, an increase of 5% as reported from the prior year period, Recurring revenue was 77% of total revenue in the fourth quarter, up from 70% the prior year period, Fourth quarter GAAP earnings per diluted share of $0.29, above the previously provided outlook range of $(0.05) to $(0.01), Fourth quarter Non-GAAP earnings per diluted share of $0.57, above the previously provided outlook range of $0.25 to $0.29, Fourth quarter cash from operations of $95 million and free cash flow of $85 million, Intends to enter into a $250 million accelerated share repurchase program in the first quarter, Public cloud ARR increased to $202 million from $106 million, an increase of 91% as reported and 92% in constant currency, ARR increased to $1.492 billion from $1.425 billion, an increase of 5% as reported and 7% in constant currency, Recurring revenue was $364 million versus $346 million, an increase of 5% as reported and 6% in constant currency, Total revenue was $475 million versus $491 million, a decrease of 3% as reported and 2% in constant currency, Non-GAAP gross margin was 63.2% versus 59.3%, GAAP operating income was $50 million versus $13 million, Non-GAAP operating income was $90 million versus $67 million, GAAP diluted EPS was $0.29 versus $0.04 per share, Non-GAAP diluted EPS was $0.57 versus $0.38, Cash flow from operations was $95 million compared to $56 million, Free cash flow was $85 million compared to $45 million, Recurring revenue was $1.464 billion from $1.309 billion, an increase of 12% as reported and 11% in constant currency, Total revenue was $1.917 billion from $1.836 billion, an increase of 4% as reported and 3% in constant currency, Non-GAAP gross margin was 63.4% versus 58.4%, GAAP operating income was $231 million versus $16 million, Non-GAAP operating income was $393 million versus $230 million, Non-GAAP diluted EPS was $2.43 versus $1.31, Cash flow from operations was $463 million versus $267 million, Free cash flow was $432 million versus $216 million.
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