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Apr 30, 2024

HashiCorp Q1 2025 Earnings Report

HashiCorp reported solid performance in Q1 2025, marked by revenue growth and progress in expanding the HashiCorp Cloud Platform.

Key Takeaways

HashiCorp announced its Q1 2025 financial results, with revenue reaching $160.6 million, a 16% increase year-over-year. The company reported a GAAP net loss of $51.1 million, while non-GAAP net income was $11.2 million. HashiCorp is in a definitive agreement to be acquired by IBM for $35.00 per share in cash.

Revenue totaled $160.6 million, up 16% year-over-year.

Trailing four quarter average Net Dollar Retention Rate was 113%.

GAAP RPO totaled $748.5 million, up 18% year-over-year.

Non-GAAP RPO totaled $770.9 million, up 17% year-over-year.

Total Revenue
$161M
Previous year: $138M
+16.4%
EPS
$0.05
Previous year: -$0.07
-171.4%
Net Dollar Retention Rate
113%
Previous year: 127%
-11.0%
Customers with >$100k ARR
918
Previous year: 830
+10.6%
Total Customers
4.56K
Previous year: 4.39K
+3.8%
Gross Profit
$130M
Previous year: $111M
+17.1%
Cash and Equivalents
$595M
Previous year: $967M
-38.5%
Free Cash Flow
$25.4M
Previous year: $3.48M
+629.1%
Total Assets
$1.65B
Previous year: $1.58B
+4.1%

HashiCorp

HashiCorp

HashiCorp Revenue by Segment

Forward Guidance

In light of the proposed transaction with IBM, HashiCorp will not be holding a conference call to discuss financial results or providing financial guidance in conjunction with its first quarter 2025 earnings release.

Revenue & Expenses

Visualization of income flow from segment revenue to net income