HashiCorp Q2 2024 Earnings Report
Key Takeaways
HashiCorp announced its Q2 Fiscal Year 2024 financial results, demonstrating solid execution with a 26% year-over-year revenue increase. The company is focused on profitability and driving efficiency while continuing to invest in long-term opportunities.
Total revenue was $143.2 million, a 26% increase year-over-year.
GAAP gross profit was $113.9 million, with an 80% gross margin.
GAAP net loss was $66.3 million, compared to $74.8 million in the same period last year.
Trailing four quarter average Net Dollar Retention Rate was 124%.
HashiCorp
HashiCorp
HashiCorp Revenue by Segment
Forward Guidance
For the third quarter of fiscal 2024, HashiCorp expects total revenue of $142 - $144 million, a non-GAAP operating loss of $26 - $23 million, and a non-GAAP EPS loss of $0.05 - $0.03. For the full fiscal year 2024, the company expects total revenue of $571 - $575 million, a non-GAAP operating loss of $108 - $105 million, and a non-GAAP EPS loss of $0.23 - $0.21.
Positive Outlook
- Total revenue of $142 - $144 million for Q3 2024.
- Non-GAAP operating loss of $26 - $23 million for Q3 2024.
- Non-GAAP EPS loss of $0.05 - $0.03 for Q3 2024.
- Total revenue of $571 - $575 million for fiscal year 2024.
- Non-GAAP operating loss of $108 - $105 million for fiscal year 2024.
Challenges Ahead
- Non-GAAP operating loss expected for Q3 2024.
- Non-GAAP EPS loss expected for Q3 2024.
- Non-GAAP operating loss expected for fiscal year 2024.
- Non-GAAP EPS loss expected for fiscal year 2024.
- Non-GAAP Free Cash Flow Margin of approximately (5)% for fiscal year 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income