Cash provided by operating activities (GAAP). In particular, free cash flow indicates the amount of cash generated after capital expenditures for, among other things, investment in the Companys existing businesses, strategic acquisitions, strengthening the Companys balance sheet, repurchase of the Companys stock and repayment of the Companys debt obligations, if any. 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. What it does: Couchbase is an open-source cloud-based noSQL database, which means it can handle data that's not in a traditional SQL format. Total revenue is expected to be flat-to-low-single-digit percentage growth year-over-year. ARR does not include managed services and third-party software. These forward-looking statements are based upon current expectations and assumptions and often can be identified by words such as expect, strive, looking ahead, outlook, guidance, forecast, anticipate, continue, plan, estimate, believe, will, would, likely, intend, potential, or similar expressions. That gives the company an interesting view on how quickly companies are transitioning to the cloud, which would make it a valuable acquisition for a large IT company, RBC analysts said. The Companys full-year 2020 GAAP marginal effective tax rate included $3 million of tax expense related to tax contingencies pursuant to FIN 48. "This could make even more sense if the market consolidates up to the platform level," the analysts wrote. 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. Teradata acquires Aprimo, a global leader in cloud-based integrated marketing software. The Company believes such non-GAAP financial measures (1) provide useful information to investors regarding the underlying business trends and performance of the Companys ongoing operations, (2) are useful for period-over-period comparisons of such operations and results, that may be more easily compared to peer companies and allow investors a view of the Companys operating results excluding stock-based compensation expense and special items, (3) provide useful information to management and investors regarding present and future business trends, and (4) provide consistency and comparability with past reports and projections of future results. In 2018, TDC removed $66 million (42% of non-GAAP net income) in stock-based compensation. Why it's an acquisition target: Nutanix operates in the hybrid-cloud space and is making its own transition from a licensing model to a software-subscription model. ARR does not include managed services and third-party software. 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. GAAP profits for the quarter were only $0.29 per share -- not $0.57. As described below, the Company believes that free cash flow is a useful non-GAAP measure for investors. Only Teradata gives you the flexibility to handle the massive and mixed data workloads of the future, today. What it does: Duck Creek Technologies makes cloud software for property-and-casualty-insurance companies. Teradata also today reaffirmed its outlook for fiscal 2021, which was previously provided in its second-quarter 2021 financial results press release issued on August 5, 2021: To access the replay of todays virtual Investor Day event and presentation materials, visit the investor relations page of Teradatas website at https://investor.teradata.com. What happened was that foreign hackers, who some top US officials believe are from Russia, were able to use the hack to spy on private companies like the elite cybersecurity firm FireEye and the upper echelons of the US government, including the Department of Homeland Security and the Treasury Department. year 2021 financial results. Access to the conference call, as well as a replay of the conference call, is available on Teradatas website at investor.teradata.com. In the note, RBC analysts added that private-equity deals are more likely to be all-cash, given that debt is becoming harder to raise. "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. hbbd``b` @d@nig7 A,) SG $cD7,#&0 @L X In particular, free cash flow indicates the amount of cash generated after capital expenditures for, among other things, investment in the Companys existing businesses, strategic acquisitions, strengthening the Companys balance sheet, repurchase of the Companys stock and repayment of the Companys debt obligations, if any. 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. "If you don't give them something that's at least as good with a low disruption to make the transition, then just forget it," our source said. Why it's an acquisition target: Qualys has a portfolio of software tools for cloud security, which makes it an interesting target for any company looking to get into that space, RBC analysts said. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Join SI Premium - FREE. 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. 17095 Via Del Campo We look forward to delivering ongoing innovation for our customers, maintaining our ethos of strong corporate citizenship, and driving profitable growth and long-term value creation for our shareholders., Teradata is raising its 2022 outlook for public cloud ARR and EPS, as well as increasing the return of capital to shareholders, said Claire Bramley, Chief Financial Officer, Teradata. Each of our non-GAAP measures do not have a uniform definition under GAAP and therefore, Teradatas definition may differ from other companies definitions of these measures. GAAP diluted EPS is expected to be in the range of $0.35 to $0.39. Free cash flow does not have a uniform definition under GAAP and, therefore, Teradatas definition may differ from other companies definitions of this measure. 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%. Speaking to The Register earlier this year, Teradata CEO Steve McMillan argued the company's heritage in on-prem systems offers users the ability to optimise workloads in the cloud for cost. , The Register Biting the hand that feeds IT, Copyright. About Teradata Multiple sources told us Teradata's customer service field support team, which has shrunk in recent years, were mostly given their marching orders. Teradata now has a total of approximately $1.3 billion authorized for share repurchases under this program. The Companys GAAP effective tax rate for the twelve months ended December 31, 2020, includes $156 million of discrete tax benefit related to an intra-entity asset transfer of certain of its intellectual property to one of its Irish subsidiaries, which occurred on January 1, 2020. I am proud of our team's steadfast focus on execution and operational excellence that enabled us to meet or beat every element of our That's what sets it apart from more traditional database companies like Oracle. Teradata Columnar, a transformative advance in database technology that fully integrates columnar and row-based tables, launches. 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. They said Rapid7 and Varonis Systems could potentially acquire Qualys. Zendesk, which offers customer-service software, was also taken private for $10.2 billion by an investor group, which Hellman & Friedman and Permira led. 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. christopher.lee@teradata.com Learn More. Each of our non-GAAP measures do not have a uniform definition under GAAP and therefore, Teradatas definition may differ from other companies definitions of these measures. Teradata defines free cash flow as cash provided by / used in operating activities, less capital expenditures for property and equipment, and additions to capitalized software. "We could see GOOGL as a potential acquirer of FSLY in order to bring edge cloud together with GOOGL's GCP central cloud," they wrote. All rights reserved 19982023, Funny way to describe a company that makes toilet cleaner, ChatGPT is just the beginning: CISOs need to prepare for the next wave of AI-powered attacks, Reworked use of object storage changes footing with competitors but will need to convince devs, Calls time on interactions and services with customers, including state-owned bank Sberbank, Perpetual software and hardware licenses dive in Q4, consultancy withers on vine, State-owned Sberbank's software contracts under scrutiny, Teradata also sees wings clipped in ongoing battle with German ERP giant, On-prem systems hold advantages in terms of known costs, say insiders, Amazon Web Services (AWS) Business Transformation, Can Teradata avoid being grounded by on-prem legacy? 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. I am proud of our teams steadfast focus on execution and operational excellence that enabled us to meet or beat every element of our annual outlook, said Steve McMillan, President and CEO, Teradata. At the Investor Day event, Teradatas new leadership team outlined its three foundational cornerstones for long-term growth and value creation: Continued Strong Financial Performance Through Fiscal 2025 and Beyond. Director (Former Employee) - San Diego, CA - December 22, 2021. It has the power of cloud storage along with good querying capacity to retrieve data for customized analytics. We continue to demonstrate our commitment to deliver shareholder value through disciplined capital allocation, including our intention to enter into a $250 million accelerated share repurchase program in the first quarter, enabled by our strong balance sheet and projections of cash flow generation., Fourth-Quarter 2021 Financial Highlights Compared to Fourth-Quarter 2020, Full-Year 2021 Financial Highlights Compared to Full Year 2020. We delivered strong results, driving more than 90% growth in public cloud ARR and significantly growing new cloud customers. Teradata is outsourcing field-based support on both sides of the pond to IBM, much to the alarm of some customers who fear a loss of knowledge in keeping its trusted on-prem systems up and running. Our enterprise analytics solve business challenges from start to scale. Christopher T. Lee Free cash flow does not have a uniform definition under GAAP and, therefore, Teradatas definition may differ from other companies definitions of this measure. Fourth-Quarter 2021 Financial Highlights Compared to Fourth-Quarter 2020. The strength of our performance in 2021 is matched by our conviction to continue accelerating in 2022. 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: Dropbox makes cloud-based content-management and file-sharing software. The acquisition is a milestone in the execution of the Teradata world-class applications business. hb```&V[ eah```t``s#TN'lF[z8Y|0m The company has spent over $ 808M for the acquisitions. While the company is doing well financially, it's still in recovery mode from the incident. "And could even see a traditional networking company like CSCO taking a look at FSLY.". 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. Given that, it would make sense for a larger company to look into acquiring Zoom. But even there, the GAAP number was well ahead of Teradata's own forecast for a small quarterly loss (the company had promised a loss of $0.01 to $0.05 per share). The impact of currency is determined by calculating the prior period results using the current-year monthly average currency rates. "It's like you've got a team that looks after space rockets and a team that looks after Formula One cars. Heading into a new fiscal year, Teradata says revenue will again grow in the "flat-to-low-single-digit percentage" range in 2022, with public cloud revenue growing 80% and recurring revenue growing in the "low-to-mid-single" digits. "Anything sub-$10 billion is more feasible for strategics in this environment," he told Insider. 858-485-3029 office 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 Motley Fool has a disclosure policy. Teradata (NYSE: TDC) highlighted the Companys successful cloud-first transformation and ongoing strategic initiatives to deliver sustainable growth and value creation at its Investor Day held virtually today. Fri 9 Jul 2021 // 10:45 UTC Teradata is outsourcing field-based support on both sides of the pond to IBM, much to the alarm of some customers who fear a loss of knowledge in keeping its trusted on-prem systems up and running. Cash provided by operating activities (GAAP). Overall, Teradata expects public cloud ARR to increase by at least 165% year-over-year in Q1 2021 and expects to at least double ARR year-over-year for 2021. I understand that I may unsubscribe at any time by following the link at the bottom of any such email I receive to visit the Teradata Investor site and completing the Unsubscribe From Email Alerts form. Teradata (NYSE: TDC) today announced its fourth-quarter and full-year 2021 financial results. Learn more at Teradata.com. 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 one-time tax benefit for this intra-entity asset transfer of $157 million was recorded as a deferred tax asset for GAAP reporting purposes in the first quarter of 2020 but was excluded from Non-GAAP results. MEDIA CONTACT "We wonder if Dropbox would be better off as part of a larger technology platform, given we believe content management could be more valuable once integrated and cross-sold with other collaboration solutions," RBC analysts wrote. All of which positions us to achieve over $1 billion in Cloud ARR(1) and approximately $550 million in free cash flow(2) in fiscal 2025 and deliver significant long-term value to our shareholders.. View source version on businesswire.com: We delivered strong results, driving more than 90% growth in public cloud ARR and significantly growing new cloud customers. About Teradata Teradata reports its results in accordance with GAAP. Note to Investors More software M&A is in the forecast as valuations and stock prices continue to drop and private companies aren't the only ones likely to get gobbled up. The impact of currency is determined by calculating the prior period results using the current-year monthly average currency rates. Also, when calculated according to generally accepted accounting principles (GAAP), Teradata's profits weren't quite as strong as the headline pro forma profit number. 10107 0 obj <>/Filter/FlateDecode/ID[]/Index[10087 45]/Info 10086 0 R/Length 96/Prev 250981/Root 10088 0 R/Size 10132/Type/XRef/W[1 2 1]>>stream Teradata Vantage is a legacy system used by many large organizations and corporates for storing data and providing it to end users. For the twelve months ended December 31, the Companys non-GAAP effective tax rate was 22.4% for 2021 and 23.2% for 2020. GAAP diluted EPS is expected to be in the range of $0.75 to $0.85. Teradata ( TDC 0.05%) stock surged in morning trading today, up 24.2% as of 10:50 a.m. ARR does not include managed services and third-party software. Late last week, IBM confirmed the country managers who will run Kyndryl when it launches later this year. Jennifer Donahue The Motley Fool recommends Teradata. "We think the company has made good progress on its cloud transition, and as such, it could represent an interesting acquisition candidate for a large vendor or PE shop that wants to get deeper into cloud analytics," RBC analysts wrote. Invest better with The Motley Fool. Teradata Market Cap: $3.2 billion What it does: Teradata makes software for cloud databases and analytics. CONDENSED CONSOLIDATED STATEMENTS OF INCOME, (in millions, except per share amounts - unaudited), CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS, CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS. Granted, one way of looking at the numbers is that Teradata missed on sales, pulling in about 1% less revenue than predicted. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially, including those relating to: the global economic environment and business conditions in general or on the ability of our suppliers to meet their commitments to us, or the timing of purchases by our current and potential customers; the rapidly changing and intensely competitive nature of the information technology industry and the data analytics business; fluctuations in our operating results; our ability to execute and realize the anticipated benefits of our business transformation program or other restructuring and cost saving initiatives; risks inherent in operating in foreign countries, including foreign currency fluctuations; risks associated with the ongoing and uncertain impact of the COVID-19 pandemic on our business, financial condition and operating results and on our customers and suppliers; risks associated with data privacy, cyberattacks and maintaining secure and effective products for our customers, as well as, internal information technology and control systems; the timely and successful development, production or acquisition, availability and/or market acceptance of new and existing products, product features and services; tax rates; turnover of our workforce and the ability to attract and retain skilled employees; protecting our intellectual property; availability and successful execution of new alliance and acquisition opportunities; subscription arrangements that may be cancelled or fail to be renewed; the impact on our business and financial reporting from changes in accounting rules; and other factors described from time to time in Teradatas filings with the U.S. Securities and Exchange Commission, including its most recent annual report on Form 10-K, and subsequent quarterly reports on Forms 10-Q or current reports on Forms 8-K, as well as Teradatas annual report to stockholders. Who could acquire it: Another cloud or software company. Jana Partners is also the activist firm that pushed Zendesk to be acquired by a group of private equity firms led by Hellman & Friedman and Permira. Acquisition, integration, reorganization related, and other costs, Amortization of acquisition-related intangible assets. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially, including those relating to: the global economic environment and business conditions in general or on the ability of our suppliers to meet their commitments to us, or the timing of purchases by our current and potential customers; the rapidly changing and intensely competitive nature of the information technology industry and the data analytics business; fluctuations in our operating results; our ability to execute and realize the anticipated benefits of our business transformation program or other restructuring and cost saving initiatives; risks inherent in operating in foreign countries, including foreign currency fluctuations; risks associated with the ongoing and uncertain impact of the COVID-19 pandemic on our business, financial condition and operating results and on our customers and suppliers; risks associated with data privacy, cyberattacks and maintaining secure and effective products for our customers, as well as, internal information technology and control systems; the timely and successful development, production or acquisition, availability and/or market acceptance of new and existing products, product features and services; tax rates; turnover of our workforce and the ability to attract and retain skilled employees; protecting our intellectual property; availability and successful execution of new alliance and acquisition opportunities; subscription arrangements that may be cancelled or fail to be renewed; the impact on our business and financial reporting from changes in accounting rules; and other factors described from time to time in Teradatas filings with the U.S. Securities and Exchange Commission, including its most recent annual report on Form 10-K, and subsequent quarterly reports on Forms 10-Q or current reports on Forms 8-K, as well as Teradatas annual report to stockholders.

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