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. hX[o+|LP}"/MbNi 10087 0 obj <> endobj This is an increase from the range of $1.60 to $1.70, which was previously communicated at Teradatas Investor Day in September 2021. Public cloud ARR is expected to increase by approximately 80% year-over-year. To ensure the most secure and best overall experience on our website, we recommend the latest versions of, 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. Big Blue itself responded to us by saying we needed to ask Teradata for comment. Teradata reports its results in accordance with 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. analysts and experts expect to see more consolidation, Adobe executives announced the company is acquiring the beloved design startup Figma, its stock has fallen back to pre-2020 levels, were rumors it was pursuing a sale amid the pressure, investment from the private-equity firm KKR. 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. While its growth has made it less of an acquisition target, RBC analysts wrote that any "misstep" would make it an attractive candidate for a private-equity firm to acquire. Additionally, Coupa's stock has fallen in recent months, making it cheaper for any potential acquirer. The business will be based around six units: cloud, applications, data and AI; security and resiliency; core enterprise and zCloud; network and edge; and digital workplace. Only Teradata gives you the flexibility to handle the massive and mixed data workloads of the future, today. 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. Director (Former Employee) - San Diego, CA - December 22, 2021. 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. What it does: Box makes cloud-based file-sharing and content-management software. About Teradata 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. Read Full Review 5.0 Feb 2, 2023 Review Source: Product: Teradata Vantage Perspective by experience. -- Teradata (NYSE: TDC ) today announced its fourth-quarter and full- year 2021 financial results. "2021 was an impressive year for Teradata. Teradata has acquired 16 companies. Why it's an acquisition target: Couchbase went public in 2021 and has since been pivoting to offer a fully cloud-hosted database. He's not sure any company would be able to get a Slack-sized deal done in the current economic climate aside from, perhaps, Microsoft. Teradata has made 12 acquisitions 0. A total of 5 acquisitions came from private equity firms.It has also divested 1 asset.. Teradata's largest acquisition to date was in 2011, when it acquired Teradata - Marketing Applications for $525M. 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. The attack went undetected for months, according to a Reuters report. Teradata Highlights its New Strategy and Plan to Deliver Sustainable Growth and Value Creation September 9, 2021 Presents Long-Term Financial Growth Targets, Including More Than $1 Billion in Cloud Annual Recurring Revenue (ARR) and Approximately $550 Million in Free Cash Flow in Fiscal 2025 Reaffirms Fiscal 2021 Financial Outlook The Companys GAAP effective tax rate for the three and twelve months ended December 31, 2020, includes a net $9 million income tax benefit resulting from the CARES Act of 2020, which allows US corporations a one-time opportunity to claim income tax refunds by allowing a 5-year net operating loss (NOL) carryback for taxable losses incurred in the tax year 2020. Reaffirms Fiscal 2021 Financial Outlook. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Teradata Highlights its New Strategy and Plan to Deliver Sustainable Growth and Value Creation Presents Long-Term Financial Growth Targets, Including More Than $1 Billion in Cloud Annual. We delivered strong results, driving more than 90% growth in public cloud ARR and significantly growing new cloud customers. Moving to the cloud would be a "massive disruption.". Cash flow from operations is expected to be approximately $430 million. 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. "We could see a PE sponsor taking the opportunity to find more low-hanging fruit in the model and finding further margin-expansion opportunities," RBC analysts wrote. Teradata Reports First Quarter 2021 Financial Results. Non-GAAP diluted EPS is expected to be in the range of $1.82 to $1.92. What it does: Sumo Logic makes cloud-based data-analytics software that helps companies monitor and analyze how their employees and customers are accessing data and processes in the cloud. The company faced an activist investor in 2021 who wanted to replace the board and push for higher growth rates, and there were rumors it was pursuing a sale amid the pressure. Why it's an acquisition target: In 2020, SolarWinds faced a cyberattack that spread to its clients and wreaked havoc on the company. Some potential acquirers could be Google or Cisco, RBC analysts wrote. 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. 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. The Motley Fool has a disclosure policy. 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. Teradata Columnar, a transformative advance in database technology that fully integrates columnar and row-based tables, launches. "2021 was an impressive year for Teradata. 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. Teradata has acquired in 4 different US states, and 4 countries. Now there are several other companies that are likely takeover targets for either a tech giant or a private-equity firm, RBC analysts said in a recent note to clients. Non-GAAP diluted EPS is expected to be in the range of $1.82 to $1.92. GAAP profits are predicted to range from $0.75 to $0.85 -- much weaker than in 2021. 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. What it does: Nutanix makes IT-infrastructure hardware and is currently transitioning from licensing to a software-subscription model. 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. 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%. Public cloud ARR increased to $202 million from $106 million, an increase of 91% as reported and 92% in constant currency . Heading into last night's report, analysts had forecast that Teradata would earn an adjusted profit of $0.27 per share on sales of $478.6 million. Total ARR is expected to grow at a mid-to-high-single-digit percentage year-over-year. 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. Teradata Market Cap: $3.2 billion What it does: Teradata makes software for cloud databases and analytics. The company has spent over $ 808M for the acquisitions. They said Rapid7 and Varonis Systems could potentially acquire Qualys. "Given intense competition, we believe the company could benefit from additional scale and could be an interesting asset to a bigger platform vendor that could spend more than Sumo could as an independent company," the analysts wrote. It's also facing competition from Microsoft that's likely making it harder to grow as quickly, RBC analysts wrote. ARR does not include managed services and third-party software. 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. May 6, 2021. "Anything sub-$10 billion is more feasible for strategics in this environment," he told Insider. Forward-looking statements in this release include our 2022 first quarter and full year financial guidance and share repurchase plans. "Additionally, we do believe a large back-office vendor could get interested, though we see this as less likely given SAP, Workday, and Oracle all have competing solutions.". This includes machine upgrade and machine migration, as well as software support, such as upgrades or specific patches. 1. Download this Press Release. This is an increase from the range of $1.60 to $1.70, which was previously communicated at Teradatas Investor Day in September 2021. What it does: Teradata makes software for cloud databases and analytics. 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. SAN DIEGO--(BUSINESS WIRE)--Teradata (NYSE: TDC) today announced its fourth-quarter and full-year 2021 financial results. As described below, the Company believes that free cash flow is a useful non-GAAP measure for investors. Our enterprise analytics solve business challenges from start to scale. And while there have been several large strategic acquisitions recently including Adobe's bid for Figma, which was the largest ever for a private-software company, and Salesforce's $27 billion deal for Slack Rishi Jaluria, an analyst at RBC, sees smaller-scale M&A as more realistic in the current economic environment. Cash provided by operating activities (GAAP). Teradata does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. 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. 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. Teradata Helps Customers Unlock True Value of their Data with Integration of Teradata VantageCloud and Microsoft Azure Machine Learning Read the press release Feb 22, 2023 Press Teradata Appoints Jose Garces Go-To-Market Vice President of Northern Europe and Southern Europe Read the press release Feb 13, 2023 Press The analyst . 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. 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. 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. This release contains forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934. Your privacy is important. Teradata is the connected multi-cloud data platform for enterprise analytics company. 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%. 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. does singing help your jawline,
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