Tintri, Inc. Announces Unaudited and Consolidated Earnings Results for the Third Quarter and Nine Months Ended October 31, 2017; Provides Earnings Guidance for the Fourth Quarter Ending January 31, 2018
December 13, 2017 at 04:05 pm EST
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Tintri, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended October 31, 2017. For the quarter, the company reported total revenues of $31.772 million compared to $33.917 million a year ago. The third quarter revenue was impacted by continued headwinds have faced since IPO in June. Loss from operations was $35.753 million compared to $22.504 million a year ago. Loss before provision for income taxes was $37.793 million compared to $23.681 million a year ago. Net loss attributable to common stockholders was $37.925 million or $1.21 basic and diluted loss per share compared to $23.770 million or $6.87 basic and diluted loss per share a year ago. Non-GAAP loss from operations was $22.548 million compared to $19.203 million a year ago. Non-GAAP net loss attributable to common stockholders was $24.718 million or $0.79 basic and diluted loss per share compared to $20.484 million or $0.95 basic and diluted loss per share a year ago. At the end of third quarter, debt stood at $68.6 million, consistent with the prior quarter. Net cash used in operating activities was $30.156 million against $18.692 million a year ago. Purchase of property and equipment was $2.046 million against $1.100 million a year ago. Free cash flow was $32.202 million against $19.792 million a year ago.
For the nine months, the company reported total revenues of $96.993 million compared to $84.349 million a year ago. Loss from operations was $114.187 million compared to $76.504 million a year ago. Loss before provision for income taxes was $119.844 million compared to $79.813 million a year ago. Net loss attributable to common stockholders was $100.524 million or $6.33 basic and diluted loss per share compared to $80.253 million or $23.52 basic and diluted loss per share a year ago. Net cash used in operating activities was $71.611 million compared to $58.204 million a year ago. Purchase of property and equipment was $4.100 million compared to $3.431 million a year ago. Non-GAAP loss from operations was $73.255 million compared to $65.762 million a year ago. Non-GAAP net loss attributable to common stockholders was $79.312 million or $2.86 basic and diluted loss per share compared to $69.430 million or $3.24 basic and diluted loss per share a year ago. Free cash flow was $75.711 million against $61.635 million a year ago.
The company provided earnings guidance for the fourth quarter ending January 31, 2018, the company expects revenue in the range of $25 to $27 million and non-GAAP loss per share in the range of $0.79 to $0.83.
Tintri, Inc. is a storage company. The Company provides customized solutions for storing and managing virtual machines in enterprise data centers through its wholly owned subsidiary of DataDirect Networks (DDN). The Companyâs products include VMstore, DDN IntelliFlash and NexentaStor. Its products also include block storage, flash storage, file storage, artificial intelligence (AI) storage, unified storage, monitoring and management, and software-defined storage, including SFA18KX, SFA7990X, SFA200NVX2, SFA400NVX2, EXAScaler, A3I, AI400X2, DDN DataFlow and DDN Insight. The Company's solutions include structured query language (SQL) integrated storage, databases, data protection, DevOps, virtual desktop infrastructure (VDI), virtualization, enterprise AI and industry solutions.
Tintri, Inc. Announces Unaudited and Consolidated Earnings Results for the Third Quarter and Nine Months Ended October 31, 2017; Provides Earnings Guidance for the Fourth Quarter Ending January 31, 2018