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Our enterprise analytics solve business challenges from start to scale. Free cash flow does not represent the residual cash flow available for discretionary expenditures since there may be other nondiscretionary expenditures that are not deducted from the measure. View source version on businesswire.com: 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. Moving to the cloud would be a "massive disruption.". GAAP profits are predicted to range from $0.75 to $0.85 -- much weaker than in 2021. 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. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. 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. Large companies look to score tools at a discount while private-equity firms also eye takeovers. The software industry is expecting more M&A as software valuations continue to drop. What it does: Nutanix makes IT-infrastructure hardware and is currently transitioning from licensing to a software-subscription model. They said Rapid7 and Varonis Systems could potentially acquire Qualys. The space is "crowded," RBC analysts wrote in a note, and "over time, could benefit from consolidation with adjacent collaboration solutions.". Download this Press Release. These forward-looking statements are based upon current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially, including the factors discussed in this release and 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 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, including the impact of the COVID-19 pandemic on our customers and suppliers; risks associated with data privacy, cyberattacks and maintaining secure and effective 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 workforce and the ability to attract and retain skilled employees; protecting our intellectual property; the availability and successful exploitation of new alliance and acquisition opportunities; subscription arrangements 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 annual report on Form 10-K for the year ended December 31, 2020 and subsequent quarterly reports on Forms 10-Q, as well as the Companys annual report to stockholders. 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. This is an increase from at least 70% growth year-over-year, which was previously communicated at Teradatas Investor Day in September 2021. The company has made a few small acquisitions of it own as it looks to expand beyond video conferencing into a video-communications platform. 858-485-2523 office "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. 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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. Teradata now has a total of approximately $1.3 billion authorized for share repurchases under this program. Cost basis and return based on previous market day close. The strength of our performance in 2021 is matched by our conviction to continue accelerating in 2022. GAAP profits for the quarter were only $0.29 per share -- not $0.57. Represents the income tax effect of the pre-tax adjustments to reconcile GAAP to Non-GAAP income based on the applicable jurisdictional statutory tax rate of the underlying item. Zendesk, which offers customer-service software, was also taken private for $10.2 billion by an investor group, which Hellman & Friedman and Permira led. However, as described below, the Company believes that certain non-GAAP measures such as non-GAAP gross profit, non-GAAP operating income, non-GAAP net income, and non-GAAP earnings per diluted share, or EPS, all of which exclude certain items (as well as free cash flow), and which may be reported on a constant currency basis, are useful for investors. 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 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. Why it's an acquisition target: Smartsheet is operating in a competitive space, as the number of collaborative work-management tools has skyrocketed in recent years. Why it's an acquisition target: RBC and other analysts have seen Dropbox as a potential acquisition target for a while. In addition, for the non-GAAP operating margin target for fiscal 2025, Teradata is not providing a reconciliation to the most comparable GAAP measure (GAAP operating margin target for fiscal 2025) as non-GAAP adjustments relate to events that have not yet occurred and would be unreasonably burdensome to forecast. 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. "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.". "And could even see a traditional networking company like CSCO taking a look at FSLY.". Free cash flow does not have a uniform definition under GAAP and, therefore, Teradatas definition may differ from other companies definitions of this measure. "As large IT vendors need a view into both public and on-premise spending, Nutanix could help solve that given its large scale, salesforce, and market opportunity," RBC analysts wrote. 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%. jennifer.donahue@teradata.com. The strength of our performance in 2021 is matched by our conviction to continue accelerating in 2022. You must click the link in the email to activate your subscription. The impact of currency is determined by calculating the prior period results using the current-year monthly average currency rates. Join SI Premium - FREE. Why it's an acquisition target: Teradata has been in the process of transitioning to the cloud, and has so far been successful, RBC analysts wrote. Why it's an acquisition target: Jana Partners, a group of activist investors, is targeting New Relic and preparing to explore a potential sale to private equity, Reuters reported in July. 2. The following tables reconcile Teradatas actual and projected results and EPS under GAAP to the Companys actual and projected non-GAAP results and EPS for the periods presented, which exclude certain specified items. However, lately it has been facing issues with customer retention after a surge in usage during the pandemic, RBC analysts said. Note to Investors February 2, 2021 He Couldn't Beat Teradata. This release contains forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934. "With a strong margin profile but still in recovery from the prior cyber-attack, we think SWI could be an interesting PE candidate for a firm that could leverage a growing SaaS portfolio, unique low-touch sales model and high margins," RBC analysts wrote.