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Hortonworks still burning cash, still aiming to become billion-dollar biz

Submitted by on August 11, 2017 – 1:30 amNo Comment

Hadoop-flinger Hortonworks continues to burn through cash, but boss Rob Bearden has said that the biz is on target to cut spending by the end of the year. The latest results show the firm once again boosted its revenues, achieving a figure of $61.8m for the quarter ending June 30 – up 42 per cent on the same period in 2016. It is also up on revised estimates made at the end of last month, which had predicted revenue of $58m to $59m.

Hortonworks

But the results show that the company, which went public in 2014, is still running a net operating loss. Hortonworks recorded an overall operating loss of $56.1m – compared with $64.2m in Q2 of 2016, and $54.5m in Q1 of this year. The company has insisted that it will reach operating cashflow breakeven by Q4 of this year, with Bearden telling analysts during the earnings call that they were on track to reach this target.

To read the entire article, please click on this link https://www.theregister.co.uk/2017/08/04/hortonworks_results/