Cornerstone OnDemand Q3 Loss Widens

(RTTNews) - Cornerstone OnDemand Inc. (CSOD) reported that its net loss for the third quarter of 2014 widened to $14.3 million or $0.27 per share, from $11.1 million or $0.21 per share in the third quarter of 2013.

Non-GAAP net loss for the third quarter was $2.2 million or $0.04 per share, compared to a non-GAAP net loss of $1.9 million or $0.04 per share last year. Analysts polled by Thomson Reuters expected the company to report a loss of $0.05 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the third quarter of 2014 was $68.32 million, representing a 42% increase from $48.27 million last year. Wall Street expected revenues of $68.37 million for the quarter.

Bookings, which the Company defines as revenue plus the change in deferred revenue for the period, were $82.1 million for the third quarter of 2014, representing a 31% increase compared to the same period in 2013.