Cornerstone OnDemand

Education Technology cloud e-learning enterprise software human capital social networks

Cornerstone OnDemand is a global provider of a comprehensive learning and talent management solutions delivered as Software-as-a-Service. The Company enables organizations to meet the challenges they face in empowering their people and maximizing the productivity of their human capital. Its integrated cloud-based software offering consists of Cornerstone Onboarding, Cornerstone Recruiting, Cornerstone Performance, Cornerstone Learning, Cornerstone Connect, Cornerstone Succession, Cornerstone Compensation and Cornerstone Extended Enterprise. The Company's clients use its solutions to develop employees throughout their careers, engage all employees effectively, improve business execution, cultivate future leaders and integrate with their external networks of customers, vendors and distributors.

Revenue(FY, 2017)

$482 M

Market capitalization(2018-06-18)

$3 B

Customers(Q3, 2017)

3.1 K

Type

Public

Santa Monica, US

Founded

1999

Size (employees)

1,960 (est)

Website

cornerstoneondemand.com

Cornerstone OnDemand was founded in 1999 and is headquartered in Santa Monica, US

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Key People/Management at Cornerstone OnDemand

Adam Miller

Founder & CEO

Jeff Lautenbach

President, Global Field Operations

Brian Swartz

CFO

Adrianna Burrows

Chief Marketing Officer

Mark Goldin

Chief Technology Officer

Adam Weiss

Chief Administrative Officer & General Counsel

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Cornerstone OnDemand Office Locations

Cornerstone OnDemand has offices in São Paulo, Bogotá, Ciudad de México, Singapore and in 29 other locations

Santa Monica, US (HQ)

600 1601 Cloverfield Blvd

San Francisco, US

1069 795 Folsom St

Sunnyvale, US

130 710 Lakeway Dr

Buenos Aires, AR

Victoria Ocampo 360 – 3rd floor

Sydney, AU

13 167 Macquarie St

Bruxelles, BE

Pegasuslaan 5

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Cornerstone OnDemand Financials and Metrics

Cornerstone OnDemand Financials

Cornerstone OnDemand's revenue was reported to be $481.99 m in FY, 2017

Summary

USD
Revenue (Q1, 2018)	133.1 m
Gross profit (Q1, 2018)	96.1 m
Gross profit margin (Q1, 2018), %	72.2%
Net income (Q1, 2018)	(16.2 m)
EBIT (Q1, 2018)	(8.8 m)
Market capitalization (18-Jun-2018)	3 b
Closing share price (18-Jun-2018)	52.2
Cash (31-Mar-2018)	413.3 m

Cornerstone OnDemand's current market capitalization is $3 b.

Source: Company Filings

Income Statement

Annual

USD	FY, 2010	FY, 2011	FY, 2012	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Revenue	43.7 m	73 m	117.9 m	185.1 m	263.6 m	339.7 m	423.1 m	482 m
Revenue growth, %		67%	61%	57%	42%	29%	25%
Cost of goods sold				53.5 m	77.7 m	109.9 m	135.8 m	142.9 m
Gross profit				131.6 m	185.9 m	229.8 m	287.4 m	339.1 m

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q1, 2018
Revenue	48.3 m	57.4 m	61.5 m	68.3 m	74 m	82.6 m	87.3 m	99.3 m	107 m	107.8 m	111.6 m	116.7 m	133.1 m
Cost of goods sold	13.6 m	17.4 m	17.4 m	19.4 m	24.7 m	27.9 m	27.2 m	31.7 m	36 m	33.4 m	33.9 m	35.3 m	37 m
Gross profit	34.6 m	40 m	44.1 m	48.9 m	49.3 m	54.7 m	60 m	67.7 m	71.1 m	74.4 m	77.6 m	81.3 m	96.1 m
Gross profit Margin, %	72%	70%	72%	72%	67%	66%	69%	68%	66%	69%	70%	70%	72%

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Source: Company Filings

Balance Sheet

Annual

usd	Y, 2009	Y, 2010	Y, 2011	Y, 2012	Y, 2013	Y, 2014	Y, 2015	FY, 2016	FY, 2017
Cash	8.1 m	7.1 m	85.4 m	76.4 m	109.6 m	166.6 m	107.7 m	83.3 m	393.6 m
Accounts Receivable					67.2 m	84.5 m	104.7 m	136.7 m	154.4 m
Inventories					14.1 m	13 m	15.3 m	18.5 m
Current Assets					407.5 m	406.4 m	400.4 m	493.5 m	782.1 m

Quarterly

USD	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q1, 2018
Cash	79.4 m	57.9 m	94.5 m	112.6 m	65.3 m	59.9 m	107 m	413.3 m
Accounts Receivable	80.6 m	93.3 m	88.5 m	103.3 m	99.6 m	98.9 m	119.2 m	114 m
Current Assets	349.4 m	352.9 m	414.2 m	420.8 m	388.5 m	450.4 m	487.9 m	785.2 m
PP&E	29.8 m	28.8 m	26.8 m	25.5 m	24.8 m	22.1 m	22.9 m	24.6 m

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Cash Flow

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Net Income	(40.4 m)	(64.9 m)	(85.5 m)	(66.8 m)	(61.3 m)
Depreciation and Amortization	9.7 m	15.1 m	27.5 m	32.4 m	35.4 m
Inventories
Accounts Payable	5.1 m	4.6 m	4.4 m	5.9 m	(6.8 m)

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q1, 2018
Net Income	(29.7 m)	(15.8 m)	(32.4 m)	(46.7 m)	(23.3 m)	(46.5 m)	(66.7 m)	(18.2 m)	(17.6 m)	(12.4 m)	(16.2 m)	(16.2 m)
Depreciation and Amortization	7 m	3.1 m	6.3 m	9.8 m	6.2 m	12.9 m	19.9 m	7.6 m				7.8 m
Accounts Payable	3 m	1.1 m	2.6 m	2 m	(2.4 m)	(1.7 m)	(1 m)	(6.3 m)	16.5 m	14 m	9.5 m	(7.6 m)
Cash From Operating Activities	(2.1 m)	879 k	(7.3 m)	(11.4 m)	(2.7 m)	(15.3 m)	(9.3 m)	(14.9 m)				(4.6 m)

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Ratios

USD	Y, 2018
Financial Leverage	28.9 x

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Cornerstone OnDemand Operating Metrics

Cornerstone OnDemand's Users was reported to be 33.5 m in Q3, 2017. Cornerstone OnDemand's Customers was reported to be 3.1 k in Q3, 2017.

	Q1, 2014	Q2, 2014	Q3, 2014	Q4, 2014	FY, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q4, 2015	FY, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q4, 2016	FY, 2016	Q1, 2017	Q2, 2017	Q3, 2017
Bookings	$49.70 m	$70.10 m	$82.10 m	$114.20 m	$316.10 m	$63.50 m	$91.30 m	$103.70 m	$142 m	$400.50 m	$83.70 m
Users	14.50 m	15.50 m	16.60 m	18.10 m		19.10 m	20.50 m	22.20 m	23.80 m		25 m	26.30 m		29.90 m	29.90 m	31 m	32.10 m	33.50 m
Customers	1.70 k	1.80 k	1.90 k	2.10 k		2.20 k	2.30 k	2.40 k	2.60 k		2.67 k	2.73 k	2.81 k	2.92 k	2.92 k	3 k	3.08 k	3.15 k
Countries	191	191	191	191		191	191	191	191		191	191	191	191	191	191	192	192