Working at Teradata: 269 Reviews | Indeed.com What happened was that foreign hackers, who some top US officials believe are from Russia, were able to use the hack to spy on private companies like the elite cybersecurity firm FireEye and the upper echelons of the US government, including the Department of Homeland Security and the Treasury Department. Including the income tax effect assists investors in understanding the tax provision associated with those adjustments and the effective tax rate related to the underlying business and performance of the Companys ongoing operations. Cloud-native warehouses get around the concurrency problem by spinning up new warehouse instances, but that can leave users dealing with the cost of unplanned demand on cloud services. Company Mergers, Acquisitions, & JVs News | Rigzone We look forward to delivering ongoing innovation for our customers, maintaining our ethos of strong corporate citizenship, and driving profitable growth and long-term value creation for our shareholders., Teradata is raising its 2022 outlook for public cloud ARR and EPS, as well as increasing the return of capital to shareholders, said Claire Bramley, Chief Financial Officer, Teradata. Including the income tax effect assists investors in understanding the tax provision associated with those adjustments and the effective tax rate related to the underlying business and performance of the Companys ongoing operations. Invest better with The Motley Fool. Now He's Its CEO Alex Woodie When Steve McMillan worked in IBM Global Services, he oversaw the outsourcing of nearly every major piece of a large global financial services firm's IT stack with Big Blue products. This is an increase from the range of $1.60 to $1.70, which was previously communicated at Teradatas Investor Day in September 2021. "It would not surprise us to see interest from private equity, especially after the significant slowdown in growth," RBC analysts wrote. Teradata Highlights its New Strategy and Plan to Deliver Sustainable Growth and Value Creation Presents Long-Term Financial Growth Targets, Including More Than $1 Billion in Cloud Annual. They also note that Microsoft and Google sell their content-management tools as part of a larger suite while Dropbox doesn't have a full-fledged sales team focused on enterprise customers. Cloud ARR represents public cloud ARR, which is defined as the annual value at a point in time of all contracts related to public cloud implementations of Teradata Vantage and does not include ARR related to private or managed cloud implementations. Teradata Reports First Quarter 2021 Financial Results 2023 Phase one of GMH, in Gulf of Guinea's Punta Europa, started delivering gas in February 2021. He's not sure any company would be able to get a Slack-sized deal done in the current economic climate aside from, perhaps, Microsoft. "2021 was an impressive year for Teradata. Each of our non-GAAP measures do not have a uniform definition under GAAP and therefore, Teradatas definition may differ from other companies definitions of these measures. Teradatas management uses free cash flow to assess the financial performance of the Company and believes it is useful for investors because it relates the operating cash flow of the Company to the capital that is spent to continue and improve business operations. Teradata Stock: Snowflake On A Budget? - Forbes We continue to demonstrate our commitment to deliver shareholder value through disciplined capital allocation, including our intention to enter into a $250 million accelerated share repurchase program in the first quarter, enabled by our strong balance sheet and projections of cash flow generation., Fourth-Quarter 2021 Financial Highlights Compared to Fourth-Quarter 2020, Full-Year 2021 Financial Highlights Compared to Full Year 2020. 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. 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. Overview of Teradata's Acquisitions All Acquisitions : 12 [View Details] Latest Acquisitions : Access to the conference call, as well as a replay of the conference call, is available on Teradatas website at investor.teradata.com. The Company believes this is a useful metric to investors as it demonstrates progress toward achieving our strategic objectives as outlined in the Form 10-K and Form 10-Q. We delivered strong results, driving more than 90% growth in public cloud ARR and significantly growing new cloud customers. Teradata Helps Customers Unlock True Value of their Data with Integration of Teradata VantageCloud and Microsoft Azure Machine Learning Read the press release Feb 22, 2023 Press Teradata Appoints Jose Garces Go-To-Market Vice President of Northern Europe and Southern Europe Read the press release Feb 13, 2023 Press If the company is not able to execute its new strategy, it might make sense for the board to explore a sale to a larger firm, the analysts wrote. Jana Partners is also the activist firm that pushed Zendesk to be acquired by a group of private equity firms led by Hellman & Friedman and Permira. 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. The company's growth has stagnated in recent years due to competition from players like Dynatrace and Datadog, and its customer count is down. Teradata has acquired in 4 different US states, and 4 countries. Forward-looking statements generally relate to opinions, beliefs, and projections of expected future financial and operating performance, business trends, liquidity, and market conditions, among other things. "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. "This could make even more sense if the market consolidates up to the platform level," the analysts wrote. "We could see GOOGL as a potential acquirer of FSLY in order to bring edge cloud together with GOOGL's GCP central cloud," they wrote. 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. Teradata support employees are holding their breath to the point of turning blue. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. The workplace culture is toxic at Teradata, with the leadership team and HR unsupportive when issues arise. The Companys GAAP effective tax rate for the twelve months ended December 31, 2020, includes $156 million of discrete tax benefit related to an intra-entity asset transfer of certain of its intellectual property to one of its Irish subsidiaries, which occurred on January 1, 2020. Teradata is the connected multi-cloud data platform for enterprise analytics, solving data challenges from start to scale. Yankees Option Franchy Cordero - MLB Trade Rumors Total ARR is expected to grow at a mid-to-high-single-digit percentage year-over-year. GAAP diluted EPS is expected to be in the range of $0.35 to $0.39. Our management internally uses supplemental non-GAAP financial measures, such as gross profit, operating income, net income, and EPS, excluding certain items, to understand, manage and evaluate our business and support operating decisions on a regular basis. 10087 0 obj <> endobj "In other words, we believe larger scale debt-financed private-equity takeouts could be unlikely in the near-term," RBC analysts wrote. We continue to demonstrate our commitment to deliver shareholder value through disciplined capital allocation, including our intention to enter into a $250 million accelerated share repurchase program in the first quarter, enabled by our strong balance sheet and projections of cash flow generation., Fourth-Quarter 2021 Financial Highlights Compared to Fourth-Quarter 2020, Full-Year 2021 Financial Highlights Compared to Full Year 2020. The global data warehouse stalwart made its name with tightly integrated software and hardware systems sold as analytics "appliances", but in the last two years has shifted focus to its cloud platform following fierce competition from so-called cloud-native rivals including Snowflake, AWS, Microsoft, and Google. This is an increase from at least 70% growth year-over-year, which was previously communicated at Teradatas Investor Day in September 2021. 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. PDF Teradata Reports Fourth-Quarter and Full-Year 2021 Financial Results They pointed to some deals that had already been done in the space like Citrix and Wrike, Adobe and Workfront, and Atlassian and Trello. The Motley Fool has a disclosure policy. Large companies look to score tools at a discount while private-equity firms also eye takeovers. * 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. 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. The company faced an activist investor in 2021 who wanted to replace the board and push for higher growth rates, and there were rumors it was pursuing a sale amid the pressure. We delivered strong results, driving more than 90% growth in public cloud ARR and significantly growing new cloud customers. Moving to the cloud would be a "massive disruption.". Teradata declined the opportunity to deny hardware support was being transferred to IBM. Company Mergers, Acquisitions, & JVs; . Big Blue itself responded to us by saying we needed to ask Teradata for comment. GAAP diluted EPS is expected to be in the range of $0.75 to $0.85. And just last month, Adobe executives announced the company is acquiring the beloved design startup Figma for $20 billion. What it does: Fastly makes content-delivery network, or CDN, software, which helps websites and applications load faster. Teradata has been caught between conflicting demands of investors impatient to see it execute a cloud-first strategy, and customers uncertain about how highly optimised concurrent queries will work in the cloud. However, they think the overall market for IT-service management will consolidate over time, and N-Able is one company that a private-equity firm could acquire as part of that trend. The Company believes such non-GAAP financial measures (1) provide useful information to investors regarding the underlying business trends and performance of the Companys ongoing operations, (2) are useful for period-over-period comparisons of such operations and results, that may be more easily compared to peer companies and allow investors a view of the Companys operating results excluding stock-based compensation expense and special items, (3) provide useful information to management and investors regarding present and future business trends, and (4) provide consistency and comparability with past reports and projections of future results. Total ARR is expected to grow at a mid-to-high-single-digit percentage year-over-year. Teradata (TDC 0.36%) stock surged in morning trading today, up 24.2% as of 10:50 a.m. The company started as a file-sharing service and has since added capabilities like document collaboration and e-signatures. Teradata is the connected multi-cloud data platform for enterprise analytics company. A Look At Teradata's History & Achievements Salesforce could be an interesting buyer, especially because it already has Slack. , The Register Biting the hand that feeds IT, Copyright. The Company believes such non-GAAP financial measures (1) provide useful information to investors regarding the underlying business trends and performance of the Companys ongoing operations, (2) are useful for period-over-period comparisons of such operations and results, that may be more easily compared to peer companies and allow investors a view of the Companys operating results excluding stock-based compensation expense and special items, (3) provide useful information to management and investors regarding present and future business trends, and (4) provide consistency and comparability with past reports and projections of future results. PDF Teradata Announces Preliminary First Quarter Fiscal 2021 Financial Download this Press Release. Teradata defines free cash flow as cash provided by / used in operating activities, less capital expenditures for property and equipment, and additions to capitalized software. 10131 0 obj <>stream All of which positions us to achieve over $1 billion in Cloud ARR(1) and approximately $550 million in free cash flow(2) in fiscal 2025 and deliver significant long-term value to our shareholders.. 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. You can sign up for additional subscriptions at any time. Teradata reports its results in accordance with GAAP. It's also facing competition from Microsoft that's likely making it harder to grow as quickly, RBC analysts wrote. Rich Smith has no position in any of the stocks mentioned. Los Angeles Kings Rumors: Team Will Have To Be Savvy With Salary Cap To Cash provided by operating activities (GAAP). I am proud of our team's steadfast focus on execution and operational excellence that enabled us to meet or beat every element of our What it does: Teradata makes software for cloud databases and analytics. hX[o+|LP}"/MbNi Teradata is outsourcing field-based support on both sides of the pond to IBM, much to the alarm of some customers who fear a loss of knowledge in keeping its trusted on-prem systems up and running. What it does: Splunk makes software for IT professionals that sift through and analyze enormous amounts of performance and system data in their networks. San Diego, CA 92127, investor.relations@teradata.com These forward-looking statements are based upon current expectations and assumptions and often can be identified by words such as expect, strive, looking ahead, outlook, guidance, forecast, anticipate, continue, plan, estimate, believe, will, would, likely, intend, potential, or similar expressions. 858-485-3029 office Free cash flow does not have a uniform definition under GAAP and, therefore, Teradatas definition may differ from other companies definitions of this measure. Free cash flow does not have a uniform definition under GAAP and, therefore, Teradatas definition may differ from other companies definitions of this measure. I am proud of our teams steadfast focus on execution and operational excellence that enabled us to meet or beat every element of our annual outlook, said Steve McMillan, President and CEO, Teradata. What it does: Sumo Logic makes cloud-based data-analytics software that helps companies monitor and analyze how their employees and customers are accessing data and processes in the cloud. The business will be based around six units: cloud, applications, data and AI; security and resiliency; core enterprise and zCloud; network and edge; and digital workplace. A person who asked to remain anonymous pointed out that while systems architects were trying to convince businesses to make the shift to the cloud, users of Teradata systems business analysts who use data to inform important company decisions were less keen. Recurring revenue is expected to grow at a high-single-digit to low-double-digit percentage year-over-year; Total revenue is expected to grow at a low-single-digit to mid-single-digit percentage year-over-year; GAAP earnings per diluted share is expected to be in the range of $0.78 to $0.82; Non-GAAP earnings per diluted share, excluding stock-based compensation expense, reorganization-related expenses, and other special items, is expected to be in the range of $1.92 to $1.96, Cash flow from operations is expected to be at least $440 million; and, Free cash flow is expected to be at least $400 million. "We would note M&A activity has remained elevated in security.". Teradata is dedicated to helping enterprise businesses around the globe use data analytics to tackle the problems they face every day. Companies like Salesforce and Microsoft would benefit from buying Smartsheet and adding those capabilities to their platforms, the analysts wrote. To more accurately reflect the impact of the expense on a quarterly basis for non-GAAP purposes, the $3 million of tax expense was recognized ratably each quarter in 2020 instead of being included in the marginal effective rate. However, Petersen really disappointed this season, getting sent down to the minors after just 10 games. The firm also acquired Anaplan, a business-planning-software company, for $10.7 billion in June. However, Box ended up getting an investment from the private-equity firm KKR that halted rumors of a sale and subsequently saw higher growth rates. The following table reconciles Teradatas projected cash provided by operating activities under GAAP to projected free cash flow for fiscal 2021. 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. Why it's an acquisition target: The space Sumo Logic operates in is competitive, so despite the company being in a good position to accelerate growth, it could benefit from joining forces with a larger player, RBC analysts wrote. For the year, Teradata grew its sales 4% to $1.9 billion (but with 12% growth in recurring revenue), added 640 basis points to its gross margin (now 61.9%), and reported $1.30 per share -- GAAP -- on the bottom line. PDF Teradata Reports Fourth-Quarter and Full-Year 2021 Financial Results Christopher T. Lee What it does: Zoom makes video-conferencing tools, including video chat, cloud-phone services, and video software for conference rooms. 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. Teradata Corporation - Teradata Highlights its New Strategy and Plan to (Updated - December 20, 2021 5:24 AM EST) Needham & Company analyst Jack Andrews upgraded Teradata (NYSE: TDC) from Hold to Buy with a price target of $64.00. endstream endobj startxref A conference call is scheduled for today at 2:00 p.m. PT to discuss the Companys fourth-quarter and full-year 2021 results, and provide a business and financial update. IBM Takes Over Teradata - NexusDataServer.com Why it's an acquisition target: Companies like Yelp, Ticketmaster, Stripe, and Github use Fastly's technology. 858-485-2523 office All rights reserved 19982023, Funny way to describe a company that makes toilet cleaner, ChatGPT is just the beginning: CISOs need to prepare for the next wave of AI-powered attacks, Reworked use of object storage changes footing with competitors but will need to convince devs, Calls time on interactions and services with customers, including state-owned bank Sberbank, Perpetual software and hardware licenses dive in Q4, consultancy withers on vine, State-owned Sberbank's software contracts under scrutiny, Teradata also sees wings clipped in ongoing battle with German ERP giant, On-prem systems hold advantages in terms of known costs, say insiders, Amazon Web Services (AWS) Business Transformation, Can Teradata avoid being grounded by on-prem legacy? Public cloud ARR increased by $79 million, or 176% from the prior year period, exceeding the outlook of at least 165% year-over-year (1) First-quarter recurring revenue of $372 million, an increase of 20% from the prior year period. Public cloud ARR is defined as the annual value at a point in time of all contracts related to public cloud implementations of Teradata Vantage and does not include ARR related to private or managed cloud implementations. Adjustments to reconcile net income to net cash provided by operating activities: Effect of exchange rate changes on cash and cash equivalents, Public cloud ARR of $202 million, an increase of 91% as reported from the prior year period, Fourth quarter recurring revenue of $364 million, an increase of 5% as reported from the prior year period, Recurring revenue was 77% of total revenue in the fourth quarter, up from 70% the prior year period, Fourth quarter GAAP earnings per diluted share of $0.29, above the previously provided outlook range of $(0.05) to $(0.01), Fourth quarter Non-GAAP earnings per diluted share of $0.57, above the previously provided outlook range of $0.25 to $0.29, Fourth quarter cash from operations of $95 million and free cash flow of $85 million, Intends to enter into a $250 million accelerated share repurchase program in the first quarter, Public cloud ARR increased to $202 million from $106 million, an increase of 91% as reported and 92% in constant currency, ARR increased to $1.492 billion from $1.425 billion, an increase of 5% as reported and 7% in constant currency, Recurring revenue was $364 million versus $346 million, an increase of 5% as reported and 6% in constant currency, Total revenue was $475 million versus $491 million, a decrease of 3% as reported and 2% in constant currency, Non-GAAP gross margin was 63.2% versus 59.3%, GAAP operating income was $50 million versus $13 million, Non-GAAP operating income was $90 million versus $67 million, GAAP diluted EPS was $0.29 versus $0.04 per share, Non-GAAP diluted EPS was $0.57 versus $0.38, Cash flow from operations was $95 million compared to $56 million, Free cash flow was $85 million compared to $45 million, Recurring revenue was $1.464 billion from $1.309 billion, an increase of 12% as reported and 11% in constant currency, Total revenue was $1.917 billion from $1.836 billion, an increase of 4% as reported and 3% in constant currency, Non-GAAP gross margin was 63.4% versus 58.4%, GAAP operating income was $231 million versus $16 million, Non-GAAP operating income was $393 million versus $230 million, Non-GAAP diluted EPS was $2.43 versus $1.31, Cash flow from operations was $463 million versus $267 million, Free cash flow was $432 million versus $216 million. The Companys GAAP effective tax rate for the twelve months ended December 31, 2020, includes $156 million of discrete tax benefit related to an intra-entity asset transfer of certain of its intellectual property to one of its Irish subsidiaries, which occurred on January 1, 2020. Annual recurring revenue (ARR) is defined as the annual value at a point in time of all recurring contracts, including subscription, cloud, software upgrade rights, and maintenance. What it does: Qualys is a cybersecurity company and makes software for cloud security, compliance, and vulnerability-management solutions. Adjustments to reconcile net income to net cash provided by operating activities: Effect of exchange rate changes on cash and cash equivalents, Public cloud ARR of $202 million, an increase of 91% as reported from the prior year period, Fourth quarter recurring revenue of $364 million, an increase of 5% as reported from the prior year period, Recurring revenue was 77% of total revenue in the fourth quarter, up from 70% the prior year period, Fourth quarter GAAP earnings per diluted share of $0.29, above the previously provided outlook range of $(0.05) to $(0.01), Fourth quarter Non-GAAP earnings per diluted share of $0.57, above the previously provided outlook range of $0.25 to $0.29, Fourth quarter cash from operations of $95 million and free cash flow of $85 million, Intends to enter into a $250 million accelerated share repurchase program in the first quarter, Public cloud ARR increased to $202 million from $106 million, an increase of 91% as reported and 92% in constant currency, ARR increased to $1.492 billion from $1.425 billion, an increase of 5% as reported and 7% in constant currency, Recurring revenue was $364 million versus $346 million, an increase of 5% as reported and 6% in constant currency, Total revenue was $475 million versus $491 million, a decrease of 3% as reported and 2% in constant currency, Non-GAAP gross margin was 63.2% versus 59.3%, GAAP operating income was $50 million versus $13 million, Non-GAAP operating income was $90 million versus $67 million, GAAP diluted EPS was $0.29 versus $0.04 per share, Non-GAAP diluted EPS was $0.57 versus $0.38, Cash flow from operations was $95 million compared to $56 million, Free cash flow was $85 million compared to $45 million, Recurring revenue was $1.464 billion from $1.309 billion, an increase of 12% as reported and 11% in constant currency, Total revenue was $1.917 billion from $1.836 billion, an increase of 4% as reported and 3% in constant currency, Non-GAAP gross margin was 63.4% versus 58.4%, GAAP operating income was $231 million versus $16 million, Non-GAAP operating income was $393 million versus $230 million, Non-GAAP diluted EPS was $2.43 versus $1.31, Cash flow from operations was $463 million versus $267 million, Free cash flow was $432 million versus $216 million. That gives the company an interesting view on how quickly companies are transitioning to the cloud, which would make it a valuable acquisition for a large IT company, RBC analysts said. Aug 23, 2021 4 min read IBM Takes Over Teradata Updated: Sep 16, 2022 The Teradata announcement of outsourcing maintenance agreements to IBM shocked the Teradata community. 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%.