Cornerstone OnDemand, a global cloud-based learning and people development software company, has announced a net loss of $12.5 million for the first quarter of 2021, compared to a net loss of $13.8 million for the first quarter of 2020.
Revenue for the quarter was $209.3 million, up from $150.1 million reported for Q1 2020.
Cornerstone OnDemand chief executive Phil Saunders said: “I’m very pleased with a solid first quarter and a strong start to Cornerstone’s fiscal year 2021, despite these unprecedented times. We have continued to execute on our transformation road map, and while we believe we have an aggressive road map to implement this year, we remain confident in our ability to unlock growth and earnings power within the business.”
Chirag Shah, chief financial officer, added: “We are proud of our first-quarter business and operational accomplishments, and the resulting financial performance. We are raising our profitability estimates for 2021 to reflect our positive business trends and the strong start to the year.”
Cornerstone OnDemand is headquartered in Santa Monica, California.
Date published: 7 May 2021