The machine-learning and analytics platform beat on revenue, raking in $144.5 million compared with $121 million expectations. However, the company reported a net loss of $0.15 per share, bigger than the expected net loss of $0.11, according to TheStreet.
The share price dropped 16.8% to $12.15.
Looking ahead, the Palo Alto, California-based company projects a net loss per share between $0.22 and $0.25, below the average expected loss per share of $0.11.
This is the first quarter since the company’s merger with rival Hortonworks was completed in January. In a conference call Wednesday, the company said it had a purchase-price adjustment from the agreement that would reduce its fiscal 2020 revenue by $62 million, per MarketWatch.
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