First quarter financial results for Apache Hadoop developer Hortonworks shows an increase in revenue of 167% over the same period in 2014.
Total revenue for the period was $22.8 million, representing a gross profit of $11.3 million.
The company, however, reported a net loss for the quarter of $40.1 million compared to loss of $20.3 million in the first quarter of 2014.
Rob Bearden, chief executive officer and chairman of the board of directors, Hortonworks, said: “We are pleased with our first quarter performance which was highlighted by strong revenue growth and the addition of 105 new support subscription customer logos.
“This brings our support subscription customer base to over 400 and represents over 200% year-over-year growth in our customer base. Coupled with our 143% dollar-based net expansion rate over the trailing four quarters, it is becoming more evident that our land and expand strategy is leading to rapid Hadoop adoption across many enterprise organisations.”
Company forecasts predict Hortonworks will finish the year with a net loss between $78 million and $84 million.
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