SParikh wrote: This article speaks true to the importance and capitalizing of the cloud. Me having experience dealing with cloud based tech and consulting and integration services, I realize the need for a secure and consistant cloud service. Many people are concerned with the privacy, or lack thereof, that could occur with storing personal documents into a non-physical storage unit. I can see, though with companies such as ours and Metacloud, we are working toward a more secure and easy to use cloud system for both personal and professional use.
Spursh Parikh
www.sererra.com
“Through all of the consolidation that took place during 2012, our
business continued to excel, and Cornerstone OnDemand is today the clear
independent SaaS leader in learning and talent management,” said Adam
Miller, the Company's President and CEO. “We are extremely proud of what
our team was able to accomplish this past year. Our persistent drive to
innovate has provided our clients with a best-of-breed, end-to-end
talent management solution. With a truly global market opportunity, and
our relentless focus on client success, we look forward to continued
growth in the future.”
Revenue for the fourth quarter of 2012 was $36.4 million, representing a
63% increase compared to the same period in 2011. Non-GAAP revenue for
the fourth quarter of 2012 was $36.7 million, representing a 64%
increase compared to the same period in 2011.1 Revenue for
the full fiscal year 2012 was $117.9 million, representing a 56%
increase compared to gross revenue for the full fiscal year 2011.2
Non-GAAP revenue for the full fiscal year 2012 was $119.4 million,
representing a 58% increase compared to the full fiscal year 2011.1
Bookings, which the Company defines as gross revenue plus the change in
deferred revenue for the period, were $56.1 million for the fourth
quarter of 2012, representing a 46% increase compared to the same period
in 2011.1 Bookings for the full fiscal year 2012 were
$154.3 million, representing a 58% increase compared to the full fiscal
year 2011.1 Deferred revenue at December 31, 2012 was $92.3
million, representing a 65% increase compared to the balance at December
31, 2011.
Gross profit for the fourth quarter of 2012 was $25.7 million,
representing a 61% year-over-year increase compared to the same period
in 2011.
Gross profit for the full fiscal year 2012 was $83.3 million,
representing a 54% increase compared to gross profit for the full fiscal
year 2011, based on gross revenue.2 Gross margin for the full
fiscal year 2012 was 70.7%. On a non-GAAP basis, gross margin for the
full fiscal year 2012 was 73.2%.1
The Company’s net loss for the fourth quarter of 2012 was $7.4 million,
or $0.15 net loss per share. Non-GAAP net loss for the fourth quarter of
2012 was $2.9 million, or $0.06 net loss per share. Net loss for the
full fiscal year 2012 was $31.4 million, or $0.63 net loss per share.
Non-GAAP net loss for the full fiscal year 2012 was $16.0 million, or
$0.32 net loss per share. Non-GAAP net loss is based on non-GAAP revenue
and excludes, for the periods in which they are present, stock-based
compensation and employer-related payroll taxes, amortization of
intangible assets, acquisition costs, amortization of debt discount and
issuance costs, early debt retirement expense, change in the fair value
of preferred stock warrant liabilities, adjustments to taxes related to
acquisition adjustments, and accretion related to preferred stock.1
During the fourth quarter of 2012, net cash provided by operating
activities was $14.1 million as compared to $4.9 million in the same
period in 2011. For the full fiscal year 2012, net cash provided by
operating activities was $10.3 million as compared to $1.8 million for
the full fiscal year 2011. At December 31, 2012, the Company’s total
cash and cash equivalents were $76.4 million and accounts receivable
were $47.5 million, yielding a total of approximately $124.0 million.
The Company ended the quarter with over 1,200 clients and over 10.5
million users, representing 53% and 41% year-over-year growth of the
Company’s client base and users, respectively.3
1
Non-GAAP revenue, bookings, non-GAAP net cash provided by operating
activities, non-GAAP net loss, non-GAAP net loss per share, non-GAAP
gross profit, and non-GAAP gross margin are non-GAAP financial
measures. Please see the discussion in the section “Non-GAAP
Financial Measures” and the reconciliations at the end of this
release. Due to purchase accounting rules applicable to the
acquisition of Sonar Limited we completed during the second quarter
of 2012, the Company recorded an adjustment of $1.6 million to
reduce to fair value the balance of deferred revenue attributable to
contracts assumed from Sonar Limited. This fair value adjustment has
the impact of reducing the amount of revenue attributable to
contracts assumed from Sonar Limited by $0.3 million for the quarter
ended December 31, 2012 and $1.4 million for the full fiscal year
2012. Our non-GAAP revenue calculation adds back these fair value
adjustments.
2
Comparative year-over-year changes of revenue or gross profit uses
gross revenue for the full fiscal year 2011. Gross revenue for the
full fiscal year 2011 excludes the impact of a non-cash reduction of
revenue related to a common stock warrant issued to ADP of $2.5
million. Net revenue and net loss for the full fiscal year 2011 was
impacted by this non-cash reduction of revenue.
3
Includes contracted clients and active users of any combination of
our cloud-based solutions, excluding Cornerstone Small Business
Solution, or “CSB”.
Quarterly Conference Call
Cornerstone OnDemand will host a conference call to discuss its fourth
quarter and fiscal year 2012 results at 2:00 p.m. PST (5:00 p.m. ET)
today. A live audio webcast of the conference call, together with
detailed financial information, can be accessed through the company’s
Investor Relations Web site at http://investors.cornerstoneondemand.com/events.cfm.
The live call can be accessed by dialing (888) 357-3694 (U.S.) or
(973) 890-8276 (outside the U.S.) and referencing passcode: 92587407. A
replay of the call will also be available at http://investors.cornerstoneondemand.com/events.cfm
or via telephone until 11:59 p.m. PST on February 16, 2013 by dialing
(855) 859-2056 (U.S.) or (404) 537-3406 (outside the U.S.), and
referencing passcode: 92587407.
About Cornerstone OnDemand
Cornerstone OnDemand, Inc. is a leading global provider of comprehensive
learning and talent management solutions. We enable organizations to
meet the challenges they face in empowering their people and maximizing
the productivity of their human capital. Our integrated
software-as-a-service (SaaS) solution consists of the Cornerstone
Recruiting Cloud, the Cornerstone Performance Cloud, the Cornerstone
Learning Cloud and the Cornerstone Extended Enterprise Cloud. Our
clients use our solution to source and recruit top talent, develop
employees throughout their careers, engage employees effectively,
improve business execution, cultivate future leaders, and integrate with
their external networks of customers, vendors and distributors. We
currently empower more than 10.5 million users across 189 countries and
in 38 languages. www.csod.com
Note: Cornerstone® and Cornerstone OnDemand® are
registered trademarks of Cornerstone OnDemand Inc.
Forward-looking Statements
This release contains forward-looking statements, including statements
regarding Cornerstone OnDemand’s future financial performance, market
growth, the demand for and benefits from the use of Cornerstone
OnDemand’s solutions, and general business conditions. Any
forward-looking statements contained in this press release are based
upon Cornerstone OnDemand’s historical performance and its current
plans, estimates and expectations and are not a representation that such
plans, estimates, or expectations will be achieved. These
forward-looking statements represent Cornerstone OnDemand’s expectations
as of the date of this press release. Subsequent events may cause these
expectations to change, and Cornerstone OnDemand disclaims any
obligation to update the forward-looking statements in the future. These
forward-looking statements are subject to known and unknown risks and
uncertainties that may cause actual results to differ materially from
Cornerstone OnDemand’s current expectations. Important factors that
could cause actual results to differ materially from those anticipated
in our forward-looking statements include, but are not limited to, our
ability to attract new clients; the extent to which clients renew their
subscriptions for our solution; our ability to compete as the talent
management provider for organizations of all sizes; changes in the
proportion of our client base that is comprised of enterprise or
mid-sized organizations; our ability to manage our growth, including
additional headcount and entry into new geographies; the timing and
success of solutions offered by our competitors; unpredictable
macro-economic conditions; reductions in information technology
spending; the success of our new product and service introductions; a
disruption in our hosting network infrastructure; costs and reputational
harm that could result from defects in our solution; the success of our
strategic relationships with third parties; the loss of any of our key
employees; increased demands on our infrastructure and costs associated
with operating as a public company; failure to protect our intellectual
property; acts of terrorism or other vandalism, war or natural
disasters; changes in current tax or accounting rules; unanticipated
costs or liabilities related to businesses that we acquire; and other
risks and uncertainties. Further information on factors that could cause
actual results to differ materially from the results anticipated by our
forward-looking statements is included in Cornerstone OnDemand’s reports
filed with the SEC, including its Form 10-Q filed with the SEC on
November 14, 2012.
Non-GAAP Financial Measures
To supplement its consolidated financial statements, which are prepared
and presented in accordance with GAAP, Cornerstone OnDemand has provided
in this release certain measures that have not been prepared in
accordance with GAAP. These non-GAAP financial measures include
(i) non-GAAP revenue, which is defined as gross revenue plus revenue not
recognized in the period due to the impact of purchase accounting rules
on deferred revenue acquired through acquisitions, (ii) bookings, which
are defined as gross revenue plus the change in deferred revenue for the
period, (iii) non-GAAP net cash provided by operating activities, which
excludes acquisition and acquisition-related costs and employer-related
taxes from stock-based compensation, (iv) non-GAAP net loss and non-GAAP
net loss per share, which are based on non-GAAP revenue and exclude, for
the periods in which they are present, stock-based compensation and
employer-related payroll taxes, amortization of intangible assets,
acquisition costs, adjustments to taxes related to acquisition
adjustments, amortization of debt discount and issuance costs, early
debt retirement expense, change in the fair value of preferred stock
warrant liabilities, and accretion related to preferred stock, and
(v) non-GAAP gross profit and non-GAAP gross margin, which are
calculated based on non-GAAP revenue and exclude stock-based
compensation and amortization of certain intangible assets reflected in
cost of revenue.
Cornerstone OnDemand’s management uses these non-GAAP financial measures
internally in analyzing its financial results and believes they are
useful to investors, as a supplement to the corresponding GAAP measures,
in evaluating Cornerstone OnDemand’s ongoing operational performance and
trends and in comparing its financial measures with other companies in
the same industry, many of which present similar non-GAAP financial
measures to help investors understand the operational performance of
their businesses. However, it is important to note that the particular
items Cornerstone excludes from, or includes in, its non-GAAP financial
measures may differ from the items excluded from, or included in,
similar non-GAAP financial measures used by other companies in the same
industry.
Non-GAAP financial measures should not be considered in isolation from,
or as a substitute for, financial information prepared in accordance
with GAAP. Investors are encouraged to review the reconciliation of
these non-GAAP measures to their most directly comparable GAAP financial
measures. A reconciliation of the non-GAAP financial measures to such
GAAP measures has been provided in the tables included as part of this
press release.
Cornerstone OnDemand, Inc.
CONSOLIDATED BALANCE SHEETS
(in thousands)
December 31, 2012
December 31, 2011
Assets
Cash and cash equivalents
$
76,442
$
85,409
Accounts receivable, net
47,528
34,110
Deferred commissions
9,354
3,537
Prepaid expenses and other current assets, net
8,249
3,789
Total current assets
141,573
126,845
Capitalized software development, net
7,007
4,106
Property and equipment, net
7,947
3,663
Intangible assets, net
6,887
609
Goodwill
8,193
-
Other assets, net
227
139
Total Assets
$
171,834
$
135,362
Liabilities and Stockholders' Equity
Liabilities
Accounts payable
$
4,849
$
3,834
Accrued expenses
14,986
8,039
Deferred revenue, current portion
87,759
52,338
Capital lease obligations, current portion
1,643
1,617
Debt, current portion
916
265
Other liabilities
3,885
996
Total current liabilities
114,038
67,089
Other liabilities, non-current
3,592
806
Deferred revenue, net of current portion
4,493
3,542
Capital lease obligations, net of current portion
1,227
1,056
Long-term debt, net of current portion
1,836
409
Total liabilities
125,186
72,902
Stockholders' Equity
Common stock
5
5
Additional paid-in capital
242,767
226,916
Accumulated deficit
(196,041
)
(164,651
)
Accumulated other comprehensive (loss) income
(83
)
190
Total stockholders’ equity
46,648
62,460
Total Liabilities and Stockholders' Equity
$
171,834
$
135,362
Cornerstone OnDemand, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Three Months Ended
December 31,
Year Ended
December 31,
2012
2011
2012
2011
Gross revenue
$
36,426
$
22,386
$
117,914
$
75,522
Common stock warrant charge 1
-
-
-
(2,500
)
Net revenue
36,426
22,386
117,914
73,022
Cost of revenue 2, 3
10,722
6,382
34,591
21,285
Gross profit
25,704
16,004
83,323
51,737
Operating expenses:
Sales and marketing 2
21,280
13,529
73,563
45,773
Research and development 2
4,261
2,541
14,886
10,149
General and administrative 2
7,566
4,545
25,912
15,122
Amortization of certain acquired intangible assets
251
-
739
-
Total operating expenses
33,358
20,615
115,100
71,044
Loss from operations
(7,654
)
(4,611
)
(31,777
)
(19,307
)
Other income (expense):
Interest income
-
5
-
20
Interest expense
(84
)
(105
)
(442
)
(902
)
Change in fair value of preferred stock warrant liabilities
-
-
-
(42,559
)
Withdrawn secondary offering expense
-
-
-
(555
)
Other, net
82
(196
)
40
(416
)
Other income (expense), net
(2
)
(296
)
(402
)
(44,412
)
Loss before income tax benefit (provision)
(7,656
)
(4,907
)
(32,179
)
(63,719
)
Income tax benefit (provision)
239
(49
)
789
(181
)
Net loss
(7,417
)
(4,956
)
(31,390
)
(63,900
)
Accretion of redeemable preferred stock
-
-
-
(5,208
)
Net loss attributable to common stockholders
$
(7,417
)
$
(4,956
)
$
(31,390
)
$
(69,108
)
Net loss per share attributable to common stockholders, basic and
diluted
$
(0.15
)
$
(0.10
)
$
(0.63
)
$
(1.74
)
Weighted-average common shares outstanding, basic and diluted
50,486
48,597
49,929
39,824
1
During the second quarter of 2011, we recorded a $2.5 million
reduction of revenue associated with a common stock warrant to ADP.
2
Includes stock-based compensation and employer-related taxes as
follows:
Three Months Ended
December 31,
Year Ended
December 31,
2012
2011
2012
2011
Cost of revenue
$
356
$
421
$
1,669
$
597
Sales and marketing
1,800
597
4,101
1,422
Research and development
354
152
982
765
General and administrative
1,494
702
5,652
2,047
Total
$
4,004
$
1,872
$
12,404
$
4,831
3
Cost of revenue includes amortization of intangible assets as
follows:
Three Months Ended
December 31,
Year Ended
December 31,
2012
2011
2012
2011
Cost of revenue
$
305
$
32
$
964
$
128
Cornerstone OnDemand, Inc.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
Three Months Ended
Year Ended
December 31,
December 31,
2012
2011
2012
2011
Cash flows from operating activities:
Net loss
$
(7,417
)
$
(4,956
)
$
(31,390
)
$
(63,900
)
Adjustments to reconcile net loss to net cash provided by operating
activities:
Depreciation and amortization
2,098
1,019
7,037
3,714
Non-cash interest expense
37
61
143
579
Change in fair value of preferred stock warrant liabilities
-
-
-
42,559
Charges related to the issuance of common stock warrant
-
-
-
2,500
Unrealized foreign exchange (gain) loss
(145
)
202
(182
)
460
Stock-based compensation expense
3,909
1,543
12,206
4,502
Deferred income taxes
(398
)
-
(1,050
)
-
Withdrawn secondary offering expense
-
-
-
555
Non-cash charitable contribution of common stock
-
-
-
193
Changes in operating assets and liabilities, net of effects from
acquisition:
Accounts receivable
(2,196
)
(11,111
)
(12,254
)
(13,308
)
Deferred commissions
(5,119
)
(728
)
(5,691
)
(1,274
)
Prepaid expenses and other assets
(780
)
(272
)
(4,188
)
(1,804
)
Accounts payable
(1,466
)
566
190
915
Accrued expenses
5,201
1,535
6,325
3,314
Deferred revenue
19,584
16,076
35,327
22,161
Other liabilities
780
937
3,822
666
Net cash provided by operating activities
14,088
4,872
10,295
1,832
Cash flows from investing activities:
Purchases of property and equipment
(1,776
)
-
(2,123
)
(784
)
Capitalized software costs
(1,368
)
(741
)
(5,030
)
(3,022
)
Purchase of available-for-sale securities
-
-
-
(34,079
)
Proceeds from maturities of available-for-sale securities
-
17,000
-
34,000
Cash paid for acquisition, net of cash acquired
-
-
(12,428
)
-
Net cash (used in) provided by investing activities
(3,144
)
16,259
(19,581
)
(3,885
)
Cash flows from financing activities:
Proceeds from initial public offering, net of underwriting discounts
and commissions
-
-
-
90,539
Proceeds from issuance of preferred stock upon warrant exercises
-
-
-
3,163
Proceeds from issuance of debt
1,043
-
1,043
669
Payments of initial public offering costs
-
-
-
(3,436
)
Payments of withdrawn secondary offering costs
-
-
-
(555
)
Repayment of debt
(260
)
(56
)
(1,510
)
(9,207
)
Principal payments under capital lease obligations
(523
)
(818
)
(1,919
)
(1,977
)
Payments of withholding tax on net exercise of stock-based awards
-
-
-
(48
)
Proceeds from stock option and warrant exercises
714
876
2,697
1,491
Net cash provided by financing activities
974
2
311
80,639
Effect of exchange rate changes on cash and cash equivalents
32
(99
)
8
(244
)
Net increase (decrease) in cash and cash equivalents
11,950
21,034
(8,967
)
78,342
Cash and cash equivalents at beginning of period
64,492
64,375
85,409
7,067
Cash and cash equivalents at end of period
$
76,442
$
85,409
$
76,442
$
85,409
Cornerstone OnDemand, Inc.
RECONCILIATIONS OF REVENUE TO NON-GAAP REVENUE AND GROSS MARGIN
TO NON-GAAP GROSS MARGIN
(dollars in thousands)
(unaudited)
Three Months Ended December 31,
Year Ended December 31,
2012
2011
2012
2011
Gross revenue
$
36,426
$
22,386
$
117,914
$
75,522
Common stock warrant charge 1
-
-
-
(2,500
)
Net revenue
36,426
22,386
117,914
73,022
Cost of revenue
10,722
6,382
34,591
21,285
Gross profit
$
25,704
$
16,004
$
83,323
$
51,737
Gross margin
70.6
%
71.5
%
70.7
%
70.9
%
Net revenue
$
36,426
$
22,386
$
117,914
$
73,022
Adjustments to net revenue
Common stock warrant charge 1
-
-
-
2,500
Adjustments to revenue 2
293
-
1,440
-
Total adjustments to net revenue
293
-
1,440
2,500
Non-GAAP revenue
$
36,719
$
22,386
$
119,354
$
75,522
Cost of revenue
$
10,722
$
6,382
$
34,591
$
21,285
Adjustments to costs of revenue
Amortization of intangible assets
(305
)
(32
)
(964
)
(128
)
Stock based compensation and employer-related taxes
(356
)
(421
)
(1,669
)
(597
)
Total adjustments to cost of revenue
(661
)
(453
)
(2,633
)
(725
)
Non-GAAP costs of revenue
10,061
5,929
31,958
20,560
Non-GAAP gross profit
$
26,658
$
16,457
$
87,396
$
54,962
Non-GAAP gross margin
72.6
%
73.5
%
73.2
%
72.8
%
1
During the second quarter of 2011, we recorded a $2.5 million
reduction of revenue associated with a common stock warrant to ADP.
2
Due to purchase accounting rules, upon acquisition, Cornerstone
recorded an adjustment of $1.6 million to reduce the balance of
deferred revenue related to the assumed client contracts acquired
from Sonar Limited. As a result of this adjustment, $0.3 million and
$1.4 million of revenue was not recognized during the three and
twelve months ended December 31, 2012, respectively. Therefore,
revenue is adjusted by an increase of $0.3 million and $1.4 million
to arrive at non-GAAP revenue for the three and twelve months ended
December 31, 2012, respectively.
Cornerstone OnDemand, Inc.
RECONCILIATIONS OF NET LOSS TO NON-GAAP NET LOSS AND NON-GAAP NET
LOSS PER SHARE
(in thousands, except per share amounts)
(unaudited)
Three Months Ended December 31,
Year Ended December 31,
2012
2011
2012
2011
Net loss
$
(7,417
)
$
(4,956
)
$
(31,390
)
$
(63,900
)
Adjustments to net loss
Common stock warrant charge
-
-
-
2,500
Stock-based compensation and employer-related payroll taxes
4,004
1,872
12,404
4,831
Acquisition related:
Adjustments to revenue 1
293
-
1,440
-
Amortization of intangible assets
492
-
1,446
-
Acquisition costs
-
-
747
-
Adjustments to benefit (provision) for income taxes 2
(302
)
-
(964
)
-
Change in fair value of preferred stock warrant liabilities
-
-
-
42,559
Withdrawn secondary offering expense
-
-
-
555
Other amortization costs and other expenses
64
70
358
748
Total adjustments to net loss
4,551
1,942
15,431
51,193
Non-GAAP net loss
$
(2,866
)
$
(3,014
)
$
(15,959
)
$
(12,707
)
Weighted-average common shares outstanding, basic and diluted
50,486
48,597
49,929
39,824
Non-GAAP net loss per share
$
(0.06
)
$
(0.06
)
$
(0.32
)
$
(0.32
)
1
As of December 31, 2012, approximately $0.3 million and $1.4 million
in estimated revenues were not recognized during the three and
twelve months ended December 31, 2012, respectively, due to purchase
accounting rules.
2
Income tax effects related to acquisition related adjustments.
Cornerstone OnDemand, Inc.
CALCULATIONS OF BOOKINGS (DEFINED AS GROSS REVENUE PLUS CHANGE IN
DEFERRED REVENUE)
(dollars in thousands)
(unaudited)
Deferred Revenue Balance
Three Months Ended December 31, 2012
Gross revenue
$
36,426
Deferred revenue at September 30, 2012
$
72,622
Deferred revenue at December 31, 2012
92,252
Change in deferred revenue
19,630
19,630
Bookings
$
56,056
Deferred Revenue Balance
Three Months Ended December 31, 2011
Gross revenue
$
22,386
Deferred revenue at September 30, 2011
$
39,875
Deferred revenue at December 31, 2011
55,880
Change in deferred revenue
16,005
16,005
Bookings
$
38,391
Percentage period-over-period increase in bookings for the three
months ended December 31, 2012
46
%
Deferred Revenue Balance
Year Ended December 31, 2012
Gross revenue
$
117,914
Deferred revenue at December 31, 2011
$
55,880
Deferred revenue at December 31, 2012
92,252
Change in deferred revenue
36,372
36,372
Bookings
$
154,286
Deferred Revenue Balance
Year Ended December 31, 2011
Gross revenue
$
75,522
Deferred revenue at December 31, 2010
$
33,818
Deferred revenue at December 31, 2011
55,880
Change in deferred revenue
22,062
22,062
Bookings
$
97,584
Percentage period-over-period increase in bookings for the year
ended December 31, 2012
58
%
Cornerstone OnDemand, Inc.
RECONCILIATIONS OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO
NON-GAAP NET CASH PROVIDED BY OPERATING
ACTIVITIES
(in thousands)
(unaudited)
Three Months Ended December 31,
Year Ended December 31,
2012
2011
2012
2011
Net cash provided by operating activities
$
14,088
$
4,872
$
10,295
$
1,832
Payment of acquisition related costs
-
-
747
-
Payment of employer related taxes from stock-based compensation
95
329
198
329
Non-GAAP net cash provided by operating activities
$
14,183
$
5,201
$
11,240
$
2,161
Net cash (used in) provided by investing activities 1
$
(3,144
)
$
16,259
$
(19,581
)
$
(3,885
)
Net cash provided by financing activities
$
974
$
2
$
311
$
80,639
1
Includes purchases of property and equipment and capitalized
software development costs.
n the cloud doesn't matter whether you are running on an Open Source platform or not - it is NOT free because you pay for the service. And for long Open Source project have been funded through the services premiums that you pay. I would argue that Open Source vendors have mastered the ...
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n the cloud doesn't matter whether you are running on an Open Source platform or not - it is NOT free because you pay for the service. And for long Open Source project have been funded through the services premiums that you pay. I would argue that Open Source vendors have mastered the ...
Over the weekend Barron’s put out a piece touting AMD’s chances of taking share in the mainstream server market that belongs to Intel with its SeaMicro microserver acquisition, a development that would tickle its tiny stock price, if it ever happened. But even the thought of it, althou...
Cloud computing is the game changer for the life sciences industry, according to an article on PharmaBiz.com.
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Red Hat made its power play Wednesday. One it’s been itching to make for a couple of years. One that it hopes will ultimately jam a stick through the spokes of VMware’s front wheel. And to make sure that happens it’ll be telling everybody who’ll listen that its widgetry is a third the ...
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It has no patience with pilots or proofs-of-concept. It’ll only do production Infrastructure-as-a-Service installations, which is kind of uppity for a start-up that only hit the radar last October – even if it did come out of the closet with an unidentified ...
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