Hashicorp, Inc. Stock Price, News & Analysis

HashiCorp, a leader in multi-cloud infrastructure automation, reported strong financial results for the fourth quarter and fiscal year 2023. Revenue for Q4 reached $135.8 million, up 41% YoY, while total revenue for fiscal 2023 hit $475.9 million, a 48% increase YoY. The GAAP gross margin improved to 83%, with total GAAP RPO increasing to $647.1 million, a 51% YoY rise. Despite a GAAP operating loss of $62.9 million, net losses showed significant improvement year-over-year. The company forecasts Q1 2024 revenue between $132 and $134 million, continuing its growth trajectory.

HashiCorp, Inc. (NASDAQ: HCP) announced it will release its financial results for the fourth quarter and full fiscal year 2023 on March 9, 2023, after the market closes. The conference call to discuss these results will occur on the same day at 2 p.m. PST. Investors can register for the call via an online form, after which they will receive the dial-in number and a unique PIN. HashiCorp specializes in multi-cloud infrastructure automation software, offering products like Terraform, Vault, and Consul. These products enable organizations to automate cloud infrastructure provisioning, security, and application deployment.

PowerSchool has appointed Paul Brook as the new Chief Customer Officer, effective February 1, 2023. With over 25 years of experience in customer success for software companies, Brook aims to enhance PowerSchool's services and support teams as the company expands its market share in the U.S. and internationally. Brook has held leadership positions at HashiCorp and Oracle, where he managed large customer support teams. His appointment is expected to strengthen the company's customer-first culture and improve service capabilities for over 15,000 customers and 45 million students globally.

HashiCorp reported a strong Q3 2023, with revenues of $125.3 million, a 52% year-over-year increase. The company’s GAAP RPO was $531.8 million, up 52% year-over-year, while total non-GAAP RPO rose to $553.4 million, a 50% increase. However, the GAAP operating loss widened to $77.3 million from $21.5 million a year prior, and the net loss stood at $72.0 million. Despite these losses, the trailing four-quarter net dollar retention rate improved to 134%. Aiming for $463-$465 million in total revenue for FY 2023, the company remains focused on robust product investments.

HashiCorp has been awarded the Security Partner of the Year Award for North America during the AWS re:Invent 2022 event. This recognition honors partners aiding customers in innovation on Amazon Web Services (AWS). HashiCorp's products, including Vault, Consul, and Boundary, focus on a zero trust security model, enhancing security across cloud infrastructure. The award emphasizes HashiCorp's leadership in identity-based access solutions. The company continues to collaborate with AWS, aiming to support secure cloud adoption.

HashiCorp, Inc. (NASDAQ: HCP) announced an expanded adoption of HashiCorp Terraform by Nasdaq, enhancing their infrastructure automation capabilities.

Nasdaq has utilized Terraform for nearly a decade to accelerate technology innovation across its cloud services. The adoption of Terraform Enterprise is seen as a strategic investment by Nasdaq.

HashiCorp Terraform is recognized as the standard for infrastructure as code, boasting hundreds of millions of downloads and partnerships with over 200 technology partners.

HashiCorp, Inc. (NASDAQ: HCP) announced it will release its financial results for Q3 FY 2023, ending October 31, 2022, after market close on December 7, 2022. A conference call will follow at 2 p.m. PST to discuss the results and financial guidance. Investors can register online to participate and access a replay on HashiCorp’s investor relations site post-call. The company is recognized for its expertise in multi-cloud infrastructure automation software, aiding organizations in streamlined cloud workflows and infrastructure management.

HashiCorp (NASDAQ: HCP) has announced a strategic collaboration with Intel aimed at enhancing cloud migration processes. The partnership integrates HashiCorp Terraform with Intel's Xeon processors, focusing on improving operational efficiency and easing migration challenges faced by organizations. As part of this initiative, Intel will invest in a new offering that includes a Terraform license, tailored Sentinel policies, and migration services via a global ecosystem of partners. This new cloud migration offering will be available in early 2023 through major cloud marketplaces.

HashiCorp has launched HCP Boundary, adding to its security portfolio aimed at cloud infrastructure platform teams. This secure remote access solution is part of the HashiCorp Cloud Platform, alongside Vault and Consul, enabling a zero trust security framework. As organizations transition to cloud environments, 89% of companies identified security as a critical factor for success, prompting the need for innovative solutions. HCP Boundary offers advanced security features, including role-based access control and passwordless authentication, enhancing security during the cloud transition.