Cornerstone OnDemand Records 64 Percent Q2 Revenue Increase

August 16, 2011 – Talent management software provider Cornerstone OnDemand Inc. has posted gross revenue for the second quarter of 2011 of $17.4 million, representing a 64 percent year-over-year increase compared to the same period in 2010. Bookings, which the company defines as gross revenue plus change in deferred revenue, was $20.9 million for the second quarter, representing a 90 percent year-over-year increase. Cornerstone’s net loss for the second quarter of 2011 was $7.1 million, as compared to net loss of $5.4 million for the same period in 2010. “We are executing in our core markets, with rapid acceleration in our bookings and new client acquisitions, while simultaneously beginning to expand into new markets. And we are capturing global demand for integrated learning and talent management solutions through a growing international ecosystem of direct sales and indirect sales channels,” said Adam Miller, president and CEO.