August 13, 2012 – Talent management software provider Cornerstone OnDemand Inc. has posted gross revenue for the second quarter of 2012 of $26.7 million, representing a 54 percent year-over-year increase compared to the same period in 2011. Bookings, which Cornerstone defines as gross revenue plus the change in deferred revenue for the period, were $31.5 million for the second quarter of 2012, representing a 51 percent increase compared to last year. Cornerstone's net loss for the second quarter of 2012 was $8.2 million, or $0.17 loss per share, compared to a net loss of $7.1 million, or $0.15 loss per share, for the second quarter of 2011. During the quarter Cornerstone closed the acquisition of Sonar Limited, a provider of cloud-based talent management solutions. “Cornerstone's momentum continued unabated through the first half of 2012, and we are investing in expanding our worldwide sales coverage to meet global demand while remaining fully committed to our clients' success,” said Adam Miller, Cornerstone's president and CEO.
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