Cornerstone OnDemand Records Q2 Revenue Spike

August 9, 2013 – Talent management software provider Cornerstone OnDemand Inc. has posted gross revenue for the second quarter of 2013 of $44.3 million, a 66 percent increase compared to $26.7 million recorded during the same period in 2012. Bookings, which the firm defines as gross revenue plus the change in deferred revenue for the period, were $48.9 million for the second quarter of 2013, representing a 55 percent increase compared last year. Cornerstone’s net loss for the quarter was $8.7 million, or $0.17 net loss per share. “In a quarter that saw many software companies come up short, Cornerstone recorded one of its best performances to date,” said Adam Miller, the company’s president and CEO. “With our solution improving, global distribution capabilities expanding, and direct competition weakening, our momentum has continued to build and we are excited about the road ahead.”