HashiCorp beats revenue estimates, narrows losses by Investing.com

SAN FRANCISCO – HashiCorp Inc. (NASDAQ: ) reported better-than-expected revenue for its fiscal second quarter, while posting a narrower year-over-year loss.

The cloud infrastructure company reported a 15% year-over-year increase in revenue to $165.1 million, beating analysts’ estimates of $157.25 million. However, HashiCorp reported a loss of $0.13 per share, falling short of earnings expectations.

“The HashiCorp team delivered another solid performance in Q2 FY25 with revenue growth of 15% year-over-year and customer growth of 10% of $100,000 year-over-year,” said CEO Dave McJannet.

The company’s average net dollar retention rate over the past four quarters was 110% at the end of the second quarter, down from 124% in the year-ago quarter. HashiCorp ended the quarter with 4,709 customers, up from 4,217 a year earlier.

Notably, quarterly subscription revenue from HashiCorp Cloud Platform reached $26.5 million, up from $18.4 million in Q2 of the previous fiscal year.

The company did not provide financial guidance, citing the pending $6.4 billion acquisition by IBM (NYSE: ) announced in April. HashiCorp shareholders approved the merger agreement in July, with the transaction expected to close by the end of 2024, subject to regulatory approvals.

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