Hortonworks Has Been Destroyed

I once met a programmer who worked here. His stock options are, without question, deeply underwater.

The problem with these fast growing tech companies is they’re unable to make money. If you gave me $1billion, I guarantee you I could generate $2 billion in revenues, while burning through the cash in a glorious ball of Silicon Valley fuckery.

The CEO is departing as well. Go team!

• Reports Q2 (Jun) loss of $0.72 per share, $0.04 worse than the Capital IQ Consensus of ($0.68); revenues rose 45.7% year/year to $43.64 mln vs the $45.24 mln Capital IQ Consensus.
• Operating billings, the aggregate value of all invoices sent to our customers in a given period, were $62.2 million for the second quarter of 2016, an increase of 49 percent compared to the second quarter of 2015.
• Deferred revenue was $131.8 million for the second quarter of 2016, a 23 percent increase over the $106.8 million reported as of December 31, 2015 and a 64 percent increase over the $80.6 millionreported as of June 30, 2015.
• Co issues guidance for Q3, sees Q3 GAAP revs of ~$45 mln, may not be comparable to $49.30 mln Capital IQ Consensus Estimate, expects operating billings, the aggregate value of all invoices sent to our customers in a given period, to be $68.0 million.
• Co issues guidance for FY16, sees FY16 GAAP revs of $177 mln, may not be comparable to $191.41 mln Capital IQ Consensus Estimate, expects operating billings, the aggregate value of all invoices sent to our customers in a given period, of $265.0 million in 2016 (Unch from prior).

Shares are being treated punitively in the after-hours, collapsing by 25%.