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Cornerstone OnDemand (NASDAQ: CSOD) has nominated Sara Martinez Tucker for election to its Board of Directors at the annual stockholder meeting on June 8, 2021. Tucker brings over 30 years of leadership experience in technology, education, and government, including her recent role as CEO of the National Math + Science Initiative. Her expertise is expected to aid Cornerstone's growth and innovation. In conjunction with this appointment, directors Elisa Steele and Kristina Salen will not seek re-election, leaving the board with 10 members.
Cornerstone OnDemand (NASDAQ: CSOD) is set to release its financial results for Q1 2021 after market close on May 6, 2021. The company will conduct a conference call at 2 p.m. PT to discuss these results. Investors can find dial-in information and a live webcast on Cornerstone’s investor relations website. An audio replay of the call will also be available for three days post-conference.
Cornerstone OnDemand (NASDAQ: CSOD) announces key leadership changes to enhance strategic growth and innovation. Heidi Spirgi transitions to Chief Strategy and Growth Officer, focusing on upskilling and content delivery. Theresa Damato becomes Chief Marketing Officer to enhance market presence for 6,000 global customers. Vincent Belliveau is appointed Chief International Officer to improve global efficiency. These roles aim to better serve customer needs and leverage executive talent, reflecting a commitment to long-term success.
Cornerstone OnDemand, Inc. (NASDAQ: CSOD) reported a 38.3% increase in fourth-quarter revenue, totaling $206.9 million, with subscription revenue rising 39.6% to $197.9 million. However, it recorded an operational loss of $4.8 million. For fiscal year 2020, total revenue increased by 28.5% to $740.9 million. Non-GAAP net income for Q4 was $44.0 million, yielding a diluted EPS of $0.64. The first quarter 2021 outlook projects revenue between $203.0 million and $205.0 million. The company has appointed a new CFO and launched an AI innovation lab.
Cornerstone OnDemand, Inc. (NASDAQ: CSOD) has been named one of the first Learning Management Software partners for Microsoft's new Employee Experience Platform, Microsoft Viva. The integration will allow users to access Cornerstone's learning content within the Microsoft Teams environment, enhancing the learning experience. Recent data reveals a 100% uptick in mobile learning usage amid increased employee demand for flexible learning options. This collaboration positions Cornerstone to support millions in skill development, leveraging insights from over 75 million users.
Cornerstone OnDemand, Inc. (NASDAQ: CSOD) will release its fourth quarter and fiscal year 2020 financial results on February 16, 2021, after market close. A conference call to discuss these results is scheduled for 2 p.m. PT (5 p.m. ET) the same day. Investors can access the call through the company's events page, and an audio replay will be available for three days post-call. Cornerstone provides comprehensive people development solutions, serving over 6,000 customers and 75 million users across 180 countries.
Cornerstone OnDemand (NASDAQ: CSOD) has appointed Chirag Shah as Chief Financial Officer (CFO) effective February 1, 2021. Shah brings over 10 years of experience at Cornerstone, where he previously led corporate strategic planning, budgeting, and expansion initiatives in the Asia-Pacific region. He has played a key role in the company's IPO and corporate acquisitions. Interim CFO Trish Coughlin will transition responsibilities to Shah while continuing as Chief Accounting Officer. The company plans to discuss Shah's appointment during its earnings call on February 16, 2021.
Cornerstone OnDemand (NASDAQ: CSOD) announced the addition of Felicia Alvaro and Nancy Altobello to its Board of Directors, effective Dec. 16, 2020. Alvaro, the ex-CFO of Ultimate Software, brings extensive finance and leadership expertise, notably overseeing significant growth during her tenure. Altobello, formerly Global Vice Chair of Talent at Ernst & Young, adds more than 30 years of experience in audit and talent management. Their appointments come as Cornerstone integrates Saba Software, aiming to strengthen its business and drive future growth.
Cornerstone OnDemand (CSOD) reported Q3 2020 revenue of $199.5 million, a 37.6% increase year-over-year. Subscription revenue reached $185.6 million, up 35.1% compared to last year. Despite a net loss of $15.8 million (or $(0.25) per share), non-GAAP net income was $35.3 million ($0.51 per share). Unlevered free cash flow was $55.9 million, a margin of 28.0%, reflecting strong operational efficiency. The company provided Q4 guidance with revenue expected between $194.0 million and $197.0 million, signaling continued growth.
