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HashiCorp, Inc. (Symbol: HCP) is a pioneering company that revolutionizes datacenter management by providing innovative solutions for application development, delivery, and maintenance. Founded in 2012 by Mitchell Hashimoto and Armon Dadgar, HashiCorp has been at the forefront of transforming traditional datacenters into modern cloud-based systems, easing the transition from physical to virtual environments, and beyond.
Headquartered in San Francisco, HashiCorp operates a largely remote workforce distributed globally. The company's core mission is to solve complex infrastructure challenges associated with cloud adoption by enabling a standardized operating model for both public and private cloud environments. This model facilitates consistent workflows and automates essential processes such as infrastructure provisioning, security management, networking, and application deployment.
HashiCorp's product portfolio includes industry-leading tools such as Terraform for infrastructure as code, Vault for security management, Consul for service networking, and Nomad for workload orchestration. Other notable products include Vagrant, Packer, Boundary, and Waypoint, each offering unique capabilities to support multi-cloud infrastructure automation.
The company has recently expanded its partnerships with industry giants like Google Cloud and AWS. Notably, HashiCorp and Google Cloud have collaborated to integrate AI-powered features using Vertex AI, enhancing automation and streamlining cloud transformations for joint customers. Similarly, HashiCorp's partnership with AWS focuses on developing co-branded solutions and comprehensive Terraform policies to improve customer experiences and compliance with industry standards.
HashiCorp continues to experience significant growth, with over 4,350 enterprise customers globally, including prominent names like Expedia, Vodafone, and Decathlon. The company is also investing in global expansion, with the opening of a new tech hub in Madrid to support its European operations and drive innovation in multi-cloud infrastructure and security management.
Financially, HashiCorp has shown positive outlooks, and the company regularly updates stakeholders through quarterly earnings calls and reports. For the fiscal year 2024, HashiCorp has outlined ambitious growth targets and continues to leverage strategic collaborations to enhance its product suite and customer offerings.
With a robust suite of products and strategic partnerships, HashiCorp is well-positioned to lead the way in cloud infrastructure automation, helping organizations around the world to optimize their multi-cloud and hybrid environments.
HashiCorp (NASDAQ: HCP) reported strong Q3 FY2025 financial results with revenue reaching $173.4 million, up 19% year-over-year. The company achieved a non-GAAP operating income of $11.0 million, compared to a loss of $10.5 million in the same period last year.
Key highlights include: HashiCorp Cloud Platform revenue reached $29.0 million, representing over 17% of total subscription revenue; customer base grew to 4,856, with 946 customers generating over $100,000 in Annual Recurring Revenue. The Net Dollar Retention Rate was 109%, down from 119% year-over-year.
The company is proceeding with its previously announced merger with IBM at $35.00 per share, representing an enterprise value of $6.4 billion, expected to close in Q1 2025.
HashiCorp (NASDAQ: HCP) has been awarded the 2024 AWS Collaboration Partner of the Year - North America. The company's HashiCorp Cloud Platform (HCP) provides Infrastructure and Security Lifecycle Management capabilities for AWS customers. A notable success story includes BT Group, which reduced deployment time from days to 10 minutes using HashiCorp's solutions. The company announced new integrations including public beta of pre-written Sentinel policy sets for AWS and launch-day support for new Amazon services in the Terraform AWS provider. HashiCorp has achieved over 3 billion downloads of the Terraform AWS provider and signed a new five-year strategic collaboration agreement with AWS.
HashiCorp (NASDAQ: HCP) has announced it will release its third quarter fiscal year 2025 financial results on December 5, 2024, after U.S. markets close. The quarter ended October 31, 2024. Due to the pending transaction with IBM, the company will not host an earnings conference call or provide financial outlook.
HashiCorp is hosting HashiConf 2024 in Boston, unveiling new capabilities for its cloud platform and Infrastructure and Security Lifecycle Management offerings. The conference, attended by over 1,400 in-person and 5,000 virtual participants, focuses on scaling platform teams and addressing cloud program challenges.
Key announcements include:
- HCP Terraform Stacks (public beta) for coordinating and managing interdependent Terraform configurations
- HCP Waypoint (generally available) as an internal developer portal
- Nomad GPU enhancements for supporting AI workloads
- HCP Vault Secrets with new lifecycle management features
- HCP Vault Radar (public beta) for secret scanning and prevention
- Boundary transparent sessions (public beta) for secure remote connections
The conference features talks from global enterprises like The Hartford, Canva, Adobe, Skechers USA, Toyota, Clover, Duke Energy, and SAP, showcasing their use of HashiCorp products to improve cloud infrastructure management, security, and scalability.
HashiCorp reported solid financial results for Q2 FY2025, with revenue reaching $165.1 million, a 15% year-over-year increase. The company's Net Dollar Retention Rate was 110%, down from 124% in Q2 FY2024. GAAP RPO totaled $771.5 million, up 13% year-over-year, while non-GAAP RPO reached $793.3 million, a 12% increase. HashiCorp's customer base grew to 4,709, with 934 customers contributing over $100,000 in ARR. The company achieved non-GAAP operating income of $0.7 million, compared to a loss of $35.1 million in the same period last year. HashiCorp's proposed merger with IBM for $35.00 per share in cash is expected to close by the end of 2024, subject to regulatory approvals.
HashiCorp (NASDAQ: HCP), The Infrastructure Cloud™ company, has announced it will release its second quarter fiscal year 2025 financial results on August 29, 2024, after U.S. markets close. The quarter ended on July 31, 2024. Notably, due to the pending transaction with IBM, HashiCorp will not be hosting an earnings conference call or providing a financial outlook. This decision marks a significant departure from typical earnings release practices, likely due to the ongoing acquisition process.
HashiCorp Inc. (NASDAQ: HCP) announced that its stockholders have approved the acquisition by IBM (NYSE: IBM) at a Special Meeting of Stockholders. This marks a significant step towards finalizing the merger between the multi-cloud infrastructure automation company and the tech giant. Dave McJannet, HashiCorp's CEO, expressed satisfaction with this milestone and highlighted the potential for accelerating HashiCorp's mission through the union of two leading technology businesses with complementary visions.
The transaction is expected to close by the end of 2024, pending remaining regulatory approvals and other customary closing conditions. The final voting results will be filed with the U.S. Securities and Exchange Commission as part of a Form 8-K.
HashiCorp, known as The Infrastructure Cloud™ company, published its 2024 State of Cloud Strategy Survey on June 27, 2024. The survey reveals that only 8% of organizations are fully leveraging their cloud investments to achieve significant business benefits through standardized shared services. A major focus of the survey is on cloud maturity, showing that 40% of low-maturity organizations are yet to see returns on their cloud investments. Key findings indicate that highly mature cloud programs, characterized by centralized management and automation, report better productivity, stronger security, and reduced costs. Despite increased cloud spending and a shortage of skilled staff, 67% of highly mature organizations are overcoming these challenges by relying on platform teams. Additionally, 70% of all respondents, and 85% of the highly mature ones, are incorporating AI to enhance cloud infrastructure. The report is based on a Forrester Consulting survey of nearly 1,200 technology practitioners and decision-makers across various industries.
HashiCorp (NASDAQ: HCP) has announced a strategic collaboration agreement with Amazon Web Services (AWS) to enhance infrastructure and security lifecycle management for customers. This five-year agreement builds on their longstanding partnership, focusing on co-innovation and go-to-market initiatives. HashiCorp, recognized as AWS' Security Partner of the Year in 2022 and Global Collaboration Partner in 2023, aims to provide a unified solution for building on AWS through its Terraform tool. The collaboration will develop new customer solutions, comprehensive Terraform policies, and accelerated customer initiatives. The agreement underscores a commitment to innovation and customer success, aiming to mitigate implementation risks and provide a framework for security and compliance.
HashiCorp (NASDAQ: HCP) has announced the expansion of its Cloud Platform (HCP) to Europe, starting with HCP Terraform. This move aims to unify HashiCorp’s products onto a single platform while enhancing its Infrastructure and Security Lifecycle Management solutions.
Key highlights include new functionalities for HCP Vagrant, HCP Vault Radar, and enhancements in HCP Terraform and HCP Packer, among others. Customer success stories from Lloyds Bank and Lufthansa Systems were also showcased at HashiDays events.
Survey data indicates that only 8% of enterprises have high operational maturity in the cloud, and 60% face a shortage of skilled staff. HashiCorp aims to address these issues by providing tools for centralized platform teams and promoting cloud maturity.
The European expansion will be hosted across datacenters in Ireland and Germany, with benefits such as local data residency, improved service performance, and reduced operational costs.
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