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Cornerstone OnDemand Q1 loss narrows YOY

Cornerstone OnDemand Inc. said its normalized net income for the first quarter was a loss of 20 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 9 cents per share.

The per-share loss decreased 24.3% year over year from 27 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $11.1 million, compared with a loss of $14.4 million in the prior-year period.

The normalized profit margin increased to negative 11.1% from negative 19.4% in the year-earlier period.

Total revenue rose 34.3% year over year to $99.3 million from $74.0 million, and total operating expenses grew 26.6% from the prior-year period to $116.0 million from $91.6 million.

Reported net income came to a loss of $18.2 million, or a loss of 33 cents per share, compared to a loss of $23.3 million, or a loss of 43 cents per share, in the prior-year period.