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.