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HashiCorp (HCP) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2-min read

HashiCorp, Inc. (HCP) reported $160.58 million in revenue for the quarter ended April 2024, representing a year-over-year increase of 16.4%. EPS of $0.05 for the same period compares to -$0.07 a year ago.

The reported revenue represents a surprise of +4.69% over the Zacks Consensus Estimate of $153.39 million. With the consensus EPS estimate being -$0.01, the EPS surprise was +600.00%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how HashiCorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenue- Professional Services and other: $6.01 million versus the eight-analyst average estimate of $4.83 million.

  • Revenue- Subscription: $154.57 million compared to the $148.51 million average estimate based on eight analysts.

  • Revenue- Cloud-hosted services: $24.59 million versus the five-analyst average estimate of $23 million.

  • Revenue- Support: $113.63 million compared to the $110.13 million average estimate based on four analysts.

  • Revenue- License: $16.35 million versus $15.50 million estimated by four analysts on average.

View all Key Company Metrics for HashiCorp here>>>

Shares of HashiCorp have returned +2.6% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research