Data analytics provider Cloudera Inc. today posted better-than-expected second-quarter results, disclosing a 10% revenue jump and adjusted earnings per share that topped analyst estimates for the fourth time in a row. 

The company in conjunction announced a number of changes to its senior leadership team. Chief Product Officer Arun Murthy is leaving Cloudera, while Chief Financial Officer Jim Frankola is stepping down and will move to the newly created role of strategic adviser. Kevin Cook, Cloudera’s current vice president of finance, has been appointed to succeed Frankola as CFO.

In a departure from previous earnings reports, Cloudera didn’t release financial guidance for the next quarter alongside the current quarter’s results. That’s because Cloudera is soon set to become a private company and will no longer have to disclose earnings data publicly.

Cloudera is being taken off the New York Stock Exchange by private equity firms KKR and CD&R in a deal worth $5.3 billion. The acquisition was announced in June. Today, Cloudera said the transaction has been approved by its shareholders and is now on track to be completed by the year’s end. 

It’s believed that Cloudera may make certain changes to its product strategy under the ownership of KKR and CD&R. Specifically, the company is expected to invest more heavily in expanding its software-as-a-service capabilities. Cloudera has already started moving in that direction: The company announced the purchase of two SaaS startups the same day its acquisition by KKR and CD&R was made public.

Cloudera wrapped up its second fiscal quarter ended July 31 with revenue of $236.1 million, 10% higher than the company’s sales a year earlier and about 4% better than what analysts polled by Zacks were expecting. Most of the company’s revenue came from its subscription-based data management and analytics products, which generated sales of $213.3 million. Compared with last year, subscription revenue rose 11%, which helped lift Cloudera’s annualized recurring revenue by 13%, to $832 million.

“Excellent fiscal second-quarter performance, including strong ARR growth, was driven by continued adoption of our CDP hybrid and multicloud solution-set,” said Cloudera Chief Executive Officer Rob Bearden.

CDP is the product suite that encompasses Cloudera’s flagship data management and analytics solutions. The solutions help companies to collect business records from their internal systems, centralize them in one place, analyze the data for useful insights and build machine learning models. CDP also includes an array of tools for performing the complex data preparations that have to be carried out before a company’s business information can be used in analytics and machine learning projects.

On the day Cloudera’s sale to KKR and CD&R was made public, the company announced two acquisitions that will expand its product portfolio to yet more data processing tasks.

The first startup Cloudera bought was Cazena Inc., which had raised funding from investors such as Andreessen Horowitz. Cazena added a SaaS product to Cloudera’s portfolio that makes it easier to set up cloud-based data lakes. The other acquisition was Datacoral Inc., whose SaaS platform helps enterprises pull data into their analysis tools.

Lifted by the 10% sales increase Cloudera logged during the second quarter, the company’s adjusted earnings per share vaulted past the Zacks consensus estimate of eight cents to reach 15 cents. The earnings surprise was the result of a significant increase in adjusted income from operations, which totaled $44.5 million at the end of the second quarter versus $29.8 million a year earlier.

Cloudera has surpassed the Zacks earnings per share in each of the past four quarters. 

Image: Cloudera