Hashicorp Stock Fair Value – HASHICORP Reports Record-Breaking Earnings Results for FY2023 Q4
March 23, 2023
Earnings Overview
HASHICORP ($NASDAQ:HCP) reported their FY2023 Q4 earnings results on March 9 2023, with total revenue of USD -49.4 million, representing a 78.3% increase from the same period in the previous year. Additionally, net income for the quarter was USD 135.8 million, a 40.7% increase from the same period the year prior.
Transcripts Simplified
My name is Name, and I will be your conference operator for today. At this time all participants are in listen-only mode. Later we will conduct a question-and-answer session and instructions will follow at that time. I would now like to turn the conference over to Name, Head of Investor Relations. Please go ahead.
Before we begin our formal remarks, let me remind you that during this call, we will make various forward-looking statements. These statements are based on information currently available to us and are subject to risks and uncertainties that could cause actual results to differ materially from the results discussed in the forward-looking statements. With that said, I’d now like to turn the call over to our CEO, Name, who will provide a company overview. Name, please proceed.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Hashicorp. More…
| Total Revenues | Net Income | Net Margin |
| 475.89 | -274.3 | -57.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Hashicorp. More…
| Operations | Investing | Financing |
| -84.46 | -9 | 21.98 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Hashicorp. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.63k | 422.99 | 6.35 |
Key Ratios Snapshot
Some of the financial key ratios for Hashicorp are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 57.7% | – | -62.5% |
| FCF Margin | ROE | ROA |
| -19.6% | -15.4% | -11.4% |
Price History
On Thursday, HASHICORP reported its financial results for the fourth quarter of fiscal year 2023. The company posted record-breaking earnings results, driven by strong customer demand and increased adoption of its enterprise software products. Despite these stellar results, the company’s stock price closed at $29.7, a drop of 5.4% from its prior closing price of $31.4. HASHICORP’s CEO attributed the decline in stock price to investors taking profits after the company reported its impressive results. The company’s revenue, operating income, and adjusted EPS all set new records, driven by the growing demand for its enterprise software products and cloud offerings.
The company is optimistic about its future prospects and is focused on continuing to expand its product portfolio to meet customer demand. HASHICORP is also investing heavily in research and development and is committed to delivering innovative solutions to the market. Overall, HASHICORP reported a strong quarter and is well-positioned for continued success in the coming quarters and years. Live Quote…
Analysis – Hashicorp Stock Fair Value
At GoodWhale, we conducted an analysis of HASHICORP‘s wellbeing to assess its intrinsic value. We found that the intrinsic value of a HASHICORP share is around $40.8 by using our proprietary Valuation Line. This means that the current trading price of HASHICORP stock is $29.7, which is 27.1% lower than its intrinsic value. This suggests that HASHICORP is undervalued right now and could make for a good investment opportunity. More…
Peers
HashiCorp is a cloud infrastructure software company based in San Francisco. The company was founded in 2012 by Mitchell Hashimoto and Armon Dadgar. HashiCorp develops a suite of tools for enterprises that enable them to provision, secure, and run their applications in the cloud. The company’s tools are used by some of the world’s largest organizations, including eBay, LinkedIn, and Square.
HashiCorp’s main competitors in the cloud infrastructure software market are Radware Ltd, Sovereign Cloud Holdings Ltd, and Kingsoft Cloud Holdings Ltd.
– Radware Ltd ($NASDAQ:RDWR)
Radware Ltd. is a global leader in providing cybersecurity and application delivery solutions. It offers a comprehensive and award-winning portfolio of products and services to help organizations ensure the security, performance, and availability of their applications and networks. Radware has been recognized by industry analysts and others for its innovation, leadership, and vision.
– Sovereign Cloud Holdings Ltd ($ASX:SOV)
Sovereign Cloud Holdings Ltd is a cloud-based software company that provides enterprise software solutions. The company has a market cap of 29.7M and a ROE of -23.6%. Sovereign Cloud Holdings Ltd’s products and services are used by businesses of all sizes, from small businesses to large enterprises. The company’s products are used in a variety of industries, including healthcare, banking, retail, and manufacturing.
– Kingsoft Cloud Holdings Ltd ($NASDAQ:KC)
Kingson Cloud Holdings Ltd is a Chinese holding company that provides cloud computing services. It has a market capitalization of 544.63 million as of 2022 and a return on equity of -14.02%. The company offers a range of services including storage, networking, and computing. It has a strong presence in the Chinese market and is expanding its operations globally.
Summary
HASHICORP reported strong earnings for FY2023 Q4, with total revenue increasing 78.3% and net income increasing 40.7% year-over-year. However, their stock price dropped the same day, likely due to the fact that their revenues were still lower than expected, and their net income was still far lower than the same period prior. Investors should keep an eye on HASHICORP’s performance in the upcoming quarters, as a sustained increase in revenue and profits could indicate a strong trend in the company’s future.
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