International Business Machines Corporation (IBM) is in advanced discussions to purchase HashiCorp Inc. (HCP) , per a Wall Street Journal report. Based in California, HashiCorp is a software company that enables organizations to efficiently automate multi-cloud and hybrid environments with its Infrastructure Lifecycle Management and Security Lifecycle Management solutions.Earlier this year, a Bloomberg article hinted at HashiCorp considering a potential sale. The company has consistently exceeded earnings e ...

HashiCorp, Inc. (HCP) shares rallied 21.4% in the last trading session to close at $29.15. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 8.8% loss over the past four weeks.The upswing in shares can be attributed to rumors that IBM might bid for HashiCorp.This company is expected to post quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of +85.7%. Revenues are ...

The Wall Street Journal reported IBM may be nearing a deal to buy the software maker.Shares of cloud automation software company HashiCorp (HCP 19.67%) were rallying hard on Tuesday, up 21.7% as of 3:56 p.m. ET.The software company, which went public in 2021 and helps businesses set up their cloud infrastructure, is apparently nearing a deal to be acquired by tech giant IBM (IBM 0.16%), according to an exclusive report in The Wall Street Journal.The company had been rumored to be seeking a buyer since March ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

HashiCorp shares jumped as much as 26% on Tuesday following a media report claiming IBM was in talks to acquire the cloud software maker.Developers use HashiCorp's software to set up and manage infrastructure in public clouds that companies such as Amazon and Microsoft operate. Citing unnamed sources, The Wall Street Journal said a deal could come in the next few days.HashiCorp and IBM both declined to comment.Founded in 2012, HashiCorp went public on Nasdaq in 2021. The company generated a net loss of near ...

NEW YORK, April 22, 2024 (GLOBE NEWSWIRE) --  HashiCorp, Inc. (NASDAQ:HCP), a leader in multi-cloud infrastructure automation software, today introduced The Infrastructure Cloud™, a unification of its products onto a single platform, the HashiCorp Cloud Platform (HCP), which delivers fully integrated solutions for Infrastructure Lifecycle Management and Security Lifecycle Management across multiple clouds. The cloud promised to deliver transformative business benefits for speed, cost, and risk. However, nea ...

MADRID, Spain, April 17, 2024 (GLOBE NEWSWIRE) -- HashiCorp, Inc. (NASDAQ:HCP), a leading provider of multi-cloud infrastructure automation software, announced today the opening of its Madrid tech hub, located at Paseo de La Castellana in Nuevos Ministerios, Madrid. This initiative marks a significant milestone in HashiCorp's commitment to grow its European presence and support companies with its Infrastructure (ILM) and Security Lifecycle Management (SLM) software that has become essential for enterprises ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 31, 2024 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-41121 HashiCorp, Inc. (Exact name of Registrant as specified in its charter) Delaware 32-0410665 (State or other juri ...

Exhibit 99.1 HashiCorp Announces Fourth Quarter and Fiscal Year 2024 Financial Results SAN FRANCISCO – March 5, 2024 – HashiCorp, Inc. (NASDAQ: HCP), a leading provider of multi-cloud infrastructure automation software, today announced financial results for its fourth quarter and full fiscal year 2024, ended January 31, 2024. "The HashiCorp team closed fiscal 2024 strong in Q4, with results that exceeded expectations," said Dave McJannet, CEO, HashiCorp. "In fiscal 2025, we are doubling down on initiatives ...

Part I. Financial Information [Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents HashiCorp's unaudited financial statements, detailing its financial position and performance for the periods ended October 31, 2023 [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheets show **total assets** of **$1.586 billion** as of October 31, 2023, reflecting changes in cash, investments, and liabilities Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | Oct 31, 2023 | Jan 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $729,826 | $1,286,134 | | Short-term investments | $525,825 | $— | | Total current assets | $1,438,590 | $1,508,998 | | Total assets | $1,586,269 | $1,628,340 | | **Liabilities & Stockholders' Equity** | | | | Deferred revenue (current) | $264,422 | $272,909 | | Total current liabilities | $357,890 | $380,849 | | Total liabilities | $394,546 | $422,990 | | Total stockholders' equity | $1,191,723 | $1,205,350 | | Total liabilities and stockholders' equity | $1,586,269 | $1,628,340 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The statements of operations show **total revenue** of **$146.1 million** for Q3 2023, with a narrowed **net loss** compared to the prior year Statement of Operations Highlights (in thousands, except per share data) | Metric | Q3 2023 | Q3 2022 | 9 Months 2023 | 9 Months 2022 | | :--- | :--- | :--- | :--- | :--- | | Total revenue | $146,125 | $125,341 | $427,354 | $340,101 | | Gross profit | $120,520 | $102,793 | $345,627 | $276,624 | | Loss from operations | $(55,573) | $(77,338) | $(205,979) | $(234,399) | | Net loss | $(39,473) | $(71,958) | $(159,046) | $(224,939) | | Net loss per share | $(0.20) | $(0.38) | $(0.83) | $(1.22) | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash flow statements indicate **$21.1 million** in **net cash used in operating activities** for the nine months ended October 31, 2023, a notable improvement Cash Flow Highlights (in thousands) | Activity | Nine Months Ended Oct 31, 2023 | Nine Months Ended Oct 31, 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | $(21,137) | $(86,040) | | Net cash used in investing activities | $(548,073) | $(6,314) | | Net cash provided by financing activities | $12,902 | $11,434 | | **Net decrease in cash** | **$(556,308)** | **$(80,920)** | [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) These notes detail significant accounting policies, the **BluBracket acquisition**, a **workforce reduction**, and **Remaining Performance Obligations** as of October 31, 2023 - On June 2, 2023, the company acquired BluBracket, Inc. for an aggregate purchase price of **$25.1 million** in cash. The **acquisition** is expected to enhance the company's Vault product offering with code security solutions[41](index=41&type=chunk) - As of October 31, 2023, the company had **$678.2 million** in **Remaining Performance Obligations** (RPOs), with approximately **59%** expected to be recognized as **revenue** over the next 12 months[54](index=54&type=chunk) - On June 7, 2023, the company announced a **workforce reduction** plan affecting approximately **8%** of its workforce to improve operational efficiency. This resulted in **$7.3 million** of charges during the nine months ended October 31, 2023[93](index=93&type=chunk)[94](index=94&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance, highlighting **revenue growth**, **customer expansion**, and a strong **liquidity position** despite ongoing operating losses - The company's business model focuses on an "adopt, land, expand, and extend" motion, leveraging free community editions to drive adoption, followed by enterprise sales for proprietary features and support[119](index=119&type=chunk) - As of October 31, 2023, the last four-quarter average **net dollar retention rate** was **119%**, compared to **134%** as of October 31, 2022, indicating continued but slowing expansion within the existing customer base[119](index=119&type=chunk)[126](index=126&type=chunk) - **HashiCorp Cloud Platform (HCP) revenue** grew to **$19.9 million** for the three months ended October 31, 2023, up from **$12.9 million** in the prior-year period, representing a key **growth** area for the company[127](index=127&type=chunk) Key Business Metrics | Metric | As of Oct 31, 2023 | As of Jan 31, 2023 | | :--- | :--- | :--- | | Total customers | 4,354 | 3,870 | | Total customers with ≥$100,000 ARR | 877 | 798 | | GAAP Remaining Performance Obligations (RPOs) | $678.2 million | $647.1 million | [Results of Operations](index=47&type=section&id=Results%20of%20Operations) This section details the company's **revenue growth** and **operating expense** changes for Q3 and the nine months ended October 31, 2023, showing narrowed operating losses Revenue Comparison - Q3 2023 vs Q3 2022 (in thousands) | Revenue Type | Q3 2023 | Q3 2022 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Subscription | $141,934 | $120,198 | $21,736 | 18% | | - Cloud-hosted services | $19,863 | $12,875 | $6,988 | 54% | | Professional services | $4,191 | $5,143 | $(952) | (19)% | | **Total Revenue** | **$146,125** | **$125,341** | **$20,784** | **17%** | Operating Expense Comparison - Q3 2023 vs Q3 2022 (in thousands) | Expense Category | Q3 2023 | Q3 2022 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Sales and marketing | $87,320 | $92,872 | $(5,552) | (6)% | | Research and development | $54,349 | $53,887 | $462 | 1% | | General and administrative | $34,424 | $33,372 | $1,052 | 3% | | **Total Operating Expenses** | **$176,093** | **$180,131** | **$(4,038)** | **(2)%** | [Liquidity and Capital Resources](index=55&type=section&id=Liquidity%20and%20Capital%20Resources) HashiCorp maintains a strong **liquidity position** with **$1.256 billion** in cash and investments, sufficient to fund operations despite expected ongoing losses - The company's **cash, cash equivalents, and short-term investments** totaled **$1,255.7 million** as of October 31, 2023[199](index=199&type=chunk) Cash Flow Summary (in thousands) | Cash Flow Activity | Nine Months Ended Oct 31, 2023 | Nine Months Ended Oct 31, 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | $(21,137) | $(86,040) | | Net cash used in investing activities | $(548,073) | $(6,314) | | Net cash provided by financing activities | $12,902 | $11,434 | [Quantitative and Qualitative Disclosures About Market Risk](index=59&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company manages market **risks** from **interest rates** and **foreign currency fluctuations**, implementing hedging strategies for foreign-denominated expenses - The company does not believe a hypothetical **10%** change in **interest rates** would materially impact operating results[214](index=214&type=chunk) - A portion of **operating expenses** are denominated in foreign currencies. A hypothetical **10%** weakening of the U.S. dollar could increase **operating expenses** by approximately **2%**[216](index=216&type=chunk) - In Q2 of fiscal 2024, the company began using foreign currency forward contracts to hedge against **fluctuations** in foreign-denominated expenses[217](index=217&type=chunk) [Controls and Procedures](index=59&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that **disclosure controls and procedures** were **effective** as of October 31, 2023, with **no material changes** in internal control over financial reporting - The CEO and CFO concluded that as of October 31, 2023, the company's **disclosure controls and procedures** were **effective** at a reasonable assurance level[222](index=222&type=chunk) - **No changes** occurred during the quarter that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[223](index=223&type=chunk) Part II. Other Information [Legal Proceedings](index=61&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in ordinary course **legal proceedings** but believes it has not incurred a **material loss** from such contingencies as of October 31, 2023 - The company believes that as of October 31, 2023, it had not incurred a **material loss** with respect to litigation and other loss contingencies[81](index=81&type=chunk) [Risk Factors](index=62&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant **risks** including **net losses**, intense **competition**, challenges with its **source-available software model**, and concentrated **voting power** - The company has a history of **net losses**, incurring **$39.5 million** in Q3 2023, and may not achieve or sustain profitability in the future[239](index=239&type=chunk) - **Competition** is a major **risk**, especially from public cloud operators (AWS, Microsoft Azure, Google Cloud) who may use HashiCorp's **source-available software** to build competing offerings and have greater resources[233](index=233&type=chunk)[265](index=265&type=chunk) - The company's change to the Business Source License in August 2023 does not prevent competitors from building on versions released under the previous, more permissive open-source license[247](index=247&type=chunk)[248](index=248&type=chunk) - The dual-class stock structure **concentrates approximately 41%** of **voting power** with executive officers and directors, and **31%** with the co-founders, **limiting the influence** of Class A stockholders[406](index=406&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=126&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section reports **no unregistered sales of equity securities** during the reporting period - None[422](index=422&type=chunk) [Other Information](index=128&type=section&id=Item%205.%20Other%20Information) Armon Dadgar, Co-Founder and CTO, entered into a **Rule 10b5-1 trading plan** on September 7, 2023, for the **potential sale** of common stock - Armon Dadgar, Co-Founder and CTO, entered into a **Rule 10b5-1 trading plan** on September 7, 2023, for the **potential sale** of up to **1,029,830 shares** of common stock[428](index=428&type=chunk) [Exhibits](index=129&type=section&id=Item%206.%20Exhibits) This section lists the documents filed as **exhibits** with the Form 10-Q, including required certifications and Inline XBRL documents