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

Core Insights - HashiCorp, Inc. reported revenue of $160.58 million for the quarter ended April 2024, marking a year-over-year increase of 16.4% and exceeding the Zacks Consensus Estimate by 4.69% [1] - The company achieved an EPS of $0.05, a significant improvement from -$0.07 a year ago, resulting in an EPS surprise of 600.00% compared to the consensus estimate of -$0.01 [1] Revenue Breakdown - Revenue from Professional Services and other reached $6.01 million, surpassing the average estimate of $4.83 million from eight analysts [3] - Subscription revenue was reported at $154.57 million, exceeding the average estimate of $148.51 million based on eight analysts [3] - Revenue from Cloud-hosted services was $24.59 million, compared to the five-analyst average estimate of $23 million [3] - Support revenue amounted to $113.63 million, above the average estimate of $110.13 million from four analysts [3] - License revenue was reported at $16.35 million, exceeding the average estimate of $15.50 million from four analysts [3] Stock Performance - Over the past month, HashiCorp's shares have returned +2.6%, while the Zacks S&P 500 composite has changed by +3.2% [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [4]