Better-than-expected results for Cornerstone OnDemand

Cornerstone OnDemand has announced its Q2 2020 results which follow its acquisition of Saba, a talent management software solutions provider, for nearly $1.4bn in April 2020.

Cornerstone’s Q2 2020 result showed total revenue increased by 30 percent year on year to $184.4m, subscription revenue increased by 33.7 percent year on year to $177.2m, and operating loss was $22.4m compared to a loss of $3.6m in the same period last year.

Cornerstone OnDemand chief executive officer, Phil Saunders, said: “Q2 was one of the most important quarters in Cornerstone history, as the acquisition of Saba was completed and we began operating as one integrated company, while delivering strong results. We are now embarking on a brand-new chapter in Cornerstone, and we’ve already started the transformation from a great company into a great business.”