HashiCorp reported solid financial results with year-over-year growth in revenue and cRPO. The company is implementing strategic initiatives to drive future growth and improve performance. However, they are still facing challenges related to optimization cycles and slower-than-desired growth, leading to a cautious outlook for FY 2025 with expectations of a U-shaped recovery.

Company Guidance

In the HashiCorp Fiscal 2024 Fourth Quarter Earnings Call, the company provided guidance indicating solid performance and future expectations. The fourth quarter revenue was reported at $156 million, marking a 15% year-over-year increase, while the non-GAAP remaining performance obligations reached $483 million, reflecting a 21% growth. For fiscal year 2025, HashiCorp expects total revenue between $643 million and $647 million, with a non-GAAP operating loss in the range of $43 million to $46 million. The company anticipates a U-shaped recovery in revenue growth rates, with the lowest point expected in Q2, followed by improvement in the latter half of the year, aiming for approximately 20% cRPO growth by the end of fiscal 2025. HashiCorp plans to achieve a 20% quarterly revenue growth during fiscal 2026, with a focus on improving sales execution, enhancing commercial product differentiation, and shifting to cloud offerings. The company also announced a $250 million share repurchase program, signaling confidence in its financial position and future prospects.

Strong Revenue and cRPO Growth

HashiCorp reported revenues of $156 million, showing a year-over-year growth of 15%. The non-GAAP remaining performance obligations (cRPO) reached $483 million, representing a 21% year-over-year growth.

Improved Pipeline Conversion and Renewals

The company experienced improved pipeline conversion rates and renewal rates in Q4, indicating a rebound from optimization cycles.

Strategic Initiatives for Growth

HashiCorp is focusing on three key initiatives: simplifying the go-to-market strategy, enhancing commercial product differentiation, and emphasizing cloud products. These are aimed at achieving 20% revenue growth by FY 2026.

Positive Free Cash Flow and Share Repurchase Program

HashiCorp ended the year with another free cash flow positive quarter and announced a $250 million share repurchase program, indicating a strong financial position.

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HashiCorp (HCP) Earnings, Revenues Date & History

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HCP Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 06, 2025	2025 (Q4)	0.10 / -	0.05	―	―	―
Dec 05, 2024	2025 (Q3)	0.05 / 0.13	0.03	333.33% (+0.10)	―	―
Aug 30, 2024	2025 (Q2)	>-0.01 / 0.08	-0.1	180.00% (+0.18)	―	―
May 30, 2024	2025 (Q1)	-0.01 / 0.05	-0.07	171.43% (+0.12)	―	―
Mar 05, 2024	2024 (Q4)	<0.01 / 0.05	-0.07	171.43% (+0.12)
Dec 07, 2023	2024 (Q3)	-0.04 / 0.03	-0.13	123.08% (+0.16)
Aug 31, 2023	2024 (Q2)	-0.15 / -0.10	-0.17	41.18% (+0.07)
Jun 07, 2023	2024 (Q1)	-0.14 / -0.07	-0.17	58.82% (+0.10)
Mar 09, 2023	2023 (Q4)	-0.23 / -0.07	-0.24	70.83% (+0.17)
Dec 07, 2022	2023 (Q3)	-0.32 / -0.13	-0.12	-8.33% (-0.01)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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HCP Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Dec 05, 2024	$33.63	$33.78	+0.45%
Aug 30, 2024	$33.80	$33.94	+0.41%
May 30, 2024	$33.55	$33.58	+0.09%
Mar 05, 2024	$23.96	$26.56	+10.85%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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