TIBCO Software, Inc.

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  • Sep. 18, 2014, 6:45 PM
    • Tibco (NASDAQ:TIBX) guided on its FQ3 CC for FQ4 revenue of $290M-$305M and EPS of $0.18-$0.24, below a consensus of $313M and $0.32.
    • The company blames its FQ3 miss on a shift to subscription licensing from up-front payments - Oracle has offered a similar excuse for its near-term issues - and weaker-than-expected European sales. At the same time, Tibco claims it saw "a solid sequential improvement" for sales of its Spotfire analytics/data visualization platform, which had slumped earlier this year.
    • FQ3 software license revenue -20% Y/Y to $85.9M, with subscription revenue totaling $13.2M; service/maintenance revenue (driven by past deals) +4% to $169.6M.
    • GAAP sales/marketing spend grew 11% to $93.2M, while R&D spend fell 3% to $41.9M.
    • Tibco is just 15 days removed from officially launching a strategic review.
    • FQ3 results, PR
    | Sep. 18, 2014, 6:45 PM
  • Sep. 18, 2014, 4:08 PM
    • Tibco Software (NASDAQ:TIBX): FQ3 EPS of $0.14 misses by $0.04.
    • Non- GAAP Revenue of $259.6M (-4.2% Y/Y) misses by $12.88M.
    • Shares -5.00%.
    | Sep. 18, 2014, 4:08 PM
  • Sep. 17, 2014, 5:35 PM
  • Jun. 19, 2014, 5:33 PM
    • Tibco (TIBX) guides on its FQ2 CC for FQ3 revenue of $267M-$279M and EPS of $0.15-$0.19, largely below a consensus of $278.5M and $0.24.
    • A relatively soft guide was expected following Tibco's June 3 FQ2 warning.
    • License revenue (30% of total revenue, drives future services revenue) fell 7% Y/Y in FQ2. Tibco once more blames execution issues, and says it's "aggressively focusing on making strategic, operational and organizational changes to address our execution challenges."
    • Tibco's nascent subscription business grew 63% Y/Y to $5.8M (2% of revenue). Services/maintenance revenue (67% of revenue, largely stems from past deals) rose 7%. Opex rose 6% to $159.3M.
    • Tibco's numbers arrive a week after activist Praesidium Investment disclosed a 3.4% stake and called for changes.
    • FQ2 results, PR
    | Jun. 19, 2014, 5:33 PM
  • Jun. 19, 2014, 4:09 PM
    • TIBCO Software (TIBX): FQ2 EPS of $0.14 beats by $0.01.
    • Non GAAP Revenue of $254M (+3.3% Y/Y) beats by $1.67M.
    • Shares -0.58%.AH.
    | Jun. 19, 2014, 4:09 PM
  • Jun. 18, 2014, 5:35 PM
    | Jun. 18, 2014, 5:35 PM | 2 Comments
  • Jun. 3, 2014, 4:18 PM
    • Tibco (TIBX) now expects FQ2 (May quarter) revenue of $250M-$252M and EPS of $0.12-$0.13, below prior guidance of $263M-$271M and $0.20-$0.22, and a consensus of $267.5M and $0.21.
    • Weaker-than-expected sales of the company's Spotfire analytics/data visualization platform are "primarily" to blame. In March, Tibco stated Spotfire, which faces tough competition from Tableau and Qlik, had "performed below plan" in FQ1.
    • The company says core infrastructure (middleware) and event processing software sales rose during the quarter, and that it has "several changes under way" that it thinks will bolster Spotfire's performance.
    • Full FQ2 results arrive on June 19.
    • Shares are halted. They jumped last week following a report stating SAP might be interested in making a bid. If SAP is interested, it might now get a discount.
    | Jun. 3, 2014, 4:18 PM
  • Apr. 23, 2014, 3:58 PM
    • Plenty of enterprise software names have underperformed on a down day for tech stocks after VMware (VMW -9.2%) provided soft bookings numbers (sub-10% Y/Y growth in the Americas, EMEA, and Asia-Pac), and blamed it on delays in signing major enterprise licensing deals (ELAs) as it talks with clients about more expansive agreements.
    • VMware rivals Oracle (ORCL -1.6%), Citrix (CTXS -2.8%), and Red Hat (RHT -1.7%) are among the decliners. Others: CRM -2.5%. WDAY -5.6%. SPLK -6.3%. VEEV -4.3%. NOW -4.2%. TIBX -2.9%. INFA -2.2%. QLIK -3.2%.
    • Nomura (Buy) observes that while VMware reported 18% Y/Y billings growth, underlying growth may have been in the single digits after accounting for the AirWatch deal and other adjustments. Nonetheless, it thinks ELA weakness might be a seasonal issue that will correct in Q2.
    • Is competition taking a toll? In spite of the soft bookings figures, VMware managed to report strong licensing activity for products other than its core vSphere server virtualization platform, and noted on its CC (transcript) solutions other than standalone vSphere made up over 45% of license bookings (up from 30%+ a year ago).
    • Microsoft's Hyper-V has been gradually eating into vSphere's market dominance. Other cheaper alternatives such as the open-source Xen (backed by Citrix) and KVM have also been gaining ground.
    | Apr. 23, 2014, 3:58 PM | 1 Comment
  • Mar. 21, 2014, 6:31 PM
    • Tibco (TIBX -2%) guided on its CC (transcript) for FQ2 revenue of $263M-$271M and EPS of $0.20-$0.22 vs. a consensus of $267M and $0.22.
    • Worrying some analysts: Tibco admitted its Spotfire analytics/data visualization platform, once growing rapidly, "performed below plan." The company insists product quality isn't an issue. "We been too focused on big deals and traditional enterprise sales and we must move more aggressively to broaden out into a higher volume horizontal market business."
    • That's something analytics rival Tableau (DATA) has been doing quite well: The company's license revenue rose 93% Y/Y in the December quarter. The next version of Spotfire aims to improve ease-of-use, long a strong point for Tableau.
    • Tibco's event processing/analytics license sales (41% of license revenue, includes Spotfire) fell 7% Y/Y. On the other hand, its core infrastructure license sales (middleware, 59% of license revenue) rose 18%.
    • Morgan Stanley (Equal-weight) sees the contrast between Spotfire and middleware's performance as another example of Tibco being hard-pressed in recent years to maintain "consistent execution" across its product line. "With productive sales capacity declining, we don't see a quick fix."
    | Mar. 21, 2014, 6:31 PM
  • Mar. 20, 2014, 4:08 PM
    • TIBCO Software (TIBX): FQ1 EPS of $0.19 beats by $0.01.
    • Revenue of $252.9M (+6.4% Y/Y) beats by $2.34M.
    • Shares +3.4% AH.
    | Mar. 20, 2014, 4:08 PM
  • Mar. 20, 2014, 12:10 AM
  • Mar. 19, 2014, 5:35 PM
    | Mar. 19, 2014, 5:35 PM | 1 Comment
  • Feb. 4, 2014, 4:29 PM
    • Tableau's (DATA) Q4 revenue and EPS ($81.5M and $0.20) respectively beat consensus forecasts by $14.5M and $0.20. Y/Y revenue growth accelerated to 95% from Q3's 90%.
    • License revenue (71% of total revenue, drives future maintenance revenue) grew 93%, up from Q3's 90%. Maintenance revenue (29% of total) doubled to $23.4M after growing 91% in Q3.
    • The data visualization/analytics upstart added 1,800+ customers and closed 179 $100K+ deals in seasonally strong Q4, up from 1,500+ and 119 in Q3. The company's deferred revenue balance rose 28% Q/Q to $69.2M.
    • Like many fast-growing enterprise software names, Tableau continues to invest aggressively: sales/marketing spend rose 73% Y/Y to $40.1M, and R&D spend 76% to $18.4M.
    • Rival QLIK +1.3% AH. The company reports on Feb. 20. Tableau's license numbers stands in stark contrast to the Y/Y license revenue decline rival Tibco (TIBX) reported for its Spotfire analytics platform for the November quarter.
    • CC at 5PM ET. Q4 results, PR.
    | Feb. 4, 2014, 4:29 PM | 1 Comment
  • Dec. 19, 2013, 5:05 PM
    • Tibco (TIBX) guides on its FQ4 CC for FQ1 revenue of $247M-$253M and EPS of $0.17-$0.18, below a consensus of $255.4M and $0.21.
    • License revenue for the seasonally weak quarter is expected to be in a range of $78M-$84M, which compares with a year-ago level of $78.3M.
    • Shares now -8.3% AH.
    • FQ4 results, details
    | Dec. 19, 2013, 5:05 PM
  • Dec. 19, 2013, 4:51 PM
    • Though Tibco's (TIBX) FQ4 revenue beat consensus by $3M, the company's license revenue (+2% Y/Y to $139.7M) was only in-line with a guidance range of $136M-$144M.
    • Tibco's license revenue performance has been closely watched, both due to its role in driving service/maintenance revenue (+10% in FQ4 to $175.7M) down the line, and because growth was negative earlier this year. Tibco blamed sales execution, but analysts raised questions about middleware price competition from IBM/Oracle.
    • 193 $100K+ deals and 31 $1M+ deals were closed in FQ4, compared with 195 and 25 a year ago. Opex rose 12% Y/Y, thanks largely to a 16% increase in sales/marketing spend.
    • CC underway, guidance should be provided. FQ4 results, PR.
    | Dec. 19, 2013, 4:51 PM
Company Description
TIBCO Software Inc. provides infrastructure and business intelligence software. Its software platform enables customers to create flexible, event-driven applications and deliver real-time, actionable insights.