secwatch / observer
8-K filed June 7, 2023, 7:59 PM ET CIK 0001720671
earnings confidence high sentiment positive materiality 0.80

HashiCorp, Inc.: restructuring charge — HashiCorp Q1 revenue up 37% to $138M; GAAP net loss narrows; cuts workforce 8%

HashiCorp, Inc.

2024-Q1 EPS reported -$0.28 revenue$137,983,000

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Susan St. Ledger

President, Worldwide Field Operations
HashiCorp, Inc.
Filed
June 7, 2023, 7:59 PM ET
On June 7, 2023, HashiCorp announced the appointment of Susan St. Ledger as the Company’s President, Worldwide Field Operations, effective July 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HashiCorp, Inc. reported first quarter of fiscal 2024, ended April 30, 2023 results: revenue $138.0 million, net income GAAP net loss was $53.3 million, EPS GAAP net loss per share was $0.28.

Period
first quarter of fiscal 2024, ended April 30, 2023
Revenue
$138.0 million
Net income
GAAP net loss was $53.3 million
EPS
GAAP net loss per share was $0.28
Result
reported results
Exact text from the filing
Revenue : Total revenue was $138.0 million in the first quarter of fiscal 2024, up 37% from $100.9 million in the same period last year. Gross Profit : GAAP gross profit was $111.2 million in the first quarter of fiscal 2024, representing an 81% gross margin, compared to a GAAP gross profit of $81.5 million and an 81% gross margin in the same period last year. Non-GAAP gross profit was $115.0 million in the first quarter fiscal 2024, representing an 83% non-GAAP gross margin, compared to a non-GAAP gross profit of $85.0 million and an 84% non-GAAP gross margin in the same period last year. Operating Loss : GAAP operating loss was $67.8 million in the first quarter of fiscal 2024, compared to GAAP operating loss of $78.4 million in the same period last year. Non-GAAP operating loss was $27.3 million in the first quarter of fiscal 2024, compared to a non-GAAP operating loss of $32.0 million in the same period last year. Net Loss : GAAP net loss was $53.3 million in the first quarter of f
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Executive change SEC 8-K Item 5.02 confidence 0.95

Susan St. Ledger was appointed as President, Worldwide Field Operations at HashiCorp, Inc..

Action
appointed
Role
President, Worldwide Field Operations
Exact text from the filing
On June 7, 2023, HashiCorp announced the appointment of Susan St. Ledger as the Company’s President, Worldwide Field Operations, effective July 2023.
View on SEC.gov
Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

HashiCorp, Inc. announced a restructuring with charges of approximately $6.5 million to $8.5 million in severance costs, and $0.5 million to $1.0 million in benefits continuation and other expenses (approximately 8%).

Type
restructuring
Charge
approximately $6.5 million to $8.5 million in severance costs, and $0.5 million to $1.0 million in benefits continuation and other expenses
Headcount
approximately 8%
Exact text from the filing
As a result of the Reduction, the Company expects to incur approximately $6.5 million to $8.5 million in severance costs, and $0.5 million to $1.0 million in benefits continuation and other expenses.
View on SEC.gov

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Source: SEC EDGAR
accession 0001628280-23-021270
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