Research Reports

Total company GAAP revenue: $671 million, up 1% sequentially, down 1% YoY, above guidance midpoint (CFO)
Private Cloud revenue: $250 million, met guidance midpoint, down 3% YoY (CEO, CFO)
Public Cloud revenue: $422 million, exceeded high end of guidance, up 1% YoY and 1% sequentially (CEO, CFO)
Non-GAAP gross profit margin: 19.9% of GAAP revenue, up slightly sequentially, down 120 bps YoY (CFO)
Non-GAAP operating profit: $32 million, met high end of guided range, up 17% sequentially (CFO)
Non-GAAP loss per share: ($0.05), at midpoint of guided range (CFO)
Cash flow from operations: $71 million; free cash flow: $43 million (CFO)
Cash on hand: $100 million; total liquidity: $386 million (CFO)
Bookings (annual contract value): grew 5% YoY, driven by private cloud (CEO)
Private Cloud non-GAAP gross margin: 38.1%, down 50 bps YoY, up 130 bps sequentially (CFO)
Public Cloud non-GAAP gross margin: 9.2%, down 110 bps YoY due to unfavorable product mix (CFO)

GAAP revenue: $664–$678 million (flat sequentially, down 2% YoY at midpoint) (CFO)
Private Cloud revenue: $244–$252 million (down 1% sequentially at midpoint) (CFO)
Public Cloud revenue: $420–$426 million (flat sequentially at midpoint) (CFO)
Non-GAAP operating profit: $32–$34 million (CFO)
Non-GAAP loss per share: ($0.03)–($0.05) (CFO)
Non-GAAP tax rate: 26%; share count: 242–244 million (CFO)

"We do not try to be everything to everyone. We aim to be the partner of record when it matters." (CEO)
"Results for the third quarter met or beat our expectations across all key metrics." (CEO)
"Revenue continues to stabilize as prior period bookings ramp reflecting business strength and consistent execution." (CEO)
"Non-GAAP operating profit was $32 million, meeting the high end of our guided range and up 17% sequentially due to cost efficiencies in private cloud and lower corporate expenses." (CFO)
"Our ambition is clear. We will be the leading hybrid multi-cloud partner for regulated, sovereign, and mission-critical workloads." (CEO)

Metric	Value	Speaker/Context
Total GAAP Revenue	$671M	Q3 2025, up 1% seq, down 1% YoY (CFO)
Private Cloud Revenue	$250M	Met guidance midpoint, down 3% YoY (CEO, CFO)
Public Cloud Revenue	$422M	Exceeded high end of guidance, up 1% YoY (CEO, CFO)
Non-GAAP Gross Profit Margin	19.9%	Down 120 bps YoY (CFO)
Non-GAAP Operating Profit	$32M	Met high end of guided range, up 17% seq (CFO)
Non-GAAP Loss Per Share	($0.05)	At midpoint of guided range (CFO)
Cash from Operations	$71M	Q3 2025 (CFO)
Free Cash Flow	$43M	Q3 2025 (CFO)
Cash on Hand	$100M	End of Q3 2025 (CFO)
Total Liquidity	$386M	End of Q3 2025 (CFO)
Bookings (ACV) Growth	5% YoY	Driven by private cloud (CEO)
Private Cloud Non-GAAP Gross Margin	38.1%	Down 50 bps YoY, up 130 bps seq (CFO)
Public Cloud Non-GAAP Gross Margin	9.2%	Down 110 bps YoY (CFO)