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    Teradata Reports Fourth Quarter and Full-Year 2024 Financial Results

    2/11/25 4:05:00 PM ET
    $TDC
    Computer Software: Prepackaged Software
    Technology
    Get the next $TDC alert in real time by email
    • Fourth quarter public cloud ARR of $609 million, an increase of 15% as reported and 18% in constant currency from the prior year period(1)
    • Full-year GAAP diluted EPS was $1.16, up 90% year-over-year
    • Full-year non-GAAP diluted EPS was $2.42, up 17% year-over-year(2)
    • Full-year cash from operations of $303 million and free cash flow of $277 million(3)
    • Announces CFO transition plan

     

    Teradata (NYSE: TDC) today announced its fourth quarter and full-year 2024 financial results.

    "In 2024, Teradata took decisive actions to improve execution, and met our guidance ranges for both Cloud and Total ARR. We believe we are well positioned to return to growth this year," said Steve McMillan, President and CEO, Teradata. "Last year, we delivered significant AI technology, including broad support for OTFs, BYO-LLM and GPU-accelerated compute. We are excited about our upcoming innovations in 2025, which are designed to help our customers extend their hybrid AI environments and build towards an agentic AI future."

    CFO Transition Plan

    Claire Bramley, Chief Financial Officer, will be leaving Teradata, effective March 31, to take a Chief Financial Officer position at another company outside of Teradata's industry. The Company has initiated a search process, with the assistance of a leading executive search firm, to identify a permanent successor. Charles Smotherman, Teradata's Chief Accounting Officer, has been appointed Interim Chief Financial Officer, effective March 24. Smotherman has served as Teradata's Chief Accounting Officer since 2019 and has more than 25 years of finance and accounting leadership experience.

    Mr. McMillan continued, "Claire has been instrumental in supporting the company's transformation to a cloud leader, guiding Teradata with a solid foundation of operational excellence and strong financial discipline in driving durable profitability and free cash flow. Charles brings deep knowledge of Teradata and extensive experience in financial leadership, and we expect a seamless transition."

    Fourth Quarter 2024 Financial Highlights Compared to Fourth Quarter 2023

    • Public cloud ARR increased to $609 million from $528 million, an increase of 15% as reported and 18% in constant currency(1)
    • Total ARR decreased to $1.474 billion from $1.570 billion, a decrease of 6% as reported and 4% in constant currency(1)
    • Recurring revenue was $351 million versus $372 million a decrease of 6% as reported and 4% in constant currency (1)
    • Total revenue was $409 million versus $457 million, a decrease of 11% as reported and 9% in constant currency(1)
    • Recurring revenue was 86% of total revenue versus 81%
    • GAAP gross margin was 59.4% versus 60.8%
    • Non-GAAP gross margin was 60.9% versus 61.9%(2)
    • GAAP operating margin was 9.5% versus 10.3%
    • Non-GAAP operating margin was 17.6% versus 19.5%(2)
    • GAAP diluted EPS was $0.26 versus ($0.07) per share
    • Non-GAAP diluted EPS was $0.53 versus $0.56 per share(2)
    • Cash flow from operations was $156 million compared to $176 million
    • Free cash flow was $148 million compared to $168 million(3)

    Full-Year 2024 Financial Highlights Compared to Full-Year 2023

    • Public cloud ARR increased to $609 million from $528 million, an increase of 15% as reported and 18% in constant currency(1)
    • Total ARR decreased to $1.474 billion from $1.570 billion, a decrease of 6% as reported and 4% in constant currency(1)
    • Recurring revenue was $1.479 billion versus $1.492 billion, a decrease of 1% as reported and an increase of 1% in constant currency (1)
    • Total revenue was $1.750 billion versus $1.833 billion, a decrease of 5% as reported and 3% in constant currency(1)
    • Recurring revenue was 85% of total revenue versus 81%
    • GAAP gross margin was 60.5% versus 60.8%
    • Non-GAAP gross margin was 61.7% versus 61.8%(2)
    • GAAP operating margin was 11.9% versus 10.1%
    • Non-GAAP operating margin was 20.3% versus 18.1%(2)
    • GAAP diluted EPS was $1.16 versus $0.61 per share
    • Non-GAAP diluted EPS was $2.42 versus $2.07 per share(2)
    • Cash flow from operations was $303 million compared to $375 million
    • Free cash flow was $277 million compared to $355 million(3)
    • Share repurchases of $215 million, resulting in a return of free cash flow of 78%

    Outlook

    For the full-year of 2025:

    • Public cloud ARR growth of 14% to 18% year-over-year, in constant currency(4)
    • Total ARR in the range of flat to 2% year-over-year, in constant currency(4)
    • Recurring revenue in the range of -3% to -5% year-over-year, in constant currency(4)
    • Total revenue in the range of -4% to -6% year-over-year, in constant currency(4)
    • GAAP diluted EPS is expected to be in the range of $1.05 to $1.15 per share
    • Non-GAAP diluted EPS is expected to be in the range of $2.15 to $2.25 per share(2)
    • Cash flow from operations of $270 million to $300 million
    • Free cash flow of $250 million to $280 million(3)

    For the first quarter of 2025:

    • Recurring revenue in the range of -4% to -6% year-over-year, in constant currency(4)
    • Total revenue in the range of -6% to -8% year-over-year, in constant currency(4)
    • GAAP diluted EPS is expected to be in the range of $0.33 to $0.37 per share
    • Non-GAAP diluted EPS is expected to be in the range of $0.55 to $0.59 per share(2)

    Earnings Conference Call

    The conference call will begin at 1:30 p.m. PT on February 11, 2025. Investors and participants may attend the call by dialing (404) 975-4839 and entering access code 357044. For investors and participants outside the United States, see global dial-in numbers here, and use access code 357044.

    The live webcast, as well as a replay, will be available on the Investor Relations page of the Teradata website at investor.teradata.com.

    Supplemental Financial Information

    Additional information regarding Teradata's operating results is provided below as well as on Teradata's website at investor.teradata.com.

    1.

    The impact of currency is determined by calculating the prior-period results using the current-year monthly average currency rates. See the foreign currency fluctuation schedule, which is used to determine revenue on a constant currency ("CC") basis, on the Investor Relations page of the Company's website at investor.teradata.com.

    Revenue

     

    (in millions)

     

     

    For the Three Months ended December 31

     

    2024

     

     

    2023

     

    % Change as

    Reported

     

    % Change in CC

    Recurring revenue

    $

    351

     

    $

    372

     

    (6

    %)

     

    (4

    %)

    Perpetual software licenses, hardware and other

     

    3

     

     

    12

     

    (75

    %)

     

    (69

    %)

    Consulting services

     

    55

     

     

    73

     

    (25

    %)

     

    (21

    %)

    Total revenue

    $

    409

     

    $

    457

     

    (11

    %)

     

    (9

    %)

     

     

     

     

     

     

     

     

    Product Sales

    $

    354

     

    $

    384

     

    (8

    %)

     

    (6

    %)

    Consulting Services

     

    55

     

     

    73

     

    (25

    %)

     

    (21

    %)

    Total revenue

    $

    409

     

    $

    457

     

    (11

    %)

     

    (9

    %)

     

     

     

     

     

     

     

     

    Revenue

     

    (in millions)

     

     

    For the Twelve Months ended December 31

     

    2024

     

     

    2023

     

    % Change as

    Reported

     

    % Change in CC

    Recurring revenue

    $

    1,479

     

    $

    1,492

     

    (1

    %)

     

    1

    %

    Perpetual software licenses, hardware and other

     

    23

     

     

    45

     

    (49

    %)

     

    (47

    %)

    Consulting services

     

    248

     

     

    296

     

    (16

    %)

     

    (13

    %)

    Total revenue

    $

    1,750

     

    $

    1,833

     

    (5

    %)

     

    (3

    %)

     

     

     

     

     

     

     

     

    Product Sales

    $

    1,502

     

    $

    1,537

     

    (2

    %)

     

    (1

    %)

    Consulting Services

     

    248

     

     

    296

     

    (16

    %)

     

    (13

    %)

    Total revenue

    $

    1,750

     

    $

    1,833

     

    (5

    %)

     

    (3

    %)

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    As of December 31

     

     

    2024

     

     

    2023

     

    % Change as

    Reported

     

    % Change in CC

    Annual recurring revenue*

    $

    1,474

     

    $

    1,570

     

    (6

    %)

     

    (4

    %)

    Public cloud ARR**

    $

    609

     

    $

    528

     

    15

    %

     

    18

    %

    The impact of currency on ARR is determined by calculating the prior period ending ARR using the current period end currency rates.

     

    * Annual recurring revenue ("ARR") is defined as the annual value at a point in time of all recurring contracts, including subscription, cloud, software upgrade rights, and maintenance. Total ARR does not include managed services and third-party software. The Company believes this is a useful metric to investors as it demonstrates progress toward achieving our strategic objectives as outlined in the Form 10-K and Form 10-Q.

     

    ** Public cloud ARR is defined as the annual value at a point in time of all contracts related to public cloud implementations of Teradata VantageCloud and does not include ARR related to private or managed cloud implementations. The Company believes this is a useful metric to investors as it demonstrates progress toward achieving our strategic objectives as outlined in the Form 10-K and Form 10-Q.

    2.

    Teradata reports its results in accordance with GAAP. However, as described below, the Company believes that certain non-GAAP measures such as free cash flow, non-GAAP gross profit, non-GAAP operating income, non-GAAP net income, and non-GAAP diluted earnings per share, all of which exclude certain items, and which may be reported on a constant currency basis, are useful for investors. Our non-GAAP measures are not meant to be considered in isolation to, as substitutes for, or superior to, results determined in accordance with GAAP, and should be read only in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP. Each of our non-GAAP measures do not have a uniform definition under GAAP and therefore, Teradata's definition may differ from other companies' definitions of these measures.

     

    The following tables reconcile Teradata's actual and projected results and EPS under GAAP to the Company's actual and projected non-GAAP results and EPS for the periods presented, which exclude certain specified items. Our management internally uses supplemental non-GAAP financial measures, such as gross profit, operating income, net income, and EPS, excluding certain items, to understand, manage and evaluate our business and support operating decisions on a regular basis. The Company believes such non-GAAP financial measures (1) provide useful information to investors regarding the underlying business trends and performance of the Company's ongoing operations, (2) are useful for period-over-period comparisons of such operations and results, that may be more easily compared to peer companies and allow investors a view of the Company's operating results excluding stock-based compensation expense and special items, (3) provide useful information to management and investors regarding present and future business trends, and (4) provide consistency and comparability with past reports and projections of future results.

     

    For the

    Three Months

     

     

     

    For the

    Twelve Months

     

     

    (in millions, except per share data)

    ended December 31

     

     

     

    ended December 31

     

     

    Gross Profit:

     

    2024

     

     

     

    2023

     

     

    % Chg.

     

     

    2024

     

     

     

    2023

     

     

    % Chg.

    GAAP Gross Profit

    $

    243

     

    $

    278

     

    (13

    %)

     

    $

    1,058

     

     

    $

    1,115

     

     

    (5

    %)

    % of Revenue

     

    59.4

    %

     

    60.8

    %

     

     

    60.5

    %

     

     

    60.8

    %

     

     

     

     

     

     

     

     

     

    Excluding:

     

     

     

     

     

     

     

    Stock-based compensation expense

     

    4

     

     

    5

     

     

     

    17

     

     

     

    17

     

     

     

    Reorganization and other costs

     

    2

     

     

    -

     

     

     

    5

     

     

     

    1

     

     

     

    Non-GAAP Gross Profit

    $

    249

     

    $

    283

     

    (12

    %)

     

    $

    1,080

     

     

    $

    1,133

     

     

    (5

    %)

    % of Revenue

     

    60.9

    %

     

    61.9

    %

     

     

    61.7

    %

     

     

    61.8

    %

     

     

     

    Operating Income

     

     

     

     

     

     

     

     

     

     

     

     

    GAAP Operating Income

    $

    39

     

    $

    47

     

    (17

    %)

     

    $

    209

     

     

    $

    186

     

     

    12

    %

    % of Revenue

     

    9.5

    %

     

    10.3

    %

     

     

    11.9

    %

     

     

    10.1

    %

     

     

     

     

     

     

     

     

     

    Excluding:

     

     

     

     

     

     

     

    Stock-based compensation expense

     

    27

     

     

    30

     

     

     

    119

     

     

     

    126

     

     

     

    Reorganization and other costs

     

    6

     

     

    12

     

     

     

    28

     

     

     

    20

     

     

     

    Non-GAAP Operating Income

    $

    72

     

    $

    89

     

    (19

    %)

     

    $

    356

     

     

    $

    332

     

     

    7

    %

    % of Revenue

     

    17.6

    %

     

    19.5

    %

     

     

    20.3

    %

     

     

    18.1

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Net Income/(Loss)

     

     

     

     

     

     

     

     

     

     

     

     

    GAAP Net Income/(Loss)

    $

    25

     

    ($

    7

    )

    -

     

     

    $

    114

     

     

    $

    62

     

     

    84

    %

    % of Revenue

     

    6.1

    %

     

    (1.5

    %)

     

     

    6.5

    %

     

     

    3.4

    %

     

     

     

     

     

     

     

     

     

     

    Excluding:

     

     

     

     

     

     

     

    Stock-based compensation expense

     

    27

     

     

    30

     

     

     

    119

     

     

     

    126

     

     

     

    Reorganization and other costs

     

     

    6

     

     

     

    13

     

     

     

     

     

    28

     

     

     

    21

     

     

     

    Argentina Blue Chip Swap

     

     

    -

     

     

     

    13

     

     

     

     

     

    2

     

     

     

    13

     

     

     

    Income tax adjustments(i)

     

    (6

    )

     

    8

     

     

     

    (25

    )

     

     

    (10

    )

     

     

    Non-GAAP Net Income

     

    $

    52

     

     

    $

    57

     

     

    (9

    %)

     

    $

    238

     

     

    $

    212

     

     

    12

    %

    % of Revenue

     

    12.7

    %

     

    12.5

    %

     

     

    13.6

    %

     

     

    11.6

    %

     

     

     

    For the Three Months

    ended December 31

     

    For the Twelve Months

    ended December 31

     

    2025 Outlook

    Earnings/(Loss) Per Share:

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

     

    2025 Q1

    Guidance

     

    2025 FY

    Guidance

    GAAP Earnings/(Loss) Per Share

    $0.26

     

     

     

    ($0.07

    )

     

     

    $1.16

     

     

     

    $0.61

     

     

    $0.33 - $0.37

     

    $1.05 - $1.15

     

    Excluding:

     

     

     

     

     

     

     

     

     

     

     

    Stock-based compensation expense

     

    0.27

     

     

     

    0.31

     

     

     

    1.21

     

     

     

    1.23

     

     

    0.29

     

     

    1.24

     

    Reorganization and other costs

     

    0.06

     

     

     

    0.13

     

     

     

    0.28

     

     

     

    0.20

     

     

    0.05

     

     

    0.15

     

    Argentina Blue Chip Swap

     

    -

     

     

     

    0.13

     

     

     

    0.02

     

     

     

    0.13

     

     

    -

     

     

    -

     

    Income tax adjustments(i)

     

    (0.06

    )

     

     

    0.08

     

     

     

    (0.25

    )

     

     

    (0.10

    )

     

    (0.12

    )

     

    (0.29

    )

    Impact of dilution(ii)

     

    -

     

     

     

    (0.02

    )

     

     

    -

     

     

     

    -

     

     

    -

     

     

    -

     

    Non-GAAP Diluted Earnings Per Share

    $0.53

     

     

     

    $0.56

     

     

     

    $2.42

     

     

     

    2.07

     

     

    $0.55 - $0.59

     

    $2.15- $2.25

    i.

    Represents the income tax effect of the pre-tax adjustments to reconcile GAAP to Non-GAAP income based on the applicable jurisdictional statutory tax rate of the underlying item. Including the income tax effect assists investors in understanding the tax provision associated with those adjustments and the effective tax rate related to the underlying business and performance of the Company's ongoing operations. As a result of these adjustments, the Company's non-GAAP effective tax rate for the three months ended December 31, 2024, was 17.5% and December 31, 2023, was 26.9%. For the twelve months ended December 31, 2024, was 24.0% and December 31, 2023, was 23.5%. In addition, for the first quarter and full year 2025, we included a discrete tax adjustment of ($0.06) for the expected reversal of tax reserves due to the final settlement of an IRS audit in the first quarter of 2025.

    ii.

    Represents the impact to earnings per share as a result of moving from basic to diluted shares.

    3.

    As described below, the Company believes that free cash flow is a useful non-GAAP measure for investors. Free cash flow does not have a uniform definition under GAAP in the United States and therefore, Teradata's definition may differ from other companies' definitions of this measure. Teradata defines free cash flow as cash provided by/used in operating activities, less total capital expenditures. Teradata's management uses free cash flow to assess the financial performance of the Company and believes it is useful for investors because it relates the operating cash flow of the Company to the capital that is spent to continue and improve business operations. In particular, free cash flow indicates the amount of cash generated after capital expenditures which can be used for among other things, investments in the Company's existing businesses, strategic acquisitions, strengthening the Company's balance sheet, repurchase of Company stock and repay the Company's debt obligations. Free cash flow does not represent the residual cash flow available for discretionary expenditures since there may be other non-discretionary expenditures that are not deducted from the measure. This non-GAAP measure should not be considered as a substitute for, or superior to, cash flows from operating activities under GAAP.

     

    (in millions)

    For the

    Three Months

     

    For the

    Twelve Months

     

     

     

    ended December 31

     

    ended December 31

     

    Outlook

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

     

    2025

     

     

     

     

     

     

     

    Cash provided by operating activities (GAAP)

    $

    156

     

    $

    176

     

     

    $

    303

     

     

    $

    375

     

     

    $270 to $300

    Less total capital expenditures

     

    (8

    )

     

    (8

    )

     

     

    (26

    )

     

     

    (20

    )

     

    (~20)

    Free Cash Flow (non-GAAP measure)

    $

    148

     

    $

    168

     

     

    $

    277

     

     

    $

    355

     

     

    $250 to $280

    4.

    We are providing an outlook for the 2025 growth rates for public cloud ARR, total ARR, recurring revenue, and total revenue in constant currency to provide better visibility into the underlying growth of the business. Teradata calculates public cloud ARR and total ARR in constant currency by calculating the prior period ending public cloud ARR or total ARR, as applicable, using the current period end currency rates. It is impractical to provide a schedule on currency period end rates at a future point in time. Teradata calculates recurring revenue and total revenue in constant currency by using the prior-period results with the current-year monthly average currency rates. See the foreign currency fluctuation schedule on the Investor Relations page of the Company's website at investor.teradata.com to calculate the anticipated impact of currency on the revenue outlook.

    Note to Investors

    This release contains forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934. Forward-looking statements generally relate to opinions, beliefs, and projections of expected future financial and operating performance, business trends, liquidity, and market conditions, among other things. These forward-looking statements are based upon current expectations and assumptions and often can be identified by words such as "expect," "strive," "looking ahead," "outlook," "guidance," "forecast," "anticipate," "continue," "plan," "estimate," "believe," "focus," "see," "commit," "should," "project," "will," "would," "likely," "intend," "potential," or similar expressions. Forward-looking statements in this release include our 2025 first quarter and full year 2025 financial outlook and the transition of our Chief Financial Officer. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially, including those relating to: the global economic environment and business conditions in general, including inflation and/or recessionary conditions; the ability of our suppliers to meet their commitments to us; the timing of purchases, migrations, or expansions by our current and potential customers, including our ability to retain customers; the rapidly changing and intensely competitive nature of the information technology industry, the data analytics business, and artificial intelligence capabilities; fluctuations in our operating, capital allocation, and cash flow results; our ability to execute and realize the anticipated benefits of our refreshed brand, business transformation program or restructuring, sales and operational execution initiatives, and cost saving initiatives, including the 2024 restructuring actions; risks inherent in operating in foreign countries, including sanctions, foreign currency fluctuations, and/or acts of war; risks associated with data privacy, cyberattacks and maintaining secure and effective products for our customers, as well as, internal information technology and control systems; the timely and successful development, production or acquisition, availability and/or market acceptance of new and existing products, product features and services, including for artificial intelligence; tax rates; turnover of our workforce and the ability to attract and retain skilled employees; protecting our intellectual property; availability and successful execution of new alliance and acquisition opportunities; subscription arrangements that may be cancelled or fail to be renewed; the impact on our business and financial reporting from the implementation of a new ERP system and changes in accounting rules; and other factors described from time to time in Teradata's filings with the U.S. Securities and Exchange Commission, including its most recent annual report on Form 10-K, and subsequent quarterly reports on Forms 10-Q or current reports on Forms 8-K, as well as Teradata's annual report to stockholders. Teradata does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    About Teradata

    At Teradata, we believe that people thrive when empowered with trusted information. We offer the most complete cloud analytics and data platform for AI. By delivering harmonized data and trusted AI, we enable more confident decision-making, unlock faster innovation, and drive the impactful business results organizations need most. See how at Teradata.com.

    The Teradata logo is a trademark, and Teradata is a registered trademark of Teradata Corporation and/or its affiliates in the U.S. and worldwide.

    Schedule A

     
    TERADATA CORPORATION
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (in millions, except per share amounts - unaudited)
     
    For the Period Ended December 31

    Three Months

     

    Twelve Months

     

    2024

     

     

     

    2023

     

     

    % Chg

     

     

    2024

     

     

     

    2023

     

     

    % Chg

    Revenue
     
    Recurring

    $

    351

     

    $

    372

     

    (6

    %)

    $

    1,479

     

    $

    1,492

     

    (1

    %)

    Perpetual software licenses, hardware and other

     

    3

     

     

    12

     

    (75

    %)

     

    23

     

     

    45

     

    (49

    %)

    Consulting services

     

    55

     

     

    73

     

    (25

    %)

     

    248

     

     

    296

     

    (16

    %)

     
    Total revenue

     

    409

     

     

    457

     

    (11

    %)

     

    1,750

     

     

    1,833

     

    (5

    %)

     
    Gross profit
     
    Recurring

     

    243

     

     

    264

     

     

    1,038

     

     

    1,074

     

    % of Revenue

     

    69.2

    %

     

    71.0

    %

     

    70.2

    %

     

    72.0

    %

    Perpetual software licenses, hardware and other

     

    (2

    )

     

    4

     

     

    -

     

     

    7

     

    % of Revenue

     

    (66.7

    %)

     

    33.3

    %

     

    0.0

    %

     

    15.6

    %

    Consulting services

     

    2

     

     

    10

     

     

    20

     

     

    34

     

    % of Revenue

     

    3.6

    %

     

    13.7

    %

     

    8.1

    %

     

    11.5

    %

     
    Total gross profit

     

    243

     

     

    278

     

     

    1,058

     

     

    1,115

     

    % of Revenue

     

    59.4

    %

     

    60.8

    %

     

    60.5

    %

     

    60.8

    %

     
    Selling, general and administrative expenses

     

    136

     

     

    159

     

     

    565

     

     

    635

     

    Research and development expenses

     

    68

     

     

    72

     

     

    284

     

     

    294

     

     
    Income from operations

     

    39

     

     

    47

     

     

    209

     

     

    186

     

    % of Revenue

     

    9.5

    %

     

    10.3

    %

     

    11.9

    %

     

    10.1

    %

     
    Other expense, net

     

    (9

    )

     

    (25

    )

     

    (45

    )

     

    (69

    )

     
    Income before income taxes

     

    30

     

     

    22

     

     

    164

     

     

    117

     

    % of Revenue

     

    7.3

    %

     

    4.8

    %

     

    9.4

    %

     

    6.4

    %

     
    Income tax expense

     

    5

     

     

    29

     

     

    50

     

     

    55

     

    % Tax rate

     

    16.7

    %

     

    131.8

    %

     

    30.5

    %

     

    47.0

    %

     
    Net income (loss)

    $

    25

     

    $

    (7

    )

    $

    114

     

    $

    62

     

    % of Revenue

     

    6.1

    %

     

    (1.5

    %)

     

    6.5

    %

     

    3.4

    %

     
    Net income (loss) per common share
    Basic

    $

    0.26

     

    $

    (0.07

    )

    $

    1.18

     

    $

    0.62

     

    Diluted

    $

    0.26

     

    $

    (0.07

    )

    $

    1.16

     

    $

    0.61

     

     
    Weighted average common shares outstanding
    Basic

     

    95.5

     

     

    97.9

     

     

    96.4

     

     

    99.8

     

    Diluted

     

    97.4

     

     

    97.9

     

     

    98.2

     

     

    102.4

     

     

    Schedule B

     
    TERADATA CORPORATION
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (in millions - unaudited)
     

    December 31,

     

    September 30,

     

    December 31,

     

    2024

     

     

     

    2024

     

     

     

    2023

     

    Assets
     
    Current assets
    Cash and cash equivalents

    $

    420

     

    $

    348

     

    $

    486

     

    Accounts receivable, net

     

    234

     

     

    247

     

     

    286

     

    Inventories

     

    18

     

     

    16

     

     

    13

     

    Other current assets

     

    77

     

     

    92

     

     

    84

     

     
    Total current assets

     

    749

     

     

    703

     

     

    869

     

     
    Property and equipment, net

     

    185

     

     

    202

     

     

    239

     

    Right of use assets - operating lease, net

     

    8

     

     

    6

     

     

    9

     

    Goodwill

     

    394

     

     

    399

     

     

    398

     

    Capitalized contract costs, net

     

    46

     

     

    49

     

     

    68

     

    Deferred income taxes

     

    226

     

     

    215

     

     

    221

     

    Other assets

     

    96

     

     

    85

     

     

    69

     

     
    Total assets

    $

    1,704

     

    $

    1,659

     

    $

    1,873

     

     
    Liabilities and stockholders' equity
     
    Current liabilities
    Current portion of long-term debt

    $

    25

     

    $

    25

     

    $

    19

     

    Current portion of finance lease liability

     

    57

     

     

    60

     

     

    66

     

    Current portion of operating lease liability

     

    4

     

     

    4

     

     

    6

     

    Accounts payable

     

    106

     

     

    85

     

     

    100

     

    Payroll and benefits liabilities

     

    111

     

     

    105

     

     

    130

     

    Deferred revenue

     

    512

     

     

    482

     

     

    570

     

    Other current liabilities

     

    115

     

     

    114

     

     

    105

     

     
    Total current liabilities

     

    930

     

     

    875

     

     

    996

     

     
    Long-term debt

     

    455

     

     

    461

     

     

    480

     

    Finance lease liability

     

    30

     

     

    40

     

     

    63

     

    Operating lease liability

     

    5

     

     

    3

     

     

    6

     

    Pension and other postemployment plan liabilities

     

    104

     

     

    96

     

     

    102

     

    Long-term deferred revenue

     

    10

     

     

    13

     

     

    22

     

    Deferred tax liabilities

     

    9

     

     

    8

     

     

    8

     

    Other liabilities

     

    28

     

     

    38

     

     

    61

     

     
    Total liabilities

     

    1,571

     

     

    1,534

     

     

    1,738

     

     
    Stockholders' equity
    Common stock

     

    1

     

     

    1

     

     

    1

     

    Paid-in capital

     

    2,192

     

     

    2,166

     

     

    2,074

     

    Accumulated deficit

     

    (1,913

    )

     

    (1,908

    )

     

    (1,811

    )

    Accumulated other comprehensive loss

     

    (147

    )

     

    (134

    )

     

    (129

    )

     
    Total stockholders' equity

     

    133

     

     

    125

     

     

    135

     

     
    Total liabilities and stockholders' equity

    $

    1,704

     

    $

    1,659

     

    $

    1,873

     

     

    Schedule C

     
    TERADATA CORPORATION
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (in millions - unaudited)
     

    For the Period Ended December 31

    Three Months

     

    Twelve Months

     

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

     

    Operating activities
    Net income (loss)

    $

    25

     

    $

    (7

    )

    $

    114

     

    $

    62

     

     
    Adjustments to reconcile net income (loss) to net cash provided
    by operating activities:
    Depreciation and amortization

     

    22

     

     

    30

     

     

    100

     

     

    116

     

    Stock-based compensation expense

     

    27

     

     

    30

     

     

    119

     

     

    126

     

    Deferred income taxes

     

    (16

    )

     

    (12

    )

     

    (11

    )

     

    (11

    )

    Loss on Blue Chip Swap

     

    1

     

     

    13

     

     

    4

     

     

    13

     

    Changes in assets and liabilities:
    Receivables

     

    13

     

     

    -

     

     

    52

     

     

    78

     

    Inventories

     

    (2

    )

     

    (5

    )

     

    (5

    )

     

    (5

    )

    Current payables and accrued expenses

     

    36

     

     

    16

     

     

    (1

    )

     

    7

     

    Deferred revenue

     

    27

     

     

    99

     

     

    (70

    )

     

    (5

    )

    Other assets and liabilities

     

    23

     

     

    12

     

     

    1

     

     

    (6

    )

     
    Net cash provided by operating activities

     

    156

     

     

    176

     

     

    303

     

     

    375

     

     
    Investing activities
    Expenditures for property and equipment

     

    (7

    )

     

    (8

    )

     

    (24

    )

     

    (19

    )

    Additions to capitalized software

     

    (1

    )

     

    -

     

     

    (2

    )

     

    (1

    )

    Business acquisitions and other investing activities, including loss on Blue Chip Swap

     

    (1

    )

     

    (13

    )

     

    (6

    )

     

    (29

    )

     
    Net cash used in investing activities

     

    (9

    )

     

    (21

    )

     

    (32

    )

     

    (49

    )

     
    Financing activities
    Repurchases of common stock

     

    (29

    )

     

    (7

    )

     

    (215

    )

     

    (308

    )

    Repayments of long-term borrowings

     

    (6

    )

     

    -

     

     

    (19

    )

     

    -

     

    Payments of finance leases

     

    (17

    )

     

    (20

    )

     

    (71

    )

     

    (82

    )

    Other financing activities, net

     

    -

     

     

    1

     

     

    (1

    )

     

    7

     

     
    Net cash used in financing activities

     

    (52

    )

     

    (26

    )

     

    (306

    )

     

    (383

    )

     
    Effect of exchange rate changes on cash and cash equivalents

     

    (22

    )

     

    8

     

     

    (30

    )

     

    (28

    )

     
    Increase (decrease) in cash, cash equivalents and restricted cash

     

    73

     

     

    137

     

     

    (65

    )

     

    (85

    )

    Cash, cash equivalents and restricted cash at beginning of period

     

    348

     

     

    349

     

     

    486

     

     

    571

     

     
    Cash, cash equivalents and restricted cash at end of period

    $

    421

     

    $

    486

     

    $

    421

     

    $

    486

     

     
    Supplemental cash flow disclosure:
    Non-cash investing and financing activities:
    Assets acquired by finance leases

    $

    4

     

    $

    10

     

    $

    29

     

    $

    90

     

    Assets acquired by operating leases

    $

    4

     

    $

    -

     

    $

    5

     

    $

    6

     

     

    Schedule D

     
    TERADATA CORPORATION
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (in millions - unaudited)
     

    For the Three Months Ended December 31

     

    For the Twelve Months Ended December 31

     

    2024

     

     

     

    2023

     

     

    % Change As

    Reported

     

    % Change

    Constant

    Currency (2)

     

     

    2024

     

     

     

    2023

     

     

    % Change As

    Reported

     

    % Change

    Constant

    Currency (2)

    Segment Revenue
     
    Product Sales

    $

    354

     

    $

    384

     

    (8

    %)

    (6

    %)

    $

    1,502

     

    $

    1,537

     

    (2

    %)

    (1

    %)

    Consulting Services

     

    55

     

     

    73

     

    (25

    %)

    (21

    %)

     

    248

     

     

    296

     

    (16

    %)

    (13

    %)

     
     
    Total segment revenue

     

    409

     

     

    457

     

    (11

    %)

    (9

    %)

     

    1,750

     

     

    1,833

     

    (5

    %)

    (3

    %)

     
    Segment gross profit
     
    Product Sales

     

    244

     

     

    271

     

     

    1,049

     

     

    1,091

     

    % of Revenue

     

    68.9

    %

     

    70.6

    %

     

    69.8

    %

     

    71.0

    %

    Consulting Services

     

    5

     

     

    12

     

     

    31

     

     

    42

     

    % of Revenue

     

    9.1

    %

     

    16.4

    %

     

    12.5

    %

     

    14.2

    %

     
    Total segment gross profit

     

    249

     

     

    283

     

     

    1,080

     

     

    1,133

     

    % of Revenue

     

    60.9

    %

     

    61.9

    %

     

    61.7

    %

     

    61.8

    %

     
    Reconciling items(1)

     

    (6

    )

     

    (5

    )

     

    (22

    )

     

    (18

    )

     
    Total gross profit

    $

    243

     

    $

    278

     

    $

    1,058

     

    $

    1,115

     

    % of Revenue

     

    59.4

    %

     

    60.8

    %

     

    60.5

    %

     

    60.8

    %

     

    (1)

    Reconciling items include stock-based compensation, amortization of acquisition-related intangible assets and acquisition, integration and reorganization-related items.

    (2)

    The impact of currency is determined by calculating the prior period results using the current-year monthly average currency rates.

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20250207306941/en/

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    • Teradata Corporation filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits

      8-K - TERADATA CORP /DE/ (0000816761) (Filer)

      5/5/25 4:42:16 PM ET
      $TDC
      Computer Software: Prepackaged Software
      Technology

    $TDC
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

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    • Teradata downgraded by Northland Capital with a new price target

      Northland Capital downgraded Teradata from Outperform to Market Perform and set a new price target of $21.00

      5/7/25 8:37:12 AM ET
      $TDC
      Computer Software: Prepackaged Software
      Technology
    • Teradata upgraded by Morgan Stanley with a new price target

      Morgan Stanley upgraded Teradata from Equal-Weight to Overweight and set a new price target of $26.00

      4/8/25 9:17:42 AM ET
      $TDC
      Computer Software: Prepackaged Software
      Technology
    • Teradata downgraded by JMP Securities

      JMP Securities downgraded Teradata from Mkt Outperform to Mkt Perform

      8/6/24 6:26:10 AM ET
      $TDC
      Computer Software: Prepackaged Software
      Technology

    $TDC
    Leadership Updates

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    • Teradata Appoints John Ederer as Chief Financial Officer

      Tenured CFO brings strong corporate experience with high-growth software companies Teradata (NYSE: TDC) today announced the appointment of John Ederer as Chief Financial Officer, effective May 12, 2025. Drawing on his extensive expertise as a strategic finance leader with deep knowledge of the software industry, Ederer will be responsible for leading Teradata's financial organization – including accounting and reporting, corporate development, financial planning and analysis, internal audit and controls, investor relations, tax, and treasury. Ederer will be a member of the Company's Executive Leadership Team, reporting to Teradata President and Chief Executive Officer, Steve McMillan. This

      5/5/25 4:40:00 PM ET
      $TDC
      Computer Software: Prepackaged Software
      Technology
    • Teradata Appoints Sumeet Arora as Chief Product Officer

      AI executive to lead Teradata's Product organization Teradata Corporation (NYSE: TDC) today announced that Sumeet Arora, former Chief Development Officer in charge of global engineering and product at data analytics company ThoughtSpot, will be joining Teradata as its Chief Product Officer on April 28, 2025. In this role, Arora will be responsible for defining and executing the strategy and roadmap for Teradata's evolving product portfolio, while leading the product and engineering teams to ensure maximum innovation, performance, and efficiency. Arora will report to Steve McMillan, Teradata's President and Chief Executive Officer. Most recently Arora was at ThoughtSpot, an industry leadin

      4/22/25 4:05:00 PM ET
      $TDC
      Computer Software: Prepackaged Software
      Technology
    • DoorDash, TKO Group Holdings, Williams-Sonoma and Expand Energy Set to Join S&P 500; Others to Join S&P 100, S&P MidCap 400 and S&P SmallCap 600

      NEW YORK, March 7, 2025 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 100, S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, March 24, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P 100 are more representative of the mega-cap market space. All companies being added to the S&P 500 are more representative of the large-cap market space, all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P

      3/7/25 6:19:00 PM ET
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      Air Freight/Delivery Services
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    $TDC
    Insider Trading

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    • SEC Form 3 filed by new insider Arora Sumeet

      3 - TERADATA CORP /DE/ (0000816761) (Issuer)

      5/7/25 4:25:50 PM ET
      $TDC
      Computer Software: Prepackaged Software
      Technology
    • Chief Revenue Officer Petley Richard J covered exercise/tax liability with 5,322 shares, decreasing direct ownership by 4% to 145,644 units (SEC Form 4)

      4 - TERADATA CORP /DE/ (0000816761) (Issuer)

      4/8/25 5:00:38 PM ET
      $TDC
      Computer Software: Prepackaged Software
      Technology
    • Interim Chief Financial Ofcr Smotherman Charles T was granted 86,281 shares, increasing direct ownership by 304% to 114,618 units (SEC Form 4)

      4 - TERADATA CORP /DE/ (0000816761) (Issuer)

      3/27/25 4:59:29 PM ET
      $TDC
      Computer Software: Prepackaged Software
      Technology