Friday, May 13, 2011

Cornerstone Sees Strong Growth In Q1

Santa Monica-based Cornerstone OnDemand, the newly public developer of talent and learning management software, has reported its first quarter 2011 results, saying it saw a 63 percent, year-over-year increase in revenues for the first quarter. The firm said it had a total revenue of $15.7M for the quarter. Cornerstone OnDemand, which is headed by Adam Miller, hit the market in its IPO debut on the NASDAQ Global Market as CSOD on March 17th. The firm reported a loss from operations for the first quarter of $4.6M, which the firm said is due to increased investments in scaling its operations.