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Cornerstone OnDemand Announces First Quarter 2015 Financial Results

Record first quarter revenue of $74.0 million, up 29% year-over-year

Record first quarter bookings of $63.5 million, up 28% year-over-year1

Ended the quarter with over 2,200 clients and over 19.1 million users2

SANTA MONICA, Calif. – May 6, 2015 – Talent management software provider Cornerstone OnDemand, Inc. (NASDAQ: CSOD) today announced results for its quarter ended March 31, 2015.

Revenue for the first quarter of 2015 was $74.0 million, representing a 29% increase compared to the same period in 2014. Non-GAAP revenue for the first quarter of 2015 was $74.4 million, representing a 30% increase compared to the same period in 2014.1

Bookings, which the Company defines as revenue plus the change in deferred revenue for the period, were $63.5 million for the first quarter of 2015, representing a 28% increase compared to the same period in 2014.1 Deferred revenue at March 31, 2015 was $180.9 million, representing a 38% increase compared to the balance at March 31, 2014.

“We had a solid first quarter, including strong results from Asia Pacific,” said Adam Miller, the Company’s President and CEO. “With the state-of-the-art analytics capabilities and platform-as-a-service offering that will be unveiled at our annual client conference next week, we believe we are poised to begin our Second Act in transforming the way organizations empower people to realize their potential.”

The Company's operating loss for the first quarter of 2015 was $(17.7) million, yielding an operating loss margin of (24)%, compared to an operating loss of $(12.7) million, yielding an operating loss margin of (22)%, for the first quarter of 2014.

Non-GAAP operating loss for the first quarter of 2015 was $(5.8) million, yielding a non-GAAP operating loss margin of (8)%, compared to a non-GAAP operating loss of $(4.0) million, yielding a non-GAAP operating loss margin of (7)%, for the first quarter of 2014.1

The Company's net loss for the first quarter of 2015 was $(23.3) million, yielding a net loss margin of (31)%, or a $(0.43) net loss per share, compared to a net loss of $(15.8) million, yielding a net loss margin of (28)%, or a $(0.30) net loss per share, for the first quarter of 2014.

Non-GAAP net loss for the first quarter of 2015 was $(9.3) million, yielding a non-GAAP net loss margin of (12)%, or a $(0.17) non-GAAP net loss per share, compared to a non-GAAP net loss of $(5.1) million, yielding a non-GAAP net loss margin of (9)%, or a $(0.10) non-GAAP net loss per share, for the first quarter of 2014.1

The Company ended the quarter with over 2,200 clients and over 19.1 million users.2

1

Bookings, non-GAAP revenue, non-GAAP operating loss, non-GAAP operating loss margin, non-GAAP net loss, non-GAAP net loss margin, and non-GAAP net loss per share are non-GAAP financial measures. Please see the discussion in the section "Non-GAAP Financial Measures" and the reconciliations at the end of this release.

2

Includes contracted clients and active users of our Enterprise and Mid-Market solution, excluding Cornerstone for Salesforce and Cornerstone Growth Edition.

Cornerstone OnDemand, Inc. will host a conference call to discuss its first quarter 2015 results at 2:00 p.m. PT (5:00 p.m. ET) today. A live audio webcast of the conference call, together with detailed financial information, can be accessed through the Company's Investor Relations Web site at http://investors.cornerstoneondemand.com/events.cfm. The live call can be accessed by dialing (877) 445-4619 (U.S.) or (484) 653-6763 (outside the U.S.) and referencing passcode: 23631708. A replay of the call will also be available at http://investors.cornerstoneondemand.com/events.cfm or via telephone until 11:59 p.m. PT on May 9, 2015 by dialing (855) 859-2056 (U.S.) or (404) 537-3406 (outside the U.S.), and referencing passcode: 23631708.

A propos de Cornerstone OnDemand

Cornerstone OnDemand (NASDAQ : CSOD) est l’un des leaders des logiciels cloud de gestion de la formation et du capital humain. Recrutement, intégration, formation, gestion de la performance et de la rémunération, plans de succession, gestion des données RH, gestion des effectifs et analytique RH : la plateforme est pensée pour développer pleinement le potentiel des organisations et des personnes.

Plus de 3 250 clients et plus de 36 millions d’utilisateurs utilisent aujourd’hui le logiciel de Cornerstone OnDemand, dans 192 pays et en 43 langues.

Pour en savoir plus, rendez-vous sur Cornerstone, ou sur Twitter.

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