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Cornerstone OnDemand Announces
Third Quarter 2014 Financial Results

Record quarterly revenue of $68.3 million, up 42% year-over-year

Record quarterly gross profit of $48.9 million, up 41% year-over-year

Record client additions, ending the quarter with over 1,900 clients.2

SANTA MONICA, Calif. – November 5, 2014 – Talent management software provider Cornerstone OnDemand, Inc. (NASDAQ: CSOD) today announced results for its quarter ended September 30, 2014.

Revenue for the third quarter of 2014 was $68.3 million, representing a 42% increase compared to the same period in 2013.

Bookings, which the Company defines as revenue plus the change in deferred revenue for the period, were $82.1 million for the third quarter of 2014, representing a 31% increase compared to the same period in 2013.1 Bookings for the first nine months of 2014 were $201.8 million, representing a 37% increase compared to the same period in 2013.1 Deferred revenue at September 30, 2014 was $153.5 million, representing a 41% increase compared to the balance at September 30, 2013.

“Our core business remains solid,” said Adam Miller, the company’s President and CEO. “With best-in-class machine learning and predictive analytics capabilities from Evolv complementing our existing products, combined with strong demand from the U.S. and Europe, we expect our core business to continue to grow well into the future.”

Gross profit for the third quarter of 2014 was $48.9 million, representing a 41% increase compared to the same period in 2013. Gross margin for the third quarter of 2014 was 71.6% compared to 71.7% in the third quarter of 2013.

Non-GAAP gross profit for the third quarter of 2014 was $49.9 million, representing a 40% increase compared to the same period in 2013.1 Non-GAAP gross margin for the third quarter of 2014 was 73.1% compared to 73.7% in the third quarter of 2013.1

The Company’s operating loss for the third quarter of 2014 was $(9.9) million, yielding an operating loss margin of (14.5)%, compared to an operating loss of $(8.2) million, yielding an operating loss margin of (17.0)%, in the third quarter of 2013.

Non-GAAP operating income for the third quarter of 2014 was $0.1 million, yielding a non-GAAP operating income margin of 0.2%, compared to a non-GAAP operating loss of $(1.1) million, yielding a non-GAAP operating loss margin of (2.2)%, in the third quarter of 2013.1

The Company’s net loss for the third quarter of 2014 was $(14.3) million, yielding a net loss margin of (20.9)%, or a $(0.27) net loss per share, compared to a net loss of $(11.1) million, yielding a net loss margin of (22.9)%, or a $(0.21) net loss per share, in the third quarter of 2013.

Non-GAAP net loss for the third quarter of 2014 was $(2.2) million, yielding a non-GAAP net loss margin of (3.2)%, or a $(0.04) non-GAAP net loss per share, compared to a non-GAAP net loss of $(1.9) million, yielding a non-GAAP net loss margin of (4.0)%, or a $(0.04) non-GAAP net loss per share, in the third quarter of 2013.1

At September 30, 2014, the Company’s total cash and cash equivalents were $104.0 million, investments were $183.7 million, and accounts receivable were $86.9 million, yielding a total of approximately $374.5 million.

The Company ended the quarter with over 16.6 million users, representing the addition of approximately 1.1 million users.2

1

Bookings, non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income (loss), non-GAAP operating income (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, formerly known as Cornerstone for Small Business.

Quarterly Conference Call

Cornerstone OnDemand, Inc. will host a conference call to discuss its third quarter 2014 results at 2:00 p.m. PST (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: 29590007. A replay of the call will also be available at http://investors.cornerstoneondemand.com/events.cfm or via telephone until 11:59 p.m. PST on November 8, 2014 by dialing (855) 859-2056 (U.S.) or (404) 537-3406 (outside the U.S.), and referencing passcode: 29590007.

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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