As one of the key players in cloud infrastructure, HashiCorp has shown remarkable financial performance in 2024.
Curious about HashiCorp net worth? I’ll dive into its finances, focusing on revenue growth, operating income, and customer impact. Let’s uncover how this cloud giant is performing.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | HashiCorp |
| Full Name | HashiCorp, Inc. |
| Website | https://hashicorp.com |
| Industry | Cloud Infrastructure and Software |
| Traded as | NASDAQ: HCP |
| ISIN | N/A |
| Founded | 2012 |
| Founders | Mitchell Hashimoto Armon Dadgar |
| Country/Territory | United States |
| Headquarters | San Francisco, California |
| Chief Executive Officer | Dave McJannet |
| Number of Employees | N/A |
| Market Cap | $6.87 billion (as of October 2024) |
| Total Assets | $1.69 billion (2024) |
| Total Equity | $1.21 billion (2024) |
| Revenue | $165.1 million (Q2 Fiscal Year 2025) |
| Net Income | $16.8 million (Non-GAAP, Q2 Fiscal Year 2025) |
What is the Net Worth/Market Cap of HashiCorp in 2024?
HashiCorp’s market cap stands strong at $6.87 billion as of October 2024. This valuation places it firmly among some of the influential companies in the tech space.
While it’s not at the very top of the hierarchy of the richest companies, it’s a significant player, particularly in the cloud infrastructure domain.
Its ongoing merger with IBM is expected to affect its net worth substantially, aligning with an enterprise value of $6.4 billion.
Here are a few other companies related to HashiCorp:
- IBM
- Microsoft
- Amazon Web Services (AWS)
- Google Cloud
- Oracle
- Salesforce
- VMware
- Red Hat
- Cisco Systems
- ServiceNow
HashiCorp Financial Performance Overview
Revenue Growth and Financial Performance in Fiscal Year 2025
HashiCorp‘s financial trajectory in fiscal 2025 is marked by growth and stability. The company achieved total revenue of $165.1 million in the second quarter, which is a 15% year-over-year increase.
This growth indicates HashiCorp’s solid position in cloud infrastructure and software services. Contributing factors include an uptick in subscription revenues and an expanding customer base.
Analysis of Product and Service Revenue Streams
Breaking down HashiCorp’s revenue, its primary streams are subscription services, cloud-hosted offerings, and professional services.
The cloud-based offerings are a crucial driver, particularly the HashiCorp Cloud Platform (HCP), which reported a revenue of $26.5 million in the second quarter.
This shows a steady increase from previous quarters, reflecting the growing demand for cloud services. These revenue channels collectively fuel the company’s gross profit and operating income growth.
Impact of Customer Base on Revenue
The customer base of HashiCorp significantly contributes to its revenue. As of Q2 fiscal 2025, the company has a total of 4,709 customers, with 934 of them contributing $100,000 or more in ARR.
Such high-value customers form the majority of HashiCorp’s revenue, making up 89% of the total revenue. The company’s Net Dollar Retention Rate, an indicator of customer loyalty and upselling success, stands at 110%.
This demonstrates consistent and growing customer engagement, ensuring recurring revenue.
Financial Health Through Gross Profit and Operating Income
Its financial health can be seen through its strong gross profit margins. In Q2 fiscal 2025, the company reported a GAAP gross profit of $134.9 million and a non-GAAP gross profit of $139.8 million.
These reflect 82% and 85% gross margins, respectively. The company has also managed to narrow its GAAP operating loss to $43.3 million, while its non-GAAP operating income turned positive at $0.7 million.
Revenue Contribution from Cloud Services
Cloud services continue to play a pivotal role in HashiCorp’s financial performance.
HCP subscription revenues alone amounted to $26.5 million in the second quarter, marking a significant portion of overall revenues.
The company’s focus on cloud-based solutions has allowed it to tap into a growing market segment, thus driving financial performance.
Profitability and Net Income Trends
HashiCorp’s profitability trends have shown remarkable improvement, particularly in the transition from net losses to net income on a non-GAAP basis.
The company recorded a non-GAAP net income of $16.8 million in Q2 fiscal 2025, compared to a net loss of $66.3 million in the same period last year.
This shift highlights the company’s improving financial stability and efficiency in cost management.
Cash Flow and Liquidity Analysis
The liquidity and cash flow of HashiCorp remain strong, with $1.3 billion in cash, cash equivalents, and investments.
Although the company reported a GAAP net cash outflow of $8.6 million in operating activities for the quarter, its non-GAAP free cash flow has improved.
This highlights HashiCorp’s solid cash position and its ability to support ongoing business operations and potential growth opportunities.
Revenue Impact from Mergers and Strategic Partnerships
The merger with IBM is a strategic move poised to impact HashiCorp’s financials.
Once completed, the acquisition is valued at an enterprise value of $6.4 billion.
This partnership not only boosts the company’s valuation but is also expected to drive future revenue growth through synergies and expanded market reach.
Customer Contracts and Remaining Performance Obligations (RPO)
Remaining Performance Obligations (RPO) serve as a forward-looking indicator of revenue.
HashiCorp’s GAAP RPO totals $771.5 million, while the non-GAAP RPO stands at $793.3 million.
These commitments indicate a strong customer pipeline, contributing positively to the company’s future revenue streams.
FAQs about HashiCorp
What is HashiCorp’s Revenue Growth in Fiscal 2025?
Its revenue grew by 15% year-over-year, reaching $165.1 million in Q2 fiscal 2025. The cloud services segment, including the HCP, plays a major role in driving this growth.
How Does HashiCorp’s Customer Base Impact Its Revenue?
Its 4,709 customers significantly impact its revenue. Notably, 934 customers have $100,000 or more in ARR, making up 89% of the total revenue.
How Profitable is HashiCorp?
The company has turned profitable on a non-GAAP basis, reporting a net income of $16.8 million in Q2 fiscal 2025. This is a marked improvement compared to the losses recorded in previous quarters.
What Is HashiCorp’s Gross Profit Margin?
In Q2 fiscal 2025, HashiCorp’s GAAP gross profit margin was 82%, while the non-GAAP gross profit margin stood at 85%.
What is the Significance of HashiCorp’s Merger with IBM?
The merger with IBM, valued at an enterprise value of $6.4 billion, is expected to drive future revenue growth and provide strategic synergies for HashiCorp’s business.
Conclusion
Understanding HashiCorp’s financial journey gives insight into the company’s growth potential and strategic outlook.
Let’s continue the discussion—feel free to leave comments, share your thoughts, or explore more in-depth analyses at Ando Money.
