2023-12-07 14:10:21 ET
Shares of Teradata ( NYSE: TDC ) on Thursday quickly fell to session lows in afternoon trade, after finance chief Claire Bramley at a conference warned that an eight-figure deal could potentially get pushed out which could impact cloud annual recurring revenue (ARR) guidance.
TDC stock fell as much as 9.5% to a session low of $41.89. It had pared some of its losses and was last down 4.7% to $44.13.
"We've got one I would say large deal ... an eight-figure deal that potentially the timing of that could get pushed out," Bramley said at the Barclays Global Technology Conference.
"It's ... not competitive pressure, not issues we expect to close it, but they, the customer, have seen corporate development action type activity, and so from a timing standpoint they're just looking for new timings," the CFO added.
The executive said that the pushing out of the deal could put Teradata ( TDC ) at the low end or slightly below the range of its previously provided cloud ARR guidance. TDC just over a month ago reaffirmed its full year 2023 public cloud ARR Y/Y growth guidance of 53% to 57%, and total ARR Y/Y growth of 6% to 8%.
San Diego, Calif.-based Teradata ( TDC ) provides a cloud analytics and data platform.
"The deal life cycle is potentially elongating slightly but that doesn't mean you are losing the deals, it just means that the decision making happening at the customer is a little bit longer," Bramley said.
More on Teradata
- Teradata Corporation (TDC) Q3 2023 Earnings Call Transcript
- Teradata: Committed To Return 75% Of Its Free Cash Flow To Shareholders
- Teradata gets Outperform rating at Evercore
- Seeking Alpha’s Quant Rating on Teradata
- Historical earnings data for Teradata
For further details see:
Teradata falls to session low after CFO says an eight-figure deal could be pushed out