People development solution provider Cornerstone OnDemand, Inc. (NASDAQ: CSOD) today announced results 1 for its second quarter ended June 30, 2020. The Company has provided supplemental financial information located on its Investor Relations website. On April 22, 2020, the Company acquired Saba Software, Inc. ("Saba"); the below discussion includes Saba's results for the post-acquisition period. Second Quarter 2020 Results: Revenue for the second quarter of 2020 was $184.4 million. This represents a 30.0% increase compared to the same period of the prior year. Without giving effect to the acquisition of Saba, revenue would have increased 9.2% (approximately one percentage point higher on a constant currency basis). Subscription revenue for the second quarter of 2020 was $177.2 million. This represents a 33.7% increase compared to the same period of the prior year. Without giving effect to the acquisition of Saba, subscription revenue would have increased 13.4% (approximately one...

Cornerstone OnDemand (NASDAQ:CSOD), a global leader in people development solutions, announced today that Brian Swartz, Chief Financial Officer (CFO), will leave the company effective Aug. 14 to pursue another opportunity. The company is launching a search for a successor. In the meantime, Trish Coughlin, Cornerstone’s Chief Accounting Officer since January 2019 , will serve as interim CFO. Coughlin brings more than 25 years of experience to her new role with previous finance positions at Workday, Goldman Sachs and Co., Honeywell and PricewaterhouseCoopers. “I have quickly come to appreciate Brian’s intelligence, tenacity and strategic thinking and will miss his partnership. We are grateful for his significant contribution to Cornerstone and wish him well in this next phase of his professional journey,” said Phil Saunders, Chief Executive Officer, Cornerstone. “I am also looking forward to my first quarterly earnings call next month and discussing our company’s future.” “I am thankful...

Cornerstone OnDemand, Inc. (“Cornerstone”) (NASDAQ: CSOD), a global leader in people development solutions, today announced that it will host its 2020 annual meeting of stockholders (the “Annual Meeting”) on June 25, 2020, at 1 p.m. Pacific Time in a virtual-only meeting format. Due to the ongoing public health impact of the COVID-19 pandemic, and to support the health and well-being of employees, directors and stockholders, Cornerstone no longer intends to hold its Annual Meeting in person. Stockholders of record as of the close of business on April 27, 2020, the record date for the Annual Meeting, can attend the Annual Meeting via the internet at www.virtualshareholdermeeting.com/CSOD2020 . Stockholders that would like to participate in the Annual Meeting can do so by using the 16-digit control number included on the proxy card, the voting instruction form or notice previously distributed. Stockholders that hold their shares through a bank, securities broker, dealer or other nominee...

Cornerstone OnDemand, Inc. (NASDAQ: CSOD), a global leader in people development solutions, today announced that after 20 years as founder and Chief Executive Officer of Cornerstone, Adam Miller will become co-chair of the Cornerstone Board of Directors. The board has appointed Phil Saunders, the former CEO of Saba Software, to serve as Cornerstone’s new CEO effective June 15, 2020. “I founded Cornerstone with a mission to help educate the world, and we have never wavered from that goal,” said Adam Miller. “Cornerstone has brought learning to millions of people around the globe and has become one of the world’s largest cloud computing companies in the process. I am proud of all that we have accomplished, and after two decades, I am excited to commit more fully to my passion for social entrepreneurship and public service. I'm confident that Phil is the right leader to continue building on our mission and to help our clients prepare for the new world of work. As co-chair with Elisa...

Cornerstone OnDemand, Inc. (NASDAQ: CSOD), a global leader in people development solutions, today announced the closing of its acquisition of Saba Software, a global leader in talent experience solutions and a portfolio company of Vector Capital. In light of current market conditions, the total transaction value has been reduced from $1.395 billion at the time of announcement to approximately $1.295 billion at closing. Cornerstone will share detailed financial and operational updates during an expanded first quarter earnings call on May 11, 2020. About Cornerstone Cornerstone is the world’s premier people development company. We believe people can achieve anything when they have the right development and growth opportunities. We offer organizations the technology, content, expertise and specialized focus to help them realize the potential of their people. Featuring comprehensive recruiting, personalized learning, modern training content, development-driven performance management and...