HashiCorp, Inc.
hashicorp.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2025 10-Q, filed Dec 5, 2024. Its latest SEC filing is a SCHEDULE 13G/A from May 15, 2025.
10-Q for Q3 FY2025, filed Dec 5, 2024
The sections below describe the company as of the FY2024 annual report.
What Did They Do?
Sells software for automating cloud infrastructure and security workflows to organizations operating public, private, and hybrid cloud environments.
10-K for FY2024, filed Mar 21, 2024Organizations today are undergoing a digital transformation across every business function, driven by competition and ever-increasing…View ↗
Terraform is our infrastructure provisioning product that allows users to easily set up and manage IT infrastructure. Terraform enables IT…View ↗
Today, our software is predominantly self-managed by users and customers who deploy it across public, private, and hybrid cloud…View ↗
How Did They Make Money?
Organizations pay for subscriptions to proprietary software features and support. Self-managed subscriptions are generally billed annually in advance; cloud customers pay for annual subscriptions or for measured consumption, generally billed in advance for committed use.
10-K for FY2024, filed Mar 21, 2024Our primary products are based on a combination of our free, source available community products and our proprietary software. We are…View ↗
We generate revenue primarily from sales of subscriptions to our software. We offer an enterprise-ready, self-managed software offering…View ↗
For our self-managed offerings, we offer various tiers that provide different levels of access to our proprietary products, modules, and…View ↗
HCP customers use our offering on a consumption-based model, or purchase annual subscription contracts. Customers who are on…View ↗
$583.1M
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10-K for FY2024, filed Mar 21, 2024
$583.1M ↗
Who Were Their Customers?
Organizations of all sizes buy the software. Enterprise sales teams sell directly, while systems integrators and resellers facilitate transactions; smaller and mid-market businesses can use a self-service cloud offering.
10-K for FY2024, filed Mar 21, 2024We sell to organizations of all sizes across a broad range of industries, with a particular focus on enterprises that are managing and…View ↗
Our sales and marketing strategy combines the best of customer self-service with our direct sales approach. Our source available model…View ↗
Our sales efforts build on our wide open-source reach and are driven by an enterprise sales force that focuses on the world’s largest…View ↗
In addition, we partner with global and regional systems integrators and resellers to facilitate transactions and provide scalable service…View ↗
Did Revenues Turn Into Profits?
No. It lost $190.7M in FY2024.
10-K for FY2024, filed Mar 21, 2024
−$190.7MView ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q3 FY2025, filed Dec 6, 2024
−$13MView ↗
- ▼ −67% (Loss)
- vs −$39.5M in Q3 FY2024
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Feb 27, 2025
IBM completed its acquisition of HashiCorp
HashiCorp became a wholly owned IBM subsidiary, and its common stock was delisted from Nasdaq.
Sources
8-K, filed Feb 27, 2025
ARMONK, N.Y., February 27, 2025 – IBM (NYSE: IBM) today announced it has completed its acquisition of HashiCorp, whose products automate…View ↗
Grew. Revenue grew 4.8x in 4 years, from $121.3M in FY2020 to $583.1M in FY2024, about 48% a year.
Who Did They Compete With?
Competes with AWS, Microsoft Azure, Google Cloud Platform, CyberArk, VMware, IBM, and Google Istio
10-K for FY2024, filed Mar 21, 2024For select companies adopting a single-cloud solution, we compete with the well-established public cloud providers such as AWS and their…View ↗
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