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Cornerstone OnDemand Announces Third Quarter 2015 Financial Results

Record quarterly revenue of $87.3 million, up 28% year-over-year

Record third quarter bookings of $103.7 million, up 26% year-over-year1

Ended the quarter with over 2,400 clients and approximately 22.2 million users2

SANTA MONICA, Calif. – November 5, 2015 – Talent management software provider Cornerstone OnDemand, Inc. (NASDAQ: CSOD) today announced results for its quarter ended September 30, 2015.

Revenue for the third quarter of 2015 was $87.3 million, representing a 28% increase compared to the same period in 2014.

Non-GAAP revenue for the third quarter of 2015 was $87.4 million, representing a 28% increase compared to the same period in 2014.1

Bookings, which the Company defines as revenue plus the change in deferred revenue for the period, were $103.7 million for the third quarter of 2015, representing a 26% increase compared to the same period in 2014.1 Bookings for the first nine months of 2015 were $258.4 million, representing a 28% increase compared to the same period in 2014.1 Deferred revenue at September 30, 2015 was $206.0 million, representing a 34% increase compared to the balance at September 30, 2014.

"Our third quarter performance again demonstrates our leadership position within learning and talent management, as organizations around the world become increasingly focused on helping their employees realize their potential,” said Adam Miller, the Company’s President and CEO. “Collectively, the size of the market, our competitive positioning, and the strength of our platform, as well as our ability to retain and grow our existing client base, give us confidence in the road ahead as we continue to march towards our goal of achieving $1 billion in revenue."

The Company’s operating loss for the third quarter of 2015 was $(17.0) million, yielding an operating loss margin of (20)%, compared to an operating loss of $(9.9) million, yielding an operating loss margin of (15)%, for the third quarter of 2014.

Non-GAAP operating loss for the third quarter of 2015 was $(1.6) million, yielding a non-GAAP operating loss margin of (2)%, compared to a non-GAAP operating income of $0.1 million, yielding a non-GAAP operating income margin of 0%, for the third quarter of 2014.1

The Company’s net loss for the third quarter of 2015 was $(20.1) million, yielding a net loss margin of (23)%, or a $(0.37) net loss per share, compared to a net loss of $(14.3) million, yielding a net loss margin of (21)%, or a $(0.27) net loss per share, for the third quarter of 2014.

Non-GAAP net loss for the third quarter of 2015 was $(2.5) million, yielding a non-GAAP net loss margin of (3)%, or a $(0.05) non-GAAP net loss per share, compared to a non-GAAP net loss of $(2.2) million, yielding a non-GAAP net loss margin of (3)%, or a $(0.04) non-GAAP net loss per share, for the third quarter of 2014.1

The Company ended the quarter with over 2,400 clients and over 22.2 million users.2

1

Bookings, non-GAAP revenue, non-GAAP operating (loss) income, non-GAAP operating (loss) income 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 titled “Non-GAAP Financial Measures” and the reconciliations at the end of this press release.

2

Includes contracted clients and active users of our Enterprise and Mid-Market solution, excluding Cornerstone for Salesforce and Cornerstone Growth Edition.

Quarterly Conference Call

Cornerstone OnDemand, Inc. will host a conference call to discuss its third quarter 2015 results at 2:00 p.m. PT (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. The live call can be accessed by dialing (877) 445-4619 (U.S.) or (484) 653-6763 (outside the U.S.) and referencing passcode: 55007742. A replay of the call will also be available at http://investors.cornerstoneondemand.com/investors/news-and-events/events/default.aspx or via telephone until 11:59 p.m. PT on November 8, 2015 by dialing (855) 859-2056 (U.S.) or (404) 537-3406 (outside the U.S.), and referencing passcode: 55007742.

About Cornerstone

Cornerstone is a 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 holistic employee data management and insights, Cornerstone’s people development solutions are used by more than 6,000 customers of all sizes, spanning more than 75 million users across over 180 countries and nearly 50 languages. Learn more at www.cornerstoneondemand.com.

Investor Relations Contact

Jason Gold

jgold@csod.com

+1 (310) 526-2531

Media Contact

Deaira Irons

dirons@csod.com

+1 (310) 752-0164
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