According to a recently published report, the global cloud integration software market is expected to grow at CAGR of 12% through 2020 – 2025. Open source integration software vendor Talend (Nasdaq: TLND) recently reported its third quarter results. The company is focusing on expanding its data trust solutions to ensure that its consumers have access to reliable data.

Talend’s Financials

Talend’s revenues grew 16% to $72.7 million, ahead of the market’s forecast of $69.84 million. GAAP net loss was $20.3 million, compared with a loss of $13.5 million a year ago. On an adjusted basis, net loss was $0.16 per share, compared with a net loss of $0.37 per share forecast by the market.

By segment, subscription revenues grew 20% over the year to $66 million. Professional services revenues dropped to $6.7 million from $7.5 million a year ago.

Among other key metrics, Annual Recurring Revenue grew 20% over the year to $268.9 million. Cloud ARR improved 113% over the year to $87.9 million. Dollar-based net expansion rate came in at 107% on a constant currency basis.

For the fourth quarter, Talend forecast revenues of $74.2-$75.2 million with a loss of $0.32-$0.29 per share. The market was looking for revenues of $74.89 million with a loss of $0.30 per share. For the year, Talend forecast revenues of $282.2-$283.3 million with a loss of $0.85-$0.82 per share. The market was looking for revenues of $283.33 million with a loss of $0.83 per share.

Talend’s Growth Focus

During the quarter, Talend announced the extension of its data trust capability, Talend Trust Score. The extension enables customers to gain more confidence in data, thus allowing them to optimize business outcomes and reduce the risk involved in decision making based on faulty information. According to a recent survey conducted by Talend, 70% of the operational data workers that are dealing with company data on a day-to-day basis lacked confidence in their organization’s ability to deliver trusted data. Trust Score will change the perspective of these customers by giving them the ability to easily assess and improve data reliability in the cloud environment.

Recently, Talend also announced an expanded partnership with San Mateo-based Snowflake, a Data Cloud provider. The platform grants Snowflake customers access to Talend Data Fabric and Talend Trust Score. Talend Data Fabric delivers clean and uncompromised data in near real-time through a single platform. By diagnosing and resolving data integrity issues in multi-cloud environments, Talend is able to measure data health as well. The partnership will allow customers to easily access data that can be used for data visualizations for both strategic and operational business decisions. Talend will provide the customers with a clear, digestible view of the trustworthiness of any Snowflake dataset and they will be able to ensure the integrity of Snowflake data warehouse at every stage of the data lifecycle.

Talend’s stock is currently trading at $40.29 with a market cap of $1.28 billion. The stock hit a 52-week low of $18.30 in March. In August, the stock was trading at a 52-week high of $46.80.