Confluent Inc
CFLT
ISIN US20717M1036 / Valor 111960750
Confluent Inc
UMushroom community rating:
About company
Confluent Inc, founded in Silicon Valley, is a company that focuses on providing a cloud-native platform for real-time data processing. Their platform serves as a central nervous system for companies, allowing them to connect all their applications around real-time streams and react intelligently to events in their business. This enables companies to make data-driven decisions and respond quickly to changes in their environment.
Summarized from source with an LLMView SourceSector: TechnologyLatest Results (20.08.2024):
Subscription Revenue Growth
In the second quarter of 2024, Confluent Inc. reported a subscription revenue of $224.7 million, marking a 27% increase compared to the same period in 2023. This growth underscores the company's expanding customer base and the increasing adoption of its data streaming platform.
Confluent Cloud Revenue Surge
Confluent Cloud revenue reached $117 million in Q2 2024, representing a significant 40% year-over-year growth. This surge highlights the strong demand for Confluent's cloud-based solutions and the company's successful transition towards a consumption-based model.
Customer Milestone
Confluent Inc. achieved a milestone of 1,306 customers with $100,000 or greater in Annual Recurring Revenue (ARR) in the second quarter of 2024, reflecting a 14% increase from the previous year. This growth indicates the company's ability to attract and retain high-value customers.
Improved Operating Margins
Confluent Inc. reported a GAAP operating loss of $108.3 million in Q2 2024, an improvement from the $119.4 million loss in Q2 2023. The non-GAAP operating income turned positive at $1.3 million, compared to a loss of $17.3 million in the same quarter last year, showcasing better operational efficiency.
Positive Cash Flow
For the second quarter of 2024, Confluent Inc. generated a free cash flow of $2.7 million, a significant turnaround from the negative $35.2 million in Q2 2023. This positive cash flow reflects the company's focus on driving efficient growth and achieving financial sustainability.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
5201 M
Market cap (USD)
962,335
Daily traded volume (Shares)
21 / 20.27
1 day high/low (USD)
52 weeks high/low (USD)
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Ratings & reviews
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