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Mar 31, 2023
Confluent Q1 2023 Earnings Report
Confluent reported a strong first quarter, exceeding guided metrics with significant growth in Confluent Cloud revenue and demonstrating the power of their consumption-oriented land and expand strategy.
Key Takeaways
Confluent announced strong Q1 2023 financial results, with total revenue of $174 million, up 38% year-over-year, and Confluent Cloud revenue of $74 million, up 89% year-over-year. The company beat all guided metrics and demonstrated efficient growth and margin performance.
Total revenue reached $174 million, a 38% increase year-over-year.
Confluent Cloud revenue grew by 89% year-over-year, reaching $74 million.
Customers with $100,000 or greater in ARR increased by 34% year-over-year, totaling 1,075 customers.
Remaining performance obligations totaled $743 million, up 35% year-over-year.
Revenue by Segment
Forward Guidance
For the second quarter of 2023, Confluent expects total revenue of $181-$183 million and a non-GAAP operating margin of approximately -16%. For the full fiscal year 2023, the company anticipates total revenue of $760-$765 million and a non-GAAP operating margin between -14% and -13%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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