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Sep 30, 2021
Confluent Q3 2021 Earnings Report
Confluent's revenue increased significantly, driven by strong growth in Confluent Cloud and a high dollar-based net retention rate.
Key Takeaways
Confluent announced its Q3 2021 financial results, reporting a total revenue of $103 million, up 67% year-over-year. Confluent Cloud revenue grew by 245% year-over-year, reaching $27 million. The company's remaining performance obligations increased by 75% year-over-year to $385 million, and it had 664 customers with $100,000 or greater in ARR, a 48% increase year-over-year.
Total revenue reached $103 million, a 67% increase year-over-year.
Confluent Cloud revenue grew by 245% year-over-year to $27 million.
Remaining performance obligations increased by 75% year-over-year to $385 million.
Customers with $100,000 or greater in ARR increased by 48% year-over-year, reaching 664.
Confluent
Confluent
Forward Guidance
For the fourth quarter of 2021, Confluent expects total revenue of $108-$110 million and a non-GAAP operating loss of $(59)-$(57) million. For the full fiscal year 2021, Confluent expects total revenue of $376-$378 million and a non-GAAP operating loss of $(170)-$(168) million.
Positive Outlook
- Total revenue is expected to be between $108 million and $110 million.
- Non-GAAP operating loss is projected to be between $(59) million and $(57) million.
- Non-GAAP net loss per share is expected to be between $(0.23) and $(0.21).
- Total revenue is anticipated to be between $376 million and $378 million for the full year.
- Non-GAAP operating loss is projected to be between $(170) million and $(168) million for the full year.
Challenges Ahead
- Non-GAAP operating loss is expected for Q4 2021.
- Non-GAAP net loss per share is expected for Q4 2021.
- A reconciliation of forward-looking non-GAAP operating loss and non-GAAP net loss per share to the most directly comparable GAAP measures is not available without unreasonable effort.
- Stock-based compensation expense specific to equity compensation awards and employer payroll tax-related items on employee stock transactions are directly impacted by the timing of employee stock transactions and unpredictable fluctuations in our stock price.
- These factors are expected to have a significant impact on our future GAAP financial results.