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Confluent
🇺🇸 NASDAQ:CFLT
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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.

Total Revenue
$103M
Previous year: $61.5M
+66.8%
EPS
-$0.17
Previous year: -$0.616
-72.4%
$100K+ ARR Customers
664
Previous year: 449
+47.9%
Gross Profit
$65.3M
Previous year: $42.4M
+53.8%
Cash and Equivalents
$583M
Free Cash Flow
-$20.6M
Total Assets
$1.31B

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.

Company Overview

Full financial data and analysis

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