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Dec 31, 2023
Confluent Q4 2023 Earnings Report
Confluent's Q4 2023 financial results were announced, revealing a strong close to the fiscal year with significant growth in Confluent Cloud revenue and subscription revenue.
Key Takeaways
Confluent reported a 26% year-over-year increase in total revenue for Q4 2023, reaching $213 million. Confluent Cloud revenue grew by 46% year over year, marking the first $100 million quarter for Confluent Cloud. The company achieved a positive non-GAAP operating margin in Q4.
Total revenue for Q4 2023 reached $213 million, a 26% increase year-over-year.
Subscription revenue for Q4 2023 grew by 31% year-over-year, amounting to $203 million.
Confluent Cloud revenue for Q4 2023 increased by 46% year-over-year, reaching $100 million.
The company reported 1,229 customers with $100,000 or greater in ARR, a 21% increase year-over-year.
Revenue by Segment
Forward Guidance
For Q1 2024, Confluent anticipates total revenue between $211 million and $212 million, subscription revenue between $199 million and $200 million, a non-GAAP operating margin of approximately negative 4%, and non-GAAP net income per diluted share between $0.00 and $0.02. For fiscal year 2024, the company expects total revenue of approximately $950 million, a non-GAAP operating margin of approximately 0%, and non-GAAP net income per diluted share of approximately $0.17.
Positive Outlook
- Total revenue between $211 million and $212 million for Q1 2024
- Subscription revenue between $199 million and $200 million for Q1 2024
- Non-GAAP operating margin of approximately negative 4% for Q1 2024
- Non-GAAP net income per diluted share between $0.00 to $0.02 for Q1 2024
- Total revenue of approximately $950 million for fiscal year 2024
Challenges Ahead
- Non-GAAP operating margin of approximately 0% for fiscal year 2024
- Non-GAAP net income per diluted share of approximately $0.17 for fiscal year 2024
Historical Earnings Impact
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Avg. Return Before/After Earnings
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