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Mar 31, 2023
Informatica Q1 2023 Earnings Report
Informatica reported outstanding first quarter results, exceeding key operating metrics and demonstrating strong growth in cloud subscription ARR.
Key Takeaways
Informatica's Q1 2023 results showcased strong performance with a 41% year-over-year increase in cloud subscription ARR and a 1% increase in GAAP total revenues. The company continues to see momentum with enterprise customers purchasing new cloud workloads and strong customer renewal rates.
Subscription ARR increased 20% year-over-year to $1.02 billion.
Cloud subscription ARR increased 41% year-over-year to $483 million.
GAAP Total Revenues increased 1% year-over-year to $365.4 million.
Cloud subscription net retention rate (NRR) of 118%.
Informatica
Informatica
Informatica Revenue by Segment
Revenue by Segment
Cloud Subscription Revenue
CapyFin.comSelf-managed Subscription Support Revenue
CapyFin.com Forward Guidance
Informatica provided guidance for the second quarter of 2023 and reaffirmed its full-year 2023 guidance.
Positive Outlook
- GAAP Total Revenues are expected to be in the range of $355 million to $365 million for Q2 2023.
- Subscription ARR is expected to be in the range of $1,020 million to $1,030 million for Q2 2023.
- Cloud Subscription ARR is expected to be in the range of $501 million to $507 million for Q2 2023.
- Non-GAAP Operating Income is expected to be in the range of $67 million to $77 million for Q2 2023.
- GAAP Total Revenues are expected to be in the range of $1,570 million to $1,590 million for full year 2023.
Challenges Ahead
- GAAP Total Revenues are expected to decrease approximately 3% year-over-year at the midpoint of the range for Q2 2023.
- Guidance includes the impact from macroeconomic conditions.
- Guidance includes expected foreign exchange headwinds versus the prior year comparable periods.
- Total ARR is expected to be in the range of $1,585 million to $1,615 million for full year 2023.
- Subscription ARR is expected to be in the range of $1,098 million to $1,118 million for full year 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income