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Mar 31, 2024
Informatica Q1 2024 Earnings Report
Informatica's Q1 2024 financial results were announced, demonstrating growth in key areas and strategic execution of its cloud-only strategy.
Key Takeaways
Informatica reported strong first-quarter results, driven by its cloud-only strategy. Cloud Subscription ARR increased by 35% year-over-year, and total revenues grew by 6.3%. The company exceeded the midpoint of its guidance across all first-quarter 2024 metrics.
Cloud Subscription ARR increased 35% year-over-year to $653 million.
GAAP Total Revenues increased 6.3% year-over-year to $388.6 million.
GAAP Subscription Revenues increased 18% year-over-year to $252.0 million.
Processed 91.8 trillion cloud transactions per month, a 69% year-over-year increase.
Informatica
Informatica
Informatica Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comMaintenance & Professional Services Revenue
CapyFin.com Forward Guidance
Informatica provided guidance for the second quarter and reaffirmed full-year 2024 guidance, which includes the impact from macroeconomic conditions and expected foreign exchange headwinds versus the prior-year comparable periods.
Positive Outlook
- GAAP Total Revenues are expected to be in the range of $394 million to $410 million for Q2 2024.
- Subscription ARR is expected to be in the range of $1.168 billion to $1.188 billion for Q2 2024.
- Cloud Subscription ARR is expected to be in the range of $687 million to $697 million for Q2 2024.
- Non-GAAP Operating Income is expected to be in the range of $107 million to $119 million for Q2 2024.
- The company reaffirms previously provided guidance for the full-year 2024.
Challenges Ahead
- Guidance includes the impact from macroeconomic conditions.
- Guidance includes expected foreign exchange headwinds versus the prior-year comparable periods.
- Cash paid for interest is estimated to be approximately $39 million for Q2 2024.
- Basic weighted-average shares outstanding are expected to be approximately 301 million shares for Q2 2024.
- Diluted weighted-average shares outstanding are expected to be approximately 313 million shares for Q2 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income