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Informatica
🇺🇸 NYSE:INFA
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Jun 30, 2023

Informatica Q2 2023 Earnings Report

Informatica's Q2 2023 financial results were reported, demonstrating strong performance and exceeding guidance.

Key Takeaways

Informatica reported a strong second quarter in 2023, exceeding the high end of its guidance range across all key performance metrics. GAAP Total Revenues increased 1% year-over-year to $376.0 million, and GAAP Subscription Revenues increased 10% year-over-year to $227.6 million. The company also completed the acquisition of Privitar and raised its full-year 2023 non-GAAP operating income and adjusted unlevered free cash flow guidance.

Subscription ARR increased 16% year-over-year to $1.04 billion.

Cloud Subscription ARR increased 37% year-over-year to $513 million.

GAAP Total Revenues increased 1% year-over-year to $376.0 million.

Processed 60.7 trillion cloud transactions per month, an increase of 58% year-over-year.

Total Revenue
$376M
Previous year: $372M
+1.1%
EPS
$0.17
Previous year: $0.16
+6.3%
Cloud Subscription NRR
116%
Previous year: 113%
+2.7%
Cloud Transactions/Month
60.7
Previous year: 38.5
+57.7%
Cloud ARR Customers
213
Previous year: 175
+21.7%
Gross Profit
$290M
Previous year: $286M
+1.7%
Cash and Equivalents
$633M
Previous year: $543M
+16.5%
Free Cash Flow
$40.3M
Previous year: $32.7M
+23.4%
Total Assets
$4.83B
Previous year: $4.74B
+1.9%

Informatica

Informatica

Forward Guidance

Informatica provided guidance for the third quarter and full year 2023, including expectations for GAAP Total Revenues, Subscription ARR, Cloud Subscription ARR, and Non-GAAP Operating Income. The acquisition of Privitar is expected to be immaterial to revenue and earnings in 2023.

Positive Outlook

  • GAAP Total Revenues are expected to be in the range of $395 million to $405 million for Q3 2023.
  • Subscription ARR is expected to be in the range of $1,050 million to $1,060 million for Q3 2023.
  • Cloud Subscription ARR is expected to be in the range of $537 million to $543 million for Q3 2023.
  • Non-GAAP Operating Income is expected to be in the range of $110 million to $120 million for Q3 2023.
  • Raising Adjusted Unlevered Free Cash Flow (after-tax) from $340 million to $360 million to a range of $370 million to $390 million for full year 2023.

Challenges Ahead

  • Guidance includes the impact from macroeconomic conditions and expected foreign exchange headwinds versus the prior year comparable periods.
  • Total Revenues are expected to have ~$1m negative impact y/y for Q3 2023 due to FX.
  • Total ARR is expected to have ~$1m negative impact y/y for Q3 2023 due to FX.
  • Subscription ARR is expected to have ~$1m negative impact y/y for Q3 2023 due to FX.
  • Cash paid for interest to be approximately $39 million for Q3 2023

Company Overview

Full financial data and analysis

View Informatica