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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.
Revenue by Segment
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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