Loading...
•
Jun 30, 2024
Informatica Q2 2024 Earnings Report
Informatica's financial performance for Q2 2024, marked by cloud growth and strategic expansions, was reported.
Key Takeaways
Informatica reported a 6.6% year-over-year increase in GAAP total revenues, reaching $400.6 million. Cloud Subscription ARR grew by 37% year-over-year to $703 million. The company raised its full-year guidance for Cloud Subscription ARR, Subscription ARR, Non-GAAP Operating Income, and Adjusted Unlevered Free Cash Flow, while updating the Total Revenue guidance.
Cloud Subscription ARR increased 37% year-over-year to $703 million.
Total ARR increased 7.8% year-over-year to $1.67 billion.
GAAP Total Revenues increased 6.6% year-over-year to $400.6 million.
GAAP Cloud Subscription Revenue increased 35% year-over-year to $161.4 million, representing 61% of subscription revenues.
Informatica
Informatica
Informatica Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comMaintenance & Professional Services Revenue
CapyFin.comCloud Subscription Revenue
CapyFin.comSelf-managed Subscription Support Revenue
CapyFin.comMaintenance Revenue
CapyFin.comSelf-managed Subscription License Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
Informatica provided guidance for Q3 2024 and updated its full-year 2024 outlook, considering macroeconomic conditions and foreign exchange headwinds.
Positive Outlook
- GAAP Total Revenues are expected to be in the range of $412 million to $428 million for Q3 2024.
- Subscription ARR is expected to be in the range of $1.199 billion to $1.219 billion for Q3 2024.
- Cloud Subscription ARR is expected to be in the range of $738 million to $748 million for Q3 2024.
- Non-GAAP Operating Income is expected to be in the range of $139 million to $151 million for Q3 2024.
- Adjusted Unlevered Free Cash Flow (after-tax) from $535 million to $555 million to a range of $545 million to $565 million for full year 2024.
Challenges Ahead
- Updating GAAP Total Revenues from $1.685 billion to $1.705 billion to a range of $1.660 billion to $1.680 billion for full year 2024.
- Professional service revenues are expected to be lower due to the shift to professional service partners.
- Lower upfront recognized self-managed subscription revenue per ASC 606 accounting standards due to lower average duration of self-managed subscription renewals.
- Increased FX-related revenue headwinds of approximately $4 million compared to previous assumptions for full year 2024.
- Total ARR is expected to be in the range of $1.660 billion to $1.690 billion for Q3 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income