Confluent, Inc. ( (CFLT) ) has released its Q4 earnings. Here is a breakdown of the information Confluent, Inc. presented to its investors.
Confluent, Inc., a leader in data streaming technology, specializes in providing cloud-native platforms that enable real-time data flow across organizations, serving the needs of businesses in the cloud, data, and AI sectors.
Confluent recently announced its financial results for the fourth quarter and fiscal year 2024, showcasing significant growth in subscription and Confluent Cloud revenues. With a strong performance in Q4, the company has surpassed guided metrics, highlighting its ongoing momentum in the data streaming market.
Key financial highlights include a 24% year-over-year increase in fourth-quarter subscription revenue, reaching $251 million, and a 38% growth in Confluent Cloud revenue, totaling $138 million. For the fiscal year, subscription revenue rose by 26% to $922 million, while Confluent Cloud revenue increased by 41% to $492 million. The company also reported a substantial rise in free cash flow, with an 11.1% margin in Q4, up from 3.2% the previous year.
In addition, Confluent experienced a 12% growth in customers with $100,000 or more in annual recurring revenue, indicating a robust demand for its products. Despite a GAAP operating loss, the company achieved a non-GAAP operating income of $13.6 million for the fourth quarter, signaling improvements in operational efficiency and profitability.
Looking ahead, Confluent’s management remains optimistic about the company’s growth prospects for 2025, with expectations to achieve further increases in subscription revenue and operating margins. The company’s strategic partnerships and product innovations are anticipated to strengthen its market leadership in the data streaming category.