What is Confluent, Inc.'s earnings per share (EPS)?

Confluent, Inc. (CFLT) reported diluted earnings per share of $-0.86 for fiscal year 2025. This represents a 19.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Confluent, Inc. Financials

CFLT

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Confluent, Inc. (CFLT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 44/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Confluent, Inc. has an operating margin of -32.6%, meaning the company retains $-33 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -43.5% the prior year.

Growth

Confluent, Inc.'s revenue surged 21.1% year-over-year to $1.2B, reflecting rapid business expansion. This strong growth earns a score of 68/100.

Leverage

Confluent, Inc. carries a low D/E ratio of 0.94, meaning only $0.94 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 83/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 3.83, Confluent, Inc. holds $3.83 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 75/100.

Cash Flow

Confluent, Inc. has a free cash flow margin of 5.2%, earning a moderate score of 38/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Confluent, Inc. generates a -25.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -35.9% the prior year.

Piotroski F-Score Neutral

6/9

Confluent, Inc. passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

-0.22x

For every $1 of reported earnings, Confluent, Inc. generates $-0.22 in operating cash flow ($64.3M OCF vs -$295.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.2B

YoY+21.1%

5Y CAGR+37.6%

Confluent, Inc. generated $1.2B in revenue in fiscal year 2025. This represents an increase of 21.1% from the prior year.

EBITDA

-$350.5M

YoY+11.7%

Confluent, Inc.'s EBITDA was -$350.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 11.7% from the prior year.

Net Income

-$295.3M

YoY+14.4%

Confluent, Inc. reported -$295.3M in net income in fiscal year 2025. This represents an increase of 14.4% from the prior year.

EPS (Diluted)

$-0.86

YoY+19.6%

Confluent, Inc. earned $-0.86 per diluted share (EPS) in fiscal year 2025. This represents an increase of 19.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$60.7M

YoY+96.4%

Confluent, Inc. generated $60.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 96.4% from the prior year.

Cash & Debt

$347.2M

YoY-10.0%

5Y CAGR+56.7%

Confluent, Inc. held $347.2M in cash against $1.1B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

74.3%

YoY+1.0pp

5Y CAGR+6.2pp

Confluent, Inc.'s gross margin was 74.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.0 percentage points from the prior year.

Operating Margin

-32.6%

YoY+10.9pp

5Y CAGR+66.0pp

Confluent, Inc.'s operating margin was -32.6% in fiscal year 2025, reflecting core business profitability. This is up 10.9 percentage points from the prior year.

Net Margin

-25.3%

YoY+10.5pp

5Y CAGR+71.8pp

Confluent, Inc.'s net profit margin was -25.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 10.5 percentage points from the prior year.

Return on Equity

-25.3%

YoY+10.6pp

Confluent, Inc.'s ROE was -25.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 10.6 percentage points from the prior year.

Capital Allocation

R&D Spending

$481.7M

YoY+14.4%

5Y CAGR+35.5%

Confluent, Inc. invested $481.7M in research and development in fiscal year 2025. This represents an increase of 14.4% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$3.6M

YoY+40.1%

5Y CAGR+28.2%

Confluent, Inc. invested $3.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 40.1% from the prior year.

CFLT Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.2B+21.1%	$963.6M+24.0%	$777.0M+32.6%	$585.9M+51.1%	$387.9M+63.9%	$236.6M
Cost of Revenue	$299.9M+16.5%	$257.5M+12.1%	$229.7M+13.5%	$202.4M+47.4%	$137.3M+81.9%	$75.5M
Gross Profit	$866.8M+22.8%	$706.2M+29.0%	$547.3M+42.7%	$383.5M+53.1%	$250.6M+55.5%	$161.1M
R&D Expenses	$481.7M+14.4%	$421.2M+20.8%	$348.8M+32.1%	$264.0M+63.1%	$161.9M+53.6%	$105.4M
SG&A Expenses	$172.7M+10.2%	$156.7M+13.9%	$137.5M+9.4%	$125.7M+15.4%	$108.9M-11.1%	$122.5M
Operating Income	-$380.1M+9.3%	-$419.1M+12.5%	-$478.8M-3.5%	-$462.7M-36.2%	-$339.6M-45.7%	-$233.2M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$5.4M-152.0%	$10.4M-71.2%	$36.1M+473.2%	$6.3M+98.3%	$3.2M+1633.3%	-$207K
Net Income	-$295.3M+14.4%	-$345.1M+22.1%	-$442.7M+2.2%	-$452.6M-32.0%	-$342.8M-49.2%	-$229.8M
EPS (Diluted)	$-0.86+19.6%	$-1.07+27.2%	$-1.47+9.3%	$-1.62+11.0%	$-1.82+17.6%	$-2.21

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$314.8M+5.5%	$298.5M+5.8%	$282.3M+4.1%	$271.1M+3.8%	$261.2M+4.4%	$250.2M+6.5%	$235.0M+8.2%	$217.2M
Cost of Revenue	$79.7M+3.5%	$77.0M+3.8%	$74.2M+7.3%	$69.1M+2.3%	$67.6M+6.1%	$63.7M-2.0%	$65.0M+6.1%	$61.2M
Gross Profit	$235.2M+6.1%	$221.6M+6.5%	$208.1M+3.0%	$202.0M+4.3%	$193.7M+3.8%	$186.5M+9.7%	$170.0M+9.0%	$156.0M
R&D Expenses	$121.9M+0.1%	$121.8M+0.4%	$121.2M+3.8%	$116.8M+1.7%	$114.9M+11.8%	$102.7M-3.1%	$106.1M+8.7%	$97.6M
SG&A Expenses	$52.6M+30.5%	$40.3M+1.5%	$39.7M-1.0%	$40.1M+1.9%	$39.4M-0.3%	$39.5M+0.1%	$39.4M+2.6%	$38.4M
Operating Income	-$99.2M-19.0%	-$83.3M+13.6%	-$96.4M+4.7%	-$101.2M+4.4%	-$105.8M-12.9%	-$93.7M+13.6%	-$108.3M+2.7%	-$111.4M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$393K-125.3%	$1.6M-76.5%	$6.6M+150.2%	-$13.2M-946.9%	$1.6M-47.6%	$3.0M-12.6%	$3.4M+38.0%	$2.5M
Net Income	-$79.2M-19.2%	-$66.5M+18.8%	-$82.0M-21.3%	-$67.6M+23.3%	-$88.1M-18.8%	-$74.1M+17.5%	-$89.9M+3.3%	-$93.0M
EPS (Diluted)	N/A	$-0.19+20.8%	$-0.24-20.0%	$-0.20	N/A	$-0.23+17.9%	$-0.28+6.7%	$-0.30

CFLT Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$3.0B+10.8%	$2.7B+9.5%	$2.5B+4.9%	$2.3B+0.1%	$2.3B+345.3%	$526.1M
Current Assets	$2.6B+10.9%	$2.4B+4.4%	$2.3B+2.4%	$2.2B-1.3%	$2.2B+420.5%	$427.7M
Cash & Equivalents	$347.2M-10.0%	$386.0M+10.4%	$349.8M-19.7%	$435.8M-68.3%	$1.4B+3640.1%	$36.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$390.8M+24.3%	$314.3M+36.7%	$230.0M+29.1%	$178.2M+29.6%	$137.5M+29.7%	$106.0M
Goodwill	$164.4M0.0%	$164.4M+216.2%	$52.0M	$0	N/A	N/A
Total Liabilities	$1.8B+4.8%	$1.7B+5.0%	$1.7B+4.8%	$1.6B+5.6%	$1.5B+79.3%	$832.4M
Current Liabilities	$680.6M+15.5%	$589.2M+21.0%	$487.0M+14.8%	$424.3M+21.9%	$348.2M+79.7%	$193.8M
Long-Term Debt	$1.1B+0.4%	$1.1B+0.4%	$1.1B+0.4%	$1.1B+0.4%	$1.1B	N/A
Total Equity	$1.2B+21.6%	$961.2M+18.6%	$810.4M+5.3%	$769.5M-9.5%	$850.3M+377.6%	-$306.2M
Retained Earnings	-$2.3B-14.8%	-$2.0B-21.0%	-$1.6B-36.9%	-$1.2B-60.4%	-$748.9M-84.4%	-$406.1M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$3.0B+3.8%	$2.9B+2.1%	$2.8B+4.4%	$2.7B+0.1%	$2.7B+3.3%	$2.6B+3.1%	$2.5B+3.6%	$2.4B
Current Assets	$2.6B+4.3%	$2.5B+2.3%	$2.4B+4.2%	$2.3B-0.4%	$2.4B+3.8%	$2.3B-1.8%	$2.3B+3.6%	$2.2B
Cash & Equivalents	$347.2M+16.3%	$298.5M+1.0%	$295.6M+6.1%	$278.6M-27.8%	$386.0M+19.6%	$322.6M+3.6%	$311.3M-7.4%	$336.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$390.8M+9.6%	$356.4M-0.3%	$357.6M+20.1%	$297.9M-5.2%	$314.3M+12.8%	$278.7M+8.2%	$257.5M+28.8%	$199.8M
Goodwill	$164.4M0.0%	$164.4M0.0%	$164.4M0.0%	$164.4M0.0%	$164.4M0.0%	$164.4M+216.1%	$52.0M0.0%	$52.0M
Total Liabilities	$1.8B+3.3%	$1.8B+0.3%	$1.8B+4.8%	$1.7B-3.5%	$1.7B+3.6%	$1.7B+1.2%	$1.7B+3.8%	$1.6B
Current Liabilities	$680.6M+9.3%	$622.6M+1.6%	$612.9M+15.7%	$529.9M-10.1%	$589.2M+10.1%	$535.0M+2.8%	$520.2M+18.4%	$439.2M
Long-Term Debt	$1.1B+0.1%	$1.1B+0.1%	$1.1B+0.1%	$1.1B+0.1%	$1.1B+0.1%	$1.1B+0.1%	$1.1B+0.1%	$1.1B
Total Equity	$1.2B+4.5%	$1.1B+5.2%	$1.1B+3.7%	$1.0B+6.7%	$961.2M+2.9%	$934.3M+6.9%	$873.9M+3.4%	$845.2M
Retained Earnings	-$2.3B-3.6%	-$2.2B-3.1%	-$2.1B-4.0%	-$2.1B-3.4%	-$2.0B-4.6%	-$1.9B-4.1%	-$1.8B-5.2%	-$1.7B

CFLT Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$64.3M+92.1%	$33.5M+132.3%	-$103.7M+34.1%	-$157.3M-49.8%	-$105.1M-28.0%	-$82.1M
Capital Expenditures	$3.6M+40.1%	$2.6M-9.4%	$2.8M-31.2%	$4.1M+14.5%	$3.6M+246.2%	$1.0M
Free Cash Flow	$60.7M+96.4%	$30.9M+129.0%	-$106.5M+34.0%	-$161.5M-48.6%	-$108.7M-30.8%	-$83.1M
Investing Cash Flow	-$185.0M-146.7%	-$75.0M+11.6%	-$84.9M+90.2%	-$865.8M-116.1%	-$400.6M-126.5%	-$176.9M
Financing Cash Flow	$81.2M+1.7%	$79.8M-22.0%	$102.4M+24.5%	$82.2M-95.5%	$1.8B+566.5%	$276.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	$255K-67.7%	$789K+63.7%	$482K	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$42.1M+36.7%	$30.8M+70.0%	$18.1M+167.7%	-$26.8M-176.0%	$35.2M+125.5%	$15.6M+81.8%	$8.6M+133.1%	-$26.0M
Capital Expenditures	$442K-45.2%	$807K-12.2%	$919K-35.7%	$1.4M+113.6%	$669K+10.2%	$607K-45.1%	$1.1M+494.1%	$186K
Free Cash Flow	$41.7M+38.9%	$30.0M+74.4%	$17.2M+161.0%	-$28.2M-181.6%	$34.5M+130.2%	$15.0M+100.5%	$7.5M+128.6%	-$26.1M
Investing Cash Flow	-$17.8M+62.0%	-$46.8M-450.7%	-$8.5M+92.4%	-$112.0M-1192.9%	$10.2M+146.7%	-$21.9M+52.9%	-$46.5M-177.5%	-$16.8M
Financing Cash Flow	$24.6M+24.2%	$19.8M+226.2%	$6.1M-80.3%	$30.8M+57.9%	$19.5M+13.4%	$17.2M+31.4%	$13.1M-56.4%	$30.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CFLT Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	74.3%+1.0pp	73.3%+2.8pp	70.4%+5.0pp	65.5%+0.8pp	64.6%-3.5pp	68.1%
Operating Margin	-32.6%+10.9pp	-43.5%+18.1pp	-61.6%+17.3pp	-79.0%+8.6pp	-87.6%+11.0pp	-98.6%
Net Margin	-25.3%+10.5pp	-35.8%+21.2pp	-57.0%+20.3pp	-77.2%+11.2pp	-88.4%+8.8pp	-97.2%
Return on Equity	-25.3%+10.6pp	-35.9%+18.7pp	-54.6%+4.2pp	-58.8%-18.5pp	-40.3%	N/A
Return on Assets	-9.9%+2.9pp	-12.8%+5.2pp	-18.0%+1.3pp	-19.3%-4.7pp	-14.6%+29.0pp	-43.7%
Current Ratio	3.83-0.2	3.99-0.6	4.62-0.6	5.18-1.2	6.39+4.2	2.21
Debt-to-Equity	0.94-0.2	1.14-0.2	1.34-0.1	1.41+0.1	1.27+4.0	-2.72
FCF Margin	5.2%+2.0pp	3.2%+16.9pp	-13.7%+13.8pp	-27.6%+0.5pp	-28.0%+7.1pp	-35.1%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	74.7%+0.5pp	74.2%+0.5pp	73.7%-0.8pp	74.5%+0.4pp	74.1%-0.4pp	74.5%+2.2pp	72.4%+0.5pp	71.8%
Operating Margin	-31.5%-3.6pp	-27.9%+6.3pp	-34.2%+3.2pp	-37.3%+3.2pp	-40.5%-3.1pp	-37.4%+8.7pp	-46.1%+5.1pp	-51.3%
Net Margin	-25.2%-2.9pp	-22.3%+6.8pp	-29.0%-4.1pp	-24.9%+8.8pp	-33.7%-4.1pp	-29.6%+8.6pp	-38.3%+4.5pp	-42.8%
Return on Equity	-6.8%-0.8pp	-5.9%+1.8pp	-7.7%-1.1pp	-6.6%+2.6pp	-9.2%-1.2pp	-7.9%+2.4pp	-10.3%+0.7pp	-11.0%
Return on Assets	-2.6%-0.3pp	-2.3%+0.6pp	-2.9%-0.4pp	-2.5%+0.8pp	-3.3%-0.4pp	-2.8%+0.7pp	-3.6%+0.3pp	-3.8%
Current Ratio	3.83-0.2	4.01+0.0	3.98-0.4	4.42+0.4	3.99-0.2	4.24-0.2	4.44-0.6	5.07
Debt-to-Equity	0.94-0.0	0.98-0.0	1.03-0.0	1.07-0.1	1.14-0.0	1.17-0.1	1.25-0.0	1.29
FCF Margin	13.2%+3.2pp	10.1%+4.0pp	6.1%+16.5pp	-10.4%-23.6pp	13.2%+7.2pp	6.0%+2.8pp	3.2%+15.2pp	-12.0%

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Frequently Asked Questions

What is Confluent, Inc.'s annual revenue?

Confluent, Inc. (CFLT) reported $1.2B in total revenue for fiscal year 2025. This represents a 21.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Confluent, Inc.'s revenue growing?

Confluent, Inc. (CFLT) revenue grew by 21.1% year-over-year, from $963.6M to $1.2B in fiscal year 2025.

Is Confluent, Inc. profitable?

No, Confluent, Inc. (CFLT) reported a net income of -$295.3M in fiscal year 2025, with a net profit margin of -25.3%.

What is Confluent, Inc.'s EBITDA?

Confluent, Inc. (CFLT) had EBITDA of -$350.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Confluent, Inc. have?

As of fiscal year 2025, Confluent, Inc. (CFLT) had $347.2M in cash and equivalents against $1.1B in long-term debt.

What is Confluent, Inc.'s gross margin?

Confluent, Inc. (CFLT) had a gross margin of 74.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Confluent, Inc.'s operating margin?

Confluent, Inc. (CFLT) had an operating margin of -32.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Confluent, Inc.'s net profit margin?

Confluent, Inc. (CFLT) had a net profit margin of -25.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Confluent, Inc.'s return on equity (ROE)?

Confluent, Inc. (CFLT) has a return on equity of -25.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Confluent, Inc.'s free cash flow?

Confluent, Inc. (CFLT) generated $60.7M in free cash flow during fiscal year 2025. This represents a 96.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Confluent, Inc.'s operating cash flow?

Confluent, Inc. (CFLT) generated $64.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Confluent, Inc.'s total assets?

Confluent, Inc. (CFLT) had $3.0B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Confluent, Inc.'s capital expenditures?

Confluent, Inc. (CFLT) invested $3.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Confluent, Inc. spend on research and development?

Confluent, Inc. (CFLT) invested $481.7M in research and development during fiscal year 2025.

What is Confluent, Inc.'s current ratio?

Confluent, Inc. (CFLT) had a current ratio of 3.83 as of fiscal year 2025, which is generally considered healthy.

What is Confluent, Inc.'s debt-to-equity ratio?

Confluent, Inc. (CFLT) had a debt-to-equity ratio of 0.94 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Confluent, Inc.'s return on assets (ROA)?

Confluent, Inc. (CFLT) had a return on assets of -9.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Confluent, Inc.'s Piotroski F-Score?

Confluent, Inc. (CFLT) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Confluent, Inc.'s earnings high quality?

Confluent, Inc. (CFLT) has an earnings quality ratio of -0.22x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Confluent, Inc.?

Confluent, Inc. (CFLT) scores 44 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.