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Confluent, Inc. (NASDAQ: CFLT) is a pioneering force in the realm of data streaming platforms, founded by the creators of Apache Kafka™. Headquartered in Palo Alto, California, Confluent empowers enterprises across various sectors such as financial services, retail, logistics, manufacturing, technology, and media to harness the full potential of real-time data. By transforming isolated data systems into responsive data pipelines, Confluent enables organizations to make immediate data-driven decisions.
Confluent's flagship product, the Confluent Platform, integrates seamlessly with Apache Kafka™, providing a comprehensive solution that includes robust connectors, ksqlDB for stream processing, and additional tools for monitoring and managing data streams. This platform ensures that data flows efficiently and securely across the various layers of an enterprise's IT infrastructure.
The company generates its revenue predominantly through subscription services and professional support, with a significant portion of its business concentrated in the United States. Confluent's offerings cater to multiple industries, providing tailored solutions that address specific challenges in financial services, insurance, retail, automotive, and government sectors, among others.
Confluent is backed by prominent investors including Benchmark, Data Collective, Index Ventures, and LinkedIn, underscoring its strong market position and investor confidence. The company continuously innovates and expands its product suite to meet the evolving needs of its clients.
In recent news, Confluent has launched several cutting-edge initiatives, including the introduction of applied machine learning and generative AI capabilities to enhance real-time oversight and anti-money laundering (AML) operations in fintech and banking. This innovation signifies a major leap forward in financial compliance and risk management, offering unparalleled real-time monitoring, reporting, and decision-making capabilities.
To learn more about Confluent and to download Apache Kafka™ and the Confluent Platform, visit the company's website at www.confluent.io.
Confluent (NASDAQ: CFLT) reported solid financial results for Q2 2024, with subscription revenue reaching $224.7 million, up 27% year-over-year. Confluent Cloud revenue grew 40% to $117 million. The company added 1,306 customers with $100,000+ in ARR, a 14% increase. Despite a GAAP operating loss of $108.3 million, Confluent achieved a non-GAAP operating income of $1.3 million, marking a significant improvement from last year's loss.
Key highlights include:
- Total revenue: $235.0 million, up 24% YoY
- Non-GAAP operating margin: 0.6%, up 9.7 points YoY
- Free cash flow: $2.7 million, improving by $37.9 million YoY
For Q3 2024, Confluent expects subscription revenue between $233-$234 million and a non-GAAP operating margin of 0%.
Confluent (NASDAQ: CFLT), a leader in data streaming, has announced that it will release its financial results for the second quarter of 2024 on July 31, 2024. The quarter ended on June 30, 2024. The financial results will be available after the U.S. market closes.
A live video webcast to discuss the results will be held on the same day at 1:30 p.m. PT / 4:30 p.m. ET. Investors can access the earnings press release and supplemental materials on Confluent’s investor relations website before the webcast. A replay will also be available on the website shortly after the event.
Confluent (NASDAQ: CFLT) has been named the 2024 Microsoft OSS on Azure Global Partner of the Year, marking its third consecutive win. The award celebrates Confluent's exceptional innovation and implementation of customer solutions using Microsoft technology. Paul Mac Farland, Confluent's SVP of Partner and Innovation Ecosystem, highlighted the importance of data streaming and the company's integration with Microsoft Azure. This tight integration enables real-time data connectivity via Apache Kafka pipelines, enhancing business-critical analytics and applications. The award underscores Confluent's strong teamwork and dedication to empowering businesses in the digital economy.
Microsoft's Chief Partner Officer, Nicole Dezen, praised the award winners for their creativity and capability, noting the momentum from AI and Copilot announcements that have driven partner innovation. The Microsoft Partner of the Year Awards recognize partners for outstanding Microsoft Cloud applications, services, and AI innovation. Confluent stood out among over 4,700 nominations from more than 100 countries, demonstrating competitive differentiation and customer value. More details on the 2024 awards are available on the Microsoft Partner blog and the official winners' list.
Sigma has appointed Christina Liu as Chief Financial Officer (CFO) and Ali Harmer as General Counsel to support its high-velocity business growth. Liu brings 25 years of finance expertise, having previously worked at Confluent (NASDAQ: CFLT) and Zendesk (NYSE: ZEN), where she played important roles in their financial scaling and IPO processes. Liu is also committed to diversity and inclusion, mentoring in the Asian American community. Harmer, formerly of Coda Law Group, LLP, brings over a decade of legal experience in technology transactions. She will lead Sigma's legal strategy and advise on business development and international expansion. This leadership enhancement comes amid rising customer demand and technological advancements in the data analytics industry.
Confluent (NASDAQ:CFLT) has launched 'Build with Confluent,' a new partner program designed for system integrators (SIs) to expedite the development and market entry of data streaming use cases. The program offers specialized software bundles, expert certification, and access to Confluent's Go-To-Market (GTM) teams to enhance visibility and market reach. According to a recent Data Streaming report, 86% of IT leaders prioritize data streaming investments in 2024. Early access to the program has already enabled the development of various use cases, including GenAI bots and fraud detection. Partners can leverage Confluent’s resources to build and certify solutions, ultimately improving customer experiences and operational efficiencies across industries. The initiative aims to help SIs capitalize on the $60 billion data streaming market by providing them with the necessary tools and expertise.
Confluent (NASDAQ: CFLT) released its 2024 Data Streaming Report highlighting the critical role of data streaming in accelerating AI and ML development. The report, based on a survey of 4,110 IT leaders from 12 countries, reveals that 90% of respondents believe data streaming platforms foster innovation in AI and ML. Additionally, 86% see data streaming as a strategic IT investment for 2024. Data streaming was cited as essential for achieving data-related goals by 91% of respondents and was noted for preventing data silos and enhancing data accessibility. The report emphasizes the significant ROI of data streaming, with 84% of IT leaders citing a 2x to 10x return on investment.
Key insights include the importance of data streaming in supporting AI models and the development of reusable data products, which save costs and time. The report underscores data streaming's role in breaking down data silos and enhancing real-time data access, with 93% saying it helps in most cases. The survey includes responses from diverse industries and highlights the wide-reaching benefits of data streaming technologies.
Confluent (NASDAQ: CFLT), a leader in data streaming, has announced its management will present at two upcoming investor conferences. They will participate in the J.P. Morgan Global Technology, Media & Communications Conference on May 20, 2024, at 10:10 a.m. PT / 1:10 p.m. ET, and the William Blair Annual Growth Stock Conference on June 6, 2024, at 6:00 a.m. PT / 9:00 a.m. ET. Both presentations will be available for live webcast and replay on Confluent's investor relations website.
Confluent, Inc. (NASDAQ: CFLT) announced its first quarter 2024 financial results, with total revenue of $217 million, up 25% year over year, and subscription revenue of $207 million, up 29% year over year. Confluent Cloud revenue reached $107 million, up 45% year over year. The company reported 1,260 customers with $100,000 or greater in ARR, up 17% year over year. Confluent highlighted strong growth in Confluent Cloud and DSP products, positioning them for continued growth. The company also provided financial outlook for the second quarter and fiscal year 2024.
Confluent, Inc. (NASDAQ:CFLT) introduces new capabilities to its Apache Flink offering, including AI Model Inference, Confluent Platform for Apache Flink®, and Freight clusters. These innovations simplify AI integration into data pipelines, enable stream processing for on-prem and private cloud workloads, and offer cost-effective solutions for high-throughput use cases. Confluent's AI Model Inference allows organizations to build and launch AI and ML applications seamlessly, leveraging fresh data for accurate decision-making. The company also provides expert support for stream processing in private clouds and on-premises environments through Confluent Platform for Apache Flink®. Additionally, the introduction of Freight clusters offers auto-scaling for cost efficiency in processing logging and telemetry data, catering to less latency-sensitive use cases.
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