Confluent, Inc. Stock Price, News & Analysis

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.