Confluent, Inc. - CFLT STOCK NEWS

Confluent, Inc. (NASDAQ: CFLT), a leader in data streaming, will present at two investor conferences in March 2023. The first presentation is scheduled for the Morgan Stanley Technology, Media & Telecom Conference on March 6, 2023, at 10:25 a.m. PT (1:25 p.m. ET). The second is the JMP Securities Technology Conference on March 7, 2023, at 10:30 a.m. PT (1:30 p.m. ET). Both presentations will be available via webcast on Confluent's investor relations website. Confluent's platform aims to enhance customer experiences by enabling real-time data streaming across organizations.

Confluent, Inc. (NASDAQ: CFLT) announced that Michelin leveraged Confluent Cloud to enhance its global inventory management system. The partnership resulted in a 35% reduction in operational costs and accelerated time to market by 8-9 months. Michelin transitioned from managing self-hosted Apache Kafka operations to a fully managed service, addressing scalability challenges and enhancing real-time data capabilities. Confluent's 99.99% SLA ensures high availability for Michelin’s critical data streams, allowing for greater efficiency and a high ROI on projects.

Confluent, Inc. (NASDAQ:CFLT) has unveiled new capabilities in its Confluent Cloud that enhance data streaming security and efficiency. Key features include OAuth support for centralized identity management, Cloud Client Quotas for improved application performance, and enhanced Role-Based Access Controls (RBAC). These innovations enable organizations to manage costs while scaling their workloads effectively. With a shared services model, businesses can run multiple applications concurrently, significantly reducing infrastructure expenses. This release addresses the operational challenges businesses face in a tight market, reinforcing Confluent's commitment to providing cost-effective data solutions.

Confluent, Inc. (CFLT) reported a strong Q4 2022, achieving $169 million in revenue, a 41% increase year over year. Fiscal year revenue reached $586 million, up 51%. Confluent Cloud revenue surged by 102% year over year, totaling $68 million for Q4 and $211 million for the fiscal year, reflecting a 124% increase. The company also noted an increase in remaining performance obligations to $741 million (+48%), and a healthy customer base of 991 clients contributing over $100,000 in ARR (+35%). Confluent aims to reach breakeven non-GAAP operating margin by the end of Q4 2023, forecasting 30% revenue growth for 2023.

Confluent, Inc. (NASDAQ: CFLT) will release its fourth quarter and fiscal year 2022 financial results after the U.S. market closes on January 30, 2023. Following the announcement, a live video webcast will be held at 1:30 p.m. PT / 4:30 p.m. ET during the company's sales kickoff conference in Las Vegas.

Investors can access the earnings press release and supplemental materials beforehand on Confluent's investor relations website. A replay will also be available shortly after the event.

Confluent (NASDAQ:CFLT) has signed a definitive agreement to acquire Immerok, a key contributor to Apache Flink, enhancing its data streaming capabilities. This acquisition aims to launch a fully managed Flink service integrated with Confluent Cloud, providing users with advanced stream processing tools. Confluent's CEO, Jay Kreps, emphasized the significance of stream processing in delivering real-time insights. With Immerok’s expertise and established connections in the Flink community, this strategic move is expected to enrich Confluent’s offering and strengthen its competitive edge in the data streaming market.

Confluent, Inc. (CFLT) has appointed Shaun Clowes as the new Chief Product Officer (CPO). Clowes, previously at Mulesoft and Atlassian, brings over 20 years of experience in product leadership. His role will focus on spearheading product strategy and innovation, which is crucial as businesses increasingly rely on real-time data operations. CEO Jay Kreps emphasized that Clowes' expertise will be vital in enhancing Confluent's offerings as it aims to meet growing customer demands for real-time data streaming.

Confluent, Inc. (NASDAQ:CFLT) announces the appointment of Rey Perez as Chief Customer Officer (CCO). Rey will spearhead customer success, sales engineering, and support teams, emphasizing the growing importance of data streaming in modern businesses. He brings 25+ years of experience from New Relic and other tech firms, having successfully led transformations to consumption-based models. Confluent aims to enhance customer value with this leadership change, reinforcing its commitment to customer-centric strategies in a competitive marketplace.

Confluent, Inc. reported Q3 2022 total revenue of $152 million, marking a 48% year-over-year increase. Notably, Confluent Cloud revenue surged by 112% to $57 million. Remaining performance obligations reached $664 million, up 72%. The company's customer base expanded with 921 customers generating over $100,000 in ARR, up 39%. Despite significant growth, GAAP operating loss widened to $(118.9 million).

For Q4 2022, Confluent expects revenue between $161-$163 million and a non-GAAP net loss per share of $(0.16)-$(0.14).