Confluent Shares Surge On Q4 Earnings: The Details

Zinger Key Points
  • Confluent beat analyst estimates on both the top and bottom line for the fourth quarter.
  • Shares were up more than 14% following the print.

Confluent Inc CFLT shares are trading higher in Wednesday’s after-hours session on the heels of the company’s fourth-quarter results. Here’s a rundown of the report.

  • Q4 Revenue: $213.18 million, beat estimates of $205.26 million
  • Q4 Adjusted EPS: 9 cents, beat estimates of 5 cents

Total revenues were up 26% year-over-year in the fourth quarter. Subscription revenues were up 31% and Confluent cloud revenues were up 46%. Confluent said it ended the quarter with 1,229 customers with $100,000 or greater in annual recurring revenue.

“Our momentum is driven by our leadership of the data streaming platform category, which has become a requirement to deliver business critical use cases like connected customer experiences, cloud migrations and now real time generative AI,” said Jay Kreps, co-founder and CEO of Confluent.

Outlook: Confluent expects first-quarter revenue to be between $211 million and $212 million. Subscription revenues are expected to be between $199 million and $200 million. The company guided for adjusted operating margin of negative 4% in the first quarter. Confluent expects adjusted net income per share of zero to 2 cents in the first quarter.

Confluent sees full-year 2024 revenue of approximately $950 million. Adjusted operating margin is expected to be approximately flat. The company anticipates full-year net income of approximately 17 cents per share.

A conference call to discuss these results kicked off at 4:30 p.m. ET.

See Also: PayPal Q4 Earnings: Revenue Beat, EPS Beat, Payment Volumes Up 15%, Active Accounts Down 2%, Soft Guidance And More

CFLT price Action: Confluent shares were up 15.9% after hours at $28.16 at the time of publication, according to Benzinga Pro.

Photo: 3844328 from Pixabay.

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