Confluent reported strong financial results for Q2 2024, with total revenue increasing 24% year-over-year to $235.0 million. Subscription revenue grew 27% to $224.7 million, driven by Confluent Cloud revenue which surged 50% and now represents 50% of subscription revenue. The company added new customers, reaching approximately 5,440 total customers, with 1,306 customers contributing over $100,000 in annual recurring revenue.The company continued to demonstrate operational efficiency while investing in growth initiatives. Gross margin improved to 72% from 69% in the prior year period, reflecting enhanced platform scalability. Operating loss narrowed to $108.3 million from $119.4 million last year, while maintaining significant investments in research and development and sales capabilities.Looking ahead, Confluent remains focused on driving cloud adoption and consumption growth despite macroeconomic headwinds. The company highlighted its shift to a consumption-oriented sales model for Confluent Cloud and ongoing efforts to help customers realize increased value efficiently. Cash and marketable securities remained strong at $1.93 billion, providing ample resources to fund future growth initiatives.

Confluent reported strong financial results for Q2 2024, with total revenue increasing 24% year-over-year to $235.0 million. Subscription revenue grew 27% to $224.7 million, driven by Confluent Cloud revenue which surged 50% and now represents 50% of subscription revenue. The company added new customers, reaching approximately 5,440 total customers, with 1,306 customers contributing over $100,000 in annual recurring revenue.The company continued to demonstrate operational efficiency while investing in growth initiatives. Gross margin improved to 72% from 69% in the prior year period, reflecting enhanced platform scalability. Operating loss narrowed to $108.3 million from $119.4 million last year, while maintaining significant investments in research and development and sales capabilities.Looking ahead, Confluent remains focused on driving cloud adoption and consumption growth despite macroeconomic headwinds. The company highlighted its shift to a consumption-oriented sales model for Confluent Cloud and ongoing efforts to help customers realize increased value efficiently. Cash and marketable securities remained strong at $1.93 billion, providing ample resources to fund future growth initiatives.