附錄99.1
Confluent宣布2024年第三季財務業績
加州芒廷維尤-2024年10月30日-科恩流公司 (納斯達克: CFLT), 這家數據串流先驅今天宣布截至2024年9月30日的第三季度財務業績。
Confluent成立時的使命是為全球組織啟動數據運行，正如聯合創始人兼CEO Jay Kreps所說。眾多優秀客戶都信任Confluent來進行實時數據串流、連接、處理和管理。自創立以來僅10年，我們的總營收運行率已攀升至超過10億美元，第三季度營業總收入超過25000萬美元。我們還超過了第三季度的所有引導指標，包括27%的年度訂閱營收增長。在未來的十年中，我們依然具備良好的位置，以我們完整的數據串流平台推動持久的長期增長。
Confluent的首席财务官Rohan Sivaram表示：“在第三季度，我們實現了強勁的營業收入增長、創紀錄的毛利率，以及非GAAP營業利潤率和自由現金流量率均呈正增長。根據我們第三季度的表現，我們提高了2024年訂閱營收預測，並且現在正致力於實現2024年的正營業利潤率和自由現金流量率。”
2024年第三季度財務亮點
(以百萬為單位，除每股數據和百分比之外)
|
Q3 2024 |
Q3 2023 |
Y/Y變動 |
訂閱營業收入 |
$239.9 |
$189.3 |
27% |
總營業收入 |
$250.2 |
$200.2 |
25% |
依照通用會計原則的營業虧損 |
$(93.7) |
$(108.6) |
$14.9 |
非依照普遍會計準則計算之營業收入（損失） |
$15.8 |
$(10.9) |
$26.7 |
GAAP營業利潤率 |
(37.4%) |
(54.3%) |
16.9 百分點 |
非通用會計營業利潤率 |
6.3% |
(5.5%) |
11.8 點 |
根據美國通用會計準則，每股淨損失 |
$(0.23) |
$(0.30) |
$0.07 |
非依據通用會計準則調整的每股稀釋凈利潤 |
$0.10 |
$0.02 |
$0.08 |
營運活動提供的淨現金流入（流出） |
$15.6 |
$(9.1) |
$24.7 |
自由現金流 |
$9.3 |
$(13.1) |
$22.4 |
自由現金流利潤率 |
3.7% |
(6.5%) |
10.2 點 |
財務展望
對於2024財年第四季度，Confluent預計：
|
2024年第四季展望 |
2024財政年度展望 |
訂閱營業收入 |
營業收入在245至24600萬美元之間 |
營業收入在916.5至91750萬美元之間 |
非通用會計營業利潤率 |
~2% |
~2% |
每股稀釋的非依據通用會計原則的淨利潤 |
$0.05 |
$0.25 |
由於某些項目具有極高的變動性、複雜性和低可見度，因此，將前瞻性的非GAAP營業利潤率、自由現金流率和每股非GAAP凈利潤調整為最直接可比的GAAP衡量標準是不能不經過不合理的努力進行的。尤其是，我們的股票相關薪酬費用，包括股票薪酬費用、僱主支付的員工股票交易的雇主工資稅以及內部使用軟體中已資本化的股票薪酬攤銷，其測量和效應直接受員工股票交易的時間和我們股價的不可預測波動影響，這些情況我們預計將對我們未來的GAAP財務結果產生重要影響。
會議看漲信息
Confluent將於今天下午4:30（美國東部時間）/下午1:30（美國太平洋時間）舉行視頻網絡研討會，討論公司2024年第三季度業績以及財務展望。此研討會對公眾開放，投資者可在Confluent的投資者關係網站上查閱網絡研討會、收益新聞稿、補充財務信息以及投資者演示。 investors.confluent.io 在網絡研討會開始之前，投資者可在Confluent的投資者關係網站上訪問。緊隨現場活動結束後數小時，網絡研討會重播也將在Confluent的投資者關係網站上提供。
Confluent使用其投資者關係網站，並可能使用其X（Twitter）、LinkedIn和Facebook帳戶來披露重要非公開信息並遵守根據FD規則的披露義務。
前瞻性陳述
本新聞稿和業績會引用本新聞稿均包含前瞻性聲明，其中包括對以下事項的聲明：(i)我們的財務展望，包括預期訂閱收入、Confluent Cloud收入、非依據通用會計準則(GAAP)的營業利潤率、自由現金流率、非GAAP每股凈利潤、營業收入結構，包括Confluent Cloud訂閱收入結構、營業收入運行率、Confluent Cloud和資料流平台的增長、採用和吸引力、營業利潤及利潤改善、目標或預期的毛利與營業利潤水平、每股盈利水平和改善、Confluent Cloud的產品優化、持續的業務動能、預期的收入和消費增長率以及有效的增長、(ii)我們在市場和類別的領導地位，(iii)我們在研發和市場推廣功能的預期投資，以及產品和定價創新、功能、性能的有效性和時間，(iv)我們推動有效增長的能力，以及投資的速率和節奏，包括預期的資本
分配，我們對我們的DSP產品和Confluent Cloud增長預期和趨勢，包括過渡到以消費為導向的Confluent Cloud銷售模式後，Confluent Cloud消費率和需求以及在IT開支受到審查壓力的情況下數據流平台的保留和需求率，最近的高利率期貨和宏觀經濟不確定性以及我們對宏觀經濟壓力和波動對Confluent Cloud、IT開支、我們的市場推廣方式、我們的產品對客戶的吸引力以及客戶使用案例擴展的整體消費水平和Confluent Cloud增長率的影響的預期，我們的定價，我們的獲利率和交易週期以及客戶行為，如預算審查和偏好消費而不是大量預付款，客戶增長、保留和參與能力，Confluent Cloud為用戶和客戶提供成本節省，包括更低的擁有成本，以及開源Kafka用戶群體的更多付費率，並因此推動更高的獲利化，我們的產品使用率增加，包括來自構建生成AI應用的客戶，企業對流動數據的依賴，營收、客戶、以美元計算的凈保留率和毛保留率的增長和增長率，我們提高Confluent客戶參與和擴展客戶群的能力，我們的市場機會以及能否抓住我們的市場機會，我們過渡為以消費為導向的銷售模式的時間、預期收益和整體效果，我們的市場推廣策略，我們的產品差異化和對我們產品的市場認可度，包括覆蓋開源替代方案，我們的策略和我們Flink產品和DSP產品的預期結果和市場認可度，我們對流處理市場接受度、方向和增長的預期，它加速我們平台的採用和業務增長的潛力，以及我們抓住這個市場的能力和定位，我們達到短期和中期財務目標的預期、生成式AI景觀和我們的產品，包括客戶和合作夥伴使用我們的產品進行生成式AI用例的預期，某些關鍵財務和營運指標的相關性預期，我們引領長期增長的能力，我們對WarpSteam收購影響的預期，以及我們未來的前景。"相信"、"可能"、"將"、"估計"、"持續"、"預計"、"打算"、"期望"、"尋求"、"計劃"、"項目"、"目標"、"展望"、"設法"、"移入"等類似表達旨在識別前瞻性陳述。前瞻性陳述僅代表我們當前的信念、估計和假設，截至本新聞稿日期，不應將本新聞稿中的信息視為代表我們後續日期的估算。這些前瞻性陳述會受到風險、不確定性和假設的影響。如果風險成真或假設證明不正確，實際結果可能與這些前瞻性陳述所暗示的結果顯著不同。風險包括但不限於：(i)我們有限的營運歷史，包括在不確定的宏觀經濟環境中，(ii)我們維護和管理快速增長的能力，(iii)我們增加提供消費，包括現有客戶和新客戶購買我們的產品，包括通過滿足客戶消費偏好，成功將新功能和功能添加到我們的產品，以及與客戶合作，幫助他們以高效和可持續的方式實現Confluent的增加價值，(iv)我們成功執行我們的市場推廣策略和倡議，包括過渡到以消費為導向的Confluent Cloud銷售模式後，(v)我們吸引新客戶並成功提高他們對我們產品的消費，以及保留並向現有客戶銷售附加功能和服務，(vi)不確定的宏觀經濟環境
條件包括高通脹、高利率、銀行倒閉、供應鏈挑戰、地緣政治事件、衰退風險、和匯率波動等，這些情況已經導致並可能繼續導致Confluent Cloud的消費減少、消費波動增加，包括因客戶關注雲成本控制和提高效率、客戶在信息技術支出上的收縮、銷售週期延長、合同規模減小、現有和潛在客戶對IT支出的普遍加強審查，或客戶偏好開源替代方案等，以及對成本效率措施的潛在需求；(vii) 我們實現年度盈利和提高利潤的能力，以及預期的時間表或根本上是否實現；(viii) 我們產品提供的估計可達市場機會，包括我們的Flink產品和串流處理，以及我們捕捉市場機會的能力；(ix) 我們在日益競爭激烈的市場中有效競爭的能力；(x) 我們吸引、培訓和留住高資歷人員的能力，包括在我們轉向以消費為導向的銷售模式為Confluent Cloud後跟進，以及銷售人員流失和銷售組織適應能力水平的影響；(xi) 我們的安全措施被破壞、意外或有意的網絡安全事件或未經授權存取我們的平台、我們的數據、或我們的客戶或其他用戶的個人數據；(xii) 我們依賴第三方基於雲的基礎設施來托管Confluent Cloud；(xiii) 公共部門的預算週期、資金削減或延遲；(xiv) 我們準確預測未來表現、業務和增長的能力；和 (xv) 一般市場、政治、經濟和業務條件。這些風險並非盡事。更多有關可能影響Confluent結果的風險的信息，已包含在我們向證券交易委員會（“SEC”）提交的申報文告中，包括我們截至2024年6月30日的第10-Q表格季度報告，以及我們之後不時向SEC提交的報告。更多信息將在我們向SEC提交的截至2024年9月30日的第10-Q表格季度報告中提供，應與本新聞稿以及其中包含的財務業績一同閱讀。Confluent不承擔更新或修訂任何前瞻性陳述的義務，也不當前打算，除非法律要求。
非通用會計原則財務指標
本新聞稿包括以下非 GAAP 財務指標：非 GAAP 毛利、非 GAAP 毛利、非 GAAP 營運開支（研究和開發、銷售和行銷以及一般和行政）、非 GAAP 營業收入（虧損）、非 GAAP 營業利潤、非 GAAP 淨收入（虧損）、每股自由現金流和自由現金流利潤率。我們在內部使用這些非 GAAP 財務指標和其他關鍵指標，以便分析我們的財務和業務趨勢，以及用於內部規劃和預測目的。我們相信這些非 GAAP 財務指標，如果集體採用，可能對投資者有幫助，因為它們可能會與過去財務表現一致性和可比較性，因為它們通過排除某些項目可能不代表我們業務、營運結果或前景的部分項目。但是，非 GAAP 財務指標作為分析工具有限制，並且僅供補充資訊用途。這些資料不應與根據 GAAP 準備的財務資訊分開，或作為替代資料。特別是，其他公司（包括我們行業內的公司）可能會報告非 GAAP 毛利、非 GAAP 毛利、非 GAAP 營運開支（研究和開發、銷售和行銷、一般和行政）、非 GAAP 營業收入（虧損）、非 GAAP 每股淨收入（虧損）、自由現金流利潤率或類似標題的標準不同地計算它們，從而減少
自由現金流的用途僅作為比較指標。此外，自由現金流並非替代用於營運活動的現金。自由現金流的實用性有限，因為該指標不反映我們未來的合約承諾，也不代表在任何特定時期現金餘額的總增加或減少。鼓勵投資者查閱這些非依據GAAP會計準則的因數與它們最直接可比的GAAP財務指標之間的調解，如下所示。我們將非依據GAAP會計準則的毛利潤、毛利率、營業費用（研究與發展、銷售與營銷以及總務與行政）、非依據GAAP營業利潤（損失）、非依據GAAP營業利潤率、非依據GAAP凈利潤（損失）以及非依據GAAP每股盈利（損失）定義為相應的GAAP指標，根據適用情況進行調整，包括與股票相關的導致的補償費用，其中包括與員工股票交易相關的僱主稅以及內部使用軟體中的續延與實現的股票導致的補償的攤銷；取得的無形資產之攤銷；與收購相關的費用；重組和其他相關費用；債務發行成本的攤銷；以及與這些調整相關的所得稅影響，以及與收購相關的一次性所得稅費用或益處。非依據GAAP毛利率和非依據GAAP營業利潤率的定義分別為非依據GAAP毛利潤和非依據GAAP營業利潤（損失）作為營業收入的百分比。我們將自由現金流定義為營運活動中使用的淨現金減去內部使用軟體成本和資本支出，並將自由現金流利率定義為自由現金流占營業收入的百分比。我們認為自由現金流和自由現金流利率是流動性的有用指標，為管理層和投資者提供關於核心業務績效和未來產生可供戰略機會或投資業務使用的現金的信息。
定義
擁有年度營業收入超過10萬美元的客戶 代表截至期末貢獻了10萬美元或以上年度營業收入的客戶數。我們將ARR定義為（1）對於Confluent Platform客戶，根據合同，我們的客戶在以下12個月內承諾的收入金額，假設訂閱不增加或減少，以及（2）對於Confluent Cloud客戶，我們預計在以下12個月內從這些客戶那裡認列的收入金額，通過將適用期間最後三個月內Confluent Cloud的實際消耗年化，假設不增加或減少使用率。服務安排被排除在ARR計算之外。為了確定我們的客戶數量，我們將所有隸屬於同一母公司的關聯實體視為單一客戶，並包括按需付費客戶。我們的客戶數量可能會因收購、合併、分拆和其他市場活動而進行調整。
關於Confluent
Confluent是一個資料串流平台，正引領一個全新類別的資料基礎設施，讓資料運作起來。Confluent的原生雲端產品是資料運作的基礎平台，旨在成為促進即時數據的智慧連接組織內不同來源的數據持續串流的結構。有了Confluent，組織可以滿足提供豐富數位前端客戶體驗的新業務要求，並過渡到複雜的、即時的、軟體驅動的後端運作。
投資者聯繫
謝凱峰
investors@confluent.io
媒體聯絡方式
凱瑞·塔特爾
pr@confluent.io
Confluent, Inc.
縮短的合併財務報表
（以千為單位）
（未經審計）
|
九月三十日， |
|
|
12月31日， |
|
||
|
2024 |
|
|
2023 |
|
||
資產 |
|
|
|
|
|
||
流動資產: |
|
|
|
|
|
||
現金及現金等價物 |
$ |
322,606 |
|
|
$ |
349,761 |
|
有價證券 |
|
1,536,887 |
|
|
|
1,551,009 |
|
應收帳款淨額 |
|
278,667 |
|
|
|
229,962 |
|
延期合約收購成本 |
|
44,812 |
|
|
|
43,937 |
|
預付費用及其他流動資產 |
|
83,221 |
|
|
|
76,986 |
|
全部流動資產 |
|
2,266,193 |
|
|
|
2,251,655 |
|
物業及設備，扣除折舊後淨值 |
|
73,158 |
|
|
|
54,012 |
|
營運租賃權使用資產 |
|
9,989 |
|
|
|
10,061 |
|
商譽 |
|
164,366 |
|
|
|
51,998 |
|
無形資產，扣除累計攤銷 |
|
8,704 |
|
|
|
3,492 |
|
非當前的合約取得成本之延後 |
|
72,167 |
|
|
|
75,815 |
|
其他非流動資產 |
|
13,432 |
|
|
|
13,776 |
|
資產總額 |
$ |
2,608,009 |
|
|
$ |
2,460,809 |
|
負債及股東權益 |
|
|
|
|
|
||
流動負債： |
|
|
|
|
|
||
應付賬款 |
$ |
15,516 |
|
|
$ |
6,714 |
|
應計費用及其他負債 |
|
158,914 |
|
|
|
141,847 |
|
營業租賃負債 |
|
10,738 |
|
|
|
7,890 |
|
逐步認列的收入 |
|
349,787 |
|
|
|
330,570 |
|
流動負債合計 |
|
534,955 |
|
|
|
487,021 |
|
營運租賃負債，非流動 |
|
11,413 |
|
|
|
17,391 |
|
逾期收入，非流動資產 |
|
24,588 |
|
|
|
22,436 |
|
可轉換優先票據，淨額 |
|
1,091,183 |
|
|
|
1,088,313 |
|
其他非流動負債 |
|
11,552 |
|
|
|
35,233 |
|
總負債 |
|
1,673,691 |
|
|
|
1,650,394 |
|
股東權益： |
|
|
|
|
|
||
優先股 |
|
- |
|
|
|
- |
|
A類普通股 |
|
2 |
|
|
|
2 |
|
B類普通股 |
|
1 |
|
|
|
1 |
|
資本公積額額外增資 |
|
2,826,053 |
|
|
|
2,453,293 |
|
其他綜合收益累計額 |
|
9,424 |
|
|
|
1,270 |
|
累積虧損 |
|
(1,901,162 |
) |
|
|
(1,644,151 |
) |
股東權益總額 |
|
934,318 |
|
|
|
810,415 |
|
負債和股東權益總額 |
$ |
2,608,009 |
|
|
$ |
2,460,809 |
|
Confluent, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except share and per share data)
(unaudited)
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
||||||||||
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Revenue: |
|
|
|
|
|
|
|
|
|
|
|
||||
Subscription |
$ |
239,851 |
|
|
$ |
189,270 |
|
|
$ |
671,455 |
|
|
$ |
526,325 |
|
Services |
|
10,348 |
|
|
|
10,911 |
|
|
|
30,967 |
|
|
|
37,443 |
|
Total revenue |
|
250,199 |
|
|
|
200,181 |
|
|
|
702,422 |
|
|
|
563,768 |
|
Cost of revenue: |
|
|
|
|
|
|
|
|
|
|
|
||||
Subscription(1) |
|
52,162 |
|
|
|
44,104 |
|
|
|
153,380 |
|
|
|
131,197 |
|
Services(1) |
|
11,541 |
|
|
|
12,445 |
|
|
|
36,525 |
|
|
|
41,416 |
|
Total cost of revenue |
|
63,703 |
|
|
|
56,549 |
|
|
|
189,905 |
|
|
|
172,613 |
|
Gross profit |
|
186,496 |
|
|
|
143,632 |
|
|
|
512,517 |
|
|
|
391,155 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
||||
Research and development(1) |
|
102,720 |
|
|
|
91,237 |
|
|
|
306,351 |
|
|
|
261,804 |
|
Sales and marketing(1) |
|
137,968 |
|
|
|
128,624 |
|
|
|
402,185 |
|
|
|
385,018 |
|
General and administrative(1) |
|
39,471 |
|
|
|
31,874 |
|
|
|
117,344 |
|
|
|
103,572 |
|
Restructuring and other related charges |
|
- |
|
|
|
529 |
|
|
|
- |
|
|
|
34,854 |
|
Total operating expenses |
|
280,159 |
|
|
|
252,264 |
|
|
|
825,880 |
|
|
|
785,248 |
|
Operating loss |
|
(93,663 |
) |
|
|
(108,632 |
) |
|
|
(313,363 |
) |
|
|
(394,093 |
) |
Other income, net |
|
22,495 |
|
|
|
17,529 |
|
|
|
65,198 |
|
|
|
50,324 |
|
Loss before income taxes |
|
(71,168 |
) |
|
|
(91,103 |
) |
|
|
(248,165 |
) |
|
|
(343,769 |
) |
Provision for income taxes |
|
2,976 |
|
|
|
1,567 |
|
|
|
8,846 |
|
|
|
4,881 |
|
Net loss |
$ |
(74,144 |
) |
|
$ |
(92,670 |
) |
|
$ |
(257,011 |
) |
|
$ |
(348,650 |
) |
Net loss per share, basic and diluted |
$ |
(0.23 |
) |
|
$ |
(0.30 |
) |
|
$ |
(0.80 |
) |
|
$ |
(1.17 |
) |
Weighted-average shares used to compute net loss per share, basic and diluted |
|
324,317,971 |
|
|
|
303,896,632 |
|
|
|
319,330,398 |
|
|
|
297,906,112 |
|
(1) Includes stock-based compensation-related charges* as follows:
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
||||||||||
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Cost of revenue - subscription |
$ |
8,999 |
|
|
$ |
6,350 |
|
|
$ |
26,196 |
|
|
$ |
20,178 |
|
Cost of revenue - services |
|
2,341 |
|
|
|
2,745 |
|
|
|
7,397 |
|
|
|
8,865 |
|
Research and development |
|
42,259 |
|
|
|
38,464 |
|
|
|
125,549 |
|
|
|
106,874 |
|
Sales and marketing |
|
33,639 |
|
|
|
33,095 |
|
|
|
104,751 |
|
|
|
97,042 |
|
General and administrative |
|
14,599 |
|
|
|
11,333 |
|
|
|
45,629 |
|
|
|
37,738 |
|
Total stock-based compensation-related charges |
$ |
101,837 |
|
|
$ |
91,987 |
|
|
$ |
309,522 |
|
|
$ |
270,697 |
|
* Represents stock-based compensation expense, employer taxes on employee stock transactions, and amortization of stock-based compensation capitalized in internal-use software. We began excluding amortization of stock-based compensation capitalized in internal-use software from our non-GAAP measures starting with the quarter ended March 31, 2024. The amounts of amortization of stock-based compensation capitalized in internal-use software were immaterial in both current and prior periods.
Confluent, Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
||||||||||
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
|
|
|
|
|
|
|
|
||||
Net loss |
$ |
(74,144 |
) |
|
$ |
(92,670 |
) |
|
$ |
(257,011 |
) |
|
$ |
(348,650 |
) |
Adjustments to reconcile net loss to cash provided by (used in) operating activities: |
|
|
|
|
|
|
|
|
|
|
|
||||
Depreciation and amortization |
|
5,702 |
|
|
|
3,609 |
|
|
|
15,855 |
|
|
|
9,987 |
|
Net accretion of discounts on marketable securities |
|
(9,294 |
) |
|
|
(11,300 |
) |
|
|
(29,561 |
) |
|
|
(31,021 |
) |
Amortization of debt issuance costs |
|
964 |
|
|
|
961 |
|
|
|
2,870 |
|
|
|
2,850 |
|
Amortization of deferred contract acquisition costs |
|
13,949 |
|
|
|
11,923 |
|
|
|
40,045 |
|
|
|
33,460 |
|
Non-cash operating lease costs |
|
940 |
|
|
|
934 |
|
|
|
2,794 |
|
|
|
3,118 |
|
Lease abandonment charges |
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
15,667 |
|
Stock-based compensation, net of amounts capitalized |
|
98,307 |
|
|
|
89,514 |
|
|
|
292,736 |
|
|
|
260,962 |
|
Deferred income taxes |
|
(111 |
) |
|
|
15 |
|
|
|
231 |
|
|
|
25 |
|
Other |
|
485 |
|
|
|
2,263 |
|
|
|
1,695 |
|
|
|
3,114 |
|
Changes in operating assets and liabilities, net of effects of business combinations: |
|
|
|
|
|
|
|
|
|
|
|
||||
Accounts receivable |
|
(21,577 |
) |
|
|
5,153 |
|
|
|
(50,235 |
) |
|
|
(6,140 |
) |
Deferred contract acquisition costs |
|
(12,244 |
) |
|
|
(15,607 |
) |
|
|
(37,272 |
) |
|
|
(39,573 |
) |
Prepaid expenses and other assets |
|
(2,135 |
) |
|
|
(7,768 |
) |
|
|
(361 |
) |
|
|
(13,825 |
) |
Accounts payable |
|
1,231 |
|
|
|
(488 |
) |
|
|
8,286 |
|
|
|
(19,208 |
) |
Accrued expenses and other liabilities |
|
(10,363 |
) |
|
|
10,413 |
|
|
|
(7,222 |
) |
|
|
17,965 |
|
Operating lease liabilities |
|
(2,020 |
) |
|
|
(1,808 |
) |
|
|
(5,949 |
) |
|
|
(5,562 |
) |
Deferred revenue |
|
25,923 |
|
|
|
(4,204 |
) |
|
|
21,348 |
|
|
|
939 |
|
Net cash provided by (used in) operating activities |
|
15,613 |
|
|
|
(9,060 |
) |
|
|
(1,751 |
) |
|
|
(115,892 |
) |
CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
|
|
|
|
|
|
|
|
||||
Capitalization of internal-use software costs |
|
(5,669 |
) |
|
|
(3,660 |
) |
|
|
(15,984 |
) |
|
|
(13,546 |
) |
Purchases of marketable securities |
|
(273,169 |
) |
|
|
(235,824 |
) |
|
|
(1,172,359 |
) |
|
|
(1,235,588 |
) |
Sales of marketable securities |
|
- |
|
|
|
- |
|
|
|
12,744 |
|
|
|
- |
|
Maturities of marketable securities |
|
374,281 |
|
|
|
228,328 |
|
|
|
1,210,037 |
|
|
|
1,203,711 |
|
Purchases of investments in privately-held companies |
|
(1,250 |
) |
|
|
- |
|
|
|
(2,250 |
) |
|
|
- |
|
Purchases of property and equipment |
|
(607 |
) |
|
|
(363 |
) |
|
|
(1,898 |
) |
|
|
(1,718 |
) |
Cash paid for business combinations, net of cash acquired |
|
(115,516 |
) |
|
|
- |
|
|
|
(115,516 |
) |
|
|
(45,802 |
) |
Net cash used in investing activities |
|
(21,930 |
) |
|
|
(11,519 |
) |
|
|
(85,226 |
) |
|
|
(92,943 |
) |
CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
|
|
|
|
|
|
|
|
|
||||
Proceeds from issuance of common stock upon exercise of vested options |
|
8,835 |
|
|
|
14,673 |
|
|
|
36,332 |
|
|
|
62,945 |
|
Repurchases of unvested common stock |
|
- |
|
|
|
(32 |
) |
|
|
- |
|
|
|
(255 |
) |
Proceeds from issuance of common stock under employee stock purchase plan |
|
8,367 |
|
|
|
11,536 |
|
|
|
23,970 |
|
|
|
28,708 |
|
Net cash provided by financing activities |
|
17,202 |
|
|
|
26,177 |
|
|
|
60,302 |
|
|
|
91,398 |
|
Effect of exchange rate changes on cash and cash equivalents |
|
393 |
|
|
|
(1,198 |
) |
|
|
(480 |
) |
|
|
(1,301 |
) |
Net increase (decrease) in cash and cash equivalents |
|
11,278 |
|
|
|
4,400 |
|
|
|
(27,155 |
) |
|
|
(118,738 |
) |
Cash and cash equivalents at beginning of period |
|
311,328 |
|
|
|
312,643 |
|
|
|
349,761 |
|
|
|
435,781 |
|
Cash and cash equivalents at end of period |
$ |
322,606 |
|
|
$ |
317,043 |
|
|
$ |
322,606 |
|
|
$ |
317,043 |
|
Confluent, Inc.
Reconciliation of GAAP Measures to Non-GAAP Measures
(in thousands, except percentages, share and per share data)
(unaudited)
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
||||||||||
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Reconciliation of GAAP total gross profit to non-GAAP total gross profit: |
|
||||||||||||||
Total gross profit on a GAAP basis |
$ |
186,496 |
|
|
$ |
143,632 |
|
|
$ |
512,517 |
|
|
$ |
391,155 |
|
Total gross margin on a GAAP basis |
74.5% |
|
|
71.8% |
|
|
73.0% |
|
|
69.4% |
|
||||
Add: Stock-based compensation-related charges |
|
11,340 |
|
|
|
9,095 |
|
|
|
33,593 |
|
|
|
29,043 |
|
Add: Amortization of acquired intangibles |
|
585 |
|
|
|
129 |
|
|
|
1,588 |
|
|
|
369 |
|
Non-GAAP total gross profit |
$ |
198,421 |
|
|
$ |
152,856 |
|
|
$ |
547,698 |
|
|
$ |
420,567 |
|
Non-GAAP total gross margin |
79.3% |
|
|
76.4% |
|
|
78.0% |
|
|
74.6% |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
Reconciliation of GAAP operating expenses to non-GAAP operating expenses: |
|
||||||||||||||
Research and development operating expense on a GAAP basis |
$ |
102,720 |
|
|
$ |
91,237 |
|
|
$ |
306,351 |
|
|
$ |
261,804 |
|
Research and development operating expense as a percentage of total revenue on a GAAP basis |
41.1% |
|
|
45.6% |
|
|
43.6% |
|
|
46.4% |
|
||||
Less: Stock-based compensation-related charges |
|
42,259 |
|
|
|
38,464 |
|
|
|
125,549 |
|
|
|
106,874 |
|
Less: Acquisition-related expenses |
|
5,870 |
|
|
|
3,841 |
|
|
|
14,704 |
|
|
|
15,362 |
|
Non-GAAP research and development operating expense |
$ |
54,591 |
|
|
$ |
48,932 |
|
|
$ |
166,098 |
|
|
$ |
139,568 |
|
Non-GAAP research and development operating expense as a percentage of total revenue |
21.8% |
|
|
24.4% |
|
|
23.6% |
|
|
24.8% |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
Sales and marketing operating expense on a GAAP basis |
$ |
137,968 |
|
|
$ |
128,624 |
|
|
$ |
402,185 |
|
|
$ |
385,018 |
|
Sales and marketing operating expense as a percentage of total revenue on a GAAP basis |
55.1% |
|
|
64.3% |
|
|
57.3% |
|
|
68.3% |
|
||||
Less: Stock-based compensation-related charges |
|
33,639 |
|
|
|
33,095 |
|
|
|
104,751 |
|
|
|
97,042 |
|
Less: Acquisition-related expenses |
|
- |
|
|
|
1,076 |
|
|
|
- |
|
|
|
3,228 |
|
Non-GAAP sales and marketing operating expense |
$ |
104,329 |
|
|
$ |
94,453 |
|
|
$ |
297,434 |
|
|
$ |
284,748 |
|
Non-GAAP sales and marketing operating expense as a percentage of total revenue |
41.7% |
|
|
47.2% |
|
|
42.3% |
|
|
50.5% |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
General and administrative operating expense on a GAAP basis |
$ |
39,471 |
|
|
$ |
31,874 |
|
|
$ |
117,344 |
|
|
$ |
103,572 |
|
General and administrative operating expense as a percentage of total revenue on a GAAP basis |
15.8% |
|
|
15.9% |
|
|
16.7% |
|
|
18.4% |
|
||||
Less: Stock-based compensation-related charges |
|
14,599 |
|
|
|
11,333 |
|
|
|
45,629 |
|
|
|
37,738 |
|
Less: Acquisition-related expenses |
|
1,169 |
|
|
|
148 |
|
|
|
1,400 |
|
|
|
990 |
|
Non-GAAP general and administrative operating expense |
$ |
23,703 |
|
|
$ |
20,393 |
|
|
$ |
70,315 |
|
|
$ |
64,844 |
|
Non-GAAP general and administrative operating expense as a percentage of total revenue |
9.5% |
|
|
10.2% |
|
|
10.0% |
|
|
11.5% |
|
||||
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
||||||||||
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Reconciliation of GAAP operating loss to non-GAAP operating income (loss): |
|
||||||||||||||
Operating loss on a GAAP basis |
$ |
(93,663 |
) |
|
$ |
(108,632 |
) |
|
$ |
(313,363 |
) |
|
$ |
(394,093 |
) |
GAAP operating margin |
(37.4%) |
|
|
(54.3%) |
|
|
(44.6%) |
|
|
(69.9%) |
|
||||
Add: Stock-based compensation-related charges |
|
101,837 |
|
|
|
91,987 |
|
|
|
309,522 |
|
|
|
270,697 |
|
Add: Amortization of acquired intangibles |
|
585 |
|
|
|
129 |
|
|
|
1,588 |
|
|
|
369 |
|
Add: Acquisition-related expenses |
|
7,039 |
|
|
|
5,065 |
|
|
|
16,104 |
|
|
|
19,580 |
|
Add: Restructuring and other related charges |
|
- |
|
|
|
529 |
|
|
|
- |
|
|
|
34,854 |
|
Non-GAAP operating income (loss) |
$ |
15,798 |
|
|
$ |
(10,922 |
) |
|
$ |
13,851 |
|
|
$ |
(68,593 |
) |
Non-GAAP operating margin |
6.3% |
|
|
(5.5%) |
|
|
2.0% |
|
|
(12.2%) |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
||||
Reconciliation of GAAP net loss to non-GAAP net income (loss): |
|
||||||||||||||
Net loss on a GAAP basis |
$ |
(74,144 |
) |
|
$ |
(92,670 |
) |
|
$ |
(257,011 |
) |
|
$ |
(348,650 |
) |
Add: Stock-based compensation-related charges |
|
101,837 |
|
|
|
91,987 |
|
|
|
309,522 |
|
|
|
270,697 |
|
Add: Amortization of acquired intangibles |
|
585 |
|
|
|
129 |
|
|
|
1,588 |
|
|
|
369 |
|
Add: Acquisition-related expenses |
|
7,039 |
|
|
|
5,065 |
|
|
|
16,104 |
|
|
|
19,580 |
|
Add: Restructuring and other related charges |
|
- |
|
|
|
529 |
|
|
|
- |
|
|
|
34,854 |
|
Add: Amortization of debt issuance costs |
|
964 |
|
|
|
961 |
|
|
|
2,870 |
|
|
|
2,850 |
|
Add: Income tax effects and adjustments |
|
(1,529 |
) |
|
|
328 |
|
|
|
(1,964 |
) |
|
|
1,197 |
|
Non-GAAP net income (loss) |
$ |
34,752 |
|
|
$ |
6,329 |
|
|
$ |
71,109 |
|
|
$ |
(19,103 |
) |
Non-GAAP net income (loss) per share, basic |
$ |
0.11 |
|
|
$ |
0.02 |
|
|
$ |
0.22 |
|
|
$ |
(0.06 |
) |
Non-GAAP net income (loss) per share, diluted |
$ |
0.10 |
|
|
$ |
0.02 |
|
|
$ |
0.20 |
|
|
$ |
(0.06 |
) |
Weighted-average shares used to compute non-GAAP net income (loss) per share, basic |
|
324,317,971 |
|
|
|
303,896,632 |
|
|
|
319,330,398 |
|
|
|
297,906,112 |
|
Weighted-average shares used to compute non-GAAP net income (loss) per share, diluted |
|
353,577,179 |
|
|
|
346,974,638 |
|
|
|
352,685,531 |
|
|
|
297,906,112 |
|
The following table presents a reconciliation of free cash flow to net cash provided by (used in) operating activities, the most directly comparable GAAP measure, for each of the periods indicated (unaudited, in thousands, except percentages):
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
||||||||||
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Net cash provided by (used in) operating activities |
$ |
15,613 |
|
|
$ |
(9,060 |
) |
|
$ |
(1,751 |
) |
|
$ |
(115,892 |
) |
Capitalized internal-use software costs |
|
(5,669 |
) |
|
|
(3,660 |
) |
|
|
(15,984 |
) |
|
|
(13,546 |
) |
Capital expenditures |
|
(607 |
) |
|
|
(363 |
) |
|
|
(1,898 |
) |
|
|
(1,718 |
) |
Free cash flow |
$ |
9,337 |
|
|
$ |
(13,083 |
) |
|
$ |
(19,633 |
) |
|
$ |
(131,156 |
) |
Free cash flow margin |
3.7% |
|
|
(6.5%) |
|
|
(2.8%) |
|
|
(23.3%) |
|
||||
Net cash used in investing activities |
$ |
(21,930 |
) |
|
$ |
(11,519 |
) |
|
$ |
(85,226 |
) |
|
$ |
(92,943 |
) |
Net cash provided by financing activities |
$ |
17,202 |
|
|
$ |
26,177 |
|
|
$ |
60,302 |
|
|
$ |
91,398 |
|