Security and observability platform provider Splunk announced its financial results for the third quarter ended October 31. Splunk’s total revenues were $655 million for the quarter, increased by 19% from the same quarter of the previous year. The company also announced that its executive management team is hosting a conference call to discuss financial results and business highlights.
Financial highlights
- Cloud ARR was $1.11 billion, up 75% year-over-year.
- Total ARR was $2.83 billion, up 37% year-over-year.
- Cloud revenue was $243 million, up 68% year-over-year.
- Total revenues were $665 million, up 19% year-over-year.
- 270 customers with cloud ARR greater than $1 million, up 96% year-over-year.
- 635 customers with total ARR greater than $1 million, up 43% year-over-year.
Graham Smith, interim CEO and chair of Splunk said,
« Q3 marked a significant milestone for Splunk as it was our first billion-dollar cloud ARR quarter, with cloud accounting for a record 68% of our software bookings. Our third quarter results underscore the role Splunk is playing in our customers’ digital transformations and the immense trust organizations have in our data platform and security and observability solutions. »
The company is providing the following guidance for its fiscal fourth quarter 2022 (ending January 31, 2022):
- Cloud ARR is expected to be between $1.325 billion and $1.350 billion.
- Total ARR is expected to be between $3.085 billion and $3.135 billion.
- Total revenues are expected to be between $740 million and $790 million.
- Non-GAAP operating margin is expected to be between negative 2% and negative 8%.
The company is providing the following guidance for its fiscal year 2022 (ending January 31, 2022):
- Total revenues are expected to be between $2.51 billion and $2.56 billion.
- Non-GAAP operating margin is expected to be between negative 15% and negative 17%.
- Operating cash flow is expected to be approximately $100 million.