Data-to-Everything Platform provider Splunk announced results for the second quarter of its fiscal year. The company stated that cloud revenue was $217 million for the quarter, with a 73% year-over-year increase. CEO of Splunk stated that the company doubled the number of customers with Cloud ARR of $1 million or more. The company also announced the financial outlook for the next quarter and the fiscal year.
Financial highlights:
- Cloud ARR was $976 million, up 72% year-over-year.
- Total ARR was $2.63 billion, up 37% year-over-year.
- Cloud revenue was $217 million, up 73% year-over-year.
- Total revenues were $606 million, up 23% year-over-year.
- 234 customers with Cloud ARR greater than $1 million, up 100% year-over-year.
- 582 customers with Total ARR greater than $1 million, up 47% year-over-year.
Doug Merritt, President and CEO of Splunk said,
“Our team delivered another strong quarter, validating the high strategic value we deliver to the world’s largest and most dynamic organizations. We doubled the number of customers with Cloud ARR of $1 million dollars or more as workloads and data continue to shift to cloud. Our second quarter execution was broad-based with each of our major geographic regions exceeding our own expectations as more and more customers around the world rely on Splunk and our market-leading data platform and cloud-based capabilities.”
The company is providing the following guidance for its fiscal third-quarter 2022:
- Cloud ARR is expected to be between $1.10 billion and $1.11 billion.
- Total ARR is expected to be between $2.8 billion and $2.825 billion.
- Total revenues are expected to be between $625 million and $650 million.
- Non-GAAP operating margin is expected to be between negative 15% and negative 20%.
The company is providing the following guidance for its fiscal year 2022:
- Cloud ARR is expected to be between $1.305 billion and $1.330 billion.
- Total ARR is expected to be between $3.085 billion and $3.135 billion.
- Total revenues are expected to be between $2.53 billion and $2.60 billion.
- Non-GAAP operating margin is expected to be between negative 14% and negative 17%.
- Operating Cash Flow is expected to be approximately $100 million.
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