Confluent Soars Past Q4 Forecasts
Confluent exceeded expectations in the fourth quarter thanks to significant cloud subscription growth and improved cash flow.
Confluent (NASDAQ:CFLT), operator of a cloud-centric data streaming platform, delivered its fourth-quarter earnings results on Feb. 11. The company reported non-GAAP earnings per share (EPS) of $0.09, which was well above the analysts' consensus estimate of $0.06 and also exceeded the company's guidance of $0.05. Total revenue for the quarter grew 23% year over year to $261.2 million, surpassing the consensus estimate of $256 million. Overall, the quarter highlighted strong demand for Confluent's cloud offerings and robust improvements in its cash flow metrics, although operating losses remain a point of concern for investors.
Source: Analysts' estimates provided by FactSet.
Confluent operates a data streaming platform primarily focused on delivering real-time data processing capabilities in native cloud environments. It offers a suite of products, including Confluent Cloud, a software-as-a-service (SaaS) solution, and Confluent Platform for on-premises use. Its solutions are designed to support cloud-native, hybrid, and multicloud deployments.
