12/4/2023 0 Comments Splunk inc earnings date![]() ![]() Underlying all of this is a loyal customer base that continues to expand their usage of Splunk. Over the past couple of years, as Splunk transformed itself to a cloud company, it also positioned itself on a growth path with the critical ingredients to grow from over $3 billion in ARR to $5 billion and beyond. All of this translated to a massive untapped unique opportunity from which I believe we can drive long-term durable growth while progressively increasing operating margins and cash flow. Splunk is a system of record that's deeply embedded within customers' businesses and provides the foundation for security and resilience so they can innovate with speed and agility. What I came to learn is that Splunk is the technology underpinning and powering many of the largest companies in the world. Given this data-centric approach, I also fundamentally believe that there was so much more that could be done in that context given the complexity of an ever-growing attack surface and an unrelenting threat environment.Īdditionally, through my discussions with the Board, Splunkers and customers, I began to understand the true power of this Splunk platform and the value it's bringing to organizations that are leveraging it for observability as well as many other use cases. Coming from a cyber background, I'd always admire Splunk for the role that it has played in providing the largest companies in the world, unparalleled visibility that is essential to security teams to understand what's happening in their environment. I'd like to start by sharing what inspired me to join Splunk, what I've learned so far and my initial priorities. Jason will dive deeper into the numbers in a few minutes. I'm excited to report that we grew total revenues by 34% to $674 million and Cloud revenues by 66% to $323 million, reflecting strong customer demand and bookings momentum. I recognize that such periods of uncertainty can create distractions, but this team stayed focused and drove solid execution in the quarter. I'd first like to thank Splunk Chair, Graham Smith, for leading the team during our CEO transition. It's been an amazing six weeks for me as I rapidly come up to speed on the business and the opportunities in front of us. I'm thrilled to join my first Splunk earnings call, reconnect with many of you and talk with those of you I haven't met yet. So with that, let me turn it over to Gary. A reconciliation of GAAP and non-GAAP results is provided in the press release and on our website. We will also discuss non-GAAP financial measures, which are not prepared in accordance with Generally Accepted Accounting Principles. If this call is reviewed after today, the information presented during this call may not contain current or accurate information. These forward-looking statements are being made as of today, and we disclaim any obligation to update or revise these statements. Those documents contain risks and other factors that may cause our actual results to differ from those contained in our forward-looking statements. Please refer to documents we file with the SEC, including the 8-K filed with today's press release. Actual events or results may differ materially. These statements are subject to risks and uncertainties and based on our assumptions as to the macroeconomic environment and reflect our best judgment based on factors currently known to us. On today's call, we will be making forward-looking statements, including financial guidance and expectations, including our forecast for our second quarter and full year fiscal 2023 and our expectations of revenues, renewals, operating margin, operating cash flow and rule of 40 scale, as well as trends in our markets and business, our strategies and our expectations regarding our business, products, technology, customers, demand and markets. This conference call is being broadcast live via webcast, and following the call, an audio replay will be available on our website. With me on the call today are Gary Steele and Jason Child.Īfter market closed today, we issued our earnings press release, which is posted on our Investor Relations website, along with supplemental material. I would now like to introduce your host for today's program, Ken Tinsley, Corporate Treasurer and Vice President of Investor Relations. ![]() As a reminder, today's program is being recorded. After the speakers' presentation, there will be a question-and-answer session. At this time, all participants are in listen-only mode. Thank you for standing by, and welcome to Splunk's First Quarter 2023 Financial Results Conference Call. Gary Steele - Interim Chief Executive Officer Ken Tinsley - Corporate Treasurer & Vice President of Investor Relations ![]() ( NASDAQ: SPLK) Q1 2023 Earnings Conference Call 4:30 PM ET ![]()
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