SplunK(NASDAQ:SPLK) Q4 2023 revenues of $1.251 billion, up 39% year-over-year

March 1, 2023 – Splunk Inc. (NASDAQ: SPLK), the cybersecurity and observability leader, today announced results for its fiscal fourth quarter and full year ended January 31, 2023.

Splunk Inc. (NASDAQ: SPLK) reported fiscal Q4 net income per diluted share was $1.44,Analysts surveyed by Capital IQ expected $0.13 a share.

Revenue for the quarter ended Jan. 31 was $1.25 billion, Analysts polled by Capital IQ expected $1.07 billion.

For fiscal Q1 2024, which ends on April 30, revenue is expected to be between $710 million and $725 million versus consensus estimates of $803.4 million.

For fiscal 2024 ending on January 31, 2024, the company expects revenue in the range of $3.85 billion and $3.9 billion versus consensus estimates of $4.01 billion.

Fourth Quarter 2023 Financial Highlights

Total revenues were $1.251 billion, an increase of 39% year-over-year.

GAAP operating margin was 21.3%; Non-GAAP operating margin was 37.9%。

GAAP net income was $269 million; GAAP EPS was $1.44.

Operating cash flow was $276 million; Free cash flow was $269 million.

790 customers with total ARR greater than $1 million, an increase of 115 year-over-year.

Full Year 2023 Financial Highlights

Total revenues were $3.654 billion, up 37% year-over-year.

Total ARR was $3.674 billion, up 18% year-over-year.

Cloud revenue was $1.457 billion, up 54% year-over-year.

GAAP operating margin was (6.4)%; Non-GAAP operating margin was 17.6%.

Operating cash flow was $450 million; Free cash flow was $427 million.

Financial OutlookThe company is providing the following guidance for its fiscal first quarter 2024 (ending April 30, 2023):
•Total ARR is expected to be approximately $3.7 billion.
•Total revenues are expected to be between $710 million and $725 million.
•Non-GAAP operating margin is expected to be between negative 3% and negative 5%.
•Free cash flow is expected to be approximately $475 million.

The company is providing the following guidance for its fiscal year 2024 (ending January 31, 2024):
•Total ARR is expected to be between $4.125 billion and $4.175 billion.
•Total revenues are expected to be between $3.85 billion and $3.9 billion.
•Non-GAAP operating margin is expected to be between 16.5% and 17.5%.
•Free cash flow is expected to be between $775 million and $795 million.

Splunk Inc. Condensed Consolidated Statements of Operations

About Splunk Inc.

Splunk Inc. (NASDAQ: SPLK) helps build a safer and more resilient digital world. Organizations trust Splunk to prevent security, infrastructure and application issues from becoming major incidents, absorb shocks from digital disruptions, and accelerate digital transformation.