Splunk Inc Q3 2023 Earnings Call Summary

Edited Brief of SPLK.OQ earnings conference call or presentation 30-Nov-22 9:30pm GMT

...A. Highlights: Delivered solid 3Q results. 1. Demonstrates progress in Co.'s disciplined approach to deliver long-term durable growth and profitability. a. 2. Co. grew: Total revenues by 40% to $930m. a. b. Cloud revenues by 54% to $374m. 3. Top line outperformance was driven by strong term license demand from existing customers, underscoring the value customers continue to gain from Co.'s mission-critical security and observability solutions, powered by its one-of-a-kind data platform. As noted last qtr., continues to see caution from customers on the timing of their cloud migrations and expansions, citing ongoing macro concerns. a. 4. Made good progress on expense controls. 5. Key contributors to delivering a nearly $350m improvement in free cash flow on a trailing 12 month over trailing 12 month basis were: a. Revenue outperformance. b. Expense reductions. B. Current Environment: SPLK is the leader within a massive and growing market opportunity. 1. 2. In the current macro-environment,...

Brief