Splunk Announces First Quarter Financial Results

Splunk (NASDAQ:SPLK), an IT operations company powered by machine-learning that is focused on big data, announced its first quarter financial results. The company reported a 36 percent increase in total revenues year-over-year while its GAAAP operating loss stood at US$145 million.

As quoted in the press release:

First Quarter 2020 Financial Highlights

• Software revenues were $265 million, up 54% year-over-year.
• Total revenues were $425 million, up 36% year-over-year.
• GAAP operating loss was $145 million; GAAP operating margin was negative 34.1%.
• Non-GAAP operating loss was $7.8 million; non-GAAP operating margin was negative 1.8%.
• GAAP loss per share was $1.04; non-GAAP income per share was $0.02.
• Operating cash flow was $35.0 million with free cash flow of $20.1 million.

“Our customers are successful because they can unlock value from their growing data landscapes with the unique Splunk platform, and this is what fuels our strong performance,” said Doug Merritt, President and CEO, Splunk. “In Q1, we released Splunk Connected Experiences and Splunk Business Flow, new products that are part of our vision to take Splunk beyond IT and security and to bring our customers closer to their data. These products further differentiate Splunk as we strive to bring data to every question, every decision and every outcome for any organization.”

Click here to read the full press release.