CFLT - Confluent: Resilient Consumption Trends Amidst Broader Software Slowdown

2024-07-02 12:22:41 ET

Summary

• Confluent started the year right, with better-than-expected topline metrics and lower-than-expected operating loss.
• There was stabilization in the cloud consumption trend in the quarter, and Confluent saw net-new use cases in the broader customer base, including with the digital native customers.
• The company saw early signs of success from its cloud go-to-market transformation and added 160 new customers in Q1.
• This was the first quarter where Confluent explained more about the opportunity surrounding its newer products and the long-term vision of the data streaming platform.

Confluent ( CFLT ) started the year right, with better-than-expected topline metrics and lower-than-expected operating loss.

We saw some early signs of success from its cloud go-to-market transformation initiative and stabilized cloud consumption trend even amidst a softer software backdrop....

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