CFLT - Confluent stock gains premarket as FY guidance tops estimates
- Confluent ( NASDAQ: CFLT ) stock gained 9.4% premarket on Wednesday after the software provider provided 2022 guidance that topped estimates in its Q2 earnings report .
- CFLT expects 2022 adj. net loss per share of $0.73-$0.69, a narrower loss compared to consensus estimate of -$0.76.
- 2022 revenue is estimated to be $567M-$571M, well above consensus estimate of $559.32M.
- CFLT expects Q3 adj. net loss per share of $0.19-$0.17 vs. consensus estimate of -$0.19.
- Q3 revenue is projected to be $143M-$145M vs. consensus estimate of $142.11M.
- CFLT reported Q2 adj. EPS of -$0.16 vs. -$0.31 in Q2 2021.
- Revenue increased 57.8% Y/Y to $139.4M, led by more than double revenue growth from Confluent Cloud (at $47M).
- Subscription revenue grew 61.8% to $127M while services revenue increased 26.1% to $12.4M.
- Remaining performance obligations increased 81% to $591M.
- CFLT reported 857 customers with $100K or greater in ARR, up 39%.
- Shares of CFLT have declined 58.5% YTD.
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Confluent stock gains premarket as FY guidance tops estimates