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May 29, 2015

Splunk Announces Fiscal First Quarter 2016 Financial Results

SAN FRANCISCO, Calif., May 29 — Splunk Inc., provider of the leading software platform for real-time Operational Intelligence, yesterday announced results for its fiscal first quarter ended April 30, 2015.

First Quarter 2016 Financial Highlights

  • Total revenues were $125.7 million, up 46% year-over-year.
  • License revenues were $71.9 million, up 40% year-over-year.
  • GAAP operating loss was $71.0 million; GAAP operating margin was negative 56.5%.
  • Non-GAAP operating loss was $0.7 million; non-GAAP operating margin was negative 0.6%.
  • GAAP loss per share was $0.57; non-GAAP loss per share was $0.01.
  • Operating cash flow was $28.6 million with free cash flow of $22.2 million.

“Our customers are moving towards enterprise-wide adoption of our products and solutions for a growing set of use cases,” said Godfrey Sullivan, Chairman and CEO. “Q1 was a strong quarter and we appreciate and thank our 9,500 customers, which now include 80 of the Fortune 100. We welcomed a record number of new customers to Splunk Cloud driven by the compelling value delivered by our solutions across on-premises, cloud and hybrid environments.”

First Quarter 2016 and Recent Business Highlights

Customers:

  • Signed more than 450 new enterprise customers, ending the quarter with over 9,500 customers worldwide.

New and Expansion Customers Include: Adobe, AOL, Al Rajhi Bank (Saudi Arabia), Bloomberg, City of Los Angeles, Denver International Airport, Laing O’Rourke (Australia), Measat Broadcast Network Systems (Malaysia), New South Wales Electoral Commission (Australia), Partners HealthCare, Recreational Equipment Inc. (REI), Saudi Arabian Airlines, Shazam (United Kingdom), SIX Swiss Exchange, Société Générale (France), Sony Playstation Network, Sky Brasil, Sun Hung Kai Real Estate (Hong Kong), Swisscom, TASER International, Thomson Reuters, University of Hong Kong, University of California San Diego and Vivint.

Products:

  • Introduced Splunk Light, a new and more affordable way for individuals and small IT environments to get started with Splunk software, with prices starting at $75 per month.
  • Announced the international availability of Splunk Cloud through nine Amazon Web Services global regions.
  • Announced a new version of the Splunk App for Enterprise Security, which doubled its customer base in fiscal 2015.
  • Released a new version of Splunk MINT that enables advanced insight on mobile app performance, problems and usage.
  • Began Windows 2008 R2 and Windows 7 support for the Splunk App For Stream, adding further operability beyond the pre-existing options for Linux and Mac.

Appointments:

  • Appointed Snehal Antani as chief technology officer.
  • Appointed Amy Chang to the Splunk Board of Directors.

Financial Outlook

The company is providing the following guidance for its fiscal second quarter 2016 (ending July 31, 2015):

  • Total revenues are expected to be between $138 million and $140 million.
  • Non-GAAP operating margin is expected to be between 1% and 2%.

The company is updating its previous guidance for its fiscal year 2016 (ending January 31, 2016):

  • Total revenues are expected to be between $610 million and $614 million (was approximately $600 million per prior guidance provided on February 26, 2015).
  • Non-GAAP operating margin is expected to be between 2% and 3%.

Source: Splunk Inc.

 

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