Revenue Growth - Subscription revenue reached $240 million, up 27% year over year[1] - Confluent Cloud revenue grew to $130 million, up 42% year over year[1] - Total revenue for Q3 2024 was $250.2 million, up 25% year over year[3] - Total revenue for Q3 2024 increased to $250.2 million, up 25% from $200.2 million in Q3 2023[14] - Subscription revenue grew to $239.9 million in Q3 2024, a 26.7% increase from $189.3 million in Q3 2023[14] - Confluent Cloud revenue growth driven by increased adoption of data streaming platforms[7] Customer Metrics - 1,346 customers with $100,000 or greater in ARR, a 14% year-over-year increase[1] Financial Performance - Non-GAAP operating income improved to $15.8 million from a loss of $10.9 million in Q3 2023[3] - Free cash flow margin improved to 3.7% from -6.5% in Q3 2023[3] - Net loss improved to $74.1 million in Q3 2024, compared to a net loss of $92.7 million in Q3 2023[14] - GAAP operating loss for Q3 2024 was $93.7 million, compared to $108.6 million in Q3 2023, with GAAP operating margins improving from -54.3% to -37.4%[19] - Non-GAAP operating income for Q3 2024 was $15.8 million, a significant improvement from a loss of $10.9 million in Q3 2023, with non-GAAP operating margins improving from -5.5% to 6.3%[19] - GAAP net loss for Q3 2024 was $74.1 million, compared to $92.7 million in Q3 2023, while non-GAAP net income improved to $34.8 million from $6.3 million in the same period last year[19] - Free cash flow for Q3 2024 was $9.3 million, a significant improvement from a negative $13.1 million in Q3 2023, with free cash flow margins improving from -6.5% to 3.7%[20] - Net cash provided by operating activities in Q3 2024 was $15.6 million, compared to a negative $9.1 million in Q3 2023[20] Guidance and Targets - Q4 2024 subscription revenue guidance raised to $245-$246 million[4] - Full-year 2024 subscription revenue guidance updated to $916.5-$917.5 million[4] - Non-GAAP operating margin targeted to be positive for 2024[2] Cash Flow and Liquidity - Cash and cash equivalents decreased to $322.6 million as of September 30, 2024, down from $349.8 million at the end of 2023[13] - Marketable securities remained stable at $1.54 billion as of September 30, 2024, compared to $1.55 billion at the end of 2023[13] - Net cash provided by operating activities for the three months ended September 30, 2024, was $15.6 million, compared to a net cash used of $9.1 million in the same period in 2023[16] - Purchases of marketable securities for the three months ended September 30, 2024, were $273.2 million, compared to $235.8 million in the same period in 2023[16] - Cash paid for business combinations, net of cash acquired, for the three months ended September 30, 2024, was $115.5 million, compared to $0 in the same period in 2023[16] - Capital expenditures in Q3 2024 were $607,000, compared to $363,000 in Q3 2023[20] - Net cash used in investing activities in Q3 2024 was $21.9 million, compared to $11.5 million in Q3 2023[20] - Net cash provided by financing activities in Q3 2024 was $17.2 million, compared to $26.2 million in Q3 2023[20] Operating Expenses - Total operating expenses for Q3 2024 were $280.2 million, up 11.1% from $252.3 million in Q3 2023[14] - Research and development expenses increased to $102.7 million in Q3 2024, up 12.6% from $91.2 million in Q3 2023[14] - Stock-based compensation-related charges totaled $101.8 million in Q3 2024, up 10.7% from $92.0 million in Q3 2023[15] - Stock-based compensation for the three months ended September 30, 2024, was $98.3 million, up from $89.5 million in the same period in 2023[16] - Non-GAAP research and development operating expense as a percentage of total revenue for the three months ended September 30, 2024, was 21.8%, down from 24.4% in the same period in 2023[18] - Non-GAAP sales and marketing operating expense as a percentage of total revenue for the three months ended September 30, 2024, was 41.7%, down from 47.2% in the same period in 2023[18] Balance Sheet and Assets - Accounts receivable increased to $278.7 million as of September 30, 2024, up 21.2% from $230.0 million at the end of 2023[13] - Total assets grew to $2.61 billion as of September 30, 2024, up 6% from $2.46 billion at the end of 2023[13] Gross Margins - Total gross margin on a GAAP basis for the three months ended September 30, 2024, was 74.5%, up from 71.8% in the same period in 2023[17] - Non-GAAP total gross margin for the three months ended September 30, 2024, was 79.3%, compared to 76.4% in the same period in 2023[18]

Group 1 - The expectation of a post-election market rally in the last two months of 2024, potentially driven by significant inflows of capital that has been sidelined [1] - Anticipation of more interest rate cuts as part of the economic outlook [1]

These stocks are trading at attractive valuations relative to their history, especially in light of their opportunities in the artificial intelligence space. Wall Street doesn't always get things right, but it can be useful to pay attention when analysts reach a consensus on a particular stock. Sometimes, it can suggest potential upside on the horizon. The majority of the analysts tracked by The Wall Street Journal have given shares of Zscaler (ZS 0.49%) and Confluent (CFLT 0.05%) the highest possible buy r ...

Group 1 - Confluent Medical Technologies announced that Dean Schauer has taken on the role of Chairman in addition to his existing responsibilities as CEO and President [1] - Schauer expressed gratitude for the trust placed in him and emphasized the company's commitment to innovation, excellence, and enhancing materials sciences capabilities [2] - Under Schauer's leadership, Confluent has more than quadrupled its revenue and established itself as a pioneer and trusted partner to OEMs globally [3] Group 2 - Confluent specializes in the design, development, and large-scale manufacturing of interventional catheter-based devices and implants, focusing on Nitinol materials and complex catheters [4] - The company has facilities in multiple locations across the United States and Costa Rica, showcasing its extensive manufacturing capabilities [4] - Confluent has built a strong reputation in the medical device community through its innovative materials science and engineering [4]

Group 1: Confluent - Confluent is a leader in data streaming technology, which is essential for real-time data management in various sectors, including e-commerce and finance [3][4] - The addressable market for data streaming is estimated to be worth $60 billion, with potential growth driven by artificial intelligence (AI) applications [5] - Confluent generated $865 million in revenue over the last four quarters, with a 13% increase in total customers year-over-year, and a 20% increase in customers spending at least $1 million annually [6][8] - Analysts show strong support for Confluent, with 21 out of 32 analysts giving it the highest buy rating, and an average 12-month price target of $30.79, indicating a potential upside of 49% [7][8] Group 2: Datadog - Datadog provides a platform for monitoring cloud infrastructure, crucial for businesses with an online presence to ensure seamless operations [9][10] - The company recently launched AI tools to monitor large language models (LLMs), which are foundational for AI applications, enhancing its service offerings [12] - Datadog reported $645 million in revenue for the second quarter of 2024, with 4% attributed to AI, reflecting a doubling from the previous year [13] - Analysts are bullish on Datadog, with 28 out of 42 analysts giving it the highest buy rating, and an average 12-month price target of $144.73, suggesting a potential upside of 28% [15][16]

This data streaming specialist is growing at a robust pace and only scratching the surface of a huge end-market opportunity. Shares of Confluent (CFLT 0.14%) started 2024 on a positive note. They shot up nearly 50% in the first two months of 2024. But things have since been going downhill for the data streaming provider, as it has fallen 36% from its year-to-date high. Confluent stock is now down for the year, underperforming the Nasdaq-100 Technology Sector index. The stock received another hammering follo ...

Leading stock indexes like the Nasdaq Composite and Dow Jones Industrial Average saw massive drops last week. Traditionally, the stock market has been subject to external forces like inflation data, geopolitics and new technological advances. The market always goes through cycles of bear and bull markets. Long-term investors know that picking the right comeback stocks is the only way to earn big investment returns. These are stocks whose long-term performance will lead to huge returns. For investors, the be ...

Wall Street pays significant attention to the technology sector as tech companies typically deliver substantial returns to investors. However, the volatile nature of this industry means that tech stocks can especially shortterm experience downturns. This volatility is typically a result of macroeconomic factors, company-specific challenges and market sentiment. Recently, the First Trust NASDAQ-100-Technology Sector Index Fund (NASDAQ:QTEC) has seen a decline of nearly 4% in July and another 6% in August, al ...

These three stocks can be game-changing for your long-term portfolio. The U.S. stock market has been very volatile in the past decade and has been influenced by factors such as economic releases, geopolitical tensions, and technological advancements. With the market constantly cycling through bull and bear phases, long-term investors need to pick stakes in stocks with sustainable competitive advantages. Companies that are flexible and resource-rich enough to adapt to changing market conditions fare better t ...

Data streaming is becoming a critical technology for a growing number of businesses. Confluent (CFLT 2.01%) is a leading developer of data streaming technologies that power many of our online experiences. Stock brokerage platforms use it to feed live pricing data directly to clients, and e-commerce websites use it to provide real-time inventory information to shoppers. As more of our everyday lives migrate into the digital age, the demand for data streaming will only grow. Confluent just reported its financ ...