Informatica (US:INFA)2025-05-07 20:06Revenue Growth - Cloud Subscription Annualized Recurring Revenue (ARR) increased to $848 million, representing 30% year-over-year growth[6] - Total ARR increased to $1.70 billion, representing 4.1% year-over-year growth[6] - GAAP Total Revenues increased to $403.9 million, representing 3.9% year-over-year growth[7] - GAAP Cloud Subscription Revenue increased to $199.9 million, representing 32% year-over-year growth[7] - Subscription revenue for Q1 2025 was $284,010,000, an increase of 12.4% compared to $251,998,000 in Q1 2024[47] - Total revenues for Q1 2025 reached $403,897,000, up from $388,607,000 in Q1 2024, reflecting a growth of 3.3%[47] - Total Annual Recurring Revenue rose to $1,703,575,000 in 2025, compared to $1,636,494,000 in 2024, marking an increase of 4%[59] - Total revenues for the three months ended March 31, 2025, were $403,897,000, compared to $388,607,000 for the same period in 2024, an increase of 4%[61] - Cloud subscription revenue for the three months ended March 31, 2025, was $199,935,000, up from $151,438,000 in 2024, an increase of 32%[61] - Total subscription and maintenance revenue for the three months ended March 31, 2025, was $387,219,000, compared to $369,676,000 in 2024, reflecting a growth of 5%[61] Customer Metrics - Achieved a Cloud Subscription Net Retention Rate (NRR) of 120% as of March 31, 2025[9] - Cloud Subscription Net Retention Rate decreased to 120% in 2025 from 124% in 2024[59] - Total Cloud Subscription Annual Recurring Revenue customers grew to 2,475 in 2025, up from 2,293 in 2024, reflecting an increase of 8%[61] - Maintenance Renewal Rate slightly decreased to 93% in 2025 from 94% in 2024[61] Operational Performance - Income from operations improved significantly to $33,827,000 in Q1 2025, compared to $3,225,000 in Q1 2024[47] - GAAP income from operations increased to $33,827 thousand in Q1 2025 from $3,225 thousand in Q1 2024, showing a substantial improvement[54] - Adjusted EBITDA for the three months ended March 31, 2025, was $124,869 thousand, up from $111,474 thousand in the same period of 2024, reflecting a growth of approximately 11.98%[57] - The company reported a non-GAAP operating margin of 30.1% for Q1 2025, compared to 28.1% in Q1 2024, indicating an improvement in operational efficiency[54] Financial Position - Total assets decreased from $5,279,532 thousand as of December 31, 2024, to $5,092,100 thousand as of March 31, 2025, representing a decline of approximately 3.55%[49] - Total current liabilities decreased from $1,090,717 thousand as of December 31, 2024, to $934,625 thousand as of March 31, 2025, a reduction of approximately 14.33%[49] - Total net debt as of March 31, 2025, was $567,000,000, a decrease from $591,000,000 as of December 31, 2024[62] Research and Development - The company continues to invest in research and development, with expenses of $81,973,000 in Q1 2025, compared to $79,654,000 in Q1 2024[47] - Introduced new cloud data management innovations, including CLAIRE Copilot for Data Integration and iPaaS[9] - Expanded partnership with Databricks and Google to enhance IDMC platform services[9] Cash Flow and Interest - Cash and cash equivalents at the end of Q1 2025 were $956,265 thousand, an increase from $912,460 thousand at the beginning of the period, marking a rise of 4.81%[51] - Adjusted Free Cash Flow (after-tax) for Q1 2025 was $145,198 thousand, slightly down from $155,973 thousand in Q1 2024, reflecting a decrease of about 6.9%[58] - The company paid $30,002 thousand in interest during Q1 2025, compared to $37,782 thousand in Q1 2024, showing a decrease of approximately 20.4%[51] Future Expectations - GAAP Total Revenues for Q2 2025 expected to be in the range of $391 million to $411 million, approximately 0.1% year-over-year growth[15] - Full-Year 2025 GAAP Total Revenues expected to be in the range of $1.670 billion to $1.720 billion, representing approximately 3.4% year-over-year growth[20] - The company expects a decrease in Self-Managed Subscription ARR as it shifts focus from perpetual to cloud offerings[33]