Confluent Inc (CFLT) Achieves Strong Revenue Growth and Soaring Stock Performance
Confluent Inc reported strong financial results for Q4 2023 and FY 2023, with total revenue reaching $213 million in Q4, a 26% increase year over year, and $777 million for the fiscal year, up 33%. The company achieved its first positive non-GAAP operating margin in Q4 and improved free cash flow to $6.8 million. Confluent's cloud revenue saw a significant 46% surge in Q4, reaching $100 million, and subscription revenue grew by 31% year over year. The company's focus on cloud services and subscription revenue aligns with current industry trends, positioning it well for future growth.