Inc. (NASDAQ: SPLK), the leading software platform for real-time
operational intelligence, today announced results for its fiscal third
quarter ended October 31, 2012.
"We are pleased to welcome more than 350 new Enterprise customers to the
Splunk family and also want to recognize the many customers who expanded
their use of Splunk software during the quarter," said Godfrey Sullivan,
Chairman and CEO. "Our license revenues were the result of broad
adoption by our customers in financial services, technology,
telecommunications and government sectors."
Third Quarter 2013 Financial Highlights
A reconciliation of GAAP to non-GAAP results is provided in the
Third Quarter 2013 and Recent Business
New license customers include: Bureau of Alcohol, Tobacco,
Firearms and Explosives, China Mobile, Churchill Downs, Daimler AG,
Eldorado (Russia), Getty Images, Hyundai Kia (Korea), Kohl's Department
Stores, Newell Rubbermaid, PCCW Now (Hong Kong), South Australia Police,
TCS Bank (Russia), U.S. Department of Agriculture, U.S. Department of
Education and Vodafone Australia.
Expansion customers include: Adobe, Ceryx Inc., Cisco, Comcast,
Commercial Bank of Qatar, Defense Information Systems Agency (DISA),
Interactive Data, Major League Baseball, Moody's, Purdue University,
UniCredit Business Integrated Solutions (UBIS - Italy), University of
Connecticut, U.S. Department of Energy and Vattenfall Europe Information
Developers and Content:
The company is providing the following guidance for its fiscal 2013
fourth quarter (ending January 31, 2013):
The company is updating its previous guidance for its 2013 full fiscal
year (ending January 31, 2013):
All forward-looking non-GAAP financial measures contained in this
section "Financial Outlook" exclude estimates for stock-based
compensation expenses. A reconciliation of non-GAAP guidance measures to
corresponding GAAP measures is not available on a forward-looking basis.
Conference Call and Webcast
Splunk's executive management team will host a conference call today
beginning at 2:00 p.m. PT (5:00 p.m. ET) to discuss the company's
financial results and business highlights. Interested parties may access
the call by dialing (866) 501-1535. International parties may access the
call by dialing (216) 672-5582. A live audio webcast of the conference
call will be available through Splunk's Investor Relations website at http://investors.splunk.com/events.cfm.
A replay of the call will be available through December 6, 2012 by
dialing (855) 859-2056 and referencing Conference ID# 59977778.
Safe Harbor Statement
This press release contains forward-looking statements that involve
risks and uncertainties, including statements regarding Splunk's revenue
and non-GAAP operating margin targets for the company's fiscal fourth
quarter and fiscal year 2013 in the paragraphs under "Financial Outlook"
above, and other statements regarding momentum in the company's
business, growth in the number of new customers, existing customer usage
and expansion of Splunk software, Splunk Storm and Splunk Enterprise 5.
There are a significant number of factors that could cause actual
results to differ materially from statements made in this press release,
including: Splunk's limited operating history, particularly as a new
public company; risks associated with Splunk's rapid growth,
particularly outside of the U.S.; and general market, political,
economic and business conditions.
Additional information on potential factors that could affect Splunk's
financial results is included in the company's Quarterly Report on Form
10-Q for the quarter ended July 31, 2012 which is on file with the U.S.
Securities and Exchange Commission. Splunk does not assume any
obligation to update the forward-looking statements provided to reflect
events that occur or circumstances that exist after the date on which
they were made.
About Splunk Inc.
Splunk Inc. (NASDAQ: SPLK) provides the engine for machine data™.
Splunk® software collects, indexes and harnesses the machine-generated big
data coming from the websites, applications, servers, networks and
mobile devices that power business. Splunk software enables
organizations to monitor, search, analyze, visualize and act on massive
streams of real-time and historical machine data. More than 4,800
enterprises, universities, government agencies and service providers in
over 80 countries use Splunk Enterprise to gain Operational
Intelligence that deepens business and customer understanding,
improves service and uptime, reduces cost and mitigates cyber-security
Storm, a cloud-based subscription service, is used by organizations
developing applications in the cloud.
To learn more, please visit www.splunk.com/company.
Splunk, Splunk Storm and the engine for machine data are registered
trademarks or trademarks of Splunk Inc., and/or its subsidiaries and/or
affiliates in the United States and/or other jurisdictions. All other
brand names, product names or trademarks belong to their respective
holders. © 2012 Splunk Inc. All rights reserved.
Weighted-average shares used in computing basic and diluted net
loss per share
Depreciation and amortization
SPLUNK INC.Non-GAAP financial measures and
To supplement Splunk's consolidated financial statements, which are
prepared and presented in accordance with generally accepted accounting
principles in the United States ("GAAP"), Splunk provides investors with
certain non-GAAP financial measures, including non-GAAP operating loss,
non-GAAP net loss, non-GAAP operating margin, and non-GAAP loss per
share (collectively the "non-GAAP financial measures"). These non-GAAP
financial measures exclude stock-based compensation expense and the
change in fair value of certain preferred stock warrants previously
issued by Splunk. In addition, non-GAAP financial measures include free
cash flow, which represents cash from operations less purchases of
property and equipment. The presentation of the non-GAAP financial
measures is not intended to be considered in isolation or as a
substitute for, or superior to, the financial information prepared and
presented in accordance with GAAP. Splunk uses these non-GAAP financial
measures for financial and operational decision-making purposes and as a
means to evaluate period-to-period comparisons. Splunk believes that
these non-GAAP financial measures provide useful information about
Splunk's operating results, enhance the overall understanding of past
financial performance and future prospects, and allow for greater
transparency with respect to key metrics used by management in its
financial and operational decision making. In addition, these non-GAAP
financial measures facilitate comparisons to competitors' operating
Splunk excludes stock-based compensation expense from its non-GAAP
operating loss, non-GAAP net loss, non-GAAP operating margin and
non-GAAP loss per share because such expense is non-cash in nature.
Splunk excludes expense attributable to the change in fair value of
certain preferred stock warrants from its non-GAAP financial measures
because it is a non-recurring, non-cash expense. Splunk considers free
cash flow to be a liquidity measure that provides useful information to
management and investors about the amount of cash generated by the
business that can be used for strategic opportunities, including
investing in Splunk's business, making strategic acquisitions, and
strengthening Splunk's balance sheet.
There are limitations in using non-GAAP financial measures because the
non-GAAP financial measures are not prepared in accordance with GAAP,
may be different from non-GAAP financial measures used by Splunk's
competitors, and exclude expenses that may have a material impact upon
Splunk's reported financial results. Further, stock-based compensation
expense has been and will continue to be for the foreseeable future a
significant recurring expense in Splunk's business and an important part
of the compensation provided to Splunk's employees. The non-GAAP
financial measures are meant to supplement, and be viewed in conjunction
with, GAAP financial measures.
The following table reconciles Splunk's non-GAAP results to Splunk's
GAAP results included in this press release.
Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of cash provided by
operating activities to free cash flow:
Operating loss reconciliation:
Operating margin reconciliation:
Net loss reconciliation:
Net loss per share reconciliation:
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