Splunk Inc. (SPLK) Q1 2024 Earnings Call Transcript

For the period ending April 30, 2023

May 24, 2023 4:30 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good afternoon. My name is Abby, and I will be your conference operator today. At this time, I would like to welcome everyone to the Splunk First Quarter 2024 Financial Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks,, there will be a question-and-answer session. [Operator Instructions] Thank you.

Katie White, Director of Investor Relations, you may begin your conference.

Katie White

Thank you, Abby.

Good afternoon, and thank you for joining today's call. With me on the call are Gary Steele, President and CEO; and Brian Roberts, CFO. After market close today, we issued our earnings press release, which is also posted on our Investor Relations website along with supplemental materials. This conference call is being webcast live, and following the call, an audio replay will be available on our website.

On today's call, we will be making forward-looking statements including financial guidance and expectations, including our long-term growth and profitability, forecast for our second quarter and full year fiscal 2024, and our future expectations of revenue, total ARR, cloud mix, non-GAAP OpEx, non-GAAP operating margin, free cash flow, free cash flow margin, cloud gross margin and equity compensation usage, as well as trends in our markets and our business, our strategies and expectations regarding our business, AI, acquisitions, products, technology, customers and demand. These statements are subject to risks and uncertainties and are based on our assumptions as to the macroeconomic environment and reflect our best judgment based on factors currently known to us. Actual events or results may differ materially.

Please refer to documents we file with the SEC, including our Form 10-K and 10-Qs, as well as the Form 8-K filed with today's press release. These documents contain risks and other factors that may cause our actual results to differ from those contained in our forward-looking statements. These forward-looking statements are being made as of today, and we disclaim any obligation to update or revise these statements. If this call is reviewed after today, the information presented during this call may not contain current or accurate information.

We will also discuss non-GAAP financial measures, which are not prepared in accordance with generally accepted accounting principles. A reconciliation of GAAP and non-GAAP results is provided in the press release and on our website.