Confluent, Inc. (NASDAQ:CFLT) Q2 2022 Earnings Conference Call August 3, 2022 4:30 PM ET

Company Participants

Shane Xie - IR

Edward Kreps - Co-Founder, Chairman & CEO

Steffan Tomlinson - CFO

Conference Call Participants

Jason Ader - William Blair & Company

Karl Keirstead - UBS

Sanjit Singh - Morgan Stanley

Bradley Sills - Bank of America Merrill Lynch

Rudy Kessinger - D.A. Davidson & Co.

Michael Turrin - Wells Fargo Securities

Raimo Lenschow - Barclays Bank

Pinjalim Bora - JPMorgan Chase & Co.

James Wood - Cowen and Company

Kasthuri Rangan - Goldman Sachs Group

Shane Xie

Hi, everyone. Welcome to the Confluent Q2 2022 Earnings Conference Call. I'm Shane Xie from Investor Relations. And I'm joined by Jay Kreps, Co-Founder and CEO; and Steffan Tomlinson, CFO.

During today's call, management will make forward-looking statements regarding our business, operations, financial performance and future prospects, including statements regarding our financial outlook for the fiscal third quarter of 2022 and fiscal year 2022. These forward statements are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated by these statements.

Further information on risk factors that could cause actual results to differ is included in our most recent Form 10-Q filed with the SEC. We assume no obligation to update these statements after today's call, except as required by law.

As a reminder, certain financial measures used on today's call are expressed on a non-GAAP basis. We use these non-GAAP manage measures internally to facility analysis of our financial and business trends and for internal planning and forecasting purposes. These non-GAAP financial measures have limitations and should not be considered in isolation from or as a substitute for financial information prepared in accordance with GAAP. A reconciliation between these GAAP and non-GAAP financial measures is included in our earnings press release and supplemental financials, which can be found on our Investor Relations website at investors.confluent.io.

With that, I'll hand the call over to Jay.

Edward Kreps

Thanks, Shane. Welcome, everyone, to our second quarter earnings call. Confluent delivered another strong quarter, exceeding the high end of our guidance on all metrics. Total revenue grew 58% year-over-year to $139 million. Confluent Cloud revenue grew 139% year-over-year and represented 34% of total revenue in the quarter.

Confluent Cloud continues to increase as an overall mix of our business and is seeing rapid adoption across our customer base as reflected by strong consumption trends. We're especially proud of our performance given the uncertain macro environment we're currently operating in.