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Splunk (NASDAQ:SPLK) shares plunged more than 7% after-hours as the company missed its guidance expectations, despite reporting better-than-expected Q4 results.
Q4 EPS came in at $2.04, above the consensus estimate of $1.14. Revenue grew 39% year-over-year to $1.25 billion, beating the consensus estimate of $1.08B.
The company reported 790 customers with a total ARR greater than $1 million, which represents an increase of 115% year-over-year. Cloud ARR was $1.78B, up 33% year-over-year.
“Total ARR grew by 18% to $3.674 billion and annual free cash flow nearly quadrupled as the team continued its focus on driving results and improving operating efficiency,” said Brian Roberts, CFO of Splunk.
For Q1/24, the company expects revenue in the range of $710-$725M, missing the consensus estimate of $807M. Total ARR is expected to be approximately $3.7B.
For the full year, the company expects revenue in the range of $3.85-$3.9B, compared to the consensus of $4.02B. Total ARR is expected to be in the range of $4.125-$4.175B.
