Splunk Revenue Rises; IPO Costs Add to Net Loss

US analytics software company Splunk has reported a 50% increase in fiscal second quarter 2014 revenue to $66.9m from $44.5m in the prior year period. Q2 net loss increased to $13.7m from $4.6m a year previously, due in part to one-time IPO-related charges.

San Francisco-based Splunk offers software to collect, index and harness big data from web sites, apps, servers, networks, sensors and mobile devices. The company has recently rolled out the beta version of Hunk: Splunk Analytics for Hadoop.

For the quarter ended July 31st 2013, gross profit was $59.5m compared with $39.8m 12 months before. Operating expenses increased to $72.8m from $44.3m, and GAAP operating loss was $13.3m, or 19.9% of revenues.

For fiscal H1, revenue increased to $124.0m from $81.7m last year, and net loss rose from $25.0m to $29.8m this. During the period, gross profit increased to $109.9m from $72.8m, operating expenses rose to $138.9m from $84.4m, and GAAP operating loss was $29.0m compared with $10.7m the previous year.

For the fiscal year 2014 (ending January 31st, 2014), total revenues are expected to be between $275m and $281m - up from a previous forecast of between $266m and $274m.

Godfrey Sullivan (pictured), the firm's Chairman and CEO, commented: 'This past quarter marked a milestone for Splunk as we expanded the breadth of our product offerings. We are pleased to welcome more than 400 new customers who are joining the Splunk family at an exciting time as we transition to a multi-product company.'

Last year, Splunk raised $229.5m in its IPO.The company is online at: www.splunk.com .