Rapid Revenue Growth for Splunk

US web analytics software company Splunk has announced results for its fiscal first quarter ended April 30th with total revenue up 54% year-on-year to $57.2m. However non-GAAP operating loss was $5.3m with heavy investment in sales, marketing, R&D.

Splunk had a GAAP operating loss of $15.7m, or $0.16 per share, despite the much higher revenue - license revenue was $36.2m, up 48% on the prior year period - and growing its customer base to around 5,600 firms worldwide. Major costs included $14.46m on R&D in the quarter and $41.3m on sales and marketing.

The quarter has also seen the launch of a number of new apps, improving the level of detail, accessibility and security of data accessed; and the appointments of former Cardinal Health CIO Patricia B. Morrison as a Board member, Declan Morris as Vice President of IT and Cloud Operations and Dejan Deklich as VP of Cloud Engineering.

Chairman and CEO Godfrey Sullivan (pictured) commented: 'We are off to a strong start in the first quarter and I'm pleased with our new customer acquisition and financial performance. Years of investment and product innovation have resulted in recognition that Splunk is disrupting the enterprise software space.' He added: 'We will continue to invest heavily in our data platform, content and SaaS offerings to deliver customer success.'

Splunk was founded in 2004 and is based in San Francisco. A year ago, it raised $229.5m in an IPO, giving it a market value of $1.57 billion. For the fiscal year ending January 31st 2014 it now forecasts total revenue between $266m and $274m and non-GAAP operating margin around zero.

Web site: www.splunk.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.