Informatica reports Q2 EPS 17c, consensus 12c

Reports Q2 revenue $376.0M, consensus $360.6M. In Q2 the company : Reported 213 customers that spend more than $1 million in subscription ARR at the end of June 30, 2023, an increase of 22% year-over-year. Reported 1,940 customers that spend more than $100,000 in subscription ARR at the end of June 30, 2023, an increase of 8% year-over-year. Achieved a Cloud Subscription net retention rate (NRR) of 116% at the end of June 30, 2023. “Q2 was another strong quarter for Informatica as we exceeded the high end of our guidance range for all our key performance metrics. Our intelligent data management cloud platform, IDMC, powered by our AI engine CLAIRE, uniquely positions us in the ‘AI and data-first world’ as we continue to deliver durable growth and profitability,” said Amit Walia, CEO. “We are also excited to have closed on the acquisition of Privitar in July. We believe IDMC is becoming the most comprehensive and differentiated AI-powered platform at scale as we continue on our journey to be the enterprise standard for data management.”