Splunk, Inc. (NASDAQ:SPLK) Q3 2018 Earnings Conference Call - Preliminary Transcript

Nov 16, 2017 • 04:30 pm ET

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Splunk, Inc. (NASDAQ:SPLK) Q3 2018 Earnings Conference Call - Preliminary Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen, and welcome to the Splunk Inc Third Quarter 2018 Financial Results Conference Call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session, and instructions will follow at that time. As a reminder, this conference is being recorded. I would like to introduce your host for today's conference, Ken Tinsley, Corporate Treasurer and Vice President of Investor Relations. You may begin.

Executive
Ken Tinsley

Great. Thank you, Glenda. Appreciate that. Good afternoon. With me on the call today are Splunk CEO, Doug Merritt, and CFO, Dave Conte. Our press release was issued after the close of market today and is posted on our website. This conference call is being broadcast live via webcast following the call. An audio replay will be available on our website. On today's call, we will be making forward-looking statements, including financial guidance and expectations for our fourth quarter and our fiscal years 2018 and 2019, our long-term targets for fiscal 2020, the expected effects of new revenue recognition standards, our market opportunity, our strategies and our competitive position, and our planned investments including product, services, market groups and sales.

These statements reflect our best judgment based on factors currently known to us, and actual events or results may differ materially. Please refer to documents we file with the SEC, including the Form 8-K filed with today's press release. Those documents contain risks and uncertainties, and other factors which may cause our actual results to differ from those contained in our forward-looking statements. These forward-looking statements are being made as of today, and we disclaim any obligation to update or revise these statements. If this call is reviewed after today, the information presented during this call may not contain current or accurate information. We will also discuss non-GAAP financial measures which are not prepared in accordance with generally accepted accounting principles. A reconciliation of GAAP and non-GAAP results is provided in the press release and on our website. With that, here's Doug.

Executive
Douglas Merritt

Thank you, Ken. Hello, everyone, and welcome to the call. I'm happy to report a strong Q3, delivering revenue of $329 million, up 34% over last year. Our growth continues to come from a combination of new customers and our existing customers expanding their deployments on-prem and in the cloud. We saw strength across all of our regions, as strong demand for Splunk solutions continue to grow. With the US federal year-end in September, I'm happy to call out the public sector team, and report that they had a great finish to their year with multiple large orders. I also want to congratulate the leadership covering the EMEA theaters for delivering another fantastic quarter. As I've said many times, our market opportunity is massive, and we're still early on the Splunk adoption journey even within our largest accounts. Q3 also allows me to thank the 7,000 customers, partners, and Splunk fans who joined us at.conf, our 8th annual user conference.

Hundreds of innovative use cases were