Splunk, Inc. (NASDAQ:SPLK) Q2 2019 Earnings Conference Call - Final Transcript

Aug 23, 2018 • 04:30 pm ET

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Splunk, Inc. (NASDAQ:SPLK) Q2 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen and welcome to the Splunk Inc. Second Quarter 2019 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 be given at that time. (Operator Instructions) As a reminder, today's conference is being recorded.

I would now like to turn the call over to Ken Tinsley, Corporate Treasurer and VP of IR. You may begin.

Executive
Ken Tinsley

Fabulous. Thank you, Mark and good afternoon, everyone. With me on the call today as usual, are Doug Merritt and Dave Conte. We issued a press release after the close of market today and it is posted on our website. Additionally, this conference call is being broadcast live via webcast. And following the call, an audio replay will be available also on our website.

(Forward-Looking Cautionary Statements)

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, let me turn it over to Doug.

Executive
Doug Merritt

Thank you, Ken. Hello, everyone and welcome to the call. Strong execution in the field drove great results in Q2, delivering $388 million in total revenue, up 39% over last year. Our success comes from new and existing customers expanding their adoption of Splunk, as their platform for data analytics and machine learning, of course both on-prem and in the cloud. I'm on the road visiting with customers on a regular basis and the questions they ask revolve around leveraging their data to improve their customer engagement, secure their enterprises, deliver IT and app dev resiliency and drive business results. All of their questions highlight the fact that if you don't know your data, you don't know your business.

The real power of Splunk, what we do that no other technology does is enable organizations to get answers from their data without having to know all the questions to ask beforehand. The answers come together as real insights to help them know their business. Data problems or requirements are constantly evolving, so our customers need a solution that can adapt with them. The ability to investigate, monitor and analyze all of their data across all of their technology in a continuous way that is constantly improving makes that possible.

Our growth strategy of build, buy, partner aligns this concept and we're investing to enable customers to effectively and quickly make decisions and to take actions in real-time. In June, we announced our acquisition of VictorOps, a leader in DevOps incident management. By applying artificial intelligence and machine learning to monitoring, event management and incident management data, Splunk and VictorOps will enable development and DevOps teams to more rapidly resolve incidents and learn from past actions to make proactive recommendations. We are thrilled to welcome the VictorOps team and to add another official Splunk site in Boulder, Colorado.

Technologies such as VictorOps and Phantom play a big