Splunk, Inc. (NASDAQ:SPLK) Q1 2019 Earnings Conference Call Transcript

May 23, 2019 • 04:30 pm ET

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Splunk, Inc. (NASDAQ:SPLK) Q1 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen, and welcome to the Splunk Inc First Quarter 2020 Financial Results Call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session; and instructions how to participate will follow at that time. (Operator Instructions) As a reminder, this conference call is being recorded.

I would now like to introduce your host for today's conference, Mr. Ken Tinsley, Corporate Treasurer and Vice President of Investor Relations. Sir, you may begin.

Executive
Ken Tinsley

Great. Thank you, Jimmy, and good afternoon, everyone. With me on the call today are Doug Merritt; Jason Child; and Dave Conte. We issued a press release after close of market today and it's posted on our website. This conference call is being broadcast live via webcast. And following the call, an audio replay will be available on the website.

On today's call, we will be making forward-looking statements including financial guidance and expectations, including our forecast for our second quarter and full year of fiscal 2020, trends and expectations regarding revenue mix and operating cash flow, and our expectations regarding our products, technology strategy, customers, markets and industry. 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 other factors that 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 the website.

With that let me turn it over to Doug.

Executive
Doug Merritt

Thank you, Ken. Hello, everyone, and welcome to the call. Q1 was a strong start to the year both for product innovation and field execution. We delivered $265 million in software revenue, up 54% over last year. We also announced a series of product developments that expanded capabilities of our portfolio and the possibilities for our customers. Our growth continues to come from a combination of new and existing customers, expanding their deployments both on-prem and in the cloud, letting them consume Splunk in the way that best enable their success.

For the past few years, you heard me continuously site our focus on becoming the trusted data partner for our customers. We've been describing these capabilities as comprising four key pillars investigate, monitor, analyze and act. We've arrived at this understanding by listening very closely to our customers. The use cases we are delivering with Splunk are crafted by leveraging the integrated functionality across these four pillars. Let me take a step back for a