Informatica, (the “Company”), an enterprise cloud data management leader, provided the following business and financial updates.
The Company announced today it is updating its first quarter 2024, ended March 31, 2024, financial outlook. The Company expects GAAP Total Revenues, Subscription ARR, Cloud Subscription ARR and Non-GAAP Operating Income to be all within the upper half of the guidance ranges previously provided by the Company in its February 14, 2024, earnings press release. In addition, the Company expects to report Adjusted Unlevered Free Cash Flow (after-tax) that significantly exceeds 100% of Non-GAAP Operating Income. The Company also reaffirmed its full-year 2024 financial outlook. First quarter 2024 financial results will be released on May 1, 2024, after market close, as previously announced.
“Our business fundamentals continue to be very strong and we look forward to discussing our first quarter financial results and outlook on May 1,” said Amit Walia, CEO of Informatica.
In addition, on April 12, 2024, The Wall Street Journal published a story that the Company was in advanced talks to be acquired, according to sources familiar with the matter. Although Informatica’s policy is not to comment on market rumors or media speculation, the Company announced that it is not currently engaged in any discussions to be acquired.
The Company also announced that Jitesh Ghai, Executive Vice President and Chief Product Officer, is resigning to pursue an executive opportunity at another company. “On behalf of the Informatica team, I thank Jitesh for his many contributions,” continued Mr. Walia. “We wish Jitesh all the best in this exciting next step of his career.”
