Splunk revenue driver#

Cloud-first has become our mindset from both the business model and product strategy perspective,” Merritt said.

Splunk revenue driver#

“And now we’re focusing squarely on cloud as a driver of our next phase of growth. “The flexibility and predictability of our new Data-to-Everything pricing options have made it easier to do business with us and for customers to bring data to every question, decision and action. “I’m happy to report that this is ahead of what we forecast last quarter when we introduced our transformation metrics of ARR and operating cash flow,” the CEO said. That number included $442 million in cloud sales and $1.24 billion from term licenses and maintenance contracts: The company has discontinued new perpetual license offerings. The company ended the year with annual recurring revenue of $1.68 billion, up 54 percent from fiscal 2019, Merritt said. “It was a milestone quarter with our cloud bookings more than doubling Q4 to Q4, and it was a strong finish to fiscal year 2020.” “Our shift to a renewable model is 99 percent complete as customers are now predominantly opting for term and cloud contracts,” CEO Doug Merritt said in a conference call with investors in discussing the fourth-quarter and full-year financial results of Splunk’s fiscal 2020 (ended Jan.

Machine data management software developer Splunk wrapped up its fiscal 2020 by making huge strides in its goal of boosting annual recurring revenue and migrating its customers to a subscription model.