The earnings call reported strong growth in subscription and cloud revenues, significant operating margin improvement, and promising growth in Flink ARR and AI use cases. However, challenges were noted in consumption growth, particularly from larger customers, and a reduction in cloud usage by an AI-native customer, impacting future growth forecasts.

Company Guidance

During the Confluent Second Quarter 2025 Earnings Conference Call, the company provided financial guidance for the fiscal third quarter and full year 2025. Confluent projected subscription revenue for Q3 to be between $281 million and $282 million, indicating a growth of approximately 17%. The non-GAAP operating margin for Q3 was expected to be around 7%, with non-GAAP net income per diluted share forecasted to be between $0.09 and $0.10. For the full fiscal year 2025, Confluent raised its subscription revenue guidance to a range of $1.105 billion to $1.11 billion, representing roughly 20% growth. They also anticipated a non-GAAP operating margin of approximately 6% and non-GAAP net income per diluted share to be around $0.36, with an adjusted free cash flow margin of about 6%. The company highlighted several growth drivers, including a 21% increase in subscription revenue, a 28% rise in Confluent Cloud revenue, and a non-GAAP operating margin improvement of 6 percentage points. Additionally, they noted significant traction in DSP monetization, with Flink ARR growing threefold over the past two quarters, and a 31% increase in RPO growth, reflecting stronger customer commitments.

Strong Subscription and Cloud Revenue Growth

Confluent achieved a 21% growth in subscription revenue and a 28% growth in Confluent Cloud revenue for Q2 2025.

Notable Increase in Operating Margin

The non-GAAP operating margin increased by approximately 6 percentage points, reaching 6%.

Flink ARR Growth

Flink ARR grew approximately 3x over the past 2 quarters, approaching $10 million.

Partner Ecosystem Expansion

Expanded partnerships with major companies like Infosys, contributing to over 20% of business being partner-sourced.

New AI Use Cases

AI production workloads are expected to grow 10x across a few hundred customers, showcasing Confluent's relevance in the AI space.

Confluent (CFLT) Earnings, Revenues Date & History

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CFLT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 29, 2025	2025 (Q3)	0.10 / -	0.1	―	―	―
Jul 30, 2025	2025 (Q2)	0.08 / 0.09	0.06	50.00% (+0.03)
Apr 30, 2025	2025 (Q1)	0.07 / 0.08	0.05	60.00% (+0.03)
Feb 11, 2025	2024 (Q4)	0.06 / 0.09	0.09	0.00% (0.00)
Oct 30, 2024	2024 (Q3)	0.05 / 0.10	0.02	400.00% (+0.08)
Jul 31, 2024	2024 (Q2)	0.05 / 0.06	0	―
May 07, 2024	2024 (Q1)	0.02 / 0.05	-0.09	155.56% (+0.14)
Feb 07, 2024	2023 (Q4)	0.05 / 0.09	-0.09	200.00% (+0.18)
Nov 01, 2023	2023 (Q3)	>-0.01 / 0.02	-0.13	115.38% (+0.15)
Aug 02, 2023	2023 (Q2)	-0.06 / 0.00	-0.16	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CFLT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 30, 2025	$26.40	$17.72	-32.88%
Apr 30, 2025	$23.81	$19.44	-18.35%
Feb 11, 2025	$30.10	$37.65	+25.08%
Oct 30, 2024	$23.07	$26.17	+13.44%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.