Confluent, Inc. (CFLT) is the data streaming portfolio is involved in the category of data infrastructure that sets data in motion. The company’s cloud-native offering is the preliminary stage for data in motion, which enables real-time data to stream across the organizations.
The price of CFLT stock during the regular trading on February 10, 2022, was $73.1 with a dip of 2.35%. At last check in the aftermarket, the stock further dropped by 11.1%.
CFLT: Key Financials
On February 10, 2022, CFLT released its financial results for the fourth quarter of 2021, which ended December 31, 2021. Some of the major updates are as follows.
Revenue
Total revenue observed in the fourth quarter of 2021 was $119.9 million compared to $70.3 million in the fourth quarter of 2020. The company reported an increase of 71% in revenue over the year. The analysts’ guidance for the fourth quarter revenue was $119.8 million and the company beat the analysts’ estimates.
EPS
Basic and diluted net loss per share in Q4 2021 was $114.4 million or $0.43 against $31.7 million or $0.30 in the same quarter of 2020. The analysts’ guidance for the EPS of the company in Q4 2021 was -$0.21 and the company missed the estimated EPS.
CFLT: CEO Comments
Speaking at the occasion, CEO of CFLT Jay Kreps stated that the company’s fast-track growth throughout 2021, showed that it had emerged as the leader of this large and growing market. He further added that the company accomplished 200% gain in full-year 2021 its Cloud revenue at a big scale.
CFLT: Events and Happenings
On January 27, 2022, CFLT was leveraged by DISH Network Corporation for its Apache Kafka’s cloud-native data streaming. It will facilitate DISH for its new smart 5G network via real-time analytics applications. On January 27, 2022, CFLT updated about its strategic partnership with Amazon Web Services, Inc. Both the companies made a five-year agreement and agreed upon joint initiatives to support the businesses speed up their cloud adoption journey with real-time data.
On January 19, 2022, CFLT informed about launching the Confluent Q1 ’22. It includes data streaming connectors and a new feature to maintain trusted data quality along with multiple environments. On December 13, 2021, CFLT and Alibaba Cloud co-announced the availability of their data streaming service on the Alibaba cloud.
Conclusion
CFLT stock outperformed in the past year as the company as it gained 62% during the period as a result of strong company policies. The current aftermarket dip in the company’s stock came after the company announced its Q4 2021 financials. Although the company beat the estimated revenue target, it missed the EPS estimates, which resulted in a declining trend of a stock.
