Edit Symbol List
Enter up to 25 symbols separated by commas or spaces in the text box below. These symbols will be available during your session for use on applicable pages.
Don't know the stock symbol? Use the
Symbol Lookup tool.
Alphabetize the sort order of my symbols
Investing just got easier…
Sign up now to become a NASDAQ.com member and begin receiving instant notifications when key events occur that affect the stocks you follow.Access Now X
Q3 2013 Earnings Call
November 29, 2012 5:00 pm ET
Ken Tinsley - Former Treasurer and Director of Investor Relations
Godfrey R. Sullivan - Chairman, Chief Executive Officer and President
David F. Conte - Chief Financial Officer, Principal Accounting Officer and Senior Vice President
Adam H. Holt - Morgan Stanley, Research Division
Kash G. Rangan - BofA Merrill Lynch, Research Division
Philip Winslow - Crédit Suisse AG, Research Division
Brent Thill - UBS Investment Bank, Research Division
John S. DiFucci - JP Morgan Chase & Co, Research Division
Raimo Lenschow - Barclays Capital, Research Division
Edward Maguire - Credit Agricole Securities (USA) Inc., Research Division
Brendan Barnicle - Pacific Crest Securities, Inc., Research Division
Peter L. Goldmacher - Cowen and Company, LLC, Research Division
Shebly Seyrafi - FBN Securities, Inc., Research Division
» Ambarella's CEO Discusses Fiscal Q3 2013 Results - Earnings Call Transcript
» Zebra Technologies' Management Presents at NASDAQ OMX 29th Investor Program Conference (Transcript)
Thank you, Sayeed, and good afternoon, everyone. With me on the call today are Splunk's CEO, Godfrey Sullivan; and CFO, Dave Conte. As a reminder, today's conference call is being broadcast live via webcast. In addition, a replay of the call will be available on our website following the conclusion of the call. By now you should have received a copy of our press release, which was distributed this afternoon. If you have not, it is available on the Investor Relations section of our website.
Before we begin, I'd like to remind you that during today's call, we will make forward-looking statements, including our guidance for our fiscal fourth quarter and our 2013 full fiscal year, expanded use of our software by existing customers, our investment and our sales capacity and field operations and our product enhancements. We caution you that such statements reflect our best judgment based on factors currently known to us and that actual events or results could differ materially. Please refer to the documents we file from time to time with the SEC, including the Form 8-K filed with today's press release. Those documents contain important risks and other factors that may cause our actual results to differ from those contained in our forward-looking statements. Forward-looking statements made during the call today are being made as of today. If this call is replayed or reviewed after today, the information presented during the call may not contain current or accurate information. Splunk disclaims any obligation to update or revise any forward-looking statements. to reflect events that occur or circumstances that exist after today. We will provide guidance on today's call but will not provide any further guidance or updates on our performance during the quarter unless we do so in a public forum. During the call, we will also discuss non-GAAP financial measures. These non-GAAP financial measures are not prepared in accordance with Generally Accepted Accounting Principles. A reconciliation of the GAAP and non-GAAP results is provided in today's press release and on the Investor Relations section of our website. The projections regarding our non-GAAP operating margin that we provide today excludes stock-based compensation expense, which cannot be determined at this time, and therefore not reconciled in today's press release.
With that, let me turn it over to Godfrey.
Godfrey R. Sullivan
Thank you, Ken. Hello, everyone. Thank you for joining our Q3 earnings call. I have to tell you that my exec team accuses me of being an obsessive perfectionist, that I can usually find imperfection even in good results. But at this time, I just have to admit it. The Splunk team delivered really impressive results across the board, every product, every geography, every function. I'm very proud of our team.
Before addressing the business results, I'd like to welcome our newest board member, Steve Newberry. Steve has an impressive track record as the Chairman and formerly a CEO of Lam Research. I know that Steve is well known to many of you, and I look forward to working with him on our board. I also want to take this opportunity to thank Erik Swan for 9 years of leadership on our board, and I look forward to his continued energy and vision as our CTO.
Now onto the quarter. Revenue was $52 million, up 67% compared to Q3 of last year. License revenue, $34.6 million, up 56% compared to the same quarter last year. We added more than 350 new customers including China Mobile, Daimler AG, Kohl's Department Stores, the U.S. Department of Education, South Australia Police, and my personal favorite, Churchill Downs.
As we've done in our past calls, I'd like to report on 3 core initiatives: Splunk as an enterprise data engine; Splunk as a platform for apps and developers; and investing for growth, which Dave Conte will cover.
Let's start with Splunk as an enterprise data engine. We recently launched the latest version of our flagship product, Splunk Enterprise 5.0. Customers are pleased with the quality, as well as the new functionality in 5.0, and they're upgrading quickly. In the first week, there were more than 11,000 downloads, and more than 650 of our 4,800 customers upgraded to 5.0 in the first week. New innovations in Version 5 include report acceleration that delivers reports up to 1,000x faster. Splunk 5 also offers enterprise, class, scale and resilience with our new index replication technology, and we'll soon release the SDKs for developing additional enterprise applications.
Splunk Enterprise 5.0 is driving new customer adoption, as well as existing customers who are expanding to enterprise deployments. Getty Images is a new customer in Q3. Getty is well known, as a pioneer in digital media, as one of the first companies to license images online. Splunk will now help Getty track the performance of their customer-facing applications, to improve their customer experience and enable real-time product analytics.