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Q4 2013 Earnings Call
February 28, 2013 4:30 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
Philip Winslow - Crédit Suisse AG, Research Division
Kash G. Rangan - BofA Merrill Lynch, Research Division
Peter L. Goldmacher - Cowen and Company, LLC, Research Division
John S. DiFucci - JP Morgan Chase & Co, Research Division
Brent Thill - UBS Investment Bank, Research Division
Brendan Barnicle - Pacific Crest Securities, Inc., Research Division
Adam H. Holt - Morgan Stanley, Research Division
Brian John White - Topeka Capital Markets Inc., Research Division
Raimo Lenschow - Barclays Capital, Research Division
Previous Statements by SPLK
» Splunk, Inc. Presents at Barclays Second Annual Big Data Conference, Feb-11-2013 12:00 PM
» Splunk's CEO Discusses F3Q 2013 Results - Earnings Call Transcript
» Splunk's CEO Discusses F2Q13 Results - Earnings Call Transcript
Great. Thank you, Bethany, and good afternoon. 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, and an audio replay of the call will be available on our website. 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 fiscal 2014 first quarter and full year; expanded use of our software by our existing customers; the size of our license purchases; our investments in our sales capacity, field operations and vertical markets; 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 during made -- made during today's call 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 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 exclude stock-based compensation expense and payroll taxes that are related to employee stock transactions, which cannot be determined at this time and are 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, welcome to the call. Q4 was strong. Revenue for our fiscal fourth quarter was $65.2 million, up 51% compared to Q4 last year. License revenue was $46.8 million, up 43% compared to the same quarter last year. We finished the full fiscal year at $198.9 million, up 64% over last year.
We added more than 400 new customers, including DuPont, Poste Italiane, Siemens Energy and University of South Australia and the Department of Homeland Security's Emergency Readiness Team. We now have more than 5,200 customers worldwide, including over 60 of the Fortune 100 and about 200 of the Fortune 500. Eight of the top 10 companies in the Fortune 100 are now Splunk customers. In the past year, we added 11 new customers from the Fortune 100 list, including 5 in Q4 alone, and we added about 30 new customers from the Global 500 last year, 11 of those in Q4. With 400 new customers this quarter, not including Storm, our new customer additions are consistent with last year, and the mix is much more weighted towards global accounts, reflecting strong evidence of where our field investment model is really working.
One particular customer win in Q4 that I'd like to call out is an 8-figure, multi-hundred terabytes per day transaction with a technology company. It stands as the single-largest transaction in Splunk history, and it represents the kind of adoption we've discussed before, where we enable our customers to standardize on Splunk. We have a team of people who report to work there every Monday, and we operate as one team. This is a result of a 6-year relationship that grew from departmental to multi-departmental, driving ongoing customer success, and we are now the standard for managing their machine data. Use cases include security, infrastructure, customer authentication, content delivery and overall customer experience. It's all in the logs, and it's all in the teamwork.
Another customer that expanded their use of Splunk in Q4 and is standardizing on us is StubHub. StubHub is an online marketplace, owned by eBay, which provide services for buyers and sellers of tickets to sporting events and concerts. In addition to Splunk Enterprise, StubHub also licensed our app for Enterprise Security.