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Splunk, Inc. Announces Fiscal First Quarter 2013 Financial Results - Revenue grows 80% year-over-year; Customer count surpasses 4,000 (NASDAQ: SPLK) -
Splunk, Inc. Announces Fiscal First Quarter 2013 Financial Results


PRZOOM - /newswire/ - San Francisco, CA, United States, 2012/05/31 - Revenue grows 80% year-over-year; Customer count surpasses 4,000 (NASDAQ: SPLK) - NASDAQ: SPLK

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Splunk, Inc., the leading provider of software for real-time operational intelligence, today announced results for its fiscal first quarter ended April 30, 2012

"Our first quarter was a strong start to fiscal 2013 and continues the momentum we experienced last year," said Godfrey Sullivan, chairman and CEO, Splunk. "We added more than 350 new customers and now have over 4,000 customers using Splunk software to achieve operational intelligence from their machine-generated data."

First Quarter 2013 Financial Highlights

• Total revenue was $37.2 million, up 80% year-over-year.
• License revenue was $24.4 million, up 68% year-over-year.
• GAAP operating loss was $6.2 million; GAAP operating margin was negative 16.6%. Non-GAAP operating loss was $3.5 million; non-GAAP operating margin was negative 9.5%.
• GAAP net loss was $20.5 million and included $2.7 million in non-cash, stock-based compensation expenses, and a $14.1 million non-cash, non-recurring warrant-related charge. Non-GAAP net loss was $3.7 million.
• GAAP loss per share was $0.71 based on a 28.7 million weighted-average share count. Non-GAAP loss per share was $0.04 on a 94.6 million share count.
• Operating cash flow was $11.6 million with free cash flow of $9.7 million.
• Cash and cash equivalents totaled $266.1 million as of April 30, 2012 and reflects net cash proceeds of $226.5 million from the company's initial public offering of common stock.

A reconciliation of GAAP to non-GAAP results is provided in the accompanying table.

First Quarter 2013 and Recent Business Highlights

New paid license, expansion, and upgrade customers include: CenturyLink, Daiwa Securities, Evernote, NASA, McKesson Health Solutions, Scottish Parliament, Stanford University, Tesco, and U.S. Department of Health and Human Services.
Hosted more than 1,500 customers and partners at 15 SplunkLive! events in Australia, Germany, Hong Kong, Singapore, Spain, Switzerland and the U.S., where attendees learned from existing customers how to leverage their machine data across IT and business use cases.

Granted a second U.S. patent for innovative Time-Series Search Engine Technology.
Introduced Splunk App for Enterprise Security 2.0, a major enhancement to our next-generation security solution for monitoring known threats, support for forensic investigations, big data analytics to help identify advanced persistent threats, and dashboards for security posture and investigation workflows.
Introduced Splunk StormTM (beta), a service running in the public cloud that provides developers and other customers with an elastic, multi-tenant, scalable, pay-per-use version of Splunk software.
Introduced Splunk App for VMware (beta), which collects and analyzes data from the virtualization layer to enable true end-to-end visibility in virtualized environments.

Introduced two software development kits (SDKs) for Python and JavaScript, in beta and preview testing stages respectively. The Splunk SDKs make it easier for customers to integrate Splunk with other applications and systems and build custom visualizations of Splunk data.

The San Francisco Business Times named Splunk one of the "Best Places to Work" in 2012 for a 5th consecutive year.
SC Magazine recognized Splunk with its award for "Best Enterprise Security Solution - EMEA."
Splunk customer Crossroads HK was honored with a ComputerWorld Laureate's award for their use of Splunk software in organizing volunteer resources in Asia Pacific.

Key Management Appointments
Guido Schroeder, formerly an executive with SAP, joined Splunk as senior vice president of products.
James Murray, formerly an executive with Autonomy, joined Splunk as vice president and general manager of EMEA.

Financial Outlook
As of May 31, 2012, the company is providing the following guidance for its fiscal second quarter 2013 ending July 31, 2012:

• Total revenue is expected to be between $38 million and $40 million.
• Non-GAAP operating margin is expected to be between negative 8% and negative 9%.

As of May 31, 2012, the company is providing the following guidance for its fiscal year ending January 31, 2013:

• Total revenue is expected to be between $174 million and $177 million.
• Non-GAAP operating margin is expected to be between negative 4% and negative 5%.

All forward-looking non-GAAP measures contained in this section "Financial Outlook" exclude estimates for stock-based compensation expenses. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis.

Conference Call and Webcast
Splunk's executive management team will host a conference call today beginning at 2:00 pm. PT (5:00 pm. ET) to discuss the company's financial results and business highlights. Interested parties may access the call by dialing (866) 501-1535. International parties may access the call by dialing (216) 672-5582. A live audio webcast of the conference call will be available through Splunk's Investor Relations website at A replay of the call will be available through June 7, 2012 by dialing (855) 859-2056 and referencing Conference ID# 77937219.

Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding Splunk's revenue and GAAP and non-GAAP operating margin targets for the company's fiscal second quarter and fiscal year 2013 in the paragraphs under "Financial Outlook" above, and other statements regarding momentum in the company's business. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: Splunk's limited operating history, particularly as a new public company; risks associated with Splunk's rapid growth, particularly outside of the U.S.; and general market, political, economic and business conditions.

Additional information on potential factors that could affect Splunk's financial results is included in the company's final prospectus for its initial public offering, which is on file with the U.S. Securities and Exchange Commission. Additional information will also be set forth in Splunk's quarterly reports on Form 10-Q, annual reports on Form 10-K and other filings that the company makes with the Securities and Exchange Commission from time to time. Splunk does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

Non-GAAP financial measures and reconciliations
To supplement Splunk's consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the United States ("GAAP"), Splunk provides investors with certain non-GAAP financial measures, including non-GAAP operating loss, non-GAAP net loss, non-GAAP operating margin, and non-GAAP loss per share (collectively the "non-GAAP financial measures"). These non-GAAP financial measures exclude stock-based compensation expense and the change in fair value of certain preferred stock warrants previously issued by Splunk. In addition, non-GAAP financial measures include free cash flow, which represents cash from operations less purchases of property and equipment. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Splunk uses these non-GAAP financial measures for financial and operational decision-making purposes and as a means to evaluate period-to-period comparisons. Splunk believes that these non-GAAP financial measures provide useful information about Splunk's operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision making. In addition, these non-GAAP financial measures facilitate comparisons to competitors' operating results.

Splunk excludes stock-based compensation expense from its non-GAAP operating loss, non-GAAP net loss, non-GAAP operating margin and non-GAAP loss per share because such expense is non-cash in nature. Splunk excludes expense attributable to the change in fair value of certain preferred stock warrants from its non-GAAP financial measures because it is a non-recurring, non-cash expense. Splunk considers free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business that can be used for strategic opportunities, including investing in Splunk's business, making strategic acquisitions, and strengthening Splunk's balance sheet.

There are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with GAAP, may be different from non-GAAP financial measures used by Splunk's competitors and exclude expenses that may have a material impact upon Splunk's reported financial results. Further, stock-based compensation expense has been and will continue to be for the foreseeable future a significant recurring expense in Splunk's business and an important part of the compensation provided to Splunk's employees. The non-GAAP financial measures are meant to supplement, and be viewed in conjunction with, GAAP financial measures.

About Splunk
Splunk® Inc. ( provides the engine for machine data™. Splunk software collects, indexes and harnesses the massive machine data continuously generated by the websites, applications, servers, networks and mobile devices that power business. Splunk software enables organizations to monitor, search, analyze, visualize and act on massive streams of real-time and historical machine data. More than 4,000 enterprises, universities, government agencies and service providers in over 80 countries use Splunk Enterprise to gain operational intelligence that deepens business understanding, improves service and uptime, reduces cost and mitigates cyber-security risk.

For more information, please contact:

Media Contact Information:
Sherry Lowe, Splunk Inc.
P: 415.852.5529 - E: slowe[.]
Twitter: [.]SplunkNews

Investor Contact Information:
Ken Tinsley, Splunk Inc.
P: 415.848.8476 - E: ktinsley[.]

Splunk is a registered trademark of Splunk Inc. in the Unites States and other jurisdictions. All other marks and names mentioned herein may be trademarks of their respective owners.

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Splunk, Inc. Announces Fiscal First Quarter 2013 Financial Results

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Contact: Paul Wilke - 
415-848-8578 pwilke[.]
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Splunk, Inc. securities in any jurisdiction including any other companies listed or named in this release.

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