Interested parties may access the call by dialing (866) 501-1535. International parties may access the call by dialing (216) 672-5582. “Data helps save lives. These non-GAAP financial measures exclude all or a combination of the following (as reflected in the following reconciliation tables): expenses related to stock-based compensation and related employer payroll tax, amortization of acquired intangible assets, acquisition-related adjustments, including the partial release of the valuation allowance due to acquisitions, capitalized software development costs and non-cash interest expense related to convertible senior notes that were issued in the third quarter of fiscal 2019. The non-GAAP tax rate applied to the three months ended April 30, 2020 was 20%.

The company is withdrawing its previous guidance for its fiscal year 2021 (ending January 31, 2021). All other brand names, product names, or trademarks belong to their respective owners. ET) to discuss the company’s financial results and business highlights.

These expenses are tied to the exercise or vesting of underlying equity awards and the price of Splunk’s common stock at the time of vesting or exercise, which may vary from period to period independent of the operating performance of Splunk’s business. This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding Splunk’s revenue and non-GAAP operating margin targets for the company’s fiscal second quarter in the paragraphs under “Financial Outlook” above and other statements regarding our market opportunity, including the impact of COVID-19 on the business environment, including the pace of customer digital transformation and the growing importance of data, the market for data-related products and trends in this market, future growth and related targets, including trends in our cloud software business mix, momentum, strategy, technology and product innovation, expectations for our industry and business, including our business model, customer demand, our partner relationships, customer success and feedback, expanding use of Splunk by customers, and expected benefits and scale of our products. Contracts are annualized by dividing the total contract value by the number of days in the contract term and then multiplying by 365.To supplement Splunk’s condensed consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the United States (“GAAP”), Splunk provides investors with the following non-GAAP financial measures: cost of revenues, cloud services gross profit,  gross margin, research and development expense, sales and marketing expense, general and administrative expense, operating income (loss), operating margin, income tax provision (benefit), net income (loss), net income (loss) per share and free cash flow (collectively the “non-GAAP financial measures”).

The top 10 competitors average 29.6B.

Splunk Inc. Operating Metrics. The non-GAAP tax rate applied to the three months ended April 30, 2020 was 20%. Splunk expects to utilize this annual non-GAAP tax rate for all of fiscal 2020 and will provide updates to this rate on an annual basis, or more frequently if material changes occur.

HubSpot annual revenue for 2017 was $0.376B, a 38.62% increase from 2016. Splunk excludes employer payroll tax expense related to employee stock plans in order for investors to see the full effect that excluding that stock-based compensation expense had on Splunk’s operating results.

Splunk technology is designed to investigate, monitor, analyze and act on data at any scale.Total Annual Recurring Revenue (“ARR”) represents the annualized revenue run-rate of active subscription, term license, and maintenance contracts at the end of a reporting period.

Contracts are annualized by dividing the total contract value by the number of days in the contract term and then multiplying by 365. The non-GAAP financial measures are meant to supplement and be viewed in conjunction with GAAP financial measures.The following tables reconcile Splunk’s GAAP results to Splunk’s non-GAAP results included in this press release. Announces Fiscal First Quarter 2021 Financial Results - HubSpot annual revenue for 2018 was $0.513B, a 36.57% increase from 2017.

Splunk considers free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated or used by the business.Splunk excludes stock-based compensation expense because it is non-cash in nature and excluding this expense provides meaningful supplemental information regarding Splunk’s operational performance and allows investors the ability to make more meaningful comparisons between Splunk’s operating results and those of other companies.

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