Services-Prepackaged SoftwareIFRS · EUR

Confluent, Inc.

Confluent, Inc. builds a data streaming platform that helps organizations move, connect, process, and govern data in real time. Its core offerings include the fully managed Confluent Cloud, the self-managed Confluent Platform, Confluent Private Cloud, and the BYOC-based WarpStream service, all centered on Apache Kafka and enterprise data-in-motion use cases.

Kysy yhtiöstä
Liikevaihto1 167milj. EUR
+21,1 %v/v
Liikevoitto (EBIT)−380milj. EUR
+9,3 %v/v
EBIT-marginaali−32,6%
+10,9 %-yks.v/v
Nettotulos−295milj. EUR
+14,4 %v/v
Vapaa kassavirta60,7milj. EUR
+96,4 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−50005001 0001 500milj. EUR2020: 237 milj. EUR2020: EBIT −233 milj. EUR20202021: 388 milj. EUR2021: EBIT −340 milj. EUR20212022: 586 milj. EUR2022: EBIT −463 milj. EUR20222023: 777 milj. EUR2023: EBIT −479 milj. EUR20232024: 964 milj. EUR2024: EBIT −419 milj. EUR20242025: 1 167 milj. EUR2025: EBIT −380 milj. EUR20251 167−380
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Confluent, Inc.

Liiketoiminta

Osuus liikevaihdosta
Confluent Cloud53 %

Usage-based, fully managed cloud-native streaming and data integration services.

Confluent Platform44 %

Self-managed software subscriptions, including term licenses and PCS.

Confluent Private Cloud2 %

Private-infrastructure deployment option for regulated and control-sensitive customers.

Confluent WarpStream1 %

Bring-your-own-cloud managed service where customer data stays in their cloud.

Tuotteet

Raportoitu · osuus liikevaihdosta
53,5%31,2%11,3%FY2025100 %
  • Confluent Cloud53,5 %
  • Post Contract Customer Support31,2 %
  • License11,3 %
  • Services4,0 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Confluent sells primarily to enterprises that need to stream and govern data across applications, systems, and cloud environments. Buyers include platform engineering teams, central data teams, and application owners in industries that value low-latency data movement, compliance, and operational scale. The company also serves ISVs, managed service providers, and cloud service partners that embed or resell Confluent-based capabilities.

Large enterprise customers

Buy Confluent Cloud or Platform to connect systems, support production workloads, and expand real-time use cases.

Regulated and control-sensitive organizations

Buy Confluent Private Cloud or self-managed offerings to keep tighter control over data, policy, and compliance.

Developers and technical teams

Adopt Confluent through self-service, community downloads, and trials before expanding into paid usage.

ISVs and technology partners

Integrate Confluent into their products to enable real-time data features and increase consumption.

Managed service providers and CSPs

Use OEM and partner programs to launch streaming-based services faster.

Strategia

Confluent is shifting its mix toward Confluent Cloud while continuing to monetize the installed base of Confluent Platform. Management is investing in product development, go-to-market execution, and customer expansion, while also trying to improve profitability, margins, and cash flow through more disciplined spending.

Increase Confluent Cloud adoptionLyhyt aikaväli

Cloud is the main growth engine and supports usage-based expansion over time.

Expand customer use cases and net retentionKeskipitkä aikaväli

Broader platform adoption increases switching costs and platform value.

Balance growth with profitability and cash flowLyhyt aikaväli

The company is still loss-making and needs disciplined scaling.

Strengthen partner and OEM ecosystemKeskipitkä aikaväli

Partners extend distribution and embed Confluent into third-party products.

Maantiede

Confluent is headquartered in the United States and sells globally through cloud and enterprise software channels. The filings provided do not disclose a country-level revenue split, but the business is structured to serve customers across public cloud, private cloud, and hybrid environments, which supports international adoption and partner-led expansion.

Riskit

Confluent remains exposed to adoption risk in both its cloud and self-managed products, especially if customers slow spending or shift away from Kafka-based architectures. The company also faces execution risk from its transition toward consumption-based revenue, ongoing operating losses, and dependence on a few core offerings and partner channels.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Usage-based revenue volatility1Dependence on Confluent Platform2Execution risk in growth and scaling3Competitive pressure4
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Usage-based revenue volatilityVaikutus: KorkeaTodennäköisyys: Korkea

    Confluent Cloud revenue is recognized based on customer consumption, which can vary period to period.

    Kohdistuu: Cloud usage can weaken if customers optimize spend or delay workloads

  2. Dependence on Confluent PlatformVaikutus: KorkeaTodennäköisyys: Kohtalainen

    A large share of subscription revenue still comes from the self-managed product.

    Kohdistuu: Confluent Platform contributed 44% of subscription revenue in 2025 and 47% in 2024

  3. Execution risk in growth and scalingVaikutus: KeskitasoTodennäköisyys: Korkea

    Management is investing ahead of benefits, so misallocation can hurt margins and growth.

  4. Competitive pressureVaikutus: KeskitasoTodennäköisyys: Korkea

    The company competes with cloud providers, data infrastructure vendors, and open-source alternatives.

  5. Customer concentration in strategic channelsVaikutus: Keskitaso

    Partner-led distribution and OEM programs must convert into sustained consumption.

Kysy Clarifolta: Confluent, Inc.

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition by product

Cloud usage is recognized as consumed, while Platform includes point-in-time license and ratable PCS revenue.

Vaikutus: Can shift revenue timing across quarters and affect comparability

Standalone selling price estimates

Management allocates bundled contracts using SSP estimates when standalone prices are not directly observable.

Vaikutus: Affects revenue split between license, support, and services

Usage-based revenue variability

Consumption patterns drive recognized revenue for Confluent Cloud and WarpStream.

Vaikutus: Creates seasonality and forecasting uncertainty

Critical estimates and internal controls

The company highlights judgment in estimates and the need for effective internal controls.

Vaikutus: Errors could affect reported results and investor confidence

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Päivitetty: 24.9.2026

Confluent, Inc. – Services-Prepackaged Software | Analyysi – Clarifo