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February 26, 2016updated 31 Aug 2016 12:38pm

Revenue growth and new customers, but net losses increases for Splunk

600 new enterprise customers help revenue soar under new CEO.

By Charlotte Henry

Big data operational intelligence firm Splunk Q4 revenue reached $220m, up 49% year-on-year from $147m in January 2015. $141m came from license revenues, up 44% year-over-year from $98m, and $78.6m in maintenance and services, which was up from $49.3m.

The revenue announced beat guidance, which had been set at between $200m and $202m.

For the full year 2016, the total revenues were $668.4m, a 48% year-on-year increase from $450.9m. This was made up from $405.4m in license revenue, and $263m in maintenance and services revenue.

Total gross profit for the three months ended January 31st 2015 was $184.6m, up from $125.9m the year before. For the full year profit was $554m, up from $382.5m the year before.

The net loss for the quarter was $79.3m, an increase from the $57m lost from the same time last year. For the fiscal year the net loss was £278.8m, an increase from the £217m net loss reported for fiscal year 2015.

The firm said that it had signed up more than 600 new enterprise customers in the quarter. It said that new and expansion customers included big names such as, Bloomberg, the Federal Reserve, Nasdaq, GoDaddy and William Hill.

Doug Merritt, President and CEO of Splunk, said: "Our record results, customer adoption and expansions reaffirm that we are truly differentiated in the market. We ended the year with over 11,000 customers who recognize that the more data they put into Splunk, the more value they realize."

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The firm put out financial guidance that said it would have revenues of between $172m and $174m for the first quarter 2017, ending April 30 2016, with a non-GAAP operating margin of between -1% and -2%.

Merrit, who replaced Godfrey Sullivan as CEO in November 2015, also revealed that on the back of the results, the firm is raising its outlook for fiscal year 2017. Guidance for the full fiscal year, ending January 31st 2017, is now for total revenues of $880m, from the guidance of $850m that was predicted in November 2015.

Splunk has recently joined with Verizon in a new partnership for a security venture. The firms will work together, with Splunk analysing data and monitoring threats on Verizon devices, with a focus on the increasing number of IoT connected devices.

The firm previously bought the cyber security firm Caspida for $190m in July.

Splunk shares closed the day’s trading in the US up 5.33% at $38.53 a share. The shares hit $42.91 after an 11$ rise in after-hours trading.

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