Confluent reported Q3 2024 revenue of $250.2 million, up 25% year-over-year, with subscription revenue increasing 27% to $239.9 million. The company narrowed its net loss to $74.1 million from $92.7 million in Q3 2023. Confluent Cloud revenue grew to 54% of subscription revenue, up from 48% a year ago.Gross margin improved to 75% from 72% in Q3 2023, driven by efficiencies in personnel costs. Operating expenses rose 11% to $280.2 million, with increases across R&D, sales and marketing, and G&A. The company ended the quarter with $1.86 billion in cash and marketable securities.Confluent's customer base grew 16% year-over-year to approximately 5,680, with 1,346 customers contributing over $100,000 in annual recurring revenue. The company's dollar-based net retention rate was 117%, though it expects near-term pressure on this metric due to its shift to a consumption-based model for Confluent Cloud and ongoing macroeconomic uncertainty impacting customer spending.

Confluent reported Q3 2024 revenue of $250.2 million, up 25% year-over-year, with subscription revenue increasing 27% to $239.9 million. The company narrowed its net loss to $74.1 million from $92.7 million in Q3 2023. Confluent Cloud revenue grew to 54% of subscription revenue, up from 48% a year ago.Gross margin improved to 75% from 72% in Q3 2023, driven by efficiencies in personnel costs. Operating expenses rose 11% to $280.2 million, with increases across R&D, sales and marketing, and G&A. The company ended the quarter with $1.86 billion in cash and marketable securities.Confluent's customer base grew 16% year-over-year to approximately 5,680, with 1,346 customers contributing over $100,000 in annual recurring revenue. The company's dollar-based net retention rate was 117%, though it expects near-term pressure on this metric due to its shift to a consumption-based model for Confluent Cloud and ongoing macroeconomic uncertainty impacting customer spending.