Confluent Revenue & Financials

Confluent's financial results demonstrate explosive cloud revenue adoption, expanding gross margins, and steady progression toward operating leverage. In fiscal year 2024, Confluent generated consolidated net revenue of $960.0 million, representing a robust 24% year-over-year increase compared to $777.0 million in FY2023. Confluent Cloud was the primary economic engine, surging over 40% year-over-year to surpass $500 million in ARR. GAAP gross profit expanded to $700 million, resulting in a GAAP gross margin of 73%, while Non-GAAP subscription gross margin reached an impressive 79.5%. Non-GAAP operating margins turned positive in late FY2024, demonstrating disciplined cloud infrastructure cost management and operational efficiency. The company closed the fiscal year with approximately $1.9 billion in cash, cash equivalents, and marketable securities, providing an unshakeable liquidity cushion to fund R&D and generative AI streaming innovations.