This company has been marked as potentially delisted and may not be actively trading.

Confluent (CFLT) Financials

Annual Income Statements for Confluent

This table shows Confluent's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-95	-230	-343	-453	-443	-345	-295
Consolidated Net Income / (Loss)	-95	-230	-343	-453	-443	-345	-295
Net Income / (Loss) Continuing Operations	-95	-230	-343	-453	-443	-345	-295
Total Pre-Tax Income	-95	-230	-340	-446	-407	-335	-301
Total Operating Income	-98	-233	-340	-463	-479	-419	-380
Total Gross Profit	100	161	251	384	547	706	867
Total Revenue	150	237	388	586	777	964	1,167
Operating Revenue	150	237	388	586	777	964	1,167
Total Cost of Revenue	49	75	137	202	230	257	300
Operating Cost of Revenue	49	75	137	202	230	257	300
Total Operating Expenses	199	394	590	846	1,026	1,125	1,247
Selling, General & Admin Expense	25	123	109	126	138	157	173
Marketing Expense	116	166	319	456	505	547	593
Research & Development Expense	58	105	162	264	349	421	482
Restructuring Charge	-	-	0.00	0.00	35	0.00	0.00
Total Other Income / (Expense), net	3.06	3.14	-0.01	16	72	84	79
Other Income / (Expense), net	0.57	3.14	-0.01	16	72	84	79
Income Tax Expense	-0.01	-0.21	3.17	6.29	36	10	-5.41
Basic Earnings per Share	($0.99)	($2.21)	($1.82)	($1.62)	($1.47)	($1.07)	($0.86)
Weighted Average Basic Shares Outstanding	96.07M	104.22M	188.63M	280.08M	300.73M	321.86M	343.80M
Diluted Earnings per Share	($0.99)	($2.21)	($1.82)	($1.62)	($1.47)	($1.07)	($0.86)
Weighted Average Diluted Shares Outstanding	96.07M	104.22M	188.63M	280.08M	300.73M	321.86M	343.80M
Weighted Average Basic & Diluted Shares Outstanding	96.07M	104.22M	188.63M	291.13M	312.62M	334.02M	357.64M

This table shows Confluent's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-103	-93	-94	-93	-90	-74	-88	-68	-82	-67	-79
Consolidated Net Income / (Loss)	-103	-93	-94	-93	-90	-74	-88	-68	-82	-67	-79
Net Income / (Loss) Continuing Operations	-103	-93	-94	-93	-90	-74	-88	-68	-82	-67	-79
Total Pre-Tax Income	-102	-91	-63	-91	-86	-71	-86	-81	-75	-65	-80
Total Operating Income	-119	-109	-85	-111	-108	-94	-106	-101	-96	-83	-99
Total Gross Profit	131	144	156	156	170	186	194	202	208	222	235
Total Revenue	189	200	213	217	235	250	261	271	282	299	315
Operating Revenue	189	200	213	217	235	250	261	271	282	299	315
Total Cost of Revenue	58	57	57	61	65	64	68	69	74	77	80
Operating Cost of Revenue	58	57	57	61	65	64	68	69	74	77	80
Total Operating Expenses	251	252	241	267	278	280	299	303	305	305	334
Selling, General & Admin Expense	36	32	34	38	39	39	39	40	40	40	53
Marketing Expense	128	129	120	131	133	138	145	146	144	143	160
Research & Development Expense	86	91	87	98	106	103	115	117	121	122	122
Total Other Income / (Expense), net	18	18	22	21	22	22	19	20	21	18	20
Other Income / (Expense), net	18	18	22	21	22	22	19	20	21	18	20
Income Tax Expense	1.67	1.57	31	2.47	3.40	2.98	1.56	-13	6.62	1.55	-0.39
Basic Earnings per Share	($0.35)	($0.30)	($0.30)	($0.30)	($0.28)	($0.23)	($0.26)	($0.20)	($0.24)	($0.19)	($0.23)
Weighted Average Basic Shares Outstanding	297.83M	303.90M	300.73M	314.20M	319.42M	324.32M	321.86M	335.76M	341.21M	346.20M	343.80M
Diluted Earnings per Share	($0.35)	($0.30)	($0.30)	($0.30)	($0.28)	($0.23)	($0.26)	($0.20)	($0.24)	($0.19)	($0.23)
Weighted Average Diluted Shares Outstanding	297.83M	303.90M	300.73M	314.20M	319.42M	324.32M	321.86M	335.76M	341.21M	346.20M	343.80M
Weighted Average Basic & Diluted Shares Outstanding	302.42M	307.88M	312.62M	317.83M	322.72M	327.99M	334.02M	340.39M	344.74M	349.82M	357.64M

This table details how cash moves in and out of Confluent's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-20	18	1,339	-941	-86	36	-39
Net Cash From Operating Activities	-69	-82	-105	-157	-104	33	64
Net Cash From Continuing Operating Activities	-29	-82	-105	-157	-104	33	64
Net Income / (Loss) Continuing Operations	-95	-230	-343	-453	-443	-345	-295
Consolidated Net Income / (Loss)	-95	-230	-343	-453	-443	-345	-295
Depreciation Expense	1.20	1.57	3.63	7.62	14	22	30
Amortization Expense	8.08	17	29	32	7.20	20	40
Non-Cash Adjustments To Reconcile Net Income	19	156	182	288	372	403	407
Changes in Operating Assets and Liabilities, net	37	-27	23	-32	-54	-67	-117
Net Cash From Investing Activities	36	-177	-401	-866	-85	-75	-185
Net Cash From Continuing Investing Activities	36	-177	-401	-866	-85	-75	-185
Purchase of Property, Plant & Equipment	-2.93	-4.65	-8.94	-14	-21	-24	-26
Acquisitions	-	-	0.00	0.00	-56	-116	0.00
Purchase of Investments	-66	-330	-664	-2,052	-1,587	-1,542	-1,640
Sale and/or Maturity of Investments	104	157	272	1,201	1,578	1,606	1,481
Net Cash From Financing Activities	13	277	1,845	82	102	80	81
Net Cash From Continuing Financing Activities	13	277	1,845	82	102	80	81
Repurchase of Common Equity	0.00	-0.11	-3.61	-0.79	-0.26	0.00	0.00
Issuance of Common Equity	8.97	4.77	806	41	29	24	24
Other Financing Activities, net	4.47	12	-39	42	74	56	57
Effect of Exchange Rate Changes	-0.09	-0.01	0.01	-0.00	0.12	-2.07	0.78
Cash Income Taxes Paid	0.44	0.96	2.17	5.53	8.05	12	16

This table details how cash moves in and out of Confluent's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	-31	4.40	33	-13	-25	11	63	-107	17	2.95	49
Net Cash From Operating Activities	-29	-9.06	12	-26	8.59	16	35	-27	18	31	42
Net Cash From Continuing Operating Activities	-29	-9.06	12	-26	8.59	16	35	-27	18	31	42
Net Income / (Loss) Continuing Operations	-103	-93	-94	-93	-90	-74	-88	-68	-82	-67	-79
Consolidated Net Income / (Loss)	-103	-93	-94	-93	-90	-74	-88	-68	-82	-67	-79
Depreciation Expense	3.26	3.61	3.92	4.31	5.84	5.70	6.23	6.61	7.34	7.82	7.79
Amortization Expense	1.42	1.58	1.91	3.32	4.42	5.62	6.97	8.03	9.33	11	11
Non-Cash Adjustments To Reconcile Net Income	94	93	89	97	100	100	106	94	104	105	104
Changes in Operating Assets and Liabilities, net	-24	-14	12	-38	-12	-21	4.29	-68	-21	-27	-1.62
Net Cash From Investing Activities	-29	-12	8.09	-17	-47	-22	10	-112	-8.49	-47	-18
Net Cash From Continuing Investing Activities	-29	-12	8.09	-17	-47	-22	10	-112	-8.49	-47	-18
Purchase of Property, Plant & Equipment	-6.14	-4.02	-5.42	-5.73	-5.88	-6.28	-6.09	-6.24	-7.11	-6.22	-6.59
Purchase of Investments	-546	-236	-351	-443	-457	-274	-367	-405	-466	-416	-353
Sale and/or Maturity of Investments	524	228	375	432	416	374	384	299	465	375	342
Net Cash From Financing Activities	27	26	11	30	13	17	20	31	6.06	20	25
Net Cash From Continuing Financing Activities	27	26	11	30	13	17	20	31	6.06	20	25
Other Financing Activities, net	28	15	11	14	13	8.84	20	17	6.06	10	25
Effect of Exchange Rate Changes	-0.31	-1.20	1.42	-0.67	-0.20	0.39	-1.59	0.54	1.34	-0.88	-0.23
Cash Income Taxes Paid	2.10	2.38	1.70	1.81	3.33	4.09	2.47	2.33	4.07	3.03	6.28

This table presents Confluent's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	526	2,343	2,345	2,461	2,695	2,985
Total Current Assets	428	2,226	2,198	2,252	2,351	2,607
Cash & Equivalents	37	1,376	436	350	386	347
Short-Term Investments	252	640	1,491	1,551	1,525	1,707
Accounts Receivable	106	137	178	230	314	391
Prepaid Expenses	19	45	57	77	79	108
Other Current Assets	14	28	36	44	47	55
Plant, Property, & Equipment, net	6.72	14	29	54	79	93
Total Noncurrent Assets	92	102	118	155	265	285
Goodwill	-	-	0.00	52	164	164
Intangible Assets	-	-	-	3.49	7.92	6.05
Other Noncurrent Operating Assets	92	102	118	100	93	115
Total Liabilities & Shareholders' Equity	526	2,343	2,345	2,461	2,695	2,985
Total Liabilities	258	1,492	1,575	1,650	1,734	1,816
Total Current Liabilities	194	348	424	487	589	681
Accounts Payable	1.65	7.59	21	6.71	7.53	21
Accrued Expenses	34	99	105	142	194	183
Current Deferred Revenue	143	221	290	331	379	469
Other Current Liabilities	16	21	7.38	7.89	8.69	8.18
Total Noncurrent Liabilities	64	1,144	1,151	1,163	1,144	1,136
Long-Term Debt	-	1,081	1,085	1,088	1,092	1,096
Noncurrent Deferred Revenue	16	26	33	22	30	30
Other Noncurrent Operating Liabilities	48	38	34	53	22	9.88
Commitments & Contingencies	-	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-306	850	769	810	961	1,169
Total Preferred & Common Equity	-306	850	769	810	961	1,169
Preferred Stock	0.00	-	0.00	0.00	0.00	0.00
Total Common Equity	-306	850	769	810	961	1,169
Common Stock	100	1,600	1,980	2,453	2,953	3,448
Retained Earnings	-406	-749	-1,201	-1,644	-1,989	-2,284
Accumulated Other Comprehensive Income / (Loss)	0.23	-0.83	-9.46	1.27	-2.64	5.66

This table presents Confluent's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025
Total Assets	2,314	2,293	2,328	2,362	2,440	2,528	2,608	2,699	2,817	2,877
Total Current Assets	2,175	2,115	2,140	2,168	2,226	2,307	2,266	2,343	2,441	2,499
Cash & Equivalents	503	343	313	317	336	311	323	279	296	299
Short-Term Investments	1,436	1,506	1,535	1,556	1,571	1,620	1,537	1,638	1,645	1,691
Accounts Receivable	143	170	189	183	200	257	279	298	358	356
Prepaid Expenses	59	59	64	71	76	74	83	82	96	103
Other Current Assets	33	37	39	41	43	44	45	46	48	50
Plant, Property, & Equipment, net	26	35	44	48	62	67	73	82	87	89
Total Noncurrent Assets	113	142	144	146	152	154	269	274	289	289
Goodwill	-	46	46	46	55	54	164	164	164	164
Intangible Assets	-	-	-	-	-	-	8.70	7.46	7.00	6.53
Other Noncurrent Operating Assets	113	96	99	100	97	100	96	102	118	118
Total Liabilities & Shareholders' Equity	2,314	2,293	2,328	2,362	2,440	2,528	2,608	2,699	2,817	2,877
Total Liabilities	1,530	1,548	1,566	1,573	1,594	1,655	1,674	1,673	1,754	1,758
Total Current Liabilities	379	401	423	435	439	520	535	530	613	623
Accounts Payable	14	10	2.46	1.99	1.88	14	16	5.98	11	12
Accrued Expenses	94	88	112	125	97	167	159	142	168	154
Current Deferred Revenue	259	296	301	301	331	329	350	373	424	447
Other Current Liabilities	11	7.30	7.62	7.74	10	11	11	9.09	9.25	9.39
Total Noncurrent Liabilities	1,151	1,147	1,143	1,137	1,155	1,134	1,139	1,143	1,141	1,136
Long-Term Debt	1,084	1,085	1,086	1,087	1,089	1,090	1,091	1,093	1,094	1,095
Noncurrent Deferred Revenue	31	29	27	23	17	20	25	33	31	28
Other Noncurrent Operating Liabilities	36	32	29	27	49	25	23	18	15	12
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	784	745	761	789	845	874	934	1,025	1,064	1,119
Total Preferred & Common Equity	784	745	761	789	845	874	934	1,025	1,064	1,119
Preferred Stock	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	784	745	761	789	845	874	934	1,025	1,064	1,119
Common Stock	1,892	2,103	2,229	2,349	2,585	2,703	2,826	3,079	3,192	3,318
Retained Earnings	-1,096	-1,354	-1,457	-1,550	-1,737	-1,827	-1,901	-2,057	-2,139	-2,205
Accumulated Other Comprehensive Income / (Loss)	-13	-4.45	-9.81	-9.77	-2.33	-2.10	9.42	2.86	10	6.23

This table displays calculated financial ratios and metrics derived from Confluent's official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	57.92%	63.95%	51.07%	32.60%	24.03%	21.08%
EBITDA Growth	0.00%	-139.23%	-45.32%	-32.44%	5.12%	24.20%	20.86%
EBIT Growth	0.00%	-135.83%	-47.64%	-31.40%	8.87%	17.71%	10.15%
NOPAT Growth	0.00%	-137.67%	-45.65%	-36.23%	-3.48%	12.45%	9.32%
Net Income Growth	0.00%	-141.82%	-49.16%	-32.02%	2.17%	22.06%	14.43%
EPS Growth	0.00%	-123.23%	17.65%	10.99%	9.26%	27.21%	19.63%
Operating Cash Flow Growth	0.00%	-19.21%	-28.03%	-49.76%	34.12%	132.28%	92.09%
Free Cash Flow Firm Growth	0.00%	0.00%	-20.83%	-94.41%	-20.80%	-7.96%	23.69%
Invested Capital Growth	0.00%	0.00%	-321.80%	14.33%	97.20%	7,093.73%	47.86%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	9.07%	6.08%	5.25%	4.82%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-0.23%	10.55%	-5.87%	5.25%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	1.87%	9.11%	-7.58%	2.23%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-0.28%	5.95%	-5.30%	1.71%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	1.86%	2.59%	1.72%	2.90%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-5.19%	5.16%	3.60%	3.37%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-3.43%	-2.08%	27.50%	219.15%	12.03%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	6.08%	0.63%	-1.68%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-0.79%	-156.50%	-13.97%	-5.81%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	67.04%	68.10%	64.60%	65.45%	70.44%	73.28%	74.30%
EBITDA Margin	-58.92%	-89.25%	-79.11%	-69.36%	-49.63%	-30.33%	-19.82%
Operating Margin	-65.49%	-98.56%	-87.56%	-78.96%	-61.62%	-43.50%	-32.58%
EBIT Margin	-65.11%	-97.23%	-87.56%	-76.16%	-52.34%	-34.73%	-25.77%
Profit (Net Income) Margin	-63.44%	-97.15%	-88.38%	-77.23%	-56.99%	-35.81%	-25.31%
Tax Burden Percent	99.99%	99.91%	100.93%	101.41%	108.87%	103.11%	98.20%
Interest Burden Percent	97.44%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	-416.85%	-150.34%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	-410.52%	-147.05%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	377.90%	122.62%
Return on Equity (ROE)	0.00%	-85.63%	-61.29%	-55.88%	-56.05%	-38.95%	-27.72%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	-306.88%	-188.95%
Operating Return on Assets (OROA)	0.00%	-43.72%	-23.68%	-19.04%	-16.92%	-12.98%	-10.59%
Return on Assets (ROA)	0.00%	-43.68%	-23.90%	-19.31%	-18.43%	-13.39%	-10.40%
Return on Common Equity (ROCE)	0.00%	97.72%	-29.81%	-55.88%	-56.05%	-38.95%	-27.72%
Return on Equity Simple (ROE_SIMPLE)	0.00%	75.05%	-40.32%	-58.81%	-54.63%	-35.90%	0.00%
Net Operating Profit after Tax (NOPAT)	-69	-163	-238	-324	-335	-293	-266
NOPAT Margin	-45.84%	-68.99%	-61.29%	-55.27%	-43.14%	-30.45%	-22.80%
Net Nonoperating Expense Percent (NNEP)	0.00%	-46.17%	-17.17%	-14.48%	-13.01%	-6.34%	-3.29%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-17.47%	-17.65%	-14.29%	-11.75%
Cost of Revenue to Revenue	32.96%	31.90%	35.40%	34.55%	29.56%	26.72%	25.70%
SG&A Expenses to Revenue	16.46%	51.79%	28.09%	21.45%	17.70%	16.26%	14.80%
R&D to Revenue	38.78%	44.55%	41.75%	45.06%	44.89%	43.71%	41.29%
Operating Expenses to Revenue	132.54%	166.66%	152.16%	144.42%	132.06%	116.78%	106.87%
Earnings before Interest and Taxes (EBIT)	-98	-230	-340	-446	-407	-335	-301
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-88	-211	-307	-406	-386	-292	-231
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	23.71	8.28	8.89	9.54	9.05
Price to Tangible Book Value (P/TBV)	0.00	0.00	23.71	8.28	9.54	11.62	10.59
Price to Revenue (P/Rev)	5.53	3.50	51.99	10.87	9.27	9.52	9.07
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	58.48	45.56
Enterprise Value to Revenue (EV/Rev)	0.00	4.71	49.57	9.43	8.23	8.67	8.25
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	249.62	149.68
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	1.27	1.41	1.34	1.14	0.94
Long-Term Debt to Equity	0.00	0.00	1.27	1.41	1.34	1.14	0.94
Financial Leverage	0.00	-1.08	-1.09	-1.10	-1.05	-0.92	-0.83
Leverage Ratio	0.00	1.96	2.56	2.89	3.04	2.91	2.67
Compound Leverage Factor	0.00	1.96	2.56	2.89	3.04	2.91	2.67
Debt to Total Capital	0.00%	0.00%	55.97%	58.50%	57.32%	53.19%	48.39%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	55.97%	58.50%	57.32%	53.19%	48.39%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	214.11%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-114.11%	44.03%	41.50%	42.68%	46.81%	51.61%
Debt to EBITDA	0.00	0.00	-3.52	-2.67	-2.82	-3.74	-4.74
Net Debt to EBITDA	0.00	0.00	3.05	2.07	2.11	2.80	4.14
Long-Term Debt to EBITDA	0.00	0.00	-3.52	-2.67	-2.82	-3.74	-4.74
Debt to NOPAT	0.00	0.00	-4.55	-3.35	-3.25	-3.72	-4.12
Net Debt to NOPAT	0.00	0.00	3.93	2.60	2.42	2.79	3.60
Long-Term Debt to NOPAT	0.00	0.00	-4.55	-3.35	-3.25	-3.72	-4.12
Altman Z-Score	0.00	0.39	8.31	2.24	2.31	2.87	3.26
Noncontrolling Interest Sharing Ratio	0.00%	214.11%	51.37%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	2.21	6.39	5.18	4.62	3.99	3.83
Quick Ratio	0.00	2.04	6.18	4.96	4.38	3.78	3.59
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-143	-173	-336	-406	-438	-334
Operating Cash Flow to CapEx	-2,350.09%	-1,764.67%	-1,174.90%	-1,088.43%	-501.27%	139.59%	245.74%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.45	0.27	0.25	0.32	0.37	0.41
Accounts Receivable Turnover	0.00	2.23	3.19	3.71	3.81	3.54	3.31
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	35.22	36.68	26.93	18.70	14.52	13.58
Accounts Payable Turnover	0.00	45.85	29.73	13.95	16.32	36.15	21.24
Days Sales Outstanding (DSO)	0.00	163.50	114.56	98.32	95.87	103.08	110.28
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	7.96	12.28	26.17	22.37	10.10	17.18
Cash Conversion Cycle (CCC)	0.00	155.54	102.28	72.15	73.50	92.98	93.10
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	-20	-85	-73	-2.04	143	211
Invested Capital Turnover	0.00	-23.47	-7.37	-7.42	-20.75	13.69	6.59
Increase / (Decrease) in Invested Capital	0.00	-20	-65	12	71	145	68
Enterprise Value (EV)	0.00	1,114	19,228	5,527	6,392	8,352	9,621
Market Capitalization	828	828	20,164	6,370	7,204	9,171	10,579
Book Value per Share	$0.00	($2.94)	$3.22	$2.69	$2.63	$2.93	$3.34
Tangible Book Value per Share	$0.00	($2.94)	$3.22	$2.69	$2.45	$2.41	$2.85
Total Capital	0.00	268	1,931	1,854	1,899	2,053	2,265
Total Debt	0.00	0.00	1,081	1,085	1,088	1,092	1,096
Total Long-Term Debt	0.00	0.00	1,081	1,085	1,088	1,092	1,096
Net Debt	0.00	-289	-935	-842	-812	-818	-958
Capital Expenditures (CapEx)	2.93	4.65	8.94	14	21	24	26
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-55	-138	-153	-136	-148	-128
Debt-free Net Working Capital (DFNWC)	0.00	234	1,878	1,774	1,765	1,762	1,926
Net Working Capital (NWC)	0.00	234	1,878	1,774	1,765	1,762	1,926
Net Nonoperating Expense (NNE)	26	67	105	129	108	52	29
Net Nonoperating Obligations (NNO)	0.00	-289	-935	-842	-812	-818	-958
Total Depreciation and Amortization (D&A)	9.28	19	33	40	21	42	69
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-23.10%	-35.61%	-26.12%	-17.52%	-15.41%	-10.93%
Debt-free Net Working Capital to Revenue	0.00%	98.87%	484.16%	302.72%	227.12%	182.86%	165.11%
Net Working Capital to Revenue	0.00%	98.87%	484.16%	302.72%	227.12%	182.86%	165.11%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($1.82)	($1.62)	($1.47)	($1.07)	($0.86)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	272.95M	280.08M	300.73M	321.86M	343.80M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($1.82)	($1.62)	($1.47)	($1.07)	($0.86)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	272.95M	280.08M	300.73M	321.86M	343.80M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	($1.82)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	188.63M	291.13M	312.62M	334.02M	357.64M
Normalized Net Operating Profit after Tax (NOPAT)	-69	-163	-238	-324	-311	-293	-266
Normalized NOPAT Margin	-45.84%	-68.99%	-61.29%	-55.27%	-40.00%	-30.45%	-22.80%
Pre Tax Income Margin	-63.45%	-97.23%	-87.56%	-76.16%	-52.34%	-34.73%	-25.77%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-0.05%	-1.05%	-0.17%	-0.06%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Confluent's official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	35.78%	31.93%	26.39%	24.63%	24.14%	24.99%	22.53%	24.80%	20.13%	19.31%	20.52%
EBITDA Growth	7.46%	12.32%	44.35%	43.04%	21.47%	30.34%	-28.41%	20.20%	23.06%	23.11%	17.48%
EBIT Growth	12.37%	20.21%	39.31%	40.03%	15.00%	21.88%	-37.50%	10.75%	12.91%	8.74%	7.93%
NOPAT Growth	-1.76%	8.64%	26.36%	32.96%	9.23%	13.78%	-24.92%	9.14%	10.99%	11.05%	6.25%
Net Income Growth	12.08%	20.15%	11.13%	39.06%	13.08%	19.99%	6.42%	27.31%	8.84%	10.30%	10.00%
EPS Growth	16.67%	26.83%	21.05%	42.31%	20.00%	23.33%	13.33%	33.33%	14.29%	17.39%	11.54%
Operating Cash Flow Growth	13.18%	78.30%	145.18%	66.63%	129.56%	272.33%	187.79%	-3.08%	110.88%	97.28%	19.60%
Free Cash Flow Firm Growth	-267.37%	-114.75%	-40.36%	26.29%	33.05%	-50.04%	-68.28%	-96.07%	-131.93%	48.89%	37.07%
Invested Capital Growth	100.28%	105.00%	97.20%	240.70%	14,855.45%	4,493.47%	7,093.73%	633.36%	559.82%	35.05%	47.86%
Revenue Q/Q Growth	8.60%	5.76%	6.50%	1.90%	8.17%	6.47%	4.40%	3.79%	4.12%	5.75%	5.46%
EBITDA Q/Q Growth	33.27%	11.51%	33.56%	-45.20%	8.00%	21.50%	-22.46%	9.76%	11.31%	21.55%	-31.43%
EBIT Q/Q Growth	32.57%	10.47%	30.95%	-43.87%	4.43%	17.72%	-21.54%	6.62%	6.73%	13.78%	-22.62%
NOPAT Q/Q Growth	28.13%	8.99%	22.05%	-31.50%	2.70%	13.55%	-12.94%	4.35%	4.68%	13.61%	-19.04%
Net Income Q/Q Growth	32.20%	10.40%	-1.54%	1.20%	3.30%	17.53%	-18.76%	23.26%	-21.27%	18.85%	-19.16%
EPS Q/Q Growth	32.69%	14.29%	0.00%	0.00%	6.67%	17.86%	-13.04%	23.08%	-20.00%	20.83%	-21.05%
Operating Cash Flow Q/Q Growth	62.63%	68.82%	235.04%	-312.13%	133.10%	81.76%	125.52%	-175.98%	167.71%	70.03%	36.72%
Free Cash Flow Firm Q/Q Growth	4.44%	6.27%	14.38%	3.88%	13.20%	-110.05%	3.97%	-11.99%	-2.67%	53.71%	-18.25%
Invested Capital Q/Q Growth	101.12%	1,542.73%	-156.50%	1,447.89%	19.54%	404.55%	-13.97%	41.34%	7.55%	3.27%	-5.81%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	69.40%	71.75%	73.24%	71.82%	72.35%	74.54%	74.13%	74.51%	73.73%	74.22%	74.70%
EBITDA Margin	-51.29%	-42.92%	-26.77%	-38.15%	-32.44%	-23.92%	-28.06%	-24.39%	-20.78%	-15.41%	-19.21%
Operating Margin	-63.06%	-54.27%	-39.72%	-51.26%	-46.11%	-37.44%	-40.50%	-37.32%	-34.16%	-27.91%	-31.50%
EBIT Margin	-53.76%	-45.51%	-29.51%	-41.66%	-36.81%	-28.44%	-33.11%	-29.79%	-26.69%	-21.76%	-25.30%
Profit (Net Income) Margin	-54.64%	-46.29%	-44.14%	-42.80%	-38.26%	-29.63%	-33.71%	-24.92%	-29.03%	-22.28%	-25.17%
Tax Burden Percent	101.64%	101.72%	149.58%	102.72%	103.94%	104.18%	101.80%	83.66%	108.79%	102.39%	99.51%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	-7,389.59%	-1,686.96%	-282.90%	-388.10%	-231.77%	-203.72%	-111.46%	-145.37%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	-7,387.69%	-1,685.21%	-281.80%	-386.39%	-232.16%	-202.01%	-110.48%	-144.27%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	7,350.70%	1,651.07%	254.06%	355.68%	203.70%	175.94%	89.48%	120.30%
Return on Equity (ROE)	-61.35%	-57.79%	-56.05%	-38.89%	-35.89%	-28.84%	-32.42%	-28.07%	-27.78%	-21.98%	-25.08%
Cash Return on Invested Capital (CROIC)	-200,946.00%	-11,960.39%	0.00%	-1,249.48%	-1,943.06%	-520.01%	-306.88%	-401.62%	-369.71%	-168.57%	-188.95%
Operating Return on Assets (OROA)	-15.81%	-14.26%	-9.54%	-14.44%	-13.12%	-10.48%	-12.38%	-11.80%	-10.63%	-8.83%	-10.39%
Return on Assets (ROA)	-16.07%	-14.50%	-14.27%	-14.83%	-13.64%	-10.92%	-12.60%	-9.87%	-11.57%	-9.04%	-10.34%
Return on Common Equity (ROCE)	-61.35%	-57.79%	-56.05%	-38.89%	-35.89%	-28.84%	-32.42%	-28.07%	-27.78%	-21.98%	-25.08%
Return on Equity Simple (ROE_SIMPLE)	-62.77%	-57.60%	0.00%	-45.33%	-42.30%	-37.58%	0.00%	-31.18%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-84	-76	-59	-78	-76	-66	-74	-71	-68	-58	-69
NOPAT Margin	-44.14%	-37.99%	-27.81%	-35.88%	-32.28%	-26.20%	-28.35%	-26.12%	-23.91%	-19.54%	-22.05%
Net Nonoperating Expense Percent (NNEP)	-2.43%	-2.03%	-4.21%	-1.90%	-1.75%	-1.10%	-1.72%	0.40%	-1.71%	-0.98%	-1.11%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-3.12%	-	-	-	-3.61%	-3.34%	-3.13%	-2.63%	-3.06%
Cost of Revenue to Revenue	30.60%	28.25%	26.76%	28.18%	27.65%	25.46%	25.87%	25.49%	26.27%	25.78%	25.30%
SG&A Expenses to Revenue	19.20%	15.92%	15.92%	17.70%	16.78%	15.78%	15.07%	14.80%	14.06%	13.50%	16.71%
R&D to Revenue	45.26%	45.58%	40.79%	44.91%	45.13%	41.06%	43.98%	43.08%	42.94%	40.79%	38.73%
Operating Expenses to Revenue	132.46%	126.02%	112.96%	123.08%	118.46%	111.97%	114.63%	111.83%	107.89%	102.13%	106.20%
Earnings before Interest and Taxes (EBIT)	-102	-91	-63	-91	-86	-71	-86	-81	-75	-65	-80
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-97	-86	-57	-83	-76	-60	-73	-66	-59	-46	-60
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	13.73	11.35	8.89	11.12	10.74	7.04	9.54	7.64	7.98	6.10	9.05
Price to Tangible Book Value (P/TBV)	14.61	12.05	9.54	11.89	11.45	8.64	11.62	9.17	9.51	7.20	10.59
Price to Revenue (P/Rev)	15.29	12.23	9.27	11.46	10.84	7.18	9.52	7.69	7.97	6.13	9.07
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	44,069.34	2,260.45	0.00	311.68	259.70	34.99	58.48	34.71	35.19	26.46	45.56
Enterprise Value to Revenue (EV/Rev)	14.17	11.15	8.23	10.46	9.87	6.34	8.67	6.89	7.17	5.33	8.25
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	554.06	249.62	214.51	181.09	103.38	149.68
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.43	1.38	1.34	1.29	1.25	1.17	1.14	1.07	1.03	0.98	0.94
Long-Term Debt to Equity	1.43	1.38	1.34	1.29	1.25	1.17	1.14	1.07	1.03	0.98	0.94
Financial Leverage	-1.05	-1.04	-1.05	-1.00	-0.98	-0.90	-0.92	-0.88	-0.87	-0.81	-0.83
Leverage Ratio	2.99	2.97	3.04	2.98	2.97	2.88	2.91	2.75	2.76	2.67	2.67
Compound Leverage Factor	2.99	2.97	3.04	2.98	2.97	2.88	2.91	2.75	2.76	2.67	2.67
Debt to Total Capital	58.79%	57.95%	57.32%	56.31%	55.51%	53.87%	53.19%	51.60%	50.70%	49.46%	48.39%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	58.79%	57.95%	57.32%	56.31%	55.51%	53.87%	53.19%	51.60%	50.70%	49.46%	48.39%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	41.21%	42.05%	42.68%	43.69%	44.49%	46.13%	46.81%	48.40%	49.30%	50.54%	51.61%
Debt to EBITDA	-2.45	-2.52	-2.82	-3.37	-3.61	-3.95	-3.74	-3.97	-4.24	-4.49	-4.74
Net Debt to EBITDA	1.72	1.82	2.11	2.53	2.78	2.78	2.80	2.99	3.28	3.67	4.14
Long-Term Debt to EBITDA	-2.45	-2.52	-2.82	-3.37	-3.61	-3.95	-3.74	-3.97	-4.24	-4.49	-4.74
Debt to NOPAT	-2.99	-3.05	-3.25	-3.67	-3.77	-3.92	-3.72	-3.82	-3.94	-4.05	-4.12
Net Debt to NOPAT	2.09	2.20	2.42	2.75	2.91	2.76	2.79	2.88	3.05	3.31	3.60
Long-Term Debt to NOPAT	-2.99	-3.05	-3.25	-3.67	-3.77	-3.92	-3.72	-3.82	-3.94	-4.05	-4.12
Altman Z-Score	4.16	3.56	2.78	3.63	3.47	2.39	3.18	2.82	2.91	2.35	3.50
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.05	4.98	4.62	5.07	4.44	4.24	3.99	4.42	3.98	4.01	3.83
Quick Ratio	4.81	4.72	4.38	4.80	4.21	4.00	3.78	4.18	3.75	3.77	3.59
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-162	-152	-130	-125	-109	-228	-219	-245	-252	-117	-138
Operating Cash Flow to CapEx	-473.37%	-225.21%	225.95%	-453.35%	146.06%	248.77%	578.27%	-429.09%	254.78%	495.51%	638.64%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.29	0.31	0.32	0.35	0.36	0.37	0.37	0.40	0.40	0.41	0.41
Accounts Receivable Turnover	4.05	4.49	3.81	4.44	3.88	3.96	3.54	4.09	3.46	3.51	3.31
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	20.91	19.90	18.70	16.89	15.68	15.12	14.52	14.20	13.85	13.71	13.58
Accounts Payable Turnover	24.82	27.91	16.32	37.76	29.16	28.21	36.15	67.48	21.55	21.10	21.24
Days Sales Outstanding (DSO)	90.21	81.29	95.87	82.25	94.07	92.06	103.08	89.27	105.42	104.12	110.28
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	14.71	13.08	22.37	9.67	12.52	12.94	10.10	5.41	16.94	17.30	17.18
Cash Conversion Cycle (CCC)	75.50	68.21	73.50	72.58	81.56	79.12	92.98	83.86	88.48	86.82	93.10
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.22	3.61	-2.04	28	33	166	143	202	217	224	211
Invested Capital Turnover	-17.52	-21.33	-20.75	205.95	52.27	10.80	13.69	8.87	8.52	5.71	6.59
Increase / (Decrease) in Invested Capital	79	76	71	47	33	162	145	174	184	58	68
Enterprise Value (EV)	9,695	8,169	6,392	8,579	8,545	5,809	8,352	7,006	7,639	5,931	9,621
Market Capitalization	10,456	8,955	7,204	9,396	9,386	6,577	9,171	7,829	8,486	6,826	10,579
Book Value per Share	$2.57	$2.61	$2.63	$2.69	$2.75	$2.90	$2.93	$3.07	$3.12	$3.25	$3.34
Tangible Book Value per Share	$2.42	$2.46	$2.45	$2.52	$2.58	$2.36	$2.41	$2.56	$2.62	$2.75	$2.85
Total Capital	1,848	1,876	1,899	1,934	1,964	2,026	2,053	2,118	2,158	2,214	2,265
Total Debt	1,086	1,087	1,088	1,089	1,090	1,091	1,092	1,093	1,094	1,095	1,096
Total Long-Term Debt	1,086	1,087	1,088	1,089	1,090	1,091	1,092	1,093	1,094	1,095	1,096
Net Debt	-761	-785	-812	-818	-841	-768	-818	-823	-847	-895	-958
Capital Expenditures (CapEx)	6.14	4.02	5.42	5.73	5.88	6.28	6.09	6.24	7.11	6.22	6.59
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-131	-140	-136	-120	-144	-128	-148	-104	-112	-114	-128
Debt-free Net Working Capital (DFNWC)	1,716	1,733	1,765	1,787	1,787	1,731	1,762	1,813	1,829	1,876	1,926
Net Working Capital (NWC)	1,716	1,733	1,765	1,787	1,787	1,731	1,762	1,813	1,829	1,876	1,926
Net Nonoperating Expense (NNE)	20	17	35	15	14	8.58	14	-3.25	14	8.19	9.83
Net Nonoperating Obligations (NNO)	-761	-785	-812	-818	-841	-768	-818	-823	-847	-895	-958
Total Depreciation and Amortization (D&A)	4.67	5.19	5.83	7.63	10	11	13	15	17	19	19
Debt-free, Cash-free Net Working Capital to Revenue	-19.19%	-19.14%	-17.52%	-14.64%	-16.65%	-14.01%	-15.41%	-10.18%	-10.52%	-10.20%	-10.93%
Debt-free Net Working Capital to Revenue	250.93%	236.55%	227.12%	217.95%	206.45%	189.08%	182.86%	178.17%	171.73%	168.55%	165.11%
Net Working Capital to Revenue	250.93%	236.55%	227.12%	217.95%	206.45%	189.08%	182.86%	178.17%	171.73%	168.55%	165.11%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.35)	($0.30)	($0.30)	($0.30)	($0.28)	($0.23)	($0.26)	($0.20)	($0.24)	($0.19)	($0.23)
Adjusted Weighted Average Basic Shares Outstanding	297.83M	303.90M	300.73M	314.20M	319.42M	324.32M	321.86M	335.76M	341.21M	346.20M	343.80M
Adjusted Diluted Earnings per Share	($0.35)	($0.30)	($0.30)	($0.30)	($0.28)	($0.23)	($0.26)	($0.20)	($0.24)	($0.19)	($0.23)
Adjusted Weighted Average Diluted Shares Outstanding	297.83M	303.90M	300.73M	314.20M	319.42M	324.32M	321.86M	335.76M	341.21M	346.20M	343.80M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	302.42M	307.88M	312.62M	317.83M	322.72M	327.99M	334.02M	340.39M	344.74M	349.82M	357.64M
Normalized Net Operating Profit after Tax (NOPAT)	-83	-76	-59	-78	-76	-66	-74	-71	-68	-58	-69
Normalized NOPAT Margin	-43.80%	-37.80%	-27.81%	-35.88%	-32.28%	-26.20%	-28.35%	-26.12%	-23.91%	-19.54%	-22.05%
Pre Tax Income Margin	-53.76%	-45.51%	-29.51%	-41.66%	-36.81%	-28.44%	-33.11%	-29.79%	-26.69%	-21.76%	-25.30%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-0.07%	-0.06%	0.00%	-0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Here are notable trends for Confluent (CFLT) based on the last four years of quarterly statements. The focus is on revenue, cash, profitability, and balance sheet/leverage trends that matter to investors.

Revenue growth trend: Operating revenue rose over the period, with 2025 Q4 at about $314.8 million, up from about $168.7 million in 2022 Q4. Quarterly progression in 2025 shows a steady ramp (Q1 2025 ~ $271.1M → Q4 2025 ~ $314.8M).
Strong liquidity position: As of 2025 Q3, cash and short-term investments totaled roughly $1.99 billion, with long-term debt around $1.10 billion, yielding a positive net cash position and substantial liquidity to fund growth or weather downturns.
Improving operating cash flow (OCF): Cash flow from continuing operations has been positive in most quarters since 2024, including about $42.1 million in 2025 Q4 and $35.2 million in 2024 Q4, signaling better cash generation despite ongoing losses.
Healthy gross margin: Gross margin has remained in the mid-70s percentile (e.g., Q4 2025 gross profit of ~$235.2M on ~$314.8M revenue, roughly 75% margin), indicating efficient core operations even as the company scales.
Latest-quarter free cash flow positive: In 2025 Q4, free cash flow was roughly $24 million (OCF about $42M minus investing cash outflow), suggesting cash generation after capital expenditures.
Equity issuance and dilution risk: Shares outstanding rose modestly across 2025 (e.g., weighted-average basic shares around 343–347 million), reflecting some equity financing activity that could dilute per-share metrics.
Investing activity is lumpy: Cash used for investments fluctuates, with sizable purchases of investments in several quarters (e.g., large negative cash flows from investing in multiple periods, offset by occasional sales), creating uneven cash usage.
Persistent net losses: Net income attributable to common shareholders remained negative across quarters (e.g., Q4 2025: about -$79.25M; Q3 2025: around -$66.5M), indicating ongoing profitability challenges despite revenue growth.
Ongoing high operating expenses vs. revenue: Total operating expenses consistently outpaced gross profit in presses, contributing to operating losses (e.g., Q4 2025: operating expenses ~$334.3M vs gross profit ~$235.2M; operating income about -$99.2M).
Balance sheet pressure from accumulated deficits: Retained earnings are deeply negative (e.g., around -$2.2B in some 2025 periods), underscoring a long-running deficit that weighs on per-share value despite liquidity and revenue growth.

05/22/26 12:40 AM ETAI Generated. May Contain Errors.

Confluent Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Confluent's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Confluent's net income appears to be on an upward trend, with a most recent value of -$295.28 million in 2025, rising from -$95.04 million in 2019. The previous period was -$345.07 million in 2024. Check out Confluent's forecast to explore projected trends and price targets.

Confluent's total operating income in 2025 was -$380.10 million, based on the following breakdown:

Total Gross Profit: $866.84 million
Total Operating Expenses: $1.25 billion

Over the last 6 years, Confluent's total revenue changed from $149.81 million in 2019 to $1.17 billion in 2025, a change of 678.8%.

Confluent's total liabilities were at $1.82 billion at the end of 2025, a 4.8% increase from 2024, and a 604.7% increase since 2020.

In the past 5 years, Confluent's cash and equivalents has ranged from $36.79 million in 2020 to $1.38 billion in 2021, and is currently $347.21 million as of their latest financial filing in 2025.

Over the last 6 years, Confluent's book value per share changed from 0.00 in 2019 to 3.34 in 2025, a change of 334.2%.

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Financial statements for NASDAQ:CFLT last updated on 2/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Confluent (CFLT) Financials

Financials Breakdown Chart

Key Financial Trends

Confluent Financials - Frequently Asked Questions

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Confluent (CFLT) Financials

Annual Income Statements for Confluent

Quarterly Income Statements for Confluent

Annual Cash Flow Statements for Confluent

Quarterly Cash Flow Statements for Confluent

Annual Balance Sheets for Confluent

Quarterly Balance Sheets for Confluent

Annual Metrics And Ratios for Confluent

Quarterly Metrics And Ratios for Confluent

Financials Breakdown Chart

Key Financial Trends

Confluent Financials - Frequently Asked Questions

When does Confluent's financial year end?

How has Confluent's net income changed over the last 6 years?

What is Confluent's operating income?

How has Confluent's revenue changed over the last 6 years?

How much debt does Confluent have?

How much cash does Confluent have?

How has Confluent's book value per share changed over the last 6 years?

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