Informatica Provides Business and Financial Updates

Informatica (NYSE: INFA), (the “Company”), an enterprise cloud data management leader, today provided the following business and financial updates.

The Company announced today it is updating its first quarter 2024, ended March 31, 2024, financial outlook. The Company expects GAAP Total Revenues, Subscription ARR, Cloud Subscription ARR and Non-GAAP Operating Income to be all within the upper half of the guidance ranges previously provided by the Company in its February 14, 2024, earnings press release. In addition, the Company expects to report Adjusted Unlevered Free Cash Flow (after-tax) that significantly exceeds 100% of Non-GAAP Operating Income. The Company also reaffirmed its full-year 2024 financial outlook. First quarter 2024 financial results will be released on May 1, 2024, after market close, as previously announced.

“Our business fundamentals continue to be very strong and we look forward to discussing our first quarter financial results and outlook on May 1,” said Amit Walia, CEO of Informatica.

In addition, on April 12, 2024, The Wall Street Journal published a story that the Company was in advanced talks to be acquired, according to sources familiar with the matter. Although Informatica’s policy is not to comment on market rumors or media speculation, the Company announced that it is not currently engaged in any discussions to be acquired.

The Company also announced that Jitesh Ghai, Executive Vice President and Chief Product Officer, is resigning to pursue an executive opportunity at another company. “On behalf of the Informatica team, I thank Jitesh for his many contributions,” continued Mr. Walia. “We wish Jitesh all the best in this exciting next step of his career.”

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to expectations of operating results or financial performance for the first quarter and full-year of fiscal 2024. Forward-looking statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control, that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These risks, uncertainties, assumptions, and other factors include, but are not limited to, completion of closing accounting books for the quarter and potential quarter-end adjustments, those related to our business and financial performance, the effects of adverse global macroeconomic conditions and geopolitical uncertainty, the effects of public health crises on our business, results of operations, and financial condition, our ability to attract and retain customers, our ability to develop new products and services and enhance existing products and services, our ability to respond rapidly to emerging technology trends, our ability to execute on our business strategy, including our strategy related to the Informatica IDMC platform and key partnerships, our ability to increase and predict customer consumption of our platform, our ability to compete effectively, and our ability to manage growth. Further information on these and additional risks, uncertainties, and other factors that could cause actual outcomes and results to differ materially from those included in or contemplated by the forward-looking statements contained in this release are included under the caption “Risk Factors” and elsewhere in our Annual Report on Form 10-K that was filed for the fiscal year ended December 31, 2023, and other filings and reports we make with the Securities and Exchange Commission from time to time. All forward-looking statements contained herein are based on information available to us as of the date hereof and we do not assume any obligation to update these statements as a result of new information or future events.