Informatica, a leading software development company, has recently revised its financial forecast for the first quarter. With expectations set high, the company anticipates that GAAP total revenues, Subscription ARR, cloud subscription ARR, and non-GAAP operating income will all fall in the upper half of previously predicted ranges. Additionally, it's projected that their adjusted unlevered free cash flow after-tax will considerably surpass 100% of non-GAAP operating income.
Informatica remains confident about the financial outlook for the full-year of 2024. The financial results for the first quarter of 2024 will be publically released after the close of the market on May 1, 2024.
In other news, despite rumors suggesting the contrary, the company confirmed that it is not currently involved in any negotiations regarding a potential acquisition. A recent article in The Wall Street Journal speculated advanced talks surrounding an acquisition of the company.
Lastly, Informatica announced that Jitesh Ghai, the Executive Vice President and Chief Product Officer, has chosen to resign from his role.
