This article highlights key data takeaways for Confluent based on ETR's APR24 Technology Spending Intentions Survey (TSIS) ahead of their earnings report next week. ETR assigned a Positive outlook on the dataset in APR24. Reach out if you're interested in seeing the full April 2024 TSIS report on Confluent or in starting a free trial to access all of ETR's data and research.
Confluent is seeing sequential improvements in Net Score among Fortune 500 and Global 2000 organizations in ETR's APR24 survey, driven by fewer plans to decrease spend and higher expansion rates. By industry vertical, Financials/Insurance and IT/Telco organizations indicated the largest increase in Net Scores from JAN24, with IT/Telco organizations improving further Y/Y, now up 18 ppts from APR23.
Among Fortune 500 organizations Adopting or Increasing spend with the big three cloud providers, Confluent’s shared Net Score improved by 15.5 ppts from JAN24 and is also now above levels captured in APR23. Notably, Confluent received 62 Fortune 500 citations in total, and 54 of those customers intended to spend more on AWS, Azure, and GCP in 2024. Confluent’s shared Net Score (42.6%) is higher among these customers vs. its survey Net Score (35%, demonstrating the strong positioning of Confluent’s Cloud Platform.
Among Infrastructure - Software peers, Confluent's Net Score stands at the 83rd percentile, trailing only Microsoft in its competitor group and leading SAP, Red Hat (IBM), and Oracle. Further, Pervasion in our sample is growing s/s and y/y for Confluent as the vendor sees a higher customer count in large enterprises.
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