By Sabela Ojea
Informatica logged a drop in its topline performance in the fourth quarter after getting hit by lower subscription license revenue.
The stock was down 25% to $19 in post-market trading. Through Thursday's close, shares are down 2.9% year to date.
The provider of cloud-based data management software on Thursday posted a net profit of $9.8 million, or 3 cents a share, compared with $64.3 million, or 21 cents a share, for the same period a year earlier.
Stripping out one-time items, the company's earnings per share came in at 41 cents. Analysts polled by FactSet has forecast adjusted earnings of 37 cents a share.
Quarterly revenue fell 3.8% to $428.3 million, missing the $456.7 million expected by Wall Street. The company saw lower renewal rates of self-managed subscriptions, and a decline in the average duration of those self-managed subscription renewals.
"Although we encountered unexpected headwinds in the fourth quarter, we're entering 2025 with strong fundamentals and clear line of sight to reaching $1 billion in cloud Subscription annual recurring revenue by the end of the year," Chief Executive Amit Walia said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 13, 2025 17:34 ET (22:34 GMT)
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