Software is not out of the woods yet!

$Confluent, Inc.(CFLT)$ with some interesting commentary on cloud cost controls picking up recently:

"After the stabilization in Q1 and a healthy start in Q2, we saw increased short-term cloud cost controls and focus on driving efficiencies in this customer cohort in the month of June"

Later on in the call someone asked if these trends continued into July. Here's the response:

"I would say towards the latter half of the quarter, we did see cost efficiencies and focus on just driving some cost efficiencies from some of these customers, which actually continued into the month of July."

Confluent quarter:

- $235m rev (+24% YoY) vs $230m consensus (2% beat)

- $234m next Q subs rev guidance vs $234m consensus

- Held full year guide constant

- 118% DBNR

- 31 months GM adj. CAC payback

- 72% GM

- 1% FCF Margin

Quarterly net new ARR added:

Image

YoY growth in quarterly net new ARR added:

Image

https://twitter.com/jaminball/status/1818792573911416982

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