Informatica's Q1 2024 Financial Outlook and Leadership Change

Informatica (NYSE: INFA) has released its first quarter 2024 financial outlook, announcing that it expects GAAP total revenues, subscription ARR, cloud subscription ARR, and non-GAAP operating income to fall within the upper half of the guidance ranges set in its February 14, 2024 earnings press release. Additionally, the company anticipates reporting adjusted unlevered free cash flow (after-tax) that significantly exceeds 100% of non-GAAP operating income.

The company reaffirmed its full-year 2024 financial outlook and is set to release its first quarter 2024 financial results on May 1, 2024, after the market closes.

Regarding recent rumors, Informatica stated that it is not currently engaged in any discussions to be acquired, countering a story published by The Wall Street Journal on April 12, 2024.

Moreover, the company announced the departure of Jitesh Ghai, the executive vice president and chief product officer, who is resigning to pursue an executive opportunity at another company. Amit Walia, CEO of Informatica, expressed gratitude for Ghai's contributions and wished him success in his future endeavors.

These updates reflect Informatica's continued strength in its business fundamentals, setting the stage for the forthcoming financial results and outlook discussion on May 1, 2024. The market has reacted to these announcements by moving the company's shares -7.1% to a price of $32.67. For more information, read the company's full 8-K submission here.

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