Splunk Inc's Corporate Customers have recorded an advance in their cost of revenue by 2.48 % in the 3 quarter 2023 year on year, sequentially costs of revenue grew by 19.18 %. During the corresponding time, Splunk Inc recorded a revenue increase by 14.69 % year on year, sequentially revenue grew by 17.23 %. While revenue at the Splunk Inc 's corporate clients recorded rose by 0.37 % year on year, sequentially revenue grew by 0.9 %.
Splunk Inc's Customers have recorded an advance in their cost of revenue by 2.48 % in the 3 quarter 2023 year on year, sequentially costs of revenue grew by 19.18 %, for the same period Splunk Inc recorded revenue increase by 14.69 % year on year, sequentially revenue grew by 17.23 %.
Splunk Inc's Comment on Sales, Marketing and Customers
We sell our offerings through direct field sales, direct inside sales and indirect
channel partners. We gather prospects through a broad range of marketing programs
and events, and through users who either download our trial software from our
website or sign up for our online sandboxes or cloud services. Our sales development
teams handle lead qualifications. Large or complex transactions are handled
by our globally distributed direct field sales teams. Our sales engineers help
define customer use cases and pre-sales qualification and evaluation.
We maintain an extensive partner ecosystem, of which many types of partners
contribute to sourcing, co-selling and fulfilling Splunk sales. These partner
types include distributors, resellers and managed service providers. Our channel
assists us by sourcing new prospects through leveraging their deep customer
relationships, providing professional services and support to existing customers,
upselling for additional use cases and maintenance renewals. Our Splunk Partner+
Program is based on providing a simple and predictable business model for our
partners and Splunk. Our channel expands our geographic sales reach worldwide,
across all our sales theaters. The Partner+ Program includes over 1,600 active
partners that span our global system integrators, distributors, value-added
resellers, technology alliance partners, OEMs, professional services and managed
services providers. Of that number, more than 900 partners contribute to sales.
Historically, the majority of EMEA and APAC sales have been fulfilled through
channel partners and we expect this trend to continue.
Our customer base has grown from approximately 450 customers at the end of
fiscal 2008 to over 15,000 customers in more than 110 countries, including more
than 85 of the Fortune 100 companies.
Our current customer base spans numerous industry verticals, including cloud
and online services; education; financial services; government; healthcare/pharmaceuticals;
industrials/manufacturing; media/entertainment; retail/ecommerce; technology
and telecommunications.
Splunk Inc., a leading cybersecurity and observability company, recently announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the HSR Act). This development is in connection with the proposed acquisition of Splunk by Cisco for $157 per share in cash. The waiting period ended on November 13, 2023, clearing the way for the completion of the transaction. However, Splunk Inc. has experienced some challenges in its corporate operating costs. In the second quarter, the company saw a 19.34% deterioration in its costs of revenue compared to the previous year. Sequentially, costs of revenue were trimmed by 0.47%. On the positive side, Splunk reco...
Splunk Inc’s Comment on Sales, Marketing and Customers
We sell our offerings through direct field sales, direct inside sales and indirect
channel partners. We gather prospects through a broad range of marketing programs
and events, and through users who either download our trial software from our
website or sign up for our online sandboxes or cloud services. Our sales development
teams handle lead qualifications. Large or complex transactions are handled
by our globally distributed direct field sales teams. Our sales engineers help
define customer use cases and pre-sales qualification and evaluation.
We maintain an extensive partner ecosystem, of which many types of partners
contribute to sourcing, co-selling and fulfilling Splunk sales. These partner
types include distributors, resellers and managed service providers. Our channel
assists us by sourcing new prospects through leveraging their deep customer
relationships, providing professional services and support to existing customers,
upselling for additional use cases and maintenance renewals. Our Splunk Partner+
Program is based on providing a simple and predictable business model for our
partners and Splunk. Our channel expands our geographic sales reach worldwide,
across all our sales theaters. The Partner+ Program includes over 1,600 active
partners that span our global system integrators, distributors, value-added
resellers, technology alliance partners, OEMs, professional services and managed
services providers. Of that number, more than 900 partners contribute to sales.
Historically, the majority of EMEA and APAC sales have been fulfilled through
channel partners and we expect this trend to continue.
Our customer base has grown from approximately 450 customers at the end of
fiscal 2008 to over 15,000 customers in more than 110 countries, including more
than 85 of the Fortune 100 companies.
Our current customer base spans numerous industry verticals, including cloud
and online services; education; financial services; government; healthcare/pharmaceuticals;
industrials/manufacturing; media/entertainment; retail/ecommerce; technology
and telecommunications.
Sources:
Splunk Inc’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Splunk Inc’s corporate clients.
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