Informatica Announces New Integrations with Amazon Bedrock AgentCore, Empowering the Agentic Enterprise with Unified, Intelligent Data to build Trusted AI Agents and Applications
Informatica recognized with multiple 2025 AWS Partner Awards
Informatica introduces new Model Context Protocol servers for Amazon Bedrock AgentCore, CLAIRE® AI integration with Anthropic Claude via Amazon Bedrock and Agentic Blueprint for enterprises at AWS re:Invent 2025
REDWOOD CITY, Calif., December 2, 2025 – Informatica from Salesforce, a leader in enterprise AI-powered cloud data management, today unveiled new advancements at AWS re:Invent 2025 that deepen the integration between Informatica’s Intelligent Data Management Cloud (IDMC) platform and Amazon Web Services (AWS). These updates give customers a stronger foundation to build enterprise-grade AI agents powered by trusted, high-quality and well-governed data.
Additionally, Informatica was also recognized as the recipient of two 2025 Geography and Global AWS Partner Awards: Industry Partner of the Year - Healthcare & Life Sciences (HCLS) - Technology | Global and Sustainability Partner of the Year (Nomination-Based Award) | Global. Announced during the Partner Awards Gala at AWS re:Invent 2025, this recognition highlights Informatica’s commitment to driving measurable business outcomes for customers through innovation, sustainability, and collaboration with AWS.
Informatica MCP Servers for Building Agents on Amazon Bedrock AgentCore
Informatica introduced new Model Context Protocol (MCP) servers that enable enterprises to build autonomous AI agents in Amazon Bedrock AgentCore using Informatica’s trusted data management services, including data integration, governance and quality.
With these MCP servers, developers can extend Informatica’s IDMC into Amazon Bedrock AgentCore, providing enterprise-ready data management capabilities to any agent. Customers can now design agents that connect to, interpret and act on governed data in near real-time, improving accuracy, traceability and compliance in AI-driven operations.
Informatica also achieved AWS Agentic AI Specialization, a category launched within AWS AI Competency. This specialization recognizes Informatica as an AWS Partner enabling customers to deploy smart, self-operating AI systems that can think, plan and work independently to execute complex business processes.
CLAIRE® AI Engine Integration with Anthropic Claude through Amazon Bedrock
Informatica’s CLAIRE® AI Engine now leverages Anthropic’s Claude models through Amazon Bedrock, bringing advanced reasoning, semantic parsing and natural language understanding to Informatica’s agentic services.
This integration enhances CLAIRE®’s ability to support intelligent agents across data integration, data quality, governance and Master Data Management (MDM). With Anthropic Claude via Amazon Bedrock, CLAIRE® Agents can perform complex tasks such as schema grounding, SQL optimization and semantic query generation, accelerating how enterprises manage, access and trust their data.
Blueprint for Enterprise Agents on Amazon Bedrock AgentCore
Informatica also unveiled the next evolution of its Enterprise Agent Blueprint, a prescriptive framework that helps customers and partners design, optimize, scale and implement agentic AI systems on Amazon Bedrock AgentCore.
The blueprint leverages Informatica’s pre-built connectors, MCP servers and a rich API layer for critical data management functions. It offers customers a clear path to deliver enterprise-grade, trusted and scalable autonomous agents that meet the most stringent governance, security and performance standards.
General Availability of CDI Connector for Amazon SageMaker Lakehouse
Informatica announced the general availability of its Cloud Data Integration (CDI) connector for Amazon SageMaker Lakehouse, giving customers the ability to ingest data from more than 300 sources and rapidly build no-code, low-code pipelines for machine learning, generative AI and analytics.
With support for Apache Iceberg, the connector provides open, interoperable access to large-scale datasets, simplifying how data scientists and engineers prepare, transform and operationalize data across AWS analytics and AI environments.
“As AI becomes more autonomous, the quality and governance of the underlying data become critical,” said Krish Vitaldevara, Chief Product Officer at Informatica. “Our collaboration with AWS empowers customers to confidently build intelligent, compliant agents with the best of Amazon Bedrock AgentCore and Informatica’s enterprise data management expertise. Being recognized with two AWS Partner Awards further underscores the impact we’re driving for customers.”
“We selected Informatica on AWS as part of a best-in-breed approach. We were impressed by its strong product vision and its AI-powered capabilities that align perfectly with our long-term roadmap,” said Benoit Abadie, Group Deputy CIO, Emeria Group. “Informatica’s cloud platform gives us the trusted, high-quality data foundation we need to explore new opportunities in automation and AI accelerating innovation and improving decision-making across the Emeria Group.”
“As enterprises begin exploring agentic AI, they need trusted data foundations to power these intelligent agents and deliver real business value,” said Rahul Pathak, Vice President of Data and AI GTM at AWS. “Through our collaboration with Informatica, customers can now seamlessly connect their enterprise data from Informatica's Intelligent Data Management Cloud platform to Amazon Bedrock AgentCore. This allows them to build agents that are secure, context-aware, and ready to drive innovation at scale."
Together, these innovations reflect Informatica’s deepening collaboration with AWS to help enterprises transition from AI experimentation to AI at scale. Informatica’s trusted data foundation, powered by CLAIRE® and offering integrations within Amazon Bedrock, provides the intelligence, governance and scalability required to deliver responsible, high-impact agentic AI across the enterprise.
Visit Informatica at AWS re:Invent Booth #1633, read this blog on the Informatica website or learn more about these innovations at www.informatica.com/aws.
This article may include references to services or features that are still in development and are unreleased.
Customers should make their purchase decision based on fully released and available features.
About Informatica
Informatica from Salesforce is a leader in enterprise AI-powered cloud data management. Informatica helps organizations connect, manage, and unify their AI-ready data through its data catalog, data integration, governance, quality and privacy, metadata management, and Master Data Management (MDM) capabilities. Informatica continues to support and integrate with a broad ecosystem of partners while helping customers unlock the full value of their data and AI.
About Salesforce
Salesforce is the #1 AI CRM, empowering companies to connect with their customers in a whole new way through the power of artificial intelligence, data, and trust. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.
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Contact:
Informatica Public Relations
pr@informatica.com
INFORMATICA INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
| Three Months Ended June 30, |
| Six Months Ended June 30, | ||||
| 2025 |
| 2024 |
| 2025 |
| 2024 |
|
|
|
|
|
|
|
|
Revenues: |
|
|
|
|
|
|
|
Subscription revenue | $ 287,034 |
| $ 264,306 |
| $ 571,044 |
| $ 516,304 |
Maintenance and professional services | 120,310 |
| 136,319 |
| 240,197 |
| 272,928 |
Total revenues | 407,344 |
| 400,625 |
| 811,241 |
| 789,232 |
Cost of revenues: |
|
|
|
|
|
|
|
Subscription costs | 53,606 |
| 47,367 |
| 107,351 |
| 94,210 |
Maintenance and professional services costs | 27,171 |
| 34,501 |
| 53,907 |
| 68,379 |
Amortization of acquired technology | 538 |
| 1,027 |
| 1,069 |
| 2,061 |
Total cost of revenues | 81,315 |
| 82,895 |
| 162,327 |
| 164,650 |
Gross profit | 326,029 |
| 317,730 |
| 648,914 |
| 624,582 |
Operating expenses: |
|
|
|
|
|
|
|
Research and development | 88,240 |
| 79,234 |
| 170,213 |
| 158,888 |
Sales and marketing | 155,491 |
| 147,453 |
| 297,603 |
| 284,886 |
General and administrative | 57,377 |
| 48,962 |
| 97,559 |
| 99,408 |
Amortization of intangible assets | 25,010 |
| 31,718 |
| 49,801 |
| 63,457 |
Restructuring | — |
| 899 |
| — |
| 5,254 |
Total operating expenses | 326,118 |
| 308,266 |
| 615,176 |
| 611,893 |
(Loss) income from operations | (89) |
| 9,464 |
| 33,738 |
| 12,689 |
Interest income | 13,004 |
| 13,765 |
| 26,260 |
| 27,172 |
Interest expense | (29,552) |
| (38,333) |
| (59,009) |
| (77,430) |
Other (expense) income, net | (18,819) |
| 851 |
| (34,485) |
| 7,186 |
Loss before income taxes | (35,456) |
| (14,253) |
| (33,496) |
| (30,383) |
Income tax benefit | (30,807) |
| (19,081) |
| (30,187) |
| (44,545) |
Net (loss) income | $ (4,649) |
| $ 4,828 |
| $ (3,309) |
| $ 14,162 |
Net (loss) income per share attributable to Class A and Class B-1 common stockholders: |
|
|
|
|
|
|
|
Basic | $ (0.02) |
| $ 0.02 |
| $ (0.01) |
| $ 0.05 |
Diluted | $ (0.02) |
| $ 0.02 |
| $ (0.01) |
| $ 0.05 |
Weighted-average shares used in computing net (loss) income per share: |
|
|
|
|
|
|
|
Basic | 302,949 |
| 300,930 |
| 302,811 |
| 298,913 |
Diluted | 302,949 |
| 314,934 |
| 302,811 |
| 313,716 |
CONSOLIDATED BALANCE SHEETS
(in thousands, except par value data)
(Unaudited)
| June 30, |
| December 31, |
| 2025 |
| 2024 |
Assets |
|
|
|
Current assets: |
|
|
|
Cash and cash equivalents | $ 1,052,275 |
| $ 912,460 |
Short-term investments | 246,299 |
| 319,951 |
Accounts receivable, net of allowances of $3,422 and $6,618, respectively | 332,600 |
| 509,826 |
Contract assets, net | 60,196 |
| 60,343 |
Prepaid expenses and other current assets | 243,053 |
| 184,939 |
Total current assets | 1,934,423 |
| 1,987,519 |
Property and equipment, net | 137,365 |
| 138,999 |
Operating lease right-of-use-assets | 53,490 |
| 48,438 |
Goodwill | 2,391,833 |
| 2,326,831 |
Customer relationships intangible asset, net | 510,199 |
| 550,404 |
Other intangible assets, net | 4,873 |
| 5,681 |
Deferred tax assets | 19,025 |
| 18,267 |
Other assets | 203,511 |
| 203,393 |
Total assets | $ 5,254,719 |
| $ 5,279,532 |
Liabilities and Stockholders’ Equity |
|
|
|
Current liabilities: |
|
|
|
Accounts payable | $ 20,767 |
| $ 27,155 |
Accrued liabilities | 54,236 |
| 57,696 |
Accrued compensation and related expenses | 103,673 |
| 148,248 |
Current operating lease liabilities | 14,060 |
| 13,686 |
Current portion of long-term debt | 18,750 |
| 18,750 |
Income taxes payable | 2,957 |
| 5,815 |
Deferred revenue | 746,839 |
| 819,367 |
Total current liabilities | 961,282 |
| 1,090,717 |
Long-term operating lease liabilities | 42,665 |
| 37,771 |
Long-term deferred revenue | 11,180 |
| 13,910 |
Long-term debt, net | 1,782,706 |
| 1,790,401 |
Deferred tax liabilities | 5,998 |
| 7,828 |
Long-term income taxes payable | 27,528 |
| 24,276 |
Other liabilities | 38,823 |
| 7,315 |
Total liabilities | 2,870,182 |
| 2,972,218 |
Stockholders’ equity: |
|
|
|
Class A common stock; $0.01 par value per share; 2,000,000 shares authorized as of June 30, 2025 and December 31, 2024; 260,595 and 259,485 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively | 2,607 |
| 2,596 |
Class B-1 common stock; $0.01 par value per share; 200,000 shares authorized as of June 30, 2025 and December 31, 2024; 44,050 shares issued and outstanding as of June 30, 2025 and December 31, 2024 | 440 |
| 440 |
Class B-2 common stock; $0.00001 par value per share; 200,000 shares authorized as of June 30, 2025 and December 31, 2024; 44,050 shares issued and outstanding as of June 30, 2025 and December 31, 2024 | — |
| — |
Additional paid-in-capital | 3,690,869 |
| 3,670,371 |
Accumulated other comprehensive loss | (7,350) |
| (67,383) |
Accumulated deficit | (1,302,029) |
| (1,298,710) |
Total stockholders’ equity | 2,384,537 |
| 2,307,314 |
Total liabilities and stockholders’ equity | $ 5,254,719 |
| $ 5,279,532 |
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
|
| Three Months Ended June 30, |
| Six Months Ended June 30, | ||||
|
| 2025 |
| 2024 |
| 2025 |
| 2024 |
|
|
|
|
|
|
|
|
|
Operating activities: |
|
|
|
|
|
|
|
|
Net (loss) income |
| $ (4,649) |
| $ 4,828 |
| $ (3,309) |
| $ 14,162 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: |
|
|
|
|
|
|
|
|
Depreciation and amortization |
| 3,504 |
| 3,873 |
| 6,800 |
| 6,066 |
Non-cash operating lease costs |
| 3,124 |
| 3,433 |
| 7,104 |
| 7,335 |
Stock-based compensation |
| 70,392 |
| 65,499 |
| 130,570 |
| 129,600 |
Deferred income taxes |
| 1,806 |
| (745) |
| (1,235) |
| (1,576) |
Amortization of intangible assets and acquired technology |
| 25,548 |
| 32,745 |
| 50,870 |
| 65,518 |
Amortization of debt issuance costs |
| 976 |
| 903 |
| 1,932 |
| 1,790 |
Amortization of investment discount, net of premium |
| (561) |
| (1,408) |
| (1,314) |
| (2,848) |
Debt refinancing costs |
| — |
| 1,366 |
| — |
| 1,366 |
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
Accounts receivable |
| (46,763) |
| (44,290) |
| 185,775 |
| 176,418 |
Prepaid expenses and other assets |
| 6,570 |
| 8,430 |
| 12,868 |
| 8,197 |
Accounts payable and accrued liabilities |
| 24,342 |
| 5,001 |
| (64,019) |
| (92,022) |
Income taxes payable |
| (44,824) |
| (31,305) |
| (50,909) |
| (74,812) |
Deferred revenue |
| (14,889) |
| (23,478) |
| (96,383) |
| (82,700) |
Net cash provided by operating activities |
| 24,576 |
| 24,852 |
| 178,750 |
| 156,494 |
Investing activities: |
|
|
|
|
|
|
|
|
Purchases of property and equipment |
| (1,561) |
| (1,175) |
| (4,708) |
| (1,565) |
Purchases of investments |
| (58,693) |
| (122,558) |
| (234,385) |
| (269,555) |
Maturities of investments |
| 104,000 |
| 52,093 |
| 276,500 |
| 202,032 |
Sales of investments |
| 7,929 |
| — |
| 7,929 |
| — |
Other |
| — |
| — |
| — |
| 1,878 |
Net cash provided by / (used in) investing activities |
| 51,675 |
| (71,640) |
| 45,336 |
| (67,210) |
Financing activities: |
|
|
|
|
|
|
|
|
Payment of debt |
| (4,688) |
| (6,659) |
| (9,376) |
| (11,347) |
Payment of debt refinancing costs |
| — |
| (1,349) |
| — |
| (1,349) |
Proceeds from issuance of debt |
| — |
| 1,971 |
| — |
| 1,971 |
Proceeds from issuance of common stock under employee stock purchase plan |
| — |
| — |
| 14,579 |
| 13,797 |
Payments for dividends related to Class B-2 shares |
| — |
| — |
| (10) |
| (12) |
Payments for repurchases of common stock |
| — |
| — |
| (101,346) |
| — |
Payments for taxes related to net share settlement of equity awards |
| (19,590) |
| (30,848) |
| (48,605) |
| (76,691) |
Proceeds from issuance of shares under equity plans |
| 22,987 |
| 28,860 |
| 23,965 |
| 57,721 |
Net cash used in financing activities |
| (1,291) |
| (8,025) |
| (120,793) |
| (15,910) |
Effect of foreign exchange rate changes on cash and cash equivalents |
| 21,050 |
| (1,790) |
| 36,522 |
| (7,352) |
Net increase (decrease) in cash and cash equivalents |
| 96,010 |
| (56,603) |
| 139,815 |
| 66,022 |
Cash and cash equivalents at beginning of period |
| 956,265 |
| 855,068 |
| 912,460 |
| 732,443 |
Cash and cash equivalents at end of period |
| $ 1,052,275 |
| $ 798,465 |
| $ 1,052,275 |
| $ 798,465 |
Supplemental disclosures: |
|
|
|
|
|
|
|
|
Cash paid for interest |
| $ 30,225 |
| $ 37,922 |
| $ 60,227 |
| $ 75,704 |
Cash paid for income taxes, net of refunds |
| $ 12,128 |
| $ 12,970 |
| $ 21,868 |
| $ 31,843 |
NON-GAAP FINANCIAL MEASURES AND KEY BUSINESS METRICS
(in thousands, except per share data and percentages)
(unaudited)
RECONCILIATIONS OF GAAP TO NON-GAAP
Reconciliation of GAAP net (loss) income to Non-GAAP net income
| Three Months Ended |
| Six Months Ended | ||||
| 2025 |
| 2024 |
| 2025 |
| 2024 |
|
|
|
|
|
|
|
|
| (in thousands) |
| (in thousands) | ||||
GAAP net (loss) income | $ (4,649) |
| $ 4,828 |
| $ (3,309) |
| $ 14,162 |
Stock-based compensation-related charges | 71,886 |
| 68,576 |
| 133,502 |
| 132,677 |
Amortization of intangibles | 25,548 |
| 32,745 |
| 50,870 |
| 65,518 |
Restructuring | — |
| 899 |
| — |
| 5,254 |
Debt refinancing costs | — |
| 1,366 |
| — |
| 1,366 |
Facility impairment | — |
| — |
| 624 |
| — |
Acquisition-related costs | 12,028 |
| 2,403 |
| 12,028 |
| 7,205 |
Sponsor-related costs | — |
| 773 |
| 176 |
| 773 |
Income tax effect | (47,828) |
| (40,358) |
| (67,839) |
| (86,499) |
Non-GAAP net income | $ 56,985 |
| $ 71,232 |
| $ 126,052 |
| $ 140,456 |
|
|
|
|
|
|
|
|
Net (loss) income per share: |
|
|
|
|
|
|
|
Net (loss) income per share—basic | $ (0.02) |
| $ 0.02 |
| $ (0.01) |
| $ 0.05 |
Net (loss) income per share—diluted | $ (0.02) |
| $ 0.02 |
| $ (0.01) |
| $ 0.05 |
Non-GAAP net income per share—basic | $ 0.19 |
| $ 0.24 |
| $ 0.42 |
| $ 0.47 |
Non-GAAP net income per share—diluted | $ 0.18 |
| $ 0.23 |
| $ 0.41 |
| $ 0.45 |
|
|
|
|
|
|
|
|
Share count (in thousands): |
|
|
|
|
|
|
|
Weighted-average shares used in computing net (loss) income per share—basic | 302,949 |
| 300,930 |
| 302,811 |
| 298,913 |
Weighted-average shares used in computing net (loss) income per share—diluted | 302,949 |
| 314,934 |
| 302,811 |
| 313,716 |
Weighted-average shares used in computing Non-GAAP net income per share—basic | 302,949 |
| 300,930 |
| 302,811 |
| 298,913 |
Weighted-average shares used in computing Non-GAAP net income per share—diluted | 308,470 |
| 314,934 |
| 308,515 |
| 313,716 |
Reconciliation of GAAP (loss) income from operations to Non-GAAP income from operations
| Three Months Ended |
| Six Months Ended | ||||
| 2025 |
| 2024 |
| 2025 |
| 2024 |
|
|
|
|
|
|
|
|
| (in thousands) |
| (in thousands) | ||||
GAAP (loss) income from operations | $ (89) |
| $ 9,464 |
| $ 33,738 |
| $ 12,689 |
Stock-based compensation-related charges | 71,886 |
| 68,576 |
| 133,502 |
| 132,677 |
Amortization of intangibles | 25,548 |
| 32,745 |
| 50,870 |
| 65,518 |
Restructuring | — |
| 899 |
| — |
| 5,254 |
Facility impairment | — |
| — |
| 624 |
| — |
Acquisition-related costs | 12,028 |
| 2,403 |
| 12,028 |
| 7,205 |
Sponsor-related costs | — |
| 773 |
| 176 |
| 773 |
Non-GAAP income from operations | $ 109,373 |
| $ 114,860 |
| $ 230,938 |
| $ 224,116 |
|
|
|
|
|
|
|
|
GAAP operating margin (% of total revenue) | 0.0 % |
| 2.4 % |
| 4.2 % |
| 1.6 % |
Non-GAAP operating margin (% of total revenue) | 26.9 % |
| 28.7 % |
| 28.5 % |
| 28.4 % |
NON-GAAP FINANCIAL MEASURES AND KEY BUSINESS METRICS
Adjusted EBITDA Reconciliation
| Three Months Ended |
| Six Months Ended |
| Trailing Twelve Months ("TTM") Ended June 30, | ||||
| 2025 |
| 2024 |
| 2025 |
| 2024 |
| 2025 |
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
| (in thousands) |
| (in thousands) | ||||
GAAP net (loss) income | $ (4,649) |
| $ 4,828 |
| $ (3,309) |
| $ 14,162 |
| $ (7,540) |
Income tax benefit | (30,807) |
| (19,081) |
| (30,187) |
| (44,545) |
| 57,592 |
Interest income | (13,004) |
| (13,765) |
| (26,260) |
| (27,172) |
| (55,525) |
Interest expense | 29,552 |
| 38,333 |
| 59,009 |
| 77,430 |
| 127,643 |
Debt refinancing costs | — |
| 1,366 |
| — |
| 1,366 |
| — |
Other expense (income), net | 18,819 |
| (2,217) |
| 34,485 |
| (8,552) |
| 25,927 |
Stock-based compensation-related charges | 71,886 |
| 68,576 |
| 133,502 |
| 132,677 |
| 263,913 |
Amortization of intangibles | 25,548 |
| 32,745 |
| 50,870 |
| 65,518 |
| 111,097 |
Facility impairment | — |
| — |
| 624 |
| — |
| 624 |
Restructuring | — |
| 899 |
| — |
| 5,254 |
| 7,251 |
Acquisition-related costs | 12,028 |
| 2,403 |
| 12,028 |
| 7,205 |
| 12,392 |
Sponsor-related costs | — |
| 773 |
| 176 |
| 773 |
| 906 |
Depreciation | 3,301 |
| 3,853 |
| 6,605 |
| 6,071 |
| 13,922 |
Adjusted EBITDA | $ 112,674 |
| $ 118,713 |
| $ 237,543 |
| $ 230,187 |
| $ 558,202 |
Adjusted Unlevered Free Cash Flow
| Three Months Ended June 30, |
| Six Months Ended June 30, | ||||
| 2025 |
| 2024 |
| 2025 |
| 2024 |
|
|
|
|
|
|
|
|
| (in thousands, except percentages) |
| (in thousands, except percentages) | ||||
Total GAAP Revenue | $ 407,344 |
| $ 400,625 |
| $ 811,241 |
| $ 789,232 |
Net cash provided by operating activities | $ 24,576 |
| $ 24,852 |
| $ 178,750 |
| $ 156,494 |
Less: Purchases of property and equipment | (1,561) |
| (1,175) |
| (4,708) |
| (1,565) |
Add: Restructuring costs | 652 |
| 2,527 |
| 5,243 |
| 16,473 |
Add: Acquisition related costs | 4,778 |
| 6,682 |
| 4,778 |
| 6,682 |
Add: Sponsor-related costs | 35 |
| 429 |
| 390 |
| 429 |
Adjusted Free Cash Flow (after-tax)(1)(2) | $ 28,480 |
| $ 33,315 |
| $ 184,453 |
| $ 178,513 |
Add: Cash paid for interest | 30,225 |
| 37,922 |
| 60,227 |
| 75,704 |
Adjusted Unlevered Free Cash Flow (after-tax)(1)(2) | $ 58,705 |
| $ 71,237 |
| $ 244,680 |
| $ 254,217 |
|
|
|
|
|
|
|
|
Adjusted Free Cash Flow (after-tax) margin(1)(2) | 7 % |
| 8 % |
| 23 % |
| 23 % |
Adjusted Unlevered Free Cash Flow (after-tax) margin(1)(2) | 14 % |
| 18 % |
| 30 % |
| 32 % |
(1) Includes cash tax payments of $12.1 million and $12.9 million for the three months ended June 30, 2025 and 2024, respectively and $21.8 million and $31.8 million for the six months ended June 30, 2025 and 2024, respectively.
(2) Includes foreign exchange remeasurement (loss) gain of $(13.1) million and $1.9 million for the three months ended June 30, 2025 and 2024, respectively and $(26.4) million and $5.9 million for the six months ended June 30, 2025 and 2024, respectively, primarily from U.S. dollar cash held offshore.
Key Business Metrics
| June 30, | ||
| 2025 |
| 2024 |
|
|
|
|
| (in thousands, except percentages) | ||
Cloud Subscription Annual Recurring Revenue | $ 900,963 |
| $ 702,600 |
Self-managed Subscription Annual Recurring Revenue | 399,177 |
| 493,935 |
Maintenance Annual Recurring Revenue on Perpetual Licenses | 419,548 |
| 471,697 |
Total Annual Recurring Revenue | $ 1,719,688 |
| $ 1,668,232 |
|
|
|
|
Cloud Subscription Net Retention Rate (Global Parent level) | 120 % |
| 126 % |
SUPPLEMENTAL INFORMATION
Additional Business Metrics
| June 30, | ||
| 2025 |
| 2024 |
Maintenance Renewal Rate | 89 % |
| 96 % |
Total Cloud Subscription Annual Recurring Revenue customers | 2,509 |
| 2,340 |
Cloud transactions processed per month in trillions(1) | 128.2 |
| 96.6 |
(1) Total number of cloud transactions processed on our platform per month in trillions, which measures data processed.
Disaggregation of Revenues
| Three Months Ended |
| Six Months Ended | ||||
| 2025 |
| 2024 |
| 2025 |
| 2024 |
| (in thousands) |
| (in thousands) | ||||
Revenues: |
|
|
|
|
|
|
|
Cloud subscription(i) | $ 209,931 |
| $ 161,422 |
| $ 409,866 |
| $ 312,860 |
Self-managed subscription support and other(i) | 40,964 |
| 48,908 |
| 82,460 |
| 97,499 |
Maintenance(ii) | 102,919 |
| 116,482 |
| 206,128 |
| 234,160 |
Total revenue recognized over time | 353,814 |
| 326,812 |
| 698,454 |
| 644,519 |
Self-managed subscription license recognized at a point in time(i)(iii) | 36,139 |
| 53,976 |
| 78,718 |
| 105,945 |
Total subscription and maintenance revenue | 389,953 |
| 380,788 |
| 777,172 |
| 750,464 |
Professional services(ii) | 17,391 |
| 19,837 |
| 34,069 |
| 38,768 |
Total revenues | $ 407,344 |
| $ 400,625 |
| $ 811,241 |
| $ 789,232 |
(i) Included in Subscription revenue on the consolidated statements of operations.
(ii) Included in Maintenance and Professional services revenue on the consolidated statements of operations.
(iii) The Company previously presented Perpetual license revenue separately. Because revenue for perpetual licenses are not material for current or past periods due to our transition to a cloud-only, consumption-driven strategy, the Company has combined these amounts into Self-managed subscription license recognized at a point in time and retrospectively adjusted past periods for comparative purposes.
Revenue recognized over time refers to ratable recognition over the contractual term. Revenue recognized at a point in time refers to recognition upon the later of when the software license is made available or the contractual term commences. Professional services are recognized as services are provided.
Net Debt Reconciliation
| June 30, |
| December 31, |
| 2025 |
| 2024 |
|
|
|
|
| (in millions) | ||
Dollar Term Loan | $ 1,814 |
| $ 1,823 |
Less: Cash, cash equivalents, and short-term investments | (1,299) |
| (1,232) |
Total net debt | $ 515 |
| $ 591 |
