-
Names Michael McLaughlin as Chief Financial Officer; Current CFO Eric Brown to Step Down
-
Reaffirms Fourth Quarter and Full-Year 2022 Financial Outlook
-
Schedules Fourth Quarter and Full-Year 2022 Earnings Conference Call for February 8, 2023
Informatica, an enterprise cloud data management leader, announced the appointment of Michael McLaughlin, a seasoned finance leader and most recently Chief Financial Officer of FICO, as Informatica’s Executive Vice President and Chief Financial Officer effective January 16, 2023. McLaughlin succeeds Eric Brown, who has notified the Informatica Board of Directors of his intention to step down to pursue other opportunities. Brown’s departure follows more than four years as Informatica’s Chief Financial Officer. Brown will remain a consultant to the company through March 31, 2023, to support a seamless transition.
“On behalf of Informatica, I would like to thank Eric for his leadership and stewardship over the past four years,” said Amit Walia, Chief Executive Officer of Informatica. “He played an instrumental role in driving our successful public listing, our transition to a SaaS operating model, and setting the foundation for our leadership in cloud. We wish him well in all future endeavors.”
“It’s been a privilege to have played a key part in the evolution of Informatica. I am excited about the strong financial position that I leave Informatica in and have tremendous confidence in the team, its long-term strategy, and its future growth opportunities,” said Brown.
Marketing Technology News: Apostle Launches New Marketing Category to Help Organizations Grow
McLaughlin joins Informatica from FICO, where he has served as Executive Vice President and Chief Financial Officer since August 2019. At FICO, McLaughlin led the global finance team responsible for FICO’s Software and Scores business segments. Prior to FICO, McLaughlin spent 26 years in investment banking, advising leading technology, financial services and real estate companies on a wide range of strategic and financial topics, most recently serving as Managing Director and Head of Technology Corporate Finance at Morgan Stanley. He holds a B.A. from Stanford University and a Masters of Public and Private Management from the Yale School of Management.
Walia continued, “We’re thrilled to welcome Michael to the Informatica team. He is a well-rounded and deeply experienced leader with extensive financial experience, and I’m confident that his expertise will help us deliver value for our customers, as we help them tackle their greatest cloud data management challenges, and our shareholders.”
“I am honored to step into this role and to support Informatica’s continued transformation to a cloud-only company,” said McLaughlin. “The company has significant momentum and I look forward to working together with my talented new colleagues to capitalize on the remarkable growth opportunities ahead.”
Fourth Quarter and Full-Year 2022 Financial Outlook and Conference Call
Informatica also today reaffirmed its guidance for the fourth quarter and full-year 2022, which was previously provided on October 26, 2022.
Fourth Quarter 2022 ending December 31, 2022:
- GAAP Total Revenues are expected to be in the range of $398 million to $408 million.
- Subscription ARR is expected to be in the range of $980 million to $990 million.
- Cloud ARR is expected to be in the range of $425 million to $431 million.
- Non-GAAP Operating Income is expected to be in the range of $93 million to $103 million.
Full-Year 2022 ending December 31, 2022:
- GAAP Total Revenues are expected to be in the range of $1,505 million to $1,515 million.
- Total ARR is expected to be in the range of $1,505 million to $1,521 million.
- Subscription ARR is expected to be in the range of $980 million to $990 million.
- Cloud ARR is expected to be in the range of $425 million to $431 million.
- Non-GAAP Operating Income is expected to be in the range of $330 million to $340 million.
- Unlevered Free Cash Flow (after-tax) is expected to be in the range of $290 million to $310 million.
Informatica will report financial results for the fourth quarter and full-year 2022 following the close of the U.S. markets on Wednesday, February 8, 2023. Informatica will hold a conference call on the same day at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) to discuss its results. The conference call can be accessed by dialing (844) 200-6205 from the United States or (929) 526-1599 internationally with access code 830565.
Marketing Technology News: MarTech Interview With Richard Jones, Chief Revenue Officer at Wunderkind
