Informatica Reports Third Quarter 2025 Financial Results

REDWOOD CITY, Calif.--( BUSINESS WIRE)--Informatica (NYSE: INFA), a leader in enterprise AI-powered cloud data management, today announced financial results for its third quarter 2025, ended September 30, 2025.

"We delivered another strong quarter with 29.5% year-over-year growth in Cloud Subscription ARR, driven by demand for our AI-powered IDMC platform. Customers continue to choose Informatica to scale their agentic AI initiatives and solve complex business challenges by building on IDMC powered for CLAIRE AI — empowering them to connect trusted, AI-ready data with seamless integration across platforms, enabling faster innovation, smarter operations, and the development of AI systems,” said Amit Walia, Chief Executive Officer at Informatica. “We continued working toward closing the transaction with Salesforce."

Third Quarter 2025 Financial Highlights:

A reconciliation of GAAP to non-GAAP financial measures has been provided in the tables included in this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”

____________________

(1) Constant currency basis is calculated by translating current period revenue using the comparable period's exchange rates from the prior year.

Third Quarter 2025 Business Highlights:

Product Innovation:

Industry Recognition:

Pending Acquisition by Salesforce

In a separate press release issued on May 27, 2025, Informatica announced that it had entered into a definitive agreement, or the Merger Agreement, to be acquired by Salesforce. A copy of the press release and supplemental materials can be found on the “Investor Relations” page of our website at https://investors.informatica.com and on the Securities and Exchange Commission, or the SEC, website at http://www.sec.gov. Additional details and information about the terms and conditions of the Merger Agreement and the transactions contemplated by the Merger Agreement are available in the Current Report on Form 8-K filed with the SEC on May 28, 2025.

In light of the pending transaction with Salesforce, Informatica will not be hosting an earnings conference call to review the third quarter or providing financial guidance in conjunction with this press release. The Merger is expected to close in the fourth quarter of Salesforce's fiscal year 2026 or early in Salesforce’s fiscal year 2027, which begins on February 1, 2026, subject to the receipt of required regulatory clearances and satisfaction of other customary closing conditions set forth in the Merger Agreement. For further detail and discussion of our financial performance, please refer to our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC, and our Quarterly Report on Form 10-Q that will be filed for the third quarter ended September 30, 2025.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, statements regarding Informatica's proposed acquisition by Salesforce, management’s plans, priorities, initiatives, and strategies, the potential benefits realized by customers by the use of artificial intelligence and machine learning in our products and the potential benefits realized by customers from our cloud modernization programs, market, and partnerships. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “toward,” “will,” or “would,” or the negative of these words or other similar terms or expressions. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.

Forward-looking statements are based on information available at the time those statements are made and are based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control, that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. These risks, uncertainties, assumptions, and other factors include, but are not limited to, those related to our business and financial performance, the pending acquisition by Salesforce, the effects of adverse global macroeconomic conditions and geopolitical uncertainty, including tariffs, our ability to attract and retain customers, our ability to develop new products and services and enhance existing products and services, our ability to respond rapidly to emerging technology trends, our ability to execute on our business strategy, including our strategy related to the Informatica IDMC platform and key partnerships, our ability to increase and predict customer consumption of our platform, our ability to compete effectively, and our ability to manage growth.

Further information on these and additional risks, uncertainties, and other factors that could cause actual outcomes and results to differ materially from those included in or contemplated by the forward-looking statements contained in this press release are included under the caption “Risk Factors” and elsewhere in our Annual Report on Form 10-K that was filed for the fiscal year ended December 31, 2024, and other filings and reports we make with the Securities and Exchange Commission from time to time, including our Quarterly Report on Form 10-Q that will be filed for the third quarter ended September 30, 2025. All forward-looking statements contained herein are based on information available to us as of the date hereof and we do not assume any obligation to update these statements as a result of new information or future events.

Non-GAAP Financial Measures and Key Business Metrics

We review several operating and financial metrics, including the following unaudited non-GAAP financial measures and key business metrics to evaluate our business, measure our performance, identify trends affecting our business, formulate business plans, and make strategic decisions:

Non-GAAP Financial Measures

In addition to our results determined in accordance with U.S. generally accepted accounting principles (GAAP), we believe the following non-GAAP measures are useful in evaluating our operating performance. We use the following non-GAAP financial measures to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that these non-GAAP financial measures, when taken collectively, may be helpful to investors because they provide consistency and comparability with past financial performance. However, non-GAAP financial measures are presented for supplemental informational purposes only, have limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. In addition, other companies, including companies in our industry, may calculate similarly titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. A reconciliation is provided below for our non-GAAP financial measures to the most directly comparable financial measures stated in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, and not to rely on any single financial measure to evaluate our business.

Non-GAAP Income from Operations and Operating Margin and Non-GAAP Net Income exclude the effect of stock-based compensation expense-related charges, including employer payroll tax-related items on employee stock transactions, amortization of acquired intangibles, expenses associated with acquisitions, debt refinancing costs, sponsor-related costs, expenses associated with restructuring efforts, and facility impairment, and are adjusted for income tax effects. We believe the presentation of operating results that exclude these non-cash or non-recurring items provides useful supplemental information to investors and facilitates the analysis of our operating results and comparison of operating results across reporting periods.

Adjusted EBITDA represents GAAP net income (loss) as adjusted for income tax benefit (expense), interest income, interest expense, debt refinancing costs, other income (expense) net, stock-based compensation-related charges, including employer payroll tax-related items on employee stock transactions, amortization of intangibles, facility impairment, expenses associated with restructuring efforts, expenses associated with acquisitions, sponsor-related costs and depreciation. We believe adjusted EBITDA is an important metric for understanding our business to assess our relative profitability adjusted for balance sheet debt levels.

Adjusted Unlevered Free Cash Flow (after-tax) represents operating cash flow less purchases of property and equipment and is adjusted for interest payments, sponsor-related costs, expenses associated with acquisitions and restructuring costs (including payments for impaired leases). We believe this measure provides useful supplemental information to investors because it is an indicator of our liquidity over the long term needed to maintain and grow our core business operations.

Key Business Metrics

Annual Recurring Revenue ("ARR") represents the expected annual billing amounts from all active maintenance and subscription agreements. ARR is calculated based on the contract Monthly Recurring Revenue (MRR) multiplied by 12. MRR is calculated based on the accounting adjusted total contract value divided by the number of months of the agreement based on the start and end dates of each contracted line item. The aggregate ARR calculated at the end of each reported period represents the value of all contracts that are active as of the end of the period, including those contracts that have expired but are still under negotiation for renewal. We typically allow for a grace period of up to 6 months past the original contract expiration quarter during which we engage in the renewal process before we report the contract as lost/inactive. This grace-period ARR amount has been approximately 2% or less of the reported ARR in each period presented. If there is an actual cancellation of an ARR contract, we remove that ARR value at that time. We believe ARR is an important metric for understanding our business since it tracks the annualized cash value collected over a 12-month period for all of our recurring contracts, irrespective of whether it is a maintenance contract on a perpetual license, a ratable cloud contract, or a self-managed term-based subscription license. ARR should be viewed independently of total revenue and deferred revenue related to our subscription and services contracts and is not intended to be combined with or to replace either of those items.

Cloud Subscription Annual Recurring Revenue ("Cloud Subscription ARR") represents the portion of ARR that is attributable to our hosted cloud contracts. We believe that Cloud Subscription ARR is a helpful metric for understanding our business since it represents the approximate annualized cash value collected over a 12-month period for all of our recurring Cloud contracts. Cloud Subscription ARR should be viewed independently of cloud subscription revenue and deferred revenue related to our subscription contracts and is not intended to be combined with or to replace either of those items.

Self-managed Subscription Annual Recurring Revenue ("Self-Managed Subscription ARR") represents the portion of ARR that is attributable to our self-managed subscription contracts. We believe that Self-Managed Subscription ARR is a helpful metric for understanding our business since it represents the approximate annualized cash value collected over a 12-month period for all of our recurring self-managed subscription contracts. Self-Managed Subscription ARR should be viewed independently of subscription revenue and deferred revenue related to our subscription contracts and is not intended to be combined with or to replace either of those items. As we continue to shift our focus from perpetual to cloud, we expect Self-managed Subscription ARR will decrease in future quarters.

Maintenance Annual Recurring Revenue ("Maintenance ARR") represents the portion of ARR only attributable to our maintenance contracts. We believe that Maintenance ARR is a helpful metric for understanding our business since it represents the approximate annualized cash value collected over a 12-month period for all our maintenance contracts. Maintenance ARR includes maintenance contracts supporting our perpetual licenses. Maintenance ARR should be viewed independently of maintenance revenue and deferred revenue related to our maintenance contracts and is not intended to be combined with or to replace either of those items. As we continue to shift our focus from perpetual to cloud, we expect Maintenance ARR will decrease in future quarters.

Cloud Subscription Net Retention Rate ("Cloud Subscription NRR") compares the contract value for Cloud Subscription ARR from the same set of customers at the end of a period compared to the prior year. We treat divisions, segments, or subsidiaries of a company as one customer when defining the Global Parent level. Global Parent customers are determined using Dun & Bradstreet GDUNS identifiers. To calculate our Cloud Subscription NRR for a particular period, we first establish the Cloud Subscription ARR value at the end of the prior year period. We subsequently measure the Cloud Subscription ARR value at the end of the current period from the same cohort of customers. Cloud Subscription NRR is then calculated by dividing the aggregate Cloud Subscription ARR in the current period by the prior year period. An increase in the Cloud Subscription NRR occurs as a result of price increases on existing contracts, higher consumption of existing products, and sales of additional new subscription products to existing customers exceeding losses from subscription contracts due to price decreases, usage decreases and cancellations. We believe Cloud Subscription NRR is an important metric for understanding our business since it measures the rate at which we are able to sell additional products into our cloud subscription customer base.

Revenue Disaggregation

Revenue recognized over time:

Revenue recognized at a point in time:

Self-managed subscription license revenue (i)(iii) represents revenues from customers and partners for the license rights to our on-premise self-managed software during a subscription term. When customers enter into a new subscription contract or renew an existing contract, this revenue is recognized upon the later of when the software license is made available to the customer or the subscription term commences.

Revenue recognized as services are provided:

Professional services revenue (ii) represents revenues from non-recurring fees associated with implementation, education, and consulting services related to our software products.

(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 revenues separately. Because revenues 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.

Forrester, The Forrester Wave™: Data Governance Solutions, Q3 2025, by Raluca Alexandru, 9 July 2025 was published by Forrester. Forrester does not endorse any company, product, brand, or service included in its research publications and does not advise any person to select the products or services of any company or brand based on the ratings included in such publications. Information is based on the best available resources. Opinions reflect judgment at the time and are subject to change.

Gartner Market Share: Enterprise Software, Worldwide 2024, by Varsha Mehta, et al., 17 April 2025 was published by Gartner, Inc. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission, and the objectivity disclaimer given above. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Informatica

Informatica (NYSE: INFA), a leader in AI-powered enterprise cloud data management, helps businesses unlock the full value of their data and AI. As data grows in complexity and volume, Informatica’s Intelligent Data Management Cloud™ delivers a complete, end-to-end platform with a suite of industry-leading, integrated solutions to connect, manage and unify data across any cloud, hybrid or multi-cloud environment. Powered by CLAIRE ® AI, Informatica’s platform integrates natively with all major cloud providers, data warehouses and analytics tools— giving organizations the freedom of choice, avoiding vendor lock-in and delivering better ROI by enabling access to governed data, simplifying operations and scaling with confidence.

Trusted by approximately 5,000 customers in nearly 100 countries—including over 80 of the Fortune 100—Informatica is the backbone of platform-agnostic, cloud data-driven transformation. Informatica. Where data and AI come to life.™

INFORMATICA INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

(unaudited)

Three Months Ended September 30,

Nine Months Ended September 30,

2025

2024

2025

2024

Revenues:

Subscription revenue

320,661

287,934

891,705

804,238

Maintenance and professional services

118,500

134,547

358,697

407,475

Total revenues

439,161

422,481

1,250,402

1,211,713

Cost of revenues:

Subscription costs

53,426

48,768

160,777

142,978

Maintenance and professional services costs

26,999

31,894

80,906

100,273

Amortization of acquired technology

540

947

1,609

3,008

Total cost of revenues

80,965

81,609

243,292

246,259

Gross profit

358,196

340,872

1,007,110

965,454

Operating expenses:

Research and development

85,356

80,316

255,569

239,204

Sales and marketing

139,539

133,517

437,142

418,403

General and administrative

47,296

44,707

144,855

144,115

Amortization of intangible assets

25,139

29,845

74,940

93,302

Restructuring

—

1,554

—

6,808

Total operating expenses

297,330

289,939

912,506

901,832

Income from operations

60,866

50,933

94,604

63,622

Interest income

13,751

14,829

40,011

42,001

Interest expense

(29,749

)

(36,345

)

(88,758

)

(113,775

)

Other income (expense), net

4,185

(14,011

)

(30,300

)

(6,825

)

Income (loss) before income taxes

49,053

15,406

15,557

(14,977

)

Income tax expense (benefit)

45,055

29,391

14,868

(15,154

)

Net income (loss)

3,998

(13,985

)

689

177

Net income (loss) per share attributable to Class A and Class B-1 common stockholders:

Basic

0.01

(0.05

)

0.00

Diluted

0.01

(0.05

)

0.00

Weighted-average shares used in computing net income (loss) per share:

Basic

306,268

303,954

303,976

300,606

Diluted

314,515

303,954

310,528

313,363

INFORMATICA INC.

CONSOLIDATED BALANCE SHEETS

(in thousands, except par value data)

(Unaudited)

September 30,

December 31,

2025

2024

Assets

Current assets:

Cash and cash equivalents

1,349,474

912,460

Short-term investments

122,675

319,951

Accounts receivable, net of allowances of $3,249 and $6,618, respectively

328,237

509,826

Contract assets, net

54,742

60,343

Prepaid expenses and other current assets

190,223

184,939

Total current assets

2,045,351

1,987,519

Property and equipment, net

135,576

138,999

Operating lease right-of-use-assets

50,417

48,438

Goodwill

2,386,626

2,326,831

Customer relationships intangible asset, net

484,757

550,404

Other intangible assets, net

4,275

5,681

Deferred tax assets

20,909

18,267

Other assets

168,719

203,393

Total assets

5,296,630

5,279,532

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable

21,222

27,155

Accrued liabilities

49,951

57,696

Accrued compensation and related expenses

111,516

148,248

Current operating lease liabilities

13,519

13,686

Current portion of long-term debt

18,750

Income taxes payable

2,196

5,815

Deferred revenue

729,046

819,367

Total current liabilities

946,200

1,090,717

Long-term operating lease liabilities

40,077

37,771

Long-term deferred revenue

9,613

13,910

Long-term debt, net

1,778,891

1,790,401

Deferred tax liabilities

5,371

7,828

Long-term income taxes payable

31,349

24,276

Other liabilities

36,559

7,315

Total liabilities

2,848,060

2,972,218

Stockholders’ equity:

Class A common stock; $0.01 par value per share; 2,000,000 shares authorized as of September 30, 2025 and December 31, 2024; 264,301 and 259,485 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively

2,644

2,596

Class B-1 common stock; $0.01 par value per share; 200,000 shares authorized as of September 30, 2025 and December 31, 2024; 44,050 shares issued and outstanding as of September 30, 2025 and December 31, 2024

440

Class B-2 common stock; $0.00001 par value per share; 200,000 shares authorized as of September 30, 2025 and December 31, 2024; 44,050 shares issued and outstanding as of September 30, 2025 and December 31, 2024

—

Additional paid-in-capital

3,767,726

3,670,371

Accumulated other comprehensive loss

(24,209

)

(67,383

)

Accumulated deficit

(1,298,031

)

(1,298,710

)

Total stockholders’ equity

2,448,570

2,307,314

Total liabilities and stockholders’ equity

5,296,630

5,279,532

INFORMATICA INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

Three Months Ended September 30,

Nine Months Ended September 30,

2025

2024

2025

2024

Operating activities:

Net income (loss)

3,998

(13,985

)

689

177

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Depreciation and amortization

3,271

3,911

10,071

9,977

Non-cash operating lease costs

2,741

3,592

9,845

10,927

Stock-based compensation

69,608

66,000

200,178

195,600

Deferred income taxes

(3,795

)

1,743

(5,030

)

167

Amortization of intangible assets and acquired technology

25,679

30,792

76,549

96,310

Amortization of debt issuance costs

998

933

2,930

2,723

Amortization of investment discount, net of premium

(798

)

(1,222

)

(2,112

)

(4,070

)

Debt refinancing costs

—

1,366

Changes in operating assets and liabilities:

Accounts receivable

4,971

42,149

190,746

218,567

Prepaid expenses and other assets

18,508

276

31,376

8,473

Accounts payable and accrued liabilities

(1,134

)

(3,461

)

(65,153

)

(95,483

)

Income taxes payable

42,055

16,903

(8,854

)

(57,909

)

Deferred revenue

(17,395

)

(41,133

)

(113,778

)

(123,833

)

Net cash provided by operating activities

148,707

106,498

327,457

262,992

Investing activities:

Purchases of property and equipment

(1,783

)

(772

)

(6,491

)

(2,337

)

Purchases of investments

(26,813

)

(124,378

)

(261,198

)

(393,933

)

Maturities of investments

183,900

148,400

460,400

350,432

Sales of investments

—

7,929

—

Other

—

1,878

Net cash provided by / (used in) investing activities

155,304

23,250

200,640

(43,960

)

Financing activities:

Payment of debt

(4,687

)

(4,688

)

(14,063

)

(16,035

)

Payment of debt refinancing costs

—

(1,349

)

Proceeds from issuance of debt

—

1,971

Proceeds from issuance of common stock under employee stock purchase plan

8,613

11,470

23,192

25,267

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

(25,929

)

(22,128

)

(74,534

)

(98,819

)

Proceeds from issuance of shares under equity plans

24,602

5,385

48,567

63,106

Net cash provided by / (used in) financing activities

2,599

(9,961

)

(118,194

)

(25,871

)

Effect of foreign exchange rate changes on cash and cash equivalents

(9,411

)

14,321

27,111

6,969

Net increase in cash and cash equivalents

297,199

134,108

437,014

200,130

Cash and cash equivalents at beginning of period

1,052,275

798,465

912,460

732,443

Cash and cash equivalents at end of period

1,349,474

932,573

1,349,474

932,573

Supplemental disclosures:

Cash paid for interest

30,515

36,188

90,742

111,892

Cash paid for income taxes, net of refunds

6,828

10,745

28,697

42,588

INFORMATICA INC.

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 income (loss) to Non-GAAP net income

Three Months Ended

September 30,

Nine Months Ended

September 30,

2025

2024

2025

2024

(in thousands)

GAAP net income (loss)

3,998

(13,985

)

689

177

Stock-based compensation-related charges

72,812

67,401

206,314

200,078

Amortization of intangibles

25,679

30,792

76,549

96,310

Restructuring

—

1,554

—

6,808

Debt refinancing costs

—

1,366

Facility impairment

—

624

—

Acquisition-related costs

2,092

364

14,120

7,569

Sponsor-related costs

—

176

773

Income tax effect

10,639

2,822

(57,200

)

(83,677

)

Non-GAAP net income

115,220

88,948

241,272

229,404

Net income (loss) per share:

Net income (loss) per share—basic

0.01

(0.05

)

0.00

Net income (loss) per share—diluted

0.01

(0.05

)

0.00

Non-GAAP net income per share—basic

0.38

0.29

0.79

0.76

Non-GAAP net income per share—diluted

0.37

0.28

0.78

0.73

Share count (in thousands):

Weighted-average shares used in computing net income (loss) per share—basic

306,268

303,954

303,976

300,606

Weighted-average shares used in computing net income (loss) per share—diluted

314,515

303,954

310,528

313,363

Weighted-average shares used in computing Non-GAAP net income per share—basic

306,268

303,954

303,976

300,606

Weighted-average shares used in computing Non-GAAP net income per share—diluted

314,515

312,619

310,528

313,363

Reconciliation of GAAP income from operations to Non-GAAP income from operations

Three Months Ended

September 30,

Nine Months Ended

September 30,

2025

2024

2025

2024

(in thousands)

GAAP income from operations

60,866

50,933

94,604

63,622

Stock-based compensation-related charges

72,812

67,401

206,314

200,078

Amortization of intangibles

25,679

30,792

76,549

96,310

Restructuring

—

1,554

—

6,808

Facility Impairment

—

624

—

Acquisition-related costs

2,092

364

14,120

7,569

Sponsor-related costs

—

176

773

Non-GAAP income from operations

161,449

151,044

392,387

375,160

GAAP operating margin (% of total revenue)

13.9

12.1

7.6

5.3

Non-GAAP operating margin (% of total revenue)

36.8

35.8

31.4

31.0

INFORMATICA INC.

NON-GAAP FINANCIAL MEASURES AND KEY BUSINESS METRICS

Adjusted EBITDA Reconciliation

Three Months Ended

September 30,

Nine Months Ended

September 30,

Trailing Twelve Months ("TTM") Ended September 30,

2025

2024

2025

2024

2025

(in thousands)

GAAP net income (loss)

3,998

(13,985

)

689

177

10,443

Income tax expense (benefit)

45,055

29,391

14,868

(15,154

)

73,256

Interest income

(13,751

)

(14,829

)

(40,011

)

(42,001

)

(54,447

)

Interest expense

29,749

36,345

88,758

113,775

121,047

Debt refinancing costs

—

1,366

—

Other expense (income), net

(4,185

)

14,011

30,300

5,459

7,731

Stock-based compensation-related charges

72,812

67,401

206,314

200,078

269,324

Amortization of intangibles

25,679

30,792

76,549

96,310

105,984

Facility impairment

—

624

—

624

Restructuring

—

1,554

—

6,808

5,697

Acquisition-related costs

2,092

364

14,120

7,569

14,120

Sponsor-related costs

—

176

773

906

Depreciation

3,383

3,745

9,988

9,816

13,560

Adjusted EBITDA

164,832

154,789

402,375

384,976

568,245

Adjusted Unlevered Free Cash Flow

Three Months Ended September 30,

Nine Months Ended September 30,

2025

2024

2025

2024

(in thousands, except percentages)

Total GAAP Revenue

439,161

422,481

1,250,402

1,211,713

Net cash provided by operating activities

148,707

106,498

327,457

262,992

Less: Purchases of property and equipment

(1,783

)

(772

)

(6,491

)

(2,337

)

Add: Restructuring costs

228

1,686

5,471

18,159

Add: Acquisition-related costs

3,156

297

7,934

6,979

Add: Sponsor-related costs

—

390

499

Adjusted Free Cash Flow (after-tax) (1)(2)

150,308

107,779

334,761

286,292

Add: Cash paid for interest

30,515

36,188

90,742

111,892

Adjusted Unlevered Free Cash Flow (after-tax) (1)(2)

180,823

143,967

425,503

398,184

Adjusted Free Cash Flow (after-tax) margin (1)(2)

Adjusted Unlevered Free Cash Flow (after-tax) margin (1)(2)

(1) Includes cash tax payments of $6.8 million and $10.8 million for the three months ended September 30, 2025 and 2024, respectively and $28.6 million and $42.6 million for the nine months ended September 30, 2025 and 2024, respectively.

Key Business Metrics

September 30,

2025

2024

(in thousands, except percentages)

Cloud Subscription Annual Recurring Revenue

968,623

747,811

Self-managed Subscription Annual Recurring Revenue

374,492

471,030

Maintenance Annual Recurring Revenue on Perpetual Licenses

404,708

462,935

Total Annual Recurring Revenue

1,747,823

1,681,776

Cloud Subscription Net Retention Rate (Global Parent level)

120

126

INFORMATICA INC.

SUPPLEMENTAL INFORMATION

Additional Business Metrics

September 30,

2025

2024

Maintenance Renewal Rate

Total Cloud Subscription Annual Recurring Revenue customers

2,545

2,395

Cloud transactions processed per month in trillions (1)

143.3

101.3

(1) Total number of cloud transactions processed on our platform per month in trillions, which measures data processed.

Disaggregation of Revenues

Three Months Ended

September 30,

Nine Months Ended

September 30,

2025

2024

2025

2024

(in thousands)

Revenues:

Cloud subscription (i)

230,397

175,809

640,263

488,669

Self-managed subscription support and other (i)

38,839

46,627

121,299

144,126

Maintenance (ii)

100,275

115,309

306,403

349,469

Total revenue recognized over time

369,511

337,745

1,067,965

982,264

Self-managed subscription license recognized at a point in time (i)(iii)

51,425

65,498

130,143

171,443

Total subscription and maintenance revenue

420,936

403,243

1,198,108

1,153,707

Professional services (ii)

18,225

19,238

52,294

58,006

Total revenues

439,161

422,481

1,250,402

1,211,713

(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.

Net Debt Reconciliation

September 30,

December 31,

2025

2024

(in millions)

Dollar Term Loan

1,809

1,823

Less: Cash, cash equivalents, and short-term investments

(1,472

)

(1,232

)

Total net debt

337

591