Splunk (SPLK) is slated to report its first-quarter results on May 23 after the bell followed by a conference call at 4:30 pm ET. The data analyzer’s stock has increased 30% this year after the Q4 results came in better-than-expected and lifting the full-year guidance.

Earlier this month, Jason Child has been appointed as the CFO replacing Dave Conte. Child is joining Splunk with previous stints at Amazon and Groupon.

Splunk’s client base has grown consistently over the last decade from 450 at the end of fiscal 2008 to 17,500 at the end of January this year. The company also have acquired firms like Rocana, SignalSense, Drastin, Phantom, and VictorOps over the past two years to augment its service offerings, which has helped it to compete with its peers and expand its client base.

The company also has been focusing on inking partnerships which have helped it to add more customers and broaden its presence globally. Splunk has entered into strategic partnerships with firms like Amazon Web Services (AWS), Cisco Systems (CSCO), Symantec (SYMC) and Accenture (ACN) which is expected to augur well in the long-term.

Splunk is transitioning towards cloud-based subscription model from hosted software-based model, which is expected to bring in stable revenues in the near future.

What Street Expects?

Analysts are expecting 27% jump in revenues to $395.38 million and loss of 14 cents per share. The company guided revenues of about $395 million and adjusted operating margin to be about negative 8%.

For the full year, Splunk lifted its revenue outlook to about $2.20 billion, revising upwards from the previous guidance of about $2.15 billion. Adjusted operating margin is expected to be about 14%. The street is anticipating revenues of $2.22 billion for the full year and adjusted EPS of $1.68.

Looking Back

Last quarter, sales grew 35.3% to $622.1 million helped by improving demand for its products across the board, adding 600 new clients. However, earnings plummeted by 95.7% to $0.01 per share due to a surge in expenses and costs, while adjusted earnings jumped by 40.9% to $0.93 per share. As a result, fourth quarter results surpassed estimates on both the top and bottom line.

Splunk’s rival Zillow (ZG) earlier this month reported a 51% jump in revenues with 181 million unique monthly users. Nutanix (NTNX) is reporting its earnings on May 30.

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