Registered number: 03352679
FOR THE YEAR ENDED 31 DECEMBER 2024
INFORMATICA SOFTWARE LIMITED
COMPANY INFORMATION
INFORMATICA SOFTWARE LIMITED
CONTENTS
INFORMATICA SOFTWARE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their strategic report for the year ended 31 December 2024.
Informatica (NYSE: INFA) is a global leader in enterprise data management software that caters to businesses seeking to optimize their data strategies. Data is foundational to how enterprises run their businesses and make strategic decisions, including creating new offerings, serving their customers and driving operational efficiency. Informatica's IDMC (Intelligent Data Management Cloud) platform, powered by AI engine CLAIRE, delivers best-of breed solutions that enables enterprises to connect virtually all types of enterprise data, govern and protect critical and sensitive data, and deliver data ready for AI and other strategic data-driven initiatives.
As artificial intelligence reshapes industries, Informatica introduced a new generative AI (GenAI)-powered product, CLAIRE® GPT, to redefine the future of data management. CLAIRE GPT focuses on bringing the power of GenAI to data management tasks by integrating AI and machine learning into all aspects of data management. This innovative feature provides a natural language interface, enabling users to interact with data more intuitively and efficiently by simplifying the processes of data consumption, processing, management and analysis. CLAIRE GPT significantly accelerates enterprise data workflows and enhances overall user experience, reinforcing Informatica's leadership in AI-powered data management solutions
We offer a consumption-based pricing model to provide customers greater flexibility regarding use and consumption of a broad array of cloud subscription offerings. The consumption-based pricing model is based on Informatica Processing Units ("IPUs"), which aligns with modern customer expectations for scalable and customizable service consumption. This pricing model, paired with compliance with ASC 606, provides a robust framework for recognizing revenue accurately and in line with current accounting standards. It ensures transparency and a fair representation of earnings reflecting actual service delivery.
Our Cloud and DaaS offerings have continued to experience strong momentum, with year-over-year revenue growth of 38.40% and 70.51%, respectively. Additionally, several self-managed customers have modernized their on-premise environments by migrating to Informatica’s Intelligent Data Management Cloud. This migration has shifted our revenue recognition model for these customers from upfront recognition under the self-managed model to a more ratable recognition reflecting cloud subscription services. Consequently, revenue recognized from on-premises services has decreased during the year, reflecting this transition.
As artificial intelligence reshapes industries, Informatica introduced a new generative AI (GenAI)-powered product, CLAIRE® GPT, to redefine the future of data management. CLAIRE GPT focuses on bringing the power of GenAI to data management tasks by integrating AI and machine learning into all aspects of data management. This innovative feature provides a natural language interface, enabling users to interact with data more intuitively and efficiently by simplifying the processes of data consumption, processing, management and analysis. CLAIRE GPT significantly accelerates enterprise data workflows and enhances overall user experience, reinforcing Informatica's leadership in AI-powered data management solutions
We offer a consumption-based pricing model to provide customers greater flexibility regarding use and consumption of a broad array of cloud subscription offerings. The consumption-based pricing model is based on Informatica Processing Units ("IPUs"), which aligns with modern customer expectations for scalable and customizable service consumption. This pricing model, paired with compliance with ASC 606, provides a robust framework for recognizing revenue accurately and in line with current accounting standards. It ensures transparency and a fair representation of earnings reflecting actual service delivery.
Our Cloud and DaaS offerings have continued to experience strong momentum, with year-over-year revenue growth of 38.40% and 70.51%, respectively. Additionally, several self-managed customers have modernized their on-premise environments by migrating to Informatica’s Intelligent Data Management Cloud. This migration has shifted our revenue recognition model for these customers from upfront recognition under the self-managed model to a more ratable recognition reflecting cloud subscription services. Consequently, revenue recognized from on-premises services has decreased during the year, reflecting this transition.
Future Outlook
The economic climate at the time of these financial statements were signed remains turbulent. However, based on the latest forecast the directors are confident the Company has the financial resources to meet all of its obligations over the next 12 months and have prepared the financial statements on a going concern basis.
The economic climate at the time of these financial statements were signed remains turbulent. However, based on the latest forecast the directors are confident the Company has the financial resources to meet all of its obligations over the next 12 months and have prepared the financial statements on a going concern basis.
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INFORMATICA SOFTWARE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Company's operations expose it to a variety of financial risks that include liquidity, interest rate, currency, credit and macro economy risks. Given the size of the Company, the directors have not delegated the responsibility of the monitoring financial risk management to a subcommittee of the board. The policies set by the board of directors are implemented and monitored by the Company's finance department.
Liquidity Risk
The Company monitors and retains sufficient cash levels to ensure it has funds available for its operations. All cash investments are reviewed and approved by the group treasurer to ensure liquidity is maintained.
Interest Rate Risk
The Company has cash balances which earn interest at a variable rate. The directors consider the interest rate risk to be minimal due to low interest rates in the UK.
Currency Risk
The Company has transaction currency exposures which arise from purchases in currencies other than its functional currency. Management monitor foreign currency balances and ensure the balances are cleared down regularly to minimise the risk over time.
Invasion of Ukraine
Against the backdrop of rising tensions with Russia, particularly as it relates to Russia’s actions in Ukraine, and the ongoing sanctions announced by the United States, the United Kingdom and the European Union against Russia, the Company has reviewed the associated risks this causes for the business, its operations, and financial condition.
Imports and Exports
The Company made no sales to Russia, Belarus and the Ukraine for the year ended 31 December 2024. The Company continues to actively monitor new sanctions but as at the time of this report the Company has not been impacted to any sanctions.
Supply Chain
The Company has significant control over its supply chain, the largest element being its workforce used for delivery and implementation. The Company currently has not been impacted in this regard.
Currency
The Company holds no assets or reserves in banks associated with Russia or Belarus and so there are no immediate challenges.
The directors note the situation continues to be rapidly evolving and the directors continues to monitor the latest developments, but a significant amount of uncertainty remains present at the time of this report.
Liquidity Risk
The Company monitors and retains sufficient cash levels to ensure it has funds available for its operations. All cash investments are reviewed and approved by the group treasurer to ensure liquidity is maintained.
Interest Rate Risk
The Company has cash balances which earn interest at a variable rate. The directors consider the interest rate risk to be minimal due to low interest rates in the UK.
Currency Risk
The Company has transaction currency exposures which arise from purchases in currencies other than its functional currency. Management monitor foreign currency balances and ensure the balances are cleared down regularly to minimise the risk over time.
Invasion of Ukraine
Against the backdrop of rising tensions with Russia, particularly as it relates to Russia’s actions in Ukraine, and the ongoing sanctions announced by the United States, the United Kingdom and the European Union against Russia, the Company has reviewed the associated risks this causes for the business, its operations, and financial condition.
Imports and Exports
The Company made no sales to Russia, Belarus and the Ukraine for the year ended 31 December 2024. The Company continues to actively monitor new sanctions but as at the time of this report the Company has not been impacted to any sanctions.
Supply Chain
The Company has significant control over its supply chain, the largest element being its workforce used for delivery and implementation. The Company currently has not been impacted in this regard.
Currency
The Company holds no assets or reserves in banks associated with Russia or Belarus and so there are no immediate challenges.
The directors note the situation continues to be rapidly evolving and the directors continues to monitor the latest developments, but a significant amount of uncertainty remains present at the time of this report.
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INFORMATICA SOFTWARE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors and officers of Informatica Inc. oversee the operations of the group on a business sector basis. The directors of the Company do not believe the use of KPI's are appropriate for assessing the performance or position of the UK business.
Streamlined Energy Carbon Reporting
Energy efficiency actions undertaken during reporting year:
Streamlined Energy Carbon Reporting
Energy efficiency actions undertaken during reporting year:
∙Consolidation of data centres completed;
∙Continue to promote cycle to work programme;
∙Continue to promote virtual meetings;
∙Additional management approvals needed for international travel.
The directors have acted in a way they considered, in good faith, to be the most likely to promote the success of the Company for the benefit of its stakeholders. Section 172 requires the directors to have regard, amongst other matters to the:
a) Likely consequences of any decisions in the long term;
b) Interests of the company’s employees;
c) Need to foster the company’s business relationships with suppliers, customers, and others;
d) Impact of the company’s operations on the community and the environment;
e) Desirability of the company maintaining a reputation for high standards of business conduct, and;
f) Need to act fairly as between members of the company.
Similar to many large organisations, much of the group strategy is set at a corporate level. The Company delegates authority for the day to day management to the company executives. Management are responsible for overseeing the execution of the group strategy and adhering to policies set by the group.
Senior executives hold meetings with the regional management team regularly to ensure feedback from employees, customers and our supplier base are heard and reported back in a timely manner.
a) Likely consequences of any decisions in the long term;
b) Interests of the company’s employees;
c) Need to foster the company’s business relationships with suppliers, customers, and others;
d) Impact of the company’s operations on the community and the environment;
e) Desirability of the company maintaining a reputation for high standards of business conduct, and;
f) Need to act fairly as between members of the company.
Similar to many large organisations, much of the group strategy is set at a corporate level. The Company delegates authority for the day to day management to the company executives. Management are responsible for overseeing the execution of the group strategy and adhering to policies set by the group.
Senior executives hold meetings with the regional management team regularly to ensure feedback from employees, customers and our supplier base are heard and reported back in a timely manner.
This report was approved by the board and signed on its behalf.
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INFORMATICA SOFTWARE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £3,629,457 (2023 - £2,627,762).
No dividend has been paid or proposed in the current year (2023 - £nil).
On 25 August 2025, the directors proposed a dividend of £8,000,000.
On 25 August 2025, the directors proposed a dividend of £8,000,000.
The directors who served during the year were:
After the balance sheet date, F R Y Santiago was appointed as a director of the Company on 16 March 2025 and R Garde was appointed as a director of the Company on 17 June 2025.
Directors’ indemnities
The Company’s ultimate parent company, Informatica Inc. (NYSE: INFA), has in place indemnity provisions in its bylaws that apply to the directors of the Company. The directors benefit from these provisions.
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INFORMATICA SOFTWARE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
There are no significant future developments expected to impact the Company.
Customers
Informatica is well regarded in the software industry as having some of the highest standards in post sales service and customer support. Our future success is dependent on the success of our customers and their experience of using Informatica products. The board have made significant investments to ensure we maintain these high standards and have invested in new customer success roles across the organisation to ensure we are there when our customers need us. These new roles enhance the customer feedback programs we already have in place. These platforms allow us to receive both real time and comprehensive customer feedback in a timely manner. This data is reported to and reviewed by the board in order to see if any changes or improvements to our products, services or processes are required to continuously improve and continue our innovation.
Employees
Our employees are at the heart of everything we do, and employee health and wellbeing are of primary importance. The board requires all employees to undertake comprehensive training annually covering topics such as governance, compliance, ethics and health and safety. This ensures we operate in a safe and open environment for all employees to prosper. Informatica has a zero tolerance policy for any form of bullying or harassment and the board take these matters very seriously. The executive team hold a companywide meeting at least once per quarter to provide all employees with updates from across the group as well as insights into the future outlook.
Suppliers
Informatica believes in trading in a fair and responsible manner with each of our valued partners in the supply chain. We expect the same high standards as we uphold internally, and each new relationship is thoroughly screened prior to the supplier being onboarded.
We regularly review the terms of our contracts and have implemented a framework to ensure only specific individuals can conclude contracts and only once all backgrounds checks have been completed. The board takes its responsibilities in relation to UK Bribery Act and Modern Slavery Acts very seriously. The Company has a zero tolerance policy for any form of bribe.
Informatica is well regarded in the software industry as having some of the highest standards in post sales service and customer support. Our future success is dependent on the success of our customers and their experience of using Informatica products. The board have made significant investments to ensure we maintain these high standards and have invested in new customer success roles across the organisation to ensure we are there when our customers need us. These new roles enhance the customer feedback programs we already have in place. These platforms allow us to receive both real time and comprehensive customer feedback in a timely manner. This data is reported to and reviewed by the board in order to see if any changes or improvements to our products, services or processes are required to continuously improve and continue our innovation.
Employees
Our employees are at the heart of everything we do, and employee health and wellbeing are of primary importance. The board requires all employees to undertake comprehensive training annually covering topics such as governance, compliance, ethics and health and safety. This ensures we operate in a safe and open environment for all employees to prosper. Informatica has a zero tolerance policy for any form of bullying or harassment and the board take these matters very seriously. The executive team hold a companywide meeting at least once per quarter to provide all employees with updates from across the group as well as insights into the future outlook.
Suppliers
Informatica believes in trading in a fair and responsible manner with each of our valued partners in the supply chain. We expect the same high standards as we uphold internally, and each new relationship is thoroughly screened prior to the supplier being onboarded.
We regularly review the terms of our contracts and have implemented a framework to ensure only specific individuals can conclude contracts and only once all backgrounds checks have been completed. The board takes its responsibilities in relation to UK Bribery Act and Modern Slavery Acts very seriously. The Company has a zero tolerance policy for any form of bribe.
The Company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the strategic report information required by The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the Directors' report. It has done so in respect of risk and uncertainties and financial risk management objectives and policies.
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INFORMATICA SOFTWARE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
On 27 May 2025, Salesforce (NYSE: CRM) signed Definitive Agreement to acquire Informatica for approximately $8 billion in equity value net of Salesforce’s current investment in Informatica.
On 25 August 2025, the directors proposed a dividend of £8,000,000.
There have been no other significant events affecting the Company since the year end.
On 25 August 2025, the directors proposed a dividend of £8,000,000.
There have been no other significant events affecting the Company since the year end.
The auditor, Nortons Assurance Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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INFORMATICA SOFTWARE LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF INFORMATICA SOFTWARE LIMITED
We have audited the financial statements of Informatica Software Limited (the 'Company') for the year ended 31 December 2024, which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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INFORMATICA SOFTWARE LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF INFORMATICA SOFTWARE LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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INFORMATICA SOFTWARE LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF INFORMATICA SOFTWARE LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The objectives of our audit, in respect to fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.
Our approach was as follows:
∙We obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework including the Companies Act 2006 and the relevant tax compliance regulations in the UK.
∙We understood how the Company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures.
∙We assessed the susceptibility of the Company’s financial statements to material misstatement, including how fraud might occur by discussing with management to understand where it considered there was a susceptibility to fraud. We considered the controls that the Company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included testing manual journals and were designed to provide reasonable assurance that the financial statements were free from fraud and error.
∙Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations identified in the paragraphs above. Our procedures involved journal entry testing, with a focus on journals indicating large or unusual transactions based on our understanding of the business, enquiries of Company management and focused testing. In addition, we completed procedures to conclude on the compliance of the disclosures in the Annual Report and Accounts with the requirements of the relevant accounting standards and UK legislation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.
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INFORMATICA SOFTWARE LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF INFORMATICA SOFTWARE LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants and Statutory Auditor
Second Floor
NOW Building
Thames Valley Park
Berkshire
RG6 1RB
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INFORMATICA SOFTWARE LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
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INFORMATICA SOFTWARE LIMITED
REGISTERED NUMBER: 03352679
BALANCE SHEET
AS AT 31 DECEMBER 2024
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INFORMATICA SOFTWARE LIMITED
REGISTERED NUMBER: 03352679
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 15 to 36 form part of these financial statements.
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INFORMATICA SOFTWARE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Informatica Software Limited (the Company), is a private Company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is shown on the company information page.
The principal activity of the Company is set out in the strategic report on page 1.
The principal activity of the Company is set out in the strategic report on page 1.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Informatica Inc. (NYSE: INFA) as at 31 December 2024 and these financial statements may be obtained from 2100 Seaport Blvd, Redwood City, California 94063, USA.
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INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
These financial statements should be read in conjunction with those produced for the ultimate parent company, Informatica Inc. (NYSE: INFA). The directors have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements. In May 2025 Salesforce (NYSE: CRM) and Informatica Inc. have entered into an agreement for Salesforce to acquire Informatica. The transaction has been approved by the boards of directors of both Salesforce and Informatica and is expected to close early in Salesforce’s fiscal year 2027, subject to the receipt of required regulatory clearances and satisfaction of other customary closing conditions
Identification of the contract, or contracts, with a customer
A contract with a customer exists when (i) the Company enters into an enforceable contract with a customer that defines each party’s rights regarding the goods or services to be transferred and identifies the payment terms related to these goods or services, (ii) the contract has commercial substance and (iii) the Company determines that collection of substantially all consideration for goods or services that are transferred is probable based on the customer’s intent and ability to pay the promised consideration.
Identification of the performance obligations in the contract
Performance obligations contained in a contract are identified based on the goods or services that will be transferred to the customer that are both (i) capable of being distinct, and the customer can benefit from the goods or services either on their own or together with other resources that are readily available from third parties or from the Company, and (ii) distinct in the context of the contract, and the transfer of the goods or services is separate from other promises in the contract. To the extent a contract includes multiple promised goods or services, the Company applies its judgment to determine whether the promised goods or services are capable of being distinct and distinct in the context of the contract. If these criteria are not met, the promised goods or services are accounted for as a combined performance obligation.
Determination of the transaction price
The transaction price is determined based on the consideration to which the Company will be entitled in exchange for transferring goods or services to the customer.
Allocation of the transaction price to the performance obligations in the contract
If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative standalone selling price ("SSP"). The Company determines a SSP based on the price at which the performance obligation is sold separately. In connection with our on-premise perpetual and subscription licenses and cloud services, we are unable to establish a SSP based on observable prices given the same selling price for the same products are highly variable, and a representative SSP is not discernible from past transactions or other observable evidence. As a result, the SSP for on-premise perpetual and subscription licenses and cloud services included in a contract with multiple performance obligations is determined by applying a residual approach whereby all other performance obligations
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INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Recognition of revenue when, or as, performance obligations are satisfied
The Company satisfies performance obligations either over time or at a point in time, as discussed in further detail below. Revenue is recognised at the time the related performance obligation is satisfied with the transfer of a promised good or service to a customer.
Software revenue
Software revenues are comprised of perpetual license revenues and subscription revenues. Perpetual license revenues are revenues from customers and partners for sales of our software under perpetual licenses. Revenue from our perpetual license products is generally recognised at a point in time upon transfer of control to the customer, which is typically upon making the software available to our customers.
Subscription revenues primarily consist of revenues from customers and partners under subscription-based on-premise licenses, PCS on subscription-based on-premise licenses, subscription cloud services and data-as-a-service offerings. Subscription revenues from subscription-based on-premise licenses are recognised at a point in time upon transfer of control to the customer, similar to perpetual licenses. Revenue on the remaining subscription offerings are generally recognised over time on a ratable basis over the contract term beginning on the date that the service is made available to the customer. Subscription contracts are generally three years or shorter in length, related fees of which are billed annually in advance, and are non-cancellable.
Services revenue
Services revenues are recognised over time and are comprised of maintenance revenues and consulting and education services revenues. Maintenance revenue, which consists of fees for ongoing support and product updates, if and when available, are recognised ratably over the term of the contract, typically one year. Maintenance contracts are generally billed annually in advance, and are non-cancelable.
Consulting revenues are primarily related to configuration, installation, and implementation of our products. These services are generally performed on a time-and-materials basis and, accordingly, revenues are recognised as the services are performed. Revenues for fixed fee contracts are generally recognised over time applying input methods to estimate progress to completion. Revenues for these services are generally recognised as the services are performed. If uncertainty exists about our ability to complete the project, our ability to collect the amounts due, or in the case of fixed-fee consulting arrangements, our ability to estimate the remaining costs to be incurred to complete the project, revenue is deferred until the uncertainty is resolved. Consulting services, if included as part of the software arrangement, generally do not entail significant modification or customisation of the software and hence, such services are not considered essential to the functionality of the software. If, in our judgment, the software arrangement includes significant modification or customisation of the software, then software license revenue is recognised as the consulting services revenue is recognised.
Education service revenues are generated from classes offered at our headquarters, sales and training offices, customer locations, and on-line. Revenues are recognised as the classes are delivered.
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INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Some of the Company's contracts with customers contain multiple performance obligations. For these contracts, the Company accounts for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative SSP basis. SSP is established for performance obligation that are routinely sold separately, such as support and maintenance on our core offerings. In connection with our on-premise perpetual and subscription licenses and cloud services, we are unable to establish SSP based on observable prices given the same products are sold for a broad range of amounts (that is, the selling price is highly variable) and a representative SSP is not discernible from past transactions or other observable evidence. As a result, the SSP for on-premise perpetual and subscription licenses and cloud services included in a contract with multiple performance obligations is determined by applying a residual approach whereby all other performance obligations within a contract are first allocated a portion of the transaction price based upon their respective SSPs, with any residual amount of transaction price allocated to on-premise perpetual and subscription licenses and cloud services revenues.
Contract balances
The timing of revenue recognition may differ from the timing of invoicing to customers. Accounts receivable are recorded at the invoiced amount, net of an allowance for doubtful accounts. A receivable is recognised in the period products are delivered or services are provided, or when the right to consideration is unconditional. Payment terms on invoiced amounts are typically between 30 and 60 days.
In arrangements where revenue recognition occurs in advance of invoicing, an unbilled receivable is recorded. Contract balances fluctuate between periods based on the timing of revenue recognition and invoicing, with an unbilled receivable recorded in the amount of revenue that remains un-invoiced at period-end.
Deferred revenue
In arrangements where fees are invoiced ahead of revenue being recognised, deferred revenue is recorded. Deferred revenue includes all non-cancellable amounts that have been invoiced and allocated to remaining performance obligations. Such amounts will be recognised as revenue in future periods and excludes performance obligations that are subject to cancellation terms. The current portion of deferred revenue represents the amounts that are expected to be recognised as revenue within one year of the balance sheet date.
Costs to obtain a contract
Costs to obtain a contract are sales commissions earned by our sales force are considered incremental and recoverable costs of obtaining a contract and are included as a prepayment when customer contracts are signed. Sales commissions for renewals of customer contracts are not commensurate with the commissions paid for the acquisition of the initial contract given the substantive difference in commission rates in proportion to their respective contract values. Commissions paid upon the initial acquisition of a contract are released over the estimated period of benefit of five years, which may exceed the term of the initial contract. We determine the estimated period of benefit based on the duration of relationships with our customers, which includes the expected renewals of customer contracts, customer retention data, our technology development lifecycle, and other factors. We apply a practical expedient to expense costs as incurred for costs to obtain a contract with a customer when the recognition period would have been one year or less.
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INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Turnover represents revenue received, net of value added tax, from fellow group companies for the provision of research and development, customer support and consulting services related to the groups software products.
At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
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INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Functional and presentation currency
Transactions and balances
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INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.
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INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Management makes estimates, judgments and assumptions in determining the standalone selling price ("SSP") used in revenue recognition, provisions, the fair value of stock options used in calculating stock-based compensation, the number of performance-based stock options that the Company expects to vest, the realisability of deferred tax assets and the collectability of accounts receivable. Management believes that the estimates, judgments and assumptions upon which it relies are reasonable based on information available at the time that these estimates, judgments, and assumptions are made.
Analysis of turnover by country of destination:
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INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
11.Taxation (continued)
There were no factors that may affect future tax charges.
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INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
21.Share capital (continued)
Share premium account
Capital redemption reserve
Profit and loss account
Page 33
INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 34
INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
In October 2021, the Company’s Compensation Committee approved the 2021 Employee Stock Purchase Plan (the "2021 ESPP"), which became effective in connection with the IPO. The 2021 ESPP authorizes the issuance of shares of common stock pursuant to purchase rights granted to employees. A total of 5,476,400 shares of the Company’s Class A common stock have been reserved for future issuance under the 2021 ESPP, in addition to any annual increases in the number of shares of Class A common stock reserved for future issuance under the 2021 ESPP. Under the 2021 ESPP, eligible employees are able to acquire shares of common stock on a discount by accumulating funds through payroll deductions. Offering periods are generally twelve months long and begin on 1 March and 1 September of each year, except for the first offering period. The first initial offering period began on 27 October 2021 and will end on 1 September 2022. The purchase price for shares of our common stock purchased under the 2021 ESPP is 85% of the lesser of the fair market value of our common stock on (i) the first trading day of the applicable offering period and (ii) the last trading day of each purchase period in the applicable offering period. The 2021 ESPP also includes a reset provision for the purchase price if the stock price on the purchase date is less than the stock price on the first date of the offering period.
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £543,440 (2023 - £567,211). Contributions totalling £112,224 (2023 - £108,571) were payable to the fund at the balance sheet date and are included in creditors.
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INFORMATICA SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The Company's immediate parent undertaking is Informatica Nederland B.V.
The ultimate parent of the group and the smallest and largest group to consolidate these financial statements isInformatica Inc. (NYSE: INFA) , registered office 2100 Seaport Blvd, Redwood City, California 94063, USA. Copies of the consolidated financial statements can be obtained from this address.
The Company is ultimately controlled byPermira Funds and Canada Pension Plan Investment Board.
The ultimate parent of the group and the smallest and largest group to consolidate these financial statements is
The Company is ultimately controlled by
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