The term "intangible assets" refers to assets with high value but no physical presence that provides a long-term financial benefit to a company. Identifiable intangible assets are those that can be priced, sold separately from other assets, and sold by the corporation. Intellectual property, like as patents, trademarks, and copyrights, as well as non-cash government grants, such as broadcasting licenses or airport landing rights, are examples of identifiable intangible assets. A trademark is a sign that can be used to separate one company's products or services from those of other businesses. Trademarks are protected under intellectual property laws. Intangible assets are capitalized at fair value as of the date of acquisition rather than cost when acquired separately.
Splunk Inc’s gross value of intangible assets surged from $367.07 million in FY2021 to $383.50 million in FY2022. In FY2022, the company's net value of intangible assets was $164.76 million. Developed technology, Customer relationships, and Other acquired intangible assets amounted to $283.4 million, $92.71 million, and $7.39 million respectively, based on the company's calculation of the fair value of identified intangible assets in FY2022. The company's amortization expense for intangible assets was $57.8 million in FY2022.
The company's total assets declined by $77.80 million, from $5.86 billion in FY2021 to $5.79 billion in FY2022. The decrease is due to a decline in Accounts receivable (non-current) of $104.51 million and Operating lease right-of-use assets of $127.09 million.
The company acquired TruSTAR and Rigor in FY2021, and FY2022 respectively. Also, in FY2020 it acquired SignalFx, Omnition, and Streamlio.
Splunk Inc (Splunk) provides technology solutions that enable customers to manage their network security, IT operations, and IoT networks. The company offers products such as Splunk Cloud, Splunk Enterprise, Splunk it Service Intelligence, Splunk On-Call, Splunk Infrastructure Monitoring, Splunk Insights for AWS Cloud Monitoring, Splunk App for Infrastructure, Victorops, Splunk Enterprise Security, Splunk Phantom, Splunk User Behavior Analytics, and Signalfx Infrastructure Monitoring. Splunk also offers enterprise deployment services, virtualization services, technical assessment services, and project management services. It offers its products under the Splink and Hunk brand names. It serves the government, education, financial services, healthcare, retail, telecom, and non-profit sectors. The company has a business presence in the Americas, Europe, the Middle East and Africa, and Asia-Pacific. Splunk is headquartered in San Francisco, California, US.
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