CFLT
Confluent Inc.
Is CFLT Halal?
Data streaming platform — permissible enterprise software.
What You Should Know
Confluent's 2025 Form 10-K reports $2,985.270 million of assets, $1,095.988 million of convertible debt, and $2,053.972 million of cash plus marketable securities. IBM completed the acquisition on March 17, 2026, so CFLT is preserved as a historical standalone screen; the software is generally permissible, with debt and treasury liquidity above examined limits.
⚠️ Concerns
- •Historical standalone ticker after IBM acquisition
- •Debt/assets is 36.71% and liquidity/assets is 68.29%
- •Downstream AI, security and customer-use review
Current quantitative Sharia screen
Based on 10-K figures for the period ended 2025-12-31; calculated 2026-07-14.
1,095.988 / 2,985.27
2,053.972 / 2,985.27
737.962 / 2,985.27
- Financial
- Fails
- Overall
- Fails
Debt/assets is 36.71% and liquidity/assets is 68.29%, both above the examined FTSE limits; CFLT is a historical standalone record after IBM's acquisition.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 36.71% and identifiable liquidity/assets is 68.29%, exceeding the examined MSCI limits.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 36.71% and conventional liquidity/assets is 68.29%, above the examined Malaysia SAC limits; this is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; the asset-based screens fail independently.
Business-activity disclosure
Confluent provides data-streaming SaaS and professional services. The core software service is generally permissible, while downstream customer use, AI/security applications and the post-acquisition historical status require qualitative review.
Limitation: The standalone filing does not isolate a universal prohibited-revenue numerator or gross interest-income amount for the full year.
Purification
The filing describes interest earned on cash and marketable securities but does not provide a complete gross interest-income amount; ZakatInvest does not prescribe a substitute purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Confluent's December 31, 2025 Form 10-K.
- The $1,706.762 million marketable-securities balance consists of debt securities, including corporate notes, agency obligations, commercial paper and Treasuries.
- The $1,095.988 million convertible senior notes are recorded as debt; the notes were 0% contractual-interest notes but remain debt obligations for balance-sheet screening.
- Confluent was acquired by IBM on March 17, 2026 and CFLT is preserved as a historical standalone ticker screen. The filing describes interest income within other income but does not isolate a full 2025 gross amount.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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