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CEO Corey Thomas acknowledged that the company needs to improve its pricing and packaging to facilitate an easier expansion motion with 'bite-sized increments' for customers. Regarding customer count, he stated it is not a primary focus, as the company is successfully adding strategic customers while seeing some smaller, transactional customers churn. He indicated the focus is on growing ARR per customer and that the company will work on providing better metrics to reflect customer quality.

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CEO Corey Thomas explained that the primary driver for the India SOC is to support strong customer demand and growth in EMEA and APAC. While it offers economic benefits, he stressed that the majority of cost efficiency will come from technology innovation, particularly investments in AI. CFO Tim Adams noted this is already reflected in the numbers, with international revenue at 25% of total and growing at 10% year-over-year.

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Co-Founder & CEO Matthew Prince highlighted the company's rapid innovation in the SASE space, noting that when Cloudflare is included in deals, it wins on speed, ease of deployment, and ROI, often displacing first-generation vendors. He stated that improving market awareness is a key focus. Regarding the macro environment, Prince described it as 'disjointed' but noted that customers continue to invest in Cloudflare for its clear value proposition regardless of broader economic uncertainty.

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CEO Matthew Prince confirmed the specialized developer sales team was critical in closing the large Workers deal. He explained that the team is now actively and successfully engaging customers, helping them build proofs-of-concept that demonstrate the platform's ROI and lead to significant contracts. He noted the timing is right for this motion, given the maturity of the developer platform.

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CEO Matthew Prince explained that the company designed its compliance strategy to meet FedRAMP High requirements without fragmenting its unified global network, a key differentiator from hyperscalers. He noted that this allows the entire platform to be available to government clients. He also confirmed the federal business continues to grow in the U.S. and internationally, citing NATO as a key customer.

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President and CEO Neil Barua expressed a 'very bullish' view on the FA&D sector globally, citing increased spending commitments and strong customer engagement. For the U.S. public sector, he noted that while some agency introspection continues, the passage of the defense bill and the criticality of programs at agencies like NASA position PTC well. He concluded that the U.S. is the geography they are watching most closely for further clarity.

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Chief Revenue Officer Robert Dahdah stated he was pleased with the progress over the last 90 days. He highlighted that the pivot to a vertical-focused field organization was executed with low customer churn and the retention of top talent. Dahdah noted that this new structure is already leading to more outcome-focused customer discussions and is showing early positive signs in pipeline development, setting the company up for future growth.

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CEO Neil Barua identified Federal, Aerospace & Defense as a strong vertical with significant demand and backlog. He also pointed to Med Tech & Life Sciences as an area with growing PLM needs as large companies seek to accelerate product development. CFO Kristian Talvitie provided the ARR mix: Industrial (high 20s%), FA&D (around 15%), Electronics & High Tech (mid-teens), Automotive (low teens), and Med Tech (low teens).

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CEO Andrew Anagnost stated that channel disruptions have significantly eased and expects partner productivity to increase throughout the year. CFO Janesh Moorjani confirmed the NRR rate was mechanically boosted by the new transaction model and would have otherwise been within the historical 100-110% range. He also noted the first renewals under the new model are approaching in June for the Americas.

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CEO Andrew Anagnost stated that Autodesk's business is diversified and resilient enough to adapt to any policy changes. He emphasized that the primary issue for customers is not a specific policy outcome but the 'uncertainty' itself, which fuels angst. He expressed that customers, and Autodesk, want to move past the uncertainty to a stable policy environment.

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CEO Andrew Anagnost explained it is too early for definitive conclusions on the new model's upsell impact but cited successful EBA relationships as a positive indicator. On the macro environment, he stated that key customer drivers like infrastructure and domestic manufacturing are bipartisan issues, suggesting minimal impact from administrative changes.

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CEO Andrew Anagnost attributed the confidence to the successful, incremental rollout that started in Australia and proceeded smoothly in the U.S. with no major business disruptions. Interim CFO Betsy Rafael added that the main complexities in Europe are currency and regulations, which the company has extensive experience managing. Regarding the election, Anagnost stated that since key end markets like infrastructure and manufacturing have bipartisan support, they see little potential impact and are not hearing concern from customers.

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CAO and incoming CFO Christiane Ohlgart noted smaller customers are buying more devices, while enterprise strategies vary. On data security, Founder, Chairman, and CEO Ken Xie called the Next DLP acquisition a great addition for enhancing SASE and providing standalone data protection, with COO John Whittle adding it's being deployed at scale in large enterprises.

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COO John Whittle reported 'very, very positive feedback' on the Lacework acquisition, highlighting the quality of the product and its organically developed, integrated nature compared to competitors' piecemeal solutions. CEO Ken Xie added that it opens a new $20 billion market. Regarding the government vertical, CFO Keith Jensen noted that Fortinet is not heavily aligned with the U.S. federal cycle, focusing more on state, local, and international governments, so it doesn't see a typical Q3 federal budget flush.

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CEO Craig Courtemanche asserted that most untapped volume is greenfield, with potential customers using homegrown solutions or basic office software rather than a dedicated competitor platform. CFO Howard Fu explained the gross margin dip was due to an expense reclassification from sales and marketing to cost of revenue as part of the GTM changes, which was neutral to operating margin and free cash flow. He reiterated the long-term gross margin target in the mid-80s.

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CEO Tooey Courtemanche described building a channel with large SIs as a key part of the long-term plan, though not a primary focus currently. CFO Howard Fu explained that new logo count is not a key driver and that the guidance implies lower growth in this metric, pointing instead to the growth in large, six- and seven-figure deals as more indicative of business momentum.

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Executive Craig Courtemanche confirmed that driving product adoption is a primary goal of the new strategy. He explained that as Procore sells to a wider range of personas like CFOs and safety heads, specialized sales teams are required. He stated his belief that the growth mix will 'definitely move more towards new product' once the new model matures.

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Co-CEO Stephen Vintz detailed the R&D priorities: 1) Ingesting third-party data to expand Tenable's exposure data set for AI initiatives, and 2) Automating remediation operations. Co-CEO Mark Thurmond explained the go-to-market strategy involves mainstreaming Vulcan's capabilities into the core sales force as a key part of the Tenable One consolidation story, rather than using specialized sellers.

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CEO Todd McKinnon identified North America as the strongest geography that particularly exceeded expectations, while noting international remains a long-term growth opportunity. CFO Brett Tighe added that EMEA and the public sector also had very strong quarters, describing the performance as strong across the board. Regarding the pipeline, he stated that management is comfortable with its current state based on the guidance provided for FY'26.

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CEO Todd McKinnon confirmed that Okta is exploring pricing and packaging changes. He noted the current model is very a la carte and they are looking to introduce more simplified, tiered editions (e.g., 'good, better, best') to make it easier for customers to purchase and consume the product suite.

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CEO Matt Cohen described the channel as a 'special differentiator' and highlighted MSPs as a major growth area. He noted that MSPs were a key driver of strong new logo performance in Q4 and throughout 2024, as they increasingly adopt more of CyberArk's solution set. He added that the company remains highly enthused by the channel's ability to generate pipeline and deliver results.

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CEO Matt Cohen stated the first priority for 2025 is integrating Venafi and Secrets Management into a cohesive Machine Identity Security Solution. He outlined a longer-term vision for 2026 and beyond, where shared platform services like unified dashboards, discovery, and audit would converge the human and machine identity portfolios, providing customers with a single, comprehensive view of security.

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CFO Remo Canessa stated that Zscaler will continue to increase headcount in fiscal 2025 across all functions, including R&D, sales and marketing, G&A, and cloud operations. However, he specified that the pace of hiring will be more moderate compared to fiscal 2024, when the company added approximately 1,400 employees.

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