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Co-Founder and CEO Dustin Moskovitz stated that AI Studio's value lies in its native integration within Asana workflows, which leads to higher success rates. He noted that while it will take time for Studio revenue to eclipse large seat-based contracts, compounding usage and new features are positive catalysts. CFO Sonalee Parekh clarified that the Q1 FX impact was minimal. She stated that while the large renewal will impact the tech vertical, the non-tech business, representing over 70% of revenue, continues to grow healthily in the mid-teens.

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CEO Peter Gassner clarified that the unease is based on personal conversations, not financial results. He explained it's multifaceted: large pharma is concerned about drug approval timelines and potential impacts on M&A from policy changes, while smaller biotechs are worried about the future funding environment and interest rates, leading them to consider being more conservative.

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CEO Peter Gassner shared that customers are moving from broad AI experimentation to focused, ROI-driven projects. He emphasized that for large customers, AI is a significant part of the Vault CRM decision, as Veeva offers the fastest path to implementing useful, in-workflow AI capabilities compared to a custom build on another platform.

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CEO Sasan Goodarzi explained that pricing power comes from delivering value, noting that as customers adopt more of the Intuit platform, they often save money by eliminating other applications. This value exchange, where customers get more benefit for less total spend, provides significant pricing opportunity. He stated that confidence in GBSG growth stems from winning in small business and mid-market, expanding services, and getting Mailchimp to be accretive to growth.

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CEO Sasan Goodarzi explained that pricing power comes from delivering value, noting that customers often save money by consolidating other applications onto Intuit's platform. This makes Intuit a price disruptor for larger customers. He expressed confidence in long-term GBSG growth driven by winning in small business and mid-market, expanding services, and eventually having Mailchimp become accretive to growth.

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CFO Michelle Chang clarified that the current outlook assumes a macro environment consistent with what was observed in Q1. Regarding the net dollar expansion rate, she highlighted its stability over the past four quarters but did not provide a specific timeline for it to reach 100%, stating that current performance is in line with guidance.

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CFO Michelle Chang explained that deferred revenue growth was driven by tightening discount practices and lengthening billing terms, trends she expects to continue. She affirmed that her guidance philosophy is consistent with Zoom's historical approach and reiterated that total revenue is a more reliable indicator of business performance than deferred revenue, which can fluctuate quarterly.

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Co-CEO Roy Mann explained that AI adoption is currently led by tech-oriented 'champions' who experiment with AI blocks, and the company is now working to productize these use cases for broader adoption. CFO Eliran Glazer stated that based on core performance, the company remains in its 'base case' from the Investor Day model, though it is taking a more conservative approach to guidance.

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co-CEO Roy Mann stated that it was too early to predict future spending patterns, describing it as a 'predicting the future' question. He explained that since the AI pricing model was just released, the company needs to gather more customer usage data before it can provide a reliable forecast on relative spending.

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CFO Joe Del Preto explained that the guidance reflects a measured approach assuming a stable macro environment. He clarified that the sequential decline in deferred revenue was due to the burn-off from an unusually large volume of annual and multi-year deals signed in Q4, which created a larger-than-normal sequential impact.

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CEO David Ossip emphasized that the SI ecosystem is a crucial part of their strategy, with specific targets for SI involvement in sales and projects. He explained that Dayforce uses a tiered approach, engaging large Tier 1 partners like E&Y for enterprise deals and other specialized SIs for mid-market accounts. This strategy allows Dayforce to scale its services organization efficiently and helps build the sales pipeline, with management encouraged by current trends.

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CFO Joe Binz clarified that Q3 cloud revenue growth of 25% was better than expected, driven by paid seat expansion and migrations. He explained the smaller beat compared to H1 was due to Q3 being a seasonally slower quarter, contrasting with exceptionally strong execution in Q1 and Q2, along with some negative mechanical impacts from Data Center and Marketplace revenue.

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CFO Ryan Glenn stated that while the guidance philosophy will remain consistent (with more prudence for the full year), the magnitude of FY25's overperformance shouldn't be the baseline expectation. He also reiterated that Airbase's contribution is expected to be roughly 1% of total revenue for the fiscal year.

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