Derek Wood

Derek Wood asked about the components embedded in monday.com's guidance for the next year, specifically regarding customer growth, seat growth, and cross-sell versus upsell, considering the potential for agentic offerings to increase productivity without increasing headcount.

Answer

Eliran Glazer, monday.com CFO, reiterated that the guidance incorporates upmarket and enterprise customer expansion, continued multi-product adoption, disciplined investment, and improved efficiency in the go-to-market model. He stated that NDR is expected to remain flat at 110%, with no significant increase in customer numbers, but rather a focus on extracting more revenue from existing customers, leading to growing ACV and larger customers replacing smaller ones. He also mentioned a negative FX impact of 100-200 basis points on margins.

Derek Wood of TD Cowen inquired about the specific growth drivers behind Oracle Cloud Infrastructure (OCI) bookings, seeking to understand the demand mix across AI contracts, multi-cloud database services, and dedicated sovereign clouds.

Answer

CEO Safra Catz responded that growth is strong across all fronts, highlighting that multi-cloud revenue is up more than tenfold year-over-year and is expanding from 18 to 58 live regions with partners. Executive Chairman and CTO Lawrence Ellison added that the new AI data platform is a major catalyst, enabling customers to apply AI models to their vast, existing, and private data stored in Oracle databases.

Derek Wood asked for details on the key technologies unlocking the new autonomous agent capabilities, such as Raptor DB, Data Fabric, and NVIDIA's NIM advancements, and inquired about the general availability timeline for these new features.

Answer

CEO Bill McDermott highlighted three key pillars driving this new chapter. First is Now Assist, where ServiceNow has a first-mover advantage. Second is Raptor DB and the workflow data platform, which uniquely connect any data source to automated workflows. Third is a renewed focus on the front office, which he sees as a major catalyst. He confirmed that these products are not just future concepts but are rolling out now, with Now Assist and Raptor DB in 'full flight' in Q4.