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CEO Michael Intrator confirmed that infrastructure from expired contracts is being successfully re-contracted for additional terms of one to three years, primarily to serve inference workloads. He pointed to the long-term OpenAI contract as evidence of the extended useful life and continued demand for previous-generation compute hardware.

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CEO Michael Intrator reported that older infrastructure, including H100 and A100 GPUs, is being successfully re-contracted for additional terms of one to three years. These repurposed assets are primarily being used to serve growing demand for inference workloads, demonstrating the long useful life of the hardware.

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CFO Nitin Agrawal explained that the near-term margin impact is due to the significant scale of infrastructure being brought online ahead of revenue generation. He contextualized this by stating the company expects to more than double its life-to-date deployed power by the end of the year to meet customer demand, which causes a temporary drag on margins.

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CEO & Co-Founder Mike Cannon-Brookes responded that Atlassian is already seeing significant momentum in tool consolidation. He outlined a multi-pronged strategy: the broader appeal of the Teamwork Collection, usability enhancements in products like Jira for business teams, the adoption of Loom and Trello in non-technical departments, and new AI capabilities like Robo search that connect disparate business systems. He stressed that this expansion is happening alongside continued growth in technical teams.

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CEO Mike Cannon-Brookes explained that momentum is building through tool consolidation. He highlighted several factors driving business team adoption: the broader Teamwork Collection offering, usability improvements in Jira, the appeal of Loom for business teams, and AI capabilities like Robo search that connect workflows across third-party tools. He stressed that this expansion is happening alongside continued growth in the core technology teams.

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CFO Joe Binz confirmed that enterprise deals landing later than expected did impact Q3 cloud revenue, with that revenue expected to be recognized in Q4. For Data Center, he stated growth was driven by pricing but partially offset by cloud migrations and fewer multi-year deals, which reduced upfront revenue recognition in the quarter.

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CEO Mike Cannon-Brookes asserted that it is not challenging to get in front of C-level executives; rather, they are actively pulling Atlassian into strategic conversations. He shared that executives at the world's largest companies are looking to deepen their partnerships with Atlassian due to its innovation speed and the platform's ability to solve complex collaboration challenges between technical and business teams.

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CEO Mike Cannon-Brookes stated there have been no major structural changes, attributing the innovation velocity to a long-term focus on developer productivity and, crucially, the maturation of the underlying cloud platform. He explained that this mature platform, built over many years, now enables the company to build more sophisticated products like Focus and Rovo faster and more efficiently, and to integrate acquisitions like Loom more quickly than ever before.

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CEO Jay Kreps characterized the LinkedIn situation as a 'non-issue,' explaining that LinkedIn has very custom internal infrastructure, made the change long ago, and their system is not open source, posing no competitive threat. On the competitive front, Kreps stated there has been no huge change in the dynamic. In fact, he believes Confluent's position against cloud provider offerings has strengthened, and new offerings like Freight and Enterprise Clusters are opening up new workloads and creating a significant opportunity.

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CEO Jay Kreps reported 'really nice customer wins' for WarpStream, from both its existing pipeline and new Confluent-generated leads, stating it 'hit the ground running.' CFO Rohan Sivaram explained the guidance is prudent because it does not assume a near-term rebound in consumption, which is a departure from historical patterns. He added that the forecast does not rely on any back-half acceleration, providing a conservative setup.

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CEO Jay Kreps responded that this is not a major concern, viewing the diverse portfolio as a strength. He explained that having a tailored solution for every workload and TCO requirement is a sign of maturity for a cloud infrastructure provider and allows Confluent to present a superior offering across the board, which ultimately simplifies the customer's decision.

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CFO Rohan Sivaram did not quantify the benefit but stated they would have 'very handily' beaten expectations without it, attributing the strength to underlying business drivers. CEO Jay Kreps confirmed there is an opportunity for on-prem Platform customers to use WarpStream as a stepping stone to a more managed cloud offering, though it's not the initial target market.

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Chairman & CEO Bill McDermott stated he feels 'fantastic' about the go-to-market team, describing the new leaders as proven executives with the scale experience ServiceNow now requires. He highlighted the strength of the new leadership in APJ and the Americas, the deep talent bench, and his confidence in Paul Phipps as the global field general.

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CEO Bill McDermott confirmed he expects a 'nice second wave' from this trend, as Pro SKUs continue to perform well. He noted that the value proposition is so strong that customers don't hesitate at the premium for Now Assist. He also identified the new Raptor DB as another significant global upsell opportunity, given the immediate and substantial performance improvements it offers, which customers are eager to adopt.

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CEO Bill McDermott confirmed he expects a "nice second wave" of upgrades. He noted that Pro continues to do well, and the value proposition of Now Assist is so strong that customers don't hesitate at the premium. He also identified the new Raptor DB as another significant global upsell opportunity, creating multiple avenues for customers to increase their investment for substantial performance benefits.

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Co-Founder, CEO & Chairman Bipul Sinha confirmed that identity is a key area of investment, with a focus on identity security rather than identity infrastructure. He reiterated the strategy is to combine data and identity security capabilities to provide a complete understanding of business risk. Sinha framed the long-term vision as delivering 'the right data to the right user at the right time on the right platform for the right duration,' indicating continued innovation in this area.

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CEO Bipul Sinha described regulatory requirements like DORA as a significant secular tailwind for the business, as they are a high priority for CISOs. He confirmed that Rubrik's cyber resilience and recovery capabilities help customers meet these compliance mandates. To illustrate, he cited a recent win with a European insurance company where DORA was a key factor in the purchasing decision.

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CEO Bipul Sinha responded that while it's too early to gauge the direct financial impact of the outage, it is anecdotally prompting more board-level conversations about resilience. Regarding Ruby AI, he described it as a generative AI agent included with the Enterprise Edition to boost productivity for IT and security teams. He clarified it is a core part of the platform's value proposition and not a separately monetized product.

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CEO Todd McKinnon agreed that the industry is just beginning to move from AI proofs-of-concept to production. He explained that agentic workflows amplify the existing, often-overlooked problem of non-human identities (NHIs). Therefore, Okta's products for discovering and securing NHIs are relevant now, even for customers in the POC stage, and he expects adoption to accelerate as more AI projects go live.

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CEO Matt Cohen stated that 'the moment is now' for closing this gap because CISOs are getting directly involved and demanding central authority over machine identity security, which was previously left to developers. He explained that CyberArk's role is to empower the CISO to gain this control, which is a more effective approach than general market education.

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CEO Matt Cohen explained that while the machine identity market opportunity resonates strongly with partners, enablement takes time. He estimated it takes one to two quarters to train the channel, and with a 6-to-9-month sales cycle for Venafi, significant channel impact is expected in the second half of the year, accelerating into 2026. He added that the 'flywheel is starting to kick in,' with some partners already contributing to Q4 business.

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CEO Corey Thomas attributed the caution to general economic uncertainty, noting that the mid-market historically reacts faster to economic pressures. He explained that the specific concerns vary by industry—such as tariffs for manufacturers or margin pressures for healthcare—but the overall effect is a tendency to pause and wait, which is a pattern consistent with previous economic cycles.

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CEO Corey Thomas confirmed that the company's strategic plan is designed for multi-year growth acceleration. He stated, "We do expect to see accelerated growth in 2026 off the base of this year, and that's why we're making the investments that we're making." He later clarified the expectation is for acceleration in 2025 over 2024, and again in 2026 over 2025, driven by D&R and expansion opportunities.

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CEO Corey Thomas articulated that Rapid7's strategy is to be a 'focused consolidator' for security operations. He asserted that the company is best-in-class at collecting and integrating the most diverse data—from on-prem to cloud to third-party telemetry—to provide a complete view of the attack surface. This focus, combined with better economics and a superior value proposition in SecOps, is their key differentiator and path to long-term success.

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CEO Olivier Pomel confirmed there is one particularly large customer in the AI-native cohort but noted that growth is also occurring across the rest of the cohort. CFO David Obstler stated that once sales reps are fully ramped, their productivity is tracking as expected and is similar to historical levels, giving the company confidence to continue adding capacity in targeted territories.

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Founder and CEO Mark McClain predicted a market bifurcation. He sees the SMB space consolidating around IAM vendors, while the enterprise market will commoditize basic access (SSO/MFA) and prioritize strategic governance. He believes that as non-human identities grow, customers will want a single, consolidated platform for their entire identity landscape, positioning SailPoint favorably to be that strategic provider.

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CEO Jay Chaudhry clarified that the primary focus remains on large enterprises. He shared that over 130 enterprises have already adopted the 'Zero Trust Everywhere' framework, and the company has an ambitious goal to triple this number in the next 18 months. The initiative is gaining traction as CIOs look to avoid costly and complex legacy firewall refresh cycles.

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CEO George Kurtz expressed strong optimism, stating he 'only see[s] it going up.' He attributed the success to the strong AWS partnership and noted that customers prefer using their cloud commitments to procure security. He identified significant future growth opportunities internationally and also pointed to strong performance with other partners like Google Cloud Platform, calling marketplaces a 'future way' for procurement.

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CFO Burt Podbere attributed the strong RPO growth primarily to longer deal durations. He explained that initiatives like the Customer Commitment Packages and CrowdStrike Financial Services are encouraging customers to sign larger, longer-term contracts, which is directly reflected in the higher RPO figures.

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CEO George Kurtz framed the strategy as doing the right thing for customers and solving their business problems. He emphasized that driving greater platform adoption is the goal, as historical data shows that customers who use more modules see more value, which benefits CrowdStrike in the long term.

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CEO William Staples conveyed his belief that AI will become an indispensable part of the developer experience across every stage of the software lifecycle. By stating that in a few years, developers will not be building software without AI, he implied an expectation of broad, wall-to-wall adoption rather than a selective, mix-and-match outcome.

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CEO Sid Sijbrandij confirmed that GitLab is increasingly leading with Ultimate in its sales approach. He explained that while it's the most expensive product, it offers the highest ROI (482% according to a Forrester study) because it enables customers to consolidate the most point solutions. The value comes from deprecating legacy tools and improving efficiency, making Ultimate the most compelling starting point for new customers.

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Chairman and CEO Nikesh Arora identified the 'elimination of execution risk' as the most successful tactic. By allowing customers to begin deployment immediately while paying only after their legacy vendor contract expires, Palo Alto Networks removes a major barrier to switching. He referred to this as a 'golden bear hug' that significantly de-risks the transition for customers.

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CFO Roei Golan reported that RPO grew by 8% in Q3. He clarified that while the Cyberint acquisition had no P&L effect in Q3, it did add approximately 1.5 points to the calculated billings growth figure due to its impact on the balance sheet.

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