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CEO Mark McClain explained that IGA is fundamentally designed to answer complex authorization questions for AI agents, such as 'what does it have access to?' and 'is it performing as expected?', which access tools cannot. CFO Brian Carolan added that while they are mindful of the macro environment, they have not built any specific headwinds into the guidance.

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Founder and CEO Mark McClain argued that classic IAM (SSO/MFA) is human-centric and not applicable to agents. He explained that agents possess a hybrid nature, acting autonomously like humans but existing as non-human entities like machines. He asserted that SailPoint's deep expertise in governance—understanding identities, defining access, and enforcing least privilege—is uniquely suited to manage this complexity, a view he says is being validated in discussions with hyperscalers.

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CEO Vlad Shmunis delineated the products by target audience: the NICE partnership serves high-end enterprises with complex needs, while RingCX is an AI-native solution for smaller, simpler use cases. CFO Vaibhav Agarwal addressed the growth and profitability balance, stating the company has durable growth drivers and will continue to expand margins and free cash flow through operating leverage and cost discipline, with a primary goal of maximizing free cash flow per share.

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CEO Vlad Shmunis explained that guidance was reiterated out of prudence due to general macro uncertainty, not because of any observed weakness. Regarding go-to-market, he highlighted that GSP partners are eagerly reselling the new AI products, providing a tremendous and efficient channel to market for the expanded portfolio.

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CEO & Chairman Mike Burkland identified getting data in order as the primary hurdle for customers, a process Five9 assists with. He pointed to AI comprising over 20% of new enterprise bookings as a leading indicator of future revenue mix. On pricing, he stated that AI solutions are primarily sold on a consumption or capacity basis, while traditional product pricing remains unchanged and simple, which customers appreciate.

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Executive Michael Burkland highlighted that top-line initiatives include increased investment in AI products and new top-of-funnel marketing pilots. President Bryan Lee added that the guidance was stress-tested by assuming a more muted seasonal uptick in the second half of the year, effectively creating a cushion by not flowing the Q1 revenue beat through to the full-year forecast.

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CEO Michael Burkland noted AI revenue growth accelerated to 46% year-over-year and that strong bookings are a positive leading indicator for its trajectory. CFO Barry Zwarenstein confirmed that a 3x pricing uplift versus a traditional seat is still a reasonable order of magnitude for the value captured, particularly for IVAs, with additional revenue potential from data streams.

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CFO Grant Highlander expressed confidence in the ARR ramp, citing a 30%+ year-over-year increase in the rolling four-quarter SaaS pipeline. While not providing a specific net retention number, he stated that achieving 8% ARR growth implies a Net Retention Rate 'well above' 100%. CEO Dan Bodner added that the macro environment has intensified customer focus on projects with a clear, short-term ROI (less than six months), which aligns with Verint's value-selling approach and hybrid cloud model that allows for small initial deployments.

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CEO Dan Bodner explained that the delays were not due to macro or budget issues, but rather customers choosing to reallocate funds towards bundled AI solutions that offer more immediate ROI. He noted this customer flexibility makes the revenue mix hard to predict, necessitating a wider revenue guidance range. CFO Grant Highlander clarified that the pushed deals were expansions with existing customers, not renewals, related to changes in the timeline for rolling out software to additional business units.

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CEO George Kurtz outlined a vision to leverage CrowdStrike's existing agent presence on critical systems to expand deeper into identity security. He noted strong customer demand for consolidation and cost savings in this area. The strategy is to continue adding capabilities to the platform to capture a larger share of the significant identity TAM, displacing expensive point solutions.

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CFO Michelle Chang positioned the frontline worker product for the large, underserved market of deskless workers, focusing on communication, workforce management, and AI assistance. For the custom AI Companion, she stated that while there is strong early interest, its revenue contribution is not expected to be a 'movable number' in fiscal 2026 given the company's overall scale.

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CEO Eric Yuan stated that the company is now more aggressive on the M&A front, viewing it as a way to quickly add new services and features to the platform, especially in the fast-moving AI era. CFO Kelly Steckelberg noted that while Contact Center's performance is strong, it is still early in its life cycle (second year) and will not have its revenue disclosed until it reaches the 10% of total revenue threshold, similar to the precedent set by Zoom Phone.

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CEO Eric Yuan stated that Zoom's platform is essential for collaboration regardless of a company's work model. CFO Michelle Chang noted the paid AI SKU is aimed at enterprises, with more significant revenue impact expected in FY27. Eric Yuan added that use cases include custom templates and third-party integrations.

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CEO Samuel Wilson noted that March and April saw some 'chaos' in the U.S. market due to tariff uncertainty, leading to elongated deal cycles or smaller deal sizes, but May has been calmer. He stated the go-to-market rebuild is about 60-70% complete, with the current phase focused on fine-tuning the new solution-selling processes. CFO Kevin Kraus confirmed that core 8x8 service revenue grew 4.6% year-over-year in Q4 and that growth, excluding Fuze, would be positive in fiscal 2026.

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CEO Samuel Wilson declined to share specific ROI calculations publicly but confirmed they are monitored carefully and that the investments are targeted, not general. CFO Kevin Kraus added that the focus is also on improving investment efficiency. Regarding multi-product adoption, Wilson explained that the key add-ons to UC and CC are Engage, proactive digital messaging, and intelligent bots, which are often sold as part of a solution to a specific business problem like field service management.

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CEO Samuel Wilson explained that AI is monetized through sell-with and sell-through partnership models, as well as by landing customers with a simple use case on a platform and then expanding usage over time. Regarding Fuze, Wilson stated the goal is to transition the maximum amount possible, though he did not provide a specific percentage. He confirmed that incentives are offered to both customers (e.g., free trials of new AI products) and the sales team to accelerate the migration.

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CEO Elad Sharon explained that U.S. demand drivers are similar to global ones, focusing on crime and border control, and detailed disproportional investments in the U.S. go-to-market strategy, including hiring local teams, expanding partner networks, and adding board expertise. CFO David Abadi deferred long-term targets to the upcoming Investor Day but emphasized the business's healthy fundamentals, pointing to the projected 45% EBITDA growth on 12% revenue growth for fiscal 2026 as evidence of the model's leverage.

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CEO Elad Sharon addressed R&D, explaining that the growth of 5G increases data volumes, driving customer demand for expanded capacity and advanced AI analytics to uncover insights. CFO David Abadi discussed the FY26 outlook, highlighting the model's leverage where revenue and gross profit are expected to grow faster than operating expenses, leading to improved profitability. Elad Sharon added that the U.S. market continues to be a growth opportunity, with positive customer feedback and follow-on orders indicating continued expansion in FY26 and beyond.

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CEO Todd McKinnon explained that the industry currently lacks a universal definition or way to account for an 'agent,' which is an opportunity for Okta to help define. He noted that while a specific ratio is not yet clear, the volume of machine-to-machine interactions is already significantly higher than human ones and could grow by two orders of magnitude with AI. He suggested monetization could occur on both sides: for those building agents and those using them, with Okta providing a neutral, pre-integrated solution.

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CEO Todd McKinnon highlighted a new product, 'Auth for Gen AI,' designed to provide secure authentication for AI agents, preventing insecure credential storage. He explained this is a key monetization path, likely priced per active machine, similar to their existing machine-to-machine offerings. He also noted that AI drives demand for existing products like Identity Threat Protection and core login services for new AI applications.

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CEO Vincent Pilette detailed plans to embed Genie's anti-scam technology into Norton 360 plans, with monetization coming from up-sells to higher tiers and a stand-alone 'Genie Pro' option. He added that the employee benefits channel continues to grow double-digits with a strong funnel and that pricing is an enterprise agreement on a per-seat basis, slightly below direct consumer pricing.

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