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Co-CEO and CFO Stephen Vintz confirmed it was a quarter of large deals, with 135 net new six-figure customers, driven by the expansive product platform. Co-CEO and COO Mark Thurmond added that alongside large enterprise displacements, Tenable saw 'outstanding' global mid-market growth, highlighting that the Tenable One message resonates well in that segment.

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CFO and Co-CEO Steve Vintz reported that over 6,000 customers are using the AI-aware feature. He clarified that the capabilities acquired from Apex will not be sold as a standalone product but will be integrated into the Tenable One platform and treated as a securable asset type, similar to cloud or OT.

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CEO Amit Yoran explained that confidence would increase upon seeing customers resume expansion of their VM asset counts. He noted a positive current trend is that customers are willing to pay a higher ASP to procure VM through the Tenable One platform for its strategic value and enhanced analytics.

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CEO Vincent Pilette attributed MoneyLion's 45% pro forma growth to acceleration in both its Personal Financial Management (PFM) and its marketplace (NGIN) segments, driven by new customer acquisition and increased product usage. CFO Natalie Derse explained that Gen's pricing strategy focuses on delivering value through innovation and upselling customers to higher-tier memberships, rather than implementing broad list price increases, which drives ARPU growth.

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CEO Vincent Pilette attributed MoneyLion's growth acceleration to strong performance in both its Personal Financial Management (PFM) and its 'NGIN' marketplace segments. CFO Natalie Derse explained that Gen's pricing strategy is value-based, focusing on innovation and upselling customers to higher-tier memberships with enhanced features rather than implementing broad list price increases.

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CEO Vincent Pilette stated that Gen's diversified marketing strategy has not seen an immediate impact from AI in search and that the company is prepared to adapt. CFO Natalie Derse highlighted the 15% growth in indirect revenue, driven by employee benefits, and reiterated the forward-looking goal of sustainable, high single-digit growth for the overall partner channel.

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CFO Natalie Derse explained that while the overall retention rate was stable, all individual cohorts (by brand, device, and tenure) are stable to up. She emphasized that the mix of KPIs, including positive customer growth, strong retention, and expanding ARPU, is driving revenue acceleration from 3% to 4% quarter-over-quarter, aligning with their strategy to capture global demand across all channels.

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CFO Joo Mi Kim reiterated the full-year guidance for current billings growth of 6% to 8%, noting it's a good indicator of bookings. CEO Sumedh Thakar stated that while the FedRAMP High authorization is a significant long-term advantage, he does not expect an immediate revenue impact in Q3. He emphasized it positions Qualys as a modern alternative for federal agencies over the next few quarters.

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President and CEO Sumedh Thakar stated that the company's partner-first strategy is showing positive momentum, with a focus on enabling partners to provide services like risk advisory and remediation through the new mROC (managed Risk Operations Center) offering. He highlighted that this strategy extends to new types of partners, including cyber insurance companies, to create a comprehensive ecosystem.

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CFO Thomas Seifert disclosed that pool of funds deals represented a low-double-digit percentage of bookings in Q2, a substantial increase from less than 3% a year ago. He confirmed that consumption against these deals is tracking on or ahead of target, and the resulting variable revenue was a primary driver of both the quarter's outperformance and the 3-point sequential increase in the dollar-based net retention rate, which has now bottomed out and is showing positive momentum.

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CEO Yaki Faitelson confirmed that budget consolidation is a current trend and a future pipeline opportunity. He explained that customers are consolidating budgets for security, compliance, and insider threat because Varonis addresses the entire data lifecycle. The ease of expanding the SaaS platform to new data stores naturally encourages this consolidation.

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CEO Yaki Faitelson stated that while new logos are still roughly half of the business, the adoption of AI tools has put a 'spotlight on the data security problems,' making Varonis essential for enabling AI safely. He noted that with SaaS, the company expects customers to eventually protect every data repository, driving success for its DA Cloud offerings and validating investments in expanded coverage.

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CFO and COO Guy Melamed confirmed there has been no change in pricing strategy, stating that Varonis is seeing healthy uplifts on conversions consistent with the 25-30% higher SaaS price list. He reiterated that the company is proud to have reached 53% SaaS ARR within two years of announcing the transition. He believes the opportunity to sell more platforms to converted customers remains strong, which is a key reason for accelerating the transition to 2025.

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CFO & COO Guy Melamed explained that MDDR is sold as part of a bundle, encouraging customers to buy more of the platform to get MDDR at a reduced price, which ultimately increases average selling prices (ASPs). He noted that while MDDR adoption is strong after only two full quarters on the market, the company is not quantifying it separately yet. The goal is for every customer to eventually have MDDR, as it provides significant value and helps shorten sales cycles.

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CEO George Kurtz explained that significant investment in the MSSP channel over the past few years has made it easier for partners to deploy and manage CrowdStrike. He stated that the company is meeting strong underlying demand from SMB customers through these partners and is now winning competitively in a market segment where it was previously less focused, underscoring a "partner first" mentality.

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CEO George Kurtz highlighted the company's history of durable growth and multiple growth vectors like cloud, identity, and SIEM. CFO Burt Podbere clarified that the company remains committed to reaching $10 billion in ending ARR by the end of fiscal 2031, which was within the original long-term guidance range.

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CEO Jay Chaudhry stated that the success of the branch solution has exceeded his expectations. He attributed it to the new plug-and-play appliance that integrates device segmentation, which dramatically simplifies branch infrastructure by replacing legacy firewalls and SD-WAN. He shared an anecdote of a customer expanding a pilot from 100 to 1,000 branches, underscoring the solution's value.

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CEO Jay Chaudhry described the deal as a monumental win driven by the need for superior cybersecurity rather than ROI. The deal secures the entire government workforce with Zscaler's user protection platform. He confirmed that Zscaler is pursuing similar opportunities with other U.S.-friendly nations but cautioned that government deals can be lumpy and have long sales cycles.

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CEO Jay Chaudhry clarified that data protection is predominantly an upsell opportunity within the large existing ZIA and ZPA customer base. While some new prospects do show initial interest in data protection, he stated these instances are relatively small. He noted that other emerging products, such as Zero Trust device segmentation or Avalor, are more common drivers for landing new logos outside of the core platform.

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CFO Remo Canessa explained the guidance reflects the time needed for new sales hires to reach full productivity, which is expected in the second half of the year. He highlighted strong visibility into a second-half acceleration, with contracted billings from prior deals scheduled to grow 7% in H1 but 23% in H2. He also cited a strong pipeline and innovation in emerging products as key drivers, while acknowledging a challenging macro environment.

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CEO Todd McKinnon confirmed that federal conversations are different, with a strong focus on efficiency. He sees this as an opportunity, as Okta can provide superior and more efficient solutions than legacy systems, which is driving their success. While there is an added layer of scrutiny in federal, he remains confident in Okta's ability to win, as demonstrated by strong Q1 deal activity.

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CFO Brett Tighe responded that they feel good about the current capacity and are focused on finding the right balance between growth and rep productivity. He indicated they are in a good spot and want to ensure the "porridge is just right" rather than over-investing in one direction.

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CEO Matt Cohen responded that sales cycles have not changed and were actually slightly better in Q1. He explained that their go-to-market motion avoids 'rip and replace' complexity by building long-term roadmaps and often expanding into net-new areas like machine identity or layering controls on top of existing systems, which allows customers to adopt the platform efficiently.

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CFO Erica Smith acknowledged that conversion deals take time to materialize but stated there is still a significant opportunity within the $186 million organic maintenance ARR base. She expects a healthy pace of conversion activity that is likely to pick up as 2025 progresses.

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CEO Matt Cohen noted that while post-quantum planning is a key part of Venafi conversations, focusing on crypto-agility, actual implementation is still years away. Deputy CFO Erica Smith confirmed strong maintenance renewal rates but guided for a sequential decline of $8 million to $10 million in maintenance ARR for Q4, which is typical for the large renewal cohort in that quarter.

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CEO Corey Thomas clarified that Rapid7's strategy is not to compete for new logos in the expensive CNAPP market. Instead, the focus is on a more efficient, economically leveraged approach of upgrading its large, underpenetrated installed base. The goal is to achieve a moderate uplift from this base, which would stabilize the risk management business and allow the company to capitalize on the strong growth of its D&R offerings.

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CEO Corey Thomas characterized the MDR space as fragmented and competitive, noting that Rapid7 is also investing heavily, both directly and through partnerships. He argued that the primary customer need is to monitor 100% of their complex environment, which makes an integrated solution the most powerful. He believes Rapid7's value proposition of providing the widest visibility across the attack surface remains strong in this evolving landscape.

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CFO Roei Golan did not provide specific guidance but noted a 2-point headwind to Q2 billings from large upfront deals in the prior year. He expects billings to grow in line with revenue. The caution in guidance is primarily for product revenue, which closes late in the quarter, but he noted a strong pipeline and expects an acceleration in the Quantum Force refresh in the second half of the year.

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CEO Nadav Zafrir outlined the vision for cloud security as creating a single, unified policy across a customer's entire network estate, including on-prem, branch, and multi-cloud environments. He stated the focus will be on cloud network security and WAF, integrating them into the broader hybrid mesh architecture.

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Founder and CEO Gil Shwed explained that while Check Point is looking at the SIEM market, he is not convinced it's a simple entry point or that the company currently has a clear opportunity to be a leader. Instead, he believes the Cyberint acquisition provides a more unique and valuable entry into the SOC market with a distinct value proposition that can show results quickly.

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CEO F. Leighton explained that the customer, who already uses Akamai for media applications, is expanding its usage and requires a special data center build-out in Scandinavia to serve its European operations. Leighton highlighted that the customer chose Akamai for its superior performance and favorable pricing, which is enabled by Akamai's extensive and efficient European network.

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CFO Dipak Golechha explained that while some customers are committing to longer-term platform deals, others are opting for shorter renewals to maintain flexibility for future innovation. This creates a mixed dynamic, resulting in renewal durations trending only 'slightly up, but nothing significant' at the aggregate level.

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