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CEO Carl Eschenbach expressed confidence, citing the strong ROI and TCO of Workday's platform, which resonates in any economic climate. He highlighted progress in key initiatives like AI adoption (100% YoY growth), full-suite wins (over 30% of new deals), and partner-sourced ACV (over 20%). CFO Zane Rowe added that Q1 results beat guidance, and the company expects a tailwind from FX. He also noted that revenue growth is expected to accelerate in the second half due to product deliverables.

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CEO Carl Eschenbach explained that Workday's value proposition around ROI and platform consolidation remains strong in any economic climate. He cited progress in AI adoption, full-suite wins, partner contributions, and momentum in the U.S. federal sector as reasons for confidence. CFO Zane Rowe added that a strong Q1 performance, favorable FX shifts, and expected revenue from product deliverables in the second half of the year also support the reiterated guidance.

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CFO Zane Rowe explained that the FY26 guidance does not assume a meaningful revenue contribution from the newest AI agents, which are still rolling out. He noted a $20 million FX headwind but confirmed that strong Q4 performance improved visibility. CEO Carl Eschenbach specified that while existing AI products are contributing, the four newest agents will not be generally available until the second half and are not expected to materially impact FY26 revenue.

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CFO Zane Rowe explained the issue involves delayed revenue recognition for key strategic deals, impacting Q4 by $8-10M but contributing to H2 FY26 growth. CEO Carl Eschenbach added context on the strategic importance of these deals, like with the Defense Intelligence Agency. Regarding the new hire, Eschenbach expressed high confidence in a smooth transition, citing a long-standing relationship with Rob Enslin and a six-month overlap with the retiring executive, ensuring no disruption.

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CEO Carl Eschenbach detailed several areas for efficiency, including a global workforce strategy, prudent hiring focused on quota-carrying roles and R&D, and internal use of AI. He noted that prior investments in partners and the financial sales force are now scaling efficiently. CFO Zane Rowe added that all investments are viewed with an ROI mentality, allowing for both margin expansion and growth.

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CEO Sridhar Ramaswamy attributed the success to both factors, highlighting the need for great products that drive utility, like Snowpark, Dynamic Tables, and Iceberg support. He also emphasized the role of a specialized go-to-market motion, led by new sales leaders, which identifies high-value use cases and pioneers implementations with flagship customers and GSI partners.

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CFO Mike Scarpelli stated the main change to the sales comp model is reintroducing a quota on total contract bookings, although the bulk of variable compensation will still be based on consumption revenue. CEO Sridhar Ramaswamy explained that Snowflake is seen as the central repository for analytic and predictive value, with bidirectional integrations with partners like Salesforce and ServiceNow. EVP of Product Christian Kleinerman added that Snowflake is actively working with SAP on its business data cloud product, reinforcing a commitment to an open data environment.

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CEO Sridhar Ramaswamy described agents as a powerful tool for creating customer value by automating complex tasks, comparing them to "21st-century CRON jobs," and stated that this value creation will naturally drive consumption. CFO Mike Scarpelli confirmed Snowflake is well-positioned internationally, focusing on the high-end and mid-market in Europe and seeing strong growth across APJ, particularly in Japan, India, and Korea.

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CEO Sasan Goodarzi clarified that the company's primary focus remains on upgrading its large existing customer base to QBO Advanced and IES. He described the 'boomerang' example as an instance of positive word-of-mouth, which is happening more frequently but is still a smaller part of their growth. He emphasized that the core strategy of focusing on their own base is unchanged, though it indicates future potential for hunting outside the base.

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CEO Sasan Goodarzi clarified that the company's primary focus remains on upgrading its existing customer base to QBO Advanced and Intuit Enterprise Suite. He explained that the 'boomerang' example is an illustration of word-of-mouth and future potential as they begin to target customers outside their base, but this is not yet the main growth driver. The core strategy of focusing on the internal base is unchanged.

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CEO Sasan Goodarzi reported that smaller businesses (up to 10 employees) are seeing year-over-year profit and cash flow growth on Intuit's platform. He noted that larger mid-market customers are actively leaning into digitization with solutions like the Intuit Enterprise Suite to drive growth and efficiency, indicating a healthy environment that improves with business size.

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CEO Sasan Goodarzi clarified that the fiscal 2025 guidance does not assume any revenue contribution from Intuit Assist. However, he highlighted its significant momentum, with approximately 1 million businesses already engaging with the AI tool for tasks like creating marketing campaigns and digitizing invoices. He explained that Intuit Assist is foundational to the company's 'done for you' strategy and is expected to be a major future growth driver by increasing new customer acquisition and accelerating the adoption of monetizable services.

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CEO Yamini Rangan detailed extensive internal AI adoption. In Q1, AI resolved 41% of support tickets, helping keep support headcount flat for 18 months. AI also booked nearly 11,000 sales meetings and improved marketing email conversion rates by up to 80%. In R&D, developers are using AI tools like GitHub Copilot and Cursor to accelerate innovation. Rangan framed these initiatives as drivers of mid-to-long-term efficiency and a source of best practices that can be shared with customers.

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CFO Kathryn Bueker stated that net new customer additions are expected to remain in the 9,000 to 10,000 range for the next couple of quarters, with a more balanced mix of starter and pro/enterprise customers. As a result, she guided for ASRPC to stabilize in the near term and then return to low single-digit growth in the second half of 2025.

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CFO Kathryn Bueker responded that the pressure on NRR is consistent with recent quarters and is broad-based across all upgrade motions, including edition upgrades, cross-sell, and contact tier upgrades, rather than being specific to any one hub. She noted positives remain strong customer dollar retention and stabilizing downgrades, with green shoots in seat upgrades, and expects similar trends in Q4.

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CEO Olivier Pomel clarified that for AI natives, Datadog primarily helps monitor customer-facing inference workloads, as training is often done with homegrown, one-off systems. Regarding internal AI use, he and CFO David Obstler explained that current productivity gains are being reinvested to produce more, as the company is constrained by engineering and sales capacity. They believe AI will be a major long-term driver of efficiency.

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CEO Olivier Pomel described the federal sector as a huge, early-stage opportunity with significant upside. He mentioned key customer wins and noted that Datadog is still building its go-to-market capacity for government. He also highlighted ongoing product investments to achieve higher-level certifications like FedRAMP and IL5 to capture more of this market.

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CFO Amy Hood explained that the non-AI Azure outperformance was driven by better-than-expected results from their largest enterprise customers and some improvement in their 'scale motions,' though work remains there. She noted consistent performance across geographies and attributed the success to improved execution by sales and partner teams on workloads like data and migrations.

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CEO Michael Gianoni clarified that current AI features, including the upcoming Blackbaud Copilot, are included in subscription pricing to add value. However, the company is exploring future monetization models for more advanced 'Agentic AI'. CFO Tony Boor confirmed that recent currency movements are favorable and could provide a 'tailwind' to reported results if they persist.

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CEO Mike Gianoni detailed the company's extensive AI initiatives, noting that over 5,000 customers have already adopted machine learning features in Raiser's Edge NXT. He announced the upcoming Blackbaud Copilot, which will enable natural language queries to drive actions and insights. While current AI features are included in base products, he confirmed that the company is actively exploring future monetization opportunities for more advanced AI capabilities.

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CEO Mike Gianoni stated that net new logo acquisition is performing well and is up year-over-year, noting the primary source of softness in overall bookings is EVERFI. EVP and CFO Anthony Boor clarified that the divested EVERFI services business accounted for a revenue reduction of approximately $6 million for the full year.

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President and CEO Lynn Moore stated that key health indicators like RFP and demo activity remain stable at elevated levels, showing no significant macro impact. CFO Brian Miller confirmed the change in ARR was tied to the timing-related decline in SaaS bookings for the quarter.

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President, CPO and COO Amit Zavery reported very positive feedback, citing Adobe as an early adopter. He explained the hybrid pricing model, where customers buy a subscription for Now Assist credits and burn them down with usage. This approach provides customers with both flexibility and predictability, which has been well-received.

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CEO Allan Thygesen described the IAM uplift as 'very meaningful' but declined to provide specific numbers, emphasizing that the value proposition is strong and sales reps are required to secure an uplift. CFO Blake Grayson clarified that the 'flat' dollar net retention forecast was specific to Q1, with moderate gradual improvement expected throughout the year, driven by further gross retention gains and expansion opportunities from IAM.

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Executive Chairman and CTO Lawrence Ellison confirmed this, citing healthcare as an example where AI agents that automate clinical notes and insurance authorizations are a key differentiator driving sales of entire health systems. He stated that all Oracle applications are evolving into AI agents. CEO Safra Catz agreed it is a major motivator for cloud migration, as the embedded AI in Fusion applications delivers massive productivity gains and business insights.

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CEO Safra Catz confirmed that significant new capacity is scheduled to come online in the second half of the fiscal year, which will translate into accelerated revenue growth. She also noted that while this new capacity will help fulfill existing RPO, she expects the total RPO balance to increase further in Q3 due to the signing of several very large new contracts.

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CEO Peter Gassner expressed confidence in the services ecosystem, noting that Veeva's internal team and partners like Accenture can flex to meet demand, aided by automation tools like the data migrator. He added that while significant industry disruption could delay contracts, they have seen no signs of it yet and any impact would likely be a delay, not a loss.

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President and COO Brian Millham confirmed this effect, stating it makes every core application better and more intelligent. He used the Lennar customer example to illustrate how Agentforce-generated leads flow directly into the core Sales Cloud, reinforcing the value of the 'trinity of apps, data, and agents.'

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COO Brian Millham responded that the timeline varies significantly. Customers with a mature data strategy can see value in "weeks even," while those with siloed data may take "6 months even" to harmonize their information in Data Cloud. Millham emphasized that the need to power AI is creating urgency among all customers to unify their data, driving strong demand for both the technology and related implementation services.

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CEO Marc Benioff stated that customers can get started with Agentforce 'almost immediately,' highlighting high customer satisfaction scores from early trials. He clarified that while Data Cloud is not a prerequisite, it is highly encouraged because it significantly improves accuracy. Benioff stressed the value of Salesforce's single, integrated platform, contrasting it with the risky and often unsuccessful DIY AI projects he sees customers attempting.

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CEO Githesh Ramamurthy clarified that the EvolutionIQ team will continue to sell into its existing pipeline. The broader CCCS sales team will begin selling EvolutionIQ's capabilities once its medical summarization AI is integrated into the CCCS Casualty suite. Regarding internal AI use, CFO Brian Herb noted they are in the early stages. Ramamurthy added a specific example, stating that AI is proving effective at accelerating the creation of test cases in software development.

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CEO Githesh Ramamurthy explained that new product adoption is gated by the customer's internal processes for piloting, testing, and calculating ROI, not a macro issue. He noted that while claim volumes are soft due to consumer reluctance to file claims amid higher premiums, this is a cyclical trend expected to normalize. The company's focus remains on the breadth of its solutions rather than just claim frequency.

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CEO Sanjit Biswas confirmed they use feedback loops for both geographies and verticals, noting that while 80% of customer needs are horizontal, 20% require specific features that guide investment, such as the Asset Tag for construction. CFO Dominic Phillips stated that the leap day is not expected to have a material impact on the business.

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CEO and Co-Founder Sanjit Biswas explained that it's early, but the primary pattern for Asset Tags is tracking historically untracked assets that lack a power source, covering a wide range of values. He noted the tags are part of a broader portfolio of equipment trackers. CFO Dominic Phillips stated that it's too early to discuss calendar '25 hiring plans, as the annual operating plan review is just beginning, but confirmed hiring has been robust and on track this year.

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CEO Tianyi Jiang stated it is a combination of both factors. While initial AI experiments often use separate funds, full-scale rollouts are integrated into primary IT budgets, elevating the importance of data management. CFO Jim Caci explained that the lower Q4 operating margin guidance is consistent with historical trends, as Q4 is typically a higher spending quarter for marketing and other initiatives. He also noted that approximately $1 million in expenses were shifted from Q3 into Q4.

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