82 annotations
part of it is we just expect there to be more deferred payments like annual billings, things like that as we roll out these programs
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2024 Q2
25 Feb 24
part of it is also because of the platform initiatives -- platformization initiatives
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2024 Q2
25 Feb 24
part of the billings guidance is related to the Fed
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2024 Q2
25 Feb 24
At the same time, we saw a decrease in our nonproduct backlog, which offset the Fed weakness in our billings.
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2024 Q2
25 Feb 24
The impact of the federal deals and our revenue is significant as they are relatively shorter than our average contract term.
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2024 Q2
25 Feb 24
This U.S. federal weakness was a meaningful headwind to our billings in Q2 after we saw a slow start in the year to Fed.
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2024 Q2
25 Feb 24
we saw weakness in the U.S. federal vertical related to some specific programs
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2024 Q2
25 Feb 24
they are many times resorting to uneconomic pricing and putting pressure on transactions in this manner
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2024 Q2
25 Feb 24
the single product vendor is having challenges in articulating compelling value
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2024 Q2
25 Feb 24
We intend to combat that with investing in this space and trying to accelerate platformization and consolidation for our customers.
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2024 Q2
25 Feb 24
From a revenue perspective, we expect to see less pressure on revenue as compared to billings. Generally, we see a lag in changes in our revenue growth versus our billings growth, and we expect that this will happen here as well.
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2024 Q2
24 Feb 24
Our average duration on new contracts was relatively flat year-over-year with average duration for new contracts remaining at approximately 3 years, while total contract duration was down slightly year-over-year.
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2024 Q2
24 Feb 24
Over the last 6 months, we have been quietly working to develop programs that enable us to help minimize and even share in the risk of our customer base.
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2024 Q2
24 Feb 24
these deals did not close
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2024 Q2
24 Feb 24
From a regional perspective, demand overall is healthy.
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2024 Q2
24 Feb 24
If I step back and look at what we've done over the last 5 years, we established the notion of the platform in cybersecurity. It wasn't a notion that existed.
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2024 Q2
24 Feb 24
you will see contract durations go up because we're not going to do this if you're not going to get a commitment for a 3- to 5-year deal because it does not behoove us to do those deals if you don't see a long-term commitment to the customer
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2024 Q2
24 Feb 24
But as you get more accommodative on some of these offerings, more aggressive on discounting. What are you expecting to see from a contract duration perspective?
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2024 Q2
24 Feb 24
what the catalyst was for this to be a midyear change
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2024 Q2
24 Feb 24
Otherwise, we get whittled down on price
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2024 Q2
24 Feb 24