INFA - Earnings call 4 2023 | Informatica Inc.

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Operator

Good afternoon, ladies and gentlemen. Thank you for joining today's Informatica Fourth Quarter 2023 Earnings Conference Call. My name is Tia, and I will be your moderator for today's call. [Operator Instructions]

It is now my pleasure to introduce your host, Victoria Hyde-Dunn, Vice President of Investor Relations. proceed. Please

Victoria Hyde-Dunn

afternoon, Year for XXXX Good Quarter Informatica's thank Full and Earnings and you. joining you Fourth Thank Conference Call.

are Financial today Mike me Amit Executive Chief Joining Officer; McLaughlin, Chief Officer. Walia, and

a Before we of couple begin, reminders. have we

earnings on Investor available Relations presentation our investors.informatica.com. release slide at Our press are and website

on will after IR the conference prepared remarks the Our call be posted website concludes.

a risks from comments Actual results During uncertainties. nature. those or the forward-looking expressed call, various of we'll a result implied as be and differ materially of making may

For titled these company's XXXX. for more recent risks, please SEC filings, filings about some year information of included most review including Risk our XX-K full the the in and section XX-Q the Factors

publicly on as forward-looking we are our today, by statements statements, except based forward-looking as These information or update required revise obligation of to law. and assume no

to will financial non-GAAP of a performance Additionally, A with found measures. certain and to release in the Investor pleasure over measures for the turn GAAP. are discussing website. presentation slide It this prepared can measures we financial not on Relations available addition to be of measure on our items financial press is and to accordance substitute non-GAAP These be call afternoon's my in U.S. these Amit. in GAAP nearest reconciliation Informatica's

Amit Walia

everyone, you, points. key joining thank start thank us by you, Victoria, X summarizing today's for Well, and today. call I will

line our the testament mission-critical guidance relentless cloud-only, AI-powered was management the a our an modern results leadership as of fiscal stack. This focus of the for outstanding a and strong XXXX, IDMC metrics power closed data executing Informatica in consumption-driven bottom quarter customer all category on strategy, First, and These a the data are momentum. platform component and full and to outperforming fourth by driven year. the top

And Last hybrid data in our product AI-powered and are ongoing multi-vendor, strategy, cloud-only, the I Cloud that multi-cloud, we consumption-driven strategy value believe management Investor and innovation entering digital strongly very yet. the cloud multiple and platform data to migration gen engines: fuel most we has shared transformation, a Day, long-term executed industry's on-premise creation. drive year, to on Informatica's against exciting we Second, third, our approach. best era to journey AI growth management at December only Informatica's deliver growth

let's discuss Now in detail. these topics more

to metrics. to Turning fourth ARR guidance quarter, the $X.X total exceeded XX% of subscription increased to year-over-year year-over-year and to our In ARR ARR cloud results. billion. end $XXX million. all billion We $X.X high year-over-year Subscription grew XX% X% rose the

total operating year-over-year tax to grew year, the after year-over-year unlevered billion. free adjusted flow rose year-over-year full X% $X.X XX% cash Non-GAAP to $XXX to XX% revenue million, For income $XXX increased and million.

delivered have commitment of is one a year. to IPO pleased Xx, ratio full less our net of than ahead which debt are We leverage by

X new grew $X.X also to subscription we cloud We annual milestones: revenue to subscription billion. achieved revenues and $X billion

At shared thoughts our guidance. December XXXX Investor we early on Day,

full the We subscription for that are margin of all of expect operating expectations cloud including reaffirming non-GAAP remaining metrics, XXXX. growth [ year XX% income full we and ARR raising year should ]

of came level Our year, full partner In by XX% than is enterprise customer expansion cloud of ecosystem, approximately the supported cloud stronger of initiatives existing pipeline. the engagements. healthy with workloads customers new ever, engagement cloud new and our success bookings cloud and growing from

GXK within and opportunities our We existing sales, in enablement and through driving customers partners. new markets workloads are industry attracting new customers, expanding teams

delivery on and We had number more of on to We purchased co-selling the more than and accelerated ARR a through announced IDMC partnership XX% MongoDB. new pride which Customer point a Marketplace. service access Azure, Databricks launched with being customers. and have Snowflake Microsoft grew strategic of XX% increased ARR, enables which Switzerland Azure ecosystem Azure-native million AWS, GCP, spending We customers subscription XXX Azure, as a than spending $X data with of in record to in Microsoft million year-over-year. an $X ourselves Canada year-over-year subscription

provider the we for as Microsoft connectors partners well for announced health observability life support and AWS of re:Invent, as At At multiple accelerators Microsoft integrations, AWS for ISV one master native format first quality, certification seamlessly app data Fabric. Fabric, and integration we new data including and as Microsoft HealthLake sciences-specific as and of a our design connectivity Fabric management data deliver announced data new care well for Microsoft as Ignite, data payer. to

scalable management gen solutions for AI AI Bedrock, SX foundation both deliver and access for Microsoft how our data a Grants, Lakes Amazon capabilities, With our data Microsoft SX enables management marketplace We Access showcased customers cloud acquisition. data AWS, IDMC data leveraging permission demonstrating recent are partner Azure for launch Amazon to Privitar gen with delivering a conversational OpenAI at we and apps. enterprise-grade trusted and

availability general data enabling X.Xx complex product integrating ERP and to enterprise Snowflake first Superpipe and than integrator, approaches of data CRM With of previous public a to experience. seamlessly use preview Superpipe native the faster Snowflake, within announced the app, Snowflake, the users our we Snowflake from

we Unity Databricks' cloud verified data enhanced and Catalog Databricks, data integration services. support cloud free With our for integration

data-driven of with the services, partnership verticals. our This MDM deliver benefits with Lastly, SaaS Atlas financial to and MongoDB a MongoDB modern care across insurance trusted solution. we apps formed new health combines partnership strategic cloud-native,

continue with IDMC. taking practices expand GSIs strong their by in showed practitioners to interest data They market at on to also enabling AI solutions IDMC. scale their and

announced they IDMC, and combining Deloitte's experience. technology, have simplified and operational regulatory and cloud-based Lastly, a with offering offering reporting launch domain AI-powered by partnered Deloitte compliance Workiva's that Workiva Informatica to Informatica's ESG

Informatica on partners doubled business mind more new down and recommending opportunities XXXX into more build often. where and AI XX% bring in of increased as share partners data wins Informatica, new more to into Sourced their translating and Informatica partners practices

and including continues PowerCenter in our GSIs Cloud X partner partners, part program, now program to XX certified strong Our We our accelerate interest perform of over Edition. to Migration Factory as strategy. to strongly continue our of modernization have

Modernization an launched also treating the the We first and during began partners MDM quarter. Program

move customers, to In data, run by XXX innovations matching important SAP and new data a our very extraction. Master intelligent we a to for QX, SAP for framework, just migrate and otherwise of to and many out Apps, version enhanced and I'll for summarize In supplier few, try a deliver of reducing IDMC. trust connector accelerating customers new Management Data enterprise capabilities enables time. cloud reliable S/XHANA. extension outcomes released high-volume to better expanded data we we'll the risk the added to MDM creating product match to

optimize a engage Cloud and Lastly, supports now customization. and we that the data more with added customers. governance easy effectively workflows use chain location custom master supply UI helps and extension catalog of

and sharing for We also new web introduced extension providing called insights. intelligence data browser a Quicklook information

the connectivity workflows. understanding advanced scanning AI, Our In includes organization. gen enables Oracle, of preparing scanner Metadata increased of each collecting Qlik and Cloud and Spotfire, now from high-quality and data with Foundation Power BI Microsoft CLAIRE depth metadata

data the rich Let metadata CLAIRE business effectively. of remind, seamless users to We and data enterprises. making IDMC central with work me for auto very base help and cataloging, to in This it added system record copilot the a enabling for is teams cataloged be to inventory. auto metadata will prepared organization's management metadata, GPT of work data metadata from an more

help for the capabilities. auto-classified INFACore. clear-based Privitar's to just about using data auto-mapping AI, for we broad forward integrate high-quality updates no are data access excited recommendations track We're pipelines. capabilities And are code on to Privitar, to has consume these masking this here into columns month. Privitar's now and IDMC, copilot and availability complex including of to protecting lastly, and and users later about in hear you management These capabilities know sensitive recommendations sensitive metadata create process gather for CLAIRE streamline I data look IPUs

Caribbean Now that into Group, translates new a cruise innovation in customer An stories, world. throughout vacation me the is great line customer the a industry and cruises leader few. outstanding always offering let share Royal

support power As MDM reservation solution modern a support which modern ensure customer financial, part experiences requires data guest to system-wide the of MDM loyalty high-quality systems, SaaS to they're new selected master their investing of a They've and effort, data. strategy loyalty success. and with management our to modernization superior in

across a Microsoft, enterprise. and their regions cloud Pella the of manufacturing to quality chain data with In operations and SaaS MDM and across window supply to their the inventory quality of States our products, Corporation data partnership United selected and supplier and and Canada. door select Pella company ensure operations with is customer the manage optimize

better data, suite drive to and solutions health partner and across full Amgen to global provide with chain. customer They broader more health and and services health which and centralize MDM care. care chose us efficiencies the that tech of a administrative with master company a our products IDMC customer care will is outcomes value through offers their leading delivery entire

in students. The years have university Now Australia's both Informatica Australia, XX,XXX areas. the a over of university been successfully for a customer and is great projects longstanding and customer MDM cloud has X undergone Sydney, University expansion for and approximately migration home PowerCenter story to oldest

university and management, solutions to the purchases experience enable students expansion reflect the effectively their integration faculty quality data cloud across data a for foundation Their AI. for enhance data master recent data data prepare governance, data their sharing, and platform enterprise and further leverage to

Tools Informatica leader the product from and Integration innovation leaders the in report. completeness been and XXth a we furthest are positioned axis the recognition the axis. consecutive on continues XXXX formal core markets to Data This We our have and our differentiation to ability us Quadrant marks Magic highest commitment vision execute analysts. Gartner in to own industry for is time on of

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a a Management problems, published Forrester XXXX building Pipelines by that Leader creating report. report Wave real, solve business QX Product great value products rating in customers Informatica QX report XXXX help Data Leader inaugural Information In by a Cloud received happens and them. This the mission-critical Wave Forrester, in for Forrester rating the

during we data management are enterprises. reasons presented Day in Informatica at we choice X for Now Investor how illustrating their December,

best reminder, As data a we products. built firstly the management

we AI-powered is in Last believe entering very cloud-only multicloud have by platform. powered I IDMC, year, IDMC extremely hybrid we are our third, though Informatica's support and against management exciting executed workloads platform are multivendor, and that which data we most strategy, ahead. year we our Second, strongly the called difficult AI, market one And the CLAIRE. only mission-critical

strategy enhancing accelerated Our unwavering That cloud platform, year-over-year. transactions our a platform growing focus consumption-driven while XX mission-critical trillion IDMC processed executing capabilities. profitable, IDMC, a AI-powered deliver cloud-only, December, to XX% growth is whopping go-to-market and in

and use unique cases. platform, helping more drive and AI-powered data many, to differentiated and a workloads enterprises' efficiency have intelligence We increased many automation,

in will growth look ways. I fuel As X ahead XXXX, cloud to we

transformation. first ongoing through The is digital

deploying and have still be digital that We modern treats of strategically from companies databases yet a building consolidation. transformation. not some across AI, technology to success digital is in within and globe innovation, tremendous end-to-end enterprises. of data the drive customers management hyperautomation, move done become tools tactical fundamental era. innovative done are There this platform and work analytics the initiatives that apps, Generative driving cloud to efficiency democratization, Enterprises help amount data digital away an including need digital adapt to vendor data to and bespoke

to full In XXX maintenance year-over-year. billion bookings from modernization Migrating year cloud [ unique have priority. closed to we migrations. in Approximately and very self-managed are deals, ] customers cloud we Second, which a XX% full is ARR. came XX% grew over the on-prem of of year, important XXXX cloud the $X new

cloud the of Now time Edition as significantly PowerCenter from last we XX%-plus August edition our IDMC. PowerCenter introduced on-prem deals. to PowerCenter year to modernize Cloud was -- in QX, a to lower to modernization significant reminder, a In of

is web CLAIRE, as in cloud. clean And connections management data, needs to AI, leveraging stages There to ML and access Guess metadata management opening what? is our accessible All data, data, data without such and drive is lastly, the all data XX AI accessing metadata algorithms driven productivity, CLAIRE And for no early data have our gen very today. solutions core by copilot value, opportunities. and that IDMC. governed intelligence data. of is active data. new to XX,XXX-plus now engine, which of AI customer And live in gen petabytes on it leveraging our and leveraging NLP is is metadata in embedded holistic

CLAIRE and XXX-plus to review select signed by we partners CLAIRE private data already up, discovery, use month. finding with analytics right GPT preview, plan cases, exploration of GPT this Today, end preview the the the is AI. in to for expand customers data for sets private and customers metadata

quarter. We in towards making expected are progress significant launch the an second

category and demonstrate of in a leadership Informatica, results IDMC mission-critical AI-powered the strong our data In our summary, with that data platform modern management, component stack. is

by on products the delivering market billion-plus industry's the customers. all hybrid are a data in multi-vendor data multi-cloud, CLAIRE, significant management our powered value only firing management cloud solving cylinders best Informatica opportunity. AI-powered $XX that been workloads mission-critical and platform, AI are has We on IDMC, complex while to

special of for a company opportunities by we our about accomplishments excited consumption-driven the our XX cloud-only, also time very our incredibly proud I'm years of and the centricity. innovation ahead driven heritage, It's celebrate as customer journey. on and

Informatica is a years special XX myself. company. completed year very last I

across across We we look all and globe are May product innovators, to join globe, globe forward to more remarkable stay our the making and innovation a there. sharing our invite you our partners customer-centric, Informatica you Thank We at across employees our values our World it customers us year. and to true the the to data. for and in over

over me that, please take away. hand With Mike. let the it to Mike, call

Michael McLaughlin

and Amit, growth begin you, another reminding understand exceeding and expectations, afternoon, was how revenues. solid review across results of good delivering the QX to with financial everyone QX our profitability our close GAAP and best board, to ARR Thank Informatica's the metrics everyone. XXXX. I'll by a quarter strong key

ARR XX% is no licenses, we revenue and which into on maintenance fall therefore, cloud actively major which delivered perpetual decline. which longer are, and X and on-premise sell self-managed gradual growth in 'XX; categories: FY in Our declining; also subscriptions, gradually subscriptions, ARR

growth categories of in of at and same revenue, the of strategy, we cloud and 'XX Day, of As our are beyond. is our maintenance gradual strong the expect our of these Investor result decline cloud-only FY that business discussed the the I self-managed the and subscriptions and direct more ARR December X of trajectories and our

over With cloud $X.XX net let's prior renewal of total was new that with steady million an in This year. driven rates. ARR, existing added We by the billion which workloads, new the in X% in net prior mind, start QX, and expansion was with versus primarily increase $XXX customers strong ARR year. total

by on total negatively ARR a Exchange $X impacted basis. Foreign million year-over-year

Cloud end our the QX ARR a November Subscription from subscription guidance. at ARR, a represents $X of year ago. year-over-year up was XX% the million our of midpoint $XXX XX% ARR and increase of Cloud total above million, now XX%

year-over-year impacted Foreign ARR cloud exchange negatively million a subscription basis. by $X.X approximately on

of existing rates net subscription new Approximately existing steady cloud quarter-over-quarter. cloud customers and workloads cloud fiscal migrations. strong $XXX $XX cloud net on-premise engagements, XX% and workloads' coming year-over-year with with million New XX% customer expansion of million and ARR new renewal XXXX's the expansion cloud drove new remaining cloud ARR from of net came from

up net percentage Our fourth level and last rate user the subscription year-over-year up quarter. at XXX% X the was retention point percentage cloud quarter, X end in versus points

at the percentage beginning X global define the metric at sequentially. our for discussed period Investor year-over-year defines and was cohort ago up Day, customer we year cohort the measurement points this X% our QX we at XXX%, at As NRR NRR the December customer level, instead end the If the of level. user parent

$XX ARR subscription $X.XX million guidance. a ARR ARR, This quarter X% expected the as million. by which in Subscription to which our in slightly midpoint cloud we XX% forecast simply This decline X% sequentially down sum than Self-managed and was $XXX declined November. year-over-year year-over-year. slower down the was billion, grew ARR, self-managed of and November was is the of to above

$XXX,XXX impacted a reached a negatively XX% We in in good increase exchange which subscription $X.X average year-over-year. million per Foreign approximately customer, our subscription growth ARR QX, on basis. saw year-over-year by ARR over

sold ARR. total ARR which Maintenance in XX% with line million, perpetual of X% is was expectations. in approximately now $XXX past, the to year-over-year on-premise total about licenses The maintenance of down component represents third ARR for

also center us. are migration and migrating As our PowerCenter space. self-managed on-premise Amit QX MDM cloud discussed, seeing our beginning their maintenance and our year helped volume signed customer the migrations cloud, power solutions. introduction the We're from IDMC our migrate in the accelerate of to momentum to last is of on-premise on-prem of for of customers a our base to base of Cloud opportunity large Edition has The

So migration as are metric base, not include our to entire our updating we maintenance. a reporting on-prem result, just

migrated of up to have quarter. X.X% QX, end of we our the of base cloud, from self-managed maintenance ARR X.X% As last and

including average on last ARR life-to-date migrations, migration, from quarter. and MDM. a base maintenance have X.X%, We X:X was these historically PowerCenter up ratio QX reported, Including uplift X% only our we have migrated as in

growth declines year-over-year. Subscription subscription of and to by These X.X% ARR offset maintenance growth summed ARR total XX% X self-managed gradual this ARR. components drove in Cloud increase, ARR

intentional XXXX consumption-driven We cloud-only, as and in direct of a expect similar continue to our result strategy. trends

to revenues guidance XX% decline an revenue. increase due results acquisition material for range the were revenue I'd our $XX of primarily by November the This of $XXX Revenue year-over-year. to exceeded total our not Now GAAP midpoint review quarter. in fourth slower-than-expected self-managed like our million, from was quarter. the million, Privitar a in

impacted year-over-year $X.X Foreign a basis. revenues total on exchange approximately by million positively

As it shift we on-premises reported. this the were sales would have approximately total previously of a headwind our subscription been discussed, million and in bookings have to as higher mix self-managed mix our year, revenues self-managed versus was last creates QX new of from than we quarter cloud sales away cloud impact accounting same revenues. the GAAP $XX to If

the For higher. been revenue year, full have $XX would million

revenue $XXX Subscription revenue representing increased year compared million, XX% XX% to XX% ago. of a year-over-year total to

offset subscription lower XX%, points self-managed down to X.X Our renewal rates. subscription year-over-year subscription percentage quarterly rates, cloud by was renewal renewal rate due approximately higher

was year, renewal rate full subscription the our For XX%.

the represented XX% million, expectations. professional revenue total of and line XX% services total with were revenue revenues QX, in representing for revenue of quarter. Maintenance Maintenance $XXX in

with this comprised remainder and category, with quarter quarter. million year-over-year, in was periods. prior consistent education renewal down XX%, the Implementation, Our maintenance of consulting $X in line the rate last revenues

have to GAAP XX% additional QX, subscription I growing be call will cloud quarter, revenue And or revenues. subscription our in reports. quarterly one revenue Starting from this of year-over-year. out In XX% disclosing million subscriptions cloud $XXX we was revenues,

For million, cloud revenue full growing year-over-year. was subscription year, XX% $XXX the also

timing to differences the differ the due to of reminder, between a ARR X from As will these and revenue rates period period. metrics recognition, growth relative

last business. would million, revenue geographic international the revenue to XX% lower of grew XX% international $X of of total while quarter, revenue, million representing year, rates year-over-year. distribution from revenue exchange grew year-over-year our X% million. to the $XXX approximately in representing $XXX QX Using growth international to Turning revenue have XX% been U.S.

Turning Approximately IPU. to pricing points of cloud represent our for committed records products, multiyear or deals. were quarter also primarily is IPUs QX now consumption-based consumption-based customer of cloud fourth MDM XX% new sequentially. of The bookings XX% ARR, X IPU-based were our up cloud bookings a subscription remainder model. which supplier for percentage

unless Now our that I'd QX, to profitability I gross stated. otherwise like year-over-year, move expenses consistent expectations. on were Please metrics. discuss XX%, In will results up X percentage note operating our non-GAAP margin point was with to and

November restructuring XXXX. our quarter in nonrecurring plan, incurred of restructuring $XX XXXX of of charges we approximately part million fourth the As

to million we with expect of of $X expenses approximately quarter $X provided restructuring We November. the range million the incurred consistent to in first XXXX, be in

was million and basis was fourth percentage million XX.X%, did repurchase cost million. shares. count please our income free $XX quarter, approximately shares. common we unlevered was point in the any improvement year-over-year diluted year-over-year. part and approximately exceeding free the to share line a year was approximately paid repurchase million not $X.XX XXXX non-GAAP authorization Basic on these Cash approximately continue Net based income X Adjusted about $XX we $XXX quarter from net than November. Fourth million cash percentage savings Adjusted XXX due unlevered $XXX million an with estimate million. and note for will operating And per Class $XXX A million midpoint to in million, the EBITDA GAAP flow share November $XXX $XX margin restructuring growing in adjusted outstanding and after stock actions announced XX% million, after ago. $XX points a as cash was on of guidance flow was tax was expectations. that expectations share Operating cash and was XX XX% $XXX higher $XX diluted basis. Operating margin range We in income in quarter better million the benefited $XX interest on million was the performance income a be by tax collections. grew of

ratio $XXX million, a ended $XXX strong debt X.Xx at million, the position short-term This year $XXX of a the net our commitment million than Net of we of one We of quarter trailing IPO with was with plus investments cash fourth XX on deleveraging to December. I'm $XXX adjusted resulted the Xx leverage pleased cash an EBITDA less of months in of share million. that and end year-over-year. delivered early. increase was

now to guidance. Turning XXXX

the reaffirming we our are We pre-guidance Investor at shared December XXXX Day.

year-over-year off our a of cloud we XXXX, expect grow in December. to subscription expected We XX% ARR by base early in than higher

operating increase non-GAAP full of XXX a XX%. points our of margin total to FY GAAP XXXX, a forecast. year expect margin originally basis from than 'XX margin to actual income off grow And our total ARR revenue than and base we XX.X%, expect XXXX growth faster which grow guidance basis inflect higher our XXXX We also of from in in and point is XXX by

into this that XXXX. all growth all December of year for rates to guidance account, range. we the the Taking the full ending XX, are refer guidance the establishing midpoint Note following

to $X.XXX billion, representing approximately in We range expect growth. year-over-year of GAAP the revenues billion $X.XXX X.X% total be to

We approximately expect billion be to growth. X.X% range $X.XXX to ARR representing year-over-year total of the $X.XXX in billion,

We representing be billion of $X.XXX expect to to the $X.XXX approximately subscription range growth. billion, ARR XX.X% year-over-year in

representing million, growth. XX.X% to We $XXX to cloud expect year-over-year range ARR the in million of approximately $XXX subscription be

million, operating tax cash year-over-year growth, expect and of approximately range to the unadjusted in after representing expect to to flow non-GAAP $XXX representing million, approximately in $XXX year-over-year growth. be the range $XXX of free unlevered million we $XXX be to income million XX.X% We XX.X%

as follows. XXXX, first quarter the guidance Our March is ending XX, for

million million, GAAP approximately the representing revenues $XXX in be $XXX range total growth. X.X% year-over-year expect of We to to

the representing year-over-year of in subscription be expect XX.X% ARR We to to $X.XXX billion $X.XXX approximately growth. range billion,

cloud million, in be We to approximately year-over-year ARR representing of subscription million to $XXX expect $XXX the growth. XX.X% range

expect We year-over-year million approximately XX.X% representing be the income $XXX of operating to growth. in range non-GAAP to $XX million,

modeling provide to for Now more of like a pieces purposes, information. few I'd additional

adjusted after cash the to flow be first the million. of quarter to free tax unlevered expect for in $XXX range million we First, $XXX

expect We FY in be 'XX. flow to cash free quarterly 'XX linearity similar to FY

estimate Second, forward month based $XXX million interest for quarter we SOFR. cash approximately for approximately rates first million paid in and the be $XX X will using the full interest year, on

we tax For a reported rate non-GAAP and expect continue XX%, tax that of fiscal rates, to we XXXX for rate XXXX.

rate fiscal at steady-state we non-GAAP where long-term, to based XXXX eventually XX%, operational reflects expected beyond, which activity. Looking taxes we with distribution geographic expect Cash are to in be consistent XXXX expect of our settle of on and and a taxes structure cash tax XXXX.

count share our assumptions. Lastly,

outstanding and be shares For the approximately be million XXX weighted shares shares average million first to basic shares. weighted expect quarter outstanding average of approximately diluted XXXX, to XXX we

expect XXXX, the very solidified can approximately Operator, approximately XXXX. XXXX XXX total Thank of year cloud-only, average summary, shares and shares growth consumption-driven weighted XXX diluted will we performance are we be our basic you to for you. full which with our accelerating and open now strategy to upon the foundation questions. beyond. successfully in deliver transitioned outstanding and line weighted We the in million. In For average pleased strong be we million to outstanding

Operator

from Capital The RBC comes with question [Operator Markets. Matt Hedberg the of Instructions] line first

Matthew Hedberg

there's of year lot exciting strong on you maybe and made know in of there Is don't a more I feel a some is workload guess bit like of sort native I great but additional customers? the really -- outlook of be growth that Congrats that Any hear, growth seeing any guys people it digitally helpful. [Technical little end new Is focus sort it with, here. in double could Where it on Difficulty] and A included. guess Is a any really to it's of particular customer cloud digest on powering mainstream? AI to click comments are color workload? of more? on like I I new start color if you wondering, more you a to the for things a on you workloads, gen I'm that would segment? lot 'XX.

Amit Walia

everybody. Hi,

you I you. can ahead think calls -- the we're back line Operator, questions. to open with to go and the the

Operator

RBC question Capital first comes Markets. The line of with Instructions] the from Hedberg [Operator Matt

Matthew Hedberg

we think on opportunities the the the done but a to lot I guys maybe already exit that. you quarter I 'XX. of on the rate in and to about really things strong lost think question, of asked see lot A and guide, in Well such a good call.

in positioned that to from? that. -- growth certainly that it guys workload, anything that. hear. well verticals? about on talked cloud Is monetize you and really perspective click guys really industry feels like Because You you just comment. new is double driving particular that's are which exciting to see Is Like from an overall could is wondering good if to I'm it where coming

Amit Walia

the Matt, thanks for question.

our And But all markets, lost transformation is initiatives. they automation, funding think they over. efficiency, not to cut are into customers, I look, top mode, those lot is AI transformation data as is beauty where we away. gone are But year. are in we the I what digital we saw while going become of exited come bleeding done. I Sorry, I second and that transitioning all digital half the the And back. think mean, here look, We're is call. transformation year more what the gen And seeing into is they back -- initiatives. were have things into back transformational enterprise basically have not defense a back the

year, back the those. ended when where burner seeing in in sure I the we loyalty a more are offense, supply and you -- you that you do create think of some and out this talked making So better taking customer how call. can lot would the were I create They've people somewhat defense. on last So I that chain? for those How on argue example, XXXX, say transformation initiatives customers If I growth, investment would with do back about programs? about we argue come on

Matthew Hedberg

base. it. PowerCenter I'd I I the a And know I think PowerCenter modernization launch given to to that company XX% then they say, like think Mike, felt the customer real another of it helpful. in and because of that sort an August uplift economics Got your That's of like you maybe, base, when driven said guess, in inflection were for point, really opportunity on modernizing feels out the of pointed I Just that that? by don't Cloud I'm of that's the large the deals migrate is big kind terms Cloud. wondering, spend of curious you Cloud

Amit Walia

Yes.

of don't an uplift Matt, it just as uplift. So stayed Think The velocity. by increasing the it consistent. has think of

Cloud And can So allows do their pace, at with lot migrate their workloads that a PowerCenter to a higher the lot a customers with actually velocity. more more so journeys migration which that, it the own with dramatically. migration, also their derisks enter the risk less and time Edition, lot customers accelerates to

So and consistent that velocity us. increases pretty have the conversions. for Uplifts stayed

derisking not the velocity as more So program. and increasing look I as that it at would uplift,

Michael McLaughlin

PowerCenter there's regardless X shortens Cloud it's migrations to migration an to in or X years for super size. And prior which of dramatically style the every less, every that to up Edition, the those whether one months just or clear, uplift be some migration, cases that of took

with ARR So so migration, between we've historically consistent and had Cloud we X:X uplift about after been PowerCenter earned earning and migration the we that far Edition. that's ARR the seen cloud the

Operator

The from the Deutsche of next Brad with Bank. line Zelnick question comes

Brad Zelnick

specifically the about finish go-to-market. this my of following to echo specific XXXX year? Amit, it going to what the maybe playbook such like what the opportunity I for existing themes out Because just around sales to ask Edition, incentivize PowerCenter strong sales and key a year. base? Coming kickoff, modernize were the both and you partners a sell just question congrats unlock product? And that to seems Cloud I'll are in for tremendous direct on-prem wouldn't Matt's

Amit Walia

very agree year, the was cloud-only, strategy. that well. words for the mean you, is driven to opportunity. pivot X a I ways, thanks used consumption I you I'll It's the change in this question. we started couldn't And tell Brad, as focus no went some and pickup more. last there year, in I that great see, execution.

to is just execution. continue scale, of which kind focus and We have to

think that X And the are so words. I those

are excited. about that Cloud all, is a first super Everybody is, tremendous PowerCenter migration, think done we've people one. pretty is of I what Edition And excited on accelerant.

talked course, that's you but as imagine -- you all the that build the momentum can we about numbers QX, one. pipeline of know, in the Of is happening is

incent than work. a more reps extra a for of our We migrations because little takes to normal deal bit it continue

off now. much incentive work partners every thirdly, migration goes you've for always that's started the hard extra So reps. our partners. done Pretty paying all an to deal with has And

talked our factory migration We about program.

their project. partners larger large migrations through step And factories All of it by them one practices to a multiple their have than built, that have higher remember, practice the journey basically a and end-to-end can run to the factories. give classic modernization these take on them, migration in to is that within way, Informatica software a migration they for migration the

right fruit bearing things those now. are basically of all So

Brad Zelnick

largest the lot on just Maybe XX% SIs, A to Is that think from investing was new and booking certifications around to I a about. I I -- sourced it new specific to you this as pull talked from the it follow-up, in And commitments of to SIs, partnerships partner could that expanded exciting said get and capacity what thread. I you unreasonable that and But kind think of in terms XX& want we of do SIs even could Informatica? wrong. you even maybe building year? of more think have have

Amit Walia

all, of of XX% think It law Think good it is numbers. I as a number. very a in XX%. ZIP code. of larger first think, good was we're I a And

that. all think look them is guide point AI like driving at pretty all for they much think I'll that largely growth me -- have warehouse where them makes with up X X, but And we and X the from in if works you or in or that all using coming with companies end data one and they using X that the and data of is it place very they when up AI those data excited I'll lake the because us. you to I The of what X Pretty at they of look would X are, being X be So SIs. I where partners, large growth. data of much we and data are anybody's customers work the end management, them, the for hyperscalers, uniquely, and is practices much only us pretty world the are them. practice, And

a the So lot go have to best being not platform makes of hard products easy the work. GSIs that to products, our unique. And makes do it very it for all very

transformation part we That scale And is fruit. value want us, bearing reference architecture. best like of customers. customer platform drive and ability success somebody So are momentum creation projects, or to customers large at products the and for their

Michael McLaughlin

to that clarify by the that little XX% partners. deals bit, me let brought data just us And were a the is

So sourced. were they

If we sourced look XX% Investor deal our partner bookings it, that's at Day disclosed are of where with we're selling little more with or the a amount than in in that roughly you the a XX%, regardless co-sold our who as side-by-side of December. at

for source and business partners the us. to And in shoulder than them the a lot shoulder more delivering it we're a with selling of So field. majority,

Operator

question next the comes Wolfe Zukin Research. Alex from of with The line

Aleksandr Zukin

competitive follow-up. deal X of got more see quarter. over quick did large you talk about, budget really evidence maybe a of you then I've a to sort a you And a seeing Can now million, buying Or customers of this activity, some flush, normalized out kind displacements? are stood The environment? return

Amit Walia

Sure, Alex. Thanks.

I I way, I'll probably a would for is buying would put dramatically in changed way that say the think buying say environment the would early couple same say that would last of the not we've the months. has meaningful them that a environment, days. happening what's the say that into I for of actually management I creates is I best they because to couple tool the more pricing very data a that simple doing were of all categories, very Alex CoCd consolidating the one consumption-based bespoke for having one a make decision easy the of strategy you. Number with spend platform of lot customers makes it on products seen risk.

it for fact, more them. In spend creates

So favor. that our to is playing definitely

in those we talked are still towards said, to like deals about about, But pivoting talking conserve defense to automating Second by and definitely with the you're are costs going customers the transformation way. transformation efficiencies, of the funding hyperscaler called GSI in they a big are but what more the initiatives. and scale the that us. the can offense and project; uniqueness benefit. And is that project, AI same Most initiatives, partnerships. a product GSI one trying or the I them allows coming coming product deals they needed platform company hyperscaler, which is are they hand-to-hand U.K., And This we our in give partnerships project. traditional growth large That just auto literally a player, confidence. and us, very gen platform to do ecosystem our one to is them transformation us massive of to one or do our it thirdly, EV because was digital to same

things. fund can gen they having the initiatives and IPUs and on that they X get using on So different same their going not to and experimenting AI platform starting can and do

advantage. playing So our to all those are

Aleksandr Zukin

kind or the the Matt's customers lot credits a their the able getting of trend with that, how are do initiative phase I tying multiple you do takes well? to when ready guess, from to of And you phase retire customers those on services. then when production If durable partnering plethora core ways companies bit this, is, to into sustainable consumption Perfect. I yet? think how migrate would How AI question hyperscalers little quarters seeing experimentation hyperscalers not, with say, And many gen is kind are are durable funding of of the that? a as to of maybe on a maybe is that and offer that bump being that one

Amit Walia

second to first. go I'll Alex. questions, different the one X So

look a the had excess capacity that, is are point thing them hyperscalers bring that they The down. view. to workloads. that of because case, from don't to we mission-critical I need at was draw the think it durability customers these our In by sold I stuff

able always being in dollars We were those must-have mission-critical to workloads. here. they over So allocate up end

we've want So look, a you've that never seen time, belly the do up and with have us and end down. doing very do period steady. why, always over do, or customers up to been of they They've must belly gone is things which to

I at look it's something time. anything see don't So over that go that. that. would like like at period I a it don't We it will away of look as

Michael McLaughlin

Yes.

not have they any even Informatica it on hyperscalers material and Yes, of spend therefore driving we our or to it. think excess driven to let's what's growth not should at degree our spend just by need You being sales customers don't that's commits the figure, as the though it. that

Amit Walia

do data production experiment not, GXK it go-live. gen expect And is very you like can the first say in production nonmaterial, would goes when That's AI. Look, a can this for will then it second into these on think a these of define the And kind question first to some if your customers, I goes not remember, how workloads I more half, production see I where year wrong. go-lives I turning say our and extent. I go-live to just It's run are I are science wrong, critical those go-lives. you happen. to

work happening a lot of is right I now. think

experimenting sure on to it make without it small run a a then you bigger trying scale First can take to truly destination, trying inferences. to wrong is scale a and

can't if You you're it you're running owning wrong. can't it, customer set -- if and that get you in environment,

So of into I become if of industries. of start as going in this and customers it very things important, regulated especially thinking over see some about And the year. second production there, half goes other do course, them governance the that they're

stuff I Private A customers. about I the kind are with Preview, going CLAIRE doing. that. lot good see we area our see it. of feel of in pretty on work that we that GPT in So

Operator

line question comes next Rangan Goldman with of The Kash the from Sachs.

Kasthuri Rangan

I'm such after they questions, to but going So so and tailor-made. try. It's good because ask try. to Zelnick Zukin difficult going to I'm go

of and the the tough to But to So is I'm quarter all, of year. Yes, first go after it on try. Zukin. congrats Zelnick Yes. going finish the and

of was calendar time. early the period at [ remember mean in there the finishing XXXX, So when up run as on Informatica you fondly Or got rate cloud on-prem I business, sitting guys short to a in relatively or billion close look founding -- 'XX 'XX. I ]. track you I And the to somewhere of the $X with you're in

points, to are certain right? When to So at the greater does durability path of the the a to years congratulations and XX you wallet the some enable journey then. you if if here, journey? cloud this scale, proof why growth anniversary. the the extend finally, growth which will be business longer to on-prem level would that years then took XX underrepresented what journey, not It that on be great. And your could a offer and you to you a your things you took respect to as out begin of XXth on-premise, And get be with level look get cloud, share the are, on if Amit to are, cloud cloud longer Mike, versus

have in their this look ETL at own think the tools category, be data on the Informatica work? How do how cloud at thrive that maybe framing companies ETL-like. about no are -- that company, world you native by risks of you existential posed or not does the the that As to promises warehousing risk ETL a ETL

Amit Walia

Thanks, Kash.

the took billion firing I and your company the working. To of first of more. the to billion now agree cloud, in I at definitely X/X innovation said question, agree Day that is I of of than second happened more license the revenues. that strategy it couldn't parts. us to less one into couldn't I the first. on that to $X that subscription Investor we $X time pace cylinders of the of getting I the break think billion couple I'll $X are it get a I'll frame comment platform reach mean, all towards on has and

will an of I that Informatica ETL-only company. First is not remind respectfully everybody Kash, all,

we maybe question small do. to that a the I think remind have goes is what continue back think to we'll to I again this component very of ETL

product will services, actually small governance, very, on. and on app component of when and quality, data basically MDM And Actually, management, run free ELT, engineering, the I marketplace. In data who X companies sits a world. we ingestion, integration came data business. and ETL capabilities have fact, data can is of out mass apps, very ingestion-only and genuinely go with the on gave API a categories, we integration in data ETL, data catalog, integration out We small out that just believe data

about when data and larger whole ELT performance, data We talk where bearing data of do will ETL. SAP, you ] world. We you scale of on a to in growth think it's you when management, you anymore. when talk -- elastic, don't ETL we way, when Informatica the grow different We simple you it's connectors, which has immaterial think pushed ETL, But when no tomorrow. by not can the think I down governance, complex of a how -- when these Informatica's and XX at have is X think about that -- part of warehouses, think you see just company -- that which quality, those warehouse [ today would of you all when are creates an sizes metadata, the you broader grows.

moved that a beyond way. significant have We in

Informatica larger going. for I think about, I I'll where So group you, the and that's is echo worry where almost and Informatica is just what that not of kind

Michael McLaughlin

today. And getting basis first release a at XX% now fragmented. and growing the to is million to Day, very time our our you part talking Investor data as $XXX little TAM for billion where right so a only about you're north still of And IDC cloud to we I'll your revenue circle back first the And in The if back of management forth. disclosed bit is and $XX market question showed on share we through XXXX. wallet remember the

is that multivendor, our have we're 'XX XX% big and the multicloud not that share, platform maintain that expansion of we is and share TAM provider. But delivered think on new we growing workloads existing new think based that we the the going industry's share because it. customers grow leading heroic we're think So our management data -- have products TAM, of we And just in between the net that we don't buildup net we what that workloads, least we only best on deliver market at to TAM. a hybrid although the and are serves and of expansion to the to migrations going growth by and will

Operator

of Scotiabank. with question the comes next The line Colville Patrick from

Patrick Edwin Colville

AI? I Informatica just prepared can XXX, I generative it does financial want benefit touched the to gen to mean you it this the hitting like on the back benefit see I generative on model? you you touched guess, give and how But from AI AI. when do us, the And in remarks go in Q&A. you

Amit Walia

Yes.

So think X-part I question.

of that business that a -- a they which that realized in that inference. The that, this governed. democratization models context, like world, that model we right in by live it I value, good wants there simplistically in more that being lineage. data big in train that to biggest gen data. put. world, of or So all They the of puts the put think no holistic think very in everyone doesn't and first from in process in is When good and data, They is inference put out governance is coming good value something make gen do good data in front way, have being to that it of get sure fact, happens So in and this understand know, think, bit data, itself. And data, the I going conversation, and AI seeing we out. models in out basically much itself us, in little now, data They and what all, data. opportunity all the deliver Excel data value. becoming any model of is you is context us, without the model as sure there to a customers good all need you about can make AI? Excel, Excel have are in world A understand create the the clean management you data of They are

order a more are more company of There's more the and everybody that's we your do you happening have as that the what use become data experiments as to we things those basically the where wants happening is to see that's of speak. side do. that other new you get that different. When All lot all on stuff about, using are. operational. data Internet The And stuff in talked and that's to we we stack,

of GPT great and -- that discovery, we what automation improved being is of things, as data, is the on, growing is In complex these data into That's of with by what fact, quality is see do customers the the classifying to classifications play. that We XX%. CLAIRE data where able quality. Think going the preview XXXx. data come see to it's do. CLAIRE some is a data And by that's other part of things. stack Data one we automating

early And Customers price what's on then you to that. to seeing are next digital because going we become year, in easier. a bespoke figure have basically kind of but do platform, again, don't the that years, the transformation basically consumption-based I a of transformation. else think where, That's and makes nothing which are we can't consolidating out see It's model. them digital lot of into value. a AI-driven this tools I see ton it want doing happening our think And gen gives will tailwinds baked it I where few it

Patrick Edwin Colville

that Yes, Informatica of exciting -- the be CLAIRE kind Or the charges that for? offering? AI of of copilot. kind guess a the times. will GPT, core Is Informatica's that charge product your I part And

Amit Walia

it's product consumption. Part of IPO the offering; core

the down basically going consumption, of be are what consumption. separate are part do products IPU going they are customers IPO to and will more to individual there. is and SKUs it -- increase want them, we they basically So draw and out no Basically, driving usage with IPU and what parcel

Operator

Ikeda next of Koji line of Instructions] comes [Operator the with Our question America. Bank from

Koji Ikeda

seems A and bigger over Informatica I platform When announced. by the And IDMC, really year, the IPO. gotten is and execution it IPU has better but the and not model, usual, been since past I since platform, about that usual, execution the back offering, think business IPO it CLAIRE the as as mean been a GPT, and what taking usual. like announcements then, definitely new to just pricing of the as it's lot good results the IPO, mean, lot the has maybe I

over growth the the guess over within excited you is announcements here for question are the term? I So all drivers medium past what as most the years

Amit Walia

a tough question. Exactly. What

on we knew power very of all that, the asked products my X me But fragmented on We always bet I'll -- together. in best-of-breed me them It's is You And of innovation We it hundreds Mike best-of-breed as One of stuff. way, said the it's by not -- strategy. knew are pick that a only things said, put running to one in I'd platform are they favorite back, not around. go it's market. this most that. we also, platform. come attempt. that I'll because you all bespoke a as as one because There want kid much not tools look, things. had the

So hybrid platform their the customers only enterprise. with is and the consolidation, and worked, one manage go the has for to that's derisking vendor of multivendor with allowing basically to true which every landscape, products customer best strategy

and about is selling conversation different Second many is so models value and talking It reduces whole pricing of pricing driven. strategic exist cycle that IPU killer. the makes the

with the go go what? customers. low, can you value high. You Guess go You drive can

than with I to mission-critical do to this this then going Beautiful". wants I customer know more do workload. In fact, say, more you. geez, often want to "Oh, not, I'm

So we strategic outlook. have a very

one going The scale hyperscalers, trifecta vendors and very doing transformation by large ecosystem the tool important. is with the projects the whole basically Snowflakes and one do we in a is the built that not this the what drive strategic Third have fruit. and corner Databricks of customers helping happens GSIs, Because is GXK small bearing happen partner That value. with it's project.

Operator

comes Our Guggenheim. with the from next Howard question of line Ma

Howard Ma

congratulations to that Amit, the a I add that ask I out. had partnerships the technology expanded about lack of year challenges. called had wanted to Great. also strong my to finish you cloud no on want you

XXX% that's of Snowflake, to the Catalog, MDM to Databricks' Superpipe partnerships? how So much it think and the specifically And give these So going the part. do Snowflake, from sense MongoDB. you to near Microsoft I'm approach is these that and that us amount if second talking one about And of were across revenue Informatica at establish group, sources the data partnerships the with is to it in competitors? part is that a some of we and then the MongoDB entry organizational with Unity you of takes think point destinations, the to term? generates barrier alignment versus that is former other fabric data hyperscalers, Can integration a Databricks,

Amit Walia

Howard. Sure,

day. Rome they have I look, first didn't built partnerships start us a So yesterday. not wasn't question, think -- These for in

with out In Azure. the ago, Snowflake, partners with the partner fact, we started AWS with days Redshift. we -- Snowflake We And years we -- we were GCP. many, with and many and When came with out launched by way, and Databricks. Redshift started BigQuery -- working came with working very very, early

now, new think comes design every lot mean early I I year partners. more a we So with it so while them with we've for visible won with been years. design them days. working the working something And AWS. of becoming time from we've are is partner many very been the We out,

the for Fabric. partner are design We Microsoft

you customers see joint that. can table the they're want new at and because So we there are the with them our conceiving technologies

partnerships trust. and a trust, go-to-market these trust, has it from So have technology customer come built long time

hence, multiply. seeing of from snowball they we that comes are place. the it one. today, And effect that So And

about And so to think way the that's it.

sources coming database Microsoft old forth. in an pulling new IDMC on but why growing. of data a shared think still when the or data And MongoDB is in to an reason it warehousing workloads the and new that from look enterprise, enterprise, the so Second think, are look, you the also Snowflake, about data at or our so context, at and the think But we way mainstream, project new you right? So sources, new XXX% right, is, the from hesitate I new is, XXX% clearly, the comment, is Day. if old from I thing, on the Investor the

be So going both. to it's

grow the sitting data and as as But become more there. data size not course, housed continue in will bigger gets because ones is more latter over the there Of example. will an to still old X

to naturally, retired, gets won't stuff matter that it us. As

job what is can I Hence, of Our talk all our landscape enterprise. and see, the all investments, towards to and we the as that connect hesitate invest bring the But -- our we make the pivoted zero-sum course, to that's is game. data future, manage about can sure entire of and growth you in.

Operator

question next Havemeyer of comes Macquarie. with Our the from Fred line

Frederick Havemeyer

general, growth ask in here, this increase to we that impressive. should tremendous grow illustrative really how should metric? in really transactions in usage? cloud. course just quarter is perhaps mean this continuing Is overall Congratulations something that a to you're be seeing think we team something have of proxy related year-over-year cloud cloud, you're you considering IPUs? about Wanted Or it showing as is about for as like the -- And a I to to the through strong transactions XX% here. ramping, rather, flowing that

Amit Walia

So think as it usage. about

IPU IPUs it would indicator our activity, it cloud it best that The products usage is on not and through to our more correlate more means ARR -- all. on -- that that I it's platform. of our is So of

We that action obviously, look doing what it are why exactly that's and closely. see it, track very more and And at work. we is. I customers is more very, So happening. more what That's

don't activity, products of It it's master sense People a usage. it. -- quality usage. we go, sitting which it swath governance usage. on be It ELT shelf. a that's could to could could And say, usage. data heavy a have be management broad usage, be So use be pure that covers directional could means It that data

we transaction this those baked are All things of kind that metric into share. of

Operator

line the comes Citi. Tyler of question next Our with Radke from

Tyler Radke

those guess, bit to subscription first, expected. move are wondering, the budgets on transformations, seem You than we is how it and appetite large customer accelerating. at earlier up, from talked customers as does the And I your picking I pressure and a to some some cloud about seeing business, IT greater look you're maintenance, kind on-prem a the stronger of heard do Teradata like were week, I'm non-cloud from if this losses. ARR

was to if then migrations? is these that? So the Cloud, do could you the independent think Is And unpack shift of tied timing seeing again how that it of are to you kind Or happens driving it this just core event? we system your to on-prem base? what large secondly, completely broader when about

Amit Walia

are in and Tyler, Maintenance of subscription the of so close higher we revenue as have on The buckets term. right. results for it was moving you cloud a there versus are can there of But portion the number to XXXX. And did meaningful the that out our turns that difficulty based than did federal see, up line the cloud X outperformed you're are the expectations also, guide. in our pretty end customers that thought. agencies self-managed government ARR out that outperform self-managed and short

value tremendous of product We have tertiary cloud geographies customers a ready. that out amount need still still product. are our our not And of and those get

being it a still end want we and have a as with as emphasize not for as will do standard they thought. to future. than up those So high landed stay actively it pretty customers customers deviation a go brand. And we We has of frankly, a it want those they sale. happy to around don't much it it just forecasting sell cloud become on of implementation of adding the means of us it's us happy it eventually some higher And ended not existing that the is just customers the in that they we're because -- need we more, outperformance because and number, -- was because cloud don't so to it lot their because company small that now a with to eventually, but

in it pace respect introduced with of we of and after to of is your the can the see the Edition. And to second Now see part that quarterly accelerating. can in And compare year-over-year you you it think migration, it QX, that 'XX. question, 'XX QX the I Cloud PowerCenter progression, was

the growth have do workloads, existing are of new a expansions accelerating, strong contribution in to we to cloud XXXX. to and pace accelerated of too, But migrations greater majority XXXX. will growth migration. growth and our an So cloud majority total of cloud expect somewhat in continue our be will be we'll our not -- customers continue The

Operator

last Stefan Our of line question comes Fargo. from the Schwarz with Wells

Stefan Schwarz

on ask year, to pipeline Nowinski. you trends ARR coming for of optimization workloads. Past cloud hyperscalers a on quarter, relative kind in commentary Are cost maybe upcoming cloud inflection? I'm end. about for similar to to an the your talked seeing this similar Andy your Wanted

Amit Walia

in had business. optimization our we wish I

belly No, went up, so belly down. be have to we worried So we ]. about look, it's [ going strategic

Sorry.

selling as see see I customers we of has terms didn't very are significant steady, those selling against customer focused And -- see on very to excess our workloads. honest. think, We value you success times ASAP. workloads. creation get didn't team where during we business in we've mission-critical capacity, performance When that our always IPUs, maniacal we look, getting been sure ahead be mission-critical about it into been the sell makes

mission-critical in platform, don't steady we've been towards -- could -- use that think the if see. we We've I more terms we hence we those, on optimizations is I honest, see, into steady that and haven't hand, selling didn't do I cost across seen very solid to other some been workloads So growth what we to us. word in our Yes, for be growth. and but very happening of of run there, that

Michael McLaughlin

part that multiyear is have and contracts committed the in unlike that with those we And our some that customers. companies XXXX, suffered XXXX of optimization fact from of

use. in pay upon they're they're based year not So how they month-to-month, advance; a us much your commitments; multiyear changes bill you

subject not simply versus to we're the of expansion. So swings extent, optimization as to that structurally,

Operator

additional management any back would time. at the no the remarks. for closing conference pass I waiting are like team questions this There to to

Amit Walia

excited for we operator. I think are with you we're bit are Thanks, our that with We're executed was overtime. all said, cloud-only, you Well, focus this well. stage basically, consumption-driven Thank execution. little like where know obviously look, Year very of I continuing staying about X. back. can a look, to maintain we pretty and about our Well, year X strategy. see, And I as into it's

be execution May continuing We migration; year. transformation hopefully, in course, have X gen to a our great lot year. for And you, this of digital driving vectors market; our the We now to World of at and see this AI, you continue growth. place the forward ongoing we'll in a look Informatica

Operator

of hope enjoy the today's That all I concludes rest day. your call. conference you

now disconnect your may You lines.

Informatica (INFA) 14 Feb 242023 Q4 Earnings call transcript