Elastic NV Financial Analyst Day Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Ittai Kidron - Oppenheimer & Co Inc - Analyst : Thank you. Ittai Kidron from Oppenheimer and thanks for the presentation today, very helpful. A clarification for you, Navam and a question for you, Ash -- a clarification for you, Navam. When you talked about the GenAI contribution to your long-term model, 5 points, you said gradually growing into it. Does that mean that in the early years here, it will not be 5%, meaning your targeted growth is under 20%. And in time, will get to 20% just on that? And then Ash, you made a very compelling presentation to the -- you and your entire team around the technology, the differentiation, and I always come away very impressed with the technology. But when I look at the competitive space, whether it be a Datadog or a Dynatrace or the security companies like a CrowdStrike, they are all growing north of 20% for quite some time. So help me understand what is it in the model that is so difficult in translating the technology into reality of dollars. And I understand that there's a big GenAI opportunity ahead. So you can always say, well, talk to me two years from now. But a lot of the advantages have already existed for the last three, four years. What is it that's been missing in making that and how are you addressing that gap -- perceived gap between the capability and the reality of what the numbers are?