Informatica Inc at Bank of America Global Technology Conference Transcript

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

Question: Koji Ikeda - BofA Global Research - Analyst : And so just to kick it off, a very standard question, Amit, for those in the room and those on the webcast that maybe are unfamiliar with Informatica about a brief overview, what do you guys do? What's the opportunity you address and what's your story and what is your story like?

Question: Koji Ikeda - BofA Global Research - Analyst : Thanks, Mike. I was going to save some of those for a little bit later.

Question: Koji Ikeda - BofA Global Research - Analyst : Okay, (multiple speakers) And then we'll move on to some demand questions, AI questions or -- and that kind of stuff. And so I think this is a little -- this is important. And so when we look at the financial model -- and you rattle off a lot of metrics here. And even when I pop open the model on our computers, it's a big revenue model. There's lots of stuff going on there and sometimes it can be overwhelming. And so maybe help us understand or distill it down to the one, two or three metrics that we should be focused on the most that shows the underlying power of the business.

Question: Koji Ikeda - BofA Global Research - Analyst : Thank you. Let's focus on this first one: cloud growth, 35% guide for this year at scale, big scale. I mean, cloud can be -- your cloud ARR could be a standalone business essentially, right? It's a big company right there. And you guided at 31% to 33% through fiscal '26. So feels like high visibility, high confidence in your visibility. But what I want to bring it to is the demand environment, right? You just delivered 35%-plus growth for cloud in this quarter. You're guiding to 35%-plus. We've seen a lot of things happened in software over the past six months, I will say, and -- but you guys are operating very, very well out there. So maybe a question for you, Amit. What are you seeing out there in the macro demand environment right now? How does it compare to maybe six months ago? How does it compare to a year ago? How are you feeling right now?

Question: Koji Ikeda - BofA Global Research - Analyst : So what of AI products? And I think when we think about data, it always feels like from the Investor community -- us included for sure -- is that it sure seems like all the data is going to eventually be in the cloud. But I think it would be -- help to understand what frame -- or frame for us how much data is sitting in, I guess, sitting in a closets, sitting in AS/400, somewhere in some location. What does the typical enterprise look like today with how much data that is just -- that needs to be leveraged, monetized, governed all that kind of stuff?

Question: Koji Ikeda - BofA Global Research - Analyst : Guys, let's just -- categorizing those data managers within organizations, just very broad. And over the past 18 months, they've been hitting the base with generative AI, what to do with it, all knowing that data is very heated. So these data managers that you sell to, have they figured out what they need to do? I mean, do they understand what's happening? Are they still trying to figure out -- I mean, what does that data manager coming to you as their pain points today? Is it different than what it was a year ago?

Question: Koji Ikeda - BofA Global Research - Analyst : And you mentioned Informatica rule. It just happened a couple of weeks ago. We went top -- a lot of customers, a lot of partners, a lot of positive things to say about Informatica. So maybe you could sum it up for us in the key theme -- I'm going to give you those themes maybe to hopefully talk about -- one thing that you mentioned on the big screen was Informatica for GenAI and GenAI for Informatica. So maybe help unpack that a little bit. What does that mean?

Question: Koji Ikeda - BofA Global Research - Analyst : Want to dig in a little bit deeper on CLAIRE GPT, of -- we see a lot of copilots and GTP features out there from lots of software vendors. And overall, it feels like a lot of them are at a knowledge-based access. Like how do we use this application better? But when I saw the demo with you guys a couple of weeks ago, it seemed different, right? You get asked -- you can use this tool to ask questions. And I'm going to probably butcher this, but it's like you can put data together in real time and see things. And so it seems like it's many steps beyond just accessing a knowledge base. It's actually providing answers, putting data together. So hopefully, I did it justice, but maybe you could explain a little bit better technologically why you're able to do that. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 05, 2024 / 5:00PM, INFA.N - Informatica Inc at Bank of America Global Technology Conference

Question: Koji Ikeda - BofA Global Research - Analyst : Mike, I wanted to ask you a question -- one question here and then I wanted to open up to the floor to see if there's any questions from the audience. But a question for you, Mike, specifically is when you're setting up the guidance -- two-part question on guidance. So when you're setting up the guidance -- and you did give that fiscal '26 guide for cloud. I think it's super attractive, 30%-plus -- what are you seeing out there either from your pipeline perspective or demand perspective that's giving you that confidence? And kind of going back to one of the -- one thing I said earlier, it's been bold. And we're definitely in a world of just give me some software public companies where there's no surprises. And so your guidance methodology, just can you walk us through it? So in the future, as you report, there's just -- we're just prepared or -- prepared to not having a surprise. How should we be thinking about your guidance?

Question: Koji Ikeda - BofA Global Research - Analyst : Okay. I thought I was going to be able to open up to the audience, but we're running out of time. So I just want to throw in one last question, Amit, for you. What are you most excited about Informatica for the next 12 to 24 months -- positive, right? But what are you maybe a little bit worried about or what keeps you up at night, too, over the next 12 to 24 months?

Question: Koji Ikeda - BofA Global Research - Analyst : We are out of time. Thank you so much, Amit, Mike, for doing this. This has been fun.