The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Matthew George Hedberg - RBC Capital Markets, Research Division - Analyst
: Congrats on really strong results again here. Shay, for you, I mean, lots of positives to drill into. But the surge in customers off of what was a really
strong 4Q is impressive. I'm wondering, at a high level, do you think the licensing change that you guys previously made is having a positive impact
on customer adds?
And maybe secondarily, when you look at growth in Elastic Cloud customers, how much of that is -- or I should say Elastic Cloud revenue, how
much of that is being driven by new customers versus expansion from your base?
Question: Matthew George Hedberg - RBC Capital Markets, Research Division - Analyst
: That's super helpful. And then, Janesh, just a quick one for you, sort of on the Elastic Cloud comment. You noted that the monthly usage doesn't
impact deferred revenue and, thus, billings. I was wondering if there's a way to kind of think about what that headwind represents to billings
growth. And maybe a different way of asking it would be, of your Elastic Cloud revenue, how much of it today is monthly versus annual or something
beyond annual?
Question: Steven Richard Koenig - SMBC Nikko Securities America, Inc., Research Division - Analyst
: Congrats, first of all, on a great quarter. It looks like you're crushing the Stonehenge monument onstage. I wanted to ask you about your hiring.
There's lots of hiring. Your job postings are like 3x the level they were even pre-pandemic. And so I'm kind of wondering -- and sales hiring looks
like it's increased a lot too -- kind of maybe some color on what's behind those trends and on how you're seeing productivity of new hires trend
and systemic productivity as well. And then I've just got one other question for you.
Question: Steven Richard Koenig - SMBC Nikko Securities America, Inc., Research Division - Analyst
: Great. And if I could do one follow-up per se. Shay, you've already talked about your differentiation in XDR, very helpful. I'm wondering, could you
just maybe educate us a little bit? Are you seeing your XDR solution as a replacement for what you've had? And is it an alternative to what you've
had in SIEM or traditional SIEM out there? Or is it complementary? Kind of how do you view that? How are customers viewing that as well?
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