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
: Andrew, maybe for you first. Obviously, I think we all understand at least that this business is not as cyclical as Autodesk of old. And I think that's
clear through the subscription transition here. Now if the global economy works is slow, I just wanted to double-click on really the value of your
subscriptions and why these renewal rates could be better than a lot of investors perceive even if there is a slowing.
Question: Matthew George Hedberg - RBC Capital Markets, Research Division - Analyst
: That's super helpful. And then, Debbie, we'll see if your voice can hold up here. Obviously, a big year for multiyear renewals that ramps throughout
the year, but I'm wondering, was there anything that surprised you about billings duration in 1Q? And maybe how might that progress as the year
unfolds?
Question: Steven Richard Koenig - SMBC Nikko Securities America, Inc., Research Division - Analyst
: Debbie, I have a cold, too, and it's not COVID. So we're in the same boat. So hope you get better soon here.
I wanted to -- I may have missed it and apologize if I did, but can you give us a little more specifics on when you saw business start to bounce back
in EMEA? Was it right at the end of the quarter? Was it a week after? Was it a little before? And yes -- and then I've got one more for you, Debbie.
Question: Steven Richard Koenig - SMBC Nikko Securities America, Inc., Research Division - Analyst
: And was it -- I was trying to parse your earlier statements. Was it kind of balanced between new business and renewals? Or was it kind of more one
or the other?
Question: Steven Richard Koenig - SMBC Nikko Securities America, Inc., Research Division - Analyst
: Yes, got it. Got it. Okay. Great. And then for my follow-up, and actually either of you are welcome to answer this as you see fit. So you raised prices
at the end of March. And I'm sure that's all embedded in your guidance and it allows you to invest appropriately and get to the margins you want.
How do you think about in this inflationary environment your internal compensation trajectory and also what you're doing with partners? And
how does inflation affect your plans there? What do you have to tweak or finesse to -- you have very high employee retention. You have very good
rates. So how do you maintain that?
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