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: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst
: This is Pinjalim on behalf of Mark. Congrats on the results. Shay, I just want to ask you about schema on read. We have always heard that schema
on read is something that Splunk and Sumo has and Elastic does not have, and that kind of results in a better ease of use for those platforms versus
Elastic. But now you have schema on read.
So how should investors think about that? I mean do you think it elevates the ease of use of the platform versus competition and makes it much
more consumable to a nondeveloper audience? Or does it actually increase the latency for search?
Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst
: Understood. And Janesh, one quick question for you. When I'm looking at the guidance, obviously, you came in well above your guidance this
quarter. You came in well above last quarter. But the guidance in the back half seems like -- calls for a big slowdown, but it seems like you're saying
that the environment that you saw in the first half would be similar in the second half. So I'm trying to kind of put both of that together.
Maybe the question is, I mean, what surprised you positively in the first half and in the October quarter, but what your guidance was, but what
were you expecting? And then what gives you caution in the second half for that slowdown to happen?
Question: Daniel Robert Bergstrom - RBC Capital Markets, Research Division - Analyst
: It's Dan Bergstrom for Matt Hedberg. So your new customer additions ticked up -- or ticked back up nicely this quarter versus the first quarter. I
know top of the funnel had remained strong. You called that out, the number proved that out. Is this just seasonal strength here in the second
quarter? Or are there more specifics around the higher number of new customers versus last quarter?
Question: Daniel Robert Bergstrom - RBC Capital Markets, Research Division - Analyst
: Great. And then maybe could you talk a little bit more about the opportunity in the installed base? What's driving new product adoption for
customers? And then what would help -- or is driving adoption of multiple product categories for those $100,000-type ACV customers? How does
that work more towards the levels of the $1 million-plus ACV customers?
Question: Yitchuin Wong - Citigroup Inc., Research Division - Analyst
: This is Yitchuin dialing in for Tyler today. I have a quick question on -- like competitively, it looks like Splunk missed their numbers and then stopped
it down and like some of the growth decelerated rapidly. Meanwhile, for you guys, this growth has been holding steady and is not like going up.
Like have you guys seen anything shifted competitively versus Splunk for the quarter?
Question: Yitchuin Wong - Citigroup Inc., Research Division - Analyst
: I also want to touch on the margins question. It looks like you guys are going down way faster than before. I just wanted to see, how should we be
thinking on the cadence of the margins going back for next year, if you're going to see [a staring] go back up? Or how are you guys thinking for
next?
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