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: Yitchuin Wong - Citigroup Inc., Research Division - Analyst
: Can you guys hear me all right?
Question: Yitchuin Wong - Citigroup Inc., Research Division - Analyst
: I'm just curious on some of the Elastic Cloud. It looks like it decelerated slightly on constant currency, which is kind of slightly surprising given the
strength we've seen on some of the competitors. And could you provide some other color as to the numbers? What do you see there, some of your
new customer momentum or expansion trends from current customers. And I guess the follow-up to that is, we saw a blog post regarding the TLS
certificate change on Elasticsearch website that was completed in the end of October. And I was just wondering if you guys think there would be
any effect on usage trend that we've seen, seems to be slowing down a little bit. Yes. There we are.
Question: Yitchuin Wong - Citigroup Inc., Research Division - Analyst
: Not the licensing change. I know there's like a TLS certification change for the Elasticsearch website that comes in October. I think it was for the
Elastic Cloud or Elasticsearch website, there was a certificate change. And then because we saw some of the web traffic, it kind of decelerated
meaningfully. And we just figure it might be a coincidence that it just tracks just as you guys doing the certification change on your website on
the server.
Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst
: This is Pinjalim sitting on behalf of Mark. Shay, I wanted to ask you about Optimyze. Seems like it takes you into the observability of
cloud workloads. Is that entirely a cloud solution? And how does that compare with competitive products like Datadog
and SignalFx from Splunk?
Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst
: Understood. Does that kind of take you to parity versus some of the competitive products?
Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst
: Understood. And one for Janesh. Janesh, when I look at the sequential subscription revenue growth, seems like about 7%. It seems a bit lower if I
look at previous Q2s in prior year. Is there anything unusual in terms of linearity in the quarter or maybe your higher consumption-based mix now
doesn't even make sense to compare versus prior year? I mean any color would be helpful.
Question: Steven Richard Koenig - SMBC Nikko Securities America, Inc., Research Division - Analyst
: You've got this goal of getting Elastic Cloud to exceed 50% of total revenue in the next 3 years, which looks eminently doable. I'm wondering when
you look ahead to those next 3 years, what are going to be the key operational challenges or initiatives that you'll need to undertake or changes
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