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
: Maybe just to start from a macro perspective, it sounds like you saw fairly stable results, which is good to hear. Maybe just a double clicking on that
a little bit more. Could you talk about some of the trends maybe towards the end of the quarter and kind of the first month of Q3? Kind of continued
stability, is that kind of what you're seeing despite obviously some sort of still macro uncertainty?
Question: Matthew George Hedberg - RBC Capital Markets, Research Division - Analyst
: Got it. And then following your user events and obviously, you talked on this call about CLAIRE copilot and CLAIRE GPT. Could you talk a little bit
more about like -- obviously, you probably haven't assumed much from either this year in estimates. But do you expect that to be a monetization
effort in kind of calendar '24? Just how should we think about some of these GenAI products flowing into growth?
Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst
: One more philosophical question for you on AI. One of your customers we spoke to said Informatica is putting itself in a place of power with open
APIs, which is an interesting comment. But when I talk to investors, a lot of people kind of bring about companies like Databricks, which are doing
a lot of things. And it seems like there is a tussle between -- also when I talk to customers, right, there's a tussle between the IT people who wants
to use Informatica and the data science developers who want to write Python scripts on top of Databricks. Like how do you think of that tussle
kind of plays out over time?
Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst
: Yes. Yes, understood. I think that's a thoughtful answer. One question on ARR. Obviously, you came in ahead of where people were expecting. But
when I was looking at kind of net new, it seems like it's on cloud ARR. It seems like you added kind of the same amount versus a year ago. Maybe
I'm thinking this wrong. But as you are kind of leaning in on cloud, you're no longer selling self-managed. Should you be adding more cloud versus
a year ago on a net new basis?
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