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
: Great. Great quarter. I mean there's lots of positives. Obviously, the Elastic cloud growth, the -- I think what was a record new customer
add and now this -- the $1 billion fiscal '23 or $1 billion-plus fiscal '23 target.
I guess when we start thinking about the progress to that target, Shay, it seems to me that Security is going to be an increasingly
important part of your business. And I guess following all these breaches, it really seems like we have a data problem. With all the
security solutions out there, can you talk about your ability to perhaps consolidate some spend, help customers feel even more
secure, really harnessing the power of data to maybe make smarter security decisions?
Question: Matthew George Hedberg - RBC Capital Markets, Research Division - Analyst
: That's super helpful. And then I guess, maybe to sort of double click on that a little further. With your success in Enterprise Search,
it strikes me also that you're in a really good position to help organizations with a data governance risk. Really, your search engine,
being able to identify sensitive information, monitor access to this, wherever that might sit, whether it's on-premise or in cloud data
stores. Am I right in thinking that this could be a growing trend for you looking forward?
Question: Kasthuri Gopalan Rangan - Goldman Sachs Group, Inc., Research Division - Analyst
: One for Shay, one for Janesh. Shay, with respect to the cloud as a future of the company, do you believe that pivoting to the cloud
is ultimately the -- I don't want to use the word end game, but the strategic outcome for the company, granted that your cloud
business is doing well, it was up 77%.
So what kind of opportunity do you see in your installed base to get everybody on the cloud platform ultimately in the future? And
I'll stop with that question before I ask Janesh's question.
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JUNE 02, 2021 / 9:00PM, ESTC.N - Q4 2021 Elastic NV Earnings Call
Question: Kasthuri Gopalan Rangan - Goldman Sachs Group, Inc., Research Division - Analyst
: Wonderful. And one for you, Janesh. As the company transitions to the cloud, how should we think about how you're going to be
managing -- you've been fantastic as a public company, managing your expenses and what not, proving that the guidance has good
visibility. How should we think about how you'll be managing through the business model transition, if there is any transition at all
as part of the consideration? Congrats on the quarter.
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