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: Saket Kalia - Barclays Services Corp - Analyst
: That's a great perspective and makes a ton of sense. I want to move to some questions just around ARR and revenue kind of broad brushes
for the year. But before we do that, any questions here from the audience? One there in the back, if we can just move the mic over
Unidentified Participant
Great. Can you guys hear me okay?
Question: Saket Kalia - Barclays Services Corp - Analyst
: Any follow-ups here? Maybe going on that point, Kiran, maybe for you. I don't want to spend the last few minutes on accounting dynamics
necessarily. I think a lot of us understand the material rights point. But you've been very clear from the beginning of the year, right, that
material rights impacts the revenue comp, right, for next year.
It does not impact ARR. But you gave some really helpful broad brushes in this call in terms of how to think about the relative growth rates
between the two conceptually, right? So maybe just for the benefit of everybody, can you just remind us what you've said as we sort of find
fine-tune our models going into next year?
Question: Saket Kalia - Barclays Services Corp - Analyst
: Absolutely. Take a look at our note for some of the estimates that we put around it, hopefully, if that can be helpful. In the last minute or two
that we've got here, I want to wrap up here with Bipul. Bipul, visionary CEOs like you tend to think about, as two and three earlier than most,
right? And so as we think about sitting here together again next year at this time, right, what are some of the milestones that you want to
be talking about with identity, with agentic as we kind of go through the next year? Open-ended question.
Question: Saket Kalia - Barclays Services Corp - Analyst
: I couldn't think of a better way to end right there. Bipul, Kiran, thank you so much for the time. I appreciate it.
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