Teradata Corp at JPMorgan Global Technology, Media and Communications Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst : So maybe we can start with a little bit of introduction about yourself, maybe a little bit about Teradata as well for the folks in the room that don't know about?

Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst : Yes, that's a great intro. I want to deep dive into the transformation that you are talking about. But before that, Teradata, as you say, is a key player in data analytics, data warehousing. Maybe talk about some of the key trends that you're seeing in that space in general, just zooming out a bit. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 24, 2023 / 12:40PM, TDC.N - Teradata Corp at JPMorgan Global Technology, Media and Communications Conference

Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst : Yes. Interesting. Okay. Now let's talk about just a transformation journey. You joined in 2020. Teradata was on-premise 10 years ago, probably. Now it's more cloudy. You have -- it seems like the business model has changed about 80%, recurring revenue now. Walk us through that transformation, talk about kind of the challenges and the learnings that you've gone through.

Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst : So 30%, 35% cloud ARR at this point. It's a big change, 70% to 30% kind of inverting that. So you have talked about the product strategy a little bit. You launched the, what you call, the VantageCloud Lake recently, you've kind of capitalizing on the core parallel processing IP that Teradata already -- always had. Maybe talk about that evolution of the product strategies?

Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst : Yes. It's interesting -- so your strategy is not to bring in the data, not to wrap...

Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst : Yes. You -- before VantageCloud Lake, I think you had announced something called Vantage Enterprise, I believe, right? Talk to us about kind of the difference between the two. And maybe is there a difference of use cases between the two as well?

Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst : So it's very complementary.

Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst : Okay. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 24, 2023 / 12:40PM, TDC.N - Teradata Corp at JPMorgan Global Technology, Media and Communications Conference

Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst : Maybe talk about the adoption. You said you'd launched it in August of last year. I think the GA was beginning of this year, right. So it's not been too long, but what have you seen from customers? Is there -- is it a new logo story? Is there a migration story to it with VantageCloud Lake?

Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst : Yes. Let's talk a little bit about competition. It is an interesting field. There are a lot of new players. There are a lot of strong players. Snowflake. You have all the hyperscalers, their own things. Talk about how do you see that competitive landscape? Why do you win when you win? Why do you lose? Can you talk about just all that dynamic?

Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst : Yes. The multi-cloud, the hybrid cloud, all those points make sense, the born in the cloud query part. Have you done any kind of studies in terms of similar workloads running in Snowflake or Redshift and Teradata. Have you done any kind of...

Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst : Right. Let's talk a little bit about macro. Talk about how -- what are you seeing in the macro environment? How is it impacting Teradata? And more recently, when you're talking to customers, what is the sense of the current kind of business environment?

Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst : Yes. Understood. I want to see if anybody in the audience have any questions? Okay. We have a few hands. Unidentified Analyst Great. It's quite the transformation. You talked about making data easily available, liberating the data, it seems like sort of the Holy Grail in a lot of ways. So the question I have is, should that mean at some point you will start winning new logos?

Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst : I would like to have a dialogue with my shopping cart. Unidentified Analyst Yes. Can you talk about maybe the unstructured data and whether you guys are able to run queries for unstructured data versus relational data and how that's evolved over time and whether you're under-indexed or on par with industry? Maybe just talk about that.

Question: Pinjalim Bora - JPMorgan Chase & Co, Research Division - Analyst : I think we're out of time. 20 seconds is probably not enough for me to ask a question and for you to answer. So thank you so much for the insights. Thank you.