Alteryx Inc (AYX) 2023 Q1 法說會逐字稿

Greetings. Welcome to the Alteryx First Quarter 2023 Earnings Conference Call. (Operator Instructions) Please note, this conference is being recorded. I will now turn the conference over to your host, Ryan Goodman, Head of Investor Relations. You may begin.

問候。歡迎來到 Alteryx 2023 年第一季度收益電話會議。 （操作員說明）請注意，正在錄製此會議。我現在將會議轉交給你的主持人，投資者關係主管 Ryan Goodman。你可以開始了。

Thank you, operator. Good afternoon, and thank you for joining us today for Alteryx's First Quarter 2023 Earnings Conference Call. I'm Ryan Goodman, Alteryx's Head of Investor Relations. With me on the call today are Mark Anderson, Chief Executive Officer; and Kevin Rubin, Chief Financial Officer. Additionally, Paula Hansen, our President and Chief Revenue Officer; and Suresh Vittal, our Chief Product Officer, will be joining us for the question-and-answer session after prepared remarks.

謝謝你，運營商。下午好，感謝您今天加入我們參加 Alteryx 2023 年第一季度收益電話會議。我是 Alteryx 的投資者關係主管 Ryan Goodman。今天與我通話的有首席執行官馬克·安德森 (Mark Anderson)；以及首席財務官 Kevin Rubin。此外，我們的總裁兼首席營收官 Paula Hansen；我們的首席產品官 Suresh Vittal 將在準備好的發言後加入我們的問答環節。

This afternoon, we issued a press release announcing our results for the first quarter ended March 31, 2023, as well as our shareholder letter with key metrics and commentary on the results. If you would like a copy of the release and shareholder letter, you can access both online on our Investor Relations website. During this call, we will make forward-looking statements related to our business, including statements about our financial guidance for the second quarter and full year 2023.

今天下午，我們發布了一份新聞稿，宣布了截至 2023 年 3 月 31 日的第一季度業績，以及包含關鍵指標和業績評論的股東信函。如果您想要一份新聞稿和股東信的副本，您可以在我們的投資者關係網站上在線訪問。在此次電話會議中，我們將做出與我們業務相關的前瞻性陳述，包括關於我們 2023 年第二季度和全年財務指導的陳述。

These statements are not guarantees of future performance. They are subject to a variety of risks and uncertainties, some of which are beyond our control. Our actual results could differ materially from expectations reflected in any forward-looking statement. For a discussion of additional forward-looking statements made during this call and the material risks and other important factors that could affect our actual results, please refer to our SEC filings available on the SEC's website and our Investor Relations website as well as the risks and other important factors discussed in today's earnings release.

這些陳述不是對未來表現的保證。它們受到各種風險和不確定性的影響，其中一些是我們無法控制的。我們的實際結果可能與任何前瞻性聲明中反映的預期存在重大差異。有關本次電話會議期間所做的其他前瞻性陳述的討論以及可能影響我們實際結果的重大風險和其他重要因素，請參閱我們在美國證券交易委員會網站和我們的投資者關係網站上提供的美國證券交易委員會文件以及風險和今天的收益發布中討論的其他重要因素。

Additionally, non-GAAP financial measures will be discussed on today's call. A reconciliation of these measures to their most directly comparable GAAP financial measures can be found in today's earnings release. With that, I'd like to turn the call over to Chief Executive Officer, Mark Anderson.

此外，非 GAAP 財務措施將在今天的電話會議上進行討論。在今天的收益發布中可以找到這些措施與其最直接可比的 GAAP 財務措施的調節。有了這個，我想把電話轉給首席執行官馬克安德森。

Thank you, Ryan, and thank you all for joining us today. We delivered all key Q1 financial metrics within or above our guided range. Q1 revenue came in at $199 million, up 26% year-over-year. Annualized recurring revenue or ARR came in at $857 million, up 25% year-over-year and Q1 non-GAAP operating loss was $18 million, beating our outlook as we continued to focus on spending discipline across the company.

謝謝你，瑞安，感謝大家今天加入我們。我們在我們的指導範圍內或之上提供了所有關鍵的第一季度財務指標。第一季度收入為 1.99 億美元，同比增長 26%。年度經常性收入或 ARR 為 8.57 億美元，同比增長 25%，第一季度非 GAAP 營業虧損為 1800 萬美元，超出了我們的預期，因為我們繼續關注整個公司的支出紀律。

We are pleased to have delivered on growth and exceeded our non-GAAP operating profitability outlook for the first quarter. Our financial results demonstrate the value that our innovation delivers to customers everywhere, even when facing some continued tightening of the broader IT spend environment. More specifically, we saw changes in customer buying behavior late in the quarter. Customers are applying more scrutiny on deals, which has continued to lengthen our overall sales cycles.

我們很高興第一季度實現了增長並超過了我們的非 GAAP 運營盈利預期。我們的財務業績證明了我們的創新為世界各地的客戶帶來的價值，即使是在更廣泛的 IT 支出環境持續收緊的情況下。更具體地說，我們在本季度末看到了客戶購買行為的變化。客戶正在對交易進行更多審查，這繼續延長了我們的整體銷售週期。

This, in turn, led to some deals that we would have expected to close in a more stable economic backdrop, slipping out of the quarter. Despite continued macroeconomic uncertainty, we have not seen any material shift in the competitive dynamics, something we track closely. Now the guidance that we provided last quarter accounted for some of this macro risk. That prudence, along with our strong execution and a loyal customer base, enabled us to navigate through this backdrop and deliver on our commitments.

反過來，這導致一些我們預計會在更穩定的經濟背景下完成的交易在本季度結束。儘管宏觀經濟持續存在不確定性，但我們並未看到競爭態勢發生任何實質性變化，我們對此進行了密切跟踪。現在，我們上個季度提供的指導說明了部分宏觀風險。這種審慎態度，加上我們強大的執行力和忠實的客戶群，使我們能夠在這種背景下駕馭並兌現我們的承諾。

Customers need our innovation today more than ever. We're seeing robust trends with net expansion and renewal rates. Given our standout 2022 performance and resilience thus far in 2023, I believe we have the right initiatives in place and can continue to stay agile and successful in this dynamic environment. Seasonally, Q1 is our smallest quarter of the year in terms of bookings activity.

今天，客戶比以往任何時候都更需要我們的創新。我們看到了淨擴張和續訂率的強勁趨勢。鑑於我們在 2023 年迄今為止出色的 2022 年表現和彈性，我相信我們已經採取了正確的舉措，並且可以在這個充滿活力的環境中繼續保持敏捷和成功。就季節性而言，第一季度是我們一年中預訂活動最少的一個季度。

That said, it's an important time to calibrate the business model to drive continued success for the rest of the year. And in times of dynamic macroeconomic conditions, it is especially key that we stay closely engaged with customer temperament and agile in terms of strategic planning and execution. There are a few elements here I would like to highlight. First, we are executing on our top-down enterprise class sales motion.

也就是說，現在是調整商業模式以推動今年剩餘時間持續成功的重要時刻。在宏觀經濟條件瞬息萬變的時代，我們在戰略規劃和執行方面密切關注客戶氣質和敏捷性尤為關鍵。這裡有幾個要素我想強調一下。首先，我們正在執行自上而下的企業級銷售計劃。

Understanding spending priorities is critical in the current environment. We have aligned our resources as well as our partner ecosystem around proving the value that Alteryx delivers. Second, we are benefiting from the tight controls we have instilled in the go-to-market motion. This discipline in deal structure and pricing has enabled us to deliver consistent financial results over the past year and is key to driving durable and profitable growth going forward.

在當前環境下，了解支出重點至關重要。我們已經調整了我們的資源以及我們的合作夥伴生態系統，以證明 Alteryx 提供的價值。其次，我們受益於我們在進入市場行動中灌輸的嚴格控制。這種在交易結構和定價方面的紀律使我們能夠在過去一年中取得一致的財務業績，並且是推動未來持久和盈利增長的關鍵。

And third, we recently took a close look throughout the organization for opportunities to optimize our cost structure. The variable nature of our cost structure provides us the ability to stay nimble in this environment. And we announced today that we are executing a plan to reduce full-time employee headcount by approximately 11%. This is certainly not a decision we take lightly, and we deeply appreciate each and every individual who has dedicated their time to Alteryx.

第三，我們最近仔細研究了整個組織，尋找優化成本結構的機會。我們成本結構的可變性使我們能夠在這種環境中保持靈活。我們今天宣布，我們正在執行一項計劃，將全職員工人數減少約 11%。這當然不是我們輕易做出的決定，我們非常感謝每一位為 Alteryx 奉獻時間的人。

With that, let me share a few highlights from the quarter. In mid-February, we announced all access general availability of Designer Cloud, along with enhancements in governance certifications for the Alteryx Analytics Cloud platform. Alteryx Analytics Cloud is now embedded in every aspect of our go-to-market strategy. Our Global 2000 penetration increased to 47%, up 2 points from this time last year as we continue to gain traction with top organizations around the globe.

就此，讓我分享本季度的一些亮點。 2 月中旬，我們宣布了 Designer Cloud 的所有訪問普遍可用性，以及 Alteryx Analytics Cloud 平台的治理認證的增強功能。 Alteryx Analytics Cloud 現在已嵌入我們上市戰略的各個方面。我們的 Global 2000 滲透率增加到 47%，比去年同期提高了 2 個百分點，因為我們繼續獲得全球頂級組織的關注。

This growing presence provides us with significant greenfield opportunities to expand within our base. Case in point, our Global 2000 net expansion rate increased to 131%, up 2 points versus the prior quarter. We're continuing to see strong year-over-year growth momentum in ELAs sold with many customers already using burst capacity. For customers with ELA sold prior to Q1 that are still in the first phase, approximately 1/3 have engaged with that additional capacity.

這種不斷增長的存在為我們提供了在我們的基地內擴張的重要綠地機會。例如，我們的全球 2000 強淨擴張率增至 131%，比上一季度高 2 個百分點。我們繼續看到 ELA 的同比增長勢頭強勁，許多客戶已經在使用突發容量。對於在第一季度之前售出 ELA 且仍處於第一階段的客戶，大約有 1/3 參與了該額外產能。

And on the financial front, we completed a $450 million offering of senior unsecured notes. This reflects a $100 million upsizing from the initial proposed amount given the strong market reception and demand. We accomplished a lot as a company in Q1. And while the economic backdrop was and continues to be challenging, the company executed at a high level and delivered on multiple key initiatives. We believe we're on the right path, and we have the right people to drive continued leadership and execution in this market.

在財務方面，我們完成了 4.5 億美元的高級無抵押票據發行。鑑於強勁的市場接受度和需求，這反映出最初提議的金額增加了 1 億美元。作為一家公司，我們在第一季度取得了很多成就。儘管經濟背景過去並將繼續充滿挑戰，但公司執行力高，並實施了多項關鍵舉措。我們相信我們走在正確的道路上，我們有合適的人來推動在這個市場上的持續領導和執行。

Our product innovation is a great example of this. In the span of just 1 year, we acquired and integrated a multi-tenant, multi-cloud architecture. We introduced the Alteryx Analytics Cloud platform, and we have just recently announced All Access availability of Designer Cloud. We are seeing strong early interest in our cloud offerings from both our customers and partner community. The number of customers leveraging our cloud solutions increased over 30% year-over-year in Q1.

我們的產品創新就是一個很好的例子。在短短 1 年的時間裡，我們獲得併集成了一個多租戶、多雲架構。我們推出了 Alteryx Analytics Cloud 平台，並且最近剛剛宣布了 Designer Cloud 的 All Access 可用性。我們看到客戶和合作夥伴社區對我們的雲產品很早就產生了濃厚的興趣。第一季度，使用我們的雲解決方案的客戶數量同比增長超過 30%。

Our proven ability to quickly create value in high priority use cases with our flagship solutions has earned us the permission from many of our customers to explore incremental use cases and personas within the Alteryx Analytics Cloud platform. For example, we have a multibillion-dollar national commercial landscape customer that has leveraged Designer and Server for several years to unlock significant savings and eliminate single points of failure.

我們通過旗艦解決方案在高優先級用例中快速創造價值的能力已得到證實，這使我們獲得了許多客戶的許可，可以在 Alteryx Analytics Cloud 平台內探索增量用例和角色。例如，我們有一個價值數十億美元的國家商業景觀客戶，多年來一直利用 Designer 和 Server 來節省大量資金並消除單點故障。

In Q1, this customer expanded with additional Designer seats, plus added our cloud-native Auto Insights to provide AI-driven operational insights and visualization for leaders across hundreds of branch offices. We're also finding that our cloud innovation is creating opportunities for new logo customers. We had a great win with a leading provider of entertainment and telecommunication services in Belgium, who signed on for a cloud ELA during Q1. Our well-established designer capabilities and interface aligned with the customers' vision of enhancing customer engagement analytics, and our ability to deliver this in a cloud environment with Designer Cloud was key to earning us the win.

在第一季度，該客戶增加了 Designer 席位，並添加了我們的雲原生 Auto Insights，為數百個分支機構的領導者提供 AI 驅動的運營洞察力和可視化。我們還發現我們的雲創新正在為新徽標客戶創造機會。我們與比利時一家領先的娛樂和電信服務提供商大獲全勝，他們在第一季度簽署了雲 ELA。我們完善的設計師功能和界面符合客戶增強客戶參與度分析的願景，以及我們使用 Designer Cloud 在雲環境中提供此功能的能力是我們贏得勝利的關鍵。

Alteryx Analytics Cloud platform allows us to sell new low-friction use cases and to new personas. And we have several exciting updates on the generative AI and cloud innovation road map to share. First, we're further developing ways to incorporate AI and ML throughout the platform, including some highly differentiated use cases with generative AI that enhance ease of use for knowledge workers and broaden the scope of analytics for all.

Alteryx Analytics Cloud 平台使我們能夠銷售新的低摩擦用例和新角色。我們有幾個關於生成 AI 和雲創新路線圖的激動人心的更新要分享。首先，我們正在進一步開發將 AI 和 ML 整合到整個平台的方法，包括一些具有生成 AI 的高度差異化用例，這些用例可以提高知識工作者的易用性並擴大所有人的分析範圍。

Specifically, we are embedding large language models to help with text summarization, enhanced optical character recognition and topic modeling. Additionally, by integrating these large language models with Auto Insights, we will help customers to reduce the time from insight to action. As always, we are building generative AI capabilities into our products with our signature ease of use aimed at amplifying an analyst's stability.

具體來說，我們正在嵌入大型語言模型，以幫助進行文本摘要、增強的光學字符識別和主題建模。此外，通過將這些大型語言模型與 Auto Insights 集成，我們將幫助客戶縮短從洞察到行動的時間。一如既往，我們正在以我們標誌性的易用性在我們的產品中構建生成人工智能功能，旨在增強分析師的穩定性。

And second, as customers incorporate Alteryx into their cloud transformation initiatives, we're enhancing our integrations with adjacent offerings throughout the data analytics platform, such as cloud data warehouses, governance and visualization solutions. In addition, we are focused on delivering unified analytic experiences across our flagship and cloud offerings to enable faster time to value for our customers. We'll have a lot more to share across these themes such as governance, security, interoperability and generative AI at our Inspire User Conference next month.

其次，隨著客戶將 Alteryx 納入他們的雲轉型計劃，我們正在加強與整個數據分析平台中相鄰產品的集成，例如雲數據倉庫、治理和可視化解決方案。此外，我們專注於在我們的旗艦產品和雲產品中提供統一的分析體驗，以更快地為我們的客戶實現價值。在下個月的 Inspire 用戶大會上，我們將在治理、安全、互操作性和生成 AI 等主題上分享更多內容。

We have the most comprehensive portfolio of offerings in the history of the company, and we have a significantly enhanced go-to-market motion comprised of a well tenured sales team, a partner ecosystem that expands our reach and unlocks incremental opportunities and the customer success team that helps customers operationalize with faster time to value. We continue to see success with large enterprise organizations. The cohort of our largest customers delivered our highest year-over-year ARR growth once again in Q1.

我們擁有公司歷史上最全面的產品組合，我們擁有一支經驗豐富的銷售團隊、一個合作夥伴生態系統，可擴大我們的影響範圍並釋放增量機會和客戶成功，從而顯著增強了進入市場的動力幫助客戶以更快的時間實現價值的運營團隊。我們繼續看到大型企業組織的成功。我們最大的客戶群體在第一季度再次實現了我們最高的 ARR 同比增長。

This reflects not just growth in the number of large companies we engage with, but also our ability to prove value and earn the right to expand within these customers over time. Customers are asking for repeatable use cases that enable them to do more with less. Our ability to quickly deliver on this with analytics, automation and governance enables us to accelerate the expansions and adoption across the enterprise.

這不僅反映了與我們合作的大公司數量的增長，還反映了我們隨著時間的推移證明價值並贏得在這些客戶中擴展的能力。客戶要求可重複的用例，使他們能夠事半功倍。我們通過分析、自動化和治理快速實現這一目標的能力使我們能夠加速整個企業的擴展和採用。

We've strategically aligned our enterprise sales strategy to make the expansion path as easy as possible for customers. One example of this is our increasing engagement with customers at the executive level. This provides a level of visibility that enables a more deliberate strategic expansion motion across multiple functional areas within the organization. We had a great Q1 win with a global leader in management consulting that demonstrates this dynamic.

我們在戰略上調整了我們的企業銷售戰略，使客戶的擴張之路盡可能輕鬆。這方面的一個例子是我們在執行層面與客戶的接觸越來越多。這提供了一定程度的可見性，可以在組織內的多個職能領域進行更深思熟慮的戰略擴張行動。我們在第一季度與一家管理諮詢領域的全球領導者取得了巨大的成功，證明了這種動態。

After a small initial Designer implementation in 2022, we closely engaged at the executive level to align Alteryx as a core component of their vision for analytic enablement. With a meaningful expansion upon renewal, the customer looks now to leverage Designer across multiple vertical and product service teams, enhancing their client-facing service offerings at scale. The pace and scope of this expansion is simply not possible when limited to line of business level engagement.

在 2022 年初步實施 Designer 後，我們在執行層面密切參與，將 Alteryx 作為其分析支持願景的核心組成部分。隨著續訂後有意義的擴展，客戶現在希望在多個垂直和產品服務團隊中利用 Designer，從而大規模增強其面向客戶的服務產品。當僅限於業務線級別的參與時，這種擴展的速度和範圍是根本不可能的。

Another enterprise initiative we introduced about 2 years ago is our burstable ELA bundles. ELAs allow customers to sign on for a defined volume of licenses with flexibility to expand up to 50% beyond that for up to 1 year. This encourages exploration of new use cases and personas that we believe will contribute to broader Alteryx engagement over time. We saw great success in converting many of these bursts to upsells last year, and we're off to a solid start in 2023 with over 1/4 of the Q4 ELAs leveraging burst within the first 3 months.

我們大約 2 年前推出的另一項企業計劃是我們的可擴展 ELA 捆綁包。 ELA 允許客戶簽署定義數量的許可，並且可以靈活地在長達 1 年的時間內最多擴展 50%。這鼓勵探索新的用例和角色，我們相信隨著時間的推移，這些用例和角色將有助於更廣泛的 Alteryx 參與。去年，我們在將其中許多突發事件轉化為追加銷售方面取得了巨大成功，並且我們在 2023 年有了一個堅實的開端，超過 1/4 的第四季度 ELA 在前 3 個月內利用了突發事件。

We also continue to land new ELAs with both new and existing customers, which is a key component of our large enterprise sales strategy. Our partners have also emerged as a core driver of our go-to-market motion. Our partner program expands our global market reach and customer success capabilities. In addition, our larger partners often unlock access to key decision-makers and IT, reducing friction in the sales cycle.

我們還繼續為新客戶和現有客戶提供新的 ELA，這是我們大型企業銷售戰略的重要組成部分。我們的合作夥伴也已成為我們進入市場的核心驅動力。我們的合作夥伴計劃擴大了我們的全球市場範圍和客戶成功能力。此外，我們較大的合作夥伴通常會解鎖關鍵決策者和 IT 的訪問權限，從而減少銷售週期中的摩擦。

Partners once again influenced over half of the new ACV in Q1. We're particularly excited to see ramping enthusiasm and support for cloud within the partner ecosystem. One of our larger GSI partners added 500 Designer Cloud seats to their 1,000-plus Designer licenses as well as Auto Insights as they look to incorporate cloud more deeply in their internal operations and client-facing services. We're also seeing great opportunities emerge where we can bring together the Alteryx Analytics Cloud platform, GSI partner services and hyperscale cloud offerings for a unique and compelling customer offering.

合作夥伴再次影響了第一季度超過一半的新 ACV。我們特別高興地看到合作夥伴生態系統內對雲的熱情和支持不斷增加。我們的一個較大的 GSI 合作夥伴在他們的 1,000 多個 Designer 許可證和 Auto Insights 中增加了 500 個 Designer Cloud 席位，因為他們希望將雲更深入地融入到他們的內部運營和麵向客戶的服務中。我們還看到了巨大的機遇，我們可以將 Alteryx 分析雲平台、GSI 合作夥伴服務和超大規模雲產品結合在一起，提供獨特且引人注目的客戶產品。

And finally, our high-touch and digital customer success team underpins all of this positive momentum with customers. Customer success efforts are a driving force behind net expansion rate trends and renewal rates, particularly with our larger customer cohorts. These are the folks directly working with our customers with training, enablement and support, driving productive user engagement and identifying new opportunities for our customers to create value with Alteryx.

最後，我們的高接觸和數字客戶成功團隊為客戶提供了所有這些積極的動力。客戶成功努力是淨擴張率趨勢和續訂率背後的推動力，尤其是對於我們更大的客戶群。這些人直接與我們的客戶合作，提供培訓、支持和支持，推動高效的用戶參與，並為我們的客戶確定新的機會，以通過 Alteryx 創造價值。

In closing, as customers increasingly leverage Alteryx in mission-critical use cases across their organizations, we believe the business is well positioned to deliver durable, profitable growth. Over the past few years, we've successfully transitioned our business model from selling customers dozens of licenses to hundreds, and we have our eyes squarely said on the next order of magnitude. We're working with larger customers than ever before.

最後，隨著客戶越來越多地在其組織的關鍵任務用例中使用 Alteryx，我們相信該業務已做好充分準備，可以實現持久的盈利增長。在過去的幾年裡，我們已經成功地將我們的商業模式從向客戶銷售數十個許可證轉變為數百個，並且我們正著眼於下一個數量級。我們正在與比以往任何時候都更大的客戶合作。

We're delivering tangible value with our platform, earning us permission to explore new opportunities throughout organizations. We're engaging with top executives and aligning Alteryx as a strategic enabler of their analytic vision. We have partners and customer success teams closely engaged to drive upsell and expansion with ELAs, providing greater flexibility with exploration. And now with cloud innovations, we have a broader analytics platform to better assist our customers.

我們正在通過我們的平台提供有形的價值，從而獲得在整個組織中探索新機會的許可。我們正在與高層管理人員接洽，並將 Alteryx 作為他們分析願景的戰略推動者。我們的合作夥伴和客戶成功團隊密切合作，通過 ELA 推動追加銷售和擴張，為探索提供更大的靈活性。現在，借助雲創新，我們擁有更廣泛的分析平台，可以更好地幫助我們的客戶。

I'm so proud of the Alteryx team for the resilience and execution that we've delivered in what has not been an easy macroeconomic environment. Thank you to our customers, our employees and our partners. And finally, I look forward to seeing many of you at our upcoming Inspire User Conference in May. It's a great opportunity to engage with our community and see firsthand how Alteryx is truly democratizing analytics for all. With that, I'll turn the call over to Kevin for a closer look at the financials. Kevin?

我為 Alteryx 團隊在艱難的宏觀經濟環境中表現出的韌性和執行力感到非常自豪。感謝我們的客戶、我們的員工和我們的合作夥伴。最後，我期待在 5 月即將舉行的 Inspire 用戶大會上見到你們中的許多人。這是與我們的社區互動並親眼目睹 Alteryx 如何真正使所有人的分析民主化的絕佳機會。有了這個，我會把電話轉給凱文，讓他仔細看看財務狀況。凱文？

Thanks, Mark. We believe our Q1 financial results reflect the resilience and durability of our model in a challenging macro backdrop as well as our commitment to delivering improved non-GAAP operating profitability. ARR of $857 million, up 25% year-over-year and revenue of $199 million, up 26% year-over-year were both within our guided ranges. Robust renewal and retention rates contributed to the growth in Q1 with our overall dollar-based net expansion rate unchanged at 121% and Global 2000 net expansion rate up 2 points from the prior quarter to 131%.

謝謝，馬克。我們相信，我們的第一季度財務業績反映了我們模型在充滿挑戰的宏觀背景下的彈性和持久性，以及我們致力於提高非 GAAP 運營盈利能力的承諾。 ARR 為 8.57 億美元，同比增長 25%，收入為 1.99 億美元，同比增長 26%，均在我們的指導範圍內。強勁的續約率和保留率促進了第一季度的增長，我們以美元為基礎的整體淨擴張率保持在 121% 不變，全球 2000 年淨擴張率比上一季度上升 2 個百分點，達到 131%。

Non-GAAP operating profitability exceeded our outlook. This is the result of continued cost discipline across the organization, efficiencies of scale and the early benefits from cost-saving initiatives executed in Q4. Additionally, we delivered cash flow from operations of $40 million, which reflects our strongest cash collection quarter ever for Q1. Finally, we executed a successful $450 million offering of senior notes during the quarter, meaningfully strengthening our long-term capital position.

非 GAAP 營業利潤率超出了我們的預期。這是整個組織持續的成本控制、規模效率以及第四季度實施的成本節約計劃的早期收益的結果。此外，我們還提供了 4000 萬美元的運營現金流，這反映了我們第一季度現金收款最強勁的季度。最後，我們在本季度成功發行了 4.5 億美元的優先票據，顯著增強了我們的長期資本狀況。

We strongly believe that the transformation we instrumented over the past couple of years in innovating the platform and the resulting products we put in the hands of our sales team are enabling us to deliver durable financial metrics even in a challenging macro conditions. Our increased focus on large global organizations and our investments in our enterprise go-to-market motion are all yielding tangible results. We see it in ARR per customer, which increased over 20% year-over-year for the third consecutive quarter.

我們堅信，過去幾年我們在平台創新方面進行的轉型以及我們交付給銷售團隊的最終產品使我們能夠提供持久的財務指標，即使在充滿挑戰的宏觀條件下也是如此。我們對大型全球組織的更多關注以及我們對企業上市行動的投資都產生了切實的成果。我們在每位客戶的 ARR 中看到這一點，連續第三個季度同比增長超過 20%。

We see it in increasing average deal size, particularly with upsell wins for existing customers. And we see it in our robust gross retention and net expansion rates, which are showing strong durability at a higher scale than ever before. Cloud innovation also allows us to accelerate customers from ideation to deployment with a broader set of use cases and new personas. Customer response to our Alteryx Analytics Cloud platform has been strong, and new cloud bookings increased meaningfully quarter-over-quarter, a notable achievement given Q1 seasonality.

我們在增加平均交易規模方面看到了這一點，特別是在現有客戶的追加銷售中。我們在強勁的總保留率和淨擴張率中看到了這一點，它們在比以往任何時候都更高的規模上顯示出強大的持久性。雲創新還使我們能夠通過更廣泛的用例和新角色加速客戶從構思到部署的過程。客戶對我們的 Alteryx Analytics Cloud 平台的反應非常強烈，新的雲預訂量環比顯著增加，考慮到第一季度的季節性，這是一個顯著的成就。

We're seeing positive deal size momentum for cloud from both a year-over-year and quarter-over-quarter perspective. And more often than not, we are seeing cloud wins as an important element of larger upsell wins with customers across our platform of offerings. Consistent execution in both our go-to-market motion and product innovation enables us to deliver the results we did despite the more challenging macroeconomic environment.

從同比和環比的角度來看，我們都看到了雲的積極交易規模勢頭。通常情況下，我們將雲服務視為在我們的產品平台上贏得客戶更大追加銷售的重要因素。儘管宏觀經濟環境更具挑戰性，但我們在上市行動和產品創新方面的一致執行使我們能夠取得我們所做的成果。

When we guided on our last call, we had factored in some macroeconomic headwinds, but we did not anticipate the financial system events that occurred in the final weeks of the quarter, which did affect our customer behavior. While we have no material direct exposure to the impacted banks to date in terms of cash balances and no material vertical market concentration, we did see elevated deal scrutiny, longer sales cycles and shorter contract duration.

在我們進行最後一次電話會議時，我們已經考慮了一些宏觀經濟逆風，但我們沒有預料到本季度最後幾週發生的金融系統事件，這些事件確實影響了我們的客戶行為。雖然我們迄今為止在現金餘額方面與受影響的銀行沒有實質性的直接接觸，也沒有實質性的垂直市場集中度，但我們確實看到了更高的交易審查、更長的銷售週期和更短的合同期限。

And as we've demonstrated in recent years, while contract duration influences the timing of revenue recognition due to ASC 606 accounting, this has no impact on ARR. And given robust retention rates, we do not expect a material effect on our long-term revenue and profitability. As we look ahead to the rest of the year, we are constantly evaluating and calibrating our business. For example, in Q4, we saw an opportunity to further reduce our spending through real estate rationalization and some role and eliminations.

正如我們近年來所證明的那樣，雖然合同期限會影響 ASC 606 會計的收入確認時間，但這對 ARR 沒有影響。鑑於強勁的保留率，我們預計不會對我們的長期收入和盈利能力產生重大影響。展望今年剩餘時間，我們會不斷評估和調整我們的業務。例如，在第四季度，我們看到了通過房地產合理化以及一些角色和裁員來進一步減少支出的機會。

This accelerated our path to improved profitability for 2023, which remains a key priority for the company going forward. With that in mind, as Mark mentioned, earlier today, we announced a headcount reduction of approximately 11% or 320 full-time employees. This action will result in a charge of approximately $11 million to $13 million, primarily in Q2, and we expect will result in incremental cost savings of over $40 million in 2023. We have focused the cost-saving initiatives, primarily in sales and marketing and G&A to improve our efficiency as we scale and as we look to more closely align our financials with our long-term operating model.

這加快了我們在 2023 年提高盈利能力的步伐，這仍然是公司未來的一個關鍵優先事項。考慮到這一點，正如馬克所說，今天早些時候，我們宣布裁員約 11% 或 320 名全職員工。這一行動將產生大約 1100 萬至 1300 萬美元的費用，主要是在第二季度，我們預計到 2023 年將節省超過 4000 萬美元的增量成本。我們將成本節約計劃的重點放在銷售和營銷以及G&A 在我們擴大規模時提高我們的效率，因為我們希望更緊密地使我們的財務與我們的長期運營模式保持一致。

We will provide additional updates on these efforts next month at our Investor Day at Inspire. We believe we will deliver strong growth in 2023 and beyond, and we plan to do so with increased profitability. We have an incredible opportunity ahead of us. 2023 provides us with our largest renewal base ever. We have significantly higher renewal opportunities in Q4 2023 relative to Q4 2022. We believe that our gross retention levels plus the fact that nearly 3/4 of our ARR rest with loyal customers that have been with us for 5 years or more, demonstrates the critical nature of our platform for our largest customers.

我們將在下個月的 Inspire 投資者日提供有關這些努力的更多更新。我們相信，我們將在 2023 年及以後實現強勁增長，並且我們計劃以更高的盈利能力實現這一目標。我們面前有一個難以置信的機會。 2023 年為我們提供了有史以來最大的更新基礎。與 2022 年第四季度相比，我們在 2023 年第四季度的續約機會要高得多。我們認為，我們的總保留水平加上我們近 3/4 的 ARR 屬於已經與我們合作 5 年或更長時間的忠實客戶，這表明關鍵我們為最大客戶提供的平台的性質。

We have a growing book of ELAs that are actively leveraging burst capacity, and ELAs represented a growing percentage of new large enterprise deals in the quarter. We have an enhanced sales motion, an engaged partner ecosystem and an expanded customer success team. Our subscription services business continues to grow as customers ask for our leadership to execute their analytics strategy, demonstrating their confidence in Alteryx as the right long-term business partner. And of course, our Alteryx Analytics Cloud platform now offers full Access Availability to Designer Cloud, along with Alteryx Machine Learning and Alteryx Auto Insights, and we are seeing growing traction with existing and new customers.

我們有越來越多的 ELA 正在積極利用突發容量，ELA 在本季度新的大型企業交易中所佔的比例越來越大。我們擁有增強的銷售動力、參與的合作夥伴生態系統和擴大的客戶成功團隊。隨著客戶要求我們的領導執行他們的分析戰略，我們的訂閱服務業務持續增長，表明他們對 Alteryx 作為合適的長期業務合作夥伴的信心。當然，我們的 Alteryx Analytics Cloud 平台現在提供對 Designer Cloud 的完全訪問可用性，以及 Alteryx Machine Learning 和 Alteryx Auto Insights，我們看到現有和新客戶的吸引力越來越大。

And while the decision to recalibrate headcount is never easy, we expect to enter the second half of the year, driving meaningful increases in productivity, profitability and cash flow. With this framework in mind, let's turn to the Q2 '23 outlook. We expect ARR to be in the range of $902 million to $906 million, representing year-over-year growth of 24% to 25%. We expect GAAP revenue to be in the range of $180 million to $184 million, representing year-over-year growth of flat to up 2%.

雖然重新調整員工人數的決定絕非易事，但我們預計將在今年下半年推動生產力、盈利能力和現金流量的顯著增長。考慮到這個框架，讓我們轉向 Q2 '23 展望。我們預計 ARR 將在 9.02 億美元至 9.06 億美元之間，同比增長 24% 至 25%。我們預計 GAAP 收入將在 1.8 億美元至 1.84 億美元之間，同比增長持平至 2%。

This assumes a slight decline in contract duration year-over-year. We expect non-GAAP operating loss to be in the range of $52 million to $48 million. We expect non-GAAP net loss per share to be in the range of $0.69 to $0.65. This incorporates interest expense of approximately $10 million from the recent debt offering, assumes 70.5 million weighted average shares outstanding and an effective tax rate of 20%. For the full year 2023, we are maintaining our ARR range of $1.015 billion to $1.025 billion, representing growth of 22% to 23%.

這是假設合同期限同比略有下降。我們預計非 GAAP 營業虧損將在 5200 萬美元至 4800 萬美元之間。我們預計非 GAAP 每股淨虧損在 0.69 美元至 0.65 美元之間。這包括最近發行的債券產生的大約 1000 萬美元的利息支出，假設加權平均流通股為 7050 萬股，有效稅率為 20%。對於 2023 年全年，我們將 ARR 範圍維持在 10.15 億美元至 10.25 億美元之間，即增長 22% 至 23%。

We are maintaining our GAAP revenue to be in the range of $980 million to $990 million, representing year-over-year growth of 15% to 16%. We are increasing our non-GAAP operating profit range to $80 million to $90 million, reflecting planned spending discipline plus savings from the workforce adjustments announced today. Given our historical trends in revenue linearity, we expect the non-GAAP operating profit linearity in the second half to look similar to 2022. We expect non-GAAP profit per share to be in the range of $0.65 to $0.75.

我們將 GAAP 收入維持在 9.8 億美元至 9.9 億美元之間，同比增長 15% 至 16%。我們將我們的非 GAAP 營業利潤範圍提高到 8000 萬美元至 9000 萬美元，以反映計劃的支出紀律以及今天宣布的勞動力調整帶來的節省。鑑於我們收入線性度的歷史趨勢，我們預計下半年的非 GAAP 營業利潤線性度看起來與 2022 年相似。我們預計非 GAAP 每股利潤將在 0.65 美元至 0.75 美元之間。

Again, this incorporates the interest expense from our recent financing and assumes 77.1 million weighted-average shares outstanding and effective tax rate of 20%. In summary, while the macroeconomic environment has created some incremental headwinds early in the year, we believe the financial results demonstrate the resilience and durability of our business. There's no doubt that our customers are facing an elevated level of uncertainty.

同樣，這包括我們最近融資的利息支出，並假設 7710 萬股加權平均流通股和 20% 的有效稅率。總而言之，雖然宏觀經濟環境在年初造成了一些不利因素，但我們相信財務業績證明了我們業務的彈性和持久性。毫無疑問，我們的客戶正面臨著更高水平的不確定性。

And while this can create friction in the sales motion, our robust retention rates, continued growth with our largest customers and increasing ARR per customer all speak to the level of commitment we are seeing with our customers. We are confident in the strategic initiatives we have been executing on for the past couple of years, continue to believe we will achieve $1 billion plus in ARR for 2023 and are committed to delivering on our increased non-GAAP operating profitability targets for the year.

雖然這可能會在銷售活動中造成摩擦，但我們強勁的保留率、與我們最大客戶的持續增長以及每個客戶增加的 ARR 都說明了我們對客戶的承諾水平。我們對過去幾年一直在執行的戰略舉措充滿信心，繼續相信我們將在 2023 年實現超過 10 億美元的 ARR，並致力於實現我們今年增加的非 GAAP 運營盈利目標。

Before handing the call over to the operator, I'd like to note that we have an Investor Day coming up on May 23 as part of our 2023 Inspire User Conference in Las Vegas. We will further discuss Alteryx' market opportunity, go-to-market strategies and platform innovation with a live customer panel for those joining in person. I encourage those interested in learning more on the Alteryx story to come to Inspire to hear it firsthand from our customers and partners. With that, thank you all for joining us today, and I'll turn the call back to the operator.

在將電話轉接給接線員之前，我想指出，作為我們在拉斯維加斯舉行的 2023 年 Inspire 用戶大會的一部分，我們將於 5 月 23 日舉行投資者日活動。我們將通過現場客戶小組進一步討論 Alteryx 的市場機會、上市戰略和平台創新，供親自加入的客戶參加。我鼓勵那些有興趣了解更多關於 Alteryx 故事的人來 Inspire 聽聽我們的客戶和合作夥伴的第一手資料。有了這個，感謝大家今天加入我們，我會把電話轉回接線員。

(Operator Instructions) Our first question comes from the line of Tyler Radke with Citi.

（操作員說明）我們的第一個問題來自花旗銀行的 Tyler Radke。

Kevin, just a couple for you on the guidance. So obviously, you called out some changing macro conditions in the end of the quarter, you didn't really take down many of the ranges for the full year. So I guess I'm wondering what gives you the confidence that can still achieve those ranges? And what are you assuming here for the second quarter? Is it a different set of macro assumptions relative to what you assumed in Q1?

凱文，只是一對夫婦的指導。所以很明顯，你在本季度末提出了一些不斷變化的宏觀條件，你並沒有真正降低全年的許多範圍。所以我想我想知道是什麼讓您有信心仍然可以達到這些範圍？你在這裡假設第二季度是什麼？相對於您在第一季度的假設，這是一組不同的宏觀假設嗎？

(technical difficulty) go into Q2, we have a high degree of confidence on how we've set up from an ARR perspective. We did see some shortening of contract duration in Q1. And while we do expect to see it improve in Q2, we are still taking a cautious approach, which you're seeing reflected in the revenue guide for Q2. As we get into the full year, I guess I would also just remind on the various different levers that we have as we think about delivering this year. So as I mentioned on the call, we have the largest renewal opportunity in the company's history.

（技術難度）進入第二季度，我們對我們如何從 ARR 的角度進行設置充滿信心。我們確實看到第一季度的合同期限有所縮短。雖然我們確實希望在第二季度看到它有所改善，但我們仍然採取謹慎的態度，你在第二季度的收入指南中看到了這一點。隨著我們進入全年，我想我也會提醒我們在考慮今年交付時擁有的各種不同槓桿。因此，正如我在電話中提到的那樣，我們擁有公司歷史上最大的續約機會。

A lot of that sits in H2 with a large percentage of it in Q4, as I commented on the call. We do expect to see a slight shift in overall seasonality relative to Q4 in the business as a result of the large renewal base. We have a large population and growing population of ELAs that are into burst that are driving opportunity and activity that will renew at the back half of the year.

正如我在電話會議上評論的那樣，很多都在下半年，其中很大一部分在第四季度。由於更新基數很大，我們確實預計業務的整體季節性相對於第四季度會略有變化。我們有大量的 ELA 人口和不斷增長的人口，這些 ELA 正在爆發，這正在推動將在今年下半年更新的機會和活動。

And we're continuing to see success with the enterprise sales motion. We had 131% net expansion in the Global 2000 in the quarter, which is a 2-point improvement. And so while we saw some challenges in March, and we've reflected that in the guidance going forward, I think there's still a lot of optimism on the year, as you can see in holding the guide.

我們繼續看到企業銷售活動取得成功。我們在本季度的全球 2000 強中實現了 131% 的淨擴張，提高了 2 個百分點。因此，雖然我們在 3 月份看到了一些挑戰，並且我們已經在未來的指導中反映了這一點，但我認為今年仍然有很多樂觀情緒，正如您在持有指南時所看到的那樣。

Great. And a follow-up, if I may, just on the broader generative AI topic. I think investors are wondering just the long-term implications on the competitive market, particularly as you have Microsoft very involved in building out Copilot functionality into its Office Suite. I guess 2 questions, how are you thinking about the evolution of the competitive landscape longer term?

偉大的。如果可以的話，還有一個關於更廣泛的生成人工智能主題的後續行動。我認為投資者想知道這對競爭激烈的市場的長期影響，特別是當微軟積極參與將 Copilot 功能構建到其 Office 套件中時。我猜有兩個問題，您如何看待競爭格局的長期演變？

And just given that organizations are really making investments into things like ChatGPT, to what extent have you seen this benefit your business? And what are the investments you're making to make sure you can be a beneficiary?

考慮到組織確實在投資 ChatGPT 之類的東西，您認為這對您的業務有多大好處？您為確保自己可以成為受益人而進行的投資是什麼？

Great question. This is Suresh Vittal, I'm going to answer that. So we continue to see large language models in generative AI has a significant opportunity to really democratize analytics. It's kind of share some of the same characteristics that we expose in making analytics available for every knowledge worker in the company. And with that said, while almost everybody is making investments in large language models, the challenges that our customers face day in and day out continue to exist.

很好的問題。我是 Suresh Vittal，我來回答這個問題。因此，我們繼續看到生成式 AI 中的大型語言模型有很大的機會真正使分析民主化。它與我們在為公司的每個知識工作者提供分析時所展示的一些相同特徵有點相似。話雖如此，雖然幾乎每個人都在對大型語言模型進行投資，但我們的客戶日復一日面臨的挑戰仍然存在。

Customers have to ingest data from hundreds of different data sources. As we see with Alteryx users, nearly 70% of them use 4 or more data sources beyond Excel to manage analytics. We look at the different kinds of data types that they have to work with. And so we continue to make aggressive investments as well into large language models. Something you may not know, we have large language models in our products today already.

客戶必須從數百個不同的數據源中提取數據。正如我們在 Alteryx 用戶中看到的那樣，近 70% 的用戶使用 Excel 以外的 4 個或更多數據源來管理分析。我們研究了他們必須使用的不同類型的數據類型。因此，我們繼續對大型語言模型進行積極投資。你可能不知道，我們今天的產品中已經有了大型語言模型。

Mark talked to them in the prepared notes a little bit. And if you're going to be at Inspire, you'll see us announce generative AI capabilities inside of our products, things like bringing automated analytics faster to an Auto Insights user is a typical use case that we see more and more every day, bringing topic summarizations or topic modeling are capabilities that our customers ask for and that you'll start to see in the product.

馬克在準備好的筆記中和他們談了一點。如果你要去 Inspire，你會看到我們宣布我們產品中的生成人工智能功能，比如為 Auto Insights 用戶更快地提供自動化分析是我們每天看到的越來越多的典型用例，帶來主題摘要或主題建模是我們的客戶要求的功能，您將開始在產品中看到這些功能。

And also, we think there's this whole area of governance that can be really leveraged through large language models that you'll see in our products here over the next couple of quarters.

而且，我們認為可以通過大型語言模型真正利用整個治理領域，您將在接下來的幾個季度中在我們的產品中看到這些模型。

Our next question comes from the line of Brent Bracelin with Piper Sandler.

我們的下一個問題來自 Brent Bracelin 和 Piper Sandler 的對話。

Just a quick first question here is really around demand linearity here that you saw in the quarter end and really into April. You obviously missed the ARR midpoint of the guide by $1 million here in Q1, but still looking for a healthy rebound in April. I get it sounds like renewals give you confidence for the full year guide, but specifically to Q2, what do you see in Q1 from a linearity standpoint? And any of those deals have slipped out of Q1, have they closed so far in April, giving you any confidence for that Q2 kind of meaningful net new ARR guide up?

這裡只是一個快速的第一個問題，實際上是圍繞您在季度末和 4 月份看到的需求線性。你顯然在第一季度錯過了指南的 ARR 中點 100 萬美元，但仍在尋找 4 月份的健康反彈。我知道續訂聽起來像是讓您對全年指南充滿信心，但具體到 Q2，從線性的角度來看，您在 Q1 中看到了什麼？這些交易中有任何一項已經從第一季度滑出，它們是否在 4 月份結束，讓你對第二季度有意義的淨新 ARR 指南有信心？

Brent, Mark here. Thanks for the question. I think for Q2, we took an appropriately cautious approach to guidance. We did see sales cycles elongate towards the end of the quarter. And really when the regional banking crisis hit a few weeks before the end of the quarter, we really saw customers sit on their hands in shock about how this was going to play out. So that did impact our linearity in Q1. So far, Q2 looks fine. I think we're going to be appropriately measure around what we forecasted, and Paula can give some color.

布倫特，這裡是馬克。謝謝你的問題。我認為對於第二季度，我們採取了適當謹慎的指導方法。我們確實看到銷售週期在本季度末延長。實際上，當區域銀行業危機在本季度末前幾週襲來時，我們確實看到客戶對這將如何發展感到震驚。所以這確實影響了我們在第一季度的線性度。到目前為止，Q2 看起來還不錯。我認為我們將圍繞我們的預測進行適當的衡量，Paula 可以提供一些顏色。

Yes, Brent. So the behavior that we saw in the majority of Q1 was actually similar to what we saw in Q3 and even Q4, which we talked about on the call just in terms of more deal scrutiny, more reviews and approvals. And then as Mark mentioned, kind of an extra layer of scrutiny in the tail end of March after the financial situation. So as we're in Q2 now, April is -- the first month of any quarter is usually 1 of the smaller months of the 3 months of the quarter.

是的，布倫特。因此，我們在第一季度的大部分時間看到的行為實際上與我們在第三季度甚至第四季度看到的類似，我們在電話會議上談到更多的交易審查、更多的審查和批准。然後正如馬克提到的那樣，在 3 月底的財務狀況之後進行了額外的審查。因此，正如我們現在在第二季度一樣，四月是 - 任何季度的第一個月通常是該季度 3 個月中較小月份中的一個。

But having constructive conversations with customers. We have closed a number of deals that slipped from Q1, and we remain confident in our ability to deliver value on the projects that we're discussing with our customers.

但是與客戶進行建設性對話。我們已經完成了一些從第一季度開始下滑的交易，我們仍然相信我們有能力為我們正在與客戶討論的項目創造價值。

I'll just give you a little more color, Brent. I've been traveling a lot already in the month of April. And gosh, every single customer I talk to is asking for our help. And their sense of urgency around doing something to become more digitized or to transform their business and make better decisions and insights with data is higher than I've ever seen it. So that's factored into our views as well.

我只是給你多一點顏色，布倫特。我已經在四月份旅行了很多次。天哪，我與之交談的每一位客戶都在尋求我們的幫助。他們對做一些事情以變得更加數字化或轉變他們的業務以及利用數據做出更好的決策和洞察力的緊迫感比我見過的還要高。所以這也被納入我們的觀點。

Helpful color, consistent with our conversations, April definitely sounds a little healthier than March. Just a quick follow-up on the cost side. You're essentially pulling forward margins that we thought you would do in 2024 into 2023 with the 11% kind of ref you announced, why now? Why the decision to say, hey, now is the time to do the balance forward and drive to a higher margin?

有益的顏色，與我們的談話一致，四月聽起來肯定比三月更健康。只是在成本方面進行快速跟進。你實際上是在用你宣布的 11% 的參考率將我們認為你會在 2024 年做到的利潤率提前到 2023 年，為什麼是現在？為什麼決定說，嘿，現在是時候實現平衡並提高利潤率了？

Is there a desire to get to that Rule of 40 goal sooner than later? Just a little explanation on why you're pulling forward the margin expansion targets into this year that we thought you would get to next year?

是否希望早日達到 40 規則的目標？只是解釋一下為什麼您將我們認為您會在明年實現的利潤率擴張目標提前到今年？

Yes. Thanks, Brent. I'll go ahead and take that. Look, as we continue to review and scrutinize our business, it is clear that driving greater levels of profitability is critically important in this year, and we had an opportunity to rationalize our expenses as we described in the prepared remarks, which is going to create an opportunity this year to significantly increase the operating profitability projections for the year. And we felt that was an appropriate thing to do given what we're seeing in the business.

是的。謝謝，布倫特。我會繼續接受那個。看，隨著我們繼續審查和審查我們的業務，很明顯，在今年推動更高水平的盈利能力至關重要，我們有機會按照我們在準備好的評論中描述的那樣合理化我們的開支，這將創造今年有機會顯著提高全年的運營盈利預測。鑑於我們在業務中看到的情況，我們認為這是一件合適的事情。

Our next question comes from the line of Derrick Wood with TD Cowen.

我們的下一個問題來自 Derrick Wood 與 TD Cowen 的對話。

First for Kevin, and I guess, it's kind of a 2 parter based off the last 2 questions. So with regard to the full year reiterated guide, what -- how do you give us comfort that the 11% headcount cut doesn't kind of have any disruption with go-to-market or sales capacity? And then with the Q2 ARR guide, that was in line with kind of what we were thinking, but the revenue significantly below. Is that just contract duration dynamics or kind of why has that delta changed a bit on Q2?

首先是凱文，我想，這是基於最後兩個問題的 2 部分。因此，關於全年重申的指南，你如何讓我們感到安慰，即 11% 的裁員不會對上市或銷售能力造成任何干擾？然後是第二季度 ARR 指南，這與我們的想法一致，但收入明顯低於預期。這只是合同持續時間動態，還是為什麼 delta 在第二季度發生了一些變化？

Yes. Thanks, Derrick. Let me hit your second question first, and then I'll have Paula give her perspective on your question with respect to the cuts and the impact of sales and marketing. So as we thought about revenue and as I mentioned, we did see contract duration in the first quarter come down a bit.

是的。謝謝，德里克。讓我先回答你的第二個問題，然後我會讓 Paula 就你關於削減以及銷售和營銷的影響的問題發表她的看法。因此，當我們考慮收入時，正如我所提到的，我們確實看到第一季度的合同期限有所下降。

And so we are projecting for Q2 that we have a softer contract duration, which is affecting the revenue guide, as we've talked since we implemented ASC 606 contract duration is highly sensitive to revenues. So that's what you're seeing in effect on the guide. To your point, we held ARR, which should fundamentally demonstrate that we are holding our booking assumption for the quarter.

因此，我們預計第二季度我們的合同期限會更短，這會影響收入指南，正如我們在實施 ASC 606 合同期限對收入高度敏感以來所說的那樣。這就是您在指南中看到的效果。就您的觀點而言，我們持有 ARR，這應該從根本上表明我們持有本季度的預訂假設。

Derrick, it's Paula. So in response to your question about the workforce reductions that we announced today, Obviously, there are 2 areas of growing the top line, whether it's sales capacity or sales productivity, and we are very focused on driving up sales productivity, have been for a number of quarters and will continue to be throughout '23. So as we made these decisions, we were intentional to be mindful of ensuring that we continue to deliver on increased productivity.

德里克，是寶拉。因此，在回答您關於我們今天宣布的裁員的問題時，很明顯，有兩個領域可以提高收入，無論是銷售能力還是銷售生產力，我們非常專注於提高銷售生產力，一直以來季度數，並將繼續貫穿整個 23 年。因此，當我們做出這些決定時，我們有意注意確保我們繼續提高生產力。

Yes. And with such a large set of cohorts for renewals that come up in the second half, Derrick. And we just feel our solutions are so durable and renewable for customers. And you saw that our net expansion rate ticked up 2% this quarter. That's happening for a reason because it's a really sticky solution.

是的。下半場出現瞭如此多的續約群體，德里克。我們只是覺得我們的解決方案對客戶來說是如此耐用和可再生。你看到本季度我們的淨擴張率上升了 2%。這是有原因的，因為它是一個非常棘手的解決方案。

That was going to be my last question. Just like you guys have seen really good growth in average deal sizes. I mean, given the macro, what's the level of confidence in kind of keeping that momentum going in deal sizes and kind of keeping the burst conversion motions going? I know you may have a little bit longer sales cycle, but how confident do you feel in those ASP growth trends continuing?

那將是我的最後一個問題。就像你們看到平均交易規模的增長非常好一樣。我的意思是，考慮到宏觀因素，保持交易規模的勢頭和保持突發轉換動作的信心水平是多少？我知道您的銷售週期可能會稍長一些，但是您對這些 ASP 增長趨勢持續下去有多大信心？

Yes, we feel confident enough to provide the backdrop of the guidance that we've given and certainly confident in the team's ability to go prosecute those opportunities.

是的，我們有足夠的信心提供我們所提供指導的背景，當然也對團隊抓住這些機會的能力充滿信心。

Yes. I'll just add that we're -- in the ELA motion, which is certainly a contributor to the increased average deal sizes something we're still getting started on. We saw great success with that in 2022. We talked about how we did more ELAs in Q4 of '22 than we did in the entirety of the first 3 quarters. And already in Q1 of '23, we see 25% those customers that did an ELA with us in Q4, leveraging the burst capacity, which gives us permission to go back and continue to expand with them and rent and repeat that motion with many other customers in the Global 2000 segment.

是的。我只想補充一點，我們是——在 ELA 動議中，這肯定是增加平均交易規模的一個因素，我們仍在著手進行。我們在 2022 年看到了巨大的成功。我們談到了我們如何在 22 年第四季度完成的 ELA 數量超過了前三個季度的總和。並且在 23 年的第一季度，我們看到 25% 的客戶在第四季度與我們進行了 ELA，利用突發容量，這使我們能夠返回並繼續與他們一起擴展並租用並與許多其他人重複該動作全球 2000 強細分市場的客戶。

Our next question comes from the line of Sanjit Singh with Morgan Stanley.

我們的下一個問題來自 Sanjit Singh 與摩根士丹利的對話。

I want to understand the ELA expansion motion just a little bit better. For customers that were bursting last year and got that -- benefited from that 50% burst capacity. As they're coming into 2023 and if you sort of comment on the data points around from Q1, is the dynamic you're seeing is that they are not taking on, they're not paying for those incremental bursting users? Or is it lower than you expected? Any sort of commentary on how the ELA renewals and conversion of that burst capacity is manifested at least so far in Q1?

我想更好地理解 ELA 擴展運動。對於去年爆發並獲得的客戶——從 50% 的爆發能力中受益。隨著他們進入 2023 年，如果你對第一季度的數據點發表評論，你看到的動態是他們沒有接受，他們沒有為那些增量爆發的用戶付費嗎？還是低於您的預期？至少到目前為止，關於 ELA 更新和突發容量轉換如何在第一季度表現出來的任何評論？

Yes, great question, Sanjit. I would say that we're really pleased with the success of burst capacity and the ability that, that gives us to go back and move a customer up to another sized ELA or multiple tier sizes above the one that they've purchased. So all of this has been with the mindset that if we reduce friction for our customers and put our software in the hands of more knowledge workers and analysts across the enterprise that the quick time to value that our software demonstrates will set us up nicely to come to the table with the customer and ask for them to now turn that burst capacity into paid licenses. And frankly, it's I think, exceeded our expectations in terms of how that has played out in 2022 and here in early '23.

是的，很好的問題，Sanjit。我想說的是，我們對突發容量的成功以及這種能力感到非常滿意，這使我們能夠返回並將客戶轉移到另一種規模的 ELA 或比他們購買的規模更大的多層規模。因此，所有這一切都是基於這樣一種心態，即如果我們減少客戶的摩擦並將我們的軟件交到整個企業中更多知識工作者和分析師的手中，那麼我們的軟件所展示的快速價值實現將使我們很好地實現與客戶坐在一起，要求他們現在將突發容量轉變為付費許可證。坦率地說，我認為它在 2022 年和 23 年初的表現超出了我們的預期。

Got it. And then a question for Suresh, just to follow on Tyler's question on large language models. If I think of kind of the 3 main capabilities or sort of areas where Alteryx plays sort of in data wrangling, data preparation, democratizing machine learning and data science insights. And then in some sense, helping out with sort of the BI process, when you look at just sort of the capabilities of large language models across those 3 buckets of opportunities, where do you see large language models being most effective? And where do you see it being like less relevant?

知道了。然後是 Suresh 的問題，只是為了跟進 Tyler 關於大型語言模型的問題。如果我想到 Alteryx 在數據爭論、數據準備、民主化機器學習和數據科學洞察方面發揮的 3 種主要功能或領域。然後在某種意義上，幫助某種 BI 流程，當你只看大型語言模型在這 3 個機會桶中的某種能力時，你認為大型語言模型在哪裡最有效？你在哪裡看到它不太相關？

Okay. I see them -- I mean it's early days, and I see them being most effective in the visualization and the last mile of insights space. I think the data wrangling, the prepping, the pipelines, the labeling, all of that work, you still need humans and you need to kind of interface with many, many different systems. And the complexity isn't avoided still. And that's kind of why a lot of our customers migrate or come to Alteryx is because we really give them the ability to handle a lot of these complex tasks.

好的。我看到了它們——我的意思是現在還處於早期階段，我看到它們在可視化和最後一英里的洞察空間中最有效。我認為數據爭論、準備、管道、標籤，所有這些工作，你仍然需要人類，你需要與許多不同的系統進行接口。而且仍然無法避免複雜性。這就是為什麼我們的許多客戶遷移或來到 Alteryx 的原因是因為我們確實賦予他們處理許多這些複雜任務的能力。

Our next question comes from the line of Mike Cikos with Needham & Company.

我們的下一個問題來自 Needham & Company 的 Mike Cikos。

A couple of follow-ups from the earlier Q&A conversations we've been having. But first, I wanted to come back to Kevin. I know you had cited the shorter contract duration that impacted Q1 with the expectation for a slight improvement in 2Q, but still the overhang on revenue based on the ASC 606. It is just being beneficial, but can you help us think through what the revenue impact in 1Q were the expected revenue impact to 2Q is from that shorter contract duration versus what you guys have previously penciled in?

我們之前進行的問答對話中的一些跟進。但首先，我想回到凱文身上。我知道你提到了影響第一季度的較短合同期限，預計第二季度會略有改善，但基於 ASC 606 的收入仍然懸而未決。這只是有益的，但你能幫我們想想收入是多少嗎第一季度的影響是對第二季度的預期收入影響是來自較短的合同期限與你們之前所預測的相比嗎？

Yes. Thanks, Mike. I appreciate the question. We didn't quantify it. But as I've said in the past, I mean, small movements in duration have pretty significant impacts on revenue and how much gets recognized. So it had an impact in Q1, and we've factored in on a relative basis into Q2. I would again just maybe point to and signal ARR for Q2 and the full year is a view on how we think about bookings, which is really kind of the normalized growth rate of the business.

是的。謝謝，邁克。我很欣賞這個問題。我們沒有量化它。但正如我過去所說，我的意思是，持續時間的小幅變動對收入和多少被確認有相當大的影響。所以它對第一季度產生了影響，我們已經在相對基礎上考慮到了第二季度。我可能會再次指出第二季度的 ARR 和全年是我們如何看待預訂的觀點，這實際上是業務的正常增長率。

I might add a little bit of color on contract duration just in terms of what we saw in Q1 and how we think about it as we go forward. So our enterprise sales motion with our largest customers is what we've been focused on for the last couple of years, as you know, many of these customers have multiple contracts in place with Alteryx because of the land and expand motion that we were running for a long period of time.

我可能會根據我們在第一季度看到的情況以及我們在前進過程中的想法來為合同期限添加一些色彩。因此，我們與最大客戶的企業銷售動議是我們過去幾年一直關注的重點，如您所知，由於我們正在運行的土地和擴展動議，其中許多客戶與 Alteryx 簽訂了多項合同很長一段時間。

And as we come to renew those, there is a big interest on our customers' part to consolidate a lot of those contracts into a common contract like an ELA, get them the benefit of the predictable pricing, the access to the full portfolio and the burst capacity. And so that is definitely something that we saw in Q1. And for me, that's really a positive validation on their interest in continuing to grow with Alteryx, further evidenced by the 131% net expansion. So that certainly is a little bit of context for you in terms of duration.

當我們開始續訂這些合同時，我們的客戶非常有興趣將這些合同合併為一個像 ELA 這樣的普通合同，讓他們受益於可預測的定價、訪問完整的產品組合以及爆發能力。所以這絕對是我們在第一季度看到的。對我來說，這確實是對他們有興趣繼續與 Alteryx 一起成長的積極驗證，131% 的淨擴張進一步證明了這一點。因此，就持續時間而言，這對您來說肯定是一點背景。

And I guess my follow-up, 2 parter here, the first would be a follow-up on Derrick's question around the headcount reduction versus the productivity gains that the company is talking to, can you help us think through what that productivity trend has been like in recent quarters? And really, the question becomes like if you have this 11% workforce reduction you're talking to, is the assumption that productivity can actually accelerate over the remainder of calendar '23?

我想我的後續行動，這裡的 2 個合作夥伴，第一個是 Derrick 關於裁員與公司正在討論的生產力提高的問題的後續行動，你能幫助我們思考生產力趨勢是什麼嗎像最近幾個季度？真的，問題就變成瞭如果你正在談論的 11% 的勞動力減少，是假設生產力實際上可以在 23 年日曆的剩餘時間內加速嗎？

And the follow-up -- or the second part is, can you just help us think through the customer count actually declining quarter-to-quarter? I think this is the first time we've seen that in recent memory.

後續——或者說第二部分，你能幫我們想想客戶數量實際上是逐季下降的嗎？我認為這是我們最近的記憶中第一次看到這種情況。

Sure, Mike. No problem. So first on sales productivity, we're hyper focused on it and have been for many quarters now. In '22, we saw productivity quarter-on-quarter improvements in that. And that is the plan for 2023 as well. So again, with the 11% reduction, which keep in mind is across all of go-to-market, not just quota carriers, there is a small percentage of quota carriers in there, but there's also supporting functions and presales and marketing and operations and so forth.

當然，邁克。沒問題。因此，首先是銷售生產力，我們非常關注它，並且已經持續了很多個季度。在 22 年，我們看到生產率環比有所提高。這也是 2023 年的計劃。因此，再次減少 11%，請記住，這是在所有進入市場的過程中發生的，而不僅僅是配額承運人，那裡有一小部分配額承運人，但也有支持功能、售前、營銷和運營等等。

So it's not all direct-to-quota carriers. But we are very confident that we'll see sales productivity improvements continue through the balance of '23. In relation to customer count, we have been very focused on the Global 2000 on large enterprise clients and really improving deal size. And as we mentioned, ARR is growing fastest in our largest customer segment. And so if I look at the ARR of a churn customer, the average churn customer is around $15,000 versus the average ARR per customer is $100,000. So we are much more focused on the upper end of the market and segmentation where there's the most opportunity for ARR growth.

因此，並非所有直接配額承運人。但我們非常有信心，我們將看到銷售生產力的提高將持續到 23 年的剩餘時間。關於客戶數量，我們一直非常關注大型企業客戶的全球 2000 強，並真正提高交易規模。正如我們提到的，ARR 在我們最大的客戶群中增長最快。因此，如果我查看流失客戶的 ARR，平均流失客戶約為 15,000 美元，而每位客戶的平均 ARR 為 100,000 美元。因此，我們更加關注 ARR 增長機會最大的高端市場和細分市場。

(Operator Instructions). Our next question comes from the line of Michael Turits with KeyBanc Capital Markets Inc.

（操作員說明）。我們的下一個問題來自 KeyBanc Capital Markets Inc. 的 Michael Turits。

And tough environment. Congrats on still solid numbers in the quarter. In terms of behavior at the end of the quarter, this maybe is a question for Paula. Where -- can you narrow down at all any subsegments of where you saw the weakness that you attributed to banking issues? How you saw that causality? Was it, was it small? Was it big? Was it certain regions, certain vertical? It seems like the general reaction to the bank (inaudible) was mix. Some people saw it, some people didn't, so I just want to know where specifically (inaudible).

和艱苦的環境。祝賀本季度的數據仍然穩定。就本季度末的行為而言，這可能是 Paula 的問題。在哪裡 - 你能縮小你看到你歸因於銀行問題的弱點的所有子部分嗎？你是如何看待這種因果關係的？它，它很小嗎？大嗎？是某些區域，某些垂直方向嗎？似乎對銀行的普遍反應（聽不清）是混合的。有些人看到了，有些人沒有，所以我只想知道具體在哪裡（聽不清）。

Yes. Michael, if you don't mind, I'll take that one. Yes, thanks for the question. I think we saw typical verticals that have been impacted a bit more by either supply chain or the turn in the economy. We just saw a little more aggressive tactics on the part of negotiators, a new level of scrutiny was being applied and a few tactics that, frankly, I'd not seen before, customers not wanting to waste a good crisis to try to extract a better deal.

是的。邁克爾，如果你不介意的話，我就拿那個。是的，謝謝你的提問。我認為我們看到典型的垂直行業受到供應鍊或經濟轉變的影響更大一些。我們只是看到談判人員採取了更激進的策略，正在應用新級別的審查和一些策略，坦率地說，我以前從未見過，客戶不想浪費一個好的危機來試圖提取一個更好的交易。

But I'll tell you, the discipline that we've instilled in the go-to-market around pricing and definition of value and proving out value really makes a big difference for us. And so while we saw things slow down a little bit, especially after the Silicon Valley Bank shutdown, we still feel pretty good about the quarter.

但我會告訴你，我們在圍繞定價和價值定義以及證明價值的上市過程中灌輸的紀律對我們來說確實有很大的不同。因此，儘管我們看到事情有所放緩，尤其是在矽谷銀行關閉之後，但我們對本季度的感覺仍然不錯。

Yes. So I agree with Mark's comments, nothing specific to a vertical or a geography. I think it just was a moment that a lot of people took stock of the situation, maybe wanted to wait and see how things played out for a few days or weeks. And to Mark's point, in some cases, tried to use it as leverage. And I'm happy that we are committed to long-term profitability and make the right decisions on a quarterly basis for the business.

是的。所以我同意 Mark 的意見，沒有特定於垂直或地理的意見。我認為這只是很多人評估情況的一個時刻，可能想等待幾天或幾週，看看事情會如何發展。就馬克而言，在某些情況下，他試圖將其用作槓桿。我很高興我們致力於長期盈利並每季度為業務做出正確的決策。

And then a follow-up question. Regarding the back half, obviously, you know what your renewal base is. Have you changed your assumptions around the conservatism of renewal percentages or conversions, given the fact that things got tougher?

然後是後續問題。關於後半部分，顯然，你知道你的更新基礎是什麼。鑑於事情變得更加艱難，您是否改變了對續訂百分比或轉化率的保守主義假設？

Yes. Thanks, Michael. I'll go ahead and take that. So first of all, I guess, again, some points of strength in the quarter, in addition to seeing net expansion overall remain at 121 and the G2K improved, we continued to see incredibly strong renewal rates in the business. And so we have, over the last I think 3 quarters, continued to see near record high renewal rates in terms of that, including this last quarter.

是的。謝謝，邁克爾。我會繼續接受那個。因此，首先，我想，本季度的一些優勢，除了淨擴張總體保持在 121 和 G2K 有所改善之外，我們繼續看到業務中令人難以置信的強勁續約率。因此，在我認為過去的 3 個季度中，我們在這方面繼續看到接近創紀錄的高續訂率，包括上個季度。

So as we look out for the full year, I mean, certainly, part of our calculus is renewal rates and renewal trends. As Paula mentioned, the customers that we tend to see churn out had less than $15,000 ARR in the business compared to -- we grew the ARR per customer by 23% again for the third consecutive quarter in terms of growth. So as we think about the renewal base that exists in the back half of the year, we're actually seeing very strong continued renewal rates.

因此，當我們展望全年時，我的意思是，當然，我們計算的一部分是續訂率和續訂趨勢。正如 Paula 所提到的，我們傾向於看到流失的客戶在業務中的 ARR 低於 15,000 美元 - 我們連續第三個季度將每個客戶的 ARR 再次增長 23%。因此，當我們考慮下半年存在的續訂基礎時，我們實際上看到非常強勁的持續續訂率。

We're seeing very strong engagement with customers. And so one of the points I did want to just reiterate for -- from a seasonality perspective, in my prepared remarks, I mentioned that Q4 '23 has a significantly higher renewal rate -- excuse me, renewal base than Q4 of '22, not to mention all of the ELAs and -- that come due that we sold last year. So I do expect that Q4 seasonally is going to be slightly stronger on a relative basis than we've seen in the past.

我們看到與客戶的互動非常緊密。因此，我確實想重申的一點是——從季節性的角度來看，在我準備好的發言中，我提到 23 年第 4 季度的續訂率要高得多——對不起，續訂基數比 22 年第 4 季度高，更不用說我們去年售出的所有 ELA 了。因此，我確實預計第 4 季度的季節性相對基礎上會比我們過去看到的略強。

Our next question comes from the line of Ittai Kidron with Oppenheimer.

我們的下一個問題來自 Ittai Kidron 與 Oppenheimer 的對話。

I wanted to dig into the productivity. Mark, you have been trying to reorient the sales force for pretty much 2 years, I guess, at this point. And it seems like you're still not there from a productivity standpoint. So maybe you can help us understand how far are we from getting to where you need to get. I understand that nobody ever gets to where they want to get, but where to a point that you happy with productivity? And why has it taken this long and still takes -- it still requires more time to get to where you need to get.

我想深入研究生產力。馬克，我猜，在這一點上，你已經嘗試重新調整銷售隊伍近 2 年了。從生產力的角度來看，您似乎還沒有達到目標。所以也許你可以幫助我們了解我們離你需要達到的目標還有多遠。我知道沒有人能到達他們想到達的地方，但是你對生產力感到滿意的地方是什麼？為什麼它花了這麼長時間而且仍然需要 - 它仍然需要更多時間才能到達您需要到達的地方。

Yes. Thanks for the question, Ittai. Listen, I don't think I'm never happy with productivity. I think as you said very rightly, I expect that it should go up for a very long time. Because we play in a market that's sizable and very fragmented and customers are looking for more from platform vendors like Alteryx, and we want to build or buy and integrate more products and capabilities so that our salespeople can have more to sell.

是的。謝謝你的問題，Ittai。聽著，我認為我對工作效率從來都不滿意。我認為正如你所說的非常正確，我預計它應該會上漲很長一段時間。因為我們在一個規模龐大且非常分散的市場中開展業務，客戶正在從 Alteryx 等平台供應商那裡尋找更多，我們希望構建或購買並集成更多產品和功能，以便我們的銷售人員可以銷售更多產品。

And by simple math, the productivity should go up. We certainly see in times like this, it's really important to do a really good job of sales planning, planning your -- around the renewals. It's our single biggest opportunity in the customer lifetime to earn more business by doing a really good job of helping them consume what we sold. And so I continue to expect that productivity will go up into the right. And gosh, I think my past lives, I've seen it go up for 7, 8 years at a time. And I've got that expectation here as well.

通過簡單的數學計算，生產力應該會提高。我們當然會在這樣的時候看到，做好銷售計劃非常重要，計劃你的 - 圍繞續約。這是我們在客戶生命週期中最大的機會，通過做好幫助他們消費我們銷售的產品來贏得更多業務。因此，我繼續期望生產力會向右上升。天哪，我想我的前世，我看到它一次上升了 7、8 年。我在這裡也有這種期望。

Okay. maybe, I guess, as a follow-up. Clearly, as Paula explained, you rather chase the big fish than the small fish right now. And so that's where you're seeing the churn on the low end of the market. But I guess, maybe you can help us understand in your penetration with the larger accounts, and maybe Kevin can weigh on this as well, how much of the expansion activity is multiproduct driven versus just continued Designer seat expansion?

好的。也許，我想，作為後續行動。顯然，正如 Paula 解釋的那樣，您現在寧願追逐大魚也不願追逐小魚。所以這就是你看到低端市場流失的地方。但我想，也許你可以幫助我們了解你對大客戶的滲透，也許凱文也可以權衡這一點，有多少擴張活動是多產品驅動的，而不是持續的設計師席位擴張？

Because if it's just Designer seat, you would worry me that you're, at some point, going to come to the end of your expansion opportunity. And with a shrinking customer base, I mean all of this might still deliver good results near term, but this is going to be a long-term disaster. So I'm trying to understand the profile of your expansion within large customers. How -- what can you give us from a statistic standpoint, a KPI that helps us understand the depth of the expansion, not just the linearity of it seat-wise?

因為如果它只是 Designer 座位，你會擔心你在某個時候會結束你的擴展機會。隨著客戶群的縮小，我的意思是所有這些在短期內可能仍會帶來良好的結果，但這將是一場長期的災難。所以我試圖了解你在大客戶中的擴張概況。如何 - 從統計的角度來看，你能給我們什麼，一個幫助我們了解擴展深度的 KPI，而不僅僅是它在座位方面的線性度？

Yes. I think that we've talked about the penetration rate that we have in the market is still very low, right? And so that is true within all of our customers, even our largest customers. So there is no shortage of growth opportunity, whether it be increased Designer licenses or cross portfolio into our cloud assets. Today, we're early in our cloud journey. So the cross product expansion is still a small percentage of the total expansion. But frankly, I don't see a concern on continuing to expand both cross portfolio as well as with more users for quite some time.

是的。我認為我們已經談到了我們在市場上的滲透率仍然很低，對嗎？因此，我們所有的客戶都是如此，甚至是我們最大的客戶。因此，不乏增長機會，無論是增加 Designer 許可證還是跨產品組合進入我們的雲資產。今天，我們處於雲之旅的早期階段。所以跨產品擴張仍然只佔總擴張的一小部分。但坦率地說，我並不擔心在相當長一段時間內繼續擴展交叉產品組合以及更多用戶。

Yes. I'll say, just having gone through a few of these crises over the last 30 years, Ittai, I think when spending narrows in the enterprise, I think customers want fewer vendors. They want less complexity. They want platforms. And so we're really seeing customers really focus on the platforms that are delivering value for them. And we certainly spent a lot of time with customers to prove that out.

是的。我會說，在過去 30 年中經歷了幾次這樣的危機，Ittai，我認為當企業支出減少時，我認為客戶需要更少的供應商。他們想要更少的複雜性。他們想要平台。因此，我們確實看到客戶真正關注為他們提供價值的平台。我們當然花了很多時間與客戶一起證明這一點。

And our next question comes from the line of Yun Kim with Loop Capital Markets.

我們的下一個問題來自 Loop Capital Markets 的 Yun Kim。

Okay. Great. I have a quick question on the planned cuts. Would that be particularly focused on U.S. or international? I just wanted to ask that because I think international has more resellers and indirect channel partners.

好的。偉大的。我有一個關於計劃削減的快速問題。那會特別關注美國還是國際？我只是想問這個，因為我認為國際有更多的經銷商和間接渠道合作夥伴。

Yun, it's Mark here. The vast majority of the cuts were here in the U.S. What we did -- we do have some cuts internationally and of course, are respecting regional laws that exist around employment and termination of employment.

雲，我是馬克。絕大多數裁員發生在美國。我們所做的——我們確實在國際上進行了一些裁員，當然，我們尊重有關就業和終止就業的地區法律。

Our next question comes from the line of Koji Ikeda with Bank of America.

我們的下一個問題來自美國銀行的 Koji Ikeda。

Just one for me. I wanted to go back to the guidance and ask you a question maybe on the guardrails that you've embedded in the guidance from a upside to downside scenario kind of going forward here because when you gave the guidance on the fourth quarter call 90 days ago, there was some downside scenarios embedded in there. And as we kind of think through the quarter with the financial system events, the deal pushed out from the headcount reduction.

只給我一個。我想回到指導並問你一個問題，也許是關於你在指導中嵌入的從上行到下行情景的護欄，因為當你在 90 天前的第四季度電話會議上給出指導時，其中嵌入了一些不利情況。當我們考慮整個季度的金融系統事件時，該交易因裁員而被推遲。

It seems like that downside scenario you used up some of that downside cushion, but with the full year revenue and ARR kept the same, it feels like maybe the guidance is a little bit conservative now. So maybe can you help me better understand the dynamics that are in play there?

看起來你用掉了一些下行緩衝的下行情景，但全年收入和 ARR 保持不變，感覺現在的指導可能有點保守。那麼也許你能幫助我更好地理解那裡正在發生的動態嗎？

Yes. Thanks for the question. Look, we certainly didn't anticipate in our Q1 guide a regional banking crisis as we saw. I don't think anybody predicted that nor did we anticipate the behavior that we would see thereafter. That being said, we still met the guidance that we put out, to your point, 90 days ago and are proud as well as drove an increased level of profitability above the guide, which we also felt was important.

是的。謝謝你的問題。看，我們當然沒有像我們所看到的那樣在我們的第一季度指南中預料到區域銀行業危機。我認為沒有人預料到這一點，我們也沒有預料到我們之後會看到的行為。話雖這麼說，我們仍然符合我們在 90 天前發布的指南，我們感到自豪，並推動盈利水平高於指南，我們也認為這很重要。

In terms of the conservatism going forward, I would just again reiterate that we have a lot of visibility into the renewal base, the ELAs and the things that we can control, and we've talked about expansion rates and gross retention and what we're seeing from that perspective. And so as we go forward, we're continuing to be cautious and conservative around how those dynamics convert into the business. But we have a big setup here for the second half of the year that we have a lot of optimism around.

就未來的保守主義而言，我想再次重申，我們對更新基礎、ELA 和我們可以控制的事情有很多了解，我們已經討論了擴張率和總保留率以及我們'從那個角度看。因此，在我們前進的過程中，我們將繼續對這些動態如何轉化為業務持謹慎和保守態度。但是今年下半年我們在這裡有一個很大的設置，我們對此非常樂觀。

And we have reached the end of the question-and-answer session. I'll now turn the call back over to CEO, Mark Anderson for closing remarks.

我們已經結束了問答環節。我現在將把電話轉回給首席執行官馬克安德森，讓他發表結束語。

Thank you very much, operator. And I'd like to say thank you again to our customers, partners, shareholders and our team here at Alteryx. We believe our Q1 financial results demonstrate the resilience and durability of our business model. And we plan to deliver on our increased non-GAAP operating profitability targets with strong execution and discipline. Thank you all for joining us, and I look forward to seeing many of you at the upcoming Inspire User Conference in May.

非常感謝你，接線員。我想再次感謝我們的客戶、合作夥伴、股東和我們在 Alteryx 的團隊。我們相信我們的第一季度財務業績證明了我們商業模式的彈性和持久性。我們計劃通過強有力的執行和紀律來實現我們增加的非 GAAP 運營盈利目標。感謝大家加入我們，我期待在 5 月即將舉行的 Inspire 用戶大會上見到你們中的許多人。

And this concludes today's conference, and you may disconnect your lines at this time. Thank you for your participation.

今天的會議到此結束，此時你們可以掛斷電話。感謝您的參與。