Alteryx Inc (AYX) 2023 Q3 法說會逐字稿

Greetings, and welcome to the Alteryx Third Quarter 2023 Earnings Conference Call. (Operator Instructions). As a reminder, this conference is being recorded.

您好，歡迎參加 Alteryx 2023 年第三季財報電話會議。 （操作員說明）。提醒一下，本次會議正在錄製中。

It is now my pleasure to introduce your host, Ryan Goodman, Head of Investor Relations. Thank you, Ryan. You may begin.

現在我很高興向您介紹主持人，投資者關係主管 Ryan Goodman。謝謝你，瑞安。你可以開始了。

Thank you, operator. Good afternoon, and thank you for joining us today for Alteryx's Third Quarter 2023 Earnings Conference Call.

謝謝你，接線生。下午好，感謝您今天參加 Alteryx 2023 年第三季財報電話會議。

I'm Ryan Goodman, Alteryx' 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.

我是 Ryan Goodman，Alteryx 投資者關係主管。今天與我一起參加電話會議的是執行長馬克安德森 (Mark Anderson)；和財務長凱文魯賓。此外，我們的總裁兼首席營收長 Paula Hansen；我們的首席產品長 Suresh Vittal 將在準備好發言後參加我們的問答環節。

This afternoon, we issued a press release announcing our results for the third quarter ended September 30, 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.

今天下午，我們發布了一份新聞稿，宣布了截至 2023 年 9 月 30 日的第三季業績，以及包含關鍵指標和業績評論的股東信。如果您需要新聞稿和股東信函的副本，您可以在我們的投資者關係網站上線上存取。

During this call, we will make forward-looking statements related to our business, including statements about our financial guidance for the fourth quarter and full year 2023. 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.

在本次電話會議中，我們將做出與我們業務相關的前瞻性聲明，包括有關我們第四季度和 2023 年全年財務指導的聲明。它們面臨各種風險和不確定性，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有重大差異。有關本次電話會議期間做出的其他前瞻性陳述以及可能影響我們實際結果的重大風險和其他重要因素的討論，請參閱 SEC 網站和投資者關係網站上提供的 SEC 文件以及風險以及今天財報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 and shareholder letter.

此外，今天的電話會議還將討論非公認會計準則財務指標。這些指標與其最直接可比較的公認會計原則財務指標的調節可以在今天的收益報告和股東信中找到。

With that, I'd like to turn the call over to Chief Executive Officer, Mark Anderson.

說到這裡，我想將電話轉給執行長馬克安德森。

Thank you, Ryan, and thank you all for joining us today.

謝謝瑞安，也謝謝大家今天加入我們。

Q3 was a solid quarter for Alteryx across the board. Our product team made significant progress with our generative AI-infused offerings that we believe will bring high value to our customers. Our business execution improved from the prior quarter with key financial metrics above the high end of our guided ranges. Annualized recurring revenue or ARR came in at $914 million, up 21% year-over-year. This includes a currency headwind of approximately $6 million due to rate changes since we established the outlook.

第三季對於 Alteryx 來說是一個全面穩定的季度。我們的產品團隊在註入人工智慧的生成產品方面取得了重大進展，我們相信這些產品將為我們的客戶帶來高價值。我們的業務執行情況比上一季有所改善，關鍵財務指標高於我們指引範圍的高端。年化經常性收入 (ARR) 為 9.14 億美元，較去年同期成長 21%。其中包括自我們確定前景以來因匯率變動而產生的約 600 萬美元的貨幣逆風。

Revenue came in at $232 million, up 8% year-over-year and non-GAAP operating income of $36 million exceeded the high end of our guided range by $30 million, driven by both revenue upside and disciplined cost management. These results reflect improved sales execution despite consistent demand trends relative to Q2.

收入為 2.32 億美元，年增 8%，非 GAAP 營業收入為 3,600 萬美元，比我們指導範圍的上限高出 3,000 萬美元，這得益於收入增長和嚴格的成本管理。這些結果反映了儘管需求趨勢與第二季一致，但銷售執行力有所改善。

Our customers continue to demonstrate a deep growing commitment to the Alteryx platform. We believe the quest to digitize government entities and businesses around the world is intensifying as we hear our customers look for ways to improve efficiencies and drive automation and analytics across their user communities. We also believe Alteryx is uniquely positioned as the data analytics orchestration layer of an increasingly fragmented data ecosystem. Customers are leveraging our solutions to automate analytic processes to do more with less, and our easy-to-use solutions enable this with improved governance and security features. These are substantial competitive moats that have enabled us to win for years.

我們的客戶持續展現對 Alteryx 平台日益深入的承諾。我們相信，隨著我們的客戶尋求提高效率並推動整個用戶社群的自動化和分析的方法，世界各地對數位政府實體和企業的追求正在加劇。我們也相信 Alteryx 作為日益分散的資料生態系統的資料分析編排層具有獨特的定位。客戶正在利用我們的解決方案來自動化分析流程，從而事半功倍，而我們易於使用的解決方案透過改進的治理和安全功能來實現這一目標。這些都是巨大的競爭護城河，使我們能夠多年來獲勝。

Again, I am so proud of our R&D team as they work to incorporate generative AI throughout our cloud-connected platform, reinforcing this differentiated market position to customers and prospects alike. A/B, our brand of generative AI and machine learning technologies, is uniquely suited for this time and place. We recently announced several new A/B capabilities. More on that shortly. I'm also encouraged with the progress we're making with our sales strategy. On our Q2 earnings call, we committed to improving our sales execution and enhancing the visibility of our business, particularly in the context of the tougher macro environment. We quickly adapted with some personnel and process changes to do just that.

我再次為我們的研發團隊感到自豪，因為他們致力於將生成式人工智慧融入我們的雲端連接平台中，從而為客戶和潛在客戶鞏固了這種差異化的市場地位。 A/B 是我們的生成式人工智慧和機器學習技術品牌，非常適合這個時間和地點。我們最近宣布了幾項新的 A/B 功能。稍後會詳細介紹。我也對我們的銷售策略所取得的進展感到鼓舞。在第二季的財報電話會議上，我們致力於改善銷售執行力並提高業務的知名度，特別是在宏觀環境更加嚴峻的背景下。我們很快就進行了一些人員和流程的調整來做到這一點。

First, we made significant progress enhancing our pipeline management. Paula Hansen has driven more rigor and discipline into deal qualification, stage assessment and forecast management. With visibility improving, we are better able to optimize our go-to-market resources.

首先，我們在加強管道管理方面取得了重大進展。 Paula Hansen 在交易資格、階段評估和預測管理方面採取了更嚴格和嚴格的紀律。隨著知名度的提高，我們能夠更好地優化我們的市場資源。

Second, we improved our importer linearity. The nature of our renewal cycle leads to a back-end weighted quarter but we did much better capitalizing on opportunities to secure wins earlier in the quarter.

其次，我們提高了進口商的線性度。我們更新周期的性質導致了後端加權季度，但我們在本季度早些時候充分利用了獲得勝利的機會，並做得更好。

And third, we incorporated these changes into our sales enablement capabilities. We are providing new training programs and tools to sales leaders throughout the organization to help them better monitor opportunities and deliver coaching actions needed to drive success with their teams. We have more work ahead of us but we're pleased to see an early impact from our efforts. We saw our best pipe conversion in recent quarters, plus delivered meaningful improvement in sales and marketing efficiency.

第三，我們將這些變化納入我們的銷售支援能力。我們正在為整個組織的銷售領導者提供新的培訓計劃和工具，以幫助他們更好地監控機會並提供推動團隊成功所需的指導行動。我們還有更多的工作要做，但我們很高興看到我們的努力產生了早期影響。我們看到了最近幾季最好的管道轉換，並且在銷售和行銷效率方面實現了有意義的改進。

As discussed on last quarter's call, we're excited to welcome two new senior leaders to the sales organization, both reporting directly to Paula Hansen. First, our new SVP of Sales for the Americas, Mark Dorsey, joins us from Oracle where he served as SVP of Enterprise Cloud sales growing Oracle's cloud business and transforming the sales team into a skilled cloud sales organization. Mark has held several leadership positions at Oracle, and most recently was the SVP of the retail vertical for North America.

正如上季度電話會議中所討論的那樣，我們很高興歡迎兩位新的高級領導加入銷售組織，他們都直接向 Paula Hansen 匯報。首先，我們新任美洲銷售資深副總裁 Mark Dorsey 在加入我們之前曾在 Oracle 擔任企業雲端銷售資深副總裁，負責發展 Oracle 的雲端業務並將銷售團隊轉變為熟練的雲端銷售組織。 Mark 曾在 Oracle 擔任多個領導職務，最近擔任北美零售業的高級副總裁。

And second, our new SVP of Global Alliances and Channel Scott Van Valkenburg brings over 25 years of partner leadership experience working with global channel organizations. Scott joins us from Genpact, where he ran their global channel and alliance business, prior to which he held a high-performing Global Alliance team at SaaS Institute, where he managed over 1,400 partners. I'm excited to welcome both Mark and Scott to the mission and look forward to building on recent progress in our go-to-market strategy.

其次，我們新任的全球聯盟和通路資深副總裁 Scott Van Valkenburg 帶來了超過 25 年與全球通路組織合作的合作夥伴領導經驗。 Scott 在加入我們之前曾在 Genpact 負責全球通路和聯盟業務，在此之前，他在 SaaS Institute 擔任高績效全球聯盟團隊的負責人，管理著 1,400 多個合作夥伴。我很高興歡迎馬克和斯科特來執行此任務，並期待在我們的市場進入策略的最新進展的基礎上再接再厲。

On that note, we continue to see strong validation that our executive facing enterprise-focused sales motion is working. Global 2000 penetration came in at 49%. That's up 3 points from Q3 last year. Global 2000 net expansion rate held strong at 130% and remains well above our overall net expansion rate of 119%. And we continue to attract marquee additions to our growing partner ecosystem. We announced a great new partnership with SADA on leading business and technology consultancy and Google Class top global partner.

在這一點上，我們繼續看到強有力的驗證，證明我們的高階主管面向企業的銷售動議正在發揮作用。全球 2000 強的滲透率為 49%。這比去年第三季上升了 3 個百分點。全球 2000 年淨擴張率維持在 130% 的強勁水平，仍遠高於我們 119% 的整體淨擴張率。我們不斷吸引更多的合作夥伴加入我們不斷發展的合作夥伴生態系統中。我們宣布與 SADA 就領先的商業和技術諮詢以及 Google Class 頂級全球合作夥伴建立了良好的新合作夥伴關係。

Our ELA strategy has provided a streamlined land-and-expand motion that is resonating with larger organizations. ELA simplified pricing, bundle features and often include a component of trial seats, what we refer to as burst licenses. This flexibility encourages exploration and removes the friction that software vendors often impose on customers. Of course, we support these projects with our customer success team and partners which we believe accelerates upsell opportunities.

我們的 ELA 策略提供了簡化的土地擴張動議，與大型組織產生了共鳴。 ELA 簡化了定價、捆綁功能，並且通常包括試用席位的組件，即我們所說的突發許可證。這種靈活性鼓勵探索並消除軟體供應商經常給客戶帶來的摩擦。當然，我們與客戶成功團隊和合作夥伴一起支持這些項目，我們相信這會加速追加銷售機會。

We had a great Q3 win with a Fortune 500 biopharmaceutical company that demonstrates the value of the ELA. This customer adopted its first burstable ELA with Alteryx in 2022. Early users quickly generated significant cost savings by automating time-consuming tasks across finance and operations teams. This resulted in a strategic push to broaden user engagement with the burst licenses, we saw dramatic use case expansion. In Q3 2023, the customer signed on for a new larger ELA with burst to drive momentum into next year. And we are selling more and more ELAs every quarter.

我們在第三季與一家財富 500 強生物製藥公司取得了巨大的勝利，這證明了 ELA 的價值。該客戶於 2022 年採用了 Alteryx 的第一個突發式 ELA。這導致了擴大用戶與突發許可證的參與度的策略推動，我們看到了用例的急劇擴展。 2023 年第三季度，客戶簽約購買更大的新 ELA，為明年帶來強勁動力。我們每季都會銷售越來越多的 ELA。

In Q3, we more than doubled the number of ELAs sold versus the same quarter last year. NVIDIA, a leader in accelerated computing and AI is leveraging Alteryx to automate tasks and orchestrate data within finance and beyond. One of the largest private companies in America signed on for a 1,000-seat ELA with 500 burst seats. This customer is establishing a flexible framework for increased engagement and automation across finance, tax, accounting and HR, plus is exploring use cases in manufacturing and supply chain management. Our Snowflake partnership and integration were key differentiators here.

第三季度，我們銷售的 ELA 數量比去年同期增加了一倍以上。 NVIDIA 是加速運算和人工智慧領域的領導者，它正在利用 Alteryx 來自動化任務並編排金融內外的數據。美國最大的私人公司之一簽署了一個擁有 1,000 個座位的 ELA，其中有 500 個座位。該客戶正在建立一個靈活的框架，以提高財務、稅務、會計和人力資源領域的參與和自動化程度，此外還在探索製造和供應鏈管理中的用例。我們的 Snowflake 合作夥伴關係和整合是這裡的關鍵差異化因素。

Avalara, as the unique provider of tax compliance automation software meaningfully expanded within the ELA, and they are finding incremental opportunities to save costs by automating more within finance and a Fortune 500 global marketing and communications company adopted a new multiyear ELA as they expand their usage of Designer. After using Designer for years to enhance marketing analytic processes for their clients, the customer is now exploring opportunities to automate financial processes and unlock savings within their very own organization.

Avalara 作為稅務合規自動化軟體的獨特提供者，在ELA 中進行了有意義的擴展，他們正在尋找透過在財務領域實現更多自動化來節省成本的增量機會，而一家財富500 強全球行銷和傳播公司在擴大其使用範圍時採用了新的多年期ELA的設計師。在使用 Designer 為客戶增強行銷分析流程多年後，客戶現在正在探索自動化財務流程並在自己的組織內實現節省的機會。

We now have a foothold in nearly half of the Global 2000, many of which remain early in bringing scale and accessibility to their data stack. With our top-down executive-level engagement, we believe these companies are establishing Alteryx as a key pillar of their data analytics journey. Pacific Dental, a leading national dental and medical support organization is a great example of this. After beginning with a relatively small implementation of Alteryx Designer a few years ago, we established multiple workflows that generated significant time savings throughout the finance organization, with the ROI potential well established and strong executive engagement and support, Pacific Dental expanded to a much more comprehensive, versable ELA package this quarter as they look to empower new users and introduce Alteryx to adjacent teams.

現在，我們在近一半的全球 2000 強企業中佔有一席之地，其中許多企業在擴大其資料堆疊的規模和可近性方面仍處於早期階段。透過我們自上而下的高階主管參與，我們相信這些公司正在將 Alteryx 打造成其資料分析之旅的關鍵支柱。太平洋牙科 (Pacific Dental) 是一家領先的全國牙科和醫療支援組織，就是一個很好的例子。幾年前，我們從相對較小的Alteryx Designer 實施開始，建立了多個工作流程，在整個財務組織中節省了大量時間，隨著投資回報率潛力的確定以及強有力的高管參與和支持， Pacific Dental 擴展到了更全面的，本季度推出了多功能 ELA 包，因為他們希望為新用戶提供支援並向相鄰團隊介紹 Alteryx。

We're also seeing traction with the technical executive leadership teams of our customers, chief information officers, chief technology officers, and chief data analytics officers. This dynamic is most prominent with our larger customers and we believe is validation of the governance and enterprise readiness of the Alteryx platform.

我們也看到客戶的技術執行領導團隊、資訊長、技術長和首席數據分析長的吸引力。這種動態在我們的大客戶中最為突出，我們相信這是對 Alteryx 平台治理和企業準備的驗證。

Additionally, CIO endorsement is often an important milestone on the path to broader cloud adoption. On that note, our platform focused strategy of creating cloud-connected data analytics experience is resonating. We provide customers with the ability to design analytic workflows anywhere and then implement and automate workflows in the Alteryx Analytics Cloud platform. Some users will create workflows in Designer on a desktop. Some will leverage our analytics cloud offering for model creation and some will tap into adjacent offerings with machine learning, auto insights and location intelligence. This multifaceted democratization of data analytics all built on a single unified platform is what we mean when we say cloud is an and, not an or.

此外，CIO 的認可通常是更廣泛的雲端採用道路上的重要里程碑。在這一點上，我們以平台為中心的創建雲端連接資料分析體驗的策略引起了共鳴。我們使客戶能夠在任何地方設計分析工作流程，然後在 Alteryx 分析雲端平台中實施和自動化工作流程。某些使用者將在桌面上的 Designer 中建立工作流程。有些將利用我們的分析雲產品來創建模型，有些將利用機器學習、自動洞察和位置智慧等鄰近產品。當我們說雲端是一個“與”，而不是“或”時，我們所指的就是這種建立在單一統一平台上的資料分析的多方面民主化。

We're seeing many of our early Alteryx analytics cloud platform adopters also expanding their flagship Designer implementations in parallel. WestRock Company, a Fortune 500 packaging solutions company is a great example of this. In collaboration with our customer success team and the partner, WestRock identified opportunities to create value through automation across a broad range of use cases. We found we were able to best meet the needs of new users by meaningfully expanding the design implementation with a new Designer and server ELA bundle, plus add a new cloud ELA to enable use cases across Designer cloud, machine learning and data insights.

我們看到許多早期的 Alteryx 分析雲端平台採用者也正在並行擴展其旗艦 Designer 實作。財富 500 強包裝解決方案公司 WestRock Company 就是一個很好的例子。 WestRock 與我們的客戶成功團隊和合作夥伴合作，發現了透過自動化在廣泛的用例中創造價值的機會。我們發現，透過使用新的Designer 和伺服器ELA 捆綁包有意義地擴展設計實現，並添加新的雲端ELA 以支援跨Designer 雲端、機器學習和資料洞察的用例，我們能夠最好地滿足新用戶的需求。

Cloud is also opening up access to new customer opportunities. For example, KeyBank National Association, one of the nation's largest bank-based financial services companies, selected Designer cloud as a foundational component to accelerate their analytics program. Designer cloud's ease of use, scalability and native integration with Google Cloud Platform were key differentiating factors in KeyBank's decision to expand with Alteryx.

雲端也開啟了新的客戶機會。例如，美國最大的銀行金融服務公司之一 KeyBank National Association 選擇 Designer Cloud 作為加速其分析計畫的基礎元件。 Designer Cloud 的易用性、可擴展性以及與 Google Cloud Platform 的本機整合是 KeyBank 決定透過 Alteryx 進行擴展的關鍵差異化因素。

Advancing the cloud connected analytics experience is certainly an important R&D priority for Alteryx. Another top innovation focus is generative AI. We envision a world where generative AI influences all aspects of software and see opportunities to incorporate AI throughout our entire platform and breadth of offerings. Earlier this year, we introduced A/B, and we're already seeing great traction with A/B features by existing Auto Insights customers. Over the last 3 months, more than half of active Auto Insights accounts have leveraged Magic Documents. That's strong engagement for a solution we introduced less than 6 months ago.

提升雲端連結分析體驗無疑是 Alteryx 的重要研發重點。另一個頂級創新焦點是生成式人工智慧。我們設想一個生成式人工智慧影響軟體各個方面的世界，並看到將人工智慧融入我們整個平台和產品範圍的機會。今年早些時候，我們推出了 A/B，我們已經看到現有 Auto Insights 客戶對 A/B 功能的巨大吸引力。在過去 3 個月中，超過一半的活躍 Auto Insights 帳戶使用了 Magic Documents。對於我們不到 6 個月前推出的解決方案來說，這是一個強烈的參與。

At our Inspire Conference in Europe, we had several exciting AI announcements. First, AI Studio previously code-named AI Workbench is designed to enable Alteryx platform users to securely manage, tune and consume customized large language models based on their proprietary data. A seamless integration with Alteryx Designer will enable customers to use those LLMs in existing Designer workflows and construct applications with a conversational interface.

在歐洲的 Inspire 大會上，我們發布了幾個令人興奮的人工智慧公告。首先，AI Studio先前代號為AI Workbench，旨在使Alteryx平台使用者能夠根據其專有資料安全地管理、調整和使用客製化的大型語言模型。與 Alteryx Designer 的無縫整合將使客戶能夠在現有 Designer 工作流程中使用這些 LLM，並透過對話介面建立應用程式。

Second, playbooks is a new AI feature planned for Auto Insights that automatically recommends high-value use cases tailored to a customer's industry vertical, job function or company. This will enable users to quickly generate synthetic data sets and build proof-of-concept deliverables.

其次，劇本是為 Auto Insights 計劃的一項新人工智慧功能，可自動推薦針對客戶的垂直行業、工作職能或公司量身定制的高價值用例。這將使用戶能夠快速產生合成資料集並建立概念驗證交付成果。

And third, AI-powered brushing is a new Designer cloud feature that is designed to provide predictive transformation suggestions for workflows as users explore workflow results in real time. This allows users to automate the creation of data pipelines and get from data to insights faster.

第三，人工智慧驅動的刷牙是一項新的 Designer 雲端功能，旨在在使用者即時探索工作流程結果時為工作流程提供預測性轉換建議。這使用戶能夠自動建立資料管道，並更快地從資料中獲得見解。

One more platform launch I want to highlight is the Alteryx Marketplace. Launched in early October, the Alteryx Marketplace has already gained significant traction with over 2,000 add-on downloads and a rapidly expanding collection of verified expert built and supported add-ons, including connectors and macros. The Alteryx Marketplace is designed to provide our users with a platform for extending their analytic capabilities with companies. Again, it's about helping our users increase efficiency with their analytics and get to insights faster.

我想強調的另一個平台發布是 Alteryx Marketplace。 Alteryx Marketplace 於 10 月初推出，已經獲得了巨大的關注，下載了 2,000 多個附加元件，經過驗證的專家建構和支援的附加元件（包括連接器和巨集）的數量正在迅速擴大。 Alteryx Marketplace 旨在為我們的用戶提供一個平台，以擴展他們與公司的分析能力。同樣，它是為了幫助我們的用戶提高分析效率並更快地獲得見解。

In conclusion, we're encouraged with the Q3 operational performance and results relative to our expectations entering the quarter. Our differentiated easy-to-use platform enables our customers to rapidly scale a data-driven culture throughout the organization. And with new cloud connected experiences and our generative AI A/B innovations, we're finding ways to further enhance and accelerate the analytic journey. We certainly faced some challenges in Q2, and I am so proud of how quickly the team adapted and improved execution this quarter, and we did it while maintaining our focus, vision and disciplined cost management. I believe the business and this team is on a strong foundation, and we are hard at work to carry forward the momentum as we close out the year.

總之，我們對第三季的營運表現和結果相對於我們進入本季的預期感到鼓舞。我們獨特的易於使用的平台使我們的客戶能夠在整個組織中快速擴展數據驅動的文化。借助新的雲端連接體驗和我們的生成式 AI A/B 創新，我們正在尋找進一步增強和加速分析之旅的方法。我們在第二季度確實面臨著一些挑戰，我對團隊本季適應和改進執行的速度感到非常自豪，並且我們在保持專注、願景和嚴格的成本管理的同時做到了這一點。我相信公司和這個團隊擁有堅實的基礎，我們正在努力工作，以在今年結束時繼續保持這一勢頭。

With that, I'll turn the call over to Kevin.

這樣，我就把電話轉給凱文。

Thank you, Mark.

謝謝你，馬克。

We are pleased with the improved execution in the quarter, which enabled us to deliver key Q3 financial metrics above our prior outlook ranges. ARR came in at $914 million, up 21% year-over-year and $9 million above the high end of our guided range. While we don't provide constant currency, I would note that currency rate changes since we established our guidance in early August resulted in a headwind of approximately $6 million. Removing the impact of this currency headwind, our Q3 ARR outperformed the high end of our guided range by $15 million.

我們對本季執行情況的改善感到滿意，這使我們能夠提供高於我們先前預期範圍的關鍵第三季財務指標。 ARR 達到 9.14 億美元，年成長 21%，比我們指導範圍的上限高出 900 萬美元。雖然我們不提供固定匯率，但我要指出的是，自從我們在 8 月初制定指導以來，匯率變化導致了約 600 萬美元的逆風。消除貨幣逆風的影響，我們第三季的 ARR 比指導範圍的高端高出 1500 萬美元。

Better-than-expected conversion rates on expansion opportunities plus durable, robust gross retention contributed to our total Q3 bookings, tracking above our assumptions for the quarter. Revenue came in at $232 million or $20 million above the high end of our guided range. This reflects the bookings upside and slightly higher contract duration.

擴張機會的轉換率優於預期，加上持久、強勁的毛保留率，推動了我們第三季的總預訂量，高於我們對本季的假設。收入達到 2.32 億美元，比我們指導範圍的上限高出 2000 萬美元。這反映了預訂量的上升和合約期限的略長。

Finally, our non-GAAP operating income was $36 million, $30 million above the high end of our guided range. We have been closely managing incremental spend and optimizing internal processes, which enabled the revenue upside to fall through to the bottom line.

最後，我們的非 GAAP 營業收入為 3,600 萬美元，比我們指導範圍的上限高出 3,000 萬美元。我們一直在密切管理增量支出並優化內部流程，這使得收入成長得以回落至利潤。

In recent years, we decided to up-level our go-to-market strategy to target the largest organizations in the world. In doing this, we hired experienced enterprise sales reps and leaders, enhance our partner programs and build out an enterprise quality customer success team. Over the past year, we've seen progress on this strategy in our financial results, and that continued in Q3.

近年來，我們決定升級我們的市場進入策略，以全球最大的組織為目標。為此，我們聘請了經驗豐富的企業銷售代表和領導者，增強了我們的合作夥伴計劃，並建立了一支企業級優質客戶成功團隊。在過去的一年裡，我們在財務表現中看到了這項策略的進展，而這種情況在第三季仍在繼續。

We're winning with larger organizations as evidenced by our growing Global 2000 penetration now at 49%. That's an increase of 10 points from 2 years ago. We're winning larger deals. Our average deal size for Q3 expansion wins increased meaningfully year-over-year, and we're seeing our average customer size expand as customers are increasing Designer and server implementation as well as exploring new use cases with our cloud connected offerings. We grew our 250,000-plus ARR customers by 20% year-over-year to 706 and our $1 million plus ARR customer count increased over 30% year-over-year.

我們正在贏得更大的組織，我們的 Global 2000 滲透率目前已達到 49%，證明了這一點。比 2 年前增加了 10 個百分點。我們正在贏得更大的交易。我們第三季擴張的平均交易規模同比顯著增加，隨著客戶增加設計器和伺服器實施以及利用我們的雲端連接產品探索新用例，我們看到我們的平均客戶規模也在擴大。我們的 ARR 客戶數量超過 25 萬，年增 20%，達到 706 家，100 萬美元以上的 ARR 客戶數量年增超過 30%。

We are constantly working to optimize and refine our go-to-market strategy. And now as we are moving beyond the heavier investment phase from earlier last year, we are starting to see improved leverage and profitability in the model.

我們不斷努力優化和完善我們的上市策略。現在，隨著我們擺脫去年早些時候的大投資階段，我們開始看到該模型的槓桿率和盈利能力有所改善。

Sales rep productivity as defined by new bookings per rep improved year-over-year, a function of both performance management and go-to-market enhancing efforts. Both GAAP and non-GAAP sales and marketing expense came down as a percentage of revenue by over 5 points versus Q3 of last year. And we've effectively decreased GAAP and non-GAAP general and administrative spend while increasing ARR by more than 20% year-over-year. This underlying financial leverage is enabling us to improve profitability while still investing in a healthy level of research and development to fuel product innovation around generative AI, cloud connected offerings, and Alteryx platform integrations with adjacent enterprise systems.

銷售代表的生產力（以每個代表的新預訂量來定義）逐年提高，這是績效管理和進入市場增強努力的結果。與去年第三季相比，GAAP 和非 GAAP 銷售和行銷費用佔收入的百分比均下降了 5 個百分點以上。我們有效地減少了 GAAP 和非 GAAP 一般及管理支出，同時 ARR 年比增加了 20% 以上。這種潛在的財務槓桿使我們能夠提高獲利能力，同時仍投資於健康水準的研發，以推動圍繞生成人工智慧、雲端連接產品以及 Alteryx 平台與相鄰企業系統整合的產品創新。

As we think longer term, many of the profit drivers for this business are still ahead of us. First, while landing large enterprise new logos is costly, expanding with an existing enterprise customer can carry a much lower go-to-market cost. Second, our recent cost optimization initiatives have resulted in an organizational structure that we believe is more aligned with the current macro environment. This means we expect to enter 2024 with a leaner cost structure than we've had for several quarters.

從長遠來看，這項業務的許多利潤驅動因素仍然存在。首先，雖然大型企業使用新標誌的成本很高，但擴大現有企業客戶的上市成本可以低得多。其次，我們最近的成本優化措施形成了我們認為更符合當前宏觀環境的組織結構。這意味著我們預計進入 2024 年時的成本結構將比幾季更加精簡。

Third, we've established a strong partner ecosystem and now under the leadership of Scott Van Valkenburg, we look to expand our partner source contributions to drive additional scale and efficiency. Fourth, our portfolio of cloud connected offerings creates new opportunities to cross-sell and engage with new types of users. And finally, as we've demonstrated throughout 2023, we are approaching our cost structure with greater discipline and expect to unlock additional efficiencies with scale going forward.

第三，我們已經建立了強大的合作夥伴生態系統，現在在 Scott Van Valkenburg 的領導下，我們希望擴大合作夥伴來源的貢獻，以提高規模和效率。第四，我們的雲端連結產品組合創造了交叉銷售和與新類型用戶互動的新機會。最後，正如我們在 2023 年所證明的那樣，我們正在以更嚴格的紀律來處理我們的成本結構，並期望透過未來的規模來提高效率。

Now before I turn to the outlook, I'd like to share how we are thinking about the near-term opportunity and our guidance philosophy. We have a lot to be excited about in Q4. We have significant upsell opportunities given our large renewal base. We're lapping Q4 2022 ELAs, which creates opportunities for additional expansion as burst licenses expire. And of course, we have our ramping portfolio of cloud connected solutions that are increasingly gaining customer interest. And while our Q3 performance demonstrated solid progress in improving our execution, we're still cognizant of the macro dynamics that we encountered in Q2 as well as the time required to continue improving sales execution. As such, we're largely maintaining the prudent assumptions we incorporated in our prior guidance as it relates to customer buying behavior, conversion rates and renewal rates.

現在，在展望前景之前，我想分享我們如何看待近期機會和我們的指導理念。第四季我們有很多值得興奮的事情。有鑑於我們龐大的續訂基礎，我們擁有大量的追加銷售機會。我們正在對 2022 年第 4 季的 ELA 進行迭代，這將在突發許可證到期時為進一步擴展創造機會。當然，我們擁有不斷增加的雲端連接解決方案組合，這些解決方案越來越引起客戶的興趣。儘管我們第三季的業績在提高執行力方面取得了堅實的進展，但我們仍然認識到我們在第二季度遇到的宏觀動態以及繼續提高銷售執行力所需的時間。因此，我們在很大程度上維持了先前指南中納入的審慎假設，因為它與客戶購買行為、轉換率和續約率有關。

With this in mind, let's turn to the Q4 2023 outlook. We expect ARR to be in the range of $942 million to $948 million, representing year-over-year growth of 13% to 14%. This is based on current FX rates and incorporates the incremental $6 million currency headwind relative to the guidance we issued in August 2023. We expect GAAP revenue to be in the range of $334 million to $340 million, representing year-over-year growth of 11% to 13%. We expect our non-GAAP operating income to be in the range of $112 million to $118 million. We expect non-GAAP net income per share to be in the range of $1.10 to $1.17 per share. This assumes 77.2 million weighted average shares outstanding and an effective tax rate of 20%.

考慮到這一點，讓我們轉向 2023 年第四季的展望。我們預計 ARR 將在 9.42 億美元至 9.48 億美元之間，年增 13% 至 14%。這是基於當前的外匯匯率，並考慮了相對於我們2023 年8 月發布的指引增加的600 萬美元的貨幣逆風。 。我們預計我們的非 GAAP 營業收入將在 1.12 億美元至 1.18 億美元之間。我們預計非 GAAP 每股淨利潤將在每股 1.10 美元至 1.17 美元之間。假設加權平均已發行股數為 7,720 萬股，有效稅率為 20%。

For the full year 2023, we are increasing our GAAP revenue range to $953 million to $959 million, representing year-over-year growth of 11% to 12%. This is up from the prior growth range of 9% to 10%. We expect non-GAAP operating profit to be $100 million to $106 million, an improvement from our prior outlook for $70 million to $80 million. We believe we are executing well on recent cost optimization initiatives and are seeing savings earlier than originally planned.

2023 年全年，我們將 GAAP 營收範圍提高至 9.53 億美元至 9.59 億美元，年增 11% 至 12%。這高於先前 9% 至 10% 的成長幅度。我們預計非 GAAP 營業利潤為 1 億美元至 1.06 億美元，比我們先前預期的 7,000 萬美元至 8,000 萬美元有所改善。我們相信，我們最近的成本優化措施執行得很好，並且比原計劃更早地看到了節省。

Finally, we expect non-GAAP net income per share to be in the range of $0.94 and to $1.01, an improvement from our prior outlook for $0.62 to $0.72. This assumes a 76.5 million weighted average shares outstanding and an effective tax rate of 20%.

最後，我們預計非 GAAP 每股淨利潤將在 0.94 美元至 1.01 美元之間，較之前預期的 0.62 美元至 0.72 美元有所改善。假設加權平均流通股為 7,650 萬股，有效稅率為 20%。

In closing, improved execution despite consistent macro conditions enabled us to outperform our assumptions entering Q3. We converted on expansion opportunities at a higher-than-expected level plus we're capturing cost savings faster than anticipated. While we are pleased with the results in the context of the challenging first half of the year, we are mindful that we continue to face challenging macroeconomic circumstances, and there is more work to be done. The team is focused on building on recent improvements and closing the year with strength, which we believe will put us in a position for a productive and profitable 2024.

最後，儘管宏觀條件一致，但執行情況的改善使我們在進入第三季時的表現超出了我們的假設。我們以高於預期的水平抓住了擴張機會，而且我們比預期更快地實現了成本節約。雖然我們對今年上半年充滿挑戰的背景下所取得的成果感到滿意，但我們也意​​識到，我們仍然面臨著充滿挑戰的宏觀經濟環境，還有更多工作要做。團隊專注於在最近的改進的基礎上繼續努力，並以實力結束這一年，我們相信這將使我們能夠在 2024 年實現富有成效和盈利的目標。

With that, thank you all for joining us today, and I'll turn the call back to the operator.

在此，感謝大家今天加入我們，我會將電話轉回給接線生。

(Operator Instructions) Our first question is from Koji Ikeda with Bank of America.

（操作員說明）我們的第一個問題來自美國銀行的 Koji Ikeda。

So I wanted to ask a couple of questions here. With the first one on the new SVP of Sales for Americas and then the SVP of Global Alliance and Channels. And just really thinking about any near-term or long-term changes to the overall growth strategy with them joining the team?

所以我想在這裡問幾個問題。第一個是新任美洲銷售高級副總裁，然後是全球聯盟和通路高級副總裁。是否真的考慮過他們加入團隊後對整體成長策略的任何近期或長期變化？

Koji, it's Paula. I'll take that question. We're very excited about both Mark and Scott joining us. And in both cases, it's really about building on the progress that we've had in this business over the last couple of years. In the Americas, Mark will be helping us to continue our focus on operational discipline and rigor while obviously helping us with cloud becoming an increasing percentage of the business and the conversations that we'll be having with customers around that. And then with Scott and the Alliance and Channels business, it's building on the foundation that we have there, as we've talked about, more than 50% of our new ACV each quarter comes from partners. And we look to continue to build on that, accelerate that and help us continue to drive efficiency and scale. So I couldn't be more pleased with them joining Alteryx.

浩二，我是寶拉。我來回答這個問題。我們對馬克和斯科特的加入感到非常興奮。在這兩種情況下，這實際上都是在我們過去幾年在這項業務中取得的進展的基礎上再接再厲。在美洲，馬克將幫助我們繼續專注於營運紀律和嚴謹性，同時顯然會幫助我們使雲端在業務以及我們將與客戶進行的對話中所佔的比例不斷增加。然後，透過 Scott 以及聯盟和通路業務，它建立在我們現有的基礎上，正如我們所討論的，我們每季超過 50% 的新 ACV 來自合作夥伴。我們希望繼續在此基礎上繼續發展，加速並幫助我們繼續提高效率和規模。所以我對他們加入 Alteryx 感到非常高興。

And just one follow-up here for Mark, Paula or Kevin. It's going to be somewhat of a tough question, but I have to ask, and it's around your framework for creating shareholder value. Clearly, the third quarter results here are better than last quarter, and the stock reflects that being up after hours. But in the back of our minds, we keep thinking about the rumors of takeover interest and -- the question here is, I really realize you can't probably comment on that directly, but any sort of commentary on your framework for driving shareholder value would be really helpful.

這裡只是馬克、保拉或凱文的後續行動。這將是一個有點棘手的問題，但我必須問，它是圍繞著創造股東價值的框架。顯然，第三季的業績好於上季，該股盤後上漲也反映了這一點。但在我們的內心深處，我們一直在思考有關收購興趣的傳言，而且——這裡的問題是，我真的意識到你可能無法直接對此發表評論，但對你推動股東價值的框架的任何評論真的很有幫助。

Yes. Thanks for the question, Koji. Listen, we think this business is a really important business for a very long time. And given the distributed kind of nature of the competitors in this space, we think there's going to be a couple of independent companies that over -- in the mid and long term that will build a platform that will take sizable share. And we're running this business because we think it's going to be Alteryx. And so obviously, I can't comment on any rumors, but we feel really good about the improvements that we've made to execution and the focus that we've applied to bringing profitability and free cash flow to the business.

是的。謝謝你的提問，小二。聽著，我們認為這項業務在很長一段時間內都是一項非常重要的業務。考慮到該領域競爭對手的分散性質，我們認為從中長期來看，將會有一些獨立公司建立一個佔據相當大份額的平台。我們正在經營這項業務，因為我們認為它將是 Alteryx。顯然，我無法對任何謠言發表評論，但我們對執行方面所做的改進以及我們為業務帶來盈利和自由現金流的關注感到非常滿意。

Our next question is from Sanjit Singh with Morgan Stanley.

我們的下一個問題來自摩根士丹利的桑吉特辛格。

Really encouraging trends on the sales force productivity. To that end, as we go into Q4, which is obviously a big renewal quarter, is there any sort of whether it's macro or any other sort of KPIs that suggest that Q3 wouldn't play out in Q4? I'm just trying to get a sense, Kevin, in terms of when you look at the Q4 guidance, what assumptions you have sort of embedded in just sort of the continuation of the assumptions that we entered this quarter. And if the sort of productivity trends play out, we're in for a similar quarter in Q4 as we did in this good quarter in Q3. I just want to get some context around how you can start to the Q4 guidance. I appreciate it.

銷售人員生產力的趨勢確實令人鼓舞。為此，當我們進入第四季度時，這顯然是一個重要的更新季度，是否有任何宏觀或任何其他類型的關鍵績效指標表明第三季度不會在第四季度發揮作用？凱文，我只是想了解一下，當您查看第四季度的指導時，您在我們本季度進入的假設的延續中嵌入了哪些假設。如果這種生產力趨勢顯現出來，我們第四季的業績將與第三季這個好季度的業績類似。我只是想了解一些有關如何開始第四季度指導的背景資訊。我很感激。

Yes. Great question, Sanjit. It's Mark here. Thanks for that.

是的。好問題，桑吉特。我是馬克。謝謝你。

Yes, listen, I think we're happy with what we did in Q3. We feel it's prudent and responsible to be conservative, if you will, around Q4 guidance. But we also know that Q4 is by far, for us, the biggest cohort of renewals in the fiscal year. And we've had the full year -- sales teams around the world have had the full year to build campaigns, to build expansion on top of those renewals. And so with that said, I think we took -- got taken out to the woodshed in Q2 for resetting Q3 and Q4, and we want to make sure that we can predict our topline so that we can measure how much we're going to spend on the bottom line and do that responsibly for all shareholders, but also for our customers and our people.

是的，聽著，我認為我們對第三季的表現感到滿意。我們認為，如果您願意的話，對第四季度的指導保持保守是謹慎和負責任的。但我們也知道，對我們來說，第四季是本財年迄今最大的續約。我們有一整年的時間——世界各地的銷售團隊有一整年的時間來進行行銷活動，在這些更新的基礎上進行擴張。話雖如此，我認為我們在第二季度被帶到了木棚裡，以重置第三季度和第四季度，我們希望確保我們可以預測我們的營收，以便我們可以衡量我們將要實現多少目標注重獲利，對所有股東負責，同時也對我們的客戶和員工負責。

Makes tons of sense, Mark. I guess my follow-up question is just sort of on the burstable ELAs. We've had that sort of contract vehicle out for a while now. And just in terms of what you guys are seeing in terms of yield, you mentioned a couple of customers expanding quite nicely, leveraging the trial users in the burstable ELA -- burstable ELA features of the contract. In terms of going to Q4 or just more broadly, what type of yield are you seeing in converting trial users into paid users with the burstable ELAs?

很有道理，馬克。我想我的後續問題只是關於可爆發的 ELA。我們已經推出這種合約工具有一段時間了。就你們所看到的產量而言，你們提到了一些客戶的擴展非常好，利用了可突發 ELA 中的試用用戶——合約的可突發 ELA 功能。就第四季度或更廣泛而言，您認為透過可爆發性 ELA 將試用用戶轉化為付費用戶會產生什麼類型的收益？

I'll take that one, Sanjit. Thanks for the question. So in Q3, we saw continued interest from our customers in our ELA bundles. In fact, we more than doubled the number of ELAs in Q3 versus Q3 of 2022. And we also saw a number of customers that did uplift and expand with us as an outcome of their utilization of the burst from 2022. So we continue to be encouraged by the trends that we're seeing there. And Q4 is going to be an even bigger opportunity for us as it relates to ELA upsells because we'll be lapping our biggest quarter of ELAs historically in Q4 of last year.

我想要那個，桑吉特。謝謝你的提問。因此，在第三季度，我們看到客戶對我們的 ELA 捆綁包持續感興趣。事實上，與2022 年第三季相比，我們在第三季的ELA 數量增加了一倍多。 ，我們繼續我們在那裡看到的趨勢令人鼓舞。第四季對我們來說將是一個更大的機會，因為它與 ELA 的追加銷售有關，因為我們將在去年第四季度實現歷史上最大的 ELA 季度銷售。

Our next question is from Derrick Wood with TD Cowen.

我們的下一個問題來自 Derrick Wood 和 TD Cowen。

First one, for Mark. Nice to see the execution against targets. And you mentioned better linearity and the strongest pipeline conversion in several quarters. I guess just what were the -- what were you able to solve for to improve these motions? And I know last quarter, one of the main challenges was to sell outside of a renewal event. Did you see improvement in selling that way? Or did you drive earlier renewals? Just trying to understand how some of the sales engagements changed in the quarter?

第一個，給馬克。很高興看到對目標的執行。您提到了幾個季度以來更好的線性度和最強的管道轉換。我想你能解決什麼問題來改進這些動作？我知道上個季度，主要挑戰之一是在續訂活動之外進行銷售。您認為這種銷售方式有改善嗎？還是您提前進行了續訂？只是想了解本季的一些銷售活動有何變化？

Derek, thanks for the comments and question. I think for Q3 and for sure, for Q4, what we wanted to get back to was what we've been doing for 11 of the past 12 quarters, that's meeting our commitments or beating our commitments that we make to the Street and that we make internally. So I think it was a bit of getting back to basics on the operating framework side of things. Paula really built a lot more rigor and discipline into the forecasting process, where in the stage is the opportunity, and pretty heavily discounting deals that weren't attached to renewals because we did see in Q2, I think Kevin mentioned that there was greater than 10 deals that weren't attached to a renewal that didn't happen in Q3 -- or excuse me, in Q2. So it's really sort of getting back to those basics, and that really went up and down the organization. So the weekly forecast call is really drilled into how people were doing for the week, for the month and for the quarter. And I think this really worked across the board.

德里克，感謝您的評論和問題。我認為對於第三季度，當然，對於第四季度，我們想要回到的是我們在過去12 個季度中的11 個季度中所做的事情，即履行我們的承諾或超越我們向華爾街做出的承諾，並且我們內部製作。所以我認為這有點回到了操作框架的基礎。保拉確實在預測過程中建立了更加嚴格和紀律，在這個階段是機會，並且相當大地折扣與續約無關的交易，因為我們確實在第二季度看到了，我認為凱文提到有超過10筆與續約無關的交易在第三季沒有發生，或者對不起，在第二季沒有發生。所以這實際上是回到了這些基礎知識，這確實影響了整個組織。因此，每週預測電話會議實際上深入了解了人們在本週、本月和季度的表現。我認為這確實全面有效。

The other thing I'd say is we really took a number of different looks with the finance team under Kevin's leadership on getting back to making sure that we can hit our pipeline metrics and hit our pipeline conversion metrics. And I think we did a nice job there as well.

我要說的另一件事是，我們確實與凱文領導下的財務團隊進行了多種不同的審視，以確保我們能夠達到我們的管道指標並達到我們的管道轉換指標。我認為我們在那裡也做得很好。

And I'll just add that we've also put increased focus on our enablement across the organization and leveraging of tools to help managers with coaching and to provide clear visibility up and down the organization to what's happening with the pipeline and where opportunities exist. So I think that that gives me confidence that this is something we'll carry forward in our execution in Q4 and beyond.

我只想補充一點，我們還更加關注整個組織的支持和利用工具來幫助經理進行指導，並為組織上下提供清晰的可見性，以了解管道中發生的情況以及存在機會的情況。因此，我認為這讓我有信心，我們將在第四季度及以後的執行中繼續推進這一點。

Great. Maybe one for Kevin. On the -- coming out of last quarter, I think you talked about 500 bps of margin expansion in fiscal '24. But that was off of a lower number. You've raised your operating margin target this year. You've talked about some savings happening earlier than planned. So how should we think about that target for next year? Is that based off kind of the original point of margins last quarter? Or would you expect to be seeing 500 bps of expansion off of whatever you close in fiscal '23?

偉大的。也許是給凱文的。關於上個季度的情況，我認為您談到了 24 財年利潤率擴張 500 個基點。但這是一個較低的數字。您提高了今年的營業利潤率目標。您談到了一些比計劃提前發生的節省。那我們該如何考慮明年的目標呢？這是基於上個季度的原始利潤率嗎？或者您預計 23 財年關閉的業務將實現 500 個基點的擴張？

Yes. Thanks, Derek. I appreciate the question. And yes, you recall correctly. My commentary on the last call was that we would expect to see about 5 points plus from the guide at the time, which was an 8% op margin. So I haven't updated that particular metric. We'll do so on the next earnings call. So for now, I would continue to signal that 13% implied leverage point going into '24.

是的。謝謝，德里克。我很欣賞這個問題。是的，你沒記錯。我對上次電話會議的評論是，我們預計會從當時的指南中看到大約 5 個點以上，即 8% 的營運利潤。所以我還沒有更新那個特定的指標。我們將在下一次財報電話會議上這樣做。因此，就目前而言，我將繼續暗示 13% 的隱含槓桿點將進入 24 年。

Our next question is from Tyler Radke with Citi.

我們的下一個問題來自花旗銀行的泰勒拉德克 (Tyler Radke)。

So the gross retention and net retention rate, both overall and at the G2K held in pretty nicely this quarter. I guess as you think about Q4, where you're processing a bunch of these single year and multiyear renewals, what's your confidence level that those can sustain the level that you saw this quarter? And any early indications in terms of the linearity of the quarter compared to what you saw in Q4 a year ago?

因此，本季的總留存率和淨留存率，無論是整體還是 G2K，都保持得相當不錯。我想，當您考慮第四季度時，您正在處理大量單年和多年續訂，您對這些續訂能否維持本季水準的信心有多大？與一年前第四季相比，有任何關於本季線性的早期跡象嗎？

Thanks, Tyler, for the question. So we're really pleased with the retention rates and expansion rates that we saw in Q3. We obviously took a conservative approach to the guidance, and I'm happy to see that we exceeded on those. And I believe that we'll continue to see that here as we go into Q4. Mark mentioned, these are full year campaigns that our account teams build an enterprise strategy around in preparation for this large renewal base in Q4. And we expect to continue to see very similar reactions from our customers and positive endorsements around the portfolio, the contract duration and the future that they see with Alteryx.

謝謝泰勒提出這個問題。因此，我們對第三季的保留率和擴張率感到非常滿意。顯然，我們對指導採取了保守的態度，我很高興看到我們超越了這些指導。我相信，當我們進入第四季度時，我們將繼續看到這一點。馬克提到，這些是全年活動，我們的客戶團隊圍繞著這些活動制定了企業策略，為第四季的這一大型續訂基地做好準備。我們預計我們的客戶會繼續看到非常類似的反應，並對產品組合、合約期限以及他們對 Alteryx 的未來表示積極認可。

Yes. I'll add to that, if you don't mind, Tyler, Paula, Suresh, myself, we spend a lot of time with customers. And we continue to hear that they really need our tech to modernize and automate their business as they digitize and really try to prepare for the world around us that we live in. And so I think it's just -- these retention rates just show kind of continued need for what we do for our customers. And that's really what gives us confidence as well into Q4 and beyond.

是的。我還要補充一點，如果您不介意的話，泰勒、保拉、蘇雷什和我本人，我們花了很多時間與客戶打交道。我們不斷聽說，他們確實需要我們的技術來實現他們的業務現代化和自動化，因為他們正在數位化，並真正努力為我們所處的周圍世界做好準備。持續需要我們為客戶所做的事情。這確實讓我們對第四季及以後充滿信心。

Great. And a follow-up question, Kevin, I think you mentioned that you saw better rep productivity this quarter, which I think is defined as the number of reps against the new bookings. New bookings were still down, I think, year-over-year. I guess does that imply that the number of reps are down year-over-year? And I guess how far through that kind of performance management are you? And kind of what's your outlook in terms of quota carrying capacity growth from here?

偉大的。後續問題是，凱文，我想您提到您在本季度看到了更好的代表生產力，我認為這被定義為針對新預訂的代表數量。我認為新預訂量仍同比下降。我想這是否意味著代表數量逐年下降？我猜你在這種績效管理方面進行到什麼程度了？您對配額承載能力成長的前景有何看法？

Yes. Thanks, Tyler. So as we talked last quarter, a part of the cost initiatives that we've executed on this year, it includes go-to-market resources. And so there are less quota carrier reps today than there were in the prior year period. We also, as Paula articulated, made a number of execution-related changes that we think contributed to the productivity improvements. So really pleased with how that came out in Q3, and you saw that.

是的。謝謝，泰勒。正如我們上季度所說，我們今年執行的成本計劃的一部分，其中包括進入市場的資源。因此，今天的配額承運人代表數量比去年同期要少。正如保拉所闡述的，我們也做出了一些與執行相關的改變，我們認為這些改變有助於提高生產力。對第三季的結果非常滿意，你也看到了。

Our next question is from Mike Cikos with Needham & Company.

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

Just a couple on my side. And the first if I could just ask on the guided ARR we have. And really, I've received a couple of inbound. So it would be great to just get this out there for everyone. Looking at the Q3 guide versus what we have today, you guys outperformed that midpoint by $11 million, and you're taking up the full year by $11 million. So essentially that net new ARR build in Q4 is unchanged. Would be great to hear, I know that you guys are assuming relatively consistent, which is prudent with the macro, but why not assume some portion of that improved sales execution is the first point. And then the second point, which I'd really like you guys to hone in on is, was there any deal capture for those deals that were pushed out in Q2 because, again, just trying to get a sense of this outperformance that we saw in Q3. I know we're attributing it to the enablement of pipe conversion, but how much of that was deals that may have gotten pushed from Q2 into Q3?

我這邊只有一對夫婦。首先，我是否可以詢問一下我們現有的 ARR 指導。事實上，我收到了一些入境郵件。因此，如果能為每個人提供這個就太好了。看看第三季的指南和我們今天的指南，你們的表現比中點高了 1100 萬美元，全年的收入也高了 1100 萬美元。因此，第四季度的淨新 ARR 建造基本上沒有變化。很高興聽到，我知道你們假設相對一致，這對宏觀而言是謹慎的，但為什麼不假設改善的銷售執行的某些部分是第一點。然後，我真的希望你們重點關注的第二點是，對於第二季度推出的那些交易是否有任何交易捕獲，因為，再次，只是想了解我們看到的這種優異表現在第三季度。我知道我們將其歸因於管道轉換的啟用，但是其中有多少交易可能從第二季推到了第三季？

Yes. Mike, Mark here. I'll take a crack at that. Listen, they're not giving out any badges for being aggressive on guidance these days. And I think to your point, we're trying to be prudent and responsible and put a number out there that we feel confident that we can deliver on. And all things considered, we expect gross retention, net retention rates to be -- continue to be world class because I think this team is doing a really good job especially in this market.

是的。麥克，馬克在這裡。我會嘗試一下。聽著，他們現在不會因為積極提供指導而頒發任何徽章。我認為就你的觀點而言，我們正在努力保持謹慎和負責任的態度，並提出一個我們有信心能夠實現的數字。考慮到所有因素，我們預計總保留率和淨保留率將繼續保持世界一流，因為我認為這個團隊做得非常好，尤其是在這個市場上。

In terms of the Q2 deals, we identified more than 10 deals -- in and around 10 deals that were not attached to a renewal. I'd say about half of those came in in Q3, not necessarily massive deals. Some came in a little higher, some came in a little lower. And the remaining deals are deals that we're still working on. I'll tell you, none of these deals were impacted by any competition, anything like that, just mostly by customers' appetite for spending priorities in quarter.

就第二季的交易而言，我們確定了超過 10 筆交易——其中 10 筆左右的交易不附帶續約。我想說其中大約一半是在第三季達成的，不一定是大規模交易。有些排名高一些，有些排名低一些。其餘交易是我們仍在處理的交易。我會告訴你，這些交易都沒有受到任何競爭或類似情況的影響，主要是受到客戶對本季支出優先事項的興趣的影響。

Got it. And if I could just -- I know you guys are highlighting the more than doubling of the ELA sold this quarter, at least year-on-year. Just wanted to make sure I'm thinking about that properly, but the composition of that more than doubling, is all that -- or what's the breakdown between selling of those ELAs between existing customers versus new customers who are coming to Alteryx and just immediately going for the ELA?

知道了。如果可以的話，我知道你們都在強調本季 ELA 銷量增加了一倍多，至少比去年同期增加了一倍多。只是想確保我正確地考慮了這一點，但其組成超過一倍，就是這樣——或者現有客戶與立即來到 Alteryx 的新客戶之間銷售這些 ELA 之間的細分是什麼去 ELA 嗎？

Sure, Mike. I'll take that. The ELA is very attractive for existing customers in particular because you can imagine the journey that those customers are on with us as they add on more departments, more team and they show interest in the full functionality of the platform. So a lot of it is with existing customers. It's not impossible to land a new customer with an enterprise license agreement, but probably not the first thing that we would try to do with a net new logo.

當然，麥克。我會接受的。 ELA 對現有客戶非常有吸引力，尤其是因為您可以想像這些客戶與我們一起經歷的旅程，因為他們增加了更多部門、更多團隊，並且他們對平台的全部功能表現出興趣。所以很多都是跟現有客戶有關。透過企業授權協議吸引新客戶並非不可能，但這可能不是我們嘗試使用新商標做的第一件事。

Our next question is from Joel Fishbein with Truist Securities.

我們的下一個問題來自 Truist Securities 的 Joel Fishbein。

Congrats on the great execution. I guess one for Paula and one for whoever else wants to answer this one. Paula, in terms of the go-to-market, is there going to be changes to sales incentives? And I heard that there were some changes to your partner incentives and just seeing how you're getting traction there? And then the second question is basically, a lot of people are talking about AI initiatives. You guys obviously have a lot of products around AI. I'm curious about if you can just give us some specifics around are you able to monetize the AI?

恭喜您的出色執行。我想一個是給寶拉的，另一個是給其他想回答這個問題的人的。 Paula，就進入市場而言，銷售激勵措施是否會改變？我聽說你們的合作夥伴激勵措施發生了一些變化，只是看看你們如何在那裡獲得吸引力？第二個問題基本上是，很多人都在談論人工智慧計畫。你們顯然有很多圍繞人工智慧的產品。我很好奇您能否給我們一些具體訊息，您是否能夠透過人工智慧貨幣化？

Thanks, Joel. I'll take the first two, and then Suresh can talk about our innovation. So relative to sales comps as we go into '24, we will take a look at all the levers like we do in any annual planning process to see what might make sense. I don't think any of it is going to be massively different from what we've got in place today. Relative to our partner program, we're always benchmarking ourselves against industry standards and looking to ensure that we are as aligned with our partners in terms of where we want them focused and where the opportunity exists, which is what you've seen us make some moves on in recent quarters, and we'll always see that to just make sure that we have really close alignment with our partner community.

謝謝，喬爾。我將討論前兩個，然後 Suresh 可以談論我們的創新。因此，相對於進入 24 世紀的銷售比較，我們將像在任何年度計劃流程中所做的那樣，審視所有槓桿，看看什麼可能有意義。我認為其中任何一個都不會與我們今天所採取的有很大不同。相對於我們的合作夥伴計劃，我們始終根據行業標準來衡量自己，並尋求確保我們與合作夥伴在我們希望他們關注的領域和存在機會的領域保持一致，這就是您所看到的我們所做的最近幾季發生了一些變化，我們將始終看到這一點，以確保我們與合作夥伴社群真正保持密切一致。

On the AI front, our focus is on finding innovative ways to create value and widen our competitive moats for the use of our products. So as we kind of embarked on the generative AI journey, you saw us release capabilities like Magic Documents, Workflow Summary and more recently, Playbooks, which just allows our customers and our users to get jump-started on these analytics use cases based on the industry and based on the roles. We are also working on new offerings that are in private previews with dozens of customers, like AI Studio and Multimodal, and we see opportunities to monetize these initiatives independently.

在人工智慧方面，我們的重點是尋找創新方法來創造價值並擴大我們產品使用的競爭護城河。因此，當我們踏上生成式人工智慧之旅時，您會看到我們發布了 Magic Documents、工作流程摘要以及最近的 Playbooks 等功能，這些功能使我們的客戶和用戶能夠根據行業並基於角色。我們也致力於與數十位客戶進行私人預覽的新產品，例如 AI Studio 和 Multimodal，並且我們看到了獨立透過這些措施獲利的機會。

And what our customers are telling us, Joel, is in terms of broad-based adoption for generative AI, I think the preference is to do it in curated like bite-sized chunks like we're offering in their existing stack where it can really help them be more productive -- in our case, to build better workflows and do it faster. And so far, the reception has been great. So I really take my hat off to the R&D team around the world. They've been working really hard on this, and I think the results speak for themselves.

喬爾，我們的客戶告訴我們的是，就生成式人工智慧的廣泛採用而言，我認為首選是像我們在他們現有的堆疊中提供的那樣，以精心策劃的方式進行，這樣它就可以真正實現幫助他們提高工作效率——在我們的例子中，是建立更好的工作流程並更快地完成工作。到目前為止，反應非常好。所以我真的要向世界各地的研發團隊致敬。他們在這方面一直非常努力，我認為結果不言而喻。

Our next question is from Brent Bracelin with Piper Sandler.

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

Maybe one for Mark or Paula here. I wanted to go back to the external demand environment. Clearly, doing a lot better here on internal execution, great to see. But if I look at net new ARR, we're kind of 3 quarters in where net new ARR is below the 4-year quarterly average, the guide implies another environment where it's below the quarterly average. Is the optimism here for Q4 tied to just improving execution? Or are you seeing any sort of signs that maybe the external environment is getting better?

也許是給馬克或寶拉的。我想回到外在需求環境。顯然，我們在內部執行方面做得更好，很高興看到。但如果我看一下淨新 ARR，我們有 3 個季度的淨新 ARR 低於 4 年季度平均水平，該指南暗示了低於季度平均水平的另一種環境。第四季的樂觀情緒是否與提升執行力有關？或者您看到任何外部環境正在好轉的跡象？

Brent, thanks for the question. Yes. I think we've assumed that the environment kind of stays the same, if you will. Our confidence is in the fact that it's Q4, the fact that I think we've got a really good team prosecuting opportunities that they've been working on for the better part of the year. And just seeing the execution improvements that we saw in Q3, we certainly feel those are going to be spilling over into Q4. That said, it's not necessarily an easy space out there these days with customers being very disciplined about where they're spending. And I'm really thankful that Paula's kind of executive-led motion is really deeply rooted now in our sales motion.

布倫特，謝謝你的提問。是的。如果你願意的話，我認為我們已經假設環境保持不變。我們的信心在於，現在是第四季度，我認為我們擁有一支非常優秀的團隊，他們在今年的大部分時間都在努力抓住機會。光是看到我們在第三季看到的執行改進，我們當然覺得這些將蔓延到第四季。也就是說，如今這並不一定是一個容易的領域，因為客戶對他們的消費地點非常嚴格。我真的很感激保拉這種由高階主管主導的動議現在已經深深紮根於我們的銷售動議中。

Great to see. And Kevin, obviously, seeing really good cost controls, driving up margins higher here. I guess the next question is, when do those higher margins turn to higher free cash flow? Historically, free cash flow margins were well below op margins. But that was when this was a much faster-growing business. Do you think those could converge next year as you think about more modest growth and op margins and free cash flow margins could start to narrow?

很高興看到。顯然，凱文看到了非常好的成本控制，從而提高了利潤率。我想下一個問題是，這些更高的利潤何時會轉化為更高的自由現金流？從歷史上看，自由現金流利潤率遠低於營運利潤率。但那時這是一項成長速度更快的業務。當您考慮更溫和的成長和營運利潤率以及自由現金流利潤率可能開始收窄時，您認為這些明年可能會趨同嗎？

Yes. Thanks, Brent. Appreciate it. As you may recall, the long-term model has free cash flow margin about 5 points below our op margin from a long-term perspective. As we get a lot of the onetime cost initiatives behind us, I would expect those to converge and we'll provide more color on the next call relative to 2024 expectations, but keep in mind, some of the cost initiatives that we've taken this year do have a trailing cost -- a cash impact. Thanks, Brent.

是的。謝謝，布倫特。欣賞它。您可能還記得，從長期角度來看，長期模式的自由現金流利潤率比我們的營運利潤率低約 5 個百分點。隨著我們實施了許多一次性成本計劃，我預計這些計劃會趨於一致，並且我們將在下一次電話會議上提供相對於2024 年預期的更多信息，但請記住，我們已經採取的一些成本該計劃今年確實有一個追蹤成本——現金影響。謝謝，布倫特。

Our next question is from Michael Turits with KeyBanc Capital Markets.

我們的下一個問題來自 KeyBanc Capital Markets 的 Michael Turits。

Congrats on stabilization and solid execution, all great to see. So two demand questions. One on cloud, one on AI. I guess, on cloud, cloud Designer seems quite strong and mature as a product now. And this is a time when we've seen stabilization in the growth rates of some of the hyperscalers. Are those two things coming together in a sort of positive way in the sense that you've got the right product right at the time that there seems to be a stabilization of demand on the cloud side?

恭喜穩定和紮實的執行力，一切都很高興看到。所以有兩個需求問題。一種在雲端上，一種在人工智慧上。我想，在雲端上，cloud Designer作為一個產品現在看起來已經相當強大和成熟了。此時我們看到一些超大規模企業的成長率趨於穩定。這兩件事是否以一種積極的方式結合在一起，即在雲端方面的需求似乎穩定的時候，您就擁有了正確的產品？

Yes. I mean we're about 3 quarter of selling our cloud products and cloud solutions. The interest from our customers remains strong. There's a lot of appetite for expansion-based use cases around the cloud solutions. But having done this journey a couple of times before, it takes multiple years for our customers to kind of embrace the cloud products and the cloud solutions. They have a significant test stage with the on-premise products. They've got a lot of intellectual property built into these analytical workflows and apps. And so we feel very comfortable that we've chosen an and strategy. They get access to our innovation wherever they want it.

是的。我的意思是，我們的雲端產品和雲端解決方案的銷售量大約有四分之一。我們客戶的興趣依然濃厚。人們對圍繞雲端解決方案的基於擴展的用例有很大的興趣。但之前已經經歷過幾次這樣的旅程，我們的客戶需要多年的時間才能接受雲端產品和雲端解決方案。他們對本地產品進行了重要的測試階段。他們在這些分析工作流程和應用程式中內建了許多智慧財產權。因此，我們對選擇的策略感到非常滿意。他們可以隨時隨地獲得我們的創新成果。

We don't kind of hold them back on any access to any innovation. There's no limits to that access. If they want to consume this innovation in Google or in AWS or in Amazon, in Azure, we want to give them the ability to do that. If they want to work in Snowflake or Databricks or BigQuery, we want to give them the ability to do that. And that was kind of really the intent of the investments we made over the past 18 months in cloud has been really strengthening our platform. We believe at the heart of this thing, Mark said it before, there will be a couple of independent platforms that win and capture market share, and we know this is a multiyear journey. So we're super happy with the interest our customers are showing and how we're delivering against that.

我們不會阻止他們獲得任何創新。該訪問沒有限制。如果他們想利用Google、AWS、亞馬遜、Azure 的這種創新，我們希望讓他們有能力做到這一點。如果他們想在 Snowflake、Databricks 或 BigQuery 中工作，我們希望讓他們有能力做到這一點。這就是我們過去 18 個月在雲端領域進行投資的真正目的，真正加強了我們的平台。馬克之前說過，我們相信這件事的核心是，將會有幾個獨立平台贏得並佔領市場份額，我們知道這是一個多年的旅程。因此，我們對客戶表現出的興趣以及我們如何應對這一點感到非常滿意。

Yes. And Michael, I think in terms of revenue contribution, it feels to me like it's a bit more like a rolling thunder kind of a mentality. I think people in the past, I've read a few comments where people said, hey, we haven't really printed a lot of revenue with cloud. It's like that's because the milestones for success that we've had internally have all been to knit together the back end of the Trifacta acquisition with basically a rewrite of the front ends of all of our applications in all three public cloud environments. And so that's a lot of work. And I think I take offense to the fact that when I know you haven't, but others have said, "Hey, we haven't been successful." We really have. And our all hands meeting is tomorrow, and I'm going to be sure to recognize the work that the R&D team has done to -- it's not -- hasn't been the sort of the sexy headlines that have dollar signs ahead of them, but those will come.

是的。邁克爾，我認為就收入貢獻而言，我覺得這更像是一種滾滾雷霆的心態。我認為過去的人們，我讀過一些評論，人們說，嘿，我們並沒有真正透過雲端列印大量收入。這是因為我們內部取得的成功里程碑都是將 Trifacta 收購的後端與基本上重寫所有三個公有雲環境中所有應用程式的前端結合在一起。所以這需要大量的工作。我認為我對這樣一個事實感到生氣：當我知道你沒有成功時，但其他人卻說：“嘿，我們還沒有成功。”我們確實有。我們的全體會議就在明天，我一定會意識到研發團隊所做的工作——它不是——並不是那種前面有美元符號的性感頭條新聞，但那些會來的。

Our next question is from Ittai Kidron with Oppenheimer.

我們的下一個問題來自 Ittai Kidron 和 Oppenheimer。

Maybe first question to Mark or maybe Paula, you had some execution issues through the year, and it's nice to see things are getting better. I guess my question is, every time you go through a process like this, there's some low-hanging fruit and then there's things that take longer and harder to execute on. So maybe you can talk about some of the longer and harder things that you still are working on here and now to continue to improve sales execution.

也許第一個問題是問馬克或保拉，這一年你遇到了一些執行問題，很高興看到事情變得更好。我想我的問題是，每次你經歷這樣的過程時，都會有一些容易實現的成果，然後還有一些需要更長、更難執行的事情。因此，也許您可以談談您現在仍在處理的一些更長期、更困難的事情，以繼續提高銷售執行力。

Yes. I'll start off, Ittai, if you don't mind. I appreciate the question, then I'll pass it off to Paula. I would submit -- listen, this business has almost doubled in the last 3 years, and we're a very different company today. That's because that's what our customers are demanding. And I think you have to careful what you wish for. If you want to be bigger, all the things that come along with that really are in what customers expect from you and that often requires different resources, different competencies, different experience sets. And so I would submit that as you're assaulting this massive total addressable market that we have, regardless of whether it's good economic times or bad, you're always tinkering. You're always ensuring that we're tinkering with the enablement to make sure that the great people that we have here today are learning the kinds of things that are going to help them be really relevant to our customers in the future. And sometimes that involves headcount changes.

是的。如果你不介意的話，我就開始了，Ittai。我很欣賞這個問題，然後我會把它轉給寶拉。我想說——聽著，這個業務在過去三年幾乎翻了一番，今天我們是一家非常不同的公司。那是因為這就是我們的客戶的要求。我認為你必須小心你的願望。如果你想做得更大，隨之而來的所有事情實際上都符合客戶對你的期望，這通常需要不同的資源、不同的能力、不同的經驗集。因此，我認為，當你攻擊我們擁有的這個巨大的整體潛在市場時，無論經濟狀況好壞，你總是在修補。您始終確保我們正在完善相關支持，以確保我們今天在這裡的優秀人才能夠學習到有助於他們在未來與我們的客戶真正相關的知識。有時這涉及到員工人數的變化。

We certainly made a couple of senior leadership changes in the last few quarters. And these people were very good people that did some good things here for us, but we really needed people that brought a different set of competencies and experiences to the table. And I think that's always on the surface the hard thing to do. But I can assure you, Paula and her team are always tinkering.

在過去的幾個季度中，我們確實做出了一些高層領導層的變動。這些人都是非常優秀的人，為我們做了一些好事，但我們確實需要能夠帶來不同能力和經驗的人。我認為這從表面上看總是很難做到的。但我可以向你保證，寶拉和她的團隊總是在修補。

That's right, Mark. And I'll add, Ittai, a little bit more, which is that as we look to scale the business efficiently, the opportunity ahead is to take what we are doing ourselves, what we demonstrated with the execution in Q3 and federate that out across the rest of the G2K, the other 51% and with and through our partner ecosystem. So I look at it as an opportunity for us to take what we've done and are delivering and continue to drive scale and efficiency as we go forward.

沒錯，馬克。我還要補充一點，Ittai，當我們希望有效擴展業務時，未來的機會是利用我們自己正在做的事情，我們在第三季度的執行中所展示的內容，並將其聯合起來其餘的G2K，另外51% 以及透過我們的合作夥伴生態系統。因此，我認為這是一個機會，讓我們能夠利用我們已經完成的工作和正在交付的成果，並在前進的過程中繼續推動規模和效率。

Appreciate it. And Kevin, maybe a follow-up for you. You're not providing '24 guide, that's fine. I guess you already alluded to improvement in margins that we should expect next year. But are there any other bogeys or things you'd like us to take into account as we think about the progression of the year in '24 that we should be considering? Appreciate any color there.

欣賞它。凱文，也許是你的後續行動。您不提供 '24 指南，沒關係。我想您已經提到了我們明年應該預期的利潤率改善。但是，當我們考慮 24 年的進展時，您是否希望我們考慮其他任何柏忌或事情？欣賞那裡的任何顏色。

Yes. Thanks, Ittai. Appreciate the question. Look, we're obviously not providing 2024 guidance on this call, we'll do it on the Q4 call. However, look, we're mindful of the macro and it takes time to continue to improve from an execution perspective as we've talked about. So as you guys are thinking about 2024, you have our Q4 guidance and implied growth rates by way of example. And so I think that does give you a sense of how we're baselining growth in this environment. So anyway, I appreciate the question.

是的。謝謝，伊泰。感謝這個問題。看，我們顯然不會在這次電話會議上提供 2024 年指導，我們將在第四季度電話會議上提供。然而，我們注意到宏觀，正如我們所討論的，從執行角度繼續改進需要時間。因此，當您考慮 2024 年時，您可以參考我們的第四季度指引和隱含成長率。因此，我認為這確實讓您了解我們如何在這種環境中建立成長基準。無論如何，我很欣賞這個問題。

Our next question is from Pinjalim Bora with JPMorgan.

我們的下一個問題來自摩根大通的 Pinjalim Bora。

Just one question for me. Any feedback so far on the TD and Multimodal? And more importantly, I'm trying to understand as you think about Gen AI capabilities, how much of these are or will be folded namely in the Designer cloud/Auto Insights, trying to understand the bigger base of desktop customers, will they be able to take advantage of the AI capabilities or they have to move to cloud?

只是問我一個問題。到目前為止，有關於 TD 和多式聯運的反饋嗎？更重要的是，當您考慮 Gen AI 功能時，我試圖了解其中有多少功能已經或將折疊在 Designer 雲端/自動洞察中，試圖了解更大的桌面客戶群，他們是否能夠利用人工智慧功能還是必須遷移到雲端？

Yes. Thank you, Pinjalim, for that question. Directly answering your question, the -- all of our innovation is aimed at, particularly in the Gen AI space, is aimed at being available to our customers wherever they are. So we have a couple of dozen customers in the desktop world with Designer using generative AI, both the multimodal capabilities, which allows you to build workflows through chat, have a data engineer work on the same workflow through SQL and have a data scientist look at it through the lens of Python or a Jupyter Notebook. That capability set will be available to our customers in our desktop products and in our cloud products. But given the amount of data and the telemetry and the workflow patterns that we see in the desktop, clearly, the desktop customer community will benefit from this cloud service of being able to do multimodal analytics and really collaborate.

是的。謝謝 Pinjalim 提出這個問題。直接回答你的問題，我們所有的創新，特別是在 Gen AI 領域，都是為了讓我們的客戶無論身在何處都可以使用。因此，我們在桌面世界中有幾十個客戶，他們的設計器使用生成式人工智慧，這兩種多模式功能都允許您透過聊天建立工作流程，讓資料工程師透過SQL 處理相同的工作流程，並讓資料科學家查看透過 Python 或 Jupyter Notebook 的鏡頭。此功能集將在我們的桌面產品和雲端產品中提供給我們的客戶。但考慮到我們在桌面中看到的資料量、遙測和工作流程模式，顯然，桌面客戶社群將受益於這種能夠進行多模式分析和真正協作的雲端服務。

Similarly, when we look at AI Studio, the ability for our customers to -- it's a large pain point our customers have, where they're being pressed for insights and the core strength that Alteryx provides is this wealth of workflows that we create on behalf of our customers, with our partners and Alteryx itself. At this point in time, it's millions of analytical building blocks. And we feel this unique kind of collection of data is ideal to train generative models to produce personalized results for every customer. So AI Studio is aimed at helping the analysts create custom-tuned LLMs directly into their analytics landscape, whether it's a Designer cloud or Designer desktop.

同樣，當我們考慮AI Studio 時，我們的客戶的能力是——這是我們客戶面臨的一個很大的痛點，他們被迫尋求見解，而Alteryx 提供的核心優勢是我們在其上創建的豐富的工作流程代表我們的客戶、我們的合作夥伴以及 Alteryx 本身。此時，它是數百萬個分析構建塊。我們認為這種獨特的資料收集非常適合訓練生成模型，為每位客戶產生個人化結果。因此，AI Studio 旨在幫助分析師直接在其分析環境中建立客製化調整的 LLM，無論是 Designer 雲端還是 Designer 桌面。

Thank you. There are no further questions at this time. I would like to turn the floor back over to Mark Anderson for closing comments.

謝謝。目前沒有其他問題。我想把發言權交還給馬克·安德森（Mark Anderson）以供結束評論。

Thank you, operator. And I'd like to say thank you again to our customers, partners, shareholders and especially our team here at Alteryx. We're pleased with the progress and execution we demonstrated in Q3 and are working hard to close out the year with solid momentum. Our unique platform of easy-to-use analytics and automation solutions continues to resonate with our customers, and we are reinforcing our differentiated market position with a breadth of new generative AI and machine learning capabilities. Thank you, and have a good night.

謝謝你，接線生。我想再次向我們的客戶、合作夥伴、股東，尤其是 Alteryx 的團隊表示感謝。我們對第三季所取得的進展和執行力感到滿意，並正在努力以強勁的勢頭結束這一年。我們獨特的易於使用的分析和自動化解決方案平台繼續引起客戶的共鳴，我們正在透過廣泛的新生成人工智慧和機器學習功能來鞏固我們的差異化市場地位。謝謝你，祝你有個美好的夜晚。

This concludes today's conference. You may disconnect your lines at this time. Thank you for your participation.

今天的會議到此結束。此時您可以斷開線路。感謝您的參與。