Confluent Inc (CFLT) 2022 Q2 法說會逐字稿

Hi, everyone. Welcome to the Confluent Q2 2022 Earnings Conference Call. I'm Shane Xie from Investor Relations. And I'm joined by Jay Kreps, Co-Founder and CEO; and Steffan Tomlinson, CFO.

大家好。歡迎參加 Confluent 2022 年第二季度收益電話會議。我是投資者關係部的謝恩。聯合創始人兼首席執行官 Jay Kreps 也加入了我的行列；和首席財務官 Steffan Tomlinson。

During today's call, management will make forward-looking statements regarding our business, operations, financial performance and future prospects, including statements regarding our financial outlook for the fiscal third quarter of 2022 and fiscal year 2022. These forward statements are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated by these statements.

在今天的電話會議中，管理層將對我們的業務、運營、財務業績和未來前景作出前瞻性陳述，包括關於我們 2022 財年第三季度和 2022 財年財務前景的陳述。這些前瞻性陳述受到風險和不確定性的影響，這可能導致實際結果與這些陳述的預期結果大不相同。

Further information on risk factors that could cause actual results to differ is included in our most recent Form 10-Q filed with the SEC. We assume no obligation to update these statements after today's call, except as required by law.

有關可能導致實際結果不同的風險因素的更多信息包含在我們最近提交給 SEC 的 10-Q 表格中。除法律要求外，我們不承擔在今天電話會議後更新這些聲明的義務。

As a reminder, certain financial measures used on today's call are expressed on a non-GAAP basis. We use these non-GAAP financial measures internally to facility analysis of our financial and business trends and for internal planning and forecasting purposes. These non-GAAP financial measures have limitations and should not be considered in isolation from or as a substitute for financial information prepared in accordance with GAAP. A reconciliation between these GAAP and non-GAAP financial measures is included in our earnings press release and supplemental financials, which can be found on our Investor Relations website at investors.confluent.io.

提醒一下，今天電話會議中使用的某些財務指標是在非公認會計原則的基礎上表達的。我們在內部使用這些非公認會計原則財務措施來分析我們的財務和業務趨勢，並用於內部規劃和預測目的。這些非公認會計原則財務措施有局限性，不應孤立地考慮或替代根據公認會計原則編制的財務信息。這些 GAAP 和非 GAAP 財務指標之間的對賬包含在我們的收益新聞稿和補充財務報告中，可在我們的投資者關係網站 Investors.confluent.io 上找到。

With that, I'll hand the call over to Jay.

有了這個，我會把電話交給傑。

Thanks, Shane. Welcome, everyone, to our second quarter earnings call. Confluent delivered another strong quarter, exceeding the high end of our guidance on all metrics. Total revenue grew 58% year-over-year to $139 million. Confluent Cloud revenue grew 139% year-over-year and represented 34% of total revenue in the quarter.

謝謝，謝恩。歡迎大家參加我們的第二季度財報電話會議。 Confluent 實現了又一個強勁的季度，超過了我們在所有指標上的指導上限。總收入同比增長 58% 至 1.39 億美元。 Confluent Cloud 收入同比增長 139%，佔本季度總收入的 34%。

Confluent Cloud continues to increase as an overall mix of our business and is seeing rapid adoption across our customer base as reflected by strong consumption trends. We're especially proud of our performance given the uncertain macro environment we're currently operating in.

Confluent Cloud 作為我們業務的整體組合繼續增長，並在我們的客戶群中迅速採用，這反映在強勁的消費趨勢中。鑑於我們目前所處的宏觀環境不確定，我們對我們的表現感到特別自豪。

I'll start by touching briefly on this topic, why Confluent continues to see strong demand despite economic headwinds? There are 2 reasons for this durability: First, our product sits in the operational stack, powering applications that directly serve critical business operations and real-time customer experiences. Given this criticality, it can't be switched off without a complete disruption to the operations of the business.

我將首先簡要介紹一下這個話題，為什麼儘管經濟逆風，Confluent 的需求仍然強勁？這種持久性有兩個原因：首先，我們的產品位於運營堆棧中，為直接服務於關鍵業務運營和實時客戶體驗的應用程序提供支持。鑑於這種重要性，如果不完全中斷業務運營，就無法關閉它。

Our 2022 state of data in motion report underscores this, finding that of the nearly 2,000 IT and engineering leaders surveyed, more than 80% said real-time data streams are critical to building responsive business processes and rich customer experiences.

我們的 2022 年動態數據狀態報告強調了這一點，發現在接受調查的近 2,000 名 IT 和工程領導者中，超過 80% 的人表示實時數據流對於構建響應式業務流程和豐富的客戶體驗至關重要。

Second, one of the key value propositions of a managed cloud service such as Confluent Cloud is cost savings. Using Confluent Cloud has significant TCO advantages compared to trying to build out internal teams of engineers to attempt to build internal services around open source.

其次，Confluent Cloud 等託管雲服務的關鍵價值主張之一是節省成本。與嘗試建立內部工程師團隊以嘗試圍繞開源構建內部服務相比，使用 Confluent Cloud 具有顯著的 TCO 優勢。

SAS Institute is a customer that perfectly illustrates these dynamics. SAS is a marketing analytics powerhouse helping more than 80,000 businesses like Discover, Honda, Levi's and Nestle transform data into real-world intelligence, making their marketing campaigns more targeted, more personal and more relevant.

SAS Institute 是完美展示這些動態的客戶。 SAS 是一家營銷分析巨頭，幫助 Discover、Honda、Levi's 和雀巢等 80,000 多家企業將數據轉化為現實世界的情報，使他們的營銷活動更有針對性、更個性化和更相關。

SAS initially built its real-time data platform on open source Kafka, but they soon ran into scalability issues, from self-supporting open source Kafka that made it difficult to adjust to changing demand. Plus, the operational overhead and complexity were driving significant costs.

SAS 最初在開源 Kafka 上構建其實時數據平台，但他們很快就遇到了可擴展性問題，因為自支持開源 Kafka 很難適應不斷變化的需求。此外，運營開銷和復雜性導致了巨大的成本。

So SAS turned to Confluent for a complete data streaming platform that scales both compute and storage on demand even amid unpredictable ebbs and flows of traffic. With Confluent now as the backbone of their next-generation Customer Intelligence 360 platform, SAS can easily stitch together data from multiple sources to find and act on fresh and timely insights for their customers.

因此，SAS 轉向 Confluent 尋求一個完整的數據流平台，即使在不可預測的流量潮起潮落中也能按需擴展計算和存儲。現在，將 Confluent 作為其下一代 Customer Intelligence 360 平台的支柱，SAS 可以輕鬆地將來自多個來源的數據整合在一起，以便為他們的客戶找到並及時採取新的見解。

Key to this ability to serve mission-critical use cases and to help customers recognize the cost and agility advantages I described are the underlying capabilities that Confluent Cloud provides. Kafka has become ubiquitous and is the de facto standard for data in motion used by over 70% of the Fortune 500.

Confluent Cloud 提供的基礎功能是服務關鍵任務用例和幫助客戶認識到成本和敏捷性優勢的關鍵。 Kafka 已經無處不在，並且是超過 70% 的財富 500 強企業使用的動態數據的事實上的標準。

But Confluent Cloud is not just a matter of putting Kafka in the cloud. In building Confluent Cloud, we rethought virtually every layer of the stack from how data is routed over the network, how it is processed, where it is placed and how it is stored. This deep engineering investment is necessary to provide a truly cloud-native service that can meet the needs of the most mission-critical use cases and can help customers truly step back from the operations of the service and focus on their applications.

但 Confluent Cloud 不僅僅是將 Kafka 放入雲端的問題。在構建 Confluent Cloud 時，我們幾乎重新考慮了堆棧的每一層，包括數據在網絡上的路由、處理方式、放置位置以及存儲方式。這種深度工程投資對於提供真正的雲原生服務是必要的，該服務可以滿足最關鍵任務用例的需求，並可以幫助客戶真正退出服務運營並專注於他們的應用程序。

To achieve this, over the last 5 years, we've poured more than 3 million engineering hours into Confluent Cloud. Today, it represents a 10x better Kafka service with a deep competitive moat of hard technology. By making a service that is 10x better than open source Kafka, Confluent lets organizations avoid investments in low-level operations, monitoring and scaling and be able to instead rely on a service that can scale elastically with their needs.

為了實現這一目標，在過去 5 年中，我們在 Confluent Cloud 中投入了超過 300 萬小時的工程時間。今天，它代表了 10 倍更好的 Kafka 服務，以及具有強大競爭力的硬技術護城河。通過提供比開源 Kafka 好 10 倍的服務，Confluent 讓組織可以避免對低級操作、監控和擴展的投資，而是能夠依賴可以根據他們的需求彈性擴展的服務。

This is what drives the substantial cost savings customers see when they adopt our service. As we shared last quarter, a recent Forrester study identified TCO savings of more than $2.5 million for businesses that use Confluent, translating to an ROI of 257% in less than 6 months.

這就是客戶在採用我們的服務時看到的可觀成本節約的原因。正如我們上個季度所分享的，Forrester 最近的一項研究發現，使用 Confluent 的企業可以節省超過 250 萬美元的 TCO，這意味著在不到 6 個月的時間內實現了 257% 的投資回報率。

Another example that demonstrates both the mission-critical nature of our use case as well as the economic value of Confluent Cloud is ETC. A leading Electronic Toll Collection company. To support next-generation congestion management services, ETC collects real-time sensor input for millions of cars and IoT devices across city transportation corridors, totaling 2 billion toll transactions per year.

另一個展示我們用例的關鍵任務性質以及 Confluent Cloud 的經濟價值的例子是 ETC。領先的電子收費公司。為了支持下一代擁堵管理服務，ETC 為城市交通走廊上的數百萬輛汽車和物聯網設備收集實時傳感器輸入，每年總計 20 億次通行費交易。

By collecting and processing this data continuously and in real time with Kafka, ETC produced the first truly predictive dynamic pricing algorithm in the industry. But as their use of Kafka skyrocketed from onboarding new customers, increased traffic congestion and expanding toll and smart mobility projects, so did their total cost of operating and maintaining open source Kafka.

通過使用 Kafka 連續、實時地收集和處理這些數據，ETC 產生了業內第一個真正具有預測性的動態定價算法。但隨著新客戶的加入、交通擁堵加劇、收費和智能移動項目的擴大，他們對 Kafka 的使用猛增，他們運營和維護開源 Kafka 的總成本也隨之增加。

After conducting an internal TCO analysis, ETC moved to a fully managed Kafka on Confluent Cloud. By making the move to Confluent Cloud, ETC saved an average of 20% on infrastructure costs, significantly reduced their downtime risk and was able to reallocate about 50% of their engineering and development talent that was dedicated to managing Kafka to more strategic projects that accelerate innovation.

在進行內部 TCO 分析後，ETC 遷移到了完全託管的 Kafka on Confluent Cloud。通過遷移到 Confluent Cloud，ETC 平均節省了 20% 的基礎設施成本，顯著降低了停機風險，並且能夠將其 50% 的致力於管理 Kafka 的工程和開發人才重新分配給更具戰略性的項目，從而加速創新。

Our relationship across the software and data landscape remain core to our everywhere pillar of differentiation and are a key part of our go-to-market. We made a few notable announcements on the partnership front that deepened our key partner relationships.

我們在軟件和數據領域的關係仍然是我們無處不在的差異化支柱的核心，也是我們進入市場的關鍵部分。我們在合作夥伴方面發布了一些值得注意的公告，加深了我們的主要合作夥伴關係。

First, we are thrilled to announce the launch of a Confluent cloud reseller program. Organizations can accelerate their adoption of data in motion by purchasing Confluent Cloud directly from the consulting partners they already work with who know their business and can offer localized support.

首先，我們很高興地宣布推出 Confluent 雲經銷商計劃。組織可以通過直接從他們已經合作的諮詢合作夥伴那裡購買 Confluent Cloud 來加速他們對動態數據的採用，這些合作夥伴了解他們的業務並可以提供本地化支持。

To start this program, we expanded our strategic collaboration agreement with AWS by joining their marketplace channel program, consulting partner private offers. Now we can work with 17 leading data streaming partners, including [Slower], Mega Zone and SBA to make it easier for our customers to unlock the full value of data streaming throughout their business.

為了啟動該計劃，我們通過加入 AWS 的市場渠道計劃、諮詢合作夥伴專屬優惠來擴展我們與 AWS 的戰略合作協議。現在，我們可以與包括 [Slower]、Mega Zone 和 SBA 在內的 17 家領先的數據流合作夥伴合作，讓我們的客戶更輕鬆地在整個業務中釋放數據流的全部價值。

This quarter, we were also recognized by both Microsoft and MongoDB as one of their top partners for 2022. We're incredibly proud and thankful for our strong partnerships with cloud service providers and technology partners.

本季度，我們還被微軟和 MongoDB 認定為 2022 年的頂級合作夥伴之一。我們非常自豪和感謝我們與雲服務提供商和技術合作夥伴的牢固合作關係。

I'd also like to spend a few minutes on work we're doing to accelerate usage for customers at the early stages of their data in motion journey. We've previously discussed our customer growth go-to-market model that builds a product-led consumption-oriented journey down the data and motion adoption path.

我還想花幾分鐘時間在我們正在做的工作上，以加速客戶在數據動態旅程的早期階段的使用。我們之前討論過我們的客戶增長進入市場模型，該模型在數據和動作採用路徑中建立了以產品為導向的消費導向之旅。

The early stage of this journey is particularly critical for customer acquisition and for making Confluent Cloud the default starting point for developers. This early stage of adoption often starts with developers experimenting with pilots and proof of concepts or simply learning the new technology.

這一旅程的早期階段對於獲取客戶以及使 Confluent Cloud 成為開發人員的默認起點尤其重要。採用的早期階段通常始於開發人員嘗試試點和概念驗證，或者只是學習新技術。

At this stage, it's critical for the onboarding process to be low friction. So a developer can instantly gain full access to the power of our platform with minimal disruption. To make this process even easier for developers, I'm very pleased that towards the end of our first quarter, we removed the requirement of entering credit card information for the free trial of our product.

在這個階段，低摩擦的入職流程至關重要。因此，開發人員可以立即完全訪問我們平台的強大功能，同時將中斷降至最低。為了讓開發人員的這一過程更加輕鬆，我很高興在第一季度末，我們取消了輸入信用卡信息以免費試用我們的產品的要求。

This paywall removal is a strategic move that aligns well with our customer growth go-to-market model, allowing us to reduce the friction for developers to test our product, to grow usage and progress to the production stage. And we are already seeing strong returns at the top of our funnel, as evidenced by the accelerating growth in Q2 sign-ups, which are up more than 130% year-over-year and up more than 50% sequentially.

取消付費牆是一項戰略舉措，與我們的客戶增長進入市場模式非常吻合，使我們能夠減少開發人員測試我們的產品、增加使用量和進入生產階段的摩擦。我們已經在漏斗頂部看到了強勁的回報，第二季度註冊人數的加速增長就是明證，註冊人數同比增長超過 130%，環比增長超過 50%。

This paywall removal has been incredibly successful in increasing sign-ups, but it has also created some short-term noise in our total customer count metric. Users who would have incurred small amounts of spend had been previously counted as customers in their initial trial phase will now show up as just sign-ups, not paying customers, which impacts our customer count growth in Q2.

這種付費牆的移除在增加註冊人數方面取得了令人難以置信的成功，但它也在我們的總客戶數量指標中產生了一些短期噪音。在最初的試用階段，原本會產生少量支出的用戶現在將僅顯示為註冊客戶，而不是付費客戶，這會影響我們在第二季度的客戶數量增長。

This means that the change has eliminated a large chunk of preproduction customers paying us an average of less than a few hundred dollars per quarter, creating a reset of our pay-as-you-go customer count. Reset of customer count aside, it's unquestionably the right strategy for our business as our customers can now test drive Confluent risk-free. And for us, the reduction in developer risk and friction drives easier land and ultimately more paying customers as the larger cohort of trials leads to sticky production applications that grow and expand at scale.

這意味著這一變化已經消除了大量的預生產客戶，平均每季度向我們支付的費用不到幾百美元，從而重置了我們的現收現付客戶數量。除了重置客戶數量之外，這無疑是我們業務的正確策略，因為我們的客戶現在可以無風險地試駕 Confluent。對我們來說，開發者風險和摩擦的減少推動了土地更容易，最終有更多的付費客戶，因為更大的試驗隊列導致粘性生產應用程序大規模增長和擴展。

And finally, I'd like to share that after a 4-year impactful run at Confluent, Ganesh Srinivasan will be stepping back from his role as Chief Product Officer. I will be acting as interim Chief Product Officer as we search for a new leader. Ganesh, we wish you all the best, and thank you for your many contributions.

最後，我想分享的是，在 Confluent 工作了 4 年之後，Ganesh Srinivasan 將辭去首席產品官的職務。在我們尋找新的領導者時，我將擔任臨時首席產品官。 Ganesh，我們祝您一切順利，並感謝您的許多貢獻。

Thanks again for joining us today. We remain very confident in our market opportunity and positioning headed into the second half of the year. And we look forward to seeing many of you on the road in the coming months including at current, a new data streaming industry event we're hosting in October.

再次感謝您今天加入我們。我們對進入下半年的市場機會和定位仍然非常有信心。我們期待在接下來的幾個月裡見到你們中的許多人，包括目前，我們將於 10 月舉辦的一項新的數據流媒體行業活動。

With that, I'll turn the call over to Steffan to walk through the financials.

有了這個，我會把電話轉給 Steffan 來看看財務狀況。

Thanks, Jay. We delivered a strong second quarter, exceeding the high end of our guidance for the fourth consecutive quarter. Key highlights include strong Confluent Cloud growth, best-in-class net retention and significant margin improvements, which are a testament to the team's performance.

謝謝，傑。我們第二季度表現強勁，連續第四個季度超過了我們指導的高端。主要亮點包括強勁的 Confluent Cloud 增長、一流的淨留存率和顯著提高的利潤率，這些都證明了團隊的表現。

RPO in the second quarter grew 81% year-over-year to $591.3 million. Current RPO estimated to be 62% of RPO was approximately $364 million, up 62% year-over-year.

第二季度的 RPO 同比增長 81% 至 5.913 億美元。目前的 RPO 估計佔 RPO 的 62%，約為 3.64 億美元，同比增長 62%。

Total revenue grew 58% year-over-year to $139.4 million. Subscription revenue grew 62% year-over-year to $127 million and accounted for 91% of total revenue. Within subscription, Confluent platform revenue was $80 million, up 36% year-over-year and accounted for 57% of total revenue.

總收入同比增長 58% 至 1.394 億美元。訂閱收入同比增長 62% 至 1.27 億美元，佔總收入的 91%。在訂閱方面，Confluent 平台收入為 8000 萬美元，同比增長 36%，佔總收入的 57%。

With Confluent platform, we're positioned to address the broader opportunity around hybrid cloud where customers bridge between on-prem and multi-cloud environments using Confluent platform and adding Confluent Cloud over time.

借助 Confluent 平台，我們定位於解決圍繞混合雲的更廣泛機會，客戶使用 Confluent 平台在本地和多雲環境之間架起一座橋樑，並隨著時間的推移添加 Confluent Cloud。

Confluent platform subscription model also adds more visibility to our revenue streams. Confluent Cloud revenue in the quarter exceeded our expectations, up $8.1 million sequentially, representing our largest net revenue growth to date. On a year-over-year basis, Cloud revenue grew 139% to $47 million and accounted for 34% of total revenue compared to 22% of revenue a year ago.

Confluent 平台訂閱模式還為我們的收入流增加了更多可見性。本季度 Confluent Cloud 收入超出我們的預期，環比增長 810 萬美元，是我們迄今為止最大的淨收入增長。與去年同期相比，雲收入增長 139% 至 4700 萬美元，佔總收入的 34%，而一年前為 22%。

And for the third consecutive quarter, Confluent Cloud accounted for more than 50% of new ACV bookings. Our strong cloud performance was driven by healthy consumption across industries with particular strength in technology and financial services.

Confluent Cloud 連續第三個季度佔新 ACV 預訂量的 50% 以上。我們強勁的雲表現受到各行業健康消費的推動，尤其是在技術和金融服務方面具有特殊優勢。

Turning to the geographic mix of revenue. Revenue from the U.S. grew 54% year-over-year to $87.6 million. Revenue from outside the U.S. grew 64% year-over-year to $51.9 million.

轉向收入的地理組合。來自美國的收入同比增長 54% 至 8760 萬美元。來自美國以外的收入同比增長 64% 至 5190 萬美元。

Turning to customers. The growth in our large customer base continue to be robust. We ended the quarter with 857 customers with at least $100,000 in ARR, up 39% year-over-year and 107 customers with at least $1 million in ARR, up 53% year-over-year. Our $100,000 customer cohort contributed more than 85% of total revenue in the quarter, in line with historical trends.

轉向客戶。我們龐大的客戶群繼續保持強勁增長。在本季度末，我們有 857 名客戶的 ARR 至少為 100,000 美元，同比增長 39%，107 名客戶的 ARR 至少為 100 萬美元，同比增長 53%。我們 100,000 美元的客戶群體在本季度貢獻了超過 85% 的總收入，與歷史趨勢一致。

Our diversified customer base spans across various industries, including financial services, technology, retail, telecom, public sector, health care, media and entertainment and many more. Total customers ended at approximately 4,120, up 46% year-over-year and flat sequentially. There are 2 components of total customer count: pay-as-you-go and committed contract customers.

我們多元化的客戶群跨越各個行業，包括金融服務、技術、零售、電信、公共部門、醫療保健、媒體和娛樂等等。總客戶數約為 4,120，同比增長 46%，環比持平。客戶總數有 2 個組成部分：現收現付客戶和承諾的合同客戶。

As Jay discussed earlier, paywall removal has driven strong growth acceleration in sign-ups, which is a key indicator for the overall health of our customer funnel, and it's a testament to the strong demand for our cloud product. While paywall removal had a short-term impact on the number of pay-as-you-go customers in our total customer count, we're very pleased to see the continued momentum in our committed customer base.

正如 Jay 之前所討論的，付費牆的移除推動了註冊量的強勁增長，這是我們客戶漏斗整體健康狀況的一個關鍵指標，也證明了對我們雲產品的強勁需求。雖然取消付費專區對我們總客戶數量中的現收現付客戶數量產生了短期影響，但我們很高興看到我們忠誠的客戶群的持續發展勢頭。

We added 128 net new committed customers in Q2 compared to 113 in the previous quarter and 80 a year ago. The vast majority of our revenue is attributed to our committed customers, which provides a high degree of visibility into our revenue in any given quarter.

我們在第二季度新增了 128 個淨新承諾客戶，而上一季度為 113 個，一年前為 80 個。我們的絕大部分收入歸功於我們忠誠的客戶，這為我們在任何給定季度的收入提供了高度可見性。

Dollar-based net retention rate in the quarter remained above 130% for the fifth consecutive quarter driven by 90%-plus gross retention and strong expansion across both of our product offerings. NRR for cloud was substantially higher than the overall NRR for the company, and NRR for hybrid customers continue to be the highest.

本季度以美元為基礎的淨留存率連續第五個季度保持在 130% 以上，這得益於 90% 以上的總留存率和我們兩種產品的強勁擴張。雲的 NRR 遠高於公司的整體 NRR，混合客戶的 NRR 繼續最高。

Moving on to gross margins and profitability. I'd like to note that I'll be referring to non-GAAP results unless stated otherwise. Total gross margin was 70.6% and subscription gross margin was 76.8%. Our platform gross margin remained steady and strong.

繼續關注毛利率和盈利能力。我想指出，除非另有說明，否則我將指的是非公認會計原則的結果。總毛利率為 70.6%，認購毛利率為 76.8%。我們的平台毛利率保持穩定和強勁。

Our cloud gross margin improved substantially driven by our continued efforts to optimize hosting costs and improved pricing with our cloud service providers, which offset some of the headwind of a higher cloud revenue mix to total gross margin.

由於我們不斷努力優化託管成本並改善與雲服務提供商的定價，我們的雲毛利率顯著提高，這抵消了較高的雲收入組合對總毛利率的一些不利影響。

The concerted efforts and focus on improving the unit economics of the cloud business have been paying off and will continue to drive efficiencies in the future. In the near term, we continue to anticipate total gross margin to fluctuate near or midterm target of approximately 70%.

共同努力並專注於提高雲業務的單位經濟性已經得到回報，並將在未來繼續提高效率。在短期內，我們繼續預計總毛利率將在近期或中期目標附近波動約 70%。

Turning to profitability and cash flow. Operating margin improved 8 percentage points year-over-year to negative 33.5%. The improvement was driven by revenue outperformance, improving sales efficiency and our focused efforts to proactively manage spend across the organization, such as controlling the rate and pace of hiring.

轉向盈利能力和現金流。營業利潤率同比增長 8 個百分點至負 33.5%。這種改善是由收入表現出色、銷售效率提高以及我們集中精力主動管理整個組織的支出（例如控制招聘速度和速度）推動的。

Net loss per share was negative $0.16, using 278.3 million basic and diluted weighted average shares outstanding. Free cash flow margin improved approximately 25 percentage points year-over-year to negative 26.5% driven by strong collections. We ended the second quarter with $1.96 billion in cash, cash equivalents and marketable securities.

每股淨虧損為負 0.16 美元，使用 2.783 億股基本和稀釋加權平均流通股。在強勁收款的推動下，自由現金流利潤率同比增長約 25 個百分點至負 26.5%。我們在第二季度結束時擁有 19.6 億美元的現金、現金等價物和有價證券。

Now I'll turn to our outlook. We are raising our revenue and profit guidance for Q3 and the year, but the magnitude of the raise has been tempered by the current macro dynamics. Towards the back half of June and through July, we saw an increased scrutiny on deal approvals.

現在我將轉向我們的前景。我們正在上調第三季度和當年的收入和利潤指引，但上調幅度已受到當前宏觀動態的影響。在 6 月下旬至 7 月期間，我們看到對交易批准的審查越來越嚴格。

We believe this is driven by customers' cautious view on the current macro environment balance with their need to continue with the digital transformation initiatives with data in motion being a must-have capability. We're assuming this dynamic continues through the rest of the year and have estimated approximately $2 million to $3 million negative impact on our Q3 revenue guidance and approximately $4 million to $6 million negative impact on fiscal year 2022.

我們認為，這是由於客戶對當前宏觀環境平衡的謹慎看法，以及他們需要繼續數字化轉型計劃，而動態數據是必不可少的能力。我們假設這種動態將持續到今年剩餘時間，並估計對我們的第三季度收入指導產生約 200 萬至 300 萬美元的負面影響，對 2022 財年產生約 400 萬至 600 萬美元的負面影響。

We've adjusted our spending levels in the second half to ensure we meet our operating margin targets and incremental investments we make will be in the highest ROI segments of the business. We'll continue to monitor and course correct if the conditions change materially and action is warranted.

我們已經在下半年調整了支出水平，以確保我們達到我們的營業利潤率目標，並且我們所做的增量投資將用於業務的最高投資回報率部分。如果情況發生重大變化並且有必要採取行動，我們將繼續進行監控和糾正。

Our goal in the midterm remains delivering high growth with annual margin improvements and turning non-GAAP profitable exiting Q4 2024.

我們的中期目標仍然是實現高增長，提高年度利潤率，並在 2024 年第四季度實現非 GAAP 盈利。

Turning now to guidance. For the third quarter of 2022, we expect revenue to be in the range of $143 million to $145 million, representing growth of 39% to 41% year-over-year. Due to our Q2 sequential outperformance, we expect Q3 sequential cloud revenue net adds to be between $8 million and $8.5 million, and we expect non-GAAP operating margin to be approximately negative 33%, non-GAAP net loss per share to be in the range of negative $0.19 to negative $0.17, using approximately 282 million weighted average shares outstanding.

現在轉向指導。對於 2022 年第三季度，我們預計收入將在 1.43 億美元至 1.45 億美元之間，同比增長 39% 至 41%。由於我們第二季度的連續表現，我們預計第三季度連續雲收入淨增加在 800 萬美元至 850 萬美元之間，我們預計非 GAAP 營業利潤率約為負 33%，非 GAAP 每股淨虧損將在使用約 2.82 億股加權平均流通股，範圍為負 0.19 美元至負 0.17 美元。

For the full year 2022, we expect revenue to be in the range of $567 million to $571 million, representing growth of 46% to 47% year-over-year, non-GAAP operating margin to be in the range of negative 35% to negative 34% and non-GAAP net loss per share in the range of negative $0.73 to negative $0.69, using approximately 280 million weighted average shares outstanding.

對於 2022 年全年，我們預計收入將在 5.67 億美元至 5.71 億美元之間，同比增長 46% 至 47%，非美國通用會計準則營業利潤率將在負 35% 至使用約 2.8 億股加權平均已發行股票，負 34% 和非公認會計原則每股淨虧損在負 0.73 美元至負 0.69 美元之間。

Turning to free cash flow. We changed the structure of the payout for the annual bonus from 1 lump sum payment in Q1 '23 to 2 payments, one in Q3 2022 of approximately $14 million and the remaining payment in Q1 '23. Due to the timing of these payments, Q3 and fiscal year 2022 free cash flow margin will be lower than originally anticipated, while FY '23 free cash flow margin will be better than previously anticipated.

轉向自由現金流。我們將年度獎金的支付結構從 23 年第一季度的 1 次一次性支付更改為 2 次支付，2022 年第三季度支付約 1400 萬美元，其餘在 23 年第一季度支付。由於這些付款的時間安排，第三季度和 2022 財年的自由現金流利潤率將低於最初的預期，而 23 財年的自由現金流利潤率將好於此前的預期。

Before turning to Q&A, I'd like to invite you to join our investor session at [Current] 2022 on Tuesday, October 4, in Austin, Texas. We'll provide an update on our strategy, product and customers. To join in person, please contact IR for the registration information. The program will be webcast live on our IR website beginning at 2:00 p.m. Central Time.

在轉向問答之前，我想邀請您參加我們於 10 月 4 日星期二在德克薩斯州奧斯汀舉行的 [Current] 2022 的投資者會議。我們將提供有關我們的戰略、產品和客戶的最新信息。如需親自參加，請聯繫 IR 獲取註冊信息。該節目將於下午 2:00 開始在我們的 IR 網站上進行網絡直播。中部時間。

In closing, our second quarter results underscore our ability to drive high growth with increased operating leverage. While the near-term macro environment is uncertain, the secular tailwind for data in motion is firmly intact. With a market-leading data streaming platform and a track record of delivering on our commitments, we're well positioned to drive durable growth and improve profitability ahead.

最後，我們的第二季度業績強調了我們通過增加經營槓桿來推動高增長的能力。雖然近期宏觀環境不確定，但動態數據的長期順風仍然完好無損。憑藉市場領先的數據流平台和兌現承諾的良好記錄，我們處於有利地位，可以推動持久增長並提高未來的盈利能力。

Now Jay and I will take your questions.

現在傑伊和我會回答你的問題。

Thank you, Steffan. (Operator Instructions) And today, our first question comes from Jason Ader with William Blair followed by UBS.

謝謝你，斯特凡。 （操作員說明）今天，我們的第一個問題來自 Jason Ader 和 William Blair，然後是瑞銀。

So yes, I wanted to ask you about the macro impact, just starting out implementing Kafka requires some planning and requires some process change. Is that where the impact is as customers sort of maybe slow down a little bit on the pace of some of those projects? And then what -- how do you expect that to play out as we go through Q3?

所以是的，我想問你關於宏觀影響的問題，剛開始實施 Kafka 需要一些計劃並且需要一些流程更改。這是否會產生影響，因為客戶可能會稍微放慢其中一些項目的步伐？然後是什麼 - 當我們經歷第三季度時，您希望它如何發揮作用？

Yes. I mean what we actually saw was continued strong demand, and I would say some sporadic delays in deals. So I would say maybe more finance inspection, a little bit longer, another round of review kind of inspection of TCO. We saw that across geos and segments. So it wasn't really a localized thing, but it wasn't hugely widespread. And I think all that has factored into the guidance.

是的。我的意思是，我們實際看到的是持續強勁的需求，我想說一些零星的交易延遲。所以我會說也許更多的財務檢查，更長的時間，對 TCO 的另一輪審查類型的檢查。我們在地域和細分市場中看到了這一點。所以它並不是一個真正的本地化的東西，但它並沒有被廣泛傳播。我認為所有這些都已納入指導。

So we kind of took a look at that and we said, "Well, what do we expect going forward?" I think probably more of the same. I think we haven't seen any of those deals that kind of went through further review be lost, but they have been delayed. And I think that's a testament to the kind of overall work we've done on TCO and making sure that, that story is strong.

所以我們看了一下，然後我們說，“好吧，我們對未來有什麼期望？”我認為可能更多相同。我認為我們沒有看到任何經過進一步審查的交易丟失，但它們已被推遲。我認為這證明了我們在 TCO 方面所做的整體工作，並確保這個故事是強有力的。

And then a quick follow-up just on use cases. You talked about some of those on the call. Are there any examples that you can think of in the quarter where you guys were like, "Wow, that's a really cool use case that we've never seen before," or maybe a vertical. Maybe in the past, it wouldn't be obvious that there would be a use case for Confluent. Just kind of curious about that.

然後對用例進行快速跟進。你談到了電話會議中的一些人。有沒有你能想到的任何例子，你們會說，“哇，這是一個我們以前從未見過的非常酷的用例”，或者可能是垂直的。也許在過去，Confluent 的用例並不明顯。只是有點好奇。

Yes. I would say the trend I'm most excited about is kind of that move to some of these really central use cases where it's kind of broad across the company. We've seen a number of organizations doing that, including some of the customers that started on premise as they graduate to the cloud, taking that on. So that was probably the most exciting trend I noticed was just some of these early on-premise folks now going big in the cloud and seeing some of the results of that.

是的。我想說我最興奮的趨勢是轉向一些真正核心的用例，在整個公司範圍內它有點廣泛。我們已經看到許多組織都在這樣做，包括一些在遷移到雲後開始在內部部署的客戶，並採取了這種做法。所以這可能是我注意到的最令人興奮的趨勢，只是這些早期的內部人員中的一些人現在在雲中大放異彩，並看到了其中的一些結果。

We'll take our next question from Karl Keirstead with UBS, followed by Morgan Stanley.

我們將向瑞銀的 Karl Keirstead 提出下一個問題，然後是摩根士丹利。

So maybe 2 questions. Steffan, you mentioned that there was outperformance on the cloud side in 2Q, and that's why you were assuming a roughly similar sequential improvement in 3Q. Was there anything unusual, Steffan, you'd call out on the cloud performance in 2Q? Any pull in, et cetera? And then I've got a quick follow-up on the platform business.

所以也許有2個問題。 Steffan，您提到第二季度雲計算方面表現出色，這就是您假設第三季度大致相似的連續改進的原因。有什麼不尋常的事嗎，Steffan，你會在第二季度提到雲性能嗎？任何拉動，等等？然後我對平台業務進行了快速跟進。

Well, we're very pleased with the record performance in Q2 sequential for cloud. We didn't see anything unusual or a pull forward. We just saw a broader adoption in consumption patterns across really our entire customer base, which was very good to see.

好吧，我們對第二季度雲連續性的創紀錄表現感到非常滿意。我們沒有看到任何異常或向前推進。我們剛剛看到整個客戶群的消費模式得到了更廣泛的採用，這非常值得一看。

So we also gave that additional guidance for Q3 to help calibrate and level set folks' expectations. And we're still calling for sequential growth for each of the orders between Q2 and Q4 of this year. So very healthy growth, and we're well positioned to deliver that.

因此，我們還為第三季度提供了額外的指導，以幫助校準和調整人們的期望。我們仍然呼籲今年第二季度到第四季度的每個訂單都實現連續增長。非常健康的增長，我們有能力實現這一目標。

Got it. Congrats on that number, Steffan. And then on the platform side, when you initially set guidance for '22, your implied outlook for the platform business I felt like was a little bit conservative where perhaps you were prepping us for more moderate growth on the platform side yet goodness on the cloud side.

知道了。恭喜這個數字，斯特凡。然後在平台方面，當您最初為 '22 設定指導時，您對平台業務的隱含前景我覺得有點保守，也許您在為我們準備在平台方面進行更溫和的增長而在雲方面做得很好邊。

Yet, your platform business actually grew at a pretty healthy clip. It grew sequentially by $5 million, which is pretty similar to what it did in the year ago quarter despite that pretty strong cloud growth. So we really didn't see any sort of migration or trade-off there. Anything that you would call out as maybe helping that platform number in 2Q, where maybe we just need to keep that in mind as we model the platform segment in the second half, Steffan?

然而，您的平台業務實際上以相當健康的速度增長。儘管雲增長相當強勁，但它連續增長了 500 萬美元，這與去年同期的情況非常相似。所以我們真的沒有看到任何形式的遷移或權衡。任何你認為可能有助於第二季度平台數量的事情，也許我們只需要記住這一點，因為我們在下半年對平台部分進行建模，Steffan？

I think it's an important point here. The implications of us building a central nervous system for our customer base really means that we have to be wherever our customers' data resides. So that means on-prem, in the cloud, in hybrid cloud environments. And we feel like we are very well positioned to do that.

我認為這裡很重要。我們為客戶群建立中樞神經系統的意義實際上意味著我們必須在客戶數據所在的任何地方。這意味著在本地、在雲中、在混合雲環境中。我們覺得我們完全有能力做到這一點。

Our CP business in particular, is going to continue to grow. But as you look at the new ACV percentages that are coming in and how much is cloud versus platform, over 50% of new ACV has been cloud for the last 3 quarters in a row. So by definition, we are going to see somewhat more moderated growth coming out of Confluent platform.

尤其是我們的 CP 業務，將繼續增長。但是，當您查看即將到來的新 ACV 百分比以及雲與平台之間的比例時，超過 50% 的新 ACV 連續三個季度都是雲計算的。因此，根據定義，我們將看到 Confluent 平台的增長有所放緩。

But the biggest takeaway is the Confluent platform business is important because it gives us an opportunity to upsell and cross-sell Confluent Cloud on top of those CP-only environments. And you look at our NRR numbers for total NRR and then also for hybrid and cloud. And the hybrid and cloud and NRR numbers are greater than the total company average.

但最大的收穫是 Confluent 平台業務很重要，因為它讓我們有機會在那些僅限 CP 的環境之上追加銷售和交叉銷售 Confluent Cloud。您可以查看我們的 NRR 數字，了解總 NRR 以及混合和雲。混合、雲和 NRR 的數量高於公司的總平均水平。

Got it. Okay. Well, nice job, Jay, and Steffan. I know it's a tough demand backdrop, so well done.

知道了。好的。嗯，幹得好，傑伊和史蒂芬。我知道這是一個艱難的需求背景，做得很好。

Thank you.

謝謝你。

Thank you.

謝謝你。

We'll take our next question from Sanjit Singh with Morgan Stanley, followed by Wells Fargo.

我們將向摩根士丹利的 Sanjit Singh 提出下一個問題，然後是富國銀行。

I really appreciate the framework on the guide, Steffan. That was super helpful and gives us a way to sort of map to how you're thinking about the environment.

我非常感謝指南中的框架，Steffan。這非常有幫助，並為我們提供了一種映射您對環境的看法的方法。

Jay, I wanted to take -- I want to get your opinion on how this softening demand environment, this downturn might compare to what we saw in sort of 2020. And there were some -- in some industries, some sporadic customers sort of downgraded to Kafka. And given what you said on your earnings -- in your script around Confluent Cloud being 10x better than Kafka, what do you think the risk is in this downturn that customers would choose to potentially move from paid Confluent either platform or cloud to open source Kafka? How those dynamics have changed in 2022 versus some customers choosing to go that route during the height of the pandemic?

傑伊，我想听聽你對這種疲軟的需求環境，這種低迷可能與我們在 2020 年看到的情況相比有何看法。在某些行業中，一些零星的客戶被降級了到卡夫卡。考慮到你在收入上所說的——在你關於 Confluent Cloud 的腳本比 Kafka 好 10 倍時，你認為在這種低迷時期，客戶可能會選擇從付費 Confluent 平台或云遷移到開源 Kafka 的風險是什麼?與一些客戶在大流行高峰期選擇走這條路相比，這些動態在 2022 年發生了怎樣的變化？

Yes I think the dynamic has changed significantly, and I would say really for 2 reasons. Like the first one is what I touched on, which is actually our product is much better. And you would think, oh, that was just a few years ago. But Confluent is a young company. So maybe as a percentage of our life, we've done a lot of development in the last few years, those kind of like pillars of differentiation and around being cloud-native and complete and everywhere. Those are very real, and it's meaningful to customers.

是的，我認為動態已經發生了顯著變化，我會說真的有兩個原因。就像第一個是我提到的，實際上我們的產品要好得多。你會想，哦，那隻是幾年前的事了。但 Confluent 是一家年輕的公司。因此，也許作為我們生活的一部分，我們在過去幾年中做了很多開發，類似於差異化的支柱，圍繞雲原生、完整和無處不在。這些都是非常真實的，對客戶來說很有意義。

And that analysis of TCO and our ability to communicate that effectively and believably to customers has gotten much better. So I think that's the first reason is actually it doesn't make sense to get off of a cloud platform and go try and hire a team of engineers. And that's not going to pencil out positive by any means. So I think that helps us significantly.

對 TCO 的分析以及我們與客戶進行有效且可信的溝通的能力已經變得更好。所以我認為這是第一個原因，實際上離開雲平台並嘗試聘請工程師團隊是沒有意義的。無論如何，這不會是積極的。所以我認為這對我們有很大幫助。

The second thing that I think has helped us is really just the maturity of the field organization, start to finish from account management to customer success. We're just much better at helping to support our customers and getting them through to the production use cases that are the thing that's going to be sticky. And I think that shows up in the results as well.

我認為幫助我們的第二件事實際上只是現場組織的成熟度，從客戶管理開始到客戶成功。我們在幫助支持我們的客戶並讓他們進入生產用例方面做得更好，這些用例會很棘手。我認為這也顯示在結果中。

Got it. And then my follow-up was sort of around the announcements on getting rid of the paywall. It makes a ton of sense in driving that -- those sign-ups. And so I think your top of funnel is probably going to see a lot of healthy growth.

知道了。然後我的後續行動有點像關於擺脫付費牆的公告。推動那些註冊是很有意義的。所以我認為你的漏斗頂部可能會看到很多健康的增長。

Historically, in terms of customers making it to that $100,000 threshold, what does that sort of conversion look like? And what sort of your view or optimism that increasing the sort of top of funnel will help you source some customers that can make it to that $100,000 cohort?

從歷史上看，就客戶達到 100,000 美元的門檻而言，這種轉換是什麼樣的？您對增加漏斗頂部類型的看法或樂觀態度將幫助您找到一些可以進入 100,000 美元隊列的客戶？

Yes, it's very high. I mean the -- in the area we're in, it's very important that we have the open source. And in many ways, the kind of self-service cloud is like the open source as that kind of frictionless thing you can build against.

是的，它非常高。我的意思是——在我們所在的領域，我們擁有開源是非常重要的。在許多方面，這種自助服務雲就像開源一樣，是你可以構建的那種無摩擦的東西。

So I would say a significant portion of our customers either come from that open source usage or come from self-service with cloud, which we see as kind of the future of that open source adoption. So it's actually quite important to plant those seeds.

所以我想說，我們的很大一部分客戶要么來自開源使用，要么來自使用雲的自助服務，我們認為這是開源採用的一種未來。因此，種植這些種子實際上非常重要。

Sometimes that path is a little bit winding. That first use case may just be some developer playing with it and trying some stuff out. It may be several hops in a totally different person who signs up and does it later, but it's still actually really important.

有時這條路有點曲折。第一個用例可能只是一些開發人員在玩它並嘗試一些東西。在一個完全不同的人身上可能需要幾跳才能註冊並稍後再做，但它實際上仍然非常重要。

And that's why we have that continued investment at the top of the funnel versus just kind of going after enterprise, where there's a lot of dollars. You have to have that broad spread. And the push for us is there's so many open source Kafka users out there. We want to go get them all. And so these are the investments that we think can set us up to do that over time.

這就是為什麼我們在漏斗頂部進行持續投資，而不是僅僅追求企業，那裡有很多美元。你必須有如此廣泛的傳播。對我們的推動是那裡有這麼多開源 Kafka 用戶。我們想把它們都拿走。所以這些是我們認為可以讓我們隨著時間的推移做到這一點的投資。

We'll take our next question from Michael Turrin with Wells Fargo, followed by Cowen.

我們將向富國銀行的 Michael Turrin 提出下一個問題，然後是 Cowen。

You added record levels of new cloud revenue this quarter. It sounds like the commentary suggests you're expecting that can hold even with some of the impacts you're characterizing in June and July.

您在本季度增加了創紀錄的新雲收入水平。聽起來評論表明，即使您在 6 月和 7 月所描述的一些影響，您也可以期待這種影響。

I'm just wondering if there's any -- if this is just sort of a function of the broader mix shift towards cloud, or if there's any change you're observing in how customers are adopting Confluent technology you'd call out. I'm imagining the flexibility could prove more attractive. So I'm just wondering how much of this is just [though] --direction of the market was likely to head anyways, or if there's anything more recent to call attention to that.

我只是想知道是否有任何變化——如果這只是更廣泛的混合向雲轉移的一種功能，或者你觀察到客戶在採用 Confluent 技術的方式上是否有任何變化，你會呼籲。我想像這種靈活性可能會更有吸引力。所以我只是想知道其中有多少只是[儘管]——市場的方向可能無論如何都會發生變化，或者是否有任何最近的事情需要引起人們的注意。

Yes, it's a combination of both. I mean I would say, quarter-to-quarter, it's not like the dynamics of the product or the market changed dramatically. So there is just some seasonality to how this flows if you look at Q1 versus Q2, and we called that out previously.

是的，它是兩者的結合。我的意思是，我會說，每季度，產品的動態或市場都沒有發生巨大變化。因此，如果您查看第一季度和第二季度，那麼這種流動的方式只是有一些季節性，我們之前已經說過了。

But yes, if you step back and you look over a multi-quarter trajectory, I think there's a significant mindset shift in a lot of these teams that would be our customers to move away from kind of hiring a lot of very expensive engineers around the internal infrastructure to like trying to find really high-quality cloud services and build against us over the long term.

但是，是的，如果你退後一步，看看多季度的發展軌跡，我認為很多團隊的思維方式發生了重大轉變，我們的客戶將不再僱傭大量非常昂貴的工程師。內部基礎設施喜歡試圖找到真正高質量的雲服務並長期與我們對抗。

And I think that the customers who are doing that are actually getting the value back much faster. And they're able to build and develop quicker. And they're able to apply the resources to the thing that builds real unique competitive advantage for that company versus kind of lower-level infrastructure.

而且我認為這樣做的客戶實際上可以更快地獲得價值。他們能夠更快地建立和發展。他們能夠將資源應用於為該公司建立真正獨特的競爭優勢的事物，而不是那種較低級別的基礎設施。

So I think that trend is absolutely a tailwind. And as we've gotten to scale and have really checked a lot of the boxes on security, reliability, et cetera, I think there's a pretty high bar there for this kind of infrastructure you have to cross before you can start to pick that up.

所以我認為這種趨勢絕對是順風。隨著我們已經擴大規模並且確實檢查了很多關於安全性、可靠性等方面的問題，我認為這種基礎設施有一個相當高的標準，你必須先跨越才能開始接受它.

As we've done that, I think we've started to benefit from that as well where it becomes far less risky to work with a company like Confluent. I think that's another tailwind. And then the adoption of data in motion overall continues, right? And those are longer trends around just the use of data and the integration of software and how that's driving these more operational kind of run the business use cases.

當我們這樣做時，我認為我們已經開始從中受益，與像 Confluent 這樣的公司合作的風險要小得多。我認為這是另一個順風。然後總體上繼續採用動態數據，對嗎？這些是圍繞數據使用和軟件集成以及如何推動這些更具操作性的業務用例運行的長期趨勢。

That's great. Just a quick follow-up, similar line of questioning. You had some useful comments around the hybrid use case and the expansion retention rate there holding even stronger than the 130% you're seeing overall. Is that something you're finding repeatable, the openness of Confluent and this ability to work across multiple environments? Is that something you can lean into that?

那太棒了。只是一個快速的跟進，類似的提問。您對混合用例提出了一些有用的評論，並且那裡的擴展保留率甚至比您看到的 130% 的整體還要高。 Confluent 的開放性和跨多種環境工作的能力是您發現的可重複性嗎？那是你可以依靠的東西嗎？

Yes, absolutely. Yes, we keep coming back to it because I would say out there, there's definitely a set of people who see our Confluent platform to Confluent Cloud as a kind of transition, where customers will delete the Confluent platform and install the Confluent Cloud.

是的，一點沒錯。是的，我們不斷地回到它，因為我會說，肯定有一群人將我們的 Confluent 平台視為一種過渡到 Confluent Cloud，客戶將刪除 Confluent 平台並安裝 Confluent Cloud。

So it's actually a little bit different from that. Like this has to span their different environments. So it's typically an expansion out into these cloud environments as projects are happening there in each of these customers.

所以它實際上與那個有點不同。像這樣必須跨越他們不同的環境。因此，隨著每個客戶的項目都在這些雲環境中進行，它通常是向這些雲環境的擴展。

And that ability to bridge between is really strategic. Like one of the key problems you have to solve if you want to get meaningful amounts of workloads into the cloud is how those can tie back into all the legacy data systems and applications on premise. And we think that we have a key strategic role in that.

這種在兩者之間架起橋樑的能力確實具有戰略意義。就像如果您想將大量工作負載放入雲中，您必須解決的關鍵問題之一是如何將這些工作負載重新綁定到本地的所有遺留數據系統和應用程序中。我們認為我們在這方面發揮著關鍵的戰略作用。

And that's actually quite important for a lot of these organizations. It's just not practical for them to turn over their full suite of software investments into cloud native applications in any kind of short period of time. Some of these customers have significant investments that are some generations back on mainframes, right?

這對於很多這樣的組織來說實際上非常重要。對於他們來說，在任何類型的短時間內將其全套軟件投資轉變為雲原生應用程序是不切實際的。其中一些客戶在大型機上進行了幾代人的重大投資，對嗎？

And so it's all going to make it to the cloud, but that time period is fairly elongated. And how it all works together as one company in the interim period is incredibly important to them.

所以這一切都會進入雲端，但這段時間相當長。在過渡時期，這一切如何作為一家公司協同工作對他們來說非常重要。

So this ability to both bridge across, be able to connect to the new and the old and move to the more real-time streaming event-driven architecture they want anyway is a big deal.

因此，這種跨越的能力，能夠連接到新的和舊的，並遷移到他們想要的更實時的流事件驅動架構，這很重要。

We'll take our next question from Derrick Wood with Cowen followed by JPMorgan.

我們將從 Derrick Wood 和 Cowen 以及摩根大通那裡回答我們的下一個問題。

Great. I guess my first question, Jay, we get a lot of questions around the puts and takes of your cloud consumption business. And what we've heard from Snowflake as a comparison is that a lot of customers will kind of pump a lot of analytic workloads into the system and drive a lot of consumption and growth and then go through this kind of optimization cycle where consumption flattens and then start to see more workloads grow again.

偉大的。我想我的第一個問題，Jay，我們有很多關於你的雲消費業務的看跌期權的問題。作為比較，我們從 Snowflake 聽到的是，很多客戶會將大量分析工作負載注入系統並推動大量消費和增長，然後經歷這種消費趨於平緩的優化週期，然後開始看到更多的工作負載再次增長。

And maybe we're in a little bit more of an optimization cycle right now. But just curious, do you guys have a similar dynamic where you go through these optimization cycles? Or because you're more centered around transactional workloads, do you not tend to see that kind of behavior?

也許我們現在正處於一個優化週期中。但只是好奇，你們在經歷這些優化週期時是否有類似的動態？或者因為您更關注事務性工作負載，您是否傾向於看到這種行為？

Yes. I mean certainly, any customer, as their spend gets to scale, looks at, hey, is this well spent? And are we using it inefficiently? We have a lot less of that, I think, than things that don't serve production use loads -- work loads.

是的。我的意思是當然，任何客戶，隨著他們的支出規模擴大，看看，嘿，這花得值嗎？我們是否在低效使用它？我認為，與不服務於生產使用負載的東西相比，我們擁有的東西要少得多——工作負載。

Like production workloads usually kind of come optimized as it were. They have development days, where you're kind of building it. Some of the data warehouse usage is more ad hoc reporting, things that are kind of thrown together. And so I think you do kind of accumulate more and then prune it back.

就像生產工作負載一樣，通常會按原樣進行優化。他們有開發日，您可以在其中構建它。一些數據倉庫的使用是更多的臨時報告，一些東西是放在一起的。所以我認為你確實會積累更多然後將其修剪回來。

So maybe in that respect, we might be more comparable to something like MongoDB, which is serving more permanent applications in our usage patterns. And I haven't looked enough at the dynamics of Snowflake to say if that comparison is accurate. But in terms of us, that is -- this idea of production workloads is actually quite important.

所以也許在這方面，我們可能更類似於 MongoDB 之類的東西，它在我們的使用模式中服務於更永久的應用程序。而且我對 Snowflake 的動態研究還不夠多，無法說這種比較是否準確。但就我們而言，即生產工作負載的這種想法實際上非常重要。

And in conversations with investors, there has been this idea that like, oh, as soon as there's some economic pressure, like consumption is going to drop so that hasn't been what we've seen and it's certainly not what we saw this quarter.

在與投資者的對話中，有這樣的想法，哦，一旦有一些經濟壓力，比如消費就會下降，所以這不是我們所看到的，當然也不是我們本季度所看到的.

Okay. And Steffan, one for you. Just looking at the Q3 guide and knowing that you're expecting $8 million to $8.5 million in cloud quarter-over-quarter build, that would suggest some downtick in another line item, whether it's platform or professional services. And platform is obviously the bigger revenue piece.

好的。還有 Steffan，給你一個。只需查看第三季度指南並知道您預計雲計算季度環比構建成本為 800 萬美元至 850 萬美元，這表明另一個項目（無論是平台還是專業服務）都會出現下滑。平台顯然是更大的收入部分。

So what would cause platform revenues to be down sequentially, especially kind of in light of that being a stronger government quarter, which tends to be purchase more platform licenses?

那麼，什麼會導致平台收入連續下降，尤其是考慮到政府季度表現強勁，往往會購買更多平台許可證？

It really comes down to how the mix of business is coming in. We have one sales force, and they sell -- they're selling a solution, right? The fact that we've had 50% of new ACV coming in that's been cloud for the last 3 quarters in a row is a dynamic at play.

這真的歸結為業務組合的方式。我們有一個銷售團隊，他們銷售——他們銷售的是解決方案，對嗎？事實上，我們已經有 50% 的新 ACV 連續 3 個季度出現在雲端，這是一個動態的因素。

We still think that there's going to be just a healthy business coming out of Confluent platform for Q3. But the way that the models are working, we're anticipating that Confluent Cloud will continue to grow very helpfully. Confluent platform will be a contributor for sure, but it won't be as pronounced in Q3. Typically, we would see a little bit of a bounce back in Q4 because that's the end of the year buying cycles and that's when Confluent platform typically has a very strong sequential quarter.

我們仍然認為第三季度的 Confluent 平台只會帶來健康的業務。但是模型的工作方式，我們預計 Confluent Cloud 將繼續非常有幫助地增長。 Confluent 平台肯定會成為貢獻者，但在第三季度不會那麼明顯。通常，我們會在第四季度看到一些反彈，因為那是年底的購買週期，而 Confluent 平台通常有一個非常強勁的連續季度。

We'll take our next question from Pinjalim Bora with JPMorgan, followed by Goldman Sachs.

我們的下一個問題來自摩根大通的 Pinjalim Bora，然後是高盛。

I wanted to ask you guys about the margin guidance. It seems like OpEx is in the second half coming down more the year-over-year growth, at least when I look at it. I think you talked about a little bit on hiring. Help us understand the levers that you're pulling in the second half to optimize OpEx.

我想問你們關於保證金指導的問題。看起來 OpEx 在下半年的同比增長下降得更多，至少在我看來是這樣。我想你談了一點關於招聘的事情。幫助我們了解您在下半年優化運營支出的槓桿。

Yes. So we haven't done anything overly aggressive. I mean we see a huge growth opportunity ahead. And so for us, it's about high sustained growth and increasing improvements in operating margin and other unit economic metrics.

是的。所以我們沒有做任何過於激進的事情。我的意思是，我們看到了巨大的增長機會。所以對我們來說，這是關於高持續增長和營業利潤率和其他單位經濟指標的不斷提高。

So we did make some adjustments on kind of the timing of hires. We did the kind of normal readjustment we would do in the second half of the year on just moving spend to higher ROI programs and efforts.

所以我們確實對招聘時間進行了一些調整。我們在下半年進行了正常的調整，將支出轉移到更高的投資回報率計劃和工作上。

Overall, that did add to the savings we would expect. And we've seen already some of that play out, which is great. So we're happy with the improvement that we had kind of plotted out our trajectory. And this gets us a little bit towards our goal, even a little faster than we do.

總體而言，這確實增加了我們預期的節省。我們已經看到了其中的一些結果，這很棒。因此，我們對我們規劃出的軌蹟的改進感到滿意。這讓我們朝著目標前進了一點點，甚至比我們快一點。

So just to be clear, in 2020, when COVID hit, you had kind of paused hiring completely, right? So this is not anything close to that.

所以要明確一點，在 2020 年，當 COVID 來襲時，你已經完全暫停了招聘，對吧？所以這不是什麼接近的東西。

Yes. No, nothing like that.

是的。不，不是那樣的。

Understood. One technical question, I guess, for Jay. The ZooKeeper dependency, I thought was gone from Kafka 2.8 or something like that. I look at Amazon MSK. They still talk about ZooKeeper.

明白了。我猜是傑伊的一個技術問題。 ZooKeeper 依賴項，我認為已經從 Kafka 2.8 或類似的東西中消失了。我看亞馬遜 MSK。他們仍然在談論 ZooKeeper。

So I'm trying to understand, are they running a few steps behind in terms of Kafka version? And does that ZooKeeper dependency now gone? Does that help you in your cloud gross margins?

所以我想了解，他們在 Kafka 版本方面是否落後了幾步？ ZooKeeper 依賴現在消失了嗎？這對您的雲毛利率有幫助嗎？

Yes, yes. So it's -- that was a dependency in the open source that people don't like. And so we've done work to take a lot of these workloads. This is about how do you manage the internal meta data and how you help that scale up for very large use cases. So that's kind of how it helps as well as just the simplicity of our users getting started.

是的是的。所以它 - 這是人們不喜歡的開源依賴項。所以我們已經做了很多工作來承擔這些工作量。這是關於您如何管理內部元數據以及如何幫助將其擴展到非常大的用例。所以這就是它的幫助方式以及我們用戶入門的簡單性。

As to Amazon's product, they do tend to be a few versions behind. The current stage is we've built a self-hosting Kafka with no dependency on ZooKeeper. That's going through a set of iterations that make it kind of increasingly production ready, and it's on a great path. So we're seeing already kind of early folks who are adopting and playing with that. And we expect that will become kind of the more mainstream approach over time.

至於亞馬遜的產品，它們確實往往落後幾個版本。當前階段是我們構建了一個不依賴 ZooKeeper 的自託管 Kafka。這正在經歷一系列迭代，使其越來越適合生產，而且它正在走上一條偉大的道路。所以我們已經看到一些早期的人正在採用和使用它。我們預計隨著時間的推移，這將成為一種更主流的方法。

Will that help us? Yes, it will definitely lower the cost to serve a particular use case because we won't have that dependency running in our cloud.

這會對我們有幫助嗎？是的，它肯定會降低為特定用例提供服務的成本，因為我們不會在我們的雲中運行該依賴項。

We'll take our next question from Kash Rangan with Goldman Sachs, followed by Bank of America.

我們將向高盛的 Kash Rangan 提出下一個問題，然後是美國銀行。

Jay and Steffan, great job dissecting the quarter and your outlook. I'm curious, during an economic downturn let's just say what we're going through is an economic downturn. Companies redefine value proposition, data architectures. It generally takes a bit of leap of confidence to change these things. How are you adopting, if at all, a change in your go-to-market approach in order to get people over the fence?

Jay 和 Steffan，很好地剖析了這個季度和你的前景。我很好奇，在經濟衰退期間，讓我們說我們正在經歷的是經濟衰退。公司重新定義價值主張、數據架構。改變這些事情通常需要一點信心。如果有的話，你是如何改變你的進入市場的方法來讓人們越過柵欄的？

Clearly, you have done a great job with the technology that's less of a contention Kafka versus Confluent commercial. But I'm curious if you are thinking about changing go-to-market strategy, assuming that these tough times will last for a long time, higher interest rates, higher inflation, higher hurdles, that sort of thing. You see what I'm getting at.

顯然，您在技術方面做得很好，Kafka 與 Confluent 商業競爭的競爭較少。但我很好奇你是否正在考慮改變上市策略，假設這些艱難時期將持續很長時間，更高的利率、更高的通脹、更高的障礙，諸如此類。你明白我在說什麼。

Yes. It's a really important question. So we show a little bit of that customer growth go-to-market graph of kind of the stages for our customer. This is why the early stages are so important. When we land with the customer, we're not landing for an architecture change. It's not like, hey, let's install a new central nervous system.

是的。這是一個非常重要的問題。因此，我們為我們的客戶展示了一些階段的客戶增長進入市場圖表。這就是為什麼早期階段如此重要的原因。當我們與客戶一起登陸時，我們並不是為了改變架構而登陸。這不像，嘿，讓我們安裝一個新的中樞神經系統。

We're landing for use case. Like we're landing for one useful, valuable application. And then we want to grow from there in an organic way that also solves for that bigger picture. That's something that we've put effort into from the early days of the company to make that kind of gradual pack easy to realize.

我們正在登陸用例。就像我們登陸一個有用的、有價值的應用程序一樣。然後我們希望從那里以一種有機的方式發展，這也解決了更大的問題。這是我們從公司成立初期就一直在努力使這種漸進式包裝易於實現的事情。

And I think it's really important. I think if we didn't have that, we would suffer from what you described, which is like, hey, do we want to make some big IT investments and some change in data flow? Maybe, maybe not. It's very important that each step on that journey, deliver value projects by project. That's critical for us. And so I think that's the first thing to understand.

而且我認為這非常重要。我想如果我們沒有那個，我們會遭受你所描述的，這就像，嘿，我們是否想進行一些大的 IT 投資和數據流的一些改變？也許，也許不是。旅程中的每一步，按項目交付有價值的項目，這一點非常重要。這對我們來說至關重要。所以我認為這是首先要理解的。

The second thing is, yes, how do we adjust in a more difficult environment. I would say probably the biggest adjustment, we haven't seen the need for this. We're still seeing lots of new use cases happening. But if we see a slowdown in net new use cases, we would shift to more of the conversion of open source Kafka, where there's a very significant installed base of Kafka. I shared some stats on that in the last earnings call.

第二件事是，是的，我們如何在更困難的環境中進行調整。我會說可能是最大的調整，我們還沒有看到這樣做的必要性。我們仍然看到許多新的用例正在發生。但是，如果我們看到淨新用例的增長放緩，我們將轉向更多的開源 Kafka 轉換，那裡有非常重要的 Kafka 安裝基礎。我在上次財報電話會議上分享了一些相關數據。

And so the migration of that over to Confluent Cloud is a significant pool of usage to fish out of. And so if we see, hey, there's some slowdown overall in software projects, obviously, we'll still get the ones that are happening, but we would compensate by focusing on that more.

因此，將其遷移到 Confluent Cloud 是一個重要的使用池。因此，如果我們看到，嘿，軟件項目總體上出現了一些放緩，顯然，我們仍然會得到正在發生的那些，但我們會通過更多地關注這一點來彌補。

Both for the new use cases and for those conversions, they rely on that underlying TCO analysis of like, hey, is this better? Should I build on this cloud service? Is that going to be both a better product but also something that's cheaper and a better pay off to me when I consider all my costs?

對於新用例和那些轉換，它們都依賴於基礎 TCO 分析，例如，嘿，這樣更好嗎？我應該建立在這個雲服務上嗎？當我考慮到我的所有成本時，這是否既是一種更好的產品，又是一種更便宜、更好的回報？

We'll take our next question from Brad Sills with Bank of America followed by Deutsche Bank.

我們將向美國銀行的布拉德·西爾斯（Brad Sills）和德意志銀行（Deutsche Bank）提出下一個問題。

Great. So my question was on net revenue retention, cloud outpacing net revenue retention in total. What is it about a cloud deals such that the velocity to expand is greater than overall (inaudible) platform?

偉大的。所以我的問題是關於淨收入保留，雲計算總收入超過了淨收入保留。雲交易的擴展速度大於整體（聽不清）平台的原因是什麼？

Yes. Yes. So for anybody who missed the last bit, I think the question was why is cloud NRR higher. It's really both sides, right? So the retention is better. If you're building it against a running cloud data service, as that gets to larger and larger scale, it gets harder and harder to move off of it, especially for something like Confluent where there's many applications in different parts of the business that have attached to this. And you would have to all agree to be able to switch together.

是的。是的。因此，對於任何錯過最後一點的人，我認為問題是為什麼雲 NRR 更高。真的是雙方對吧？所以保留效果更好。如果您針對正在運行的雲數據服務構建它，隨著規模越來越大，離開它變得越來越難，特別是對於像 Confluent 這樣的東西，在業務的不同部分有許多應用程序附於此。你們必須都同意才能一起切換。

And in that respect, it doesn't suffer from as much competition from the open source. That kind of becomes a very difficult path to pursue. So that's on the retention side.

在這方面，它不會受到來自開源的競爭。那樣就變成了一條非常難走的路。所以這是在保留方面。

On the expansion side, I think it's mostly just about the ease of realizing the value. One of the things for a large enterprise that's often hard is spinning up a net new production data platform. Some big distributed system, hiring the team of very specialized people, getting all the servers, being able to scale that, doing that reliably enough that you can build against it and then all the teams can kind of count on it as a utility, that's actually really challenging.

在擴展方面，我認為這主要是關於實現價值的難易程度。對於大型企業來說，通常很難做到的事情之一就是建立一個全新的生產數據平台。一些大型分佈式系統，僱傭非常專業的團隊，獲得所有服務器，能夠擴展它，做到足夠可靠，你可以針對它進行構建，然後所有團隊都可以依賴它作為一個實用程序，那就是實際上真的很有挑戰性。

And even if they master that core bit, getting to kind of the full ecosystem for data in motion, what we would offer in our product is usually out of reach. So all the connectors and streamer, all the stuff that teams need to be successful, they typically won't have that.

即使他們掌握了核心部分，獲得了動態數據的完整生態系統，我們在產品中提供的功能通常也是遙不可及的。所以所有的連接器和流媒體，所有團隊需要成功的東西，他們通常不會有。

So then why does cloud expand faster? It's because it's much easier to just go and build your application and get the value up. And so those are the 2 factors that I think drive it.

那麼，為什麼雲會擴展得更快呢？這是因為去構建你的應用程序並獲得價值要容易得多。所以這些是我認為推動它的兩個因素。

That's great. And then one more, if I may. Any color on greenfield versus replacement-type work loads that you're seeing in our applications. I think historically its both the revenue applications that drive the growth. Like you talked about increased connectivity to legacy infrastructure. Does that mean you're starting to see more of that replacement cycle come into the business?

那太棒了。如果可以的話，再來一個。您在我們的應用程序中看到的新建工作負載與替換類型工作負載的任何顏色。我認為從歷史上看，這兩種收入應用都是推動增長的。就像您談到增加與遺留基礎設施的連接一樣。這是否意味著您開始看到更多的更換週期進入業務？

Yes. We've always had an element of replacement. It's typically not exactly 1 to 1. But I would say that there's a replacement of legacy messaging and middleware layers, replacement of more batch database processing, replacement of some legacy ETL or data movement products.

是的。我們總是有替換的元素。它通常不完全是 1 比 1。但我會說，有舊消息傳遞和中間件層的替換，更多批處理數據庫處理的替換，一些舊 ETL 或數據移動產品的替換。

When we're doing analysis with customers, that's typically where spend and budget is freeing up from. I don't think we've seen a big shift in that mix. It is some new stuff and some freeing up of old stuff.

當我們與客戶進行分析時，這通常是支出和預算得以釋放的地方。我認為我們沒有看到這種組合發生重大轉變。這是一些新的東西和一些舊的東西釋放。

And oftentimes, the new stuff is replacing some of the old steps. I would say broadly, that mix is similar to what it's always been.

很多時候，新的東西正在取代一些舊的步驟。我會廣泛地說，這種組合與以往的組合相似。

We'll take our next question from Brad Zelnick with Deutsche Bank, followed by D.A. Davidson.

我們將向德意志銀行的 Brad Zelnick 提出下一個問題，然後是 D.A.戴維森。

Congrats on the strong growth, guys, and nice margin progression. Steffan, the change in timing on bonus payments, can you just share what inspired that? And are there any changes in your philosophy around equity versus cash comp? And how is that evolving maybe just given what seems to be an easing labor dynamic out there?

祝賀強勁的增長，伙計們，以及不錯的利潤增長。 Steffan，獎金支付時間的變化，你能分享一下是什麼啟發了嗎？您在股權與現金補償方面的理念是否有任何變化？鑑於那裡似乎是一種寬鬆的勞動力動態，這種演變可能是如何發展的？

Good question. Thanks for that, Brad. Well, we are looking at overall compensation for our employees This year, we've decided to move to a semiannual payout from a bonus standpoint for this year.

好問題。謝謝你，布拉德。好吧，我們正在考慮員工的整體薪酬 今年，我們決定從今年的獎金角度轉向半年支付一次。

And given kind of the dynamics that we've seen just with stock price and with other things that our employee base is going through, we wanted to be employee-friendly and effectively go through and have a semiannual payment structure for this year, instead of an annual payment structure.

鑑於我們在股票價格和我們的員工群正在經歷的其他事情上看到的動態，我們希望對員工友好，並有效地通過並在今年制定半年付款結構，而不是年度付款結構。

And that was a conscious thing that we did. And that was well received by our employee base. And it has really no impact to free cash flow over, call it, a couple of year basis because it's really a timing of cash flow payments. So we feel good about that.

這是我們有意識地做的事情。這得到了我們員工群的好評。它實際上對自由現金流沒有影響，稱之為幾年的基礎，因為它確實是現金流支付的時間。所以我們對此感覺很好。

And then as far as equity versus cash, we've been very selective in terms of making sure that our top talent is taken care of. And we also are making sure that our employees are compensated according to market.

然後就股權與現金而言，我們在確保我們的頂尖人才得到照顧方面非常有選擇性。我們還確保我們的員工根據市場獲得報酬。

So that's something that we will -- we have been doing and that we'll continue to do going forward to make sure that we have a fully engaged employee base. And I think a follow-on question maybe around attrition. Attrition has been trending better than we expected. And we feel good about like the health and well-being of our employees.

所以這就是我們將要做的事情——我們一直在做，並且我們將繼續做下去，以確保我們擁有一個完全敬業的員工基礎。我認為一個後續問題可能與減員有關。人員流失的趨勢比我們預期的要好。我們對員工的健康和福祉感覺良好。

Excellent. Congrats.

出色的。恭喜。

Great. Thank you.

偉大的。謝謝你。

Thanks, Brad.

謝謝，布拉德。

We'll take our next question from Rudy Kessinger with D.A. Davidson, followed by Barclays.

我們將回答 Rudy Kessinger 和 D.A. 的下一個問題。戴維森，其次是巴克萊。

The total customer count, I know there's -- the pay-as-you-go guys, that causes some messiness there. But does the total count was flat quarter-over-quarter? So have you seen a slowdown in those new pay-as-you-go trials? I guess maybe just given the macro, people are more hesitant even if it's free to start new projects?

總客戶數，我知道有 - 即用即付的傢伙，這會導致一些混亂。但總數量是否與季度持平？那麼，您是否看到這些新的現收現付試驗有所放緩？我想也許只是考慮到宏觀，即使可以免費開始新項目，人們也會更加猶豫？

Yes. We haven't seen any kind of macro impact. There's enough changing in that area that it would be very hard to disambiguate. At the top of the funnel, we actually saw very strong growth, so like 50% more sign-ups. Those people getting into usage is very strong.

是的。我們還沒有看到任何宏觀影響。該領域有足夠的變化，很難消除歧義。在漏斗頂部，我們實際上看到了非常強勁的增長，所以註冊人數增加了 50%。那些開始使用的人非常強大。

We think over time, that will lead to increasing customer adds at an even better rate. So we feel pretty good about where that will go. It's a new funnel, so we have to work through all the details of that. But it's actually, I think, a really important strategic move for us.

我們認為，隨著時間的推移，這將導致以更快的速度增加客戶。所以我們對它的去向感覺很好。這是一個新的漏斗，所以我們必須處理所有細節。但實際上，我認為，對我們來說，這是一個非常重要的戰略舉措。

Got it. And then you mentioned...

知道了。然後你提到...

Just a follow-on to that, Rudy, just quickly. I know your question was more on pay-as-you-go. But I do want to just point out that from a committed customer standpoint, we did see really healthy growth, more adds versus last quarter and last year.

只是一個後續，魯迪，很快。我知道你的問題更多的是現收現付。但我確實想指出，從忠誠的客戶的角度來看，我們確實看到了非常健康的增長，與上一季度和去年相比增加了更多。

And why is that important? The vast majority of our business comes from our committed customer base. And so that's a dynamic that we just -- we wanted to reinforce as well.

為什麼這很重要？我們的絕大多數業務來自我們忠誠的客戶群。所以這是一種我們只是想要加強的動力。

Got it. You mentioned the more scrutiny on the new deals. I guess I'm curious with your existing customers. Have you noticed any notable amount of customers that have, I guess, slowed down their expansion plans with Confluent? I guess when you look at the impact to the year, the $4 million to $6 million impact to the guide for the year, is that entirely from [Slower] new customer adds? Or is any of it from your existing customer?

知道了。你提到了對新交易的更嚴格審查。我想我對你現有的客戶很好奇。我猜你有沒有註意到有大量客戶放慢了 Confluent 的擴張計劃？我想當您查看對年度的影響時，對年度指南的 400 萬到 600 萬美元的影響，完全來自 [Slower] 新客戶的添加嗎？還是來自您現有的客戶？

Yes. I would say, generally, scrutiny can come on either expansion, new projects in the same company or new projects in a company we don't yet sell to. It's a little bit more pronounced probably on the new logo acquisition because that's probably when they do the most analysis. But yes, it's across both of those.

是的。我想說，一般來說，審查可以針對擴張、同一公司的新項目或我們尚未出售給的公司的新項目。這可能在新徽標的獲取上更加明顯，因為這可能是他們進行最多分析的時候。但是，是的，它跨越了這兩者。

And that -- what Steffan gave on the guidance kind of wraps up our summary of, well, netted all out, what does it add up to, probably something around there.

那--Steffan 在指導中給出的內容總結了我們的總結，好吧，全部淨額，它加起來是什麼，可能就在那裡。

Our final question today comes from Raimo Lenschow.

我們今天的最後一個問題來自 Raimo Lenschow。

Quick question, more strategic question because I'm the last one in the queue here. Jay, if you think about your cloud mix, we're moving to more like the 50% range, et cetera. What does it mean from an organizational structure in terms of how you're selling, how you're doing resources?

快速的問題，更具戰略意義的問題，因為我是這裡隊列中的最後一個。傑伊，如果您考慮一下您的雲組合，我們正在向更接近 50% 的範圍移動，等等。從組織結構來看，你如何銷售、如何使用資源意味著什麼？

I know you talked earlier about the importance of having both. But like sales motion, et cetera, is there a change that kind of you need to start thinking about as you're becoming more and more like a proper cloud company? And then I have one follow-up.

我知道你之前談到了兩者兼備的重要性。但是，就像銷售動議等一樣，隨著您越來越像一家合適的雲公司，您是否需要開始考慮這種改變？然後我有一個後續行動。

Yes. Yes. There's a significant amount happening around that and a significant amount that has already happened. So often, these adjustments actually have to happen before you get the results. So it's not like we've been doing nothing and suddenly this happened and now we're adjusting.

是的。是的。圍繞這一點發生了很多事情，而且已經發生了很多事情。很多時候，這些調整實際上必須在你得到結果之前發生。所以這並不是說我們一直什麼都不做，突然發生了這種情況，現在我們正在調整。

But I do think there's continued advancement there. So in particular, I think really leaning into the consumption aspect of the business. The fact that customers can expand their usage 365 days a year without -- and do transactions only as needed to kind of take the commit up, that's actually quite important.

但我確實認為那裡有持續的進步。所以特別是，我認為真正傾向於業務的消費方面。事實上，客戶可以一年 365 天無限制地擴展他們的使用量——並且只根據需要進行交易以完成提交，這實際上非常重要。

That makes it much easier to add workloads, to add use cases, to spread to other teams. Leaning into that and how our team think and what we measure and monitor in customer usage in how the sales team is motivated, that's incredibly important. We've done that in some of the segments already, but it's absolutely a journey across everything.

這使得添加工作負載、添加用例以及傳播到其他團隊變得更加容易。了解這一點以及我們的團隊如何思考以及我們在客戶使用中衡量和監控的內容以及銷售團隊的激勵方式，這非常重要。我們已經在某些領域做到了這一點，但這絕對是一次跨越一切的旅程。

And I think that's an opportunity for us to both accelerate growth and drive more efficiency by really focusing on the key things that matter to our customers in like delivering use cases to production and getting the value out of it and then to us in driving consumption revenue.

我認為這對我們來說是一個加速增長和提高效率的機會，通過真正關注對我們的客戶重要的關鍵事情，比如將用例交付到生產中並從中獲得價值，然後對我們推動消費收入.

Yes. And then last question for me was on -- you mentioned earlier, in tougher times, you might want to lean more into the Kafka base. Where are they at the moment in terms of deployment models? Are they kind of [sell] forced in the cloud? Are they kind of on-premise? And how can you kind of help to kind of drive that switch over?

是的。然後我的最後一個問題是——你之前提到過，在更艱難的時期，你可能想要更多地投入到 Kafka 基地。就部署模型而言，它們目前在哪裡？他們是不是被迫在雲端出售？它們是內部部署的嗎？你怎麼能幫助推動這種轉換？

Yes. Yes. So the use cases are where they are, right? Many of them are on-premise. Many of them are in the cloud. The ones that are -- we can convert over easily are the ones in the cloud. Those are the ones we can go get on Confluent Cloud.

是的。是的。所以用例在哪裡，對吧？其中許多是內部部署的。其中許多都在雲端。我們可以輕鬆轉換的那些是雲中的。這些是我們可以在 Confluent Cloud 上獲得的。

We think there's a net migration of stuff into the cloud overall. And that's a natural cutover point to move to some different way of doing it. I would say there is a mindset shift just happening in all types of companies, tech companies, enterprise companies, away from kind of a do-it-yourself mindset on some of this infrastructure, which I think has just proven kind of expensive and unreliable and harder to scale and just a drag on productivity.

我們認為整體上存在向雲計算的淨遷移。這是一個自然的切入點，可以轉移到一些不同的方式來做這件事。我想說的是，所有類型的公司、科技公司、企業公司都發生了一種思維方式的轉變，從一些基礎設施上的“自己動手”思維方式轉變，我認為這種思維方式被證明是昂貴且不可靠的更難擴展，只會拖累生產力。

And so I do think we're just seeing that increasingly where companies a year ago who would have told us like, nah, we're doing it ourselves, we're happy are now like, okay, this doesn't make any sense. Like we have this large and growing team that kind of can't keep up with the needs internally. Like we need some solution for it.

所以我確實認為我們只是看到越來越多的公司在一年前會告訴我們，不，我們正在自己做，我們很高興現在就像，好吧，這沒有任何意義.就像我們擁有這個龐大且不斷增長的團隊一樣，無法滿足內部需求。就像我們需要一些解決方案一樣。

Okay. Perfect. Makes sense. Congrats from me as well.

好的。完美的。說得通。我也祝賀你。

Yes. Thanks so much.

是的。非常感謝。

All right. That concludes today's earnings call. Thanks again, everyone, for joining us. Take care.

好的。今天的財報電話會議到此結束。再次感謝大家加入我們。小心。