Commvault Systems Inc (CVLT) 2024 Q3 法說會逐字稿

Hello, and welcome to the Commvault Q3 fiscal year 2024 earnings conference call.

您好，歡迎參加 Commvault 2024 財政年度第三季財報電話會議。

(Operatot Instructions) .

（操作說明）。

I will now turn the conference over to Michael Melnyk Head of Investor Relations.

我現在將會議交給投資者關係主管 Michael Melnyk。

Please go ahead.

請繼續。

Good morning, and welcome to our earnings conference call are Michael Miller, Head of Investor Relations, and I'm joined by Celgene, which is already combo CEO, and Jerry Merrell, Campbell, CFO and earnings presentation with key financial and operating metrics posted on the Investor Relations website for reference statements.

早上好，歡迎參加我們的收益電話會議，投資者關係主管邁克爾·米勒(Michael Miller)，新基(Celgene) 已擔任聯合首席執行官，以及首席財務官坎貝爾·傑裡·梅雷爾(Jerry Merrell) 和發布了關鍵財務和營運指標的收益演示投資者關係網站上的參考聲明。

Made on today's call will include forward-looking statements about combo future expectations, plans and prospects.

今天的電話會議將包括有關組合未來預期、計劃和前景的前瞻性陳述。

Also certain caution, which in today's earnings release and Commvault most recent periodic reports filed with the SEC for discussion of risks and uncertainties that could cause the Company's actual results to be materially different than those contemplated in the forward looking statements.

此外，在今天的收益報告和Commvault 向美國證券交易委員會提交的最新定期報告中，還需要注意一些風險和不確定性的討論，這些風險和不確定性可能導致公司的實際結果與前瞻性聲明中預期的結果存在重大差異。

Commvault does not assume any obligation to update these statements.

Commvault 不承擔更新這些聲明的任何義務。

During this call, Campbell's financial results are presented on a non GAAP basis.

在這次電話會議中，金寶湯的財務表現是根據非公認的會計原則公佈。

Reconciliation between non-GAAP and GAAP measures can be found on our website.

非 GAAP 和 GAAP 指標之間的調整可以在我們的網站上找到。

Thank you again for joining us.

再次感謝您加入我們。

Now I'll turn it over to Sanjay for his opening remarks.

現在我將請 Sanjay 致開幕詞。

Sunday.

星期日。

Thank you, Mike.

謝謝你，麥克。

Good morning and thank you for joining us today.

早安，感謝您今天加入我們。

I am pleased to report our Q3 results exceeded expectations, including double-digit year-over-year growth across our most important taking out by our own metrics.

我很高興地向大家報告，我們第三季的業績超出了預期，包括按照我們自己的指標衡量的最重要的業務實現了兩位數的同比增長。

This was an exceptional quarter.

這是一個特殊的季度。

We also set the stage for the future by introducing market-leading innovation with Commvault plus our revolutionary platform for cyber results.

我們也透過 Commvault 引入市場領先的創新以及我們革命性的網路結果平台，為未來奠定了基礎。

Some financial highlights include total revenue increased 11% year over year to $217 million.

一些財務亮點包括總營收年增 11%，達到 2.17 億美元。

This was driven by a 31% increase in subscription revenue, which now represents more than half of our total risk.

這是由訂閱收入成長 31% 推動的，目前該收入占我們總風險的一半以上。

Total ARR.

總ARR。

The primary metric we use to measure underlying growth grew 17% year over year to over three quarters of a $1 billion.

我們用來衡量潛在成長的主要指標年增 17%，達到 10 億美元的四分之三以上。

Subscription ARR grew 29% year over year to $571 million and is now over 75% of total sales up SaaS, they are increased 77% year over year to $152 million, and we expanded operating margins by 180 basis points year over year, while continuing to repurchase shares.

訂閱 ARR 總銷售額的 75% 以上，年增 77%，達到 1.52 億美元，我們的營業利潤率年增了 180 個基點，同時繼續回購股票。

These results reinforce the top of products and services and more demand than ever, especially as companies grapple with how to keep the data secure compliant and resilient in a world increasingly under threat of cyber attacks for two years now, we discussed how the volume intensity and sophistication of cyberattacks would require a radically different approach to cyber resiliency database where when perimeter security alone would.

這些結果強化了產品和服務的頂級地位，並且需求比以往任何時候都多，特別是當公司努力解決如何在兩年來日益受到網路攻擊威脅的世界中保持資料安全、合規性和彈性時，我們討論了數量強度和網路攻擊的複雜性將需要一種完全不同的網路彈性資料庫方法，而單獨的外圍安全則需要這種方法。

Suffice, it's just a matter of time until the bad actors day.

夠了，壞演員的日子到來只是時間問題。

So rather than just looking at prevention, CEOs and CFOs alike are putting a heavy emphasis on recovery and resilience.

因此，執行長和財務長不僅關注預防，還高度重視恢復和復原力。

This transition has fueled the most important pivot in our 27 year history.

這一轉變推動了我們 27 年歷史上最重要的轉型。

In November, we introduced combo cloud powered by Metallica AI.

11 月，我們推出了由 Metallica AI 提供支援的組合雲端。

This platform brings together the best of all worlds, industry-leading data protection, combined with data security, data intelligence and recovery.

該平台匯集了世界上最好的、業界領先的資料保護，並結合了資料安全、資料智慧和復原。

Commvault cloud offers the fastest most reliable recovery of any solution in the market today with our platform, data can be restored from anyone anywhere rapidly reliably and at massive scale

Commvault 雲端透過我們的平台提供當今市場上任何解決方案中最快、最可靠的恢復，可以從任何地方的任何人快速可靠地大規模恢復數據

.

。

The platform provides a high capabilities, giving customers automated and predictive recovery, threat intelligence and operational efficiencies to deliver true cyber resilience.

該平台提供強大的功能，為客戶提供自動化和預測性復原、威脅情報和營運效率，從而提供真正的網路彈性。

No longer will organizations need to make a natural choice is between SaaS and other data center workloads with our platform.

透過我們的平台，組織不再需要在 SaaS 和其他資料中心工作負載之間做出自然選擇。

We support more workloads than any other vendor in our space, and we do all of this and lowest total cost of ownership.

我們支援比我們領域內任何其他供應商更多的工作負載，並且我們做到了所有這一切並實現了最低的總擁有成本。

We scale the platform integrating with major hyperscalers as well as leading cybersecurity and AI companies like Avaira Toric price, Databricks, Microsoft Sentinel and Palo Alto Networks among others

我們與主要的超大規模供應商以及領先的網路安全和人工智慧公司（如 Avaira Toric Price、Databricks、Microsoft Sentinel 和 Palo Alto Networks 等）整合來擴展平台

.

。

I'm pleased to share that customers, partners and industry analysts have been reading about.

我很高興與大家分享客戶、合作夥伴和產業分析師一直在閱讀的內容。

For instance, one customer told analyst firm enterprise strategy, group quote, were highly regulated industry Commvault was the only solution we found that gives us the flexibility and assurance that satisfied our auditors because of Commvault.

例如，一位客戶告訴分析公司，企業策略、集團報價是嚴格監管的行業，Commvault 是我們發現的唯一解決方案，它為我們提供了靈活性和保證，使我們的審計師感到滿意，因為Commvault 。

I can assure a leadership team that we are protected and we all sleep better at night, end quote,

我可以向領導團隊保證，我們受到保護，我們晚上都睡得更好，引用結束，

IDC research, Vice President, Phil Goodman said quote, this announcement relines Commvault products to meet customer preferences and sets the company on a path to be very competitive and cyber resilience and quote.

IDC 研究副總裁 Phil Goodman 表示，這項公告重新調整了 Commvault 產品以滿足客戶偏好，並使該公司走上了一條極具競爭力和網路彈性的道路。

And we continue to introduce major innovations in the platform that stalled critical customer challenges.

我們繼續在平台中引入重大創新，以解決關鍵的客戶挑戰。

For example, with our clean room recovery offering, we are closing the gap that exists between incident response planning and readiness.

例如，透過我們的無塵室恢復產品，我們正在縮小事件回應計畫和準備之間存在的差距。

New clean room recovery capabilities enabled customers to thoroughly and cost effectively test the recovery plans, it also provide them with a safe, on-demand environment to recover.

新的無塵室恢復功能使客戶能夠徹底且經濟高效地測試恢復計劃，還為他們提供了安全、按需的恢復環境。

It is this kind of groundbreaking innovation that sets us apart from the competition and helps us take share and land new business.

正是這種突破性的創新使我們在競爭中脫穎而出，幫助我們搶佔市場份額並開拓新業務。

In fiscal Q3, we added another 500,000 subscription customers now represent well over half of our total active customer base.

在第三財季，我們又增加了 50 萬名訂閱客戶，目前占我們活躍客戶群總數的一半以上。

A couple of examples include a large state agency that detective security gaps with its incumbent vendor.

幾個例子包括一個大型國家機構，該機構正在檢測與其現有供應商之間的安全漏洞。

This new customer turn the Commvault for immutable Aircraft ransomware protection anomaly detection and an improved cyber resilience posture.

這位新客戶將 Commvault 轉變為不可變的飛機勒索軟體保護異常檢測和改進的網路彈性狀態。

And we also help the Fortune 500 capital equipment company, eliminate this patchwork of tenders and move their workloads onto our unified platform

我們也幫助財星 500 強資本設備公司消除這種拼湊的招標，並將他們的工作負載轉移到我們的統一平台上

.

。

That allowed them to modernize and improve their cyber resilience posture, better protect them from ramps, and we're able to lower total cost of ownership.

這使他們能夠實現現代化並改善其網路彈性狀態，更好地保護他們免受攻擊，並且我們能夠降低總擁有成本。

To expand our perspective and keep us at the forefront of innovation.

擴大我們的視野並保持我們處於創新的前沿。

We also established a cyber resilience council comprised of security visionaries from top cyber cloud and government organizations.

我們也建立了一個網路彈性委員會，由來自頂級網路雲端和政府組織的安全遠見家組成。

The Council of Advisors on security trends and cyber threats, which will ship product development strategy and partnering opportunities.

安全趨勢和網路威脅顧問委員會將發布產品開發策略和合作機會。

It is shared by Melissa Hathaway, a thought leader in cyber security and Digital Risk Management to serve and to presidential administrations for two months away from closing our fiscal year.

這是由網路安全和數位風險管理領域的思想領袖梅麗莎·海瑟薇 (Melissa Hathaway) 分享的，她將在距離我們財政年度結束還有兩個月的時間裡為總統政府服務。

And I couldn't be more excited about our momentum as we approach fiscal year '25.

隨著 25 財年的臨近，我對我們的發展勢頭感到非常興奮。

With that, I'll turn it over to Gary to discuss our results.

這樣，我會將其交給加里討論我們的結果。

Gary.

加里.

Thanks, Sanjay, and good morning, everyone.

謝謝桑傑，大家早安。

I am pleased to report strong revenue and earnings outperformance in Q3.

我很高興地報告第三季強勁的營收和獲利表現。

Starting with the top line, total revenue was $217 million, an increase of 11% year over year and significantly outpaced our Q3 expectations.

從營收開始，總營收為 2.17 億美元，年增 11%，顯著超出我們第三季的預期。

Our total revenue growth was highlighted by 31% year over year.

我們的總收入年增 31%。

Increase in subscription revenue to $114.2 million(sic - 8k, page 4) reflected about solid double digit growth in terms software licenses and accelerating contribution of SaaS revenue.

訂閱收入增加至 1.142 億美元（原文如此 - 8k，第 4 頁），反映出軟體授權的兩位數穩健成長以及 SaaS 收入貢獻的加速成長。

Our execution was strong as large software deal, close rates improved sequentially and we delivered against our largest term subscription renewal quarter of the fiscal year.

由於大型軟體交易，我們的執行力強勁，成交率連續改善，並且我們在本財年最大的定期訂閱續訂季度中實現了交付。

This execution resulted in term software deals over $100,000, up 25% year over year, driven by increases in both average selling price and deal volume.

在平均售價和交易量成長的推動下，此次執行導致定期軟體交易額超過 10 萬美元，年增 25%。

Q3 perpetual license revenue was $15 million as the perpetual licenses are generally sold in limited verticals and geographies.

第三季永久許可證收入為 1500 萬美元，因為永久許可證通常在有限的垂直領域和地區銷售。

At the current run rate.

以目前的運轉速度。

We believe that the headwinds to our reported total revenue growth from perpetual license sales are normalizing as we exit the current fiscal year.

我們相信，隨著我們退出本財年，我們報告的永久許可證銷售總收入成長的阻力正在正常化。

Q3 c ustomer support revenue, which includes support for both our term based and perpetual software licenses, was $77 million, down just 1% year over year.

第三季客戶支援收入（包括基於期限和永久軟體許可證的支援）為 7,700 萬美元，年比僅下降 1%。

Q3 and fiscal year '24 continued to benefit from the continued trend of fewer conversions of perpetual support contracts to term software licenses.

第三季和 24 財年繼續受益於永久支持合約向定期軟體許可證轉換減少的持續趨勢。

Year-to-date customer support revenue from perpetual licenses represented 54% of total customer support with the balance coming from term software and related arrangements.

今年迄今為止，來自永久許可證的客戶支援收入佔客戶支援總額的 54%，其餘部分來自定期軟體和相關安排。

This compares to approximately 60% in fiscal year '23 and 75% in fiscal year '22.

相比之下，23 財年約為 60%，22 財年約為 75%。

At this trajectory, we expect customer support revenue from term-based software licenses become the majority of our customer support revenue next fiscal year.

按照這個軌跡，我們預計來自基於期限的軟體許可證的客戶支援收入將成為我們下一財年客戶支援收入的大部分。

Moving from revenue results to ARR.

從收入結果轉向 ARR。

Q3 ARR was $752 million, representing 17% year over year growth and continues to reflect underlying strength of our business when our revenue was presented on an annualized basis, subscription ARR, which includes term-based software arrangements and fast contracts, increased 29% year over year to $571 million.

第三季 ARR 為 7.52 億美元，年成長 17%，當我們的營收按年化計算時，繼續反映我們業務的潛在實力，訂閱 ARR（包括基於期限的軟體安排和快速合約）同比增長 29%全年增至5.71 億美元。

Within subscription SaaS ARR grew 77% year over year to $152 million, driven by new customer acquisitions and strong expansion with existing customers.

在新客戶獲取和現有客戶強勁擴張的推動下，訂閱 SaaS ARR 年比成長 77%，達到 1.52 億美元。

Q3 GAAP net dollar retention rate or NRR was a healthy 125%.

第三季 GAAP 淨美元保留率或 NRR 為健康的 125%。

Now I'll discuss expenses and profitability.

現在我將討論費用和獲利能力。

Fiscal Q3 gross margins increased 90 basis points sequentially to 82.9% and includes continued improvement in our SaaS gross margins.

第三財季毛利率較上季成長 90 個基點，達到 82.9%，其中 SaaS 毛利率持續改善。

Fiscal Q3 operating expenses were $132 million, up 9% year over year, reflecting the impact of our planned go-to-market investments throughout fiscal year '24 in higher marketing spend during the quarter, including our shift event in New York City.

第三財季營運費用為 1.32 億美元，年增 9%，反映出我們計劃在整個 24 財年進行的上市投資對本季行銷支出增加的影響，包括我們在紐約市的輪班活動。

Overall operating expenses as a percentage of total revenue was 61%, representing 100 basis points of leverage year over year.

整體營運費用佔總收入的百分比為 61%，相當於槓桿率較去年同期上升 100 個基點。

Consistent with our objectives humans expenses relative to revenue results, we ended the quarter we global head count of approximately 2,900 employees, flat sequentially and up 3% year over year.

與我們相對於收入結果的人力支出目標一致，本季結束時，我們的全球員工人數約為 2,900 名，與上一季持平，年增 3%。

Our current head count balance includes additional inside sales teams, renewal and related customer success teams to support the customer journey and are accelerating velocity sales m otion.

我們目前的人員平衡包括額外的內部銷售團隊、更新和相關客戶成功團隊，以支援客戶旅程並加速銷售速度。

Non-gaap EBIT for Q3 increased 21% year over year to $47 million. Non-gaap EBIT

第三季非 GAAP 息稅前利潤年增 21% 至 4,700 萬美元。非公認會計原則息稅前利潤

margins increased 180 basis points year over year to 21.5%.

利潤率年增 180 個基點至 21.5%。

Moving to some key balance sheet and cash flow metrics.

轉向一些關鍵的資產負債表和現金流量指標。

We ended the quarter with no debt and $284 million in cash, of which $80 million within the United States.

本季結束時，我們沒有債務，現金為 2.84 億美元，其中 8,000 萬美元在美國境內。

Our Q3 free cash flow grew 45% year over year to $43 million.

我們第三季的自由現金流年增 45% 至 4,300 萬美元。

Through the first three quarters of the fiscal year, we generated $121 million of pretax flow, an increase of 20% year on year.

本財年前三季度，我們產生了 1.21 億美元的稅前流量，較去年同期成長 20%。

The biggest drivers of free cash flow or SaaS deferred revenue and the strength of our software subscription renewals with typically include upfront payment on multiyear contracts.

自由現金流或 SaaS 遞延收入的最大驅動力以及我們軟體訂閱續約的優勢通常包括多年合約的預付款。

In Q3, we repurchased $51 million of stock under our repurchase program, resulting in year-to-date purchases totaling $134 million, representing 111% of year-to-date free cash flow.

第三季度，我們根據回購計畫回購了 5,100 萬美元的股票，導致年初至今的採購總額達到 1.34 億美元，佔年初至今自由現金流的 111%。

Now I'll discuss our outlook for fiscal Q4 and the full fiscal year '24.

現在我將討論我們對第四財季和 24 財年的展望。

All of the following guidance metrics for based on current foreign currency exchange rates.

以下所有指導指標均基於當前外幣匯率。

For fiscal Q4, we expect subscription revenue, which includes both the software portion of term-based licenses and sense to be $111 to $115 million.

對於第四財季，我們預計訂閱收入（包括基於期限的許可的軟體部分和感知）為 111 至 1.15 億美元。

This represents 20% year over year growth at the midpoint.

這意味著中點同比增長 20%。

This Q4 subscription revenue outlook reflects continued momentum in our new customer and expansion in business, but a smaller renewal pool in fiscal Q4 relative to Q3.

第四季訂閱收入前景反映了我們新客戶和業務擴張的持續勢頭，但第四財季的續訂池相對於第三季較小。

As a result, we expect total revenue to be $210 to $214 million.

因此，我們預計總收入為 2.1 至 2.14 億美元。

At these revenue levels, we expect Q4 consolidated gross margins to be in the range of 18 months to 18% and EBIT margins in the range of 20%, 21%.

在這些收入水準上，我們預計第四季度綜合毛利率將在 18 個月至 18% 之間，息稅前利潤率將在 20% 至 21% 之間。

We continue to execute some foundational go to market changes, which include amplifying our discrete focus on our land-and-expand opportunities, scaling our motion to secure our growing subscription renewal base and investing to capitalize on our fiscal year '25 growth objectives.

我們繼續執行一些基本的市場變革，其中包括加強我們對土地和擴張機會的離散關注，擴大我們的行動以確保我們不斷增長的訂閱續訂基礎，並進行投資以實現我們 25 財年的成長目標。

These investments are reflected in the range of our Q4 margin guidance.

這些投資反映在我們第四季獲利指引的範圍內。

Our projected diluted share count for fiscal Q4 is approximately 44.5 million shares.

我們預計第四財季的稀釋後股票數量約為 4,450 萬股。

Now I wanted to give an updated outlook on the full fiscal year '24, which includes once again raising our total revenue and total ARR expectations for the full year.

現在我想對 24 年整個財年進行更新的展望，其中包括再次提高我們對全年的總收入和總 ARR 預期。

We expect fiscal year '24 total ARR growth of 15% year over year, which reflects a 100 basis point increase over our prior guidance.

我們預計 24 財年總 ARR 將年增 15%，這比我們先前的指引增加了 100 個基點。

We now expect subscription ARR, which includes term-based licenses and SaaS to increase 25% year over year and reflects a similar 100 basis point increase over our prior guidance.

我們現在預計訂閱 ARR（包括基於期限的授權和 SaaS）將年增 25%，與我們先前的指導相比成長了 100 個基點。

From a revenue perspective, we now expect subscription revenue to be in the range of $420 million to $424 million, growing 21% year over year at the midpoint, reflecting the continued momentum in our business in the $9 million increase at the midpoint compared to our prior guidance.

從收入角度來看，我們現在預計訂閱收入將在4.2 億美元至4.24 億美元之間，中點同比增長21%，反映出我們業務的持續增長勢頭，與我們的中點相比，中點增長了900 萬美元。事先指導。

At these revenue levels, subscription revenue will exceed over 50% of our total revenues f or the full year, we expect total revenue to be in the range of $826 million to $830 million, reflecting an $11 million increase at the midpoint components of our prior guidance.

在這些收入水準上，訂閱收入將超過我們全年總收入的 50% 以上，我們預計總收入將在 8.26 億美元至 8.3 億美元之間，反映出我們先前的中點部分增加了 1,100 萬美元。指導。

Our improved fiscal year '24.

我們改進了 '24 財年。

Total revenue outlook reflects the seasonally stronger of subscription software trends that we usually experience in the second half of the fiscal year, combined with the ongoing momentum of our fast offerings.

總收入前景反映了我們通常在本財年下半年經歷的季節性強勁的訂閱軟體趨勢，以及我們快速產品的持續勢頭。

Moving to full year fiscal '24 margin, EBIT and cash flow outlook, we continue to expect gross margins of 82% to 80%, non-GAAP EBIT margin expansion of 50 basis points to 100 basis points year over year.

展望 24 財年全年利潤率、息稅前利潤和現金流量前景，我們繼續預期毛利率為 82% 至 80%，非 GAAP 息稅前利潤率年增 50 個基點至 100 個基點。

We are also maintaining our expected full year free cash flows of $170 million.

我們也將全年預期自由現金流維持在 1.7 億美元。

As of December 31, we had $122 million remaining on our existing share repurchase authorization, and we expect to continue with our existing practice or repurchasing at least 75% of our annual free cash flows.Yyear to date.

截至 12 月 31 日，我們現有的股票回購授權還剩 1.22 億美元，我們預計將繼續採用現有做法，或回購至少 75% 的年度自由現金流。

We are pacing well ahead of target, and we intend to continue the share repurchase momentum during the current quarter.

我們的步伐遠遠超出了目標，我們打算在本季繼續保持股票回購勢頭。

For details and trends, all of our key metrics, please take time to review our investor deck contained on the Investor Relations section of our website.

有關詳細資訊和趨勢以及我們所有的關鍵指標，請花時間查看我們網站投資者關係部分中包含的投資者資料。

Operator, you can now open the line for questions.

接線員，現在可以撥打電話提問。

Thank you.

謝謝。

(Operator Instructions)

（操作員說明）

Aaron Rakers of Wells Fargo

富國銀行的亞倫‧雷克斯

Thanks, guys, for taking the question and congrats on the good quarter.

謝謝大家提出問題，並祝賀這個季度的良好表現。

I guess the first question, and I appreciate that you're not going to give guidance looking out into fiscal '25, but I'm just curious with the momentum you're seeing in subscription and obviously the SaaS business as well, how does how do you guys start to think about seasonality, in particular, thinking about the March quarter?

我想是第一個問題，我很高興您不會就 25 財年的情況提供指導，但我只是對您在訂閱以及顯然還有 SaaS 業務中看到的勢頭感到好奇，你們如何開始考慮季節性，特別是三月季度？

And I guess out a layer into that, how do we think about the customer support growth as that starts to that the rate of decline start to ease and maybe we return to growth as we look into next fiscal year?

我猜想，當我們展望下一個財年時，下降率開始放緩，也許我們會恢復成長，我們如何看待客戶支援的成長？

Fair and good morning.

公平，早安。

It's Gareth, like the remainer of third, all Yes, a couple of different data and maybe I'll start with the Q4 piece of data, the current March quarter for perspective.

這是加雷斯（Gareth），就像第三個剩下的人一樣，都是的，有幾個不同的數據，也許我會從第四季度的數據開始，即當前三月份的季度的數據。

So Q3 is looking back a quarter.

所以第三季回顧了一個季度。

We just finished was a really significant quarter for us by our measure that it's one of the best, if not the best quarter we've ever had.

從我們的衡量標準來看，我們剛完成的季度對我們來說非常重要，即使不是我們經歷過的最好的季度，也是最好的季度之一。

And we're really starting to see that cyber changing the way that people are buying.

我們確實開始看到網路正在改變人們的購買方式。

So some of some of the trend to be solved during that quarter gave us the confidence to raise both our Q4 and full year numbers.

因此，該季度需要解決的一些趨勢使我們有信心提高第四季度和全年的數字。

And as you mentioned about this, typically subscription revenue right of our guidance, less about 20% growth year over year at the midpoint.

正如您所提到的，訂閱收入通常符合我們的指導，年增長率中點約為 20%。

And what we're seeing and what we're expecting in fiscal Q4 is continued momentum in that land and expand motion of also the SaaS revenue that we're now generating as a tailwind and provide more predictability to our P&L.

我們在第四財季所看到和預期的，是該領域的持續成長勢頭，以及我們現在作為順風車產生的 SaaS 收入的擴大運動，並為我們的損益表提供了更多的可預測性。

Those together, we'll see a slightly smaller renewal opportunity in fiscal Q4 relative to Q3.

綜上所述，我們將看到第四財季的續約機會相對於第三財季略小。

So that's also reflected into our guidance for fiscal Q3 had the largest renewable we've ever we've ever had in our history.

因此，這也反映在我們對第三財季的指導中，我們擁有史上最大的再生能源。

So we think those trends along with continued execution and some really good acceleration in our partner ecosystem is really going to help us set the foundation for next year for total revenue is what's happening in the customer support revenue.

因此，我們認為這些趨勢以及我們合作夥伴生態系統中的持續執行和一些真正良好的加速確實將幫助我們為明年的總收入奠定基礎，即客戶支援收入中發生的情況。

And what you see there is that the decline year over year are starting to get mitigated and now down into the low in the low single digits.

你看到的是，逐年下降的情況開始有所緩解，現在已降至低個位數的低點。

Some of that's reflective of your conversion that I mentioned on last call.

其中一些反映了我在上次通話中提到的您的轉變。

We continue to see fewer convergence that then eliminate them there, headwinds we see in support.

我們繼續看到更少的融合，然後消除它們，我們看到支撐的阻力。

So somebody those headwinds will get mitigated going into next fiscal year, which should also provide some of that continued momentum.

因此，這些不利因素將在下一財年得到緩解，這也應該會提供一些持續的動力。

Allstate.

好事達。

Yes, Gary, I appreciate that.

是的，加里，我很感激。

Let me let me maybe kind of double-click on that.

讓我雙擊一下。

And just ask more specifically, do you think the customer support revenue can turn to growth?

更具體地說，您認為客戶支援收入可以轉化為成長嗎？

Yes.

是的。

As we look at the next fiscal year.

當我們展望下一個財年。

No I would say, as I look into next fiscal year, I would say flat to slightly down is, but I would expect on a full-year basis, Aaron, is what I would expect that this place, I think by the end of next fiscal year, the the the term component like the maintenance and support from our term licenses will become the majority of that customer support.

不，我想說，當我展望下一個財政年度時，我會說持平到略有下降，但我預計在全年的基礎上，亞倫，我認為這個地方到年底會是這樣的下一財年，我們的定期許可證的維護和支援等定期組件將成為客戶支援的主要部分。

But I think that will take it into the back half of next year, which means better, no full year basis will slightly be kind of probably low single digits.

但我認為這將把它帶入明年下半年，這意味著更好，全年基礎不會稍微有點低個位數。

Yes, that's helpful.

是的，這很有幫助。

And then a final quick question on the term side, it, can you just talk about what you're seeing from a maturity perspective?

然後是關於術語方面的最後一個快速問題，您能從成熟度的角度談談您所看到的嗎？

You know, entirely the term length of the deals you're engaged with, it sounds like large deals have improved the macro microvia.

你知道，從你所參與的交易的期限來看，聽起來大型交易已經改善了宏觀微孔。

So just kind of any updated thoughts on what you're seeing any kind of term Lakes return compression dynamics.

因此，只是對您所看到的任何術語“湖返回壓縮動態”的任何更新的想法。

Yes, absolutely.

是的，一點沒錯。

So what we continue to see now is stabilization in our term lengths.

因此，我們現在繼續看到的是我們的任期長度趨於穩定。

Last quarter, we saw the data first quarter stabilization.

上個季度，我們看到第一季的數據趨於穩定。

This quarter.

本季。

We saw another quarter stabilization on the subscription side.

我們看到訂閱方面又一個季度趨於穩定。

Our average term, still rounding, so about two years, but that stabilization on, which is also demonstrated by good execution, but also demand for our cyber resilience products is also giving a little more predictability in there on the other piece there.

我們的平均期限仍在四捨五入，所以大約為兩年，但這種穩定，這也可以透過良好的執行力來證明，而且對我們的網路彈性產品的需求也為另一部分提供了更多的可預測性。

And that's also critical to this is how we align with the partner ecosystem.

對此也至關重要的是我們如何與合作生態系統保持一致。

Right those the bigger deals and larger transformational projects are tied with some of the new monitor partner ecosystem, whether it be hyperscaler, there are others, and they also provide some, you know, some foundational support for keeping net of that term like LTE and uptake there.

就那些更大的交易和更大的轉型項目與一些新的監控合作夥伴生態系統相關聯，無論是超大規模的，還有其他的，他們還提供了一些，你知道的，一些基礎支持，以保持這個術語的網絡，如LTE 和在那裡吸收。

And as Sanjay, I'll just add one more point as customers start really moving and pivoting the hybrid model and hybrid cloud workloads.

作為 Sanjay，隨著客戶開始真正移動和轉向混合模型和混合雲工作負載，我將再補充一點。

Our platform allows them to do that mitigation and move their workloads and have the same as the same technology support them both in the cloud and data centric.

我們的平台允許他們緩解並轉移他們的工作負載，並在雲端和以數據為中心的情況下擁有相同的技術支援他們。

So University, we see that as well, that others will.

所以大學，我們也看到了這一點，其他人也會看到這一點。

Thanks, Ed.

謝謝，艾德。

Howard Ma, Guggenheim Securities

馬霍華德，古根漢證券

Yes, thanks and impressive results.

是的，謝謝，結果令人印象深刻。

I have a question that first for Sanjay, it sounds like if you were to dissect the outperformance in the quarter, I guess between the general spending environment, it may be improving.

我有一個問題，首先對桑傑來說，聽起來如果你要剖析本季的優異表現，我想整體支出環境可能正在改善。

It looks like it might be in secular tailwinds that have had no consolidating are increasing at infrastructure and security budget that versus your own internal execution due to new product creatives and go-to-market execution in.

由於新產品創意和上市執行，基礎設施和安全預算與您自己的內部執行相比可能處於沒有整合的長期順風中。

I understand it might be hard to separate at the end of the internal from external.

我知道在內部和外部的末端可能很難分開。

But if you could, if you were to force the stack rank the internal versus external it.

但如果可以的話，如果你要強制堆疊對內部和外部進行排序。

I'm curious what your thoughts a bit.

我有點好奇你的想法。

Well, I'd say I would say it's probably 75%, but this quarter in the past 75% interest.

嗯，我想說可能是 75%，但這個季度已經過了 75% 的興趣。

And I would say that because really powered Gary touched on this, our own business transformation moving are moving our installed base of customers and our new customers into a more ratable format as well as the subscription oriented format is actually working on subscription renewal tailwind is kicking in.

我想說，因為真正有動力的加里談到了這一點，我們自己的業務轉型正在將我們的客戶群和新客戶轉變為更可評價的格式，並且面向訂閱的格式實際上正在致力於訂閱續訂順風車在。

So the stuff that was a headwind for us to three years ago is actually becoming a nice, a nice, nice build own.

因此，三年前對我們來說是逆風的東西實際上正在成為一個很好的、很好的、很好的自己構建的東西。

And this last quarter was testimony to that.

最後一季就是證明。

We've also been we talked about our execution internally, really aligning our sales force, our marketing campaigns, our demand generation campaigns, all the things that you would expect to avail of the opportunity in front of us around cyber.

我們還在內部討論了我們的執行情況，真正調整了我們的銷售隊伍、我們的行銷活動、我們的需求產生活動，以及您期望利用我們面前的網路機會的所有事情。

So that's, you know, that's kicking in nicely as well.

所以，你知道，這也很有效。

And green shoots on some of the sort of the demand we're seeing on cyber resilience in the third is the new platform, the platform, the actual scalable cloud polymetallic, a platform that we're selling into customers at this point, technologies, like my colleagues in recovery are really beginning to get customers' attention.

我們在第三個階段看到的對網路彈性的某些需求的萌芽是新平台、平台、實際可擴展的雲端多金屬、我們目前向客戶銷售的平台、技術、就像我在康復部門的同事們真的開始引起客戶的注意一樣。

So uniquely different from what I've not perfect math, but I'd say 75% of what we're seeing is a combination of what we're doing and good execution alongside the fact that we're solving the talk externally resolving it really hard look at cyber cyber threats are rail and and we'll be able to do for them is meaningful.

與我不完美的數學有很大不同，但我想說，我們所看到的 75% 是我們正在做的事情和良好執行力以及我們正在從外部解決問題這一事實的結合真正認真地審視網絡威脅是鐵路和我們能夠為他們做的事情是有意義的。

Okay.

好的。

That's really good color.

這顏色確實不錯啊

Thank you for quantifying that, Sanjay, I have a follow-up for Gary.

謝謝你量化這一點，桑傑，我有加里的後續行動。

Gary, with the recent launch of comparable cloud and these new security bundle, can you give us some numbers around initial traction in cross selling these security modules to existing customers as well as adoption by net new logos?

加里（Gary），隨著最近推出的類似雲端和這些新的安全捆綁包，您能給我們一些關於向現有客戶交叉銷售這些安全模組的初始吸引力以及網絡新徽標的採用的一些數字嗎？

Thanks.

謝謝。

Yes, good morning, Howard atmosphere and begin this morning.

是的，早安，霍華德的氣氛又從今天早上開始。

So a couple of things is, as you know, we are announcements related to our new platform combo cloud just hit the market just a couple of months ago, okay?

如您所知，有幾件事是我們發布了與幾個月前剛上市的新平台組合雲端相關的公告，好嗎？

So where we're focused now is on demand gen.

所以我們現在關注的是按需生成。

So it is starting to see some very early benefit that we will start to see it in our in our pipeline and funnel that we're creating.

因此，它開始看到一些非常早期的好處，我們將開始在我們正在創建的管道和漏斗中看到它。

That's also reflected in our Q4 outlook.

這也反映在我們第四季的展望中。

What the what this will do is going to give us an amazing opportunity for expansion as well.

這也將為我們帶來絕佳的擴張機會。

None of that is reflected in our results for Q3.

這些都沒有反映在我們第三季的業績上。

So our results in Q3, foundries have talked about executing against that pipeline.

因此，我們在第三季的結果中，代工廠已經討論了針對該管道的執行。

We had strong close rates that we've set of that accelerated quarter on quarter.

我們設定了強勁的成交率，逐季加速。

And what we're seeing now is building that demanded for next fiscal year and the ability to cross sell through our install base finally have a platform that makes our patent the buying process for our customers, easy between software into exact and facilitates that expansion opportunity to go from our foundational model that we have today all the way through the cyber resilience offering that we've had we've announced.

我們現在看到的是建立下一財年所需的功能以及透過我們的安裝基礎進行交叉銷售的能力，最終擁有一個平台，使我們的專利成為客戶的購買流程，使軟體與精確之間變得容易，並促進擴展機會從我們今天擁有的基礎模型一直到我們已經宣布的網路彈性產品。

And Howard, suddenly it's quite honestly, it's too early to quantify in dollar terms the impact, but we're very, very positive about it from what we see it as the pipeline, because I'll give you that I will give you an anecdotal point of view the number of conversations I've had with the securities and see.

霍華德，老實說，現在用美元來量化影響還為時過早，但從我們將其視為管道的角度來看，我們對此非常非常積極，因為我會給你一個我會給你的我與證券進行過多次交談並看到的軼事觀點。

So since we launched on the member base has been unprecedented.

因此，自從我們推出以來，會員基礎是前所未有的。

We'll see, you know, really deep dive on the fact that, Tom, what we call shift, right, our ability to really take the customer journey and make sure that protection and then resilience of the core of how they think about cyber recovery is key.

我們將看到，你知道，真正深入探討這樣一個事實，湯姆，我們所說的轉變，對，我們真正採取客戶旅程的能力，並確保他們對網絡的看法的核心受到保護和彈性恢復是關鍵。

And we're having deep conversations for a proof of concepts more than we ever have because we've been able to really bring to life the completeness of the buck.

我們比以往任何時候都更深入地討論概念證明，因為我們已經能夠真正實現成本的完整性。

Thanks, guys.

多謝你們。

Really, really exciting stuff.

真的非常令人興奮的事。

Thanks, Howard.

謝謝，霍華德。

Thank you, Howard.

謝謝你，霍華德。

James Fish with Piper Sandler.

詹姆斯·菲什和派珀·桑德勒。

Hey, guys, great quarter.

嘿，夥計們，很棒的季度。

Just building off the last few that we've asked around cyber is owed resiliency strength.

僅僅建立我們在網路方面詢問的最後幾個問題就需要彈性強度。

Look, I know can be hard to really parse out what percentage of customers are buying the cyber buying for cyber security use cases at this point?

聽著，我知道目前很難真正分析出有多少比例的客戶正在購買用於網路安全用例的網路產品？

Or what's really the exposure to cyber budgets rather than kind of a traditional backup and recovery?

或者，與傳統的備份和復原相比，網路預算的真正風險是什麼？

How often is a chief information security officer, for example, in the room as you guys are in that final pit?

例如，當你們在最後的坑裡時，首席資訊安全官有多少次在房間裡？

I didn't know you have a subject.

我不知道你有一個主題。

I guess I just sort of touched on that in the previous Howard's question.

我想我剛剛在霍華德之前的問題中觸及了這一點。

We're seeing a lot of security conversations.

我們看到很多安全對話。

And by the way, we knew this was not first foray into security.

順便說一句，我們知道這不是第一次涉足安全領域。

We've executed on our product for a long time.

我們已經執行我們的產品很長時間了。

Last June, we announced a series of innovations and then we followed that up in November.

去年 6 月，我們宣布了一系列創新，並於 11 月跟進。

We continue to follow that up now.

我們現在繼續跟進。

No, you know, the data even in the even before cyber resilience, data protection with us, information security was point was there was nothing about it.

不，你知道，甚至在網路彈性、資料保護、資訊安全成為重點之前，資料就什麼都沒有了。

So we have security built into into our overall data protection platform, which we've extended end to end with our cyber resilience capable.

因此，我們將安全性內建到我們的整體資料保護平台中，並透過我們的網路彈性能力對其進行了端到端擴展。

Okay.

好的。

Let me give you let me give you an example.

讓我給你舉個例子。

And I mean, I've said this for a long time data protection and data security emerging.

我的意思是，我已經這麼說了很久了，資料保護和資料安全正在興起。

And I think that they have officially come together.

我認為他們已經正式走到了一起。

So if you're if you're recovering from a breach or a threat or an attack and you're recovering data, you can't just blindly bring data back.

因此，如果您正在從違規、威脅或攻擊中恢復並且正在恢復數據，則不能盲目地恢復數據。

You have to make sure that you're expanding that data for any vulnerability that may have, then that may have been added since you've backed up, okay or new and the environment it so threat scanning, which was atypical security, chip less capability, is completely integrated with recovery capabilities.

您必須確保針對可能存在的任何漏洞擴展該數據，然後這些數據可能是在您備份後添加的，好的或新的，並且環境如此威脅掃描，這是非典型的安全性，無晶片能力，與恢復能力完全整合。

So that's what we've been doing it.

這就是我們一直在做的事情。

So it's very hard to sort of segregate that's a business security versus business, and it is resilient.

因此，很難區分業務安全與業務，而且它具有彈性。

And we've been doing this for a while.

我們這樣做已經有一段時間了。

I mean, I can't I mean, yes, customers may talk to us and say, hey, we want to talk with data protection, but it's really with life of the fact that the freshness to protect against the cyber.

我的意思是，我不能，我的意思是，是的，客戶可能會與我們交談並說，嘿，我們想談論資料保護，但這確實是一個事實，即防範網路的新鮮感。

So it's all it's all one platform, one capabilities.

所以這一切都是一個平台、一個功能。

makes.

使。

I'm Sanjay, I appreciate that.

我是桑傑，我很感激。

And then, Gary, you had mentioned you guys are looking to invest on the go-to-market side.

然後，加里，您提到你們正在尋求在上市方面進行投資。

Just can you elaborate a little bit more on the details there?

能詳細說明一下那裡的細節嗎？

You know, how many heads or should we look?

你知道，我們該看多少個頭？

Should we be looking for you guys to add in this upcoming quarter in order to hit those objectives?

為了實現這些目標，我們是否應該在下個季度尋找你們的加入？

Is it going to be maybe I mean, inside sales team are looking more at kind of feel like that?

我的意思是，內部銷售團隊會更關注這種感覺嗎？

Yes.

是的。

Thanks, Jim, and good morning.

謝謝，吉姆，早安。

Yes, in some of my prepared remarks, the top of that investment.

是的，在我準備好的一些發言中，最重要的是該投資。

So I think foundational to what so again, I've always talked about, it's about profitable and responsible growth.

因此，我認為我一直在談論的基礎是獲利和負責任的成長。

So that's always that is our foundation.

所以這始終是我們的基礎。

But as I look out into next year, some of the investments that we're starting to make is that it's really be able to capitalize on on the growth opportunity that's in front of us.

但當我展望明年時，我們開始進行的一些投資是，它確實能夠利用我們面前的成長機會。

We're seeing the world of February wouldn't come together to give us.

我們看到二月的世界不會聚集在一起為我們帶來好處。

This is an amazing opportunity to hopefully accelerate growth.

這是一個絕佳的機會，有望加速成長。

And with that does require some level of and of investments.

這確實需要一定程度的投資。

And it's more about making sure that we continue to generate the demand around cyber and make sure that we are targeting the right buyers and the decision makers that can help drive the decisions related to cyber resilience and more and most importantly, continue to make sure we have the right resources in campaign around on around accelerating our SaaS, the SaaS model.

更重要的是確保我們繼續產生網路需求，並確保我們瞄準正確的買家和決策者，幫助推動與網路彈性相關的決策，更重要的是，繼續確保我們在圍繞加速我們的SaaS（SaaS 模式）的活動中擁有適當的資源。

Okay.

好的。

What some of these investments require that alignment, especially into the partner ecosystem for?

其中一些投資需要這種協調，尤其是在合作夥伴生態系統中的哪些投資？

Okay.

好的。

So if I look at the partner ecosystem is that with forces remote places this quarter and we want to capitalize on that momentum.

因此，如果我看看合作夥伴生態系統，本季的力量將偏遠，我們希望利用這一勢頭。

It's also building out the MS. peers, especially with our SaaS bucket of product.

它還正在構建 MS。同行，尤其是我們的 SaaS 產品。

And third is a lot of these large transformational cyber pod projects are totally integrated with the GSIs alliances.

第三，許多大型轉型網路吊艙計畫都與 GSI 聯盟完全整合。

Okay.

好的。

So if you're trying to think about some of the areas that are reported to us to capitalize on the growth there, the key areas for focus.

因此，如果您想考慮向我們報告的一些領域，以利用那裡的成長，那就是重點關注的領域。

makes sense.

說得通。

Great quarter, guys.

很棒的季度，夥計們。

Thank you.

謝謝。

Thank you.

謝謝。

Rudy Kessinger, D.A. Davidson & Co

魯迪·凱辛格，D.A.戴維森公司

Hey, guys, thanks for taking my questions.

嘿，夥計們，謝謝你回答我的問題。

And I'll add my congrats to what looks like a great quarter.

我還要對這個看起來很棒的季度表示祝賀。

Some really good numbers here.

這裡有一些非常好的數字。

On SaaS, you know, a grocery accelerated last quarter, a bit sustain this quarter, 77% SaaS ARR growth in net new debtors, or it's just really impressive.

在 SaaS 方面，您知道，一家雜貨店上季度加速成長，本季略有維持，淨新債務人的 SaaS ARR 成長了 77%，或者說這確實令人印象深刻。

Could you talk about when you look at the growth in metallic a quarter of the quarter, just what percent of that new SaaS ARR is coming from cross-selling versus new customers?

您能否談談，當您觀察金屬季度的成長時，新的 SaaS ARR 到底有多少百分比來自交叉銷售與新客戶？

And also, do you have any conversions in there yet?

另外，你那裡還有任何轉換嗎？

Or is it still mostly true organic ARR growth?

或者它仍然是真正的有機 ARR 成長嗎？

safety related?

安全相關？

Gary, good morning and nice to hear from you today.

加里，早安，很高興今天收到你的來信。

What the key things that we look at two related this asset as we look at sequentially from an ARR basis.

當我們從 ARR 基礎上按順序查看時，我們關注的兩個關鍵因素與該資產相關。

Okay.

好的。

And hitting the $152 million ARR, there are some sequential growth we had from last quarter.

達到 1.52 億美元的 ARR，與上季相比出現了一些環比增長。

This quarter was an all-time high.

本季創歷史新高。

So in a numerical, we had the high highest sequential increases that they are, which is shown to the acceleration we're seeing in the as as a service delivery model.

因此，從數字上看，我們的連續成長是最高的，這表明我們在服務交付模式中看到了加速。

And it's a combination of three things, as you highlighted. one is I'll call our land-and-expand new business, and we're still seeing the majority of that from upsell.

正如您所強調的，這是三件事的結合。一是我將把我們的土地和擴張新業務稱為「土地和擴張」新業務，我們仍然看到其中大部分來自追加銷售。

Okay.

好的。

So meaning on more and more of the same workloads are primary workloads.

因此，越來越多相同的工作負載是主要工作負載。

We're starting to see the cross sell start to commit, but it's still the on relatively less than the additional workloads of similar functionality.

我們開始看到交叉銷售開始投入使用，但它仍然比類似功能的額外工作負載相對較少。

Now in your opinion, you're seeing with the new cyber is on the offerings.

現在，在您看來，您看到的是新的網路產品。

We're setting ourselves up for that cross-sell opportunity as we get into the next in the next week.

當我們進入下週的下一個交叉銷售機會時，我們正在為交叉銷售機會做好準備。

So we look to next fiscal year for that.

因此，我們期待下一個財年的到來。

But the key driver on the 125% NRR as it has been upset.

但 125% NRR 的主要推動者卻感到不安。

The other key piece, though, is the maturing renewal cycle and driving to really strong gross renewal rate.

然而，另一個關鍵因素是成熟的續約週期和推動真正強勁的總續約率。

So we're doing a very good job of now maturing, hasn't fully mature renewal rental cycle as well.

因此，我們在成熟方面做得非常好，但續約租賃週期也尚未完全成熟。

So those pieces are help driving that.

所以這些部分有助於推動這個目標。

That momentum.

那個氣勢。

And really, it's Sanjay and even today directly ask the question, but new customers as part of our land on new customer acquisition momentum with our SaaS workload is growing in the hundreds every every quarter and the attach, you know, the cross-sell of software with was that is actually quite something we appreciate and are working on because because our customers but I would just also a testimony to our platform strategy as customers move it up by about.

事實上，是Sanjay，即使在今天也直接問了這個問題，但新客戶是我們新客戶獲取勢頭的一部分，我們的SaaS 工作負載每個季度都會增長數百個，而且附加的，你知道的，交叉銷售軟體，這實際上是我們非常欣賞並正在努力的事情，因為我們的客戶，但我也只是隨著客戶將其提升約來證明我們的平台策略。

So they start with one workload and then quickly move into US data center based workload because you may have you may have product that you want to back up in a different way in the data center.

因此，他們從一個工作負載開始，然後快速轉移到基於美國資料中心的工作負載，因為您可能擁有想要在資料中心以不同方式備份的產品。

So not only do we look at cross-sell within within the SaaS offers, but also cross-selling between software and SaaS.

因此，我們不僅關注 SaaS 產品內的交叉銷售，還關注軟體和 SaaS 之間的交叉銷售。

And having a single platform with was the capabilities we have enables that hybrid journey for customers.

擁有單一平台是我們為客戶實現混合旅程的能力。

So they can start anywhere either in the cloud or on-premise and then go both ways that that that's a key differentiator for us.

因此，他們可以從雲端或本地的任何地方開始，然後雙向進行，這對我們來說是一個關鍵的差異化因素。

So really that's all true growth.

所以這才是真正的成長。

There's one last point you to your question.

你的問題還有最後一點。

I wanted to finish on that.

我想就此結束。

What we're seeing a metallic is not cannibalizing over from converting our install base.

我們所看到的金屬並沒有因為改變我們的安裝基礎而被蠶食。

You asset-specific, you asked that question specifically, and we're not that's not part of the current the current play or what's driving the business.

您針對特定資產，專門提出了這個問題，而我們並不是說這不是當前遊戲的一部分，也不是推動業務的因素。

This is all about net new business.

這都是關於淨新業務的。

Great.

偉大的。

That's all very helpful color.

這些都是非常有用的顏色。

I guess just one quick last one on SaaS.

我想這只是關於 SaaS 的最後一篇。

Again, you mentioned that the record net new SaaS ARR in Q three.

您再次提到在第三季中創下了淨新 SaaS ARR。

If I look back last year seasonality, your net new metallic air are in Q4 was a good step up from two three.

如果回顧去年的季節性，第四季的淨新金屬空氣量比二三步驟有了很大的進步。

Should we expect to see that play out again this year?

我們是否應該期待今年再次看到這種情況？

I know you're not guiding specifically the SaaS ARR, but it just gives you a month into the quarter.

我知道您並沒有專門指導 SaaS ARR，但它只是為您提供了該季度的一個月時間。

So how should we expect net new air SaaS ARR to come in for the March quarter versus December?

那麼，與 12 月相比，我們應該如何預期 3 月季度的新空氣 SaaS ARR 淨值呢？

I'll take everybody's Gary gave, I think the seasonality sold last year from fiscal Q3 to Q4.

我會採納每個人的加里給的，我認為去年從第三財季到第四財季銷售的季節性。

It's there for something like we would expect for this year.

它的存在就像我們今年所期望的那樣。

I think we saw roughly a $15 million or sosequential growth.

我認為我們看到了大約 1500 萬美元或連續的成長。

I think something like that or slightly more at what our objective would be to keep that momentum going.

我認為類似的事情或稍微多一點的事情就是我們的目標是保持這種勢頭。

We have a strong pipeline going into the quarter, and we're seeing our close rates continue to improve as well.

我們在本季度擁有強大的管道，我們看到我們的成交率也在繼續提高。

So we're optimistic about where we're going to land for the fiscal year.

因此，我們對本財年的目標持樂觀態度。

We're not calling it, but we're trying to get.

我們不是在呼喚它，而是在努力實現它。

Okay, great.

好的，太好了。

That's it for me.

對我來說就是這樣。

Thanks.

謝謝。

Thanks for taking the questions again and congrats again.

感謝您再次提出問題並再次恭喜。

Thank you.

謝謝。

Eric Martinuzzi, Lake Street.

埃里克·馬丁努齊，湖街。

I noticed a nice pickup on the Americas region up 16% year on year with that kind of a broad based across verticals or was there any particular verticals that stood out for you?

我注意到美洲地區的表現不錯，同比增長了 16%，在各個垂直領域都有廣泛的基礎，或者有什麼特別的垂直領域對您來說很突出嗎？

Yes, Eric, this is Gary.

是的，艾瑞克，這是加里。

I'd like to hear from you again this morning as well our Americas, but had really strong quarter from a total perspective.

今天早上我想再次收到您的來信，以及我們的美洲地區，但從整體角度來看，該季度的表現非常強勁。

Our Americas business was up 16% year over year, really driven by that subscription revenue as well.

我們的美洲業務年增 16%，這也是訂閱收入的推動因素。

Just the total subscription revenue in the Americas was up 43% year over a year.

光是美洲地區的訂閱總收入就比去年同期成長了 43%。

And what we're seeing is really strong traction on some of the large on the larger deals, larger deals on renewals as well as time goes on larger land that is in land and expand deals are new, but I'm sorry, our big they also when we say kind of those term software deals over $100,000 for up almost 50% year over year.

我們看到的是，一些大型交易、更大的續約交易以及隨著時間的推移，更大的土地上的交易和擴展交易都是新的，但我很抱歉，我們的大交易確實有很強烈的吸引力。當我們說軟體交易超過 100,000 美元，同比增長近 50% 時，它們也是如此。

So it's all tied to driving the cyber resilience message and making sure that we are helping our customers solve those difficult problems.

因此，這一切都與推動網路彈性資訊並確保我們幫助客戶解決這些難題有關。

Not vertical-specific.

不針對特定垂直領域。

Last quarter, we talked a lot about added this quarter.

上個季度，我們談論了很多關於本季添加的內容。

It was more broad-based across Bert across the vertical stream tied to executing in the renewal stream and the larger deals.

它在 Bert 的垂直流中具有更廣泛的基礎，與更新流和更大的交易的執行相關。

Got it.

知道了。

And then for the buyback program, I know you haven't given us a view for FY25, but if you've been relatively consistent over the past couple of years about this greater than 75% of the annual free cash flow, is that the intent going forward here you that?

然後對於回購計劃，我知道您還沒有向我們提供對 25 財年的看法，但如果您在過去幾年中對超過 75% 的年度自由現金流的看法相對一致，那麼您的意圖是什麼？

Are you going to revisit that when you the US at the current plan?

當你按照目前的計畫去美國時，你會重新考慮這個問題嗎？

Yes.

是的。

So our current guidance will continue to hold.

因此，我們目前的指導意見將繼續維持。

We believe right now that our buybacks are a key part of our responsible growth strategy in and, you know, our publicly facing stated guidance of at least 75% of free cash flow is a good modeling trend.

我們相信，目前我們的回購是我們負責任的成長策略的關鍵部分，而且您知道，我們公開聲明的至少 75% 自由現金流的指導是一個很好的建模趨勢。

As you can kind of tell through the nine months, we're well ahead of that were north of 100%, right, of free cash flow because we're opportunistic also in the market, and we see the value that we have as a company and our ability to continue to drive shareholder value.

正如你可以在這九個月中看到的那樣，我們遠遠領先於 100% 的自由現金流，因為我們在市場上也是機會主義的，我們看到了我們作為一個公司所擁有的價值。公司以及我們持續推動股東價值的能力。

Thanks for taking my questions.

感謝您回答我的問題。

Jason Ader with William Blair.

傑森·阿德和威廉·布萊爾。

Thank you.

謝謝。

Good morning, guys.

早上好傢伙。

Just wanted to ask about the revenue growth outlook.

只是想問一下收入成長前景。

I know you've talked about the split 6% to 7% growth cagar from the 2021 Analyst Day, a much richer Civeo.

我知道您談到了 2021 年分析師日的 6% 至 7% 成長 cagar，這是一個更豐富的 Civeo。

Maybe you've updated that.

也許你已經更新了。

But just wanted to get a sense of whether you are reiterating that you think it could be higher.

但只是想了解一下您是否重申您認為它可能會更高。

And then more specifically, as we think about 2025 FY25, without pinning you down on guidance right now, do you think the growth could be higher in revenue to be higher in '25 and '24?

更具體地說，當我們考慮 2025 財年（2025 財年）時，如果現在不給您指導，您認為 25 年和 24 年收入成長是否會更高？

Hey, Jason, it's Gary.

嘿，傑森，我是加里。

Good morning.

早安.

I will get a couple a couple of the employees of our revenue growth for us.

我將為我們的收入成長找幾名員工。

It is ultimately an output of what we're seeing from an ARR perspective.

它最終是我們從 ARR 角度看到的結果。

So let me start let me start there, and we're seeing really strong growth.

讓我從這裡開始吧，我們看到了非常強勁的成長。

If you look at our ARR growth of 17% this quarter on is really strong.

如果你看看我們本季 17% 的 ARR 成長確實非常強勁。

And we're seeing that across all of our core businesses.

我們在所有核心業務中都看到了這一點。

Our Q4 guidance implies that will end up this fiscal year on the top line, right in that 6% revenue growth.

我們第四季的指導意味著本財年最終將實現 6% 的收入成長。

We have on an amazing opportunity to accelerate as we move forward.

我們有一個絕佳的機會來加速前進。

Obviously, we have we have not we have not given guidance for FY25 yet.

顯然，我們有，我們沒有，我們還沒有給 25 財年的指導。

Clearly, our expectation that FY25 growth will be higher than FY24 quarter.

顯然，我們預計 25 財年的成長將高於 24 財年季度。

And as we start to get out of work towards our next call next quarter for give a little more clarity on full year [FY24] annual results.

當我們開始下一次的下一次電話會議時，我們將更清楚地了解全年 [FY24] 年度業績。

But we but most importantly is we see the opportunity in the market that key.

但我們最重要的是我們看到了市場中的機會這一關鍵。

So as we see the opportunity to the market, we can continue to build on momentum from the quarter.

因此，當我們看到市場機會時，我們可以繼續利用本季的勢頭。

We just had.

我們剛剛有過。

And clearly, we're expectation is that our growth next year will be higher than this year on the top line culture.

顯然，我們預計明年的營收成長將高於今年。

Okay, great.

好的，太好了。

And then up another one for you.

然後再給你補一張。

Gary, can you give us a sense of how much revenue in a given quarter is actually effectively, let's call it in the bag that took petty on kind of day one of the quarter and in terms of and I would include renewals, let's just assume you're going to get the renewal there.

加里，您能否讓我們了解一個特定季度的實際有效收入有多少，讓我們將其稱為在該季度第一天花費很少的收入，就我而言，我將包括續訂，讓我們假設您將在那裡獲得續訂。

I know you don't always get 100%, but let's just assume you're going to get the renewal and then committee contracts, which I guess would be the airport and SaaS.

我知道你並不總是能獲得 100% 的合同，但我們假設你將獲得續約合同，然後獲得委員會合同，我猜這將是機場和 SaaS。

So those things combined, how much of your revenue in a given quarter was actually coming from those sources today?

因此，將這些因素結合起來，您在特定季度的收入中有多少實際上來自今天的這些來源？

We don't quantify specifically, right.

我們不具體量化，對吧。

I'll say would be with the contractual revenue would have been the behavioral and acute well are at day one day one of the quarter, though, as you look at a couple of key pieces, we disclose our fast there are configured that they are divided by roughly four and you could almost guaranteed you get that piece and the other pieces, customer support, right, that very predictable.

我想說的是，合約收入將是本季度第一天的行為和急性狀況，不過，當您查看幾個關鍵部分時，我們披露了我們的快速配置，它們是除以大約四，您幾乎可以保證你得到那部分和其他部分，客戶支持，對吧，這是非常可預測的。

So when you look at just those two pieces that and in customer support, you have a very strong starting point for the quarter.

因此，當您僅查看這兩個部分以及客戶支援時，您會發現本季有一個非常強勁的起點。

It how we see the renewal piece then which drive leverage in the incremental that goes over our land play.

這就是我們如何看待更新部分，從而推動我們土地開發增量中的槓桿作用。

The same business, I think we're up close is that on a relative basis, each quarter becomes more and more predictable than the previous with some of the foundational pieces.

我認為我們很接近的同一業務是，相對而言，每個季度的一些基礎部分都比上一個季度變得越來越可預測。

And that will be kind of focuses on increasing product of predictability.

這將側重於提高產品的可預測性。

Sequentially each quarter goes so me.

依序每季我都是如此。

Okay.

好的。

Let me just ask us in a slightly different pattern other than answer, if I'm not sure I heard of your $100,000 plus deals now today, how much our actual renewals versus?

除了回答之外，讓我以稍微不同的方式問我們，如果我不確定我今天聽說過你們的 100,000 美元以上的交易，那麼我們的實際續訂金額是多少？

new basically new business?

新的基本上是新的業務？

Both for that?

兩個都是為了這個？

I think we can get into specifics yet as we're not going into those specifics, but they're both.

我認為我們可以討論具體細節，因為我們不會討論這些細節，但它們都是。

They're both very healthy contributions.

它們都是非常健康的貢獻。

And it's obviously a lot higher today than it was a couple of data to come.

今天的數據顯然比接下來的幾個數據高得多。

Yes, that's right.

恩，那就對了。

Thank you guys.

感謝你們。

Your next question comes from the line of Tom Blakey with KeyBanc Capital Markets.

您的下一個問題來自 KeyBanc Capital Markets 的 Tom Blakey。

Good morning, guys, and a great great execution here and solid results.

早安，夥計們，這裡有出色的執行力和紮實的成果。

Congratulations on.

恭喜。

Just wanted to maybe piggyback on Jason there on the potential renewal of genuine.

只是想藉助傑森的力量來了解正版的潛在更新。

Pretty clear about saying that fiscal 3Q just past was a very large opportunity for the company and at the low the largest, I think Gary said in that fiscal 4Q would be lower on managers and literally just assets.

非常明確地說，剛過去的第三財季對公司來說是一個非常大的機會，而且是最大的機會，我認為加里在第四財季表示，經理和資產實際上會減少。

But what will the renewal opportunity that it seems like you have a solid grasp around the sort of renewal opportunity in fiscal '25 be bigger or partial year of the same as fiscal '24.

但是，您似乎對 25 財年的續約機會有充分的把握，續約機會會比 24 財年更大或部分年份更大。

Got it.

知道了。

So I'm a Tom Carey, and I'll jump in as me, give a little maybe different foundational pieces that will help us out of that by '25.

所以我是湯姆凱裡（Tom Carey），我會像我一樣加入進來，提供一些可能不同的基礎部分，這將幫助我們在 25 年前擺脫困境。

Fiscal Q3 is typically our largest because it's tied to all of the calendar year.

第三財季通常是我們最大的財季，因為它與整個日曆年有關。

And right deals we've done over a period in fiscal Q4 will be moving money.

我們在第四財季一段時間內完成的正確交易將轉移資金。

Well, we're not significantly but lower.

好吧，我們並不顯著，但較低。

Okay.

好的。

So that means that the seasonality of the second half is always stronger than the first half of any fiscal year.

因此，這意味著任何財年下半年的季節性總是強於上半年。

And that trend is I look into next year will continue on an overall basis.

我預計明年這一趨勢將在總體上繼續下去。

I would expect the renewal population next year to be larger than it will happen later this year, but not by the same amount that we saw this year, right?

我預計明年的更新人口會比今年稍後的人口更多，但不會達到今年的數量，對嗎？

This year had a larger sequential year-over-year.

今年的環比增幅更大。

Next will be larger, but to lead to a much lesser extent,

接下來會更大，但導致的程度要小得多，

much less than fiscal 2020 target by the relative to fiscal '24 by higher Gasco 24.

遠低於 2020 財年目標，相對於 24 財年更高的 Gasco 24。

Nonetheless, that's helpful.

儘管如此，這還是有幫助的。

Regarding maybe so they can get.

或許這樣他們就能得到。

And maybe you could start with the context of the expanding opportunity set that you have here with regard to cyber resilience.

也許您可以從網路彈性方面不斷擴大的機會集開始。

You know, we we agree with you in terms of the convergence of data recovery and data security last couple of years here on top of my talk to us about like maybe incentives and the capacity that you have internally to have an icon involved in terms of attacking opportunities you climb up to the.

你知道，我們同意你過去幾年在數據恢復和數據安全融合方面的觀點，除了我與我們的談話之外，也許還有激勵措施以及你內部擁有一個圖標參與的能力進攻機會你就爬上去了。

So I'll kind of sweet there.

所以我會在那裡有點甜蜜。

Sorry, what was the last part of your question?

抱歉，您問題的最後一部分是什麼？

So in terms of in addition to incentives, what kind of capacity do you have for need to be our continued build out our two component of your of your approach to see So swing in terms of discussions with the social,

因此，除了激勵措施之外，您還需要具備什麼樣的能力來繼續建立您的方法的兩個組成部分，以便在與社會的討論方面進行搖擺，

I mean, some incentives, I mean, there have there, you know, we continue to fine tune that as needed, obviously within the within the comp plans.

我的意思是，有一些激勵措施，你知道，我們繼續根據需要進行微調，顯然是在補償計劃內。

But really what's what's more important is the investment and focus we've put around enabling our sales force and our ecosystem on our new capabilities around cyber resilience, kind of unprecedented, how much time and effort we put and cost we've put into getting that getting that right.

但實際上，更重要的是我們投入的投資和重點，使我們的銷售人員和我們的生態系統能夠利用我們圍繞網路彈性的新能力，這是前所未有的，我們投入了多少時間和精力以及成本來獲得做對了。

And that's an ongoing journey.

這是一個持續的旅程。

We've also brought in some really, really seasoned securities, we call them feel CTOs of to really enable our customer conversations alongside our our field.

我們還引入了一些非常非常經驗豐富的證券，我們稱他們為首席技術官，以真正推動我們的客戶與我們的領域進行對話。

We've got some specialists as well that that understand security inside now practitioners.

我們還有一些專家了解現在從業人員內部的安全性。

We've also announced recently a cyber cyber resilience board, which has which is a board of absolute luminaries in the field of cyber security, headed by Melissa Hathaway, who was an advisor in and part of two presidential administrations on security and cyber cyber security.

我們最近也宣布成立網路彈性委員會，由網路安全領域的絕對傑出人士組成，由梅麗莎·海瑟薇 (Melissa Hathaway) 領導，她曾擔任兩屆總統政府的安全和網路安全顧問和成員。

So we're really ramping to not just the product, but also the capabilities, the thought leadership around it and enablement, um, you know, within that.

因此，我們真正致力於的不僅僅是產品，還有能力、圍繞產品的思想領導和支持，嗯，你知道，其中。

So there's a lot of work going on.

所以還有很多工作正在進行中。

And yes, and I'd be I'd be wrong for me to forget, we've also, as part of the platform, it's a subtlety, but it's an important piece, which is we've actually gone.

是的，如果我忘記了，我們也是錯誤的，作為平台的一部分，這是一個微妙的部分，但它是一個重要的部分，我們實際上已經離開了。

We've shifted left.

我們已經向左移動了。

In other words, we have integrated and continue to integrate and continue to increase the ecosystem connections into what we call the identifying, defend the perimeter security costs and making sure that the technology our customers used to to defend the perimeter and and manage it is something we integrate what because it makes both sides the Recovery and Resilience side, which we do.

換句話說，我們已經整合並繼續整合並繼續增加生態系統連接，以實現我們所說的識別、防禦週邊安全成本，並確保我們的客戶用於防禦週邊和管理週邊的技術是有效的。我們整合什麼，因為它使雙方都成為恢復和恢復力的一方，而我們就是這樣做的。

And you know, the defendant identified side that our partners to and working together, we make the customer safer.

你知道，被告認定我們的合作夥伴共同努力，我們讓客戶更安全。

And so, you know, there's a lot of work that we've been asked, not that we announced at all in November, but we've been actively for a long, long time for a lot of ground lost to do a lot to do everybody.

所以，你知道，我們被要求做很多工作，並不是我們在 11 月份宣布的，但我們已經積極地進行了很長一段時間，為了取得很多成果，我們失去了很多工作。做每個人。

We hire, train and bring in with the security backup quite simple as simple as that as a litmus test.

我們僱用、培訓和引入安全備份非常簡單，就像試金石一樣簡單。

The The follow-up would just be with regarding to security budgets at firms who have had yield higher than ever expanding probably for the last decade or more.

後續行動將只涉及那些在過去十年或更長時間裡收益率比以往任何時候都高的公司的安全預算。

Do you envision that this is , your initial conversations are along those lines.

您是否認為這是這樣的？您最初的對話就是沿著這些思路進行的。

You mentioned TCO in your preamble.

您在序言中提到了 TCO。

Is this a calm bulk kind of like taking wallet share and consolidating vendors?

這是一種平靜的行為，就像奪取錢包份額和整合供應商一樣嗎？

Or is this more of a whole it was at the beginning?

還是這更像是一開始的整體？

Or is this more measures to the continued expansion?

或者說這是為了繼續擴張而採取的更多措施？

I think, you know, Tom, I think the fact that the two pieces that have traditionally been and separate upcoming together from a solution point, if you'd like to our platform, just we've seen customers at the table with the IT organization, the infrastructure team as well as the security.

我認為，湯姆，我認為傳統上分離的兩個部分即將從一個解決方案點結合在一起，如果您想要我們的平台，我們已經看到客戶與 IT 人員坐在一起組織、基礎設施團隊以及安全性。

And they're working together rightfully so to solve the complex issue, a hard problem.

他們正在正確地合作，以解決這個複雜的問題，一個難題。

And and I think they're quite obviously in the budget sort of months together in many customers to say, we feel that this is not just the data data protection based on our data security be it has to be together.

而且我認為他們在預算中很明顯在許多客戶中一起度過了幾個月，我們認為這不僅僅是基於我們的資料安全的資料保護，它必須在一起。

So we're I think we, you know, I think we're actually seeing deficiencies with customers with the approach we're taking.

所以，我認為我們，你知道，我認為我們實際上看到了客戶所採取的方法的缺陷。

It does make it easier because you're not you don't have internal of internal sort of production inside of customer.

它確實使它變得更容易，因為你不是客戶內部的內部生產類型。

Okay.

好的。

That's helpful.

這很有幫助。

And just one very quick one side.

而且只有一邊非常快。

I have four questions there, but the gross margin guidance was impressive.

我有四個問題，但毛利率指導令人印象深刻。

Gary, just maybe talk about the moving pieces there, specifically with regard to McNeil metallic in the cloud because you're scaling here would be helpful and gentlemen, thank you, guys.

加里，也許只是談談那裡的移動部分，特別是關於雲中的麥克尼爾金屬，因為你在這裡擴展會很有幫助，先生們，謝謝你們。

Yes, for sure.

是肯定的。

And I agree up that question with you separately.

我單獨同意你的這個問題。

Gross margin perspective, getting stability in the gross margin is important and there's two pieces. one is when you see acceleration in our subscription and some extra, the chunk of that revised subscription term software feel good renewal and using the same growth, we're going to see gross margin momentum.

從毛利率角度來看，毛利率的穩定性很重要，有兩個部分。一個是當你看到我們的訂閱加速以及一些額外的情況時，修訂後的訂閱期限軟體的大部分感覺很好更新並使用相同的增長，我們將看到毛利率勢頭。

The key pieces, though, to our gross margin in getting stability and leverage our that gross margins, we're working very clearly towards our goal of getting into that 70% plus range of gross margin a year ago.

不過，對於我們的毛利率保持穩定並利用我們的毛利率來說，關鍵在於我們正在非常明確地努力實現一年前毛利率達到 70% 以上的目標。

We were in the 50%.

我們是那50%。

We're now well on our way towards that objective over time.

隨著時間的推移，我們現在正朝著這個目標穩步前進。

Time of getting to 70% plus.

達到70%以上的時間。

And you're starting to see the leverage that we're getting right now on driving improvements in the gross margin on that.

您開始看到我們現在在推動毛利率改善方面所獲得的槓桿作用。

Great.

偉大的。

Thanks, guys.

多謝你們。

Quarter.

四分之一.

Thank you.

謝謝。

My apologies.

我很抱歉。

Your next question comes from the line of Aaron Rakers of Wells Fargo.

你的下一個問題來自富國銀行的 Aaron Rakers。

Yes.

是的。

Thanks, guys.

多謝你們。

Thanks for the quick follow-up.

感謝您的快速跟進。

I'll be brief here.

我在這裡簡單說一下。

Obviously, a lot of momentum around the cybersecurity and the resilience attributes of the business.

顯然，圍繞網路安全和業務彈性屬性的動力很大。

I'm just curious like architecturally, as we think about the data center and what's evolving overall around AI?

我只是很好奇，就像在架構上一樣，當我們思考資料中心以及圍繞人工智慧的整體發展時，我會想到什麼？

Are you starting to see any engagements with customers that you can just simply say that AI. is actually driving this.

你是否開始看到與客戶的任何互動，你可以簡單地說人工智慧。實際上正在推動這一點。

It's kind of change of sentiment or investment cycle for your business as as enterprises kind of scrubbed through and think about their data and how they're going to leverage that more a from an AI perspective going forward?

這對您的企業來說是一種情緒或投資週期的變化，因為企業會仔細審視並思考他們的數據，以及他們將如何從人工智慧的角度進一步利用這些數據？

I mean the answer the short answer is you can't have a conversation with RAI. coming up.

我的意思是，簡短的回答是你無法與 RAI 對話。接下來。

That's just the fact that we've done is we've kind of turn I'll turn to your question on its head a little bit.

事實上，我們已經做了一些轉變，我將稍微轉向你的問題。

And what we've done is look at what we can do for customers that make their life better.

我們所做的就是專注於為客戶做些什麼，讓他們的生活變得更美好。

Because of you know, we've had a I and our technology for many years with mostly mostly in machine learning type and automation type scenarios.

因為你知道，我們多年來一直擁有自己的技術和技術，主要用於機器學習類型和自動化類型場景。

Now with the newer generation of AI, our first foray into really delivering value, not just watching that technology, but truly delivering value for them to three the primary buckets. one is operational, scale and Brazilians, giving them the ability to really work with large volumes of data with deep degrees of automation.

現在，隨著新一代人工智慧的出現，我們第一次嘗試真正提供價值，不僅僅是專注於該技術，而是真正為它們的三個主要領域提供價值。一是營運、規模和巴西人，使他們能夠真正以深度自動化的方式處理大量數據。

Okay.

好的。

And so the operational AI just enables that, and that's in the product today.

因此，操作人工智慧恰好能夠實現這一點，而這已經存在於今天的產品中。

Second is really threat and risk management and assessment.

其次是真正的威脅和風險管理和評估。

So even though the number of risks that threaten the volume of data that's been written and restored a I can do a wonderful job helping customers really truly anomaly detection really do the CyberArk to get real cyber resilience.

因此，即使存在威脅已寫入和恢復的資料量的風險數量，我也可以出色地幫助客戶進行真正的異常檢測，真正讓 Cyber​​Ark 獲得真正的網路彈性。

So we've built a lot of that into the product.

因此，我們在產品中融入了許多內容。

And the one that I think it's getting great traction, which I think has immense value is predictive recovery.

我認為它受到很大關注並且具有巨大價值的是預測性復甦。

The complexity of recovering data with absolutely solid clean backups for a customer who has just been breached is very complex because of the sophistication of the regions and a time span between entry and payload.

由於區域的複雜性以及進入和有效負載之間的時間跨度，為剛遭到破壞的客戶使用絕對可靠的乾淨備份還原資料的複雜性非常複雜。

And so we're using AI to help customers really get a great starting point.

因此，我們正在使用人工智慧來幫助客戶真正獲得一個良好的起點。

And then and then applying AI across a clean room recovery scenario to really help customers truly resilient and recover.

然後在無塵室恢復場景中應用人工智慧，真正幫助客戶真正恢復活力和恢復。

At the end of the that's what matters.

最後這才是重要的。

And so these are the three I'm oversimplifying it, but these are the three big buckets under which we've applied a I end up in the first Avatar of our technology and is continuing.

所以這三個是我過於簡化的，但這是我們應用的三個大桶，我最終成為我們技術的第一個阿凡達，並且仍在繼續。

We have a very rich and robust roadmap.

我們有一個非常豐富和強大的路線圖。

And everything I've talked about exists.

我所說的一切都存在。

So there's no there's no real washing.

所以沒有真正的洗滌。

It should book.

應該預訂。

There's a lot going on right now.

現在發生了很多事情。

And we have to be seen what we have to be very, we think, a very conservative approach around this because at the end of the day, it's mission critical data that we're working with us.

我們認為，我們必須採取非常保守的方法來解決這個問題，因為歸根結底，我們正在與我們合作的是關鍵任務數據。

This concludes the question and answer session.

問答環節到此結束。

I will turn the call over to Michael Melnyk for closing remarks.

我將把電話轉給 Michael Melnyk 致閉幕詞。

Thanks, everyone, for joining this morning.

謝謝大家今天早上的加入。

As a reminder, the Investor Relations website, a presentation summarizing our key KPI's feel free to reach out to me during the quarter with any questions.

提醒一下，投資者關係網站上有一個總結我們關鍵 KPI 的演示文稿，如有任何問題，請在本季度隨時與我聯繫。

Thanks very much.

非常感謝。

Thank you.

謝謝。

This concludes today's conference call.

今天的電話會議到此結束。

We thank you for joining.

我們感謝您的加入。

You may now disconnect your lines

現在您可以斷開線路