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Analyst
DJ Hynes
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q2 (7 quarters; questions recorded in 6).
- Questions
- 9on tracked calls
- Challenge rate
- 22%2 of 9 questionsLimited sample
- Companies
- 2questioned at least once
- Reporting periods
- 6with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 9 of 9 questions from 2 companies
VEEVVeeva Systems Inc.5 questions · 5 reporting periods · 1 of 5 challenging
Calendar 2026 Q2
I'm curious if you've had any update on top 20 CRM migration decisions or discussions that you're having.
Show response
Paul gave detailed scorecard: 10 Veeva wins vs 6 Salesforce, 4 left, over 150 live customers, 40+ migrations, 80%+ win rate.
Calendar 2026 Q1
do you expect your agentic AI offerings to be immediately accretive to margins? Or will that take time
Show response
Brian said token-based pricing provides some predictability but may evolve. Focus is on product excellence and value creation rather than exact margin structure. Not a material impact on FY27; will see how it plays out in forward years.
Calendar 2025 Q4
when do you lean in on those products a little bit more with the top 20
Show response
Paul said dedicated teams allow focusing on multiple areas simultaneously. Migration creates both slowdowns and openings, customers rethinking data and analytics during transition. IQVIA partnership creating new opportunities in Network and Nitro.
Calendar 2025 Q3
can you just speak to the economics of those very early large Vault CRM customers
Show response
Peter said revenue is roughly neutral but with simplified packaging. Short-term COGS slightly higher due to transition costs (running both systems during cutover). Long-term COGS will be better with Salesforce royalty eliminated.
Calendar 2024 Q4
is there any sense that Salesforce is showing up more often?
Show response
Paul said Salesforce is the primary competitor but doesn't see increased frequency. Noted IQVIA is out and Salesforce doesn't have a product yet.
TEAMAtlassian4 questions · 4 reporting periods · 1 of 4 challenging
Calendar 2026 Q2
How do you separate kind of the incremental impact of Rovo from the possibility that your most engaged customers are simply the earliest adopters?
Show response
Mike rejected the early-adopter framing, citing over 80% Fortune 500 Rovo usage and expansion in every customer meeting. He described a super-cycle where deeper Teamwork Graph connection improves results, driving expansion across business teams and a $14 billion in-base addressable opportunity.
Calendar 2025 Q3
whether you're raising the cloud revenue guide only on the back of better than forecast data center to cloud migration
Show response
Joe confirmed cloud guide raise reflects only migration strength and Q1 outperformance. Conservative risk-adjusted approach maintained on all other organic drivers. Mike added expansion rates at 120% NRR are not changing, cloud business fundamentally strong beyond migrations.
Calendar 2025 Q2
how should we think about the bridge from MAU growth in Rovo to eventual more robust monetization?
Show response
Joe said FY26 guidance includes very nominal Rovo consumption. Mike detailed multiple monetization vectors: Teamwork Collection uplift, Rovo SKU for non-Atlassian users, consumption pricing across Forge/Bitbucket/JSM/AI credits, premium/enterprise edition growth ~40% YoY.
Calendar 2024 Q4
can you just unpack a bit of what underpins those assumptions? There are a number of moving parts here in Q3 with the pricing changes
Show response
Joe detailed DC growth drivers (pricing, seat expansion, cross-sell) offset by challenging prior-year comps and macro uncertainty. No unusual deal pull-forward observed.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| VEEV Veeva Systems Inc. | 5 | 20%1 of 5 questions |
| TEAM Atlassian | 4 | 25%1 of 4 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2024 Q4 | 2 | 50%1 of 2 questions | 2 |
| 2025 Q1 | No questions recorded | — | — |
| 2025 Q2 | 1 | 0%none of 1 question | 1 |
| 2025 Q3 | 2 | 0%none of 2 questions | 2 |
| 2025 Q4 | 1 | 0%none of 1 question | 1 |
| 2026 Q1 | 1 | 0%none of 1 question | 1 |
| 2026 Q2 | 2 | 50%1 of 2 questions | 2 |
- 2024 Q42 questions · challenge rate 50% (1 of 2 questions) · 2 companies
- 2025 Q1No questions recorded
- 2025 Q21 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q32 questions · challenge rate 0% (none of 2 questions) · 2 companies
- 2025 Q41 question · challenge rate 0% (none of 1 question) · 1 company
- 2026 Q11 question · challenge rate 0% (none of 1 question) · 1 company
- 2026 Q22 questions · challenge rate 50% (1 of 2 questions) · 2 companies
Topics
Topics tagged on this analyst’s questions.
- Cloud & AI4
- Revenue Growth4
- Competitive Dynamics3
- Product Launch3
- Margin2
- Pricing2
- Demand1
- Guidance Reliability1