Gregg Moskowitz

James noted broad-based seat expansion in core Jira and Confluence (roughly two-thirds knowledge workers) alongside Teamwork Collection growth. Mike said customer signals point to more developers over five years plus growth in non-developer technology builders in finance, HR, and marketing.

James attributed cloud outperformance to cross-sell (Teamwork and Service Collections) and seat expansion, not migrations. Teamwork Collection best vehicle for AI credits (10x vs standalone). Mike cited NRR north of 120% ticking up for third or fourth consecutive quarter. AI blurring boundaries between teams expands platform reach.

Mike framed Anthropic as partner, not competitor. CoWork uses Atlassian MCP server to access Teamwork Graph. New AI tools require data and exchange points that Atlassian provides. Human-AI collaboration remains central, approval workflows and business processes accelerated but not eliminated.

Mike confirmed cohort is statistically relevant without giving specific size. Joe stated business fundamentally stronger, will show up in better bookings and better CRPO, driven by Q1 outperformance and greater migration volume.

Mike cited momentum in tool consolidation, continued business user segment growth, Teamwork Collection separating software from collaboration offerings, Loom driving adoption in sales teams, and Rovo connectors enabling cross-functional AI workflows.

Joe confirmed deal timing impacted cloud revenue growth with revenue expected in Q4. Data center growth impacted by fewer multi-year agreements and shorter average duration.

Mike said C-level access is not a problem. Cited a large telco wanting Atlassian as top-four strategic vendor, reflecting platform breadth and system-of-work value proposition.

Mike attributed the innovation pace to cloud platform maturity enabling faster product development, rather than structural organizational changes.

Jay cited three differentiators: Zscaler's proprietary telemetry of over 750 billion daily transaction logs as the starting point for SecOps, an agent-native architecture where AI agents detect and investigate at machine speed rather than human-driven automation, and closed-loop remediation within minutes via integration with the Zero Trust Exchange. He expects meaningful contribution starting in the second half of fiscal 2027 and into fiscal 2028.

Jay acknowledged EMEA execution gaps but did not detail specific issues. Noted competitive dynamics are not fundamentally different across regions and expressed confidence in turning EMEA around.

Jay explained metered pricing covers Zero Trust Branch, Cloud, AI security (token-based), and even some user use cases (contractors, guest Wi-Fi, B2B). Expects metered share to grow, especially with billions of AI agents requiring Zero Trust Exchange.

Jay confirmed focus on larger enterprises. Bullish on tripling Zero Trust Everywhere count in 18 months based on customer feedback.

George said the executive order should be a federal tailwind but did not separately quantify any guidance impact (Burt did not get to respond).

Kurtz expressed strong optimism noting international expansion opportunities and that cloud marketplace is becoming the preferred procurement channel for enterprise customers.

Burt attributed RPO acceleration to longer deal durations from CCPs, CrowdStrike Financial Services, and Flex. Did not provide specific cRPO detail or explicit revenue recognition timeline.

Nikesh explained months of planning enabled Day 1 role assignments and OKRs for every CyberArk employee within 48 hours. Chronosphere runs independently with 250 engineers. Thirty-second or thirty-third acquisition overall with lessons from prior integrations.

Nikesh noted 80-90% of white-collar work happens in browsers, creating major security surface. POC found 167 compromised browsers out of 5,000 tested. Monetization primarily strategic today as browser is fungible as SASE endpoint. Target is 100 million secure browser deployments.

Nikesh highlighted eliminating execution risk as the top resonating factor: starting deployment immediately while customers continue paying incumbents, then converting payment when existing contracts expire.

Management said older H100s and A100s are being recontracted for additional term, largely for inference; answered directly.

Management explained the cost-before-revenue timing of scaling but did not quantify the margin impact precisely; partial.

Olivier confirmed seeing interesting customer traction and highlighted the cloud-prem offering as a growth lever for accessing extremely large-scale workloads that previously would not have considered SaaS, plus meeting data residency requirements.

Pomel acknowledged one customer is larger but growth is visible across the rest of the AI cohort, with more than 10 spending $1M+.