Financial Data and Key Metrics Changes - The company exceeded guidance on billings, revenue, and EPS for Q1, showing solid performance across all metrics [4] - Subscription RPO increased by 24% year over year, up from 14% in the previous quarter, with current RPO up 5% [4][8] - Net retention improved for the third consecutive quarter, and ARR increased sequentially for the first time in a while [5] - Rep productivity rose by 60% year over year, indicating enhanced sales force efficiency [5] Business Line Data and Key Metrics Changes - The company reported a strong performance in subscription revenue, with core metrics such as net retention and ARR trending positively [14] - The focus on multi-year contracts has contributed to the growth in RPO, reflecting stronger customer relationships [9][10] Market Data and Key Metrics Changes - The pipeline from the ecosystem increased by over 200% in Q1 compared to Q4, indicating robust demand and lead flow [20][21] - The company is seeing a steady state in sales cycles, with some adaptation to increased scrutiny from CFOs [7] Company Strategy and Development Direction - The company is shifting its go-to-market approach to work seamlessly with partners like Snowflake and Databricks, enhancing its competitive positioning [19][20] - The strategy includes building strong relationships and educating partners on the benefits of the company's platform [26][27] - The consumption pricing model is being adopted by over 70% of the customer base, with expectations to approach 90% by year-end [43][44] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the pipeline and the core business, leading to guidance for Q4 of this year and next year [21][22] - The company is optimistic about the impact of AI and agentic workflows on customer engagement and retention [60][61] Other Important Information - The company does not have significant federal exposure, mitigating risks from public sector revenue concerns [86] - The recent acquisition of Informatica by Salesforce is seen as a competitive opportunity for the company [82][84] Q&A Session Summary Question: What is the outlook for the consumption pricing model? - The company expects to approach 90% of ARR on consumption by the end of the year, reflecting strong adoption trends [43][44] Question: How is the partnership with Snowflake progressing? - The partnership is yielding positive results, with increased lead flow and joint selling opportunities [20][34] Question: What are the implications of the Informatica acquisition? - The acquisition is expected to create competitive opportunities, as the company anticipates seeing less of Informatica in deals [82][84] Question: How is the company managing costs while pursuing growth? - The company is focusing on optimizing resources and leveraging AI to enhance productivity without increasing costs [72][73]