Management remarks
Call period: 2027 Q2 · 2026-09-03
Guidance: Blake Grayson: More specifically, we now expect fiscal 2027 ARR growth to be in the range of 8.5% to 9.0% year-over-year.Demand and orders: Blake Grayson: We also saw the number of customers spending over $300,000 in ACV grow 14% year-over-year to nearly 1,300, the second quarter in a row of double-digit growth.Margins: Blake Grayson: In Q2, non-GAAP gross margins were 81.7%, down slightly compared to the prior year as expected due to our ongoing cloud migration investment.Analyst Q&A
Analyst Michael Turrin asked: I know we're deemphasizing billings, which has been a bit noisy. But just help us parse what's driving the delta between the growth rates, what makes ARR the better metric in terms of gauging the overall results and what drove confidence in increasing the ARR growth rate for the rest of the year? Management Blake Grayson answered: Sure. Let me -- I'll take a stab at this one. The first thing I want to communicate across is the underlying momentum in both revenue and ARR is strong. Bear with me as I walk through this a little bit because on the revenue side, it can be a little complicated. So first, really pleased with Q2 execution, right, beating the high end of the revenue guide. And after you adjust for the incremental headwind from FX relative to the prior guide, we're passing through the entire Q2 beat, and we're also raising the second half revenue expectation slightly.管理层陈述
电话会期间：2027 Q2 · 2026-09-03
指引：布莱克·格雷森：更具体地说，我们目前预计2027财年的ARR同比增长率将处于8.5%至9.0%的区间内。需求与订单：布莱克·格雷森：我们还看到，年度合同价值（ACV）超过30万美元的客户数量同比增长14%，达到近1300家，已连续两个季度实现两位数增长。利润率：布莱克·格雷森：第二季度非GAAP毛利率为81.7%，由于我们正在进行的云迁移投资，较上年同期略有下降，符合预期。分析师问答
分析师迈克尔·特林提问：你们正在淡化波动较大的账单收入指标，能否帮我们梳理增长率差异、为何ARR是更佳业绩衡量指标，以及今年剩余时间上调ARR增长率的信心来源？管理层布莱克·格雷森回应：第二季度业绩超出收入指引上限，剔除外汇逆风因素后完全覆盖了超出部分，还小幅上调了下半年收入预期，收入与ARR增长势头强劲。
