Asking about reduced full-year EPS guidance despite revenue beat, questioning what's weighing on profitability.
Ed
Nikesh Arora
Market is misreading numbers due to CyberArk acquisition; guidance includes CyberArk and shows collective strength above consensus when properly adjusted for ARR calculation differences.
Questioning math suggesting organic growth near 20% based on ARR guidance of 53-54% including acquisitions.
Ed
Nikesh Arora
Clarification will come by tomorrow morning as market opens; market hasn't understood CFO comments about ARR computation differences.
Asking about 9-figure Chronosphere deal customer identity.
Ed
Nikesh Arora
Customer is a popular LLM; Chronosphere provides cost-effective, efficient observability scaling for LLM volumes, replacing incumbent vendor.
Asking why frontier labs come to Palo Alto for security rather than building themselves.
Ed
Nikesh Arora
Observability ensures end-to-end system performance and low latency while LLM builders focus on models; applies to all consumer apps requiring 99.99% availability.
Asking what problem COI acquisition solves for AI threat visibility.
Ed
Nikesh Arora
COI provides endpoint security for AI coding at developer laptops, an uncovered area different from traditional endpoint security.