The company said RPO was $19.5 billion as of September 30, 2024, of which 48% was cRPO. RPO and cRPO rose 36% and 26%, respectively, from September 30, 2023. Customers with ACV greater than $1 million numbered 2,020 as of September 30, 2023, compared with 1,772.

10-QQuarterly reportFiled Oct 24, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said RPO was $19.5 billion as of September 30, 2024, of which 48% was cRPO. RPO and cRPO rose 36% and 26%, respectively, from September 30, 2023. Customers with ACV greater than $1 million numbered 2,020 as of September 30, 2023, compared with 1,772.
The company said subscription revenues for 2024 increased by $499 million and $1,465 million for the three and nine months ended compared to the prior-year periods, primarily driven by increased purchases by new and existing customers. It said revenues recognized upfront from self-hosted offerings were $81 million for the three months and $275 million for the nine months.
The company said sales and marketing expenses for the three and nine months ended 2024 rose $145 million and $373 million, respectively, from a year earlier. R&D expenses rose $77 million and $313 million, and G&A expenses rose $12 million and $58 million. Subscription gross profit percentage was 82% for both the three and nine months ended 3 and 9.
The company said net cash provided by operating activities was $2,632 million for the nine months ended 2024, compared with $1,793 million for the nine months ended 2023, and cited higher collections from revenue growth as the reason. It repurchased 0.5 million shares for $400 million over the same period. As of September 30, about $562 million remained under its repurchase authorization.

Key figures

Quarter ended September 30, 2024

Revenue: $2.8B
Operating income: $418M
Net income: $432M
EPS: $2.07
Gross profit: $2.2B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

RPO and Customers with ACV Over $1 million

The company said RPO was $19.5 billion as of September 30, 2024, of which 48% was cRPO. RPO and cRPO rose 36% and 26%, respectively, from September 30, 2023. Customers with ACV greater than $1 million numbered 2,020 as of September 30, 2023, compared with 1,772.

Source · Based on the MD&A text of the filing

Subscription Revenue Growth and Self-Hosted Upfront Revenue

The company said subscription revenues for 2024 increased by $499 million and $1,465 million for the three and nine months ended compared to the prior-year periods, primarily driven by increased purchases by new and existing customers. It said revenues recognized upfront from self-hosted offerings were $81 million for the three months and $275 million for the nine months.

Source · Based on the MD&A text of the filing

Higher Sales and Marketing, R&D and G&A Costs and Subscription Gross Margin

The company said sales and marketing expenses for the three and nine months ended 2024 rose $145 million and $373 million, respectively, from a year earlier. R&D expenses rose $77 million and $313 million, and G&A expenses rose $12 million and $58 million. Subscription gross profit percentage was 82% for both the three and nine months ended 3 and 9.

Source · Based on the MD&A text of the filing

Operating Cash Flow and Share Repurchases for 9 Months

The company said net cash provided by operating activities was $2,632 million for the nine months ended 2024, compared with $1,793 million for the nine months ended 2023, and cited higher collections from revenue growth as the reason. It repurchased 0.5 million shares for $400 million over the same period. As of September 30, about $562 million remained under its repurchase authorization.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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