Competitive Pressure From HyperscalersIntense competition from hyperscalers and private vendors could create pricing pressure and require heavy investment to maintain differentiation, pressuring margins and growth prospects.
Customer Concentration RiskA sizable portion of recent revenue upside came from a few very large customer migrations, creating downside risk if such concentrated events do not recur.
Guidance And Investor UncertaintyDebate over product revenue beats and uncertainty around the new chief financial officer's initial guidance is fueling investor anxiety and could amplify share volatility.