Budget ConstraintsDespite enthusiasm for new features, net-new budget availability constrains overall platform uptake during usage spikes, impacting the pace of net revenue retention expansion.
Economic SensitivityUsage-based models are sensitive to the vicissitudes of the economy, and the macro remains treacherous.
Price CompetitionConcerns exist around limited traction in cyber-budget areas and price competition, particularly with mega AI-native customers optimizing their spending.