Growth ChallengesDecelerating revenue growth to ~14% yoy continues to be emblematic of challenges the company has faced reorienting the business upmarket while elevated customer budget scrutiny impacts deal conversion.
Market ConditionsDemand in FY24 was impacted by elevated budget scrutiny and longer sales cycles which management expects will persist throughout FY25.
Revenue GuidanceThe stock is trading off about 6% after the print, most likely reacting to the initial 2025 revenue guide, which was for 11% growth at the midpoint versus the Street at 14%.