HashiCorp, Inc. (NASDAQ:HCP) Q3 2024 Earnings Call Transcript

Alex Kurtz: All right. Thanks, Mike, and good luck in your next endeavor. Next question, please.

Operator: Thank you. One moment for our next question. Our next question will come from the line of Miller Jump from Truist Securities. Your line is open.

Miller Jump: Great, thank you for taking the question. Maybe on the packaging side, you all introduced your first bundle approach this year. Can you just talk about maybe what you’ve learned there and how that could impact the upsell opportunity heading into the renewal heavy Q4? Like is this something that could potentially drive increased deal sizes in your mind?

Armon Dadgar: Yes, thanks for the question. I think the bundle has been relatively successful for us. I think the way we think about it is, ultimately, it’s an opportunity to help accelerate that extension motion, right? So customers who typically we don’t position the bundle as a land. It’s usually something we leverage as a renewal time to the point you made as a way of introducing the additional products into the account, helping seed them and then ultimately growing those within the estate as well. So I think the lesson learned is that it has been successful. We introduced it on the security lifecycle today with the Zero Trust bundle. I think we’re going to look at continuing to probably leverage that as we think about simplifying go-to-market next year and having a similar type approach across our security and infrastructure lifecycle.

Alex Kurtz: Thanks Miller.

Operator: Thank you. I’m not showing any further questions at this time. I would now like to turn the call back over to Dave McJannet, CEO, for closing remarks.

Dave McJannet: Yes, I’d just like to express my thanks for the participation from everyone here, and we certainly appreciate you dialing in and for all the questions. We look forward to speaking to everybody soon. Thank you.

Operator: And thank you for your participation in today’s conference. This does conclude the program. You may now disconnect. Everyone, have a great day.