Keith Bachman : Many thanks, Gary and Brian, I wanted to ask about some of the drivers of growth. And what specifically want to zero in on net new logos or net new customers, I should say. And so we have the metrics for large customers. But I was wondering if you could just — if you could speak to the breadth of customers. Are net new — are the net new logos or new customers in entirely growing because it seems like if I just take your cloud DBNRR, which isn’t reflective of total ARR. But if cloud DBNRR is in the mid-teens, and you’re guiding to total ARR growing kind of in that same rate, if you could just speak to the customer breadth underneath the largest customers? And the co-related question is, if you could speak a little bit to the competitive environment. Because are you seeing more competition stay at some of the smaller customers, whether it be Microsoft or anybody else that you want to call out? That’s it for me.
Brian Roberts : Yes. I’m happy. I’ll take the new customer, and then I’ll pivot back to Gary to cover the competitive environment. I would say I think it’s important when you’re looking at DBNRR for us, remember, it’s a trailing 12-month base — 12-month metrics. So it’s literally the weighted average of the prior 12 months. The way we look at it, new customers continue to drive growth. From an ARR perspective, new customers generally account for roughly 20% of net new ARR on a trailing 12-month basis, and we were pleased that in Q2, this metric increased year-over-year. And I’ll let Gary touch on that environment.
Gary Steele : Yes. On the competitive side, I would say the competitive environment was largely consistent with what we’ve seen this year. The players that we see in the observability market have remained consistent. And then on the security side, I would say consistent as well. And even as you go to new customers, you will see incumbents there. You might see some legacy SIEM vendor that we then take out in place, that’s been pretty consistent. So I would say there’s no — there’s been no big fundamental change competitively.
Operator: Your final question comes from the line of Trevor Walsh from JMP Securities.
Trevor Walsh : Gary, maybe for you. You mentioned the SEC new regulations around public companies and reporting of incidents. I imagine Splunk’s kind of on the tip of the spear of that being assumed and kind of the collector of all the information and alerts coming in. How much risk is there with — within that process, you’re probably only going to be as good as the data coming in. So how much risk is there around the other tools within the security stack, whether it’s endpoint, network or being either not properly tuned or maybe not quite best of breed, and that kind of maybe poor or less high fidelity data getting pumped in? And Splunk kind of bears the burden of kind of dealing with all that and maybe the reporting process kind of being maybe not as good as it could be from that perspective, just given that you’re kind of — again, the tip of the spear, the clearinghouse of all the data kind of coming in.
Gary Steele : Yes, Trevor, really good question. So I think if you just step back, I think the one thing that we’re very positive about is this new SEC really, really drives organizations to think through what is their strategy, if there’s an event and how quickly can they actually understand and then provide broad SEC — the SEC a broad viewpoint on where they stand. So I think that’s the number one thing. And one of the things we’re getting very good at is helping customers mature their security environment. So to your point, everyone’s mileage varies and how mature they are. I think one of the kind of the key — really interesting and exciting opportunities for us is we’re very much focused on helping our customers drive that maturity journey to get the most value out of Splunk.
And through that, they get the visibility they need to make those determinations because there’s lots of places where, as you described it, you could have lack of visibility because you didn’t get the right data in or you didn’t get the right alerts. We have a very prescriptive program that we’re driving with our customers to ensure that they’re getting themselves set up correctly and helping them through that journey. And that’s a very important motion. We’ve even accelerated that motion given this new SEC ruling. That was something we had in place prior, but we’re accelerating that.
Operator: And we have no further questions at this time. Gary, I’ll turn the call back over to you.
Gary Steele : Great. Thank you. I just want to take a moment and thank everyone for joining us on the call today. We look forward to seeing you out on the road. We’ll be doing a lot of Investor Relations work over the coming quarter and looking forward to seeing you soon.
Operator: This concludes today’s conference call. Thank you for your participation, and you may now disconnect.
