FX ImpactEBIT margin of 18.1% was at the low-end of the guidance range, negatively impacted by ~3pts by FX.
Growth IndicatorsForward-looking indicators of growth disappointed with billings and cRPO growth of ~5% y/y, with consensus estimates closer to 11%.
Revenue GuidanceThe guidance for 2025 total revenue growth was below outlook, with lower visibility on sales improvements beyond FX.