CompetitivenessThe competitive landscape remains dynamic, with competitors such as Microsoft Azure, AWS, and Google Cloud Platform adapting their operations to comply with European regulations.
Financial PerformanceThe company lowered its FY24 revenue guide to 9%-10% (vs. 11%-13% previously), given a challenging macro environment particularly in Europe.
Market SentimentThe sensitivity of the rest of the business to macroeconomic uncertainty (particularly in Europe) is greater than expected.