Bookings SlowdownManagement expressed confidence the recent bookings slowdown is temporary, suggesting it is driven by macro factors rather than company-specific issues.
Operational MarginIncremental flow through assumptions for FY26E op. margin are viewed as overly conservative due to expected roll-off of Habu dilution and offshoring leverage.
Revenue ProjectionsDespite modeled +530bps Q/Q acceleration on a 2Y stack, Data Marketplace revenue is projected to be -5% below consensus, suggesting overreliance on unquantified Oracle client-driven upside.