Competition And PricingThe company guided 1H billings growth at 13% YoY, 580bps below street expectations, which brings up concerns about underlying growth, impact of competition, and disappointing upsell opportunities.
Execution RisksThe recent departure of COO Dali Rajic and many sales staff adds heightened near-term execution risk.
Growth ConcernsConcerns about slower growth in contracted, non-cancellable billings in the first half of the year.