清纯是什么意思

Transcript

Nikesh, I'll start with you if I may. How much was this deal? And I wanna focus on the technology landscape here. How much was this deal, a direct response to the Wiz Google deal and generally the domains the hyperscalers are focused on right now when it comes to security? Well, I think these are very different transactions that look from our perspective, if you look at the last two years or two years, what had gone on, What has gone on is that we're seeing this huge conversation about AI now most lately, and I just saw your segment prior to this, you guys talk about billions of dollars being spent. Well, what's those billions of dollars going to result in? The billions of dollars are going to result in tremendous amounts of AI adoption around the world on 2 Vectors 1, we get very smart models out there. They're going to be executed by companies on the other side. There's going to be tremendous amounts of agents out there that are going to start accomplishing tasks on our behalf. Now, if you imagine the proliferation of agents for companies or individuals, you're creating a whole new attack surface from an identity perspective. The more agents, the more possibilities those agents can be hijacked, taken over and be used for cyber attacks. In that context, it became imperative for us as a comprehensive cybersecurity player to make sure we have the identity solution in the market. If you look at the market and the identity space and we can talk more about it. The number one company, right, who understands identity security in the world is CyberArk. So we think they're poised at the right place to be able to capitalize on that opportunity of AI being deployed everywhere. At the same time, we need to have a platform that reacts in real time because AI is going to make it easier for attackers to go and attack people quickly. So from both those vectors, it became imperative for us to make a move and deliver an identity capability in our portfolio to make sure that we can secure our customers. So that's why this makes sense. OK, Udi if AI agent and the offering there is is absolutely critical what CyberArk gonna get from this relationship being a part of Palo Alto Networks, particularly like with your existing partnerships and customer base. Ohh, absolutely. Look as as the founder here. We, we had the vision that the identity is a security problem, not a management problem. And then the attackers followed and 90% of attacks, that's how they how they get in and also how they how they propagate. And as Nikesh said, there's an inflection point. Because you add on top of that into that fire, you had machine, you add machine identities and AI agents that behave like a machine and, and somewhat like, and they're also relentless like a human. So they behave like a machine in relentless like human. So we, we are excited to join Palo Alto because of the scale and the technology integrations that we can bring forward. We already have integrations that we started to work on as, as a partnership. And we just saw that the Palo Alto with its platforms can correlate data, data, data. Can leverage insights to stop attacks in, in, in seconds. And together we can bring identity security to 10s of thousands of organizations out. We're we're proud at CyberArk, we're proud to have 8000 customers out there. Palo Alto has 70,000 plus customers. We have many joint channel partners and together we're really going to go global, going global Nikesh and I get this from the platformization strategy that you have in particular, talk to us about the operating margin and how you ensure that that remains amplified because you don't tuck ins, You're an inquisitive guy. How does this in the longer term, feed profitability, feed the growth story of Palo Alto Networks? Look, Caroline, I've always maintained for the last seven years, if you want to be successful in enterprise, you want to be a large enterprise software company, you have to scale. If you look at every enterprise company, look at the top 10, all those companies enjoy higher margins and that's driven by the efficiencies that they get from go to market and sales and marketing. I think the fact that we can work with CyberArk to work at 3 levels. One, we think there's a huge opportunity accelerating the top line for CyberArk and identity with the partnership Palo Alto, we have a global presence. We have more presence in Europe, than they do we have more presence in Asia Pacific. We have product ideas together which allow us to innovate and drive the top line coupled with the fact that we have a reasonably efficient backbone. We run our infrastructure on, you know, we're pushing 28, 29% margins and we have set our target north of 30% for our company. That's going to be a huge step up from where CyberArk cooperates and we think we can get them there and collectively perhaps aim for higher, not just that on the on the margin side, but also on the cash flow side as a consequence of us being able to drive better margins. We think there's synergies built in driving top line, there're synergies in bringing our scale capabilities to CyberArk's backbone and infrastructure and and say we already articulated that this is going to be both gross margin and revenue accretive right from day one. In addition to that we expect we'll get to cash flow accretion in about FY28. But this doesn't include all the go to market drop line capabilities. We're going to spend the next few months making sure we get them executed and implemented collectively or be ready to execute in cases where we need to merge them together. Udi, are the CEO's that you've been speaking to and the ones that are now going to win over with this combination? Are they as aware of agentic AI's risk factors as you think they should be? It's the number one thing that we're hearing from their chief security officers were when they ask and, and when board members asked, what are you worried about? How is the proliferation of, of agents? And like I said, relentless agents that want to get the job done. And of course, in any simulation of an attack, they find that identity is the source of light attacks get in. So identity is top priority for organizations already and sprinkled with AI on top. It's, it's rising up there and, and it's, it's one of the biggest, maybe top concerns for CIO, chief security officers and CIOs. Nikesh, I spent all morning staring at CyberArk share price chart over the last few years, even price history as well or not. And yeah, so I'm sure you'll tell me that this is worth every single penny, but just use it to say how pressing it was to get this deal done, the technology environment and the kind of core competencies that you acquired, even the premium that you may be paying. Look at 6 1/2, 7 years ago when I joined Palo Alto, we were an $18 billion market cap company. The only way we got where we did north of 125 is by making sure we had a point of view of what where the world's going to go in the next three to five years. What do we need to have in terms of capability to make that happen and be executed relentlessly towards it. I'm telling you today, the collective stock price of CyberArk and Palo Alto are at an all time low because the next five years from now you will see the demand for a comprehensive security suite across multiple platforms where the only players industry who are going to be able to deliver that. You'll see a huge focus on identity. They haven't even talked about how we can take what CyberArk does from 8 million users to hundreds of millions of users. So from that perspective, we have to do this deal now. It's going to take us 6 to 9 months to close it. It's going to take us 18 to 24 months to get the products in play, in line to get go out there and conquer this market. But we're not going to get to $253 billion market cap company if you don't make these moves now and work relentlessly for the next 5 years to get there.