“in the second half, because of the tougher comparison relative to the second half of last year, we are anticipating it to kind of come down to land around 6% to 8% for the full year for current billings.”

In context

“Joo Mi Kim (CFO): Yes. So revenue is lagging. I would say that current billings on an LTM basis could be indicative of the bookings performance, which is more of a leading indicator. So I understand the focus on the current billings. At the beginning of the year, what I had kind of given an indication for the current billings at around like 6% to 8%, in line with the revenue growth guidance, 6% to 8% at the beginning of the year. For current billings, I would say that still remains true, probably the best indicator or guidance I can give at this time. Now on the revenue side, you could see that we've outperformed, booking 10% growth rate for Q1 and Q2, guiding to 7% to 9% for Q3. And so what that implies is current billings going up from 7% to 8%, 7% in Q1. Q2 looks like we closed it at 8%. But in the second half, because of the tougher comparison relative to the second half of last year, we are anticipating it to kind of come down to land around 6% to 8% for the full year for current billings.”