“You know that we've said for a while that as environment priority shifts, if people move to the cloud more, we expected VM to decelerate over time down to the 10%-ish percent range.”

In context

“Corey Thomas (CEO): Rob, thanks for the question. So Tim and I may tag team. So the first point is that we saw the highest impact in EMEA from an overall perspective in terms of the pressure on the net ARR growth. The flip side is we saw incredibly strong performance in security transformation solutions. And that was across the globe but also specifically in North America. Now part of what you're seeing there in North America and around the world is sort of like the VM, where it's incredibly healthy, but you did see that deceleration on the high teens to the mid-teens. The way that we think about this is, look, VM's a fundamental demand driver. You know that we've said for a while that as environment priority shifts, if people move to the cloud more, we expected VM to decelerate over time down to the 10%-ish percent range. Now that happened faster than we expected this year. But the good news is that we're well positioned for that because when you think about the priority for visibility and risk analytics is we can address those critical areas of highest priority, which is in the cloud right now. And so the dollar dynamic that we actually saw was that shift accelerating, and we think that we're set up well with our strategy to address that in the mid to long term.”