00:00I want to talk about your intelligent, intelligent agreement management platform here. That is your
00:05AI powered platform for contracts. It's early days. It looks like adoption has been strong,
00:11but you're not necessarily seeing that reflected in your sales growth rate. And I just wonder,
00:16you know, when we might start to see that feed through into the bottom line.
00:21Yeah, we are. We are seeing really good traction with that. We mentioned we just got to 40,000
00:27customers live on the platform, which is, I think, a pretty impressive number. It's now over 10%,
00:3312.6% of our total revenue. And we've forecasted that we'll finish the year around 18%. So it's
00:40starting to become meaningful, but still not moving the needle as much overall. But we're
00:47really pleased with the progress. It's the future of the company. And we're seeing adoption across
00:52customer segments and geographies. Well, just to, you know, draw a line under that point. I mean,
00:57as you said, you're not seeing it move the needle yet. Do you think that's a 2026 story or how
01:02patient
01:03should investors be here? Well, we've indicated that we just reaffirmed that we are expecting to
01:09accelerate growth this year and exit the year with a higher growth rate than last year. We also are
01:15dropping more to the bottom lines. We also rate our operating income instruments. So it's in our plans
01:21already. And we're reaffirming that and actually raising it just a little bit. So I think we're on
01:27track. And the market is responding extremely well. We're at the center of gravity for agreements
01:33inside of companies. And companies are realizing that they can do so much more with AI and agreements.
01:39Well, talk about the balance here. I mean, I'm sure you've heard all of the sort of, I guess, rumors
01:45of
01:46your death or the death, I should say, of the broader software space, the SaaSpocalypse, if you
01:51will. And look, we can joke about it. We know there have been some extreme predictions out there. But
01:55there is a serious question right now about the pricing model, the perceived software pricing,
02:01the integration of some of these large language models. So how are you, as the leader of this
02:06company, trying to find that right balance of, I guess, what was the old business model and whatever
02:12you think potentially might be the new business model? Yeah, we're really not a perceived model.
02:19So historically, DocuSign, you know, everyone knows our signature product. And that was sold on a
02:23capacity basis. So you bought a certain amount of capacity. And we're extending that model now in
02:28with this much broader intelligent agreement management platform, which really covers the
02:32entire journey of the life cycle of an agreement. So that's a natural evolution for us, whereas maybe
02:38for others, there's more of a transition from seats to a different model. I don't view that as a big
02:46pressure point for us. And our customers have been very receptive. We just released a more general
02:50purpose model where we have platform price and then credits, and you buy bundles of credits. And I think
02:55that seems to be very well received. Do you worry at all about a potential increase in competition,
03:01particularly from some of the non-traditional players in this space?
03:06No, I actually think this is enabling us to do so much more. As we have announced here over the
03:12last few weeks, we're partnered with the Anthropics and OpenAIs and Googles of the world. So if you
03:17want to use a chat engine to access your agreements or ask questions about them or trigger a workflow
03:23related to agreements, you can do that from inside a chat engine. That's a natural extension of what we've
03:27always been doing with the sales forces and Microsoft and SAPs of the world. And so we just view that
03:32as a
03:32way to allow agreements to be used by everyone in the company in the environment that they're most
03:38comfortable in. Of course, the AI models also power a lot of the capabilities that are inside of our
03:44products, and we work with all of them. It's allowed us to take some amazing leap forward in
03:48capability. You know, agreements used to be dumb flat files, and now you can peek into them and really
03:53understand what's in them and how do you get where you negotiate and how do you do it better the
03:57next
03:57time. And we're very grateful for the partnership with those companies.
04:00And Alan, just quickly here, this is typically a question we ask to, you know, CEOs of physical
04:05good producing companies. But I do wonder how the macro environment interacts with what you do over
04:11at DocuSign. You think about high inflation, high energy costs. You think about, you know, the fact that
04:18the spending power potentially of the consumer, there's fears it could go down. Does that necessarily
04:25matter for you, that sort of macro backdrop?
04:29Well, we're so diversified across companies and industries that we don't see much effect of that as
04:35usually those things reflect sort of sector mixes. And obviously, if there's very significant macroeconomic
04:41changes, that will also flow through to us. But, you know, we've seen very limited macro effects over the last
04:48several years. It's been very steady. And I think we have such a balanced portfolio across all sectors
04:55and geographies that we are relatively insulated.
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