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No. of Recommendations: 2
Great write up.

A couple other things I gathered from the S-1 is their land and expand strategy is much more aggressive than other companies.

Up until a few quarters ago they were spending more on sales and marketing than they were generating in revenue. At first I viewed this as a negative statistic, but after second thought I think it is good with such high net retention. Any sale they get is going to be worth it.

Both the CEO and CFO are from ServiceNow during their growth years so leadership seems to have good experience in growing a company at this stage.

Also think the transfer of data from one cloud provider to another is a major leg up on the competition. A lot of enterprises do not want to just rely on AWS for everything in case AWS has an outage.
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