| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | July 22, 2026 | 7/12 | 1 high, 4 medium, 1 low flags | 4 | 1 | Call sheet → |
| Q1'26 | April 22, 2026 | 9/12 | 1 high, 4 medium, 2 low flags | 6 | 0 | Call sheet → |
| Q4'25 | 2026-01-28 | 11/12 | 3 medium, 5 low flags | 7 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Delivered | Maintain best-in-class renewal rates 98% renewal rate, up from 97% in Q1 |
| Q2'26 | Missed | Operating margin expansion despite acquisitions Q2 margin at 29.5% vs 32% in Q1, 250bps compression |
| Q2'26 | Delivered | Armis and Veza would close and integrate in 2026 Both closed, Armis contributing 125bps to growth already |
| Q2'26 | Exceeded | $1B AI ACV target for 2026 Already crossed $1B in Q2, raised target to $1.5B |
| Q2'26 | Exceeded | Moveworks integration would drive employee experience growth 5x growth in Q1, closed more deals in Q1 than all of last year |
| Q1'26 | Delivered | Moveworks integration within weeks not months Employee Works launched in 3 weeks with immediate traction |
| Q1'26 | Delivered | No large-scale M&A on roadmap post-Armis Reiterated no large deals planned, focused on integration |
| Q1'26 | Exceeded | Free cash flow margin expansion Guided to 35% vs prior 31% guidance, up 100 bps YoY |
| Q1'26 | Delivered | Operating margin expansion of 100 basis points year over year Guided to 31.5% vs 31% prior year (before Armis impact) |
| Q1'26 | Delivered | 20% subscription revenue growth for 2026 Guided to 20.5-21% growth, slight beat |
| Q1'26 | Exceeded | Now Assist ACV target of $1 billion for 2026 Raised target to $1.5B, tracking ahead of plan |
| Q4'25 | Delivered | Platform integration strategy with workflow orchestration Workflow Data Fabric in 16 of top 20 deals, increasing attach |
| Q4'25 | Delivered | Security business momentum with $1B ACV milestone 40% NNACV growth, though slower than Q3's 100% |
| Q4'25 | Exceeded | Free cash flow margin improvement from operational leverage 2026 FCF margin guide raised to 36%, beat by 350 bps |
| Q4'25 | Delivered | Operating margin expansion driven by AI efficiencies Raised 2026 op margin guide to 32%, up 100 bps |
| Q4'25 | Delivered | Federal business resilience despite procurement challenges Fed grew 30%+ in Q4 even with government shutdown |
| Q4'25 | Pending | Now Assist tracking towards $1B target for 2026 Still on track, ahead of schedule with $600M baseline |
| Q4'25 | Delivered | Moveworks expected to close towards end of Q4 Moveworks integration complete, contributing to Q4 results |
| Q4'25 | Exceeded | AI products on pace to exceed $0.5B ACV this year Delivered $600M+ in Now Assist ACV alone, beat by 20%+ |
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