Our focus in this area has delivered results. The core product experience improves every quarter, with a particular emphasis on simplifying and removing friction from the process of creating or joining a new team. And third, the emergence of intercompany collaboration as a new path into the product via Slack Connect. Second, improvements to pay conversion driven primarily by new trial offers. Those are, first, continued improvements to the self serve experience renew team creators and joiners, leading to more successful teams. We attribute part of the uptick to the work from home driven increase in the importance of the category, but we believe an even bigger portion of the impact comes from incremental product drivers. That trend continued in August, even after the typical vacation related slow down for the month, indicating that paid customer additions are potentially finding a new baseline rate. Net new paid customer ads grew at a faster rate in June and July compared to April and May. This is the fundamental driver of the entire business, from compounding expansion on the self serve side to the most valuable source of enterprise pipeline. Along with the continued success of our enterprise business, as highlighted through recent customer wins.īut let me start with what I’m most excited about and that’s accelerating growth in new paid customers. I’ll discuss Slack Connect, where we’re seeing the emergence of a genuine network effect, which is already impacting new customer acquisition. Those which you heard me talk about on the last two calls, along with comments on macro related headwinds you’re seeing in the installed base and what we’re doing about it. I want to highlight three key areas of continued execution against our highest priorities. I would now like to turn the conference call over to Slack’s co-founder and chief executive officer, Stewart Butterfield. You can find additional disclosures regarding these non-GAAP measures, including reconciliations with comparable GAAP measures in our earnings release and on our investor relations website at. Our non-GAAP measures exclude the effect of our GAAP results of stock based compensation and certain other items. These non-GAAP financial measures should be considered in addition to, not as a substitute for, or an isolation from GAAP measures. Our discussion today will include certain non-GAAP financial measures. Information concerning our risks, uncertainties, and other factors that could cause results to differ from these forward looking statements are contained in the company’s company’s SCC filings, earnings, press release, and supplemental information posted on the investor section of the company’s website. Actual results may vary materially from today’s statements. These forward looking statements are based on management’s current views and assumptions, and should not be relied upon as of any subsequent date and we disclaim any obligation to update any forward looking statements. We will also make forward looking statements regarding the potential impact of the global COVID-19 pandemic on US and global economies and our business. On the call, we have Stewart Butterfield, co- founder and chief executive officer and Allen Shim, chief financial officer.ĭuring the course of today’s call, we may make forward looking statements, including but not limited to statements regarding our guidance and future financial performance, market demand, product development, growth prospects, business strategies and plans, ability to attract and retain customers and ability to compete effectively. Good afternoon, and thank you for joining us on today’s conference call to discuss Slack’s second quarter, fiscal 2021 financial results. I would now like to hand the conference over to your speaker today, Jesse Husling, Vice President of Finance and Investor Relations. If you require any further assistance, please press star zero. To ask a question during the session, you’ll need to press star one on your telephone. After the speaker’s presentation, there will be a question and answer session. At this time, all participants are in a listen only mode. Ladies and gentlemen, thank you for standing by, and welcome to the Slack Technologies Second Quarter’s Earnings Call.
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