Thanks Tinker, thats huge to able to land those huge customers.
The subscription customer decline is concerning.
2015 75
2016 180 140%
2017 275 53%
2018 319 16%
Fiscal 2019 1st qrt 20 % YOY, 20 additional customers.
According to there S1 pg 64. Has some other good info as well.
https://www.sec.gov/Archives/edgar/data/1574135/000104746918…
“In fiscal 2018, we focused primarily on renewals and expansion of existing customer subscriptions, which resulted in fewer net additions relative to prior periods. However, with the recent launch of PCF v2.0, including the release of PKS, we intend to increase our focus on adding new customers.”
Hopefully they can turn that 16% YOY around and get back up to 2017 comps. Have to wait and see…
Along with that there TAM according to there S1… pg 7
"Market Opportunity
Our cloud-native software addresses IT spending across the rapidly growing market for public cloud workloads, sometimes referred to as Platform-as-a-service (“PaaS”), and the market for application infrastructure, middleware and development software. We believe our cloud-native platform opportunity is the aggregate of these two markets, with spending today estimated at over $50 billion.
According to Gartner, spending on cloud application infrastructure services (PaaS) is expected to be $16.0 billion in 2018, growing to $29.0 billion by 2021, representing a 22% compound annual growth rate (“CAGR”).
According to Gartner, spending on application infrastructure, middleware and development solutions is expected to be $43.2 billion in 2018, growing to $51.4 billion by 2021, representing a 6% CAGR.
Growth Strategy
Key elements of our growth strategy include our plans to:
Extend technology lead of our cloud-native platform.
Maintain open cloud-native platform advantage.
Continue to drive new customer adoption.
Expand adoption within existing customers.
Continue to capitalize upon our relationships with our strategic partners.
Further leverage partnerships with public cloud vendors.
Continue to leverage the combined strengths of PCF and Labs to drive PCF expansion."
Back to me:
I think there marketing team should be able to execute and capture a decent portion of that even if it’s blown out of proportion.
Will be watching,
Chris.