There's usually a seasonal ARR dip in Q3, but Q3 '23 was less pronounced than prior years
There's usually a seasonal dip in Q3, but Q3 '23 was less pronounced than prior years. 2020 - 2022 the data starts to get skewed, but you can see the trends in 2018 / 2019. Q3 is generally about ~70% of the net new ARR of Q2. This year Q3 was ~90% of the net new ARR of Q2
There's definitely an element of "the comps are getting easier" when looking at YoY growth rate trends. But looking at aggregate net new quarterly ARR added by the hyperscalers, we can see they started to turn the corner in Q3.
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https://twitter.com/jaminball/status/1732975907642732769
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