The company reported first-quarter fiscal 2026 results with revenue of $670.58 million and net income of $62.1 million, showing year-over-year growth. However, the stock plummeted nearly 18% in a single day and is down over 30% in the past month due to a cautious outlook and a reduction in its 2026 revenue forecast. While the company demonstrated solid demand, 18% annual recurring revenue growth, and announced a deepened technology partnership with Microsoft Azure, investor sentiment was severely dampened by the guidance miss.