ALPHAFORGE RESEARCH · COMPANY FILE · SOFTWARE & INTERNET

$MDB

MongoDB, Inc. · Nasdaq · SIC 7372 · CIK 1441816 · revision 5 as of 2026-09-19

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Business

MongoDB supplies a database platform through Atlas cloud services, Enterprise Advanced self-managed subscriptions and related offerings. Atlas revenue follows usage as applications consume database, search and other services; enterprise revenue also reflects license delivery and renewal timing. Services support adoption but have different margins. Workload growth, cloud delivery costs, sales efficiency and equity compensation determine operating returns.

Three drivers

Atlas consumption versus enterprise renewal timing
Hosting economics and GAAP operating leverage
Cash after software compensation and finance leases

Thesis

Our view

Q2 revenue grew 30% and GAAP operating income turned positive, but management guides Q3 back to a GAAP operating loss. The model keeps that distinction and separates Atlas consumption from the remaining business without claiming exact undisclosed segment dollars. RPO growth is a demand reference with contract and consumption limitations. Strong CFO also includes material noncash compensation; financing-classified share withholding and repurchases reduce cash retained.

What changes it

Track Atlas usage, the enterprise contribution, and delivery against the higher annual outlook. Reconcile GAAP versus adjusted results, collection timing and equity settlement before treating aggregate cash growth as per-share progress.

Scenario ranges

Explicit downside/base/upside business assumptions; not price targets, probabilities or historical market-memory bands.

Model · 8 fiscal quarters (last eight)

Fiscal quarter	2025Q3 2024-10-31	2025Q4 2025-01-31	2026Q1 2025-04-30	2026Q2 2025-07-31	2026Q3 2025-10-31	2026Q4 2026-01-31	2027Q1 2026-04-30	2027Q2 2026-07-31
Revenue ($M)	529.4¹	548.4†²	549.0³	591.4⁴	628.3¹	695.1†²	687.6³	771.8⁴
Gross profit ($M)	394.0⁵	399.4†⁶	391.0⁷	420.0⁸	449.1⁵	507.7†⁶	496.2⁷	569.8⁸
Operating income ($M)	-27.9⁹	-18.6†¹⁰	-53.6¹¹	-65.3¹²	-18.4⁹	0.3†¹⁰	-24.8¹¹	28.4¹²
Net income ($M)	-9.8¹³	15.8†¹⁴	-37.6¹⁵	-47.0¹⁵	-2.0¹³	15.5†¹⁴	4.4¹⁵	40.9¹⁵
EPS, diluted ($)	—	—	-0.46¹⁶	-0.58¹⁷	—	—	0.05¹⁶	0.50¹⁷
Diluted shares (M)	—	—	81.1¹⁸	81.1¹⁹	—	—	81.6¹⁸	82.0¹⁹
Cash ($M)	673.1²⁰	490.1²¹	657.8²²	647.1²³	834.1²⁰	1,083.5²³	1,036.4²²	1,002.4²³
Long-term debt ($M)	—	—	—	—	—	—	—	—
Cash from operations ($M)	37.4†²⁴	50.5†²⁵	109.9²⁶	72.1†²⁷	143.5†²⁴	179.6†²⁵	201.6²⁶	141.9†²⁷
Capex ($M)	2.0†²⁸	26.0†²⁹	1.6³⁰	0.5†³¹	1.7†²⁸	1.1†²⁹	2.3³⁰	2.5†³¹
Free cash flow ($M)	35.5†³²	24.6†³³	108.3†³⁴	71.6†³⁵	141.8†³²	178.5†³³	199.3†³⁴	139.4†³⁵

† derived (Q4 = fiscal year minus the first three quarters; year-to-date cash flows differenced; FCF = CFO − capex). Superscripts are the provenance notes below.

Estimates · base scenario

Period	Revenue ($M)	EPS ($)	As of	Basis
2027Q3	758.5	—	2026-09-19	Desk base scenario. Revenue basis: Consolidated revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.
2027Q4	792.1	—	2026-09-19	Desk base scenario. Revenue basis: Consolidated revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.
2028Q1	870.1	—	2026-09-19	Desk base scenario. Revenue basis: Consolidated revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.
2028Q2	947.1	—	2026-09-19	Desk base scenario. Revenue basis: Consolidated revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.

Atlas consumption, enterprise timing and cash after equity settlement

Operating scenarios · reviewed 2026-09-19 · USD millions unless labeled otherwise · our assumptions, not consensus

Separate Atlas from the remaining business using a clearly labeled proxy anchored to the rounded reported H1 mix. Calibrate FY2027 total revenue and GAAP operating income to September guidance; explicit Atlas mix and Q3 demand determine the implied remainder. Extend FY2028 Atlas and other revenue independently, with distinct gross margins and a GAAP expense build. Bridge operating earnings through investment income, cash taxes, noncash compensation and working capital to CFO, then deduct PP&E, finance-lease principal and share withholding in separate stages.

Reported anchors and guidance

Measure	Period	Value	Basis
FY2027 revenue midpoint	FY2027	3,010.00	derived. Calculated midpoint of the company range; not an additional company forecast.
Q3 revenue midpoint	2027Q3	758.50	derived. Calculated midpoint of the company range; not an additional company forecast.
FY2027 GAAP operating income midpoint	FY2027	-18.00	derived. Calculated midpoint of the company range; not an additional company forecast.
Q3 GAAP operating income midpoint	2027Q3	-12.50	derived. Calculated midpoint of the company range; not an additional company forecast.
q2 operating income	2027Q2	28.40	reported. Reported consolidated amount, converted from thousands to millions. Source · 2026-09-01
Reported rounded H1 Atlas / total revenue	H1 FY2027	74.0%	reported. Reported whole-percentage mix; derived segment dollars are approximate, not exact company data. Source · 2026-09-01
rpo	2027Q2	1,519.20	reported. Reported consolidated amount, converted from thousands to millions. Source · 2026-09-01
current rpo	2027Q2	797.30	reported. Reported consolidated amount, converted from thousands to millions. Source · 2026-09-01
H1 cash after PP&E	H1 FY2027	338.72	derived. Generic historical cash measure.
H1 company-definition FCF	H1 FY2027	335.16	derived. Company definition additionally subtracts finance-lease principal.
H1 cash after equity withholding	H1 FY2027	217.49	derived. Cash tax remittance on net-settled awards; not a second SBC earnings deduction.
H1 buybacks	H1 FY2027	200.25	reported. Reported consolidated amount, converted from thousands to millions. Source · 2026-09-01
Cash and investments excluding restricted cash	2027Q2	2,411.25	derived. Restricted $3.411M is disclosed separately and not added to freely available cash.
restricted cash	2027Q2	3.41	reported. Reported consolidated amount, converted from thousands to millions. Source · 2026-09-01

Downside scenario

Period	Operating cash flow ($M)	CFO less PP&E ($M)	PP&E and other asset purchases ($M)	Consolidated revenue ($M)	Atlas revenue proxy ($M)	CFO less PP&E and lease principal ($M)	Remaining revenue proxy ($M)	GAAP gross profit ($M)	Finance-lease principal ($M)	GAAP operating income ($M)	Company FCF less share withholding ($M)
2027Q3	83.00	80.00	3.00	728.16	550.00	78.00	178.16	516.53	2.00	-45.00	13.00
2027Q4	125.90	122.90	3.00	702.05	508.36	120.90	193.69	500.64	2.00	-41.60	50.90
2028Q1	155.45	151.45	4.00	748.22	575.42	149.45	172.80	529.52	2.00	-5.55	69.45
2028Q2	161.37	157.37	4.00	815.79	612.94	155.37	202.85	579.08	2.00	4.87	80.37
FY2027	552.41	541.62	10.79	2,889.60	2,138.30	534.07	751.30	2,083.11	7.55	-83.00	281.40
FY2028	659.65	643.65	16.00	3,253.11	2,501.82	635.65	751.30	2,302.27	8.00	2.65	315.65

Base scenario

Period	Operating cash flow ($M)	CFO less PP&E ($M)	PP&E and other asset purchases ($M)	Consolidated revenue ($M)	Atlas revenue proxy ($M)	CFO less PP&E and lease principal ($M)	Remaining revenue proxy ($M)	GAAP gross profit ($M)	Finance-lease principal ($M)	GAAP operating income ($M)	Company FCF less share withholding ($M)
2027Q3	142.50	139.50	3.00	758.50	580.00	137.50	178.50	561.74	2.00	-12.50	82.50
2027Q4	175.40	172.40	3.00	792.11	627.65	170.40	164.46	583.78	2.00	-9.10	110.40
2028Q1	270.61	266.61	4.00	870.08	683.99	264.61	186.09	641.95	2.00	71.61	194.61
2028Q2	273.25	269.25	4.00	947.05	728.60	267.25	218.45	700.81	2.00	87.75	207.25
FY2027	661.41	650.62	10.79	3,010.00	2,287.60	643.07	722.40	2,211.46	7.55	-18.00	410.40
FY2028	1,116.43	1,100.43	16.00	3,782.97	2,973.88	1,092.43	809.09	2,791.09	8.00	331.43	827.43

Upside scenario

Period	Operating cash flow ($M)	CFO less PP&E ($M)	PP&E and other asset purchases ($M)	Consolidated revenue ($M)	Atlas revenue proxy ($M)	CFO less PP&E and lease principal ($M)	Remaining revenue proxy ($M)	GAAP gross profit ($M)	Finance-lease principal ($M)	GAAP operating income ($M)	Company FCF less share withholding ($M)
2027Q3	180.00	177.00	3.00	777.46	600.00	175.00	177.46	590.62	2.00	5.00	115.00
2027Q4	215.90	212.90	3.00	848.40	695.69	210.90	152.70	639.18	2.00	8.40	145.90
2028Q1	344.00	340.00	4.00	957.54	764.96	338.00	192.59	724.04	2.00	118.00	263.00
2028Q2	346.53	342.53	4.00	1,040.93	814.85	340.53	226.08	789.27	2.00	135.03	272.53
FY2027	739.41	728.62	10.79	3,085.25	2,375.64	721.07	709.61	2,295.74	7.55	17.00	478.40
FY2028	1,420.30	1,404.30	16.00	4,163.24	3,325.90	1,396.30	837.34	3,148.02	8.00	513.30	1,096.30

All inputs and formulas — reproduce this model

Input / calculation	Period / case	Value / unit	Evidence or assumption
H1 revenue h1_revenue	H1 FY2027 / shared	1,459.39 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-09-01
H1 gross profit h1_gross_profit	H1 FY2027 / shared	1,065.94 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-09-01
H1 operating income h1_operating_income	H1 FY2027 / shared	3.60 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-09-01
H1 cfo h1_cfo	H1 FY2027 / shared	343.51 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-09-01
H1 capex h1_capex	H1 FY2027 / shared	4.79 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-09-01
H1 lease principal h1_lease_principal	H1 FY2027 / shared	3.55 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-09-01
H1 sbc h1_sbc	H1 FY2027 / shared	286.77 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-09-01
H1 withholding h1_withholding	H1 FY2027 / shared	117.67 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-09-01
H1 buybacks h1_buybacks	H1 FY2027 / shared	200.25 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-09-01
H1 security gains h1_security_gains	H1 FY2027 / shared	16.62 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-09-01
H1 deferred revenue use h1_deferred_revenue_use	H1 FY2027 / shared	24.18 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-09-01
H1 receivables source h1_receivables_source	H1 FY2027 / shared	43.70 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-09-01
Reported rounded H1 Atlas / total revenue h1_atlas_mix	H1 FY2027 / shared	74.0% ratio	reported: Reported whole-percentage mix; derived segment dollars are approximate, not exact company data. Primary source · 2026-09-01
H1 approximate Atlas revenue h1_atlas_proxy	H1 FY2027 / shared	1,079.95 USD_millions	derived: Consolidated revenue times rounded 74% Atlas mix; analytical proxy. Formula: multiply(h1_revenue, h1_atlas_mix).
H1 remaining revenue proxy h1_other_proxy	H1 FY2027 / shared	379.44 USD_millions	derived: Includes EA, other subscriptions and services; not an exact separately reported segment. Formula: subtract(h1_revenue, h1_atlas_proxy).
H1 cash after PP&E h1_fcf	H1 FY2027 / shared	338.72 USD_millions	derived: Generic historical cash measure. Formula: subtract(h1_cfo, h1_capex).
H1 company-definition FCF h1_company_fcf	H1 FY2027 / shared	335.16 USD_millions	derived: Company definition additionally subtracts finance-lease principal. Formula: subtract(h1_fcf, h1_lease_principal).
H1 cash after equity withholding h1_cash_after_withholding	H1 FY2027 / shared	217.49 USD_millions	derived: Cash tax remittance on net-settled awards; not a second SBC earnings deduction. Formula: subtract(h1_company_fcf, h1_withholding).
cash cash	2027Q2 / shared	1,002.40 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-09-01
securities securities	2027Q2 / shared	1,408.85 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-09-01
restricted cash restricted_cash	2027Q2 / shared	3.41 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-09-01
rpo rpo	2027Q2 / shared	1,519.20 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-09-01
current rpo current_rpo	2027Q2 / shared	797.30 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-09-01
q2 operating income q2_operating_income	2027Q2 / shared	28.40 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-09-01
Cash and investments excluding restricted cash unrestricted_liquidity	2027Q2 / shared	2,411.25 USD_millions	derived: Restricted $3.411M is disclosed separately and not added to freely available cash. Formula: sum(cash, securities).
FY2027 revenue low fy27_revenue_guide_low	FY2027 / shared	2,990.00 USD_millions	management guidance: Company guidance; not a desk forecast. Primary source · 2026-09-01
FY2027 revenue high fy27_revenue_guide_high	FY2027 / shared	3,030.00 USD_millions	management guidance: Company guidance; not a desk forecast. Primary source · 2026-09-01
Midpoint divisor two	Model / shared	200.0% ratio	assumption: Arithmetic constant.
FY2027 revenue endpoint sum fy27_revenue_guide_sum	FY2027 / shared	6,020.00 USD_millions	derived: Arithmetic intermediate. Formula: sum(fy27_revenue_guide_low, fy27_revenue_guide_high).
FY2027 revenue midpoint fy27_revenue_guide	FY2027 / shared	3,010.00 USD_millions	derived: Calculated midpoint of the company range; not an additional company forecast. Formula: divide(fy27_revenue_guide_sum, two).
Q3 revenue low q3_revenue_guide_low	2027Q3 / shared	756.00 USD_millions	management guidance: Company guidance; not a desk forecast. Primary source · 2026-09-01
Q3 revenue high q3_revenue_guide_high	2027Q3 / shared	761.00 USD_millions	management guidance: Company guidance; not a desk forecast. Primary source · 2026-09-01
Q3 revenue endpoint sum q3_revenue_guide_sum	2027Q3 / shared	1,517.00 USD_millions	derived: Arithmetic intermediate. Formula: sum(q3_revenue_guide_low, q3_revenue_guide_high).
Q3 revenue midpoint q3_revenue_guide	2027Q3 / shared	758.50 USD_millions	derived: Calculated midpoint of the company range; not an additional company forecast. Formula: divide(q3_revenue_guide_sum, two).
FY2027 GAAP operating income low fy27_gaap_op_guide_low	FY2027 / shared	-28.00 USD_millions	management guidance: Company guidance; not a desk forecast. Primary source · 2026-09-01
FY2027 GAAP operating income high fy27_gaap_op_guide_high	FY2027 / shared	-8.00 USD_millions	management guidance: Company guidance; not a desk forecast. Primary source · 2026-09-01
FY2027 GAAP operating income endpoint sum fy27_gaap_op_guide_sum	FY2027 / shared	-36.00 USD_millions	derived: Arithmetic intermediate. Formula: sum(fy27_gaap_op_guide_low, fy27_gaap_op_guide_high).
FY2027 GAAP operating income midpoint fy27_gaap_op_guide	FY2027 / shared	-18.00 USD_millions	derived: Calculated midpoint of the company range; not an additional company forecast. Formula: divide(fy27_gaap_op_guide_sum, two).
Q3 GAAP operating income low q3_gaap_op_guide_low	2027Q3 / shared	-14.50 USD_millions	management guidance: Company guidance; not a desk forecast. Primary source · 2026-09-01
Q3 GAAP operating income high q3_gaap_op_guide_high	2027Q3 / shared	-10.50 USD_millions	management guidance: Company guidance; not a desk forecast. Primary source · 2026-09-01
Q3 GAAP operating income endpoint sum q3_gaap_op_guide_sum	2027Q3 / shared	-25.00 USD_millions	derived: Arithmetic intermediate. Formula: sum(q3_gaap_op_guide_low, q3_gaap_op_guide_high).
Q3 GAAP operating income midpoint q3_gaap_op_guide	2027Q3 / shared	-12.50 USD_millions	derived: Calculated midpoint of the company range; not an additional company forecast. Formula: divide(q3_gaap_op_guide_sum, two).
FY2027 revenue versus guide midpoint downside_delivery	FY2027 / downside	96.0% ratio	assumption: Desk demand/timing sensitivity.
FY2027 revenue downside_fy27_revenue_target	FY2027 / downside	2,889.60 USD_millions	derived: Guidance midpoint times scenario delivery. Formula: multiply(fy27_revenue_guide, downside_delivery).
FY2027 Atlas revenue share downside_atlas_mix	FY2027 / downside	74.0% ratio	assumption: Desk mix, not reported exact Atlas revenue or management mix guidance.
FY2027 Atlas proxy downside_fy27_atlas_target	FY2027 / downside	2,138.30 USD_millions	derived: Annual total times assumed mix. Formula: multiply(downside_fy27_revenue_target, downside_atlas_mix).
FY2027 remainder proxy downside_fy27_other_target	FY2027 / downside	751.30 USD_millions	derived: Includes all non-Atlas revenue, not only EA. Formula: subtract(downside_fy27_revenue_target, downside_fy27_atlas_target).
FY2027 operating profit versus guide midpoint downside_op_delta	FY2027 / downside	-65.00 USD_millions	assumption: Desk execution sensitivity in dollars; downside can fall outside guidance.
FY2027 GAAP operating result downside_fy27_op_target	FY2027 / downside	-83.00 USD_millions	derived: Base equals reported GAAP guidance midpoint. Formula: sum(fy27_gaap_op_guide, downside_op_delta).
H2 revenue downside_h2_revenue	H2 FY2027 / downside	1,430.21 USD_millions	derived: Annual scenario less known consolidated actual or explicitly approximate mix allocation. Formula: subtract(downside_fy27_revenue_target, h1_revenue).
H2 atlas downside_h2_atlas	H2 FY2027 / downside	1,058.36 USD_millions	derived: Annual scenario less known consolidated actual or explicitly approximate mix allocation. Formula: subtract(downside_fy27_atlas_target, h1_atlas_proxy).
H2 other downside_h2_other	H2 FY2027 / downside	371.85 USD_millions	derived: Annual scenario less known consolidated actual or explicitly approximate mix allocation. Formula: subtract(downside_fy27_other_target, h1_other_proxy).
H2 op downside_h2_op	H2 FY2027 / downside	-86.60 USD_millions	derived: Annual scenario less known consolidated actual or explicitly approximate mix allocation. Formula: subtract(downside_fy27_op_target, h1_operating_income).
FY2028 atlas growth multiplier downside_atlas_growth	FY2028 / downside	117.0% ratio	assumption: Independent desk growth by business driver.
FY2028 atlas revenue proxy downside_fy28_atlas_target	FY2028 / downside	2,501.82 USD_millions	derived: Growth applied independently; no additional AI product revenue added. Formula: multiply(downside_fy27_atlas_target, downside_atlas_growth).
FY2028 other growth multiplier downside_other_growth	FY2028 / downside	100.0% ratio	assumption: Independent desk growth by business driver.
FY2028 other revenue proxy downside_fy28_other_target	FY2028 / downside	751.30 USD_millions	derived: Growth applied independently; no additional AI product revenue added. Formula: multiply(downside_fy27_other_target, downside_other_growth).
Atlas revenue proxy downside_2027q3_atlas_proxy	2027Q3 / downside	550.00 USD_millions	assumption: Desk assumption, not company guidance.
Quarter total revenue downside_2027q3_total_reference	2027Q3 / downside	728.16 USD_millions	derived: Q3 midpoint times delivery factor. Formula: multiply(q3_revenue_guide, downside_delivery).
Remaining revenue proxy downside_2027q3_other_proxy	2027Q3 / downside	178.16 USD_millions	derived: Remainder required by total revenue scenario. Formula: subtract(downside_2027q3_total_reference, downside_2027q3_atlas_proxy).
Consolidated revenue downside_2027q3_revenue	2027Q3 / downside	728.16 USD_millions	derived: Two mutually exclusive revenue buckets cover the whole company. Formula: sum(downside_2027q3_atlas_proxy, downside_2027q3_other_proxy).
atlas GAAP gross margin downside_2027q3_atlas_margin	2027Q3 / downside	68.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
atlas gross profit proxy downside_2027q3_atlas_gross	2027Q3 / downside	374.00 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(downside_2027q3_atlas_proxy, downside_2027q3_atlas_margin).
other GAAP gross margin downside_2027q3_other_margin	2027Q3 / downside	80.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
other gross profit proxy downside_2027q3_other_gross	2027Q3 / downside	142.53 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(downside_2027q3_other_proxy, downside_2027q3_other_margin).
GAAP gross profit downside_2027q3_gross_profit	2027Q3 / downside	516.53 USD_millions	derived: Sum of analytical business contributions. Formula: sum(downside_2027q3_atlas_gross, downside_2027q3_other_gross).
Total expensed stock compensation downside_2027q3_sbc	2027Q3 / downside	153.00 USD_millions	assumption: Desk assumption, not company guidance.
Q3 execution sensitivity share downside_2027q3_op_delta_share	2027Q3 / downside	50.0% ratio	assumption: Desk assumption, not company guidance.
Q3 share of annual execution sensitivity downside_2027q3_op_delta	2027Q3 / downside	-32.50 USD_millions	derived: Remaining half is reflected in Q4. Formula: multiply(downside_op_delta, downside_2027q3_op_delta_share).
GAAP operating income downside_2027q3_operating_income	2027Q3 / downside	-45.00 USD_millions	derived: Base equals Q3 GAAP loss guidance midpoint, not Q2 run rate. Formula: sum(q3_gaap_op_guide, downside_2027q3_op_delta).
Noncash depreciation/amortization downside_2027q3_da	2027Q3 / downside	8.00 USD_millions	assumption: Desk assumption, not company guidance.
Interest income less cash tax downside_2027q3_net_interest_cash_tax	2027Q3 / downside	12.00 USD_millions	assumption: Desk $17M net interest less $5M cash taxes; no future investment-security gain assumed.
Cash earnings before working capital downside_2027q3_before_wc	2027Q3 / downside	128.00 USD_millions	derived: Includes expensed SBC once; no negative tax refund forced from GAAP losses. Formula: sum(downside_2027q3_operating_income, downside_2027q3_sbc, downside_2027q3_da, downside_2027q3_net_interest_cash_tax).
Net operating working-capital use downside_2027q3_wc	2027Q3 / downside	45.00 USD_millions	assumption: Includes receivables, deferred revenue, commissions and other cash timing; positive use/negative source.
Operating cash flow downside_2027q3_cfo	2027Q3 / downside	83.00 USD_millions	derived: Atlas billed in arrears can grow without equivalent upfront deferred-revenue funding. Formula: subtract(downside_2027q3_before_wc, downside_2027q3_wc).
Cash PP&E and other asset purchases downside_2027q3_capex	2027Q3 / downside	3.00 USD_millions	assumption: Desk assumption, not company guidance.
Finance-lease principal paid downside_2027q3_lease_principal	2027Q3 / downside	2.00 USD_millions	assumption: Desk assumption, not company guidance.
CFO less PP&E downside_2027q3_fcf	2027Q3 / downside	80.00 USD_millions	derived: Generic historical FCF scope. Formula: subtract(downside_2027q3_cfo, downside_2027q3_capex).
Company-definition FCF downside_2027q3_company_fcf	2027Q3 / downside	78.00 USD_millions	derived: Company additionally subtracts finance-lease principal, a financing outflow. Formula: subtract(downside_2027q3_fcf, downside_2027q3_lease_principal).
Taxes on net-settled equity awards downside_2027q3_withholding	2027Q3 / downside	65.00 USD_millions	assumption: Desk assumption, not company guidance.
Cash after equity withholding downside_2027q3_cash_after_withholding	2027Q3 / downside	13.00 USD_millions	derived: Financing-classified withholding; no double deduction of GAAP SBC expense. Formula: subtract(downside_2027q3_company_fcf, downside_2027q3_withholding).
Atlas revenue proxy downside_2027q4_atlas_proxy	2027Q4 / downside	508.36 USD_millions	derived: Annual Atlas scenario less approximate H1 and Q3. Formula: subtract(downside_h2_atlas, downside_2027q3_atlas_proxy).
Remaining revenue proxy downside_2027q4_other_proxy	2027Q4 / downside	193.69 USD_millions	derived: Annual remaining-business scenario less H1 proxy and Q3. Formula: subtract(downside_h2_other, downside_2027q3_other_proxy).
Consolidated revenue downside_2027q4_revenue	2027Q4 / downside	702.05 USD_millions	derived: Two mutually exclusive revenue buckets cover the whole company. Formula: sum(downside_2027q4_atlas_proxy, downside_2027q4_other_proxy).
atlas GAAP gross margin downside_2027q4_atlas_margin	2027Q4 / downside	68.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
atlas gross profit proxy downside_2027q4_atlas_gross	2027Q4 / downside	345.68 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(downside_2027q4_atlas_proxy, downside_2027q4_atlas_margin).
other GAAP gross margin downside_2027q4_other_margin	2027Q4 / downside	80.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
other gross profit proxy downside_2027q4_other_gross	2027Q4 / downside	154.96 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(downside_2027q4_other_proxy, downside_2027q4_other_margin).
GAAP gross profit downside_2027q4_gross_profit	2027Q4 / downside	500.64 USD_millions	derived: Sum of analytical business contributions. Formula: sum(downside_2027q4_atlas_gross, downside_2027q4_other_gross).
Total expensed stock compensation downside_2027q4_sbc	2027Q4 / downside	157.00 USD_millions	assumption: Desk assumption, not company guidance.
GAAP operating income downside_2027q4_operating_income	2027Q4 / downside	-41.60 USD_millions	derived: Annual GAAP result less actual H1 and forecast Q3. Formula: subtract(downside_h2_op, downside_2027q3_operating_income).
Noncash depreciation/amortization downside_2027q4_da	2027Q4 / downside	8.50 USD_millions	assumption: Desk assumption, not company guidance.
Interest income less cash tax downside_2027q4_net_interest_cash_tax	2027Q4 / downside	12.00 USD_millions	assumption: Desk $17M net interest less $5M cash taxes; no future investment-security gain assumed.
Cash earnings before working capital downside_2027q4_before_wc	2027Q4 / downside	135.90 USD_millions	derived: Includes expensed SBC once; no negative tax refund forced from GAAP losses. Formula: sum(downside_2027q4_operating_income, downside_2027q4_sbc, downside_2027q4_da, downside_2027q4_net_interest_cash_tax).
Net operating working-capital use downside_2027q4_wc	2027Q4 / downside	10.00 USD_millions	assumption: Includes receivables, deferred revenue, commissions and other cash timing; positive use/negative source.
Operating cash flow downside_2027q4_cfo	2027Q4 / downside	125.90 USD_millions	derived: Atlas billed in arrears can grow without equivalent upfront deferred-revenue funding. Formula: subtract(downside_2027q4_before_wc, downside_2027q4_wc).
Cash PP&E and other asset purchases downside_2027q4_capex	2027Q4 / downside	3.00 USD_millions	assumption: Desk assumption, not company guidance.
Finance-lease principal paid downside_2027q4_lease_principal	2027Q4 / downside	2.00 USD_millions	assumption: Desk assumption, not company guidance.
CFO less PP&E downside_2027q4_fcf	2027Q4 / downside	122.90 USD_millions	derived: Generic historical FCF scope. Formula: subtract(downside_2027q4_cfo, downside_2027q4_capex).
Company-definition FCF downside_2027q4_company_fcf	2027Q4 / downside	120.90 USD_millions	derived: Company additionally subtracts finance-lease principal, a financing outflow. Formula: subtract(downside_2027q4_fcf, downside_2027q4_lease_principal).
Taxes on net-settled equity awards downside_2027q4_withholding	2027Q4 / downside	70.00 USD_millions	assumption: Desk assumption, not company guidance.
Cash after equity withholding downside_2027q4_cash_after_withholding	2027Q4 / downside	50.90 USD_millions	derived: Financing-classified withholding; no double deduction of GAAP SBC expense. Formula: subtract(downside_2027q4_company_fcf, downside_2027q4_withholding).
Share of annual Atlas revenue downside_2028q1_atlas_weight	2028Q1 / downside	23.0% ratio	assumption: Desk assumption, not company guidance.
Atlas revenue proxy downside_2028q1_atlas_proxy	2028Q1 / downside	575.42 USD_millions	derived: Consumption phasing, not fixed contracted quarterly revenue. Formula: multiply(downside_fy28_atlas_target, downside_2028q1_atlas_weight).
Share of annual remaining revenue downside_2028q1_other_weight	2028Q1 / downside	23.0% ratio	assumption: Desk assumption, not company guidance.
Remaining revenue proxy downside_2028q1_other_proxy	2028Q1 / downside	172.80 USD_millions	derived: Allows different renewal/license seasonality from Atlas. Formula: multiply(downside_fy28_other_target, downside_2028q1_other_weight).
Consolidated revenue downside_2028q1_revenue	2028Q1 / downside	748.22 USD_millions	derived: Two mutually exclusive revenue buckets cover the whole company. Formula: sum(downside_2028q1_atlas_proxy, downside_2028q1_other_proxy).
atlas GAAP gross margin downside_2028q1_atlas_margin	2028Q1 / downside	68.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
atlas gross profit proxy downside_2028q1_atlas_gross	2028Q1 / downside	391.28 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(downside_2028q1_atlas_proxy, downside_2028q1_atlas_margin).
other GAAP gross margin downside_2028q1_other_margin	2028Q1 / downside	80.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
other gross profit proxy downside_2028q1_other_gross	2028Q1 / downside	138.24 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(downside_2028q1_other_proxy, downside_2028q1_other_margin).
GAAP gross profit downside_2028q1_gross_profit	2028Q1 / downside	529.52 USD_millions	derived: Sum of analytical business contributions. Formula: sum(downside_2028q1_atlas_gross, downside_2028q1_other_gross).
Total expensed stock compensation downside_2028q1_sbc	2028Q1 / downside	160.00 USD_millions	assumption: Desk assumption, not company guidance.
Operating expense excluding SBC / revenue downside_2028q1_cash_opex_ratio	2028Q1 / downside	52.0% ratio	assumption: Includes non-SBC amortization and ordinary costs; not a disclosed company margin.
Operating expenses excluding SBC downside_2028q1_cash_opex	2028Q1 / downside	389.07 USD_millions	derived: Desk operating leverage assumption. Formula: multiply(downside_2028q1_revenue, downside_2028q1_cash_opex_ratio).
SBC already in cost of revenue downside_2028q1_cogs_sbc	2028Q1 / downside	14.00 USD_millions	assumption: Desk assumption, not company guidance.
SBC in operating expenses downside_2028q1_opex_sbc	2028Q1 / downside	146.00 USD_millions	derived: Total SBC less amount already reflected in gross profit; avoids double counting. Formula: subtract(downside_2028q1_sbc, downside_2028q1_cogs_sbc).
GAAP operating expenses downside_2028q1_gaap_opex	2028Q1 / downside	535.07 USD_millions	derived: Operating cost scope excludes SBC already in cost of revenue. Formula: sum(downside_2028q1_cash_opex, downside_2028q1_opex_sbc).
GAAP operating income downside_2028q1_operating_income	2028Q1 / downside	-5.55 USD_millions	derived: Independent FY2028 business/expense forecast. Formula: subtract(downside_2028q1_gross_profit, downside_2028q1_gaap_opex).
Noncash depreciation/amortization downside_2028q1_da	2028Q1 / downside	9.00 USD_millions	assumption: Desk assumption, not company guidance.
Interest income less cash tax downside_2028q1_net_interest_cash_tax	2028Q1 / downside	12.00 USD_millions	assumption: Desk $17M net interest less $5M cash taxes; no future investment-security gain assumed.
Cash earnings before working capital downside_2028q1_before_wc	2028Q1 / downside	175.45 USD_millions	derived: Includes expensed SBC once; no negative tax refund forced from GAAP losses. Formula: sum(downside_2028q1_operating_income, downside_2028q1_sbc, downside_2028q1_da, downside_2028q1_net_interest_cash_tax).
Net operating working-capital use downside_2028q1_wc	2028Q1 / downside	20.00 USD_millions	assumption: Includes receivables, deferred revenue, commissions and other cash timing; positive use/negative source.
Operating cash flow downside_2028q1_cfo	2028Q1 / downside	155.45 USD_millions	derived: Atlas billed in arrears can grow without equivalent upfront deferred-revenue funding. Formula: subtract(downside_2028q1_before_wc, downside_2028q1_wc).
Cash PP&E and other asset purchases downside_2028q1_capex	2028Q1 / downside	4.00 USD_millions	assumption: Desk assumption, not company guidance.
Finance-lease principal paid downside_2028q1_lease_principal	2028Q1 / downside	2.00 USD_millions	assumption: Desk assumption, not company guidance.
CFO less PP&E downside_2028q1_fcf	2028Q1 / downside	151.45 USD_millions	derived: Generic historical FCF scope. Formula: subtract(downside_2028q1_cfo, downside_2028q1_capex).
Company-definition FCF downside_2028q1_company_fcf	2028Q1 / downside	149.45 USD_millions	derived: Company additionally subtracts finance-lease principal, a financing outflow. Formula: subtract(downside_2028q1_fcf, downside_2028q1_lease_principal).
Taxes on net-settled equity awards downside_2028q1_withholding	2028Q1 / downside	80.00 USD_millions	assumption: Desk assumption, not company guidance.
Cash after equity withholding downside_2028q1_cash_after_withholding	2028Q1 / downside	69.45 USD_millions	derived: Financing-classified withholding; no double deduction of GAAP SBC expense. Formula: subtract(downside_2028q1_company_fcf, downside_2028q1_withholding).
Share of annual Atlas revenue downside_2028q2_atlas_weight	2028Q2 / downside	24.5% ratio	assumption: Desk assumption, not company guidance.
Atlas revenue proxy downside_2028q2_atlas_proxy	2028Q2 / downside	612.94 USD_millions	derived: Consumption phasing, not fixed contracted quarterly revenue. Formula: multiply(downside_fy28_atlas_target, downside_2028q2_atlas_weight).
Share of annual remaining revenue downside_2028q2_other_weight	2028Q2 / downside	27.0% ratio	assumption: Desk assumption, not company guidance.
Remaining revenue proxy downside_2028q2_other_proxy	2028Q2 / downside	202.85 USD_millions	derived: Allows different renewal/license seasonality from Atlas. Formula: multiply(downside_fy28_other_target, downside_2028q2_other_weight).
Consolidated revenue downside_2028q2_revenue	2028Q2 / downside	815.79 USD_millions	derived: Two mutually exclusive revenue buckets cover the whole company. Formula: sum(downside_2028q2_atlas_proxy, downside_2028q2_other_proxy).
atlas GAAP gross margin downside_2028q2_atlas_margin	2028Q2 / downside	68.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
atlas gross profit proxy downside_2028q2_atlas_gross	2028Q2 / downside	416.80 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(downside_2028q2_atlas_proxy, downside_2028q2_atlas_margin).
other GAAP gross margin downside_2028q2_other_margin	2028Q2 / downside	80.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
other gross profit proxy downside_2028q2_other_gross	2028Q2 / downside	162.28 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(downside_2028q2_other_proxy, downside_2028q2_other_margin).
GAAP gross profit downside_2028q2_gross_profit	2028Q2 / downside	579.08 USD_millions	derived: Sum of analytical business contributions. Formula: sum(downside_2028q2_atlas_gross, downside_2028q2_other_gross).
Total expensed stock compensation downside_2028q2_sbc	2028Q2 / downside	165.00 USD_millions	assumption: Desk assumption, not company guidance.
Operating expense excluding SBC / revenue downside_2028q2_cash_opex_ratio	2028Q2 / downside	52.0% ratio	assumption: Includes non-SBC amortization and ordinary costs; not a disclosed company margin.
Operating expenses excluding SBC downside_2028q2_cash_opex	2028Q2 / downside	424.21 USD_millions	derived: Desk operating leverage assumption. Formula: multiply(downside_2028q2_revenue, downside_2028q2_cash_opex_ratio).
SBC already in cost of revenue downside_2028q2_cogs_sbc	2028Q2 / downside	15.00 USD_millions	assumption: Desk assumption, not company guidance.
SBC in operating expenses downside_2028q2_opex_sbc	2028Q2 / downside	150.00 USD_millions	derived: Total SBC less amount already reflected in gross profit; avoids double counting. Formula: subtract(downside_2028q2_sbc, downside_2028q2_cogs_sbc).
GAAP operating expenses downside_2028q2_gaap_opex	2028Q2 / downside	574.21 USD_millions	derived: Operating cost scope excludes SBC already in cost of revenue. Formula: sum(downside_2028q2_cash_opex, downside_2028q2_opex_sbc).
GAAP operating income downside_2028q2_operating_income	2028Q2 / downside	4.87 USD_millions	derived: Independent FY2028 business/expense forecast. Formula: subtract(downside_2028q2_gross_profit, downside_2028q2_gaap_opex).
Noncash depreciation/amortization downside_2028q2_da	2028Q2 / downside	9.50 USD_millions	assumption: Desk assumption, not company guidance.
Interest income less cash tax downside_2028q2_net_interest_cash_tax	2028Q2 / downside	12.00 USD_millions	assumption: Desk $17M net interest less $5M cash taxes; no future investment-security gain assumed.
Cash earnings before working capital downside_2028q2_before_wc	2028Q2 / downside	191.37 USD_millions	derived: Includes expensed SBC once; no negative tax refund forced from GAAP losses. Formula: sum(downside_2028q2_operating_income, downside_2028q2_sbc, downside_2028q2_da, downside_2028q2_net_interest_cash_tax).
Net operating working-capital use downside_2028q2_wc	2028Q2 / downside	30.00 USD_millions	assumption: Includes receivables, deferred revenue, commissions and other cash timing; positive use/negative source.
Operating cash flow downside_2028q2_cfo	2028Q2 / downside	161.37 USD_millions	derived: Atlas billed in arrears can grow without equivalent upfront deferred-revenue funding. Formula: subtract(downside_2028q2_before_wc, downside_2028q2_wc).
Cash PP&E and other asset purchases downside_2028q2_capex	2028Q2 / downside	4.00 USD_millions	assumption: Desk assumption, not company guidance.
Finance-lease principal paid downside_2028q2_lease_principal	2028Q2 / downside	2.00 USD_millions	assumption: Desk assumption, not company guidance.
CFO less PP&E downside_2028q2_fcf	2028Q2 / downside	157.37 USD_millions	derived: Generic historical FCF scope. Formula: subtract(downside_2028q2_cfo, downside_2028q2_capex).
Company-definition FCF downside_2028q2_company_fcf	2028Q2 / downside	155.37 USD_millions	derived: Company additionally subtracts finance-lease principal, a financing outflow. Formula: subtract(downside_2028q2_fcf, downside_2028q2_lease_principal).
Taxes on net-settled equity awards downside_2028q2_withholding	2028Q2 / downside	75.00 USD_millions	assumption: Desk assumption, not company guidance.
Cash after equity withholding downside_2028q2_cash_after_withholding	2028Q2 / downside	80.37 USD_millions	derived: Financing-classified withholding; no double deduction of GAAP SBC expense. Formula: subtract(downside_2028q2_company_fcf, downside_2028q2_withholding).
Share of annual Atlas revenue downside_2028q3_atlas_weight	2028Q3 / downside	25.5% ratio	assumption: Desk assumption, not company guidance.
Atlas revenue proxy downside_2028q3_atlas_proxy	2028Q3 / downside	637.96 USD_millions	derived: Consumption phasing, not fixed contracted quarterly revenue. Formula: multiply(downside_fy28_atlas_target, downside_2028q3_atlas_weight).
Share of annual remaining revenue downside_2028q3_other_weight	2028Q3 / downside	24.0% ratio	assumption: Desk assumption, not company guidance.
Remaining revenue proxy downside_2028q3_other_proxy	2028Q3 / downside	180.31 USD_millions	derived: Allows different renewal/license seasonality from Atlas. Formula: multiply(downside_fy28_other_target, downside_2028q3_other_weight).
Consolidated revenue downside_2028q3_revenue	2028Q3 / downside	818.27 USD_millions	derived: Two mutually exclusive revenue buckets cover the whole company. Formula: sum(downside_2028q3_atlas_proxy, downside_2028q3_other_proxy).
atlas GAAP gross margin downside_2028q3_atlas_margin	2028Q3 / downside	68.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
atlas gross profit proxy downside_2028q3_atlas_gross	2028Q3 / downside	433.81 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(downside_2028q3_atlas_proxy, downside_2028q3_atlas_margin).
other GAAP gross margin downside_2028q3_other_margin	2028Q3 / downside	80.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
other gross profit proxy downside_2028q3_other_gross	2028Q3 / downside	144.25 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(downside_2028q3_other_proxy, downside_2028q3_other_margin).
GAAP gross profit downside_2028q3_gross_profit	2028Q3 / downside	578.06 USD_millions	derived: Sum of analytical business contributions. Formula: sum(downside_2028q3_atlas_gross, downside_2028q3_other_gross).
Total expensed stock compensation downside_2028q3_sbc	2028Q3 / downside	170.00 USD_millions	assumption: Desk assumption, not company guidance.
Operating expense excluding SBC / revenue downside_2028q3_cash_opex_ratio	2028Q3 / downside	52.0% ratio	assumption: Includes non-SBC amortization and ordinary costs; not a disclosed company margin.
Operating expenses excluding SBC downside_2028q3_cash_opex	2028Q3 / downside	425.50 USD_millions	derived: Desk operating leverage assumption. Formula: multiply(downside_2028q3_revenue, downside_2028q3_cash_opex_ratio).
SBC already in cost of revenue downside_2028q3_cogs_sbc	2028Q3 / downside	16.00 USD_millions	assumption: Desk assumption, not company guidance.
SBC in operating expenses downside_2028q3_opex_sbc	2028Q3 / downside	154.00 USD_millions	derived: Total SBC less amount already reflected in gross profit; avoids double counting. Formula: subtract(downside_2028q3_sbc, downside_2028q3_cogs_sbc).
GAAP operating expenses downside_2028q3_gaap_opex	2028Q3 / downside	579.50 USD_millions	derived: Operating cost scope excludes SBC already in cost of revenue. Formula: sum(downside_2028q3_cash_opex, downside_2028q3_opex_sbc).
GAAP operating income downside_2028q3_operating_income	2028Q3 / downside	-1.44 USD_millions	derived: Independent FY2028 business/expense forecast. Formula: subtract(downside_2028q3_gross_profit, downside_2028q3_gaap_opex).
Noncash depreciation/amortization downside_2028q3_da	2028Q3 / downside	10.00 USD_millions	assumption: Desk assumption, not company guidance.
Interest income less cash tax downside_2028q3_net_interest_cash_tax	2028Q3 / downside	12.00 USD_millions	assumption: Desk $17M net interest less $5M cash taxes; no future investment-security gain assumed.
Cash earnings before working capital downside_2028q3_before_wc	2028Q3 / downside	190.56 USD_millions	derived: Includes expensed SBC once; no negative tax refund forced from GAAP losses. Formula: sum(downside_2028q3_operating_income, downside_2028q3_sbc, downside_2028q3_da, downside_2028q3_net_interest_cash_tax).
Net operating working-capital use downside_2028q3_wc	2028Q3 / downside	40.00 USD_millions	assumption: Includes receivables, deferred revenue, commissions and other cash timing; positive use/negative source.
Operating cash flow downside_2028q3_cfo	2028Q3 / downside	150.56 USD_millions	derived: Atlas billed in arrears can grow without equivalent upfront deferred-revenue funding. Formula: subtract(downside_2028q3_before_wc, downside_2028q3_wc).
Cash PP&E and other asset purchases downside_2028q3_capex	2028Q3 / downside	4.00 USD_millions	assumption: Desk assumption, not company guidance.
Finance-lease principal paid downside_2028q3_lease_principal	2028Q3 / downside	2.00 USD_millions	assumption: Desk assumption, not company guidance.
CFO less PP&E downside_2028q3_fcf	2028Q3 / downside	146.56 USD_millions	derived: Generic historical FCF scope. Formula: subtract(downside_2028q3_cfo, downside_2028q3_capex).
Company-definition FCF downside_2028q3_company_fcf	2028Q3 / downside	144.56 USD_millions	derived: Company additionally subtracts finance-lease principal, a financing outflow. Formula: subtract(downside_2028q3_fcf, downside_2028q3_lease_principal).
Taxes on net-settled equity awards downside_2028q3_withholding	2028Q3 / downside	80.00 USD_millions	assumption: Desk assumption, not company guidance.
Cash after equity withholding downside_2028q3_cash_after_withholding	2028Q3 / downside	64.56 USD_millions	derived: Financing-classified withholding; no double deduction of GAAP SBC expense. Formula: subtract(downside_2028q3_company_fcf, downside_2028q3_withholding).
Share of annual Atlas revenue downside_2028q4_atlas_weight	2028Q4 / downside	27.0% ratio	assumption: Desk assumption, not company guidance.
Atlas revenue proxy downside_2028q4_atlas_proxy	2028Q4 / downside	675.49 USD_millions	derived: Consumption phasing, not fixed contracted quarterly revenue. Formula: multiply(downside_fy28_atlas_target, downside_2028q4_atlas_weight).
Share of annual remaining revenue downside_2028q4_other_weight	2028Q4 / downside	26.0% ratio	assumption: Desk assumption, not company guidance.
Remaining revenue proxy downside_2028q4_other_proxy	2028Q4 / downside	195.34 USD_millions	derived: Allows different renewal/license seasonality from Atlas. Formula: multiply(downside_fy28_other_target, downside_2028q4_other_weight).
Consolidated revenue downside_2028q4_revenue	2028Q4 / downside	870.83 USD_millions	derived: Two mutually exclusive revenue buckets cover the whole company. Formula: sum(downside_2028q4_atlas_proxy, downside_2028q4_other_proxy).
atlas GAAP gross margin downside_2028q4_atlas_margin	2028Q4 / downside	68.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
atlas gross profit proxy downside_2028q4_atlas_gross	2028Q4 / downside	459.33 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(downside_2028q4_atlas_proxy, downside_2028q4_atlas_margin).
other GAAP gross margin downside_2028q4_other_margin	2028Q4 / downside	80.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
other gross profit proxy downside_2028q4_other_gross	2028Q4 / downside	156.27 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(downside_2028q4_other_proxy, downside_2028q4_other_margin).
GAAP gross profit downside_2028q4_gross_profit	2028Q4 / downside	615.60 USD_millions	derived: Sum of analytical business contributions. Formula: sum(downside_2028q4_atlas_gross, downside_2028q4_other_gross).
Total expensed stock compensation downside_2028q4_sbc	2028Q4 / downside	175.00 USD_millions	assumption: Desk assumption, not company guidance.
Operating expense excluding SBC / revenue downside_2028q4_cash_opex_ratio	2028Q4 / downside	52.0% ratio	assumption: Includes non-SBC amortization and ordinary costs; not a disclosed company margin.
Operating expenses excluding SBC downside_2028q4_cash_opex	2028Q4 / downside	452.83 USD_millions	derived: Desk operating leverage assumption. Formula: multiply(downside_2028q4_revenue, downside_2028q4_cash_opex_ratio).
SBC already in cost of revenue downside_2028q4_cogs_sbc	2028Q4 / downside	17.00 USD_millions	assumption: Desk assumption, not company guidance.
SBC in operating expenses downside_2028q4_opex_sbc	2028Q4 / downside	158.00 USD_millions	derived: Total SBC less amount already reflected in gross profit; avoids double counting. Formula: subtract(downside_2028q4_sbc, downside_2028q4_cogs_sbc).
GAAP operating expenses downside_2028q4_gaap_opex	2028Q4 / downside	610.83 USD_millions	derived: Operating cost scope excludes SBC already in cost of revenue. Formula: sum(downside_2028q4_cash_opex, downside_2028q4_opex_sbc).
GAAP operating income downside_2028q4_operating_income	2028Q4 / downside	4.77 USD_millions	derived: Independent FY2028 business/expense forecast. Formula: subtract(downside_2028q4_gross_profit, downside_2028q4_gaap_opex).
Noncash depreciation/amortization downside_2028q4_da	2028Q4 / downside	10.50 USD_millions	assumption: Desk assumption, not company guidance.
Interest income less cash tax downside_2028q4_net_interest_cash_tax	2028Q4 / downside	12.00 USD_millions	assumption: Desk $17M net interest less $5M cash taxes; no future investment-security gain assumed.
Cash earnings before working capital downside_2028q4_before_wc	2028Q4 / downside	202.27 USD_millions	derived: Includes expensed SBC once; no negative tax refund forced from GAAP losses. Formula: sum(downside_2028q4_operating_income, downside_2028q4_sbc, downside_2028q4_da, downside_2028q4_net_interest_cash_tax).
Net operating working-capital use downside_2028q4_wc	2028Q4 / downside	10.00 USD_millions	assumption: Includes receivables, deferred revenue, commissions and other cash timing; positive use/negative source.
Operating cash flow downside_2028q4_cfo	2028Q4 / downside	192.27 USD_millions	derived: Atlas billed in arrears can grow without equivalent upfront deferred-revenue funding. Formula: subtract(downside_2028q4_before_wc, downside_2028q4_wc).
Cash PP&E and other asset purchases downside_2028q4_capex	2028Q4 / downside	4.00 USD_millions	assumption: Desk assumption, not company guidance.
Finance-lease principal paid downside_2028q4_lease_principal	2028Q4 / downside	2.00 USD_millions	assumption: Desk assumption, not company guidance.
CFO less PP&E downside_2028q4_fcf	2028Q4 / downside	188.27 USD_millions	derived: Generic historical FCF scope. Formula: subtract(downside_2028q4_cfo, downside_2028q4_capex).
Company-definition FCF downside_2028q4_company_fcf	2028Q4 / downside	186.27 USD_millions	derived: Company additionally subtracts finance-lease principal, a financing outflow. Formula: subtract(downside_2028q4_fcf, downside_2028q4_lease_principal).
Taxes on net-settled equity awards downside_2028q4_withholding	2028Q4 / downside	85.00 USD_millions	assumption: Desk assumption, not company guidance.
Cash after equity withholding downside_2028q4_cash_after_withholding	2028Q4 / downside	101.27 USD_millions	derived: Financing-classified withholding; no double deduction of GAAP SBC expense. Formula: subtract(downside_2028q4_company_fcf, downside_2028q4_withholding).
Consolidated revenue ($M) downside_fy2027_revenue	FY2027 / downside	2,889.60 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_revenue, downside_2027q3_revenue, downside_2027q4_revenue).
Atlas revenue proxy ($M) downside_fy2027_atlas_proxy	FY2027 / downside	2,138.30 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_atlas_proxy, downside_2027q3_atlas_proxy, downside_2027q4_atlas_proxy).
Remaining revenue proxy ($M) downside_fy2027_other_proxy	FY2027 / downside	751.30 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_other_proxy, downside_2027q3_other_proxy, downside_2027q4_other_proxy).
GAAP gross profit ($M) downside_fy2027_gross_profit	FY2027 / downside	2,083.11 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_gross_profit, downside_2027q3_gross_profit, downside_2027q4_gross_profit).
GAAP operating income ($M) downside_fy2027_operating_income	FY2027 / downside	-83.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_operating_income, downside_2027q3_operating_income, downside_2027q4_operating_income).
Operating cash flow ($M) downside_fy2027_cfo	FY2027 / downside	552.41 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cfo, downside_2027q3_cfo, downside_2027q4_cfo).
PP&E and other asset purchases ($M) downside_fy2027_capex	FY2027 / downside	10.79 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_capex, downside_2027q3_capex, downside_2027q4_capex).
Finance-lease principal ($M) downside_fy2027_lease_principal	FY2027 / downside	7.55 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_lease_principal, downside_2027q3_lease_principal, downside_2027q4_lease_principal).
CFO less PP&E ($M) downside_fy2027_fcf	FY2027 / downside	541.62 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_fcf, downside_2027q3_fcf, downside_2027q4_fcf).
CFO less PP&E and lease principal ($M) downside_fy2027_company_fcf	FY2027 / downside	534.07 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_company_fcf, downside_2027q3_company_fcf, downside_2027q4_company_fcf).
Company FCF less share withholding ($M) downside_fy2027_cash_after_withholding	FY2027 / downside	281.40 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cash_after_withholding, downside_2027q3_cash_after_withholding, downside_2027q4_cash_after_withholding).
Consolidated revenue ($M) downside_fy2028_revenue	FY2028 / downside	3,253.11 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2028q1_revenue, downside_2028q2_revenue, downside_2028q3_revenue, downside_2028q4_revenue).
Atlas revenue proxy ($M) downside_fy2028_atlas_proxy	FY2028 / downside	2,501.82 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2028q1_atlas_proxy, downside_2028q2_atlas_proxy, downside_2028q3_atlas_proxy, downside_2028q4_atlas_proxy).
Remaining revenue proxy ($M) downside_fy2028_other_proxy	FY2028 / downside	751.30 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2028q1_other_proxy, downside_2028q2_other_proxy, downside_2028q3_other_proxy, downside_2028q4_other_proxy).
GAAP gross profit ($M) downside_fy2028_gross_profit	FY2028 / downside	2,302.27 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2028q1_gross_profit, downside_2028q2_gross_profit, downside_2028q3_gross_profit, downside_2028q4_gross_profit).
GAAP operating income ($M) downside_fy2028_operating_income	FY2028 / downside	2.65 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2028q1_operating_income, downside_2028q2_operating_income, downside_2028q3_operating_income, downside_2028q4_operating_income).
Operating cash flow ($M) downside_fy2028_cfo	FY2028 / downside	659.65 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2028q1_cfo, downside_2028q2_cfo, downside_2028q3_cfo, downside_2028q4_cfo).
PP&E and other asset purchases ($M) downside_fy2028_capex	FY2028 / downside	16.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2028q1_capex, downside_2028q2_capex, downside_2028q3_capex, downside_2028q4_capex).
Finance-lease principal ($M) downside_fy2028_lease_principal	FY2028 / downside	8.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2028q1_lease_principal, downside_2028q2_lease_principal, downside_2028q3_lease_principal, downside_2028q4_lease_principal).
CFO less PP&E ($M) downside_fy2028_fcf	FY2028 / downside	643.65 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2028q1_fcf, downside_2028q2_fcf, downside_2028q3_fcf, downside_2028q4_fcf).
CFO less PP&E and lease principal ($M) downside_fy2028_company_fcf	FY2028 / downside	635.65 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2028q1_company_fcf, downside_2028q2_company_fcf, downside_2028q3_company_fcf, downside_2028q4_company_fcf).
Company FCF less share withholding ($M) downside_fy2028_cash_after_withholding	FY2028 / downside	315.65 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2028q1_cash_after_withholding, downside_2028q2_cash_after_withholding, downside_2028q3_cash_after_withholding, downside_2028q4_cash_after_withholding).
FY2027 revenue versus guide midpoint base_delivery	FY2027 / base	100.0% ratio	assumption: Desk demand/timing sensitivity.
FY2027 revenue base_fy27_revenue_target	FY2027 / base	3,010.00 USD_millions	derived: Guidance midpoint times scenario delivery. Formula: multiply(fy27_revenue_guide, base_delivery).
FY2027 Atlas revenue share base_atlas_mix	FY2027 / base	76.0% ratio	assumption: Desk mix, not reported exact Atlas revenue or management mix guidance.
FY2027 Atlas proxy base_fy27_atlas_target	FY2027 / base	2,287.60 USD_millions	derived: Annual total times assumed mix. Formula: multiply(base_fy27_revenue_target, base_atlas_mix).
FY2027 remainder proxy base_fy27_other_target	FY2027 / base	722.40 USD_millions	derived: Includes all non-Atlas revenue, not only EA. Formula: subtract(base_fy27_revenue_target, base_fy27_atlas_target).
FY2027 operating profit versus guide midpoint base_op_delta	FY2027 / base	0.00 USD_millions	assumption: Desk execution sensitivity in dollars; downside can fall outside guidance.
FY2027 GAAP operating result base_fy27_op_target	FY2027 / base	-18.00 USD_millions	derived: Base equals reported GAAP guidance midpoint. Formula: sum(fy27_gaap_op_guide, base_op_delta).
H2 revenue base_h2_revenue	H2 FY2027 / base	1,550.61 USD_millions	derived: Annual scenario less known consolidated actual or explicitly approximate mix allocation. Formula: subtract(base_fy27_revenue_target, h1_revenue).
H2 atlas base_h2_atlas	H2 FY2027 / base	1,207.65 USD_millions	derived: Annual scenario less known consolidated actual or explicitly approximate mix allocation. Formula: subtract(base_fy27_atlas_target, h1_atlas_proxy).
H2 other base_h2_other	H2 FY2027 / base	342.96 USD_millions	derived: Annual scenario less known consolidated actual or explicitly approximate mix allocation. Formula: subtract(base_fy27_other_target, h1_other_proxy).
H2 op base_h2_op	H2 FY2027 / base	-21.60 USD_millions	derived: Annual scenario less known consolidated actual or explicitly approximate mix allocation. Formula: subtract(base_fy27_op_target, h1_operating_income).
FY2028 atlas growth multiplier base_atlas_growth	FY2028 / base	130.0% ratio	assumption: Independent desk growth by business driver.
FY2028 atlas revenue proxy base_fy28_atlas_target	FY2028 / base	2,973.88 USD_millions	derived: Growth applied independently; no additional AI product revenue added. Formula: multiply(base_fy27_atlas_target, base_atlas_growth).
FY2028 other growth multiplier base_other_growth	FY2028 / base	112.0% ratio	assumption: Independent desk growth by business driver.
FY2028 other revenue proxy base_fy28_other_target	FY2028 / base	809.09 USD_millions	derived: Growth applied independently; no additional AI product revenue added. Formula: multiply(base_fy27_other_target, base_other_growth).
Atlas revenue proxy base_2027q3_atlas_proxy	2027Q3 / base	580.00 USD_millions	assumption: Desk assumption, not company guidance.
Quarter total revenue base_2027q3_total_reference	2027Q3 / base	758.50 USD_millions	derived: Q3 midpoint times delivery factor. Formula: multiply(q3_revenue_guide, base_delivery).
Remaining revenue proxy base_2027q3_other_proxy	2027Q3 / base	178.50 USD_millions	derived: Remainder required by total revenue scenario. Formula: subtract(base_2027q3_total_reference, base_2027q3_atlas_proxy).
Consolidated revenue base_2027q3_revenue	2027Q3 / base	758.50 USD_millions	derived: Two mutually exclusive revenue buckets cover the whole company. Formula: sum(base_2027q3_atlas_proxy, base_2027q3_other_proxy).
atlas GAAP gross margin base_2027q3_atlas_margin	2027Q3 / base	71.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
atlas gross profit proxy base_2027q3_atlas_gross	2027Q3 / base	411.80 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(base_2027q3_atlas_proxy, base_2027q3_atlas_margin).
other GAAP gross margin base_2027q3_other_margin	2027Q3 / base	84.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
other gross profit proxy base_2027q3_other_gross	2027Q3 / base	149.94 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(base_2027q3_other_proxy, base_2027q3_other_margin).
GAAP gross profit base_2027q3_gross_profit	2027Q3 / base	561.74 USD_millions	derived: Sum of analytical business contributions. Formula: sum(base_2027q3_atlas_gross, base_2027q3_other_gross).
Total expensed stock compensation base_2027q3_sbc	2027Q3 / base	150.00 USD_millions	assumption: Desk assumption, not company guidance.
Q3 execution sensitivity share base_2027q3_op_delta_share	2027Q3 / base	50.0% ratio	assumption: Desk assumption, not company guidance.
Q3 share of annual execution sensitivity base_2027q3_op_delta	2027Q3 / base	0.00 USD_millions	derived: Remaining half is reflected in Q4. Formula: multiply(base_op_delta, base_2027q3_op_delta_share).
GAAP operating income base_2027q3_operating_income	2027Q3 / base	-12.50 USD_millions	derived: Base equals Q3 GAAP loss guidance midpoint, not Q2 run rate. Formula: sum(q3_gaap_op_guide, base_2027q3_op_delta).
Noncash depreciation/amortization base_2027q3_da	2027Q3 / base	8.00 USD_millions	assumption: Desk assumption, not company guidance.
Interest income less cash tax base_2027q3_net_interest_cash_tax	2027Q3 / base	12.00 USD_millions	assumption: Desk $17M net interest less $5M cash taxes; no future investment-security gain assumed.
Cash earnings before working capital base_2027q3_before_wc	2027Q3 / base	157.50 USD_millions	derived: Includes expensed SBC once; no negative tax refund forced from GAAP losses. Formula: sum(base_2027q3_operating_income, base_2027q3_sbc, base_2027q3_da, base_2027q3_net_interest_cash_tax).
Net operating working-capital use base_2027q3_wc	2027Q3 / base	15.00 USD_millions	assumption: Includes receivables, deferred revenue, commissions and other cash timing; positive use/negative source.
Operating cash flow base_2027q3_cfo	2027Q3 / base	142.50 USD_millions	derived: Atlas billed in arrears can grow without equivalent upfront deferred-revenue funding. Formula: subtract(base_2027q3_before_wc, base_2027q3_wc).
Cash PP&E and other asset purchases base_2027q3_capex	2027Q3 / base	3.00 USD_millions	assumption: Desk assumption, not company guidance.
Finance-lease principal paid base_2027q3_lease_principal	2027Q3 / base	2.00 USD_millions	assumption: Desk assumption, not company guidance.
CFO less PP&E base_2027q3_fcf	2027Q3 / base	139.50 USD_millions	derived: Generic historical FCF scope. Formula: subtract(base_2027q3_cfo, base_2027q3_capex).
Company-definition FCF base_2027q3_company_fcf	2027Q3 / base	137.50 USD_millions	derived: Company additionally subtracts finance-lease principal, a financing outflow. Formula: subtract(base_2027q3_fcf, base_2027q3_lease_principal).
Taxes on net-settled equity awards base_2027q3_withholding	2027Q3 / base	55.00 USD_millions	assumption: Desk assumption, not company guidance.
Cash after equity withholding base_2027q3_cash_after_withholding	2027Q3 / base	82.50 USD_millions	derived: Financing-classified withholding; no double deduction of GAAP SBC expense. Formula: subtract(base_2027q3_company_fcf, base_2027q3_withholding).
Atlas revenue proxy base_2027q4_atlas_proxy	2027Q4 / base	627.65 USD_millions	derived: Annual Atlas scenario less approximate H1 and Q3. Formula: subtract(base_h2_atlas, base_2027q3_atlas_proxy).
Remaining revenue proxy base_2027q4_other_proxy	2027Q4 / base	164.46 USD_millions	derived: Annual remaining-business scenario less H1 proxy and Q3. Formula: subtract(base_h2_other, base_2027q3_other_proxy).
Consolidated revenue base_2027q4_revenue	2027Q4 / base	792.11 USD_millions	derived: Two mutually exclusive revenue buckets cover the whole company. Formula: sum(base_2027q4_atlas_proxy, base_2027q4_other_proxy).
atlas GAAP gross margin base_2027q4_atlas_margin	2027Q4 / base	71.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
atlas gross profit proxy base_2027q4_atlas_gross	2027Q4 / base	445.63 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(base_2027q4_atlas_proxy, base_2027q4_atlas_margin).
other GAAP gross margin base_2027q4_other_margin	2027Q4 / base	84.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
other gross profit proxy base_2027q4_other_gross	2027Q4 / base	138.15 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(base_2027q4_other_proxy, base_2027q4_other_margin).
GAAP gross profit base_2027q4_gross_profit	2027Q4 / base	583.78 USD_millions	derived: Sum of analytical business contributions. Formula: sum(base_2027q4_atlas_gross, base_2027q4_other_gross).
Total expensed stock compensation base_2027q4_sbc	2027Q4 / base	154.00 USD_millions	assumption: Desk assumption, not company guidance.
GAAP operating income base_2027q4_operating_income	2027Q4 / base	-9.10 USD_millions	derived: Annual GAAP result less actual H1 and forecast Q3. Formula: subtract(base_h2_op, base_2027q3_operating_income).
Noncash depreciation/amortization base_2027q4_da	2027Q4 / base	8.50 USD_millions	assumption: Desk assumption, not company guidance.
Interest income less cash tax base_2027q4_net_interest_cash_tax	2027Q4 / base	12.00 USD_millions	assumption: Desk $17M net interest less $5M cash taxes; no future investment-security gain assumed.
Cash earnings before working capital base_2027q4_before_wc	2027Q4 / base	165.40 USD_millions	derived: Includes expensed SBC once; no negative tax refund forced from GAAP losses. Formula: sum(base_2027q4_operating_income, base_2027q4_sbc, base_2027q4_da, base_2027q4_net_interest_cash_tax).
Net operating working-capital use base_2027q4_wc	2027Q4 / base	-10.00 USD_millions	assumption: Includes receivables, deferred revenue, commissions and other cash timing; positive use/negative source.
Operating cash flow base_2027q4_cfo	2027Q4 / base	175.40 USD_millions	derived: Atlas billed in arrears can grow without equivalent upfront deferred-revenue funding. Formula: subtract(base_2027q4_before_wc, base_2027q4_wc).
Cash PP&E and other asset purchases base_2027q4_capex	2027Q4 / base	3.00 USD_millions	assumption: Desk assumption, not company guidance.
Finance-lease principal paid base_2027q4_lease_principal	2027Q4 / base	2.00 USD_millions	assumption: Desk assumption, not company guidance.
CFO less PP&E base_2027q4_fcf	2027Q4 / base	172.40 USD_millions	derived: Generic historical FCF scope. Formula: subtract(base_2027q4_cfo, base_2027q4_capex).
Company-definition FCF base_2027q4_company_fcf	2027Q4 / base	170.40 USD_millions	derived: Company additionally subtracts finance-lease principal, a financing outflow. Formula: subtract(base_2027q4_fcf, base_2027q4_lease_principal).
Taxes on net-settled equity awards base_2027q4_withholding	2027Q4 / base	60.00 USD_millions	assumption: Desk assumption, not company guidance.
Cash after equity withholding base_2027q4_cash_after_withholding	2027Q4 / base	110.40 USD_millions	derived: Financing-classified withholding; no double deduction of GAAP SBC expense. Formula: subtract(base_2027q4_company_fcf, base_2027q4_withholding).
Share of annual Atlas revenue base_2028q1_atlas_weight	2028Q1 / base	23.0% ratio	assumption: Desk assumption, not company guidance.
Atlas revenue proxy base_2028q1_atlas_proxy	2028Q1 / base	683.99 USD_millions	derived: Consumption phasing, not fixed contracted quarterly revenue. Formula: multiply(base_fy28_atlas_target, base_2028q1_atlas_weight).
Share of annual remaining revenue base_2028q1_other_weight	2028Q1 / base	23.0% ratio	assumption: Desk assumption, not company guidance.
Remaining revenue proxy base_2028q1_other_proxy	2028Q1 / base	186.09 USD_millions	derived: Allows different renewal/license seasonality from Atlas. Formula: multiply(base_fy28_other_target, base_2028q1_other_weight).
Consolidated revenue base_2028q1_revenue	2028Q1 / base	870.08 USD_millions	derived: Two mutually exclusive revenue buckets cover the whole company. Formula: sum(base_2028q1_atlas_proxy, base_2028q1_other_proxy).
atlas GAAP gross margin base_2028q1_atlas_margin	2028Q1 / base	71.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
atlas gross profit proxy base_2028q1_atlas_gross	2028Q1 / base	485.63 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(base_2028q1_atlas_proxy, base_2028q1_atlas_margin).
other GAAP gross margin base_2028q1_other_margin	2028Q1 / base	84.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
other gross profit proxy base_2028q1_other_gross	2028Q1 / base	156.32 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(base_2028q1_other_proxy, base_2028q1_other_margin).
GAAP gross profit base_2028q1_gross_profit	2028Q1 / base	641.95 USD_millions	derived: Sum of analytical business contributions. Formula: sum(base_2028q1_atlas_gross, base_2028q1_other_gross).
Total expensed stock compensation base_2028q1_sbc	2028Q1 / base	158.00 USD_millions	assumption: Desk assumption, not company guidance.
Operating expense excluding SBC / revenue base_2028q1_cash_opex_ratio	2028Q1 / base	49.0% ratio	assumption: Includes non-SBC amortization and ordinary costs; not a disclosed company margin.
Operating expenses excluding SBC base_2028q1_cash_opex	2028Q1 / base	426.34 USD_millions	derived: Desk operating leverage assumption. Formula: multiply(base_2028q1_revenue, base_2028q1_cash_opex_ratio).
SBC already in cost of revenue base_2028q1_cogs_sbc	2028Q1 / base	14.00 USD_millions	assumption: Desk assumption, not company guidance.
SBC in operating expenses base_2028q1_opex_sbc	2028Q1 / base	144.00 USD_millions	derived: Total SBC less amount already reflected in gross profit; avoids double counting. Formula: subtract(base_2028q1_sbc, base_2028q1_cogs_sbc).
GAAP operating expenses base_2028q1_gaap_opex	2028Q1 / base	570.34 USD_millions	derived: Operating cost scope excludes SBC already in cost of revenue. Formula: sum(base_2028q1_cash_opex, base_2028q1_opex_sbc).
GAAP operating income base_2028q1_operating_income	2028Q1 / base	71.61 USD_millions	derived: Independent FY2028 business/expense forecast. Formula: subtract(base_2028q1_gross_profit, base_2028q1_gaap_opex).
Noncash depreciation/amortization base_2028q1_da	2028Q1 / base	9.00 USD_millions	assumption: Desk assumption, not company guidance.
Interest income less cash tax base_2028q1_net_interest_cash_tax	2028Q1 / base	12.00 USD_millions	assumption: Desk $17M net interest less $5M cash taxes; no future investment-security gain assumed.
Cash earnings before working capital base_2028q1_before_wc	2028Q1 / base	250.61 USD_millions	derived: Includes expensed SBC once; no negative tax refund forced from GAAP losses. Formula: sum(base_2028q1_operating_income, base_2028q1_sbc, base_2028q1_da, base_2028q1_net_interest_cash_tax).
Net operating working-capital use base_2028q1_wc	2028Q1 / base	-20.00 USD_millions	assumption: Includes receivables, deferred revenue, commissions and other cash timing; positive use/negative source.
Operating cash flow base_2028q1_cfo	2028Q1 / base	270.61 USD_millions	derived: Atlas billed in arrears can grow without equivalent upfront deferred-revenue funding. Formula: subtract(base_2028q1_before_wc, base_2028q1_wc).
Cash PP&E and other asset purchases base_2028q1_capex	2028Q1 / base	4.00 USD_millions	assumption: Desk assumption, not company guidance.
Finance-lease principal paid base_2028q1_lease_principal	2028Q1 / base	2.00 USD_millions	assumption: Desk assumption, not company guidance.
CFO less PP&E base_2028q1_fcf	2028Q1 / base	266.61 USD_millions	derived: Generic historical FCF scope. Formula: subtract(base_2028q1_cfo, base_2028q1_capex).
Company-definition FCF base_2028q1_company_fcf	2028Q1 / base	264.61 USD_millions	derived: Company additionally subtracts finance-lease principal, a financing outflow. Formula: subtract(base_2028q1_fcf, base_2028q1_lease_principal).
Taxes on net-settled equity awards base_2028q1_withholding	2028Q1 / base	70.00 USD_millions	assumption: Desk assumption, not company guidance.
Cash after equity withholding base_2028q1_cash_after_withholding	2028Q1 / base	194.61 USD_millions	derived: Financing-classified withholding; no double deduction of GAAP SBC expense. Formula: subtract(base_2028q1_company_fcf, base_2028q1_withholding).
Share of annual Atlas revenue base_2028q2_atlas_weight	2028Q2 / base	24.5% ratio	assumption: Desk assumption, not company guidance.
Atlas revenue proxy base_2028q2_atlas_proxy	2028Q2 / base	728.60 USD_millions	derived: Consumption phasing, not fixed contracted quarterly revenue. Formula: multiply(base_fy28_atlas_target, base_2028q2_atlas_weight).
Share of annual remaining revenue base_2028q2_other_weight	2028Q2 / base	27.0% ratio	assumption: Desk assumption, not company guidance.
Remaining revenue proxy base_2028q2_other_proxy	2028Q2 / base	218.45 USD_millions	derived: Allows different renewal/license seasonality from Atlas. Formula: multiply(base_fy28_other_target, base_2028q2_other_weight).
Consolidated revenue base_2028q2_revenue	2028Q2 / base	947.05 USD_millions	derived: Two mutually exclusive revenue buckets cover the whole company. Formula: sum(base_2028q2_atlas_proxy, base_2028q2_other_proxy).
atlas GAAP gross margin base_2028q2_atlas_margin	2028Q2 / base	71.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
atlas gross profit proxy base_2028q2_atlas_gross	2028Q2 / base	517.31 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(base_2028q2_atlas_proxy, base_2028q2_atlas_margin).
other GAAP gross margin base_2028q2_other_margin	2028Q2 / base	84.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
other gross profit proxy base_2028q2_other_gross	2028Q2 / base	183.50 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(base_2028q2_other_proxy, base_2028q2_other_margin).
GAAP gross profit base_2028q2_gross_profit	2028Q2 / base	700.81 USD_millions	derived: Sum of analytical business contributions. Formula: sum(base_2028q2_atlas_gross, base_2028q2_other_gross).
Total expensed stock compensation base_2028q2_sbc	2028Q2 / base	164.00 USD_millions	assumption: Desk assumption, not company guidance.
Operating expense excluding SBC / revenue base_2028q2_cash_opex_ratio	2028Q2 / base	49.0% ratio	assumption: Includes non-SBC amortization and ordinary costs; not a disclosed company margin.
Operating expenses excluding SBC base_2028q2_cash_opex	2028Q2 / base	464.06 USD_millions	derived: Desk operating leverage assumption. Formula: multiply(base_2028q2_revenue, base_2028q2_cash_opex_ratio).
SBC already in cost of revenue base_2028q2_cogs_sbc	2028Q2 / base	15.00 USD_millions	assumption: Desk assumption, not company guidance.
SBC in operating expenses base_2028q2_opex_sbc	2028Q2 / base	149.00 USD_millions	derived: Total SBC less amount already reflected in gross profit; avoids double counting. Formula: subtract(base_2028q2_sbc, base_2028q2_cogs_sbc).
GAAP operating expenses base_2028q2_gaap_opex	2028Q2 / base	613.06 USD_millions	derived: Operating cost scope excludes SBC already in cost of revenue. Formula: sum(base_2028q2_cash_opex, base_2028q2_opex_sbc).
GAAP operating income base_2028q2_operating_income	2028Q2 / base	87.75 USD_millions	derived: Independent FY2028 business/expense forecast. Formula: subtract(base_2028q2_gross_profit, base_2028q2_gaap_opex).
Noncash depreciation/amortization base_2028q2_da	2028Q2 / base	9.50 USD_millions	assumption: Desk assumption, not company guidance.
Interest income less cash tax base_2028q2_net_interest_cash_tax	2028Q2 / base	12.00 USD_millions	assumption: Desk $17M net interest less $5M cash taxes; no future investment-security gain assumed.
Cash earnings before working capital base_2028q2_before_wc	2028Q2 / base	273.25 USD_millions	derived: Includes expensed SBC once; no negative tax refund forced from GAAP losses. Formula: sum(base_2028q2_operating_income, base_2028q2_sbc, base_2028q2_da, base_2028q2_net_interest_cash_tax).
Net operating working-capital use base_2028q2_wc	2028Q2 / base	0.00 USD_millions	assumption: Includes receivables, deferred revenue, commissions and other cash timing; positive use/negative source.
Operating cash flow base_2028q2_cfo	2028Q2 / base	273.25 USD_millions	derived: Atlas billed in arrears can grow without equivalent upfront deferred-revenue funding. Formula: subtract(base_2028q2_before_wc, base_2028q2_wc).
Cash PP&E and other asset purchases base_2028q2_capex	2028Q2 / base	4.00 USD_millions	assumption: Desk assumption, not company guidance.
Finance-lease principal paid base_2028q2_lease_principal	2028Q2 / base	2.00 USD_millions	assumption: Desk assumption, not company guidance.
CFO less PP&E base_2028q2_fcf	2028Q2 / base	269.25 USD_millions	derived: Generic historical FCF scope. Formula: subtract(base_2028q2_cfo, base_2028q2_capex).
Company-definition FCF base_2028q2_company_fcf	2028Q2 / base	267.25 USD_millions	derived: Company additionally subtracts finance-lease principal, a financing outflow. Formula: subtract(base_2028q2_fcf, base_2028q2_lease_principal).
Taxes on net-settled equity awards base_2028q2_withholding	2028Q2 / base	60.00 USD_millions	assumption: Desk assumption, not company guidance.
Cash after equity withholding base_2028q2_cash_after_withholding	2028Q2 / base	207.25 USD_millions	derived: Financing-classified withholding; no double deduction of GAAP SBC expense. Formula: subtract(base_2028q2_company_fcf, base_2028q2_withholding).
Share of annual Atlas revenue base_2028q3_atlas_weight	2028Q3 / base	25.5% ratio	assumption: Desk assumption, not company guidance.
Atlas revenue proxy base_2028q3_atlas_proxy	2028Q3 / base	758.34 USD_millions	derived: Consumption phasing, not fixed contracted quarterly revenue. Formula: multiply(base_fy28_atlas_target, base_2028q3_atlas_weight).
Share of annual remaining revenue base_2028q3_other_weight	2028Q3 / base	24.0% ratio	assumption: Desk assumption, not company guidance.
Remaining revenue proxy base_2028q3_other_proxy	2028Q3 / base	194.18 USD_millions	derived: Allows different renewal/license seasonality from Atlas. Formula: multiply(base_fy28_other_target, base_2028q3_other_weight).
Consolidated revenue base_2028q3_revenue	2028Q3 / base	952.52 USD_millions	derived: Two mutually exclusive revenue buckets cover the whole company. Formula: sum(base_2028q3_atlas_proxy, base_2028q3_other_proxy).
atlas GAAP gross margin base_2028q3_atlas_margin	2028Q3 / base	71.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
atlas gross profit proxy base_2028q3_atlas_gross	2028Q3 / base	538.42 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(base_2028q3_atlas_proxy, base_2028q3_atlas_margin).
other GAAP gross margin base_2028q3_other_margin	2028Q3 / base	84.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
other gross profit proxy base_2028q3_other_gross	2028Q3 / base	163.11 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(base_2028q3_other_proxy, base_2028q3_other_margin).
GAAP gross profit base_2028q3_gross_profit	2028Q3 / base	701.53 USD_millions	derived: Sum of analytical business contributions. Formula: sum(base_2028q3_atlas_gross, base_2028q3_other_gross).
Total expensed stock compensation base_2028q3_sbc	2028Q3 / base	170.00 USD_millions	assumption: Desk assumption, not company guidance.
Operating expense excluding SBC / revenue base_2028q3_cash_opex_ratio	2028Q3 / base	49.0% ratio	assumption: Includes non-SBC amortization and ordinary costs; not a disclosed company margin.
Operating expenses excluding SBC base_2028q3_cash_opex	2028Q3 / base	466.74 USD_millions	derived: Desk operating leverage assumption. Formula: multiply(base_2028q3_revenue, base_2028q3_cash_opex_ratio).
SBC already in cost of revenue base_2028q3_cogs_sbc	2028Q3 / base	16.00 USD_millions	assumption: Desk assumption, not company guidance.
SBC in operating expenses base_2028q3_opex_sbc	2028Q3 / base	154.00 USD_millions	derived: Total SBC less amount already reflected in gross profit; avoids double counting. Formula: subtract(base_2028q3_sbc, base_2028q3_cogs_sbc).
GAAP operating expenses base_2028q3_gaap_opex	2028Q3 / base	620.74 USD_millions	derived: Operating cost scope excludes SBC already in cost of revenue. Formula: sum(base_2028q3_cash_opex, base_2028q3_opex_sbc).
GAAP operating income base_2028q3_operating_income	2028Q3 / base	80.80 USD_millions	derived: Independent FY2028 business/expense forecast. Formula: subtract(base_2028q3_gross_profit, base_2028q3_gaap_opex).
Noncash depreciation/amortization base_2028q3_da	2028Q3 / base	10.00 USD_millions	assumption: Desk assumption, not company guidance.
Interest income less cash tax base_2028q3_net_interest_cash_tax	2028Q3 / base	12.00 USD_millions	assumption: Desk $17M net interest less $5M cash taxes; no future investment-security gain assumed.
Cash earnings before working capital base_2028q3_before_wc	2028Q3 / base	272.80 USD_millions	derived: Includes expensed SBC once; no negative tax refund forced from GAAP losses. Formula: sum(base_2028q3_operating_income, base_2028q3_sbc, base_2028q3_da, base_2028q3_net_interest_cash_tax).
Net operating working-capital use base_2028q3_wc	2028Q3 / base	10.00 USD_millions	assumption: Includes receivables, deferred revenue, commissions and other cash timing; positive use/negative source.
Operating cash flow base_2028q3_cfo	2028Q3 / base	262.80 USD_millions	derived: Atlas billed in arrears can grow without equivalent upfront deferred-revenue funding. Formula: subtract(base_2028q3_before_wc, base_2028q3_wc).
Cash PP&E and other asset purchases base_2028q3_capex	2028Q3 / base	4.00 USD_millions	assumption: Desk assumption, not company guidance.
Finance-lease principal paid base_2028q3_lease_principal	2028Q3 / base	2.00 USD_millions	assumption: Desk assumption, not company guidance.
CFO less PP&E base_2028q3_fcf	2028Q3 / base	258.80 USD_millions	derived: Generic historical FCF scope. Formula: subtract(base_2028q3_cfo, base_2028q3_capex).
Company-definition FCF base_2028q3_company_fcf	2028Q3 / base	256.80 USD_millions	derived: Company additionally subtracts finance-lease principal, a financing outflow. Formula: subtract(base_2028q3_fcf, base_2028q3_lease_principal).
Taxes on net-settled equity awards base_2028q3_withholding	2028Q3 / base	65.00 USD_millions	assumption: Desk assumption, not company guidance.
Cash after equity withholding base_2028q3_cash_after_withholding	2028Q3 / base	191.80 USD_millions	derived: Financing-classified withholding; no double deduction of GAAP SBC expense. Formula: subtract(base_2028q3_company_fcf, base_2028q3_withholding).
Share of annual Atlas revenue base_2028q4_atlas_weight	2028Q4 / base	27.0% ratio	assumption: Desk assumption, not company guidance.
Atlas revenue proxy base_2028q4_atlas_proxy	2028Q4 / base	802.95 USD_millions	derived: Consumption phasing, not fixed contracted quarterly revenue. Formula: multiply(base_fy28_atlas_target, base_2028q4_atlas_weight).
Share of annual remaining revenue base_2028q4_other_weight	2028Q4 / base	26.0% ratio	assumption: Desk assumption, not company guidance.
Remaining revenue proxy base_2028q4_other_proxy	2028Q4 / base	210.36 USD_millions	derived: Allows different renewal/license seasonality from Atlas. Formula: multiply(base_fy28_other_target, base_2028q4_other_weight).
Consolidated revenue base_2028q4_revenue	2028Q4 / base	1,013.31 USD_millions	derived: Two mutually exclusive revenue buckets cover the whole company. Formula: sum(base_2028q4_atlas_proxy, base_2028q4_other_proxy).
atlas GAAP gross margin base_2028q4_atlas_margin	2028Q4 / base	71.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
atlas gross profit proxy base_2028q4_atlas_gross	2028Q4 / base	570.09 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(base_2028q4_atlas_proxy, base_2028q4_atlas_margin).
other GAAP gross margin base_2028q4_other_margin	2028Q4 / base	84.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
other gross profit proxy base_2028q4_other_gross	2028Q4 / base	176.70 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(base_2028q4_other_proxy, base_2028q4_other_margin).
GAAP gross profit base_2028q4_gross_profit	2028Q4 / base	746.80 USD_millions	derived: Sum of analytical business contributions. Formula: sum(base_2028q4_atlas_gross, base_2028q4_other_gross).
Total expensed stock compensation base_2028q4_sbc	2028Q4 / base	176.00 USD_millions	assumption: Desk assumption, not company guidance.
Operating expense excluding SBC / revenue base_2028q4_cash_opex_ratio	2028Q4 / base	49.0% ratio	assumption: Includes non-SBC amortization and ordinary costs; not a disclosed company margin.
Operating expenses excluding SBC base_2028q4_cash_opex	2028Q4 / base	496.52 USD_millions	derived: Desk operating leverage assumption. Formula: multiply(base_2028q4_revenue, base_2028q4_cash_opex_ratio).
SBC already in cost of revenue base_2028q4_cogs_sbc	2028Q4 / base	17.00 USD_millions	assumption: Desk assumption, not company guidance.
SBC in operating expenses base_2028q4_opex_sbc	2028Q4 / base	159.00 USD_millions	derived: Total SBC less amount already reflected in gross profit; avoids double counting. Formula: subtract(base_2028q4_sbc, base_2028q4_cogs_sbc).
GAAP operating expenses base_2028q4_gaap_opex	2028Q4 / base	655.52 USD_millions	derived: Operating cost scope excludes SBC already in cost of revenue. Formula: sum(base_2028q4_cash_opex, base_2028q4_opex_sbc).
GAAP operating income base_2028q4_operating_income	2028Q4 / base	91.28 USD_millions	derived: Independent FY2028 business/expense forecast. Formula: subtract(base_2028q4_gross_profit, base_2028q4_gaap_opex).
Noncash depreciation/amortization base_2028q4_da	2028Q4 / base	10.50 USD_millions	assumption: Desk assumption, not company guidance.
Interest income less cash tax base_2028q4_net_interest_cash_tax	2028Q4 / base	12.00 USD_millions	assumption: Desk $17M net interest less $5M cash taxes; no future investment-security gain assumed.
Cash earnings before working capital base_2028q4_before_wc	2028Q4 / base	289.78 USD_millions	derived: Includes expensed SBC once; no negative tax refund forced from GAAP losses. Formula: sum(base_2028q4_operating_income, base_2028q4_sbc, base_2028q4_da, base_2028q4_net_interest_cash_tax).
Net operating working-capital use base_2028q4_wc	2028Q4 / base	-20.00 USD_millions	assumption: Includes receivables, deferred revenue, commissions and other cash timing; positive use/negative source.
Operating cash flow base_2028q4_cfo	2028Q4 / base	309.78 USD_millions	derived: Atlas billed in arrears can grow without equivalent upfront deferred-revenue funding. Formula: subtract(base_2028q4_before_wc, base_2028q4_wc).
Cash PP&E and other asset purchases base_2028q4_capex	2028Q4 / base	4.00 USD_millions	assumption: Desk assumption, not company guidance.
Finance-lease principal paid base_2028q4_lease_principal	2028Q4 / base	2.00 USD_millions	assumption: Desk assumption, not company guidance.
CFO less PP&E base_2028q4_fcf	2028Q4 / base	305.78 USD_millions	derived: Generic historical FCF scope. Formula: subtract(base_2028q4_cfo, base_2028q4_capex).
Company-definition FCF base_2028q4_company_fcf	2028Q4 / base	303.78 USD_millions	derived: Company additionally subtracts finance-lease principal, a financing outflow. Formula: subtract(base_2028q4_fcf, base_2028q4_lease_principal).
Taxes on net-settled equity awards base_2028q4_withholding	2028Q4 / base	70.00 USD_millions	assumption: Desk assumption, not company guidance.
Cash after equity withholding base_2028q4_cash_after_withholding	2028Q4 / base	233.78 USD_millions	derived: Financing-classified withholding; no double deduction of GAAP SBC expense. Formula: subtract(base_2028q4_company_fcf, base_2028q4_withholding).
Consolidated revenue ($M) base_fy2027_revenue	FY2027 / base	3,010.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_revenue, base_2027q3_revenue, base_2027q4_revenue).
Atlas revenue proxy ($M) base_fy2027_atlas_proxy	FY2027 / base	2,287.60 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_atlas_proxy, base_2027q3_atlas_proxy, base_2027q4_atlas_proxy).
Remaining revenue proxy ($M) base_fy2027_other_proxy	FY2027 / base	722.40 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_other_proxy, base_2027q3_other_proxy, base_2027q4_other_proxy).
GAAP gross profit ($M) base_fy2027_gross_profit	FY2027 / base	2,211.46 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_gross_profit, base_2027q3_gross_profit, base_2027q4_gross_profit).
GAAP operating income ($M) base_fy2027_operating_income	FY2027 / base	-18.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_operating_income, base_2027q3_operating_income, base_2027q4_operating_income).
Operating cash flow ($M) base_fy2027_cfo	FY2027 / base	661.41 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cfo, base_2027q3_cfo, base_2027q4_cfo).
PP&E and other asset purchases ($M) base_fy2027_capex	FY2027 / base	10.79 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_capex, base_2027q3_capex, base_2027q4_capex).
Finance-lease principal ($M) base_fy2027_lease_principal	FY2027 / base	7.55 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_lease_principal, base_2027q3_lease_principal, base_2027q4_lease_principal).
CFO less PP&E ($M) base_fy2027_fcf	FY2027 / base	650.62 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_fcf, base_2027q3_fcf, base_2027q4_fcf).
CFO less PP&E and lease principal ($M) base_fy2027_company_fcf	FY2027 / base	643.07 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_company_fcf, base_2027q3_company_fcf, base_2027q4_company_fcf).
Company FCF less share withholding ($M) base_fy2027_cash_after_withholding	FY2027 / base	410.40 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cash_after_withholding, base_2027q3_cash_after_withholding, base_2027q4_cash_after_withholding).
Consolidated revenue ($M) base_fy2028_revenue	FY2028 / base	3,782.97 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2028q1_revenue, base_2028q2_revenue, base_2028q3_revenue, base_2028q4_revenue).
Atlas revenue proxy ($M) base_fy2028_atlas_proxy	FY2028 / base	2,973.88 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2028q1_atlas_proxy, base_2028q2_atlas_proxy, base_2028q3_atlas_proxy, base_2028q4_atlas_proxy).
Remaining revenue proxy ($M) base_fy2028_other_proxy	FY2028 / base	809.09 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2028q1_other_proxy, base_2028q2_other_proxy, base_2028q3_other_proxy, base_2028q4_other_proxy).
GAAP gross profit ($M) base_fy2028_gross_profit	FY2028 / base	2,791.09 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2028q1_gross_profit, base_2028q2_gross_profit, base_2028q3_gross_profit, base_2028q4_gross_profit).
GAAP operating income ($M) base_fy2028_operating_income	FY2028 / base	331.43 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2028q1_operating_income, base_2028q2_operating_income, base_2028q3_operating_income, base_2028q4_operating_income).
Operating cash flow ($M) base_fy2028_cfo	FY2028 / base	1,116.43 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2028q1_cfo, base_2028q2_cfo, base_2028q3_cfo, base_2028q4_cfo).
PP&E and other asset purchases ($M) base_fy2028_capex	FY2028 / base	16.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2028q1_capex, base_2028q2_capex, base_2028q3_capex, base_2028q4_capex).
Finance-lease principal ($M) base_fy2028_lease_principal	FY2028 / base	8.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2028q1_lease_principal, base_2028q2_lease_principal, base_2028q3_lease_principal, base_2028q4_lease_principal).
CFO less PP&E ($M) base_fy2028_fcf	FY2028 / base	1,100.43 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2028q1_fcf, base_2028q2_fcf, base_2028q3_fcf, base_2028q4_fcf).
CFO less PP&E and lease principal ($M) base_fy2028_company_fcf	FY2028 / base	1,092.43 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2028q1_company_fcf, base_2028q2_company_fcf, base_2028q3_company_fcf, base_2028q4_company_fcf).
Company FCF less share withholding ($M) base_fy2028_cash_after_withholding	FY2028 / base	827.43 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2028q1_cash_after_withholding, base_2028q2_cash_after_withholding, base_2028q3_cash_after_withholding, base_2028q4_cash_after_withholding).
FY2027 revenue versus guide midpoint upside_delivery	FY2027 / upside	102.5% ratio	assumption: Desk demand/timing sensitivity.
FY2027 revenue upside_fy27_revenue_target	FY2027 / upside	3,085.25 USD_millions	derived: Guidance midpoint times scenario delivery. Formula: multiply(fy27_revenue_guide, upside_delivery).
FY2027 Atlas revenue share upside_atlas_mix	FY2027 / upside	77.0% ratio	assumption: Desk mix, not reported exact Atlas revenue or management mix guidance.
FY2027 Atlas proxy upside_fy27_atlas_target	FY2027 / upside	2,375.64 USD_millions	derived: Annual total times assumed mix. Formula: multiply(upside_fy27_revenue_target, upside_atlas_mix).
FY2027 remainder proxy upside_fy27_other_target	FY2027 / upside	709.61 USD_millions	derived: Includes all non-Atlas revenue, not only EA. Formula: subtract(upside_fy27_revenue_target, upside_fy27_atlas_target).
FY2027 operating profit versus guide midpoint upside_op_delta	FY2027 / upside	35.00 USD_millions	assumption: Desk execution sensitivity in dollars; downside can fall outside guidance.
FY2027 GAAP operating result upside_fy27_op_target	FY2027 / upside	17.00 USD_millions	derived: Base equals reported GAAP guidance midpoint. Formula: sum(fy27_gaap_op_guide, upside_op_delta).
H2 revenue upside_h2_revenue	H2 FY2027 / upside	1,625.86 USD_millions	derived: Annual scenario less known consolidated actual or explicitly approximate mix allocation. Formula: subtract(upside_fy27_revenue_target, h1_revenue).
H2 atlas upside_h2_atlas	H2 FY2027 / upside	1,295.69 USD_millions	derived: Annual scenario less known consolidated actual or explicitly approximate mix allocation. Formula: subtract(upside_fy27_atlas_target, h1_atlas_proxy).
H2 other upside_h2_other	H2 FY2027 / upside	330.17 USD_millions	derived: Annual scenario less known consolidated actual or explicitly approximate mix allocation. Formula: subtract(upside_fy27_other_target, h1_other_proxy).
H2 op upside_h2_op	H2 FY2027 / upside	13.40 USD_millions	derived: Annual scenario less known consolidated actual or explicitly approximate mix allocation. Formula: subtract(upside_fy27_op_target, h1_operating_income).
FY2028 atlas growth multiplier upside_atlas_growth	FY2028 / upside	140.0% ratio	assumption: Independent desk growth by business driver.
FY2028 atlas revenue proxy upside_fy28_atlas_target	FY2028 / upside	3,325.90 USD_millions	derived: Growth applied independently; no additional AI product revenue added. Formula: multiply(upside_fy27_atlas_target, upside_atlas_growth).
FY2028 other growth multiplier upside_other_growth	FY2028 / upside	118.0% ratio	assumption: Independent desk growth by business driver.
FY2028 other revenue proxy upside_fy28_other_target	FY2028 / upside	837.34 USD_millions	derived: Growth applied independently; no additional AI product revenue added. Formula: multiply(upside_fy27_other_target, upside_other_growth).
Atlas revenue proxy upside_2027q3_atlas_proxy	2027Q3 / upside	600.00 USD_millions	assumption: Desk assumption, not company guidance.
Quarter total revenue upside_2027q3_total_reference	2027Q3 / upside	777.46 USD_millions	derived: Q3 midpoint times delivery factor. Formula: multiply(q3_revenue_guide, upside_delivery).
Remaining revenue proxy upside_2027q3_other_proxy	2027Q3 / upside	177.46 USD_millions	derived: Remainder required by total revenue scenario. Formula: subtract(upside_2027q3_total_reference, upside_2027q3_atlas_proxy).
Consolidated revenue upside_2027q3_revenue	2027Q3 / upside	777.46 USD_millions	derived: Two mutually exclusive revenue buckets cover the whole company. Formula: sum(upside_2027q3_atlas_proxy, upside_2027q3_other_proxy).
atlas GAAP gross margin upside_2027q3_atlas_margin	2027Q3 / upside	73.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
atlas gross profit proxy upside_2027q3_atlas_gross	2027Q3 / upside	438.00 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(upside_2027q3_atlas_proxy, upside_2027q3_atlas_margin).
other GAAP gross margin upside_2027q3_other_margin	2027Q3 / upside	86.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
other gross profit proxy upside_2027q3_other_gross	2027Q3 / upside	152.62 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(upside_2027q3_other_proxy, upside_2027q3_other_margin).
GAAP gross profit upside_2027q3_gross_profit	2027Q3 / upside	590.62 USD_millions	derived: Sum of analytical business contributions. Formula: sum(upside_2027q3_atlas_gross, upside_2027q3_other_gross).
Total expensed stock compensation upside_2027q3_sbc	2027Q3 / upside	155.00 USD_millions	assumption: Desk assumption, not company guidance.
Q3 execution sensitivity share upside_2027q3_op_delta_share	2027Q3 / upside	50.0% ratio	assumption: Desk assumption, not company guidance.
Q3 share of annual execution sensitivity upside_2027q3_op_delta	2027Q3 / upside	17.50 USD_millions	derived: Remaining half is reflected in Q4. Formula: multiply(upside_op_delta, upside_2027q3_op_delta_share).
GAAP operating income upside_2027q3_operating_income	2027Q3 / upside	5.00 USD_millions	derived: Base equals Q3 GAAP loss guidance midpoint, not Q2 run rate. Formula: sum(q3_gaap_op_guide, upside_2027q3_op_delta).
Noncash depreciation/amortization upside_2027q3_da	2027Q3 / upside	8.00 USD_millions	assumption: Desk assumption, not company guidance.
Interest income less cash tax upside_2027q3_net_interest_cash_tax	2027Q3 / upside	12.00 USD_millions	assumption: Desk $17M net interest less $5M cash taxes; no future investment-security gain assumed.
Cash earnings before working capital upside_2027q3_before_wc	2027Q3 / upside	180.00 USD_millions	derived: Includes expensed SBC once; no negative tax refund forced from GAAP losses. Formula: sum(upside_2027q3_operating_income, upside_2027q3_sbc, upside_2027q3_da, upside_2027q3_net_interest_cash_tax).
Net operating working-capital use upside_2027q3_wc	2027Q3 / upside	0.00 USD_millions	assumption: Includes receivables, deferred revenue, commissions and other cash timing; positive use/negative source.
Operating cash flow upside_2027q3_cfo	2027Q3 / upside	180.00 USD_millions	derived: Atlas billed in arrears can grow without equivalent upfront deferred-revenue funding. Formula: subtract(upside_2027q3_before_wc, upside_2027q3_wc).
Cash PP&E and other asset purchases upside_2027q3_capex	2027Q3 / upside	3.00 USD_millions	assumption: Desk assumption, not company guidance.
Finance-lease principal paid upside_2027q3_lease_principal	2027Q3 / upside	2.00 USD_millions	assumption: Desk assumption, not company guidance.
CFO less PP&E upside_2027q3_fcf	2027Q3 / upside	177.00 USD_millions	derived: Generic historical FCF scope. Formula: subtract(upside_2027q3_cfo, upside_2027q3_capex).
Company-definition FCF upside_2027q3_company_fcf	2027Q3 / upside	175.00 USD_millions	derived: Company additionally subtracts finance-lease principal, a financing outflow. Formula: subtract(upside_2027q3_fcf, upside_2027q3_lease_principal).
Taxes on net-settled equity awards upside_2027q3_withholding	2027Q3 / upside	60.00 USD_millions	assumption: Desk assumption, not company guidance.
Cash after equity withholding upside_2027q3_cash_after_withholding	2027Q3 / upside	115.00 USD_millions	derived: Financing-classified withholding; no double deduction of GAAP SBC expense. Formula: subtract(upside_2027q3_company_fcf, upside_2027q3_withholding).
Atlas revenue proxy upside_2027q4_atlas_proxy	2027Q4 / upside	695.69 USD_millions	derived: Annual Atlas scenario less approximate H1 and Q3. Formula: subtract(upside_h2_atlas, upside_2027q3_atlas_proxy).
Remaining revenue proxy upside_2027q4_other_proxy	2027Q4 / upside	152.70 USD_millions	derived: Annual remaining-business scenario less H1 proxy and Q3. Formula: subtract(upside_h2_other, upside_2027q3_other_proxy).
Consolidated revenue upside_2027q4_revenue	2027Q4 / upside	848.40 USD_millions	derived: Two mutually exclusive revenue buckets cover the whole company. Formula: sum(upside_2027q4_atlas_proxy, upside_2027q4_other_proxy).
atlas GAAP gross margin upside_2027q4_atlas_margin	2027Q4 / upside	73.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
atlas gross profit proxy upside_2027q4_atlas_gross	2027Q4 / upside	507.86 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(upside_2027q4_atlas_proxy, upside_2027q4_atlas_margin).
other GAAP gross margin upside_2027q4_other_margin	2027Q4 / upside	86.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
other gross profit proxy upside_2027q4_other_gross	2027Q4 / upside	131.33 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(upside_2027q4_other_proxy, upside_2027q4_other_margin).
GAAP gross profit upside_2027q4_gross_profit	2027Q4 / upside	639.18 USD_millions	derived: Sum of analytical business contributions. Formula: sum(upside_2027q4_atlas_gross, upside_2027q4_other_gross).
Total expensed stock compensation upside_2027q4_sbc	2027Q4 / upside	162.00 USD_millions	assumption: Desk assumption, not company guidance.
GAAP operating income upside_2027q4_operating_income	2027Q4 / upside	8.40 USD_millions	derived: Annual GAAP result less actual H1 and forecast Q3. Formula: subtract(upside_h2_op, upside_2027q3_operating_income).
Noncash depreciation/amortization upside_2027q4_da	2027Q4 / upside	8.50 USD_millions	assumption: Desk assumption, not company guidance.
Interest income less cash tax upside_2027q4_net_interest_cash_tax	2027Q4 / upside	12.00 USD_millions	assumption: Desk $17M net interest less $5M cash taxes; no future investment-security gain assumed.
Cash earnings before working capital upside_2027q4_before_wc	2027Q4 / upside	190.90 USD_millions	derived: Includes expensed SBC once; no negative tax refund forced from GAAP losses. Formula: sum(upside_2027q4_operating_income, upside_2027q4_sbc, upside_2027q4_da, upside_2027q4_net_interest_cash_tax).
Net operating working-capital use upside_2027q4_wc	2027Q4 / upside	-25.00 USD_millions	assumption: Includes receivables, deferred revenue, commissions and other cash timing; positive use/negative source.
Operating cash flow upside_2027q4_cfo	2027Q4 / upside	215.90 USD_millions	derived: Atlas billed in arrears can grow without equivalent upfront deferred-revenue funding. Formula: subtract(upside_2027q4_before_wc, upside_2027q4_wc).
Cash PP&E and other asset purchases upside_2027q4_capex	2027Q4 / upside	3.00 USD_millions	assumption: Desk assumption, not company guidance.
Finance-lease principal paid upside_2027q4_lease_principal	2027Q4 / upside	2.00 USD_millions	assumption: Desk assumption, not company guidance.
CFO less PP&E upside_2027q4_fcf	2027Q4 / upside	212.90 USD_millions	derived: Generic historical FCF scope. Formula: subtract(upside_2027q4_cfo, upside_2027q4_capex).
Company-definition FCF upside_2027q4_company_fcf	2027Q4 / upside	210.90 USD_millions	derived: Company additionally subtracts finance-lease principal, a financing outflow. Formula: subtract(upside_2027q4_fcf, upside_2027q4_lease_principal).
Taxes on net-settled equity awards upside_2027q4_withholding	2027Q4 / upside	65.00 USD_millions	assumption: Desk assumption, not company guidance.
Cash after equity withholding upside_2027q4_cash_after_withholding	2027Q4 / upside	145.90 USD_millions	derived: Financing-classified withholding; no double deduction of GAAP SBC expense. Formula: subtract(upside_2027q4_company_fcf, upside_2027q4_withholding).
Share of annual Atlas revenue upside_2028q1_atlas_weight	2028Q1 / upside	23.0% ratio	assumption: Desk assumption, not company guidance.
Atlas revenue proxy upside_2028q1_atlas_proxy	2028Q1 / upside	764.96 USD_millions	derived: Consumption phasing, not fixed contracted quarterly revenue. Formula: multiply(upside_fy28_atlas_target, upside_2028q1_atlas_weight).
Share of annual remaining revenue upside_2028q1_other_weight	2028Q1 / upside	23.0% ratio	assumption: Desk assumption, not company guidance.
Remaining revenue proxy upside_2028q1_other_proxy	2028Q1 / upside	192.59 USD_millions	derived: Allows different renewal/license seasonality from Atlas. Formula: multiply(upside_fy28_other_target, upside_2028q1_other_weight).
Consolidated revenue upside_2028q1_revenue	2028Q1 / upside	957.54 USD_millions	derived: Two mutually exclusive revenue buckets cover the whole company. Formula: sum(upside_2028q1_atlas_proxy, upside_2028q1_other_proxy).
atlas GAAP gross margin upside_2028q1_atlas_margin	2028Q1 / upside	73.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
atlas gross profit proxy upside_2028q1_atlas_gross	2028Q1 / upside	558.42 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(upside_2028q1_atlas_proxy, upside_2028q1_atlas_margin).
other GAAP gross margin upside_2028q1_other_margin	2028Q1 / upside	86.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
other gross profit proxy upside_2028q1_other_gross	2028Q1 / upside	165.63 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(upside_2028q1_other_proxy, upside_2028q1_other_margin).
GAAP gross profit upside_2028q1_gross_profit	2028Q1 / upside	724.04 USD_millions	derived: Sum of analytical business contributions. Formula: sum(upside_2028q1_atlas_gross, upside_2028q1_other_gross).
Total expensed stock compensation upside_2028q1_sbc	2028Q1 / upside	170.00 USD_millions	assumption: Desk assumption, not company guidance.
Operating expense excluding SBC / revenue upside_2028q1_cash_opex_ratio	2028Q1 / upside	47.0% ratio	assumption: Includes non-SBC amortization and ordinary costs; not a disclosed company margin.
Operating expenses excluding SBC upside_2028q1_cash_opex	2028Q1 / upside	450.05 USD_millions	derived: Desk operating leverage assumption. Formula: multiply(upside_2028q1_revenue, upside_2028q1_cash_opex_ratio).
SBC already in cost of revenue upside_2028q1_cogs_sbc	2028Q1 / upside	14.00 USD_millions	assumption: Desk assumption, not company guidance.
SBC in operating expenses upside_2028q1_opex_sbc	2028Q1 / upside	156.00 USD_millions	derived: Total SBC less amount already reflected in gross profit; avoids double counting. Formula: subtract(upside_2028q1_sbc, upside_2028q1_cogs_sbc).
GAAP operating expenses upside_2028q1_gaap_opex	2028Q1 / upside	606.05 USD_millions	derived: Operating cost scope excludes SBC already in cost of revenue. Formula: sum(upside_2028q1_cash_opex, upside_2028q1_opex_sbc).
GAAP operating income upside_2028q1_operating_income	2028Q1 / upside	118.00 USD_millions	derived: Independent FY2028 business/expense forecast. Formula: subtract(upside_2028q1_gross_profit, upside_2028q1_gaap_opex).
Noncash depreciation/amortization upside_2028q1_da	2028Q1 / upside	9.00 USD_millions	assumption: Desk assumption, not company guidance.
Interest income less cash tax upside_2028q1_net_interest_cash_tax	2028Q1 / upside	12.00 USD_millions	assumption: Desk $17M net interest less $5M cash taxes; no future investment-security gain assumed.
Cash earnings before working capital upside_2028q1_before_wc	2028Q1 / upside	309.00 USD_millions	derived: Includes expensed SBC once; no negative tax refund forced from GAAP losses. Formula: sum(upside_2028q1_operating_income, upside_2028q1_sbc, upside_2028q1_da, upside_2028q1_net_interest_cash_tax).
Net operating working-capital use upside_2028q1_wc	2028Q1 / upside	-35.00 USD_millions	assumption: Includes receivables, deferred revenue, commissions and other cash timing; positive use/negative source.
Operating cash flow upside_2028q1_cfo	2028Q1 / upside	344.00 USD_millions	derived: Atlas billed in arrears can grow without equivalent upfront deferred-revenue funding. Formula: subtract(upside_2028q1_before_wc, upside_2028q1_wc).
Cash PP&E and other asset purchases upside_2028q1_capex	2028Q1 / upside	4.00 USD_millions	assumption: Desk assumption, not company guidance.
Finance-lease principal paid upside_2028q1_lease_principal	2028Q1 / upside	2.00 USD_millions	assumption: Desk assumption, not company guidance.
CFO less PP&E upside_2028q1_fcf	2028Q1 / upside	340.00 USD_millions	derived: Generic historical FCF scope. Formula: subtract(upside_2028q1_cfo, upside_2028q1_capex).
Company-definition FCF upside_2028q1_company_fcf	2028Q1 / upside	338.00 USD_millions	derived: Company additionally subtracts finance-lease principal, a financing outflow. Formula: subtract(upside_2028q1_fcf, upside_2028q1_lease_principal).
Taxes on net-settled equity awards upside_2028q1_withholding	2028Q1 / upside	75.00 USD_millions	assumption: Desk assumption, not company guidance.
Cash after equity withholding upside_2028q1_cash_after_withholding	2028Q1 / upside	263.00 USD_millions	derived: Financing-classified withholding; no double deduction of GAAP SBC expense. Formula: subtract(upside_2028q1_company_fcf, upside_2028q1_withholding).
Share of annual Atlas revenue upside_2028q2_atlas_weight	2028Q2 / upside	24.5% ratio	assumption: Desk assumption, not company guidance.
Atlas revenue proxy upside_2028q2_atlas_proxy	2028Q2 / upside	814.85 USD_millions	derived: Consumption phasing, not fixed contracted quarterly revenue. Formula: multiply(upside_fy28_atlas_target, upside_2028q2_atlas_weight).
Share of annual remaining revenue upside_2028q2_other_weight	2028Q2 / upside	27.0% ratio	assumption: Desk assumption, not company guidance.
Remaining revenue proxy upside_2028q2_other_proxy	2028Q2 / upside	226.08 USD_millions	derived: Allows different renewal/license seasonality from Atlas. Formula: multiply(upside_fy28_other_target, upside_2028q2_other_weight).
Consolidated revenue upside_2028q2_revenue	2028Q2 / upside	1,040.93 USD_millions	derived: Two mutually exclusive revenue buckets cover the whole company. Formula: sum(upside_2028q2_atlas_proxy, upside_2028q2_other_proxy).
atlas GAAP gross margin upside_2028q2_atlas_margin	2028Q2 / upside	73.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
atlas gross profit proxy upside_2028q2_atlas_gross	2028Q2 / upside	594.84 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(upside_2028q2_atlas_proxy, upside_2028q2_atlas_margin).
other GAAP gross margin upside_2028q2_other_margin	2028Q2 / upside	86.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
other gross profit proxy upside_2028q2_other_gross	2028Q2 / upside	194.43 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(upside_2028q2_other_proxy, upside_2028q2_other_margin).
GAAP gross profit upside_2028q2_gross_profit	2028Q2 / upside	789.27 USD_millions	derived: Sum of analytical business contributions. Formula: sum(upside_2028q2_atlas_gross, upside_2028q2_other_gross).
Total expensed stock compensation upside_2028q2_sbc	2028Q2 / upside	180.00 USD_millions	assumption: Desk assumption, not company guidance.
Operating expense excluding SBC / revenue upside_2028q2_cash_opex_ratio	2028Q2 / upside	47.0% ratio	assumption: Includes non-SBC amortization and ordinary costs; not a disclosed company margin.
Operating expenses excluding SBC upside_2028q2_cash_opex	2028Q2 / upside	489.24 USD_millions	derived: Desk operating leverage assumption. Formula: multiply(upside_2028q2_revenue, upside_2028q2_cash_opex_ratio).
SBC already in cost of revenue upside_2028q2_cogs_sbc	2028Q2 / upside	15.00 USD_millions	assumption: Desk assumption, not company guidance.
SBC in operating expenses upside_2028q2_opex_sbc	2028Q2 / upside	165.00 USD_millions	derived: Total SBC less amount already reflected in gross profit; avoids double counting. Formula: subtract(upside_2028q2_sbc, upside_2028q2_cogs_sbc).
GAAP operating expenses upside_2028q2_gaap_opex	2028Q2 / upside	654.24 USD_millions	derived: Operating cost scope excludes SBC already in cost of revenue. Formula: sum(upside_2028q2_cash_opex, upside_2028q2_opex_sbc).
GAAP operating income upside_2028q2_operating_income	2028Q2 / upside	135.03 USD_millions	derived: Independent FY2028 business/expense forecast. Formula: subtract(upside_2028q2_gross_profit, upside_2028q2_gaap_opex).
Noncash depreciation/amortization upside_2028q2_da	2028Q2 / upside	9.50 USD_millions	assumption: Desk assumption, not company guidance.
Interest income less cash tax upside_2028q2_net_interest_cash_tax	2028Q2 / upside	12.00 USD_millions	assumption: Desk $17M net interest less $5M cash taxes; no future investment-security gain assumed.
Cash earnings before working capital upside_2028q2_before_wc	2028Q2 / upside	336.53 USD_millions	derived: Includes expensed SBC once; no negative tax refund forced from GAAP losses. Formula: sum(upside_2028q2_operating_income, upside_2028q2_sbc, upside_2028q2_da, upside_2028q2_net_interest_cash_tax).
Net operating working-capital use upside_2028q2_wc	2028Q2 / upside	-10.00 USD_millions	assumption: Includes receivables, deferred revenue, commissions and other cash timing; positive use/negative source.
Operating cash flow upside_2028q2_cfo	2028Q2 / upside	346.53 USD_millions	derived: Atlas billed in arrears can grow without equivalent upfront deferred-revenue funding. Formula: subtract(upside_2028q2_before_wc, upside_2028q2_wc).
Cash PP&E and other asset purchases upside_2028q2_capex	2028Q2 / upside	4.00 USD_millions	assumption: Desk assumption, not company guidance.
Finance-lease principal paid upside_2028q2_lease_principal	2028Q2 / upside	2.00 USD_millions	assumption: Desk assumption, not company guidance.
CFO less PP&E upside_2028q2_fcf	2028Q2 / upside	342.53 USD_millions	derived: Generic historical FCF scope. Formula: subtract(upside_2028q2_cfo, upside_2028q2_capex).
Company-definition FCF upside_2028q2_company_fcf	2028Q2 / upside	340.53 USD_millions	derived: Company additionally subtracts finance-lease principal, a financing outflow. Formula: subtract(upside_2028q2_fcf, upside_2028q2_lease_principal).
Taxes on net-settled equity awards upside_2028q2_withholding	2028Q2 / upside	68.00 USD_millions	assumption: Desk assumption, not company guidance.
Cash after equity withholding upside_2028q2_cash_after_withholding	2028Q2 / upside	272.53 USD_millions	derived: Financing-classified withholding; no double deduction of GAAP SBC expense. Formula: subtract(upside_2028q2_company_fcf, upside_2028q2_withholding).
Share of annual Atlas revenue upside_2028q3_atlas_weight	2028Q3 / upside	25.5% ratio	assumption: Desk assumption, not company guidance.
Atlas revenue proxy upside_2028q3_atlas_proxy	2028Q3 / upside	848.10 USD_millions	derived: Consumption phasing, not fixed contracted quarterly revenue. Formula: multiply(upside_fy28_atlas_target, upside_2028q3_atlas_weight).
Share of annual remaining revenue upside_2028q3_other_weight	2028Q3 / upside	24.0% ratio	assumption: Desk assumption, not company guidance.
Remaining revenue proxy upside_2028q3_other_proxy	2028Q3 / upside	200.96 USD_millions	derived: Allows different renewal/license seasonality from Atlas. Formula: multiply(upside_fy28_other_target, upside_2028q3_other_weight).
Consolidated revenue upside_2028q3_revenue	2028Q3 / upside	1,049.07 USD_millions	derived: Two mutually exclusive revenue buckets cover the whole company. Formula: sum(upside_2028q3_atlas_proxy, upside_2028q3_other_proxy).
atlas GAAP gross margin upside_2028q3_atlas_margin	2028Q3 / upside	73.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
atlas gross profit proxy upside_2028q3_atlas_gross	2028Q3 / upside	619.12 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(upside_2028q3_atlas_proxy, upside_2028q3_atlas_margin).
other GAAP gross margin upside_2028q3_other_margin	2028Q3 / upside	86.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
other gross profit proxy upside_2028q3_other_gross	2028Q3 / upside	172.83 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(upside_2028q3_other_proxy, upside_2028q3_other_margin).
GAAP gross profit upside_2028q3_gross_profit	2028Q3 / upside	791.94 USD_millions	derived: Sum of analytical business contributions. Formula: sum(upside_2028q3_atlas_gross, upside_2028q3_other_gross).
Total expensed stock compensation upside_2028q3_sbc	2028Q3 / upside	190.00 USD_millions	assumption: Desk assumption, not company guidance.
Operating expense excluding SBC / revenue upside_2028q3_cash_opex_ratio	2028Q3 / upside	47.0% ratio	assumption: Includes non-SBC amortization and ordinary costs; not a disclosed company margin.
Operating expenses excluding SBC upside_2028q3_cash_opex	2028Q3 / upside	493.06 USD_millions	derived: Desk operating leverage assumption. Formula: multiply(upside_2028q3_revenue, upside_2028q3_cash_opex_ratio).
SBC already in cost of revenue upside_2028q3_cogs_sbc	2028Q3 / upside	16.00 USD_millions	assumption: Desk assumption, not company guidance.
SBC in operating expenses upside_2028q3_opex_sbc	2028Q3 / upside	174.00 USD_millions	derived: Total SBC less amount already reflected in gross profit; avoids double counting. Formula: subtract(upside_2028q3_sbc, upside_2028q3_cogs_sbc).
GAAP operating expenses upside_2028q3_gaap_opex	2028Q3 / upside	667.06 USD_millions	derived: Operating cost scope excludes SBC already in cost of revenue. Formula: sum(upside_2028q3_cash_opex, upside_2028q3_opex_sbc).
GAAP operating income upside_2028q3_operating_income	2028Q3 / upside	124.88 USD_millions	derived: Independent FY2028 business/expense forecast. Formula: subtract(upside_2028q3_gross_profit, upside_2028q3_gaap_opex).
Noncash depreciation/amortization upside_2028q3_da	2028Q3 / upside	10.00 USD_millions	assumption: Desk assumption, not company guidance.
Interest income less cash tax upside_2028q3_net_interest_cash_tax	2028Q3 / upside	12.00 USD_millions	assumption: Desk $17M net interest less $5M cash taxes; no future investment-security gain assumed.
Cash earnings before working capital upside_2028q3_before_wc	2028Q3 / upside	336.88 USD_millions	derived: Includes expensed SBC once; no negative tax refund forced from GAAP losses. Formula: sum(upside_2028q3_operating_income, upside_2028q3_sbc, upside_2028q3_da, upside_2028q3_net_interest_cash_tax).
Net operating working-capital use upside_2028q3_wc	2028Q3 / upside	0.00 USD_millions	assumption: Includes receivables, deferred revenue, commissions and other cash timing; positive use/negative source.
Operating cash flow upside_2028q3_cfo	2028Q3 / upside	336.88 USD_millions	derived: Atlas billed in arrears can grow without equivalent upfront deferred-revenue funding. Formula: subtract(upside_2028q3_before_wc, upside_2028q3_wc).
Cash PP&E and other asset purchases upside_2028q3_capex	2028Q3 / upside	4.00 USD_millions	assumption: Desk assumption, not company guidance.
Finance-lease principal paid upside_2028q3_lease_principal	2028Q3 / upside	2.00 USD_millions	assumption: Desk assumption, not company guidance.
CFO less PP&E upside_2028q3_fcf	2028Q3 / upside	332.88 USD_millions	derived: Generic historical FCF scope. Formula: subtract(upside_2028q3_cfo, upside_2028q3_capex).
Company-definition FCF upside_2028q3_company_fcf	2028Q3 / upside	330.88 USD_millions	derived: Company additionally subtracts finance-lease principal, a financing outflow. Formula: subtract(upside_2028q3_fcf, upside_2028q3_lease_principal).
Taxes on net-settled equity awards upside_2028q3_withholding	2028Q3 / upside	75.00 USD_millions	assumption: Desk assumption, not company guidance.
Cash after equity withholding upside_2028q3_cash_after_withholding	2028Q3 / upside	255.88 USD_millions	derived: Financing-classified withholding; no double deduction of GAAP SBC expense. Formula: subtract(upside_2028q3_company_fcf, upside_2028q3_withholding).
Share of annual Atlas revenue upside_2028q4_atlas_weight	2028Q4 / upside	27.0% ratio	assumption: Desk assumption, not company guidance.
Atlas revenue proxy upside_2028q4_atlas_proxy	2028Q4 / upside	897.99 USD_millions	derived: Consumption phasing, not fixed contracted quarterly revenue. Formula: multiply(upside_fy28_atlas_target, upside_2028q4_atlas_weight).
Share of annual remaining revenue upside_2028q4_other_weight	2028Q4 / upside	26.0% ratio	assumption: Desk assumption, not company guidance.
Remaining revenue proxy upside_2028q4_other_proxy	2028Q4 / upside	217.71 USD_millions	derived: Allows different renewal/license seasonality from Atlas. Formula: multiply(upside_fy28_other_target, upside_2028q4_other_weight).
Consolidated revenue upside_2028q4_revenue	2028Q4 / upside	1,115.70 USD_millions	derived: Two mutually exclusive revenue buckets cover the whole company. Formula: sum(upside_2028q4_atlas_proxy, upside_2028q4_other_proxy).
atlas GAAP gross margin upside_2028q4_atlas_margin	2028Q4 / upside	73.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
atlas gross profit proxy upside_2028q4_atlas_gross	2028Q4 / upside	655.53 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(upside_2028q4_atlas_proxy, upside_2028q4_atlas_margin).
other GAAP gross margin upside_2028q4_other_margin	2028Q4 / upside	86.0% ratio	assumption: Analytical segment margin; no exact company segment gross margin is disclosed.
other gross profit proxy upside_2028q4_other_gross	2028Q4 / upside	187.23 USD_millions	derived: Includes allocated cost-of-revenue SBC and amortization. Formula: multiply(upside_2028q4_other_proxy, upside_2028q4_other_margin).
GAAP gross profit upside_2028q4_gross_profit	2028Q4 / upside	842.76 USD_millions	derived: Sum of analytical business contributions. Formula: sum(upside_2028q4_atlas_gross, upside_2028q4_other_gross).
Total expensed stock compensation upside_2028q4_sbc	2028Q4 / upside	200.00 USD_millions	assumption: Desk assumption, not company guidance.
Operating expense excluding SBC / revenue upside_2028q4_cash_opex_ratio	2028Q4 / upside	47.0% ratio	assumption: Includes non-SBC amortization and ordinary costs; not a disclosed company margin.
Operating expenses excluding SBC upside_2028q4_cash_opex	2028Q4 / upside	524.38 USD_millions	derived: Desk operating leverage assumption. Formula: multiply(upside_2028q4_revenue, upside_2028q4_cash_opex_ratio).
SBC already in cost of revenue upside_2028q4_cogs_sbc	2028Q4 / upside	17.00 USD_millions	assumption: Desk assumption, not company guidance.
SBC in operating expenses upside_2028q4_opex_sbc	2028Q4 / upside	183.00 USD_millions	derived: Total SBC less amount already reflected in gross profit; avoids double counting. Formula: subtract(upside_2028q4_sbc, upside_2028q4_cogs_sbc).
GAAP operating expenses upside_2028q4_gaap_opex	2028Q4 / upside	707.38 USD_millions	derived: Operating cost scope excludes SBC already in cost of revenue. Formula: sum(upside_2028q4_cash_opex, upside_2028q4_opex_sbc).
GAAP operating income upside_2028q4_operating_income	2028Q4 / upside	135.38 USD_millions	derived: Independent FY2028 business/expense forecast. Formula: subtract(upside_2028q4_gross_profit, upside_2028q4_gaap_opex).
Noncash depreciation/amortization upside_2028q4_da	2028Q4 / upside	10.50 USD_millions	assumption: Desk assumption, not company guidance.
Interest income less cash tax upside_2028q4_net_interest_cash_tax	2028Q4 / upside	12.00 USD_millions	assumption: Desk $17M net interest less $5M cash taxes; no future investment-security gain assumed.
Cash earnings before working capital upside_2028q4_before_wc	2028Q4 / upside	357.88 USD_millions	derived: Includes expensed SBC once; no negative tax refund forced from GAAP losses. Formula: sum(upside_2028q4_operating_income, upside_2028q4_sbc, upside_2028q4_da, upside_2028q4_net_interest_cash_tax).
Net operating working-capital use upside_2028q4_wc	2028Q4 / upside	-35.00 USD_millions	assumption: Includes receivables, deferred revenue, commissions and other cash timing; positive use/negative source.
Operating cash flow upside_2028q4_cfo	2028Q4 / upside	392.88 USD_millions	derived: Atlas billed in arrears can grow without equivalent upfront deferred-revenue funding. Formula: subtract(upside_2028q4_before_wc, upside_2028q4_wc).
Cash PP&E and other asset purchases upside_2028q4_capex	2028Q4 / upside	4.00 USD_millions	assumption: Desk assumption, not company guidance.
Finance-lease principal paid upside_2028q4_lease_principal	2028Q4 / upside	2.00 USD_millions	assumption: Desk assumption, not company guidance.
CFO less PP&E upside_2028q4_fcf	2028Q4 / upside	388.88 USD_millions	derived: Generic historical FCF scope. Formula: subtract(upside_2028q4_cfo, upside_2028q4_capex).
Company-definition FCF upside_2028q4_company_fcf	2028Q4 / upside	386.88 USD_millions	derived: Company additionally subtracts finance-lease principal, a financing outflow. Formula: subtract(upside_2028q4_fcf, upside_2028q4_lease_principal).
Taxes on net-settled equity awards upside_2028q4_withholding	2028Q4 / upside	82.00 USD_millions	assumption: Desk assumption, not company guidance.
Cash after equity withholding upside_2028q4_cash_after_withholding	2028Q4 / upside	304.88 USD_millions	derived: Financing-classified withholding; no double deduction of GAAP SBC expense. Formula: subtract(upside_2028q4_company_fcf, upside_2028q4_withholding).
Consolidated revenue ($M) upside_fy2027_revenue	FY2027 / upside	3,085.25 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_revenue, upside_2027q3_revenue, upside_2027q4_revenue).
Atlas revenue proxy ($M) upside_fy2027_atlas_proxy	FY2027 / upside	2,375.64 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_atlas_proxy, upside_2027q3_atlas_proxy, upside_2027q4_atlas_proxy).
Remaining revenue proxy ($M) upside_fy2027_other_proxy	FY2027 / upside	709.61 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_other_proxy, upside_2027q3_other_proxy, upside_2027q4_other_proxy).
GAAP gross profit ($M) upside_fy2027_gross_profit	FY2027 / upside	2,295.74 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_gross_profit, upside_2027q3_gross_profit, upside_2027q4_gross_profit).
GAAP operating income ($M) upside_fy2027_operating_income	FY2027 / upside	17.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_operating_income, upside_2027q3_operating_income, upside_2027q4_operating_income).
Operating cash flow ($M) upside_fy2027_cfo	FY2027 / upside	739.41 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cfo, upside_2027q3_cfo, upside_2027q4_cfo).
PP&E and other asset purchases ($M) upside_fy2027_capex	FY2027 / upside	10.79 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_capex, upside_2027q3_capex, upside_2027q4_capex).
Finance-lease principal ($M) upside_fy2027_lease_principal	FY2027 / upside	7.55 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_lease_principal, upside_2027q3_lease_principal, upside_2027q4_lease_principal).
CFO less PP&E ($M) upside_fy2027_fcf	FY2027 / upside	728.62 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_fcf, upside_2027q3_fcf, upside_2027q4_fcf).
CFO less PP&E and lease principal ($M) upside_fy2027_company_fcf	FY2027 / upside	721.07 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_company_fcf, upside_2027q3_company_fcf, upside_2027q4_company_fcf).
Company FCF less share withholding ($M) upside_fy2027_cash_after_withholding	FY2027 / upside	478.40 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cash_after_withholding, upside_2027q3_cash_after_withholding, upside_2027q4_cash_after_withholding).
Consolidated revenue ($M) upside_fy2028_revenue	FY2028 / upside	4,163.24 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2028q1_revenue, upside_2028q2_revenue, upside_2028q3_revenue, upside_2028q4_revenue).
Atlas revenue proxy ($M) upside_fy2028_atlas_proxy	FY2028 / upside	3,325.90 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2028q1_atlas_proxy, upside_2028q2_atlas_proxy, upside_2028q3_atlas_proxy, upside_2028q4_atlas_proxy).
Remaining revenue proxy ($M) upside_fy2028_other_proxy	FY2028 / upside	837.34 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2028q1_other_proxy, upside_2028q2_other_proxy, upside_2028q3_other_proxy, upside_2028q4_other_proxy).
GAAP gross profit ($M) upside_fy2028_gross_profit	FY2028 / upside	3,148.02 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2028q1_gross_profit, upside_2028q2_gross_profit, upside_2028q3_gross_profit, upside_2028q4_gross_profit).
GAAP operating income ($M) upside_fy2028_operating_income	FY2028 / upside	513.30 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2028q1_operating_income, upside_2028q2_operating_income, upside_2028q3_operating_income, upside_2028q4_operating_income).
Operating cash flow ($M) upside_fy2028_cfo	FY2028 / upside	1,420.30 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2028q1_cfo, upside_2028q2_cfo, upside_2028q3_cfo, upside_2028q4_cfo).
PP&E and other asset purchases ($M) upside_fy2028_capex	FY2028 / upside	16.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2028q1_capex, upside_2028q2_capex, upside_2028q3_capex, upside_2028q4_capex).
Finance-lease principal ($M) upside_fy2028_lease_principal	FY2028 / upside	8.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2028q1_lease_principal, upside_2028q2_lease_principal, upside_2028q3_lease_principal, upside_2028q4_lease_principal).
CFO less PP&E ($M) upside_fy2028_fcf	FY2028 / upside	1,404.30 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2028q1_fcf, upside_2028q2_fcf, upside_2028q3_fcf, upside_2028q4_fcf).
CFO less PP&E and lease principal ($M) upside_fy2028_company_fcf	FY2028 / upside	1,396.30 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2028q1_company_fcf, upside_2028q2_company_fcf, upside_2028q3_company_fcf, upside_2028q4_company_fcf).
Company FCF less share withholding ($M) upside_fy2028_cash_after_withholding	FY2028 / upside	1,096.30 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2028q1_cash_after_withholding, upside_2028q2_cash_after_withholding, upside_2028q3_cash_after_withholding, upside_2028q4_cash_after_withholding).

Model boundaries

Atlas revenue amounts are analytical approximations from rounded reported mix percentages; the company does not publish exact Atlas revenue in these statements. The remainder includes Enterprise Advanced, other subscriptions and services.
GAAP and non-GAAP diluted shares differ. No forward EPS or share-price valuation is modeled, and buybacks are not assumed to eliminate compensation dilution.
FY2027 GAAP operating outcomes use management guidance references; FY2028 margins and expense ratios are desk assumptions. Q2 profitability is not extrapolated over the weaker Q3 GAAP outlook.
RPO is not a complete future-revenue inventory. Disclosed RPO omits certain short contracts and consumption affects timing; reported RPO growth is not automatically Atlas usage growth.
Generic FCF deducts PP&E; company FCF also deducts finance-lease principal. Cash after share withholding additionally deducts financing-classified taxes on settled equity awards.
CFO is an earnings/noncash/working-capital approximation. No complete tax, investment portfolio, acquisition, buyback or balance-sheet forecast is included; future security gains are zero.

Atlas consumption and enterprise timing with a full cash-definition check

Research reviewed 2026-09-19

Can sustained workload growth improve GAAP returns after cloud costs and equity compensation?

H1 revenue was $1,459.389M, gross profit $1,065.940M and GAAP operating income $3.596M. Atlas represented a rounded 74% of H1 revenue and 73% of Q2, so the model labels derived Atlas dollars as proxies. Q2 GAAP operating profit of $28.4M contrasts with the Q3 $10.5M-$14.5M loss outlook. H1 CFO of $343.509M included $286.769M SBC; receivables provided $43.695M while deferred revenue used $24.183M. PP&E of $4.791M and finance-lease principal of $3.554M yield company FCF of $335.164M. Subtracting $117.673M award withholding leaves $217.491M, before $200.254M repurchases. Unrestricted cash and securities totaled $2,411.254M, with $3.411M restricted separately. RPO of $1,519.2M and cRPO of $797.3M are not an exhaustive consumption forecast.

The competing explanation

AI interest may fail to translate into durable paid workloads, while customer optimization, competition and cloud costs limit returns. Enterprise timing can flatter an individual quarter. Large stock compensation and cash settlement needs can absorb benefits from adjusted operating leverage.

Risks to track

Atlas consumption can fluctuate with customer budgets and optimization.
Cloud partners are suppliers, channels and potential competitors.
Rounded Atlas mix does not support precise product or segment conclusions.
Enterprise license and renewal timing can move quarterly margins.
RPO excludes some short contracts and consumption affects recognition timing.
Stock compensation, withholding and repurchases can limit per-share cash progress.

Next checkpoints

Q3 guidance delivery · Quarter ends October 31, 2026; release date unconfirmed (estimated). Compare $756M-$761M revenue with the explicit GAAP operating loss outlook.
Atlas and enterprise mix · Each quarterly filing (estimated). Check actual consumption and renewal commentary before treating RPO growth as revenue growth.
Cash and ownership · Every cash-flow statement (estimated). Reconcile PP&E, lease principal, equity withholding and repurchases with CFO.

Data coverage and open work

Atlas revenue amounts are analytical approximations from rounded reported mix percentages; the company does not publish exact Atlas revenue in these statements. The remainder includes Enterprise Advanced, other subscriptions and services.
GAAP and non-GAAP diluted shares differ. No forward EPS or share-price valuation is modeled, and buybacks are not assumed to eliminate compensation dilution.
FY2027 GAAP operating outcomes use management guidance references; FY2028 margins and expense ratios are desk assumptions. Q2 profitability is not extrapolated over the weaker Q3 GAAP outlook.
RPO is not a complete future-revenue inventory. Disclosed RPO omits certain short contracts and consumption affects timing; reported RPO growth is not automatically Atlas usage growth.
Generic FCF deducts PP&E; company FCF also deducts finance-lease principal. Cash after share withholding additionally deducts financing-classified taxes on settled equity awards.
CFO is an earnings/noncash/working-capital approximation. No complete tax, investment portfolio, acquisition, buyback or balance-sheet forecast is included; future security gains are zero.

This review: First sourced Atlas/remainder scenarios with rounded-mix disclosure, GAAP guidance bridge and lease/compensation cash reconciliation.

What the memory says

State as of the 2026-09-18 close: in a 120-day uptrend, above its 200-day, off the 52-week high, with overhead supply, quiet volume, closed weak, and some peers moving

300 similar days

Vs the market, in points	Low	Middle	High	Share up
1 session	-2.6	+0.0	+2.5	50%
5 sessions	-5.6	+0.3	+6.6	52%
10 sessions	-7.1	+1.2	+10.9	55%

Historical distributions of what followed similar states, measured before today's news. Not a forecast; no side.

Notes on this name

No published notes on this name yet.

Scorecard: 0 notes scored

Next report: 2026-11-30 (source: estimated from 10-Q filed 2026-09-01 plus 90 days)

Provenance

[1] reported: RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001628280-25-054768, 10-Q filed 2025-12-02; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[2] derived: RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001628280-26-016799, 10-K filed 2026-03-11; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[3] reported: RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001628280-26-039150, 10-Q filed 2026-05-29; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[4] reported: RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001628280-26-059830, 10-Q filed 2026-09-01; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[5] reported: GrossProfit, accession 0001628280-25-054768, 10-Q filed 2025-12-02; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[6] derived: GrossProfit, accession 0001628280-26-016799, 10-K filed 2026-03-11; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[7] reported: GrossProfit, accession 0001628280-26-039150, 10-Q filed 2026-05-29; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[8] reported: GrossProfit, accession 0001628280-26-059830, 10-Q filed 2026-09-01; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[9] reported: OperatingIncomeLoss, accession 0001628280-25-054768, 10-Q filed 2025-12-02; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[10] derived: OperatingIncomeLoss, accession 0001628280-26-016799, 10-K filed 2026-03-11; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[11] reported: OperatingIncomeLoss, accession 0001628280-26-039150, 10-Q filed 2026-05-29; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[12] reported: OperatingIncomeLoss, accession 0001628280-26-059830, 10-Q filed 2026-09-01; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[13] reported: NetIncomeLoss, accession 0001628280-25-054768, 10-Q filed 2025-12-02; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[14] derived: NetIncomeLoss, accession 0001628280-26-016799, 10-K filed 2026-03-11; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[15] reported: NetIncomeLoss, accession 0001628280-26-059830, 10-Q filed 2026-09-01; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[16] reported: EarningsPerShareDiluted, accession 0001628280-26-039150, 10-Q filed 2026-05-29; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[17] reported: EarningsPerShareDiluted, accession 0001628280-26-059830, 10-Q filed 2026-09-01; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[18] reported: WeightedAverageNumberOfDilutedSharesOutstanding, accession 0001628280-26-039150, 10-Q filed 2026-05-29; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[19] reported: WeightedAverageNumberOfDilutedSharesOutstanding, accession 0001628280-26-059830, 10-Q filed 2026-09-01; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[20] reported: CashAndCashEquivalentsAtCarryingValue, accession 0001628280-25-054768, 10-Q filed 2025-12-02; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[21] reported: CashAndCashEquivalentsAtCarryingValue, accession 0001628280-26-016799, 10-K filed 2026-03-11; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[22] reported: CashAndCashEquivalentsAtCarryingValue, accession 0001628280-26-039150, 10-Q filed 2026-05-29; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[23] reported: CashAndCashEquivalentsAtCarryingValue, accession 0001628280-26-059830, 10-Q filed 2026-09-01; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[24] derived: NetCashProvidedByUsedInOperatingActivities, accession 0001628280-25-054768, 10-Q filed 2025-12-02; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[25] derived: NetCashProvidedByUsedInOperatingActivities, accession 0001628280-26-016799, 10-K filed 2026-03-11; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[26] reported: NetCashProvidedByUsedInOperatingActivities, accession 0001628280-26-039150, 10-Q filed 2026-05-29; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[27] derived: NetCashProvidedByUsedInOperatingActivities, accession 0001628280-26-059830, 10-Q filed 2026-09-01; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[28] derived: PaymentsToAcquirePropertyPlantAndEquipment, accession 0001628280-25-054768, 10-Q filed 2025-12-02; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[29] derived: PaymentsToAcquirePropertyPlantAndEquipment, accession 0001628280-26-016799, 10-K filed 2026-03-11; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[30] reported: PaymentsToAcquirePropertyPlantAndEquipment, accession 0001628280-26-039150, 10-Q filed 2026-05-29; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[31] derived: PaymentsToAcquirePropertyPlantAndEquipment, accession 0001628280-26-059830, 10-Q filed 2026-09-01; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[32] derived: NetCashProvidedByUsedInOperatingActivities - PaymentsToAcquirePropertyPlantAndEquipment, accession 0001628280-25-054768, 10-Q filed 2025-12-02; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[33] derived: NetCashProvidedByUsedInOperatingActivities - PaymentsToAcquirePropertyPlantAndEquipment, accession 0001628280-26-016799, 10-K filed 2026-03-11; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[34] derived: NetCashProvidedByUsedInOperatingActivities - PaymentsToAcquirePropertyPlantAndEquipment, accession 0001628280-26-039150, 10-Q filed 2026-05-29; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json
[35] derived: NetCashProvidedByUsedInOperatingActivities - PaymentsToAcquirePropertyPlantAndEquipment, accession 0001628280-26-059830, 10-Q filed 2026-09-01; retrieved 2026-09-19T19:41:04+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json

What the author read

September 1 fiscal Q2 results and raised annual guidance · retrieved 2026-09-19
September 1 Form 10-Q: mix, recognition, equity compensation and cash · retrieved 2026-09-19

Compiled 2026-09-19T19:41:04.881211+00:00 · authored 3cd88e14b5e0 · generated 16a47bc976dd · JSON

Daily notes · Scorecard