Bridgeline Digital (BLIN) 14 Feb 242024 Q1 Earnings call transcript

Thank you for standing by, and welcome to Bridgeline Digital's First Quarter 2024 Earnings Conference Call. [Operator Instructions] I would now like to hand the call over to CFO, Tom Windhausen. Please, go ahead.

Thank you, and good afternoon, everyone. Thank you for joining us today. Windhausen, Chief Tom Bridgeline Officer is Digital. name I'm Financial the of My welcome fiscal to conference pleased you I'm to our call. XXXX quarter first

Bridgeline's on discussion will questions. of On is business and highlights. will us we with then our results the President update for will Kahn, quarter, you begin a the taking who financial and conclude with this call by I CEO, our call Ari afternoon the

Act comments that we forward-looking during call, Before of Securities I'd differ actual future this to and subject risks are the that the of and remind events like statements of uncertainties meaning are make that or materially Securities listeners we from not results. cause begin, XXE to to Act the of that Section facts Bridgeline XXXX statements are XXA XXXX of and regarding conference could historical Section within such

obligation harbor Litigation internal These beliefs today the made the base our time, no safe disclaim considered to may report The XXXX. of an should be we inform you The of expectations expressly that change Securities statements and today not assume they pursuant we projections which Act we future of and provisions performance. indication Private as results if upon are over do. to and Reform

made materially statements in those forward-looking expressed regulatory competitive, cause by and differ projections technological, results economic, or to from business, Bridgeline's or Changes other factors actual could the implied today.

time Digital that the have business, review documents Commission. please more Exchange time filed and detailed these our by on with For an the impact other Bridgeline about and and to may information Securities factors reports risks from

to commenting will We non-GAAP afternoon, measures financials our the call our release. measures non-GAAP Also, reconciliation earnings in financial performance. provide please note company's the financial this GAAP discuss of we these on some a on that when

our by website. earnings a You visiting of release our can obtain copy

and Bridgeline's I over call to Kahn, Ari Ari? would now CEO. like to President turn the

everyone. afternoon, Good Tom. you, Thank

XXXX contracts fiscal I signed annual of sales customer Our had adding We first the XX revenue. recurring $X.X $XXX,XXX ARR, joined with sales, since quarter Bridgeline. new subscription over license in strongest million in

of new is Sales HawkSearch, creating drive revenue subscription XX% the were driven Search future. sales to demand to the company, and well UI expected total revenue. in will revenue Subscription that Smart over XX% is continue increase. and Search with percentage Rapid the now for that overall of our of is by release

services quarter Rapid $XXX,XXX install cycle, of addressable our Professional in was advantage our This that because a last market. making competitive no in our increases out revenue we implementation that new shortens UI to products release customers allows the is sales costs. quarter with box down invested with to this part total the HawkSearch

budgets [ the they product live. the from use purchase said as invest ] in or additional launch go-to-market Rapid allow. can in enhancements future budget Smart more These Search Bridgeline to their the UI expands quickly total market seek of who the to than and customers invest custom a more subscriptions subscription companies the after go custom our include addressable and into such implementation would to

Search realized have It revenue Smart allowing search. by XXX% Smart online have Search customers value made. need not not online our Bridgeline's release with their find can delivers is keyword-based may their to product have of to would they that customers clear their revenue It found traditional the we products buy Search. proposition most increases XXX with that they increase customers. or important ever to a over

revenue. from base existing license significantly their hot to additional above an customer our win Smart our with fee, a Rapid their customer gives along Search UI, it search to that Smart for and add Search make own which an the helps grow new new allows subscription improvement to because Bridgeline fact revenue an can more us Customers beyond customers opportunity HawkSearch to immediate current

with intelligent enhancement products an to shopper Search find allows AI-based to search. Smart that natural HawkSearch the more is

you a photograph shopping, website. on while can First, take a and find with smartphone Search-powered Smart your products

you a to website, specify Search-powered shopping languages. buy. of your describe Smart than a than items want to more have And you rather create can can list goal the you in that on this do thirdly, all Secondly, to individual XX

Here's an example.

Search as products and may a first food tank a can about I which X-week will if camper trip such ask ready-to-eat include as not on the the all also say cooking?" a response trip. bring meal products website, the have the [ thought you propane Let's a have "What ] for expected camper pouch, in camper a cylinder include cooking such simply should planning Smart camping will That place.

that may from the The a and those, that person with a the that website and website. cool they picture quickly they boots camera, boots allow on to see and search like, hiking buy immediately find street their camper the those and Search-powered take to then can snap person Smart picture with

These Search. products to vector experience transformers be used can are products Smart Smart the how your look related advancements databases other. catalog, leverages like, online language AI, possible latest each in not understand products models, large Search are without deeply and including and to including how what

to that converse and see websites The empowers to your help needs and today future it. them customers have may products shopping understand solutions. with of intelligent they online Search realized can need recommend is even find that not sales become your who Smart they to site for advisers,

without offers dollars Smart capabilities point of in to or with these site in weeks need of intelligent and natural exist not view, offers From elsewhere the a time competitive abilities thousands UI, redesigns along and integrations. do market. of And the that Search data invest Rapid it

customers, investment their that branding. can Search of box existing customer without complicated they to the and politics is out Smart for HawkSearch experience Because the technical accompany changes upgrade a or

partnerships Salesforce and are sales our Optimizely. platform through driven BigCommerce, HawkSearch largely with

Xngage Americaneagle.com We agency HawkSearch also have and partners, drive sales. help including that

for [ an ], brands. [ part number search electrical ] YESCO part and to quarter locations that functionality search full make distributor unique Smart Sales allow for its a in measurement chose an and includes with YESCO the of will in their catalog. and automatically on [ job part conversions. allows while partial immediately picture take further and while go searches shoppers performing X,XXX Search that ] find XX a the to electrician part first ] part [ of unit YESCO number

distributor selected is this for more needs to more electrical The the e-commerce Another [ find describe ] than their by search to contractors or to $XXX,XXX. components. XXX to to with complex site enhancement value Smart Search allow images enhance for electrical over products contract total bringing

its smartphone immediately and and used needs company national Rapid The facts, app. the A information resource portal policy leading to custom HawkSearch UI insurance provider insurance in their for clients' solve research find library. documents selected to

cloud is what and access to its federated where an in Smart customers leader of a ], multiple knowledge help search, Savion bases. governance, team example indexes to support And third-party Search several identity selected is across this repositories. find [ HawkSearch information for called information

in the ensure scenarios. language. shoppers specializing in Search HawkSearch that products the and catalog. using The taken in to analyze to real-world products, their or Search with retailer to from Smart farming to find across and XX,XXX-product boost chose find and images of parts Smart images natural allow smartphone a their field Smart hundreds sales customers could tested A customer agriculture photographs will their brochures Search

special site, over highlight to building will HawkSearch their materials retailer educational e-commerce in the of products, enhance retailer top offers catalog discovery site. products. featured a including HawkSearch Rainbow allow e-commerce leading X,XXX to Resource retailer, keyword-triggered to product their HawkSearch's campaigns capability A selected for power selected Center, promotional and

and relevancy Nail for their leading and grow home Gun chose its tuning discovery streamline granular HawkSearch catalog. that large, product product will auto-complete Depo, a improvement revenue to complex significantly retailer, process

our such building the focused supplies, industry future expenses. where like without lead our Smart Search narrow efficient. existing customers products to to drive with We're sales on also generation incurring even Overall, leader large we become as marketing selling further industries efficiently more marketing revenue make and is can to

Although it retention, rapidly have continues new burn, HawkSearch within customer legacy is growth. to opportunities our outstanding upsell due double-digit customer to has product is cumulative subscription And base. winning revenue customers and flat

with integration commerce we Conference, is Optimizely our important October, part Optimizely Optimizely-configured we strategy. connector. joined an using partnership HawkSearch's the Xngage Our where of at In User Annual and announced with Xngage go-to-market their

This Optimizely-configured customers, X,XXX to a promote in further position now HawkSearch more a webinars already several online for filed unique announcement is have than sales. search and purchased with to was improve site license.

NBC, We XXX,XXX Canada & and market helps recently announced the leader compliance similar Johnson PlayStation, improve with with in Johnson accessiBe, to in a legislation partnership Act American and accessiBe reseller and companies, accessibility. web including Disability Europe. over

sales, active litigation sell but have will interest our accessiBe reduces whom of XXX-plus also their only compliant in customers, many with legislation. risk increases Bridgeline online an accessibility, which not to

an front and led front. multi-store supports BigCommerce that search big advantage for franchise connector for Multi-store chain is Europe BigCommerce HawkSearch. recently and a only HawkSearch differentiator in in partnership. market store our the has to store the select furniture HawkSearch This a to gives

store market Conference. multiple Rapid latest colors Online auto-complete with at showcase connector BXB to furniture will unique BigCommerce user bar. a can May quickly use go countries see and in where the Europe in -- versions of HawkSearch's experience The with in across drop-down different Bridgeline this the multiple languages, UI to Chicago search a will the from at users BigCommerce HawkSearch's

existing to X revenue. Bridgeline, with and annual Smart base. customer last recurring new a much growth Search sales to been Going strong, of more $XXX,XXX to our for we HawkSearch in AI than expect especially drive forward, with months of the in just the lead in in X pipeline sales in has upgrades investments

markets Our go-to-market and per narrow market of strategy sales on dollars. to relies maximize partnerships targeting in

Windhausen. to time, this our Officer, Chief at Financial So Tom off hand I'd like to Tom?

ended provide fiscal financial December XXXX. the an update our XXXX, which for first quarter Ari. I'll results of XX, on Thanks,

for prior-year the $X.X December is million XX, which XXXX the of million revenue, compared revenue XX, was revenue, $X.X in SaaS period. total in Subscription was and hosting and quarter million $X.X the December The million compared ended to licenses, quarter $X.X comprised maintenance XXXX period. for license the to prior-year ended

revenue, license the total total revenue XX% of for revenue and was subscription of percentage a As quarter.

a $XXX,XXX quarter in revenue XX, Services [ $XXX,XXX prior-year the the December XXXX, quarter. ] [ was first from ] for decrease ended

As the of revenue, accounted for services total a percentage of XX% in revenue quarter. total revenue

quarter Cost quarter as $X.X prior-year the million a for period. profit gross prior was slight And this compared XX% Overall, December decrease million compared to margin $X.X for the of XX% period. XXXX, ended year in million was the profit XX, was in a million the the from gross our to $X.X result, prior-year for revenue period. in quarter, as $X.X comparable

consistent Subscription gross $X.X quarter the for gross period. ended margins and period. the period, were with the Operating with consistent the quarter, compared $X.X XX, in prior-year December to XX% margins million in XX% license prior-year XX% for and were were services the expenses million prior-year XXXX,

net of value the or quarter compared liability-classified of fair to in change $X.X $XX,XXX a ended Net positive $XXX,XXX loss was in prior-year period. adjusted period. December the to And $XXX,XXX, the expenses, in XXXX our warrants of compared operating negative noncash quarter income of ] prior-year [ for below to $X.X $XXX,XXX XX, the EBITDA Moving $XXX,XXX income compared prior-year a for quarter loss resulted the million period. the in in the finally, in [ ] $XXX,XXX million, was

sheet. December balance million had the accounts cash million. XXXX, to At and on $X.X of nearly $X.X receivable we XX, of Moving

of or average Our XXXX. payments That principal rate EUR interest approximately debt weighted a with total outstanding, through December XXX,XXX. as X.XX%, XX, USD was debt of due XXXX, has XXX,XXX

or any any no acquisition. previous have in other We earn-outs debt from business,

our assets total well as a result total did that of receivables our as were cash $XX.X quarter, collections XX, of December liabilities timing in and and the were in We of have of $X.X million a was timing at decrease payments. million. vendor And

of $XXX,XXX to which vendor, partner certain payments over included quarter the recur. will a not Specifically,

our give an cap update I'll Finally, on table.

from As December outstanding our stock end shares, options. October million preferred warrants on as-converted and XX.X XX,XXX expired. of shares ] XX,XXX Series XXXX of XX, ] included the basis, period warrants the million [ In X.X cap table an during XXXX, the X.X [ C of million quarter,

price, including XXX,XXX exercised have in is price XXX,XXX $X.XX in months in price, expire XXX,XXX approximately outstanding, with November nearly exercised primarily expire warrants of $X, XXXX. [ $X.XX XXXX. expiring X XXXX exercised with a a warrants XXX,XXX September and After that, warrants in warrants whose May we'll ] just which Another under will

on we time, beyond forward innovation, this for focus continue success customer success look today. in continued XXXX And I'd us for to Thank fiscal the and our shareholder and value. you growth, answers. delivering like revenue and as and to We Moderator? product call all joining call the open on questions growth at

of Halpern down of Howard [Operator Instructions] from our the first Taglich line question Brothers.

please, question, Howard? Your

announced, have how sales size? you into the And potential that are in With innovations and translate might recent all of now what terms we that future growth? looking deal at cycle

Great. Great.

made of to by this customers focus own investments releases a our ours. been UI And making immediate quarter big and a Search. We've big and has specifically allowing towards buy easier their of this the have our end X So value that Rapid last include to businesses. Smart software lot happened to

What Rapid implementation. make for huge custom without of does, invest that allows take to that it like launch services businesses in power expressive that a allows to the having medium to sites UI for small, their customers professional of available implementation. all a and hp.com any money a immediately amount powers site us our custom purchase This massive HawkSearch in can't

the budget for can It because either do win allows allocated otherwise our many deals money because whatsoever. that our that market. have the of have and This custom a they allows to It changes of to way be don't total services they increase zero time primarily we so to revenue. or don't our high-margin deals them license us implementation. structure customers addressable also It win are now fee recurring licensed, increases had the initial now couldn't us initial the

demo And spec customized time, them of our us us cycle website customers' allowing just by also to lot to give own catalog a and to a having sales product the and allowing takes their a with catalog. than which it implementation, rather custom decreases take demo avoid immediately a around generic out

So that's huge.

advancements to language increase passionate artificial so the in XX is excited have a that, shift sales artificial our huge is, and way does intelligence, my background, services What I'm large and models market, around cycle, called to and our TAM, addressable total leverages happened to really that last this, what about there's from months it intelligence. are our addition Smart decrease subscription. in this Search revenues Now

are And to the us around enabling Well, and all of language of for a information seen that lot natural cost libraries has ChatGPT fundamental agents and convert you. news find those other companies companies of with [ did don't automatically leverage the ] and products create create at, so have to a what was people dollars to like infrastructure. good can that dollars OpenAI those job very interfaces billions billions

those different available, customers and case and customers other Because to the well, from at customers. connect many to into just get the that we what dots our in very very we're are of capabilities that you capabilities carefully the use team, of then REO together but a look ] engineers companies intelligence set put understand [ artificial now value and directly a from that are not myself, and to deliver can very look at prospective from our our able our

Here's value. how we deliver can

what They what they want that the or they they the our customer know they sometimes. for store customers revenue. value need. know don't the buy, challenges they is know that what that online the have buy necessarily one they is do, has their of even increasing their don't know products So but online don't that to want And want to they to

to fix know to this to know performing for tractor, that tractor what I washers replace Search and take of purchase. things." What the out the is the need replace catalog can gear. I need I tell me supply gearbox, a other I are I "I in and need and Well, automatically that a also figure certain picture underneath ones I'm parts necessary don't that which tractor, I Smart have can task certain

buying online but washer Smart might owns ], now buying running store tractor the or it to I'm customer the local I of actually instead from and needed other And supply that that from [ Search. not I TSC it I do. component, down realize

it customers revenue These to capabilities leakage have way, buy that from and without make huge or him allow their our in don't buying because else something revenue impact. avoid someone Clear forgetting to they they something a avoid realize it. customers do

done because can things customers button HawkSearch HawkSearch our is great of backwards important this the Smart Search one single standard a every we've of that And push Smart means we've is keyword Search. turn capability. on with our and made compatible one Now, that completely that super

our can customers super one is upgrade So of our to Smart into derive them existing cycle sales single from value Search Every this. short.

right in our a by can we've that market itself, products Search in So all addition to to over great increase there being revenue got search by competitive more market. the Smart XX% us other

So think, these we really important. two features, by themselves, are

revenue revenue the P&L lot financial a this services than see bookings We can to more statement. total cycles, impact hit But versus start an don't traditionally our greater quarter we sales of subscription on in And to and have going products, in a have You our faster of day seeing thanks shown. X. excited revenue we're these do we've that the pipe. subscription X and mix revenue we're got

about Okay. now that legacy -- as to growth, see they going are in sales we growth And down customer sequential... talking have start to wound completely has sequential sales

were wind to the good It continuing sales seeing new the specifically decrease additional last that expect way year had there of start to substantial which that able for And got fill to them month, was along momentum took down, growth. and which we hole, was because we've December to final and in get $XX,XXX we revenue is a MRR. and

with to And other regard question Okay. one search.

an is independent that product. Now

a road sell to So if new down you backfill were to product? potential to your HawkSearch customer, then then is and a them sell it that the

Yes.

what either see HawkSearch customers most or with HawkSearch or -- or start both. our will have Either that We Smart both. start with companies new way, with to we can start is so our Search customers, expect

because won't the with XX keywords is to that sites, cultural leave of people their have from And world, have for you a it to domains, as know, the results also are. they search exactly Smart And as than out humans people a over We consequence, what And for don't want. saying keyword reasons. the rather effective And if search years you goals of lot most themselves things fine. expect BXB just past to in basically do just for that's what Search. part trained of product especially

You miss out don't on to those. want

decision easy, sense going get, it one to And right HawkSearch. is. you're makes they're Smart financial a whatever them whether market I think, buying buying on and customers, think, I Search really customers their upgrade very most the it's both, most So for for and is, to now to based

can HawkSearch today well. by bit So a that and sale a to back just get them benefits works as months reap just the give time come fast X that selling if the out in little upgrade, and do of we and of

last know use is improve for ROI seeing one because customer are customers search internally question it Is And it -- the stores you I from efficiencies? to their want inquiries. and the who help the to also

get We they end. every the databases that. have, is customer not case. sales And third-party common has team information, most we to that's and FAQs the search support huge with one other But examples HawkSearch a in use number find even a customer quarter and use of and to most the quarters of that whose recent internally,

that they be intelligently more And but all find a their they their they descriptions about that is products of of just Smart that quarter want this an to has don't -- to share information, that more need. of then information thousands of proprietary able to online, thousands and use help and that they products to want of consider learn tens PDF that Search interesting case read happened customers customer product

in that's database, the vector allows what's existing for to shares first Smart of a what is general, that different model it asking products what of it and is Search the so so a memory is and that So in long-term about product. couple Gap] then components. speaking think is somebody forth study and for. do two, those what catalog, And Smart when language and grow an [Audio you large called like about One, can Search, understand understanding the

we then intelligent results. those And get bring we together, more two

make better of results off train world and outside don't proprietary information Search can for share the internal your we to to intelligent customers. understand you just give your our even to Smart more products want that So

question from Instructions] [Operator of line comes Next [indiscernible] the Jacobson.

I guess. Valentine's, Happy

Happy right. That's Valentine's.

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things. Trouble guess got abound. I I two

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pragmatically, provide with piece the [ is, guess, $XXX,XXX assets? did So I current the thinking color you talked pragmatically respect some what's about the caveat can can that [ ] X and that deterioration to on I I over this Is $XXX,XXX tell the of anything think, mean, But here -- got assets the situation second and maybe about sheet that hear balance in XXX there we -- quarter. current on ] we hole. us range I this? you

which Yes. has I'll that Yes. has a to additional Tom capital some detail, bit can little company provide doing bolster and first no cash and And raises position. intention but that is color, of sufficient provide cash, higher-level foremost, it the any

we all, can positive for little bit to isn't of ability cash or all. challenge so the year this there recurring closed, structural a that at more Tom during cash second become a financial... speak And fiscal have

had Now of there cash. decrease we a

$XXX,XXX assets, -- or so. see receivables are those you the in If up look current you'll on

assets, liabilities and can there that go drove that in to and out collect in not much cash in [ So really ] payables. that and play short-term we just bring the is inside quarter and that receivables short-term timing

that. for it. Okay. appreciate I Thanks I Yes. guess Yes.

expectation have like also we that do where we When going Or expenses? increased to can we driven profitability -- flow quantify sort or that if is of you that positive, from? expectation of we'll of reduced you're think become maybe by some happen? like will cash an sales sort color So provide come an on can that that? And

right. Right,

Great. Okay.

huge to flow, never cash going expenses. cash. in million by it it's $X fall towards to this be it's will positive and of less We driven It's fiscal increases be be positive the flow. as than to decreases to year, into expect be in gross not in cash not So going end a expectation, an going profit,

-- strategically in continuing well to invest artificial improve as, marketing of we And our most position, don't but think customers. market value We especially to any course, the for see that long-term and R&D expenses. intelligence, reduce and as need winning company generates in the in investing new

profit gross And primarily subscription we the that subscriptions at driven XX%, mix services. think, XXs. through revenue And continue quarter increases. profit gross between at to to is in and a GM be I expect this the look So services versus

Yes.

the margins we look a I -- well done. What license are are increase are So it we point thought looking and gross of from quite sales, or nice. at? I When then increases this mean, sort the rapid out? we in projecting that's at linear is

that's of the No, it's and linear, more SaaS. nature

So HawkSearch X-year they most lifetime sales our the see are HawkSearch. in and revenue And typically -- that engagement the in are for months in in with new have an to generally $XX,XXX total range. $XX,XXX annual XX recurring initial customers. often we to And sales of XX of

So renew with times or a they row. start they in renewal, a several X- X-year

Now subscription, of it contract. because as that revenue largely initial pro over gets recognized the that life initial deal rata is

was quarter, able to perspective, get outstanding just going that from know very a our a excited spikes. revenue booking. not to So QX, a it, was from we big don't our And current even spike in is about generate and be which

We've our is products, which got important NRR. two HawkSearch. retention, growth to Now really into an is net revenue products And revenue broadly categories. component growth Bridgeline's fall

which our talk -- customers talk kind other search the Celebros, But product of effort. is about those one Our and is migrating about I HawkSearch. are of search, really I over to platform, most Hawk when

that revenue retention products, at revenue we And revenue. lower in $XX,XXX when large maybe the have annual recurring and net recurring monthly group And of XX retention high $XX,XXX, our have legacy some products $XXX,XXX percentiles. of look have that in revenue, they customers in a

dominated and and reasons will And they products, and bleed or of those Salesforce so those create clips players It's types is they because is those larger more the little apparent. down, they that demand we SAP have be But like the cycles. don't sales one revenue that by a whole a clips size marketplace products have, of sell anymore can will expensive. of that of just long those

Now -- become very of [ growing revenue that it's clips more XX% ]. those and is more our rapidly, Hawksearch I and buick over subscription think

So this when growth, started for make is join search and investments lots in the and therefore, we XXXX, ability revenue predictable growth our to the steady us customers, really and cash to to predictable platforms, of the [Audio of predictable continue year, marketing domination streams smaller Gap] flows.

for I mean, really appreciate Yes. of and change providing to mix, that's great product Okay. I that respect And information. with [ the the actually that, ]. thanks

at respect have cost with idea that that? So time of that? that last new in to on you the any in me, new Do a been least we term the is what contracts, the the benchmark whatever comparable the reached new -- have excuse we quarter where here, was the

sorry, on I last quarter up comparables broke in new there. The bit the customer little I'm a wins?

Yes.

$X.X -- in believe So you and referred million something. press And I was the was believe the also release I call, in to what that the new in the... number

bit most ] flatter as recent X. was twice [ So recurring annual revenue as big and our previous was little a quarter quarter than that this

quarter. twice much won as about the as So did we we in previous

And of our in the ended quarter we one that our many quarter had we of in and was first exciting sales most quarter. things first started the that saw this that

sales So the of those length sales. many our cycle days that speaks of being for less XX than to

in only sales in December. of a and late then pre-released those lot Smart was And happened Search October, also,

to in got back, to [ and think We innovation. don't invest that we us sales we've R&D. will for marketing, to different to -- is here And not and need So we allow that going something need grow pay level. because ] in they just at it feed a

to So balance those and to those continue we markets. need investments hit

specifically big we're Javits today, and is and months we my market even Build like distributors. in that, why And being wasn't Conference that a underserved, frankly, a the look now distributors -- at can there become that customer we markets of dominant for that niche efficient player electrical at that are costs radar this acquisition the talking to focus, in is on ago, win try just Center, New York XX to electrical we

are those way us win So for to customers. an narrow new efficient markets

you. Thank closing I remarks. management to to for the would now conference turn like back

are Well, today. those think joining say, impact. for a that. we're science. to that and us markets And their understand exciting thank do who I to is computer time specific for exciting to It's intelligence what customers opportunity very have in understand to needs their things real you, to people and do everybody, I there an for make people artificial this a

We appreciate of you We're all quarter of forward prospects. shareholders. partners course, will May. fiscal about the in our Be support again conference second continued our and We growth which to the well. customers 'XX be look on speaking our call, from ongoing with excited business' our and,

you And Thank concludes for participating. today's this conference call.

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