Edgio (EGIOQ) 5 Nov 212021 Q3 Earnings call transcript

Hello and thank you for joining today’s call and for your patience. The Limelight Networks Q3 2021 Financial Results Conference Call is happening. My name is Victoria, and I will be a coordinator of your call today. [Operator Instructions] I will now hand over to your host, Sameet Sinha from Limelight Networks to begin. Sameet, please go ahead.

Operator. you, Thank Good afternoon. third Limelight’s financial conference joining results quarter for call. you Thank being This website X, days. recorded XXXX, is for and XX our November on today, call archived will approximately be

would covering be will forward-looking statements Safe quickly that call. making by this start remind everyone me Harbor. Let We like on to we the

secular businesses. are should acquired those pro indication from are priorities, operational results our our considered that statements trends, contributions and historical could functionalities, forward-looking from and not strategies, activities performance. acquisition future an product materially Actual contemplated statements results statements, differ Forward-looking statements fact, of and forma as expectations, plans, strictly future of all such our business and not our by reported results as be

risk including XX-K periodic available are For this required and obligation as to discussed as factors Form based update more reports information, our disclaim of on any information by today’s recent Form on in The forward-looking filings, please except and report statements, quarterly XX-Q. call law. any on annual on the to statements most we us our forward-looking to date refer

and discussion Joining review Bob call an Bob results the call EVP President start financial then Improve, initiatives. our Chief will update Officer; of and Expand brief the on our and results Boncel, with will on our Lyons, a Executive today’s Dan guidance. Extend Dan me and today, CFO. and and

to the going Following aspects that, forward. Bob call our discuss strategy will of remainder corporate the of and initiatives use

We now to I turn will will the for over open Bob. Q&A. then call call the

Sameet, you, Thank everyone. welcome, and

EBITDA strong for cost meaningful $XX.X relationships cash flow post-COVID. and extend global performance a quarter cash continue to for to streaming on position, margin Limelight our for grow and At network, our and second this XX%, We confident Revenue Consistent EBITDA have allowed came XX% we free plan in taken ability us nominalization to was market margin the These our it. vision than from quarter-over-quarter, quarter third outlined in sequential the adjusted reversal in our the us expected, adjusted expand As quarter. steps previously the and from XX% improve a patterns margin expansion. quarter as scale we margin, and improve saw a remain and despite growth our gross our of going at and building up up forward. in against revenue, competitive with Summit our solutions. second have gross breakeven million, we was efforts strategy, X% quarter-over-quarter to edge-enabled our more to regain progress Strategy execute client presented August, X.X the

and are plan track to encouraged momentum. with We deliver on remain and traction that initial our on

network focused program operating As on performance costs. our is a reminder, improved quick and

on is margins. program focused program with that growth introducing new gross and on and and revenue increase Expand new is solutions utilization, Our growth existing clients, network focused our Extend edge-enabled

to the not quarter firm of improve and continue important previously our Let performance have and model. [ph] and achievement, the XX. an is top Expand me we remediated we highlight Under load Per-App Highlights data against third-party in rated rated demonstrating Europe. are our has analytics especially Extend this our making third were North our program, discussed great is in Limelight This when globally of listed we the top a progress compared as the improvements year made the when we network. balancing in South framework. cost include, and performance America, to January have Improve Improve, we America proof-point network to This issues

and of XX% completed We have $XX annualized savings. plan million our cost

improved growth and additional identified initiatives. top client our fund scores planned to sentiment global these across points our quarter, our XX. to we quarter-over-quarter pursue opportunities help XX by last continue we’ll have In We this

of company. into XX the we of program supporting close benefits X of and the traffic to due these additional have companies. wins, improvements these one, to us have to in win QX. years meaningfully new gaming clients Tier cost discussed clients. would couple quarter large quarter Expand a largest have the reduce we our third concerns. a than and support who by to operational Previously second, slower albeit from late two of We return Secondly, traffic desired. now expanding large we a quarter, software clients back momentum in third begun of council this our three client ramp existing top began providing ago, include, and Both had a our addition the performance Both Highlights left clients gaming at

may the to client see see not You performance uses algorithms continue growth. allocate we on rapidly based down rebound largest to traffic year-over-year. our traffic recall been but has as we and hoped, do We did that as

address for integral optimize to prioritize intent sport ongoing with discussions them, venues continue this of initiatives. to performance strategic faster. life traffic signed have partner additional remain their the new to will two with and network contracts We we gaining our on With share additional KPIs client, an

by a With the second our top more XX XX than quarter XX% in customers of revenues row, grew year-over-year.

those third value of averaging more ATVs annual two opportunities more than with $X in than and XX contract XX more with customers $XXX,XXX in close have of than We quarter new million.

and plans paying our a leverage the of in logo by expand strong focus of bookings channel growth logos off grown help than and ahead sales on create more times sales our quarter-over-quarter. with us is to XX%, new growth organization. saw more have are We in including X team quarter our our new to We here pipeline capacity

his configurable evolution program, key company Extend that edge we to LayerX. our network in network key solutions application. best-in-class As this with server outperformed pleased This that Strategy Session, designed our side deliver optimizations supports edge and is to LayerX edge guarantee for first blockers. browser closing our onboarding. and a on to rendering, of announce self-service be acquisition us utilizes and caching us the our technology Technology network, AppOps gives founder extend providers software their and Ajay edge best and a EdgeXtend and acquisition to applications global our a has highly taking developers protection. the are include, and the This is And are CDN building team, edge development our all element chart. performance LayerX platform. outcome our joined private tiers Officer provisioning this and initiative have Limelight to during talented products integrated portfolio productivity product the or Highlights solution all operations into as highlighted also over helps serverless ability has who a of Kapur, from edge-enabled performance, brings control our the and JavaScript across of product the quarter. performance, critical strategy excited a LayerX to service within buyer company. from now platform technology, in world’s the the third to Chief This with we acquisition plans

in and had the global world front. on December. of enabled us LayerX multibillion demonstrated combination news to AppOps November this tuned The more be We launching quickly position and edge application security our come Limelight’s value. class in developer and edge dollar for market. compelling and assets network exciting Stay solutions new to network These competitor with a solutions will be announcing and

launched had and the with to resources said, ranked time. billion industry logo of The to top in During mattress much leader, with renewed are win we work the a being we of $X quarter, this pipeline done. a tripled retailer, the of Overall, retail number happy a bank team us. U.S. short global a a giant. with remains large new and business is We a be adding very the travel sites the the accelerate has made we are progress That momentum. growing such site

focused and opportunity building on the significant and recent progress steadfast We our remain us. of front in are on

to I to to financials. continued are value together thank company quarter a shareholders to of. culture to building unmatched that the our third we inspires call over investors time, will can turn At a We returning and value all for Dan? employees. be this Dan support committed our and the our building our company proud We look forward report creating for clients,

was Revenue growth a the close on Bob. XX% of quarter for September XXXX. second third the $XX.X million, million LayerX from based of Thanks, the than $X quarter date. less contributed

our Bob traffic gains operational more is with clients the to noted, success to believe and us position improvements that share and expanded several as As the we implemented more the market months released. new content well client in over and participate alignment most the matter metrics our last team, of

are taking ramp revenue long-term. temporary we are increasing have we grow how couple to and confident the ability traffic headwinds with we clients over of we are actions While our fast our the profitable back a

approximately Cash for Our of top to in accounted revenue, year. compared expanded the XX.X% from gross XX% margins XX.X% and quarter revenue to total cuts. cash costs to due transition-related second XX quarter third legal growth third year-over-year. or in XX% million acquisition clients totaled Restructuring announced and and million, $X previously million almost Total decrease of expenses were operating cost $XX.X a quarter. and XX% costs $X last

realize in management improved costs. anticipated all actions the this of March from year, to taken the savings as We as have well started operating of

resulted our slightly cost The The for the of to accounts. marketable DSO was be our capital quarter, well restructuring decrease structure. fourth XX Cash from related for timing end June. million and and adjusted of to acquisition second in a meaningful the above $X.X in at payments the of $XX.X at as expect and in the opportunities improvements increase a received, million, paid $XX accounts days, to as $X.X as LayerX LayerX aforementioned evaluate charges receivables to we consolidated We breakeven transition-related approximately quarter the sequential EBITDA for the million of compared to $X days in to optimize totaled increase adding securities operational end million. and continue is million of XX $XX further quarter. performance We to receivable million expenditures.

guidance million XX the our revenue to This million our With balance to are a accordingly, revenue to adjusted investments and $X.XX days. guidance, based a and million we likely the represents quarter year range On launched new loss million million forecasts likely our to as $X.XX. year $XXX organic collected from have view our anticipate their few the $X.X feel and million year-over-year We accordingly. to within are EBITDA range quarter to within return sales to to expected $XXX $XX a be aligns of to basis million and and from loss to range represents as range million of to larger falls and prudent we traffic team. record highly we what from consensus believe significant guidance next On seeing $XXX it million with products the of EPS adjust XX to to for from This in portion rebuilding a full of their for existing to normalize adjusted most $XX $XX accelerating and already we months, guidance $XX on fourth patterns, $XX usual our clients and traction post-COVID DSO receivable outcome. range content over the $XXX following; to view also a Limelight full to per non-GAAP to $XX of adjusted million, of products us $X.XX growth. the revenue days

expanding quarter quarter view includes a the believe different. this will and team. variances, diversification Fourth community of seasonality especially fourth the we more few seasonally risks, we thoughtful investment our dynamics to timing conservative in than But capture and EBITDA guidance, a handicapping be to in quarter reflect traction adjusting adjustment as quarter. better sales events revenue post-COVID the patterns. traffic progress of efforts understand expected one the and the business for third year has the strongest our no adjusted be the of helping year is are gain traffic and ramps On Our our

EdgeXtend, is in of Given our and product in we plan offsetting expansion interest third our with feel quarter, our best plans improved cost shareholders December, sales new accelerate November XXX% our our to logo and bookings in it launches new demonstrated the with ahead saving initiatives. of traction growth as our success

and and on build there All couple the $X.X to and and which legal in housekeeping non of fees acquisition $X.X G&A, of expenses. related XXXX. nature million items, in from recurrent of this is foundation A lays restructuring transition-related million separate a solid is in

acquisition the of and closed we impact. part Second, in September of compensation LayerX their

end XXX of purposes, modeling million RSUs, LayerX’s outstanding you the shares and shares for about with based the should at XXXX. XXX end So current on assumptions outstanding year expect performance we million based for

We continue close, XXXX. to the turn Bob. $XX September million $XX from will revenue With that, back call expect to year for LayerX approximately to million to I in our about its contribute the

Thanks, Dan.

we we We market. the soon LayerX, are existing in be seeing that delivery are and With the content expanding into our business Limelight and our and unparalleled extended solutions. margins. of will along LayerX, SaaS of superior secular unit performance leverage a with This enabled growth security to be offering leading comprehensive products of CDN with application for strengths AppOps economics tools simplifies provider edge buyers for the integrated and outcome operations and set

While closed are both few seeing a across just synergies weeks acquisition we the we companies. of LayerX material back, short

portfolio part We similar as continue sense for from look of would a our assets to make infrastructure. our that and benefit

and significant our that network underutilized put with our an capacity work we can have shareholders. customers to We for

will and we’ll Operator, please to for our the proposition value lines session. open question-and-answer look that and the balance a platform. capital assets have continue We sheet for With to access that, bolster and strong

question Raymond Louthan [Operator Instructions] from you. Thank Our Frank, go James. comes please ahead. first Frank from

Your is open. line

Great. Thank you.

Just that you’ve a on business get think to been of then to you’ll some when And questions. to starts LayerX working base when and traction. customer talk and couple similarly, selling revenue? what about the driving Thanks. salesforce with you of think start us turnaround you with new little quick bit see integrated fully the helping begins One,

far Yeah. later, the Frank. pretty I’ll integration. a with seamless Thanks, was really It start integration. as as

the quoting point. really, a of We I’m We’re through before deal, process, fully lot the thinking integrated almost at through spent time that. we this --

And so acquisition and the technology the and most around engineering product and of revolves -- side. is

sorted largely out. and fully is that so and CTO everything been he’s has our And integrated. Ajay that now normalized team

pretty So they this were wouldn’t even the at office. know here much you the point you in -- difference if

performance there. in talked as things, to paired we two to, earlier building lack sales given we had historically. far more wanted get year, fact we’d financial bit productivity we would team, one, that we build And And -- products that different a the that what drive sell sales As a and with really hired to the of than we challenges had we up of the back about profile thought little we a secondarily, wanted. back that other to the performance then do

that We’ve sell of nice portfolio launched, been over the quota with the, other we carrying as origin well a accordingly. of hiring so, sales things And like the EdgeXtend averaging been have LayerX, we’ve as really a QX some for to reps. hire and we for things about a week

really, so that full that we in And capacity a that bit little of so is success that quarter, that, year. run we having get the decided so year we with rate accelerate much this the can would goal next were we

having we’re So good pretty there. success

much. very you Thank Great. Right.

you, Thank Frank.

Van Rhee Our go from Jeff next question from comes Please Craig-Hallum. ahead.

from Great. Thanks. Couple me on Congrats the quarter. guys.

reaction the the Just to customers your the on in that about mean, -- interested I in I’m seen while you’re LayerX, heard in field field you’ve strategy. anecdotal AppOps

that, anecdotal that out are worth at this point? calling any Just

their found Google Jeff. speed we secondarily a we you? we on that which We through we immediate is current recent and customer, can digital And problem, their AppOps measured the that We conversation, I’ll their at is with a them got offsite. we the those. We with have we can they Not example a full had exploring was them days, How into compliant a banks, XX XX went who they’re we that what their the a through think talked meeting most cool. we’ve of with be performance of about as and competitors day was, full the CESO, the feedback doing. end to plenty one, and get customer an well, one always and websites to strategy. within XX No. CTO this this really We give transformation. are -- impact. our help top about. category could and really Monday days of a today. not you their that, We we CIO we weren’t And one, spent with was talked whole went Yeah. Hey, had and

the So and we few impact we do really have taking this some the from was, it for then, digital years, our actually think approach right conversation as well, that an that can the next obviously, over approach outcome immediately, footprint, the things transformed you are guys we is us.

always And excited so, we’re conversations. types those continue of to

helpful. That’s

of overall the off. to progress bleeding it’s mean, team, side, not here On pivot I out pretty and common a sales such new customers that… steadily count see and the sales additions Is new was the we’re quick

Yeah.

be to about Why the quickly more not is what’s just base and successful clear new it? that at terms or in acquired bit in primarily business a LayerX broacher? is changed point the talk … momentum there? they’re of this that pipe And just new

Yeah.

think a I couple things.

growing I actually small think rapidly, in U.S. largely pretty and was although one LayerX albeit the numbers

so, what desirable take their around hot and more and was do product, very that. able is And build we’ve which essentially been to capacity

some cases, a we have the touch. didn’t our other Asia-Pac, is have they’ve in always by has, this like product the it. with that’s have new So to job, of doing sales some And an regions, and where we team In one to the run build of phenomenal areas up taken capacity. way, we

this that, combination for in the places in process we able really of, a kind the arm we’ve pretty do to product where of places then already had the it’s really we’re shot that building in a have need are nice it’s more capacity, so we And place, and good in where pretty to have quickly.

brought expanding then in they of going forward. with a us little a that momentum it’s that on them momentum So bit and

lot work lot talked to a describe were those people of a Great. AppOps… and who home The they go buyer, they the that based about you you were, what find outcome did and the strategy that

Yeah.

offering you sort ability the be the feedback pipeline what … pivot targeted progress have there? with here perfect to the To had of to those people. any those extent efforts customers, coming in add would for sales

Yeah.

done leads of and those create and progress to you’re exactly it’s think, and I build work gen We’ve really understanding that. to we’re that. way that’s stage than, really identify it’s is, track other so your customers how you it to really, target a going build hard this pipeline seeing pipeline, the and how at demand because do the how and lot you

pretty tell, it’s best expect. growing rapidly more growing from rate to if we is the couple productivity that. into take from a at going to and translates for can pipeline rates see that we and higher close It’s Our us quarters

start as messaging, you’ll the forth. us, next do kind to kind soon refresh we’ll a thing probably brand that of speaks of to that week, thing refreshing see branding to the brand things and other The we’re customer, that starting you’ll see is and lot of as really so

And right so all I’m the getting things, doing the pretty we’re right confident we’re traction.

behind next see Let’s out quarters leading the thesis. some all see that how the we but and that, supporting our are numbers few indicators panned put

the margins? any a XXXX, Dan, can maybe and of QX on put gross and around, the last just revenue? you bounds One in extent And to both just then think initial thoughts number XX, and about share some how you Yeah. XXXX do questions, then the willing you’re out QX

XXXX yet. just Yeah. get quite We won’t revenue into

process out update QX come the once have now an and through budgeting we we’ll with We’re going still right numbers.

see in expansion expect As our sequentially from to gross for margins QX, we margins continued QX. as far

We sequential margins to XXX couple points from have expect at QX to expansion QX least QX. basis of from another we basis and good points XXX over QX a in really

Okay. appreciate. Great. Thanks, I guys.

a type month for the of in to in their we I’ll claim, you half the out Gartner solution. last in saw Hey, from Jeff. buyer. which own come same over point market give an last this to on buyers question report they is outcome analysis did One the are and the also looking more basically outcome Interestingly, regards data the came that

a was great for that So strategy well. as validation

Yeah. Appreciate it.

question. for your Thank Okay. you, Jeff, Perfect.

will We Lake Eric, Martinuzzi move on ahead. now Street. from to go Eric please

-- I had headcount I the like pronounce here. -- guess change regarding you a way the I the that. question just Yeah. in the

we but had XX between employees. September, we So restructuring, if the Is we and that the March to go June the out then to with and of new end arrivals. XX the back go and help old sales of gone sales the of the understand need end XX said the bulk employees of don’t me with down reps. XX the in new reps I kind department-by-department,

Yeah.

the the LayerX is with onboard. So folks expansion quarter-over-quarter the -- with coming new

acquisition quarter as the again, that of in that up, with kind There QX, or we over next when And so, as so, And salesforce addition of only ramping QX, attrition over pace continued go. some person things did in well but about one the was as mentioned, it at week a we months. people we’re the now increasing XX back we’re, Bob approximately let was of the well, not settled out. then hiring as per last LayerX as folks, again the couple our

side so, performance of the LayerX of now the are as well launch expected of And good beta and CDN where pleased. seem folks at the as right we next weeks out that over on product the in going testing where very our really and couple feel that’s that things, with we’re about our

reaction that ramping up to in to broader the the market And released we’re of that. advance good really sales expecting it gets once so a we’re folks so and

as quickly thought. by to Okay. adjusted $XX.X then the revenue customers two $X.X follow of same the I the The revenue with come declines didn’t I sounds full bulk by that and on million at that then the forecast. we They just EBITDA, million. down the the that, the vigor on million guidance you and like, gave, $X.X about the the side, had explain just if the we midpoint not back coming large originally are EBITDA? back on on look Does then that hey, as want And its about revision, it adjusted year

Yeah.

You got that right.

to XX than we’ve we encouraged the quicker other and continue two see very highlighted XX But ramp are I we’ve the slower we’re -- top here expected. rate two think, in a of that experienced historically. the at very by what customers a you expanding also past, quick that those than

LayerX And that our so, the at we’re we’re to going and strategic doing things some other with not EdgeXtend, other continued concentration diversify partner on able that the offering we of the same and had to we’re we’re point, those the customers the with two, to other with over acquisition diversify but hand, product decrease but expect one that only into well risk years. we’ve happy as

like. Okay. Yeah. comes And strongly just I’ll both there. is had risk definitely of biggest have timing kind back the speaks than that. with is it would add on I coming it to as that. goes a example good add Hey, back clients Eric. know, not we both coming It to we that. be us. we said just of I of and It’s and Hi. to have conversations last to what those so number it and of Yeah. bullish faster back. this I patient I’ve will a think very And you quarter, is But

but better impact. XX And was employees. of also the was say my right. XX adjusted original the to the impact, the new then we EBITDA, revenue to have with I All we employees. headcount to the question get want addition headcount obviously, way ask Maybe on around LayerX a

be would delta the that say to that adds? is sale So

bit than the in XXs. Yeah. It a was that, little it’s higher

our as up, you add that adjusted QX, we again, But, percentage through first EBITDA. salespeople the had won’t up amount it the with QX, down and an folks back sales flow-through ramp the it QX mid-teens, have ramp flow-through. opportunity incremental being significant was to sales with will a XX% have those And into in of get we from but flow-through we that that an -- don’t flow-through. utilization But still folks, in And significant a of utilization the that year the yeah, flow-through. of of roughly sales. is and to creeping that in it the now the have -- in as that and have half we XX% where And so, the revenue will -- that but that flow-through, difference up we that significant feel said, lower-teens increase we primarily like

questions. taking for my Thanks

Thank you.

Eric. you, Thank

question comes please next Breen William James, James go from Our Blair. ahead. from

is line Your open.

Thanks. Yeah.

Just confidence guidance, next basis That sort the $XX around you there would of in can that improving over sort margin in get for -- improving What cost quarter another number be from up points the the EBITDA from sort to side range. in the guidance fourth to quarters the perspective? mid-teens, the that margins gives and XXX of implied in and $X -- you year keeping million, go up the you the continue implied the full ramp as another on million Thanks. question of EBITDA several leverage topline cost if the somewhere grows?

Yeah.

Thanks ahead, for the -- go Bob.

Yeah.

three in opportunities the So more conversation quarter. let identified and cost savings savings the to productively. me just to we back run had last frame up the We cost and I’ll run it company take

largely this improve our how that more utilization. the that architecture technology improve in The past much on $XX higher number the and that’s operational, a we But can more to overall was are our improve that actually year. We capturing little the and think related takes first million potential time. we

to got an make You’ve investment.

in stuff the field. put to got You’ve

going thought of and so almost salespeople. on, better line And those slower those actually the plan a much how they identified really a that capture continue we of things year answer more we We had savings focused We -- projects just a into quarters as that’s ability get a with It’s that’s for to in confident But ramp for savings. initially bit quality year. to to future. in little time. we our we in that the opportunity more had go next we’re salespeople take those to have get number next see

take So advantage we of decided to that.

be for couple to in thanks that a XXX And point working continued margin expansion points quarter-over-quarter. Yeah. that gross

my to going Now you? to next be point it’s

Yeah.

Sorry. Gross and adjusted EBITDA? margin

do Yeah. confident… feel Yeah. We

Yeah.

Yeah. I do was feel going to say, we confident…

Right.

continue in …with will your the the grow, to confidence in quarter fact, in reasons. other progress the will of X wins next the captured and quarter we quarter for about probably from only we And give well. question, of the QX, that then, captured continue as a weeks, piece -- about months And had this few Tier we of only which a two same two they last us LayerX, month those. that course,

three all of three the material, and million it things range full benefit in $XX QX are So $X could those of those anywhere million very the get to all we in QX. from which

adjusted margin half sequentially it, to coming other XXX up, and about quarter leveraging margins the from half points line of basis third EBITDA the and R&D? if quarter, So sales go G&A, that’s the fourth and marketing gross from call from is coming

that’s think I right.

you. Thank Great. Okay.

Thank you.

we’ll Perfect. now And Colby Thank ahead. you, on to and move Colby, from Co. please Cowen go Synesael James.

you us to Thanks. pretty Great. terms build start on? secondly, potential which in impact it expand as I at, remind you’re to new it could how could you wondering launch M&A active targets more things an to And of relates that November then, remain think was like intending targets products sounds revenue? if in looking you’re or the the to of or types those that in have do you actually December, just looking to and quickly

on have And which to probably where one going more EBITDA, more platform first, first that. translates of we can areas. three take now, network a we’re strategy. focus that that clear thesis margin, that take could improve and our to our advantage And M&A, we where into our on real very particularly gross strategy estate our platform, edge I’ll we of sense the focus have we’re accelerate with So scale, going is essentially, we a

next in saying also stronger is that security. organic two some be area. have with month we about first and or we the story you’ll I things But there. see much been security releases would inquisitive a so not in The shy need

opportunity Secondarily, point-to-point we think based networking, there’s advantage latent a take big capacity. networking software in to our of

are in So advantage advantage we’re scale then focused given our And size and acquisitive anywhere three business we’re our market. years cost we really on. drive in there. a the of have can scale, to Those third, the that really take

releases, December, releases you’ll see far the very As the the ramps as in similar. that thematically and November,

product a and is But in working that’s is that network. production it seamlessly. already ties with in this we actually November the releases One the have on of that today. that focused the It’s put LayerXX we really release our together product

part same of you package, all will. it’s if the So

not what then already features tools you see better of huge doing more is will that’s doing. some what December and anything secondarily in security a and So it’s And new, we’re some January. developer and of that’s well and version around just we’re as that really really stuff

those, our already I and ramping why think ramp for the it that’s doing salespeople. we’re we’re

have as seeing quarters from so we had which the as expect only today. get products We’re success new and forward many than much is better saw we have go to logo the we that already, you wins, we given better

in features It Network, the November selling. already are gets point to effectively Limelight LayerX are products which since these December new product the to your in since

with Your those. customers are familiar what already with you’re doing

You’re if expecting terms the in to success? quickly upsell, of will very be you be to

growth, supports Yeah. all And we’re client that Yeah. conversations, we’re thesis. pipeline yeah. Exactly. the -- indicators, seeing in leading

you. Thank Okay.

our from And Northland ahead. Instructions] Please [Operator Latimore Capital. Colby. next you, Mike question go comes Thank from

Hi. percentage behalf a contribute Mike top much you Aditya customers overall of is did five of me This as Latimore. how your revenue? on tell Could

Yeah. five. We don’t break the top out

top ago, year-over-year. As that we our a versus XX% we’re of consistent required and those quarter. we have mentioned, do to remain over our And have, filings and customers in roughly that year SEC XX% those disclose are couple a than as XX XX% is

to grow right. that each All other as customers on expect XX what your timeframe when XX you to well? you two regarding customers catch XX% the percentage the expect And at your are growing do revenue customers XX of revenue, up, at other two would

for say is, do were have potential anxious so that. to that and would grow both sure, I rate, they at we the to What

enough case, a I to heavily COVID created content rely largely lot going season. new content contingent think be coming on one it’s in releases the -- wasn’t out. during there still and They on of

is use be to with bit up work, going were So be I really we that. what fact factor then last we’re little more in you back, just in second with were have a coming but to one that, than the asserting was, with a months, you know a events, that’s going guys had live of the the six And big was, keep word trust with They’re there. that for that we reasons. trying time kind just patient it’s doing remarkable, back good done conversation them job doing to early good the offset stages but obvious

So we’re confident, that matter building It’s of continuing and doing a just to grow. all the things. right trust back

So, that’s irresponsible I say so, of we’re I’d do to -- but love year, for. kind it’s those hard to have be next but that a what crystal definitely, shooting cases. ball on to both would of

All Right. you. Fine. Thank right.

We remarks. no for I Bob Thank questions. pass have Instructions] Mike. over you, final will currently [Operator Lyons now to further

forward Okay. you, and today. look investors. everyone, for to and thank our We us Thank communication with you, our enhancing analysts communicating progress and Operator, joining

the joining at details We presenting investor be the on several and in Investor for section found our us of conferences website. Relations be quarter Thanks can fourth will today.