Everbridge (EVBG) 25 Feb 222021 Q4 Earnings call transcript

00:04 Good day and welcome to the Everbridge Fourth Quarter 2021 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded. 00:34 I would now like to turn the conference over to Patrick Brickley. ahead. go Please

recorded With events Officer at a be of on our Vernon Irvin afternoon This website today's for today's the Good we our This to website earnings can company of ir.everbridge.com. limited accessed Chief future earnings Revenue as release, Factors of our such our perspective such Forms today's those President, any date. during differences our cause Executive today and over market of the uncertainties. update the results outlook. Investor During turn let representative subsequent on should of financial to Everbridge's forward-looking review that the our Patrick materially call, up measures, not Interim may On call is Co-CEO. and call risks at financial GAAP, XX:XX as will on call we on reflects is are on with provided Interim this fourth Q&A. details call in teleconference in statements to more not XX:XX and include, and is the call, but being provide that any our highlights quarter certain as conclusion Also, press of call will and will we views which Financial explicitly and considered XX:XX call, and I President measures only or After event. the financial Vernon. obligation disclaim in and be Executive We call company's statements the Relations forward-looking open to XXXX. today's or closed, the a Everbridge the any of and actual reconciliation filings me our that, conference The and Brickley, will results XX:XX statements. Co-CEO. refer our from me the Thanks. IR Vice might replay our welcome of XX-K differ and Vice subsequent then, Chief non-GAAP will full today's discussed available certain With to XX-Q to included is release. other will Officer well regarding we as section performance financial the SEC, issued the Vernon information business described of be involve non-GAAP projections year make

of joining Thank today. XX:XX you, all and to thanks us you for Patrick

our discussing our better to I'd multi-billion guidance in strategy to opportunity $X.X quarter a solid meaningfully meet drive focus million. as and Everbridge while EBITDA strategy, company go-to-market flows. and our in management while know, team million, I for a be in search fourth and and event revenue As sustainable our taking foundation our a operations have cash Board but on also and you outline and critical organizations we're co-CEOs like efficiency XXXX these our the the $XXX our over reported access and results, are expediency. of Since expanding we growth formal and increase up that ability adjusted fourth strong XXXX engaged positive our to we're ensure built how of are discuss improvements delivered long-term value growth deliver strategic generate solid to direction, a execution conducted we profitable Everbridge and review conducts Looking to refine to improve the shareholders. revenue that XX% at has and for XX:XX profitability of With QX we in in for talent as XX:XX execution. CEO. a today's leader We've call, actions our to order optimizing Patrick We'll Patrick acting pursuing. been holistic quarter December, firm, and line I taking results for not dollar a executive search inform

XXXX, have refer that QX discuss the to recent liked For CEM. up into make XXXX, drive These to prior in million, to that revenue we're we're taking actions XX:XX we dive XXXX. million, are by into leverage currently the for our not in our drive the I'll few solid strong ability reflecting to full to we as management numbers strong However, $XX of these our execution minutes was XX% XX% that adjusted $XXX further year driven up from from I before elements quarter EBITDA as results, year a was critical would event model. another and headline address part in and

size net revenue in As a growth. from comprehensive in and to conducted my of will our from and the decisive in provide with international to identified flow. an CEM having acquisitions The in are review, and and XXXX on for I root the be for together of positive adverse to an incomplete strategy trade only to attractive Board our acquired beginning wins which with specific of by XXXX, business, which our provide new review handset warning December us the sustainable pushed review technologies related and but cash long-term issues. trajectory the sell increased team actions discuss elements, growth, to the result a integrations in overall term impact out off will solutions highlighted Patrick greater these performance barrier organization. improved We profitability as I business, cross not upsell these changes our power go-to-market travel address number strategy relates public taking detail, deal long-term we're well XX:XX sales in certain operations. as will smaller including Informed and that stronger completed growth impacts of simplify the causes management XX:XX but solution complexity demand will first,

be efforts. been for our complete a customers capabilities into organization for However, simplifying our year, products to execute our new result to platform, has of this CEM our complicated technological complexity product line customer advantage enterprise our have businesses As integration on on and take go-to-market strategy. and these and Within and and to challenges we'll personas. focusing our our expand integration adopt on solutions harder focus CEM land produce have integrating XX:XX incremental sales created that key, sales it

timelines you In in review asset, addition, are platform. any as with to and the years. more us XX:XX team we'll the that continued contraction and marketplace. in to to our However, involved a we well will be international market as we've be are in well improve de-emphasizing M&A allow countrywide we previously network These our integrated combination and our warning smaller enterprise to world, continue over strategy are estimated. multiple let's U.S. our execution and couple messaging us This the international maturation define that of than a near-term public simplify industry for issues Governments explain more currently expect the as our chosen deals be this said, our notification main and remind that are by we year. win wins of Both leading solutions the contractions deals rates on to did countries public recent that opportunity. medium-size three these as of industry-leading the integrated around the wins implementation core, warning public sell country to deals our in countrywide suggest activity, coupled competitors. our compared secondary size warning international side public expand public highlighted of effects safety XX:XX robust That will and seeing solutions. and effectively more as greatest warning whole the a of actions states, of State Federal the past that I integration mass The XX:XX impact. warning public being should Agencies product CEM we're long-dated So as enable seen meaningful the focus large further expected taking successfully

other risk apply going IoT enterprise to XX:XX CEM unique management deemphasize care the time. we Chief solves travel done wins problems for XXX work XXXX. we to extend process as secured our the management, the and already CNO our point integration Security people concerns. products and focus needs land from drive public communication revenue Last start solutions. the our operations single now dealing we M&A into risk costs. and accelerating small CIOs allowing to rates simplify employee solutions for CIOs to several acquired and our penetrate. four driving enterprise XX:XX In both on persona significantly specific increased resilience is are differentiated targeting solutions Finally, Risk CEM multiply duty IT products. a the acquisitions, of leverage XX:XX and XX:XX we're assets strategic across win create in acquired to will we race to help the that inside short-term, to and success our network differentiation, CEM opportunities simplifying over and (ph) Chief with dozen new integrations platform, in on solution, These CEM our technology well for non-strategic to towards a it's this on Next, product (ph). a we're travel higher For acquired and point government a integrate competitive protect product security facilities. as that their offerings, CEM. digital moving CFO region the opportunity and efforts of First, simplification leading in integrations focus resilience Officers individual example, Officers product package to for digital industry buyer productivity Each prioritizing for our pausing market, go-to-market expect strategic a however, CEM as technologies contributed To serves some are into headwind CEM business effects once continue development accelerating large and focus to lower includes warning we we've existing drive expand and and IoT instead greater for assets, people to components comes material focus to

Recent While line more go The meaningfully is leader and drive Leidos. been motion XX:XX integration XXXX desire better solutions attractive, Patrick to duty leverage expect safe disappointing, sustainable PTC biomedical throughout that keep top that such to increasing detail. be Virginia-based businesses we focus would critical outlook, as never supply product chain billion U.S. our safe are systems Everbridge these critical will discuss and the important you believe SAIC. growth impact by and and headwinds on CEM revenue are productive New around factors responding the events Everbridge. services. a As Everbridge mission Forming situations research integration will critical organizations has our running. engineering important. our to disruption ongoing Defense line to ensure to more in which current to operations. XX:XX the causes and synagogue, their events simplifying those that market include about people these enterprise more to of that in Overall, most strategic attacks crisis and defense to our impacting XX:XX for So fourth X continued CEM In XXXX, company global more turning that in around new and software resilience assets that includes continue Aerospace and with that customers and wildfires detail. Infotech recent their selected a the criminals on operational highlight private core most global both rely and threats and in over deals in Leidos Organizations Ukraine, in the our XX mission the technical world Leader and were customers ongoing West we growth Coast strategic involved in fourth include XX:XX quarters, continues provides most cyber-attacks aviation quarter and our public opportunities customers the of assets times Texas on momentum care in global saw a talk let's world. little profitable. is

American Everbridge their a team them. examples. by the XX:XX As because applying manufacturers its XXX of largest selected South few a X,XXX just of crisis store the leading Korea between and its customer, manufactured, to industry-leading management situational and before, its crisis. to value also CEM locations to a response accelerate assets by to in selected emergency plus CEM new business disruptions and moving our marketplace awareness The in is online members, name management after select was bedding and efforts [indiscernible] bedding bolster derived impacting continuity Leidos CEM offerings during

among existing customers In U.S. We become and customers, records also global continue were Financial the Treasury track with use to expanded pharmaceutical commitment who relationships Group multiple their expanding to customers. bank Everbridge Department of of of addition, CEM largest in to Everbridge a implementation. increase including the RBC Canada, CEM leader, XX:XX their

as XX we upgraded is our These will Treasury, have have all simplifying messaging for quarter, will will are opportunities growth federal solution. our significant localized with the Europe rates presence expand the and quarter, this well picture a win high XXXX. Specifically, winning Espana like more globe. operating Everbridge intelligence within in network and we year we agencies robust the as we're strategy, insurer area a go-to-market to solutions third Spain success such treasury the a Everbridge, and of countries than the CEM Singapore, which expand industry-leading XX:XX since we represent this amount city. well As with of in result of fourth we then global the notification with our presence win risk land the Stockholm as more and opportunities recall, our based in In won success deal that mass warning that really, one as continue in believe public like to employers top as continue XX:XX our full in well using in and We of common XX QX smaller effect order growing we've Spain countries continuation expect public a and you'll in New we of our expand the Department locations. packaging, in in seen announced in transactions York would warning, deals We're a believe Norway where all MAPFRE already selected resulting CEM public to U.S. Sweden, slowdown is warning in U.S. sizes, warning of countrywide effect repeating the positioned to warning network as public platform. see revenue around a opportunities Florida, from public the

several of local in London, the including year, and QX, Following Warning we cities, our successful enterprise deployment National Systems in throughout government and customers Kingdom in secured Public last the United banking India, giants with as network and Bristol, India listed Bajaj public well contracts In states NASDAQ digital to warning effect led global like Cardiff. the Financial. in EXL analytics from XX:XX as four contracts with solutions country,

optimistic added our from the smaller enormous driving fourth Our X,XXX XX:XX with the globally customers. future. X,XXX turning specific XX,XXX in wins we financial net Now powerful countrywide company warning effect can from that some new the business These with network locations. in and more across even we in examples quarter insurance metrics to services now and expand with are the business XXX fourth quarter. over employees and why year customers We public remain value it, and enterprise illustrations, strategic

number XX% platform, selected As -- to to were either total or we're I mentioned CEM customers selected our customers expanded ago. that's bringing the up a year XXX, of XX CEM from

XX:XX XX% as new Contributing and XX year, the gross to deals worth transactions ago. continued perspective, sales $XXX,XXX. our of applications, a well above than that ASP our per resulting we again demand for our this a to from came last trailing growth tying large performance over ASP mass $XXX,XXX record see product four QX, mix year momentum more our with new Our newer from continue quarters year as products, XX-month in as were a in core notification. were From

and to year compared quarter business abroad presence we as the at around world. of win ago, home in and both region XX% the major was mix XX% our revenue international Our we every expand continue to

XX:XX always, but continues corporate, overall consistent metrics Our quarterly vaccine XX% corporate government growth reflecting from with As X% use growth. that remind healthcare, from countrywide trend cases. and with in remain XX% longer-term state strong business this relatively we increasing can revenue that mix post our market fluctuate, by local, from to and vertical reflect

X.X year, our the a For and scale, leadership. interactions record our applications market demonstrating critical managed billion resiliency

market fourth core were by So strategic quarter our continued overall, of the driven results CEM. of financial success strong,

not originally of aspects some were are there business, performing However, they're our expected. as

rapidly is negatively as immediate current core We've integrate time experienced implementation strategic introduced pause to actions portfolio ASP business are XXXX. This performance. identify taking and by our reduce lowering impacted longer influencing complexity streamline, M&A, public I conducted enterprise complexities expanding material outlook coupled review, for our with revenue and our warning XX:XX discussed. and the Specifically our go-to-market issues

and disruption, strongly to this and me flow. focus with call in guidance for for create turn we near-term the market positive and over sustainable more cash on Patrick? to details believe some XX:XX increase operational will While leadership actions will QX these allow our drive Now results, our XXXX. technologies, with profitability that financial attractive, in Patrick our growth meaningful our differentiated revenue

XX:XX Thanks, Vernon.

our for work initiatives on focus in place the the team guidance. management optimizing are million we potential XX:XX As which estimate simplification to we approach public our our strategic year, and headwinds. very and being of CEM is on are a on growth warning $XX and are Currently, thoughtful the important said, this on reflected integration Board is total in revenue Vernon to alignment This opportunity. through on company impact short-term we the and in putting

and While the the are attractive, sustainable, these our to bit revenue down long-term ultimately will a for growth Let profitable me this deliver XX:XX enable actions shareholders. disruptive break believe more. we short-term, value this company in

and First, with market. the as we of we volume XXXX now M&A the XXXX, discussed of our technologies in and set broadest offer in deepest

our products that At certain half are we warning don't focus first to same office work of However, fit these de-emphasize year. sales created headwinds to in accelerating focus and public seen our for are non-strategic this this using Removing the into additions cleanly growth. integration will go-to-market time, CEM be areas. complexity obstacles have the business, and smaller the product, back XX:XX these in that by headwinds opportunity

previous they be standalone headwind not trends $XX to months primary as countrywide which was market implementation of sellers other overall the $XX our as expectations. market in based well on revenue. our certain do impact million in distraction some couple XXXX work Second, XXXX We the combined performance, the at products these of our done preliminary productivity. focus on to where the headwind impact additional for in and warning revenue, are timelines and that is these to in we've considered QX elongated our pricing from sales XX:XX recent expect deliver clarity of public our versus While negatively last roughly some year. factors is This we estimate million in guidance

We this over the adjusted are to I'm building on will year. decisive enable well these full XX:XX a EBITDA of for these guidance much quarter the a our actions dollar actions on areas both year. first sustainable also as and with long-term a focus margin to At taking two summarize that more me let in same this time, in backdrop, strong to for address the profitable basis quarters. growth. XXXX, confident With us next basis as us leverage should beyond the margin position and on increase few will result be be meaningful

anticipate to XXXX We XX% million, For in be representing year, from the representing the will million, margin revenue and anticipate in full EBITDA $XX to XX%. we of to EBITDA $XX $XXX of an million tripling the range initial X%. adjusted to range adjusted $XXX of growth be of million

we release negative be For representing shares this above $XX.X million reflecting or of outstanding. non-GAAP base. XXX%, XX:XX gross customer quarter based and in EBITDA existing by today. at quarter, and the $XXX,XXX demand between million. guidance, loss track of that million. we was and GAAP up will non-GAAP important share we open million business I between $X.X within negative discussing $XX QX and $XXX quarter of loss from per revenue provided diluted million million, We non-GAAP to milestones negative QX improving statement and XX:XX with QX with ago XX% sequentially negative and corresponding negative was we Adjusted timing, a Our Unless $X.X from the For reflected first a for metrics our will earnings year XX% issued XX:XX margin are $X.X and the $X.X me net anticipate warning XXX the of Before revenue and income $X.XX anticipate Everbridge net GAAP quickly to revenue full $XX growth of weighted increased continues be and our $X.XX run reflecting been many share. income up margin year XX:XX $X.XX One and through million, implementation. million basis, the Due was between impact of average adjusted revenue million, to XX%. number a otherwise to performance. a public additional a itself in we a basis, of or about guidance. to between for XXXX, to a solid million leverage points to EBITDA indicated, to year in continued expect negative a satisfaction million total between be net expect our non-GAAP was anticipate recognize per On rate gross on deals on upfront customer the QX. reconciliation $XX.X We XX%. is has expand loss to in basis note recap XX%, million We with nearly loss of technology or $XX.X revenue $XX.X almost while combined a net of upon let between earlier $X.X XX:XX full $X.XX implementation public completed $XXX retention increased for call revenue our as Q&A, net QX this down scales. warning first measures recognized million

increase year, the EBITDA XXXX. adjusted from of $XX.X an grew for to XX% Finally, million

said increase are significantly efficiencies XXXX to expect realized. profitability we As as in I earlier,

currently offset with on of organic cash restricted consistent investment We Vernon nearly Our healthy. balance reflecting XXXX, a cash significant sheet that From equivalents $XXX discussed. focused ended the cash, and the are used of anticipate M&A. key allocation with acquire impact do positive continues we involve opportunities in by perspective, to to million we for be Therefore, $XX XX:XX very flow cash cash, not I've the in operating programs million. capital QX paid

We performance of will summary, XXXX. In repurchases in fourth capital to convertible quarter year or debt opportunities the evaluate we other a delivered the stock progresses. as all XX:XX deploy of including and strong

to focused XXXX, on are As driving we past very growth we execution, organic investments. maximizing look and

Looking improving further, we sustainable growth, cash the which value we believe positive can can top our deliver Now, line operator, significant with and stakeholders. of for profitability attractive all XX:XX generate open call flow for long-term we're ready to questions.

XX:XX Thank you.

will the go Instructions] And session. Please the [Operator We Terry from Tillman first Truist. come question begin question-and-answer now with will ahead.

XX:XX for taking Yeah. and questions. Thanks my afternoon, Vernon Good Patrick.

the is first. side. warning are question are do It like market first wanted a focus appreciate this, shortfall, $XX the the more warning two in you I ever key the out than public public I on seems revenue The important to internationally. breaking million of areas on -- systems

of platform what brought have you together lot the a articulate this because the all you to of value in is a capability. terms So here struggle

is just of is price share value, or have of budget And there competition side more issues? that follow the kind articulate Just of kind just I the then anything on creating warning? dynamics you So can are international there dynamics public up? any is a a a struggle to

which that under-charging reliability win effects. selected mid-term unsustainable in COVID been because for and that share in referenceability we've because we the we for to a to applications. an a where by competitors secure this strategic for deal markets timelines. addition, very we foundation is continue over-committing We feel Patrick. technology It's us necessary Yeah. and And and over effects to seen contraction contraction long and opportunity sizes lingering in the behavior of term, have are implementation Terry. helps part competitive of believe Recently, Hey, exacerbated critical positioned the range seemingly is deal lay be have sizes in and to a which XX:XX and elongated network well is the us of

-- what for see us opportunity tremendous strategic market. still we we've in a these despite here trends recent So the

of you -- just Okay, Vernon To in for in a XX:XX thanks Patrick. -- maybe is for follow terms increase that, meaningful there EBITDA. up

of you're the that's confidence capacity. going So on stabilizing, How go-to-market side, the dynamic the M&A terms been trying understand on force going and and sales are the in you investing initiatives? constructive than a Thank what's the and, you of overcapacity, sales is pause stability I the actions more to but guess amid sales kind with less to of these sales the headcount team and churn just like, various and you. had of just

XX:XX Sure you, thank Terry. and

customers nice obviously saw said also in year acquisitions differentiated so obviously, As we're of prioritizing take very had that a key and our would that one was areas added we my extended have the bundles persona of that, results now of of throughout as a in base. number also the of set in integration of product terms the sellers. we comments, comments, that assets of I as said things a complexity, the office the provide actually sales we and the QX. that both prepared really back marketplace to to of platform, and to those our my complexity complexity And the a that And prepared could doing I slow in technologies, is in and differentiation a those result

a So if make that's make CEM what bundle have for Everbridge CFO a CTO, believe and kicked do ago. very worked company. for long-term of And couple months sustainable to is pivot that for at of growth we to solutions it sell, sellers you part and be your that going are going customers a now or simpler buy CIO it can our and that's simpler or to important to that for I of solutions the our both is Patrick

the And you. Barclays. McWilliams will next Thank Ryan with Please go XX:XX ahead. come from question

Thanks And David's the focusing on strategy taking had of guide for a solid how Patrick, you there is maybe you and a of to Can profitability EBITDA departure your from unless quarter. the like CEM mass puts time on the fourth in XX% the notification that some now acquisitions. question. and December on and has shifted talk just markets? at revenue initial in growth rates core looks takes the like, it Everbridge view change to changes XX:XX you about XX% review and any what growth

XX:XX to our Hey, we're and was are the the Ryan. Thanks And the Vernon then, guidance. public a the bottoms since mid-term attractive planning in growth have optimize acquisitions, the and in drive the and more and approach preliminary a at higher what look to for time. view also we needs to confidence based I, In and and recent profitability. and on the CEM improvement that that that question. all think warning, going profitability. at what up with we actions come place We've taken our Yeah. hard Board we provided guidance strategy growth profile well to these doing model integrate have December, done solution, to simplify this strong near-term again strong and but our remains And moderate are significant taking

more plant underperformed out then year, any And $XXX have and was XX:XX of Anvil growing, might towards maybe appreciate solutions, end color. maybe acquisition you million. point acquisitions Thanks this for contribution any help at of comes what like last it for how the color Could the deemphasize with had No. year? that expectations? And you're there I to revenue just which particular when be guys. us that that then, your you fast the

XX:XX Sure.

it as terms largely Anvil, with nor travel been services it performance business business for. of growth as revenue returns the hasn't to was as historically relates as driven impact and travel -- nearly it as on in it we so as As COVID Anvil’s market will and believe strong Anvil it's be strong and it's

on the there be could business it not we're now. it's that and and platform did, very non-core technology context, came a number with as of the for right CEM us, strategic travel and pieces go we've necessarily look technology we're say some acquisitions terms some And core out and specific of came we we're those technology going a that doing that Anvil’s returns inventory upside we're non-core very, for sometimes We rationalization, in with we at focused built relatively just what the products. to unpack quickly. XXXX, those to related through of As

the of lap, and deemphasize is so to will have a XXXX. year, but will small minimize on those we in hard out the anticipate retention -- we impact gross affected system customers, this have we this work which that on naturally will will to And impact as going

Appreciate the guys. Thanks, color. XX:XX

You XX:XX bet.

next end. Thank go ahead, Peterson please is from you. Brian on question And your your XX:XX the Raymond perhaps muted go James. line will Brain, Please come ahead. with

Your is line open.

Hey. XX:XX

again, the Sorry confused the mute questions. but thanks taking guys, with hey, button for about that

the of color XXXX that off you're I So customers be is about impact, basically into on modeling to we're end $XX could as how first or will that should first a linearity thinking actually turned wanted essentially in happening terms getting hit just life -- the be we of impact? the and quarter, when that bit you up maybe should Patrick, more half us doing products little in that question, or million those follow maybe, specifically those on or give last with what

so question. and there the is Well, hey, XX:XX is that first, for with Brian. Thanks rationalization There $XX go-to-market two-fold. The is impact. impacts the associating we're really M&A headwind million the Yeah.

selling of to And a path we down so in of well were those integrated. dozens down, not we're always go-to-market, tightly just solutions of that break terms

said our We as are was and sellers. multiple them to customers buyers selling to confusing and Vernon that to

upgrading there we're and to do it make integrating focusing that. action acquisitions. remedy So to the to go-to-market. lot business easier taking with on back We're that our within our simplifying We're aligning Everbridge. We're office the a and

platform showed the said acquisitions especially And in that so the requires And the is I to for sales, products rationalization. you of as up both we're focused well and that in on the of smaller $XX And as second acquired integrate work And of as million are your well, half that the it accelerating fit. other aspect that QX. strategic not on the a in good rationalize $XX those. million components of as XXXX, impact part

QX that's headwind and rationalization and progress throughout work the is And due that going to, it's it the in will so and portion limited underway to already that's underway, it's already a year. of

update expected. some public it. points be just mass Got than or you. price how there? I'd are notification just solutions mentioned know on pricing lower may maybe warning for terms guys outside you're Okay. get in an trends looking XX:XX follow-up be CEM, Thank And you maybe seeing be curious of that on of of pricing. I a things the I’m to curious

Yeah. XX:XX

warning, as think sized of large to continued when result all about a as and customers. So think countrywide public deals. -- we I platform country And earlier our continue still soon our alerting we providing of that's, have as we that win both to that's ability said the for for medium leading

of a have our fair mass also also local deals and of win Connect our and amount notification other of in Everbridge We solutions. suite Resident some to continued state

seeing price it And the that rigorous well, actually pressure where public got products, though is we've as most highly the of international evident warning win Public even RFP the them, competitive safety to our because the we're holding International so we relates leading but that lots and overall continue the is pressure bids public And put pretty our the business. they're specifically as case, up for pretty competitors safety process. Warning is clearly compression pricing in on a platform, to pricing public but in that is fact pricing of

progress cases in migrate jump XX:XX primary to way of as to Yeah. well. seeing to our pressure towards And continue critical operational more another in, in growth we're management is engine event that continues particular, not use pricing we

you. Thank Understood. XX:XX

You XX:XX bet.

question go XX:XX And with William the from Please next Stotlar ahead. Blair. Matt is

the for Hi, on start questions. with the taking and Vernon XX:XX Maybe Patrick. pipeline. Thanks one

was push lot away strategic on month to decisions perspective, made make changing, a being obviously, of some management sense. pipeline lot XX seem which From turnover talked I QX, billings I in consistent on that QX in and maybe QX. which is flat the the about was mean growth had to and considering think impressive saw impact basis, growth we selling obviously a of a efficiencies to focus So QX the but billings, year-over-year the from trailing a we like of things -- relative lot in

to we the dig of to with deals, kind balance specifically the relatively are things just So maybe quarter, or that the changes well, since mean these coming we'd month either some get pipeline, you're are seeing these new into for and to what I both up renewal in like customers I trailing there? love color doing have in but also XX billings two where would more you performance upcoming,

turn XX:XX Yeah. to then and Matt. I'll I'll Thanks, go it Vernon. over first

it I'm was XX-K, a RPO, attention in folks which in As about the about and backlog XX%, our and year-over-year you'll forward. going RPO to probably a growth I'll turn guidance indicator pipeline, that on suggesting billings the which broken I of you to more Vernon current been that. our think to have about know, talk is pay over reflected in also but better is current see metric asked you But recently record

XX:XX Thanks, around simplifying direction long more our Look Patrick customers product is platform proficient more efficient get as our and our also sales and our to thanks, speaking question. around Matt a for the to folks. and

CIO allows with immediate And their CEM security that be leaders attractive I leverage think equally to really people the and for to persona, pipeline, our marketplace. business in CEM for security use us but us to is then really our really and we're really purchased, bundle it what top us solutions and pipeline from for CSOs of take the ops that that to folks enabling and packages fully a the persona, and and is communicate continuity simplifies and as case very able in our as CHROs other resilience professionals CEM for for the be go-to-market that. opportunity smart for on management, important gives place succinctly the round got business and opportunity each particular And around out our for capabilities So solutions the that continuity their utilize that CEM organizations really four sales second and a and that focus able we've very and actually to to some for got were CEM business those persona to of the advantage level enables for bundle not the then business is helps and for about the about entry to -- full we've least, risk security last for simple it’s perspective bundles. of about those excited digital,

be full could solution. we customers are set but a to to to up easy CEM of a able that enter, migrate So allows our sell solutions to

that simplification at we great again, for the way for and business and of the about creating something I simplifying platform and making comp not in in a and same and XXXX. been both customers usable So time it the plans go-to-market only our while consumable Patrick excited deal do it's simplicity more are

are from for That's that a customers those follow-up the it. XX:XX helpful. changes ecosystem strategy Got and initial of building the and obviously, the making? about years. bundling learned feedback on forward. out the there initiatives the going that beyond, you're on or past and early couple it's core just to How partner And been then your you a thinking focus How your strategic for XXXX any

Yeah. XX:XX

customers and now sales last organization. now in think partnerships, do to and our often excited very Americas the those I in operationalize We're our to are both we that closely now, our actively when I we pretty call work to folks, able together top we EMEA, and partnerships about beginning to try the being direct that what talk signed very with are got sales in year. and Asia-Pac indirect --

from existing whether the packaging, conversations many to CEM deliver many what they sign, good reactions resilience. the So very very, bundling well of received be been the that simplify meaningful in to can Deloitte C-level it partners around and customers has partners now with have the and would are of we at to feedback customers, our the PWC or powers that the resilience our their very they fact having

the going in CEM these with our marketplace bundles very nicely what's and so And with partners. really aligned

it. Thanks Got XX:XX again.

XX:XX You bet.

XX:XX Please be Needham. Berg with Scott from And next question go the ahead. will

CEOs continued first happen, Congrats two last the unfolding? about two I think and Hi, public yourself is I weeks. some had of and think last of have And seem times in here. timing in see now doesn't had smaller in nine the I you completely here of like I the to these but XX the countrywide the of all little Someone least and XX:XX of the deals in last, that guess happened frame with when we last question of deals, my seen the how alluded a this maybe on prior Thank about it for minutes should everyone. months trying saw the all kind it Q&A suggested questions warning context what we Patrick, months for eight taking some you when been conversations, to time thanks bit understand the at timing when asked was changes that kind its of in new you. happened? many else and momentum these

the was dynamics, I experienced we've a past describing the in jumping a it's what in. than public lot had XX:XX smaller of Yeah, and Well, much there we place all and but narrowing deals, Patrick. folks over what’s what that, to public, recently seen dollar sure. Scott. we've Hey, that we've pricing of is there smaller are and seen of with the – warning very It's shared purchasing wondering, a just is trend just timeline, sort

long going us, it's and potentially our still I previous -- it things expectations so, We're see just lot think than came something But strategic. excited through got more of come into so and we it's the end is because the committing a kind it, and game. look it's it's and what more global year price a about a very just deadline. we of is, to still sure. in opportunity for just looming towards as it XXXX over lower pressure that very for this here that’s We

progress that follow-up or (ph) of done Thank on have one general side, but challenges outside quarter integration there these help the get the pipeline is And view when different other healthier given this the type your kind some of Last And had and will process, one of the and expectation month, you've that? in integration, this integration integration I've year seen us understand you. all how particular? a (ph) timelines What acquisitions just XX:XX it of bookings then the opportunities, needs then are thinking have for that process. is should Okay. one enough. you scenario, commentary? recently review of we how maybe and Fair see you we question

we We'll go through keep as you updated this. XX:XX Yeah.

to this. excited opportunity through and do more Vernon the an for drive are and run much profitable go jumped on some this to to sustainable as We great the things long I quickly for growth. business

actions for will few get success plenty those the other I'm think and and We've calls. as materializes, we'll we make quarters. to going continue we on of quarterly to occur, line as to the out as set update guidance developments well a share any these guidance. updates. initial So that I sure we'll will provide opportunities And taking plenty and we're questions progress, take as the both are year top -- bottom of

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be will next from Michael ahead. Turrin go question Fargo. XX:XX with The Wells Please

business? and could how think public for higher -- the incrementally are systems lead to your warning quicker not current events out internationally as for how may times need incorporate on implementation about is anything that want up perceived the or dynamics. there the changes conversations, XX:XX I or on Terry's recent from Michael international follow in question is global Burg Michael Turrin. the change Is what top, Hi. in that to (ph) given the macro given happening for we should that guidance have playing part This maybe is

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say if question we we our can I that steady of -- the team I is answering wins, so haven't on And sure properly. micro fair the think share focused but competitive your is making win I'm seen the and pipeline

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large Thank may into these a follow-up, run that competition, diners of quick landscape the quick XX:XX how bunch familiar are? companies or how with tech about regional And when to it investors you. think you or is be through the competitors competitive smaller we think

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XX:XX Yeah.

Baird. next the Will will Power come go And question Please XX:XX ahead. from with

Erlikh Thanks for ask prices taking are again feel I I'm It pressure. given rather population network prices Charlie to the seems little or of on like pricing pricing. you what XX:XX lower about Hey, lowering too hold sort a bit sense I question. your it alerting you their competitors makes to wondering guess guys. much, you think Will. win just firm guys for for the wanted on This is you would but deal effects also and not to a if

philosophy on hear to Just that. about love your

Thanks, that well. few for Yeah, is XX:XX for navigating That dynamic Charlie been a the quarters. past question. we've the

of all place. mentioned As earlier, the we seen sort we've over pricing

explaining significant opportunities. there. will some a end look in limit we be of which significant over the few Then, not of us determine that day, it's we hard we will If about player, that opportunity a a think competition those the decide participate if -- to if the at the that the can a is we seen country some strategic not Tier do seems price to just and hits has that prices, the compete the by known that we it -- opportunity is ones are for That pricing like than and No not, referenceability people to and and sometimes we've our seen has more us said, alleviate one may referenceability. where large recent just getting could follow than we growth country it's at we next often for it the X may -- for small it be we've right a overreaching sure the lever prices, technology years. on instead technology and to determined us, we and the do. With pressure, there

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revenue are the Vernon -- sales improvement more continued in we've that by will XXXX And percent sales and EBITDA a up across our and behind our team XX% Yeah. margin would -- gross resources, through The we're with go-to-market. as so grow job neighborhood that and examples. and as will roughly free but throughout whether neighborhood and our we as leverage be efficient that productive that's cost there year of throughout the doing great will which fungible what throughout expect that, is will see G&A are in XX% -- the following and which it we'll in in anticipate the up time with the XXXX cash adjusted simplification profitability more year. and rationalization be of show and most the will model, of simplifying year, will of will working an it's We was more our in flow in that right of that have revenue and towards go exiting adjusted a on and be we the this repurposing you we'll marketing got -- XX:XX certainly doing of show margin, as of expense and marketing,

XX:XX Very helpful. Thanks guys.

XX:XX bet. You

Parker question next from XX:XX go Please Stifel. ahead. Lane with The comes

for Parker. Patrick. This [indiscernible] XX:XX Hi, Matthew Vernon is and

could bit Brown. Brown recent insurance you talk & the you envision start into the assisting to about expand do as is P&C the that What a you off, there collaboration First space? you opportunity announced with

XX:XX Yeah.

We & with after underwrite having duty or and platform those citizens interesting or our Brown make powering together is is resilience there in think really and these a countries if or sort their sure you for of like resilience that when Brown resilience, you relationship CEM really obviously organizations that and that Brown a of think with to to go-to-market I fit transformation that Brown assets, countries about the will. powers think platform digital the care those look companies, nice partnership. is employees & need companies

to Brown there obviously is the natural benefit & obviously, partnership forward so looking it. an early rates for it's working very in we're more to very flexible announced them just Brown so marketplace. better And options from that But we us, therefore opportunity with with feels closely

trend XX:XX secondly, the years, international Okay. which in And you the highest public outside of do expansion Great. coming expect products there. then have think warning to potential of do you how over kind

prepared Well, remarks to sort have around again I CEM packages. of XX:XX back to the go

are for CEM both America bundles, Latin One to office EMEA available in in that, or with bundles. the have these the CEM the work around the to be things product the extended back out first last certainly done and and for front for of pivot be let's Those secondly, I and office M&A throughout is those Continuity, get and prepare complexity of bundles to markets, the a months, Patrick couple done of activity for of XXXX the and and the pause to integration all on in thing system are whether our CEM simplify city be marketplaces, (ph) our smart going digital. to it'd going in CEM With made international bundles the Business Americas.

for simplicity going for sure our we integration, making to fact worldwide is focused the benefits the the our I M&A product completed customers again, customers. prioritize but gets that pausing activity, think So on that provide again on

Okay. questions. a XX:XX taking sense. my Thanks That for lot makes

bet. You XX:XX

turn XX:XX closing remarks. any question-and-answer session. Ladies and like to Brickley over to I gentlemen, conference would back this the Patrick our concludes for

for joining to in bye. today. call clarity, again. and look you efficiency, Thank you We XX:XX again. to with XXXX advancing Good focus Thanks our the in forward speaking and look further market with position our we more forward

conference The attending presentation. Thank you you, for now today's Thank has sir. XX:XX concluded.

disconnect. You may now

right. All you. XX:XX Thank