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So as year. Ryan explained, pretty was XXXX a good
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let -- you waterfall through it. me So chart, chart complicated this this walk
what major reasons a here we of of couple over so and breakdown we can that past course the gained the And users see years. is of of the lost kind paid
about in seats added XX,XXX And added we new XXXX, paid XXXX, from XX,XXX. we In customers.
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customer for it big seats year-on-year, customer seats to So same also was expansion. the when a and new there comes acquisition were churn basically difference but
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stable. churn so and forth, That's customer our the people the out existing themselves accounts what actually laid of on be. swing the for themselves. So seats basically the wherever itself, customer actual and business, quite people It's the expansion our might it business fundamentals of huge hired contraction paid that customers just acquisition, in do
a basically So was pretty that through actually itself results. year the and we was good. It think, our reflects year customers, for our difficult
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for keyword, the If if it top XXX. kind want we've in terms to expanded you of after broad top top start we're got really top get you each to can the XX, of going think breadth the -- that the in you because search of the results number of keywords XXX SEO in of XXX stop
you we've number in all. had we so see of at gains sizable keywords really, that the really And can actually rank that for
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is actually well. SEO increased just itself And so the our seen results traffic there really we've as
we've SEO from been strong Again, always an perspective.
sort big great. it's to so improved, but really churn, of And so been and a freighter it's that's been
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the of year functionality last talk as my Now got favorites that some reimbursement. if has we What you of well. about launched global
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is launched traction something year, last we And so this really that have overall.
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we're that forever. long talking a happy time, know and of excited I for to So chat. this expensify feature has have a been talk a have customers Also about I've about great this our to sort delivered. really asked been
past happy the to So I've about of chat. we're expense I talk this by with really, in years couple excited know Also traction here. the had we've forever. been really talking about
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over source to the year, gotten Within into itself we've open the XXX% rate. that contributors past or repo
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for really And in been leading super us as so technology year this a it. for we've a powerful name because the established and ourselves is it's actually the important future,
in to talk with I'd Expensify bit itself. new that a about like little So mind, the
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through works it's And well. a model. lead done business model new it so as that have generation. business viral Others not And
first So viral. chat I'd inherently is is functionality say
to talk can't yourselves. You
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document And X. management.
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basically about new talk is. we if Expensify what So
long been core, time. a about again, Now fundamentally a we've talking at system. for it chat And it's its
it see, can apps, might much what's whatever deals it you As like very be.
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payments very powerful a But of foundation. So it's chat a it's also, course, tool.
it's basically same experience. Now chat still the
do with and and still pay like we You with things that, share money a can of to search share the and they page, and so can sort people share to And of a talking their click basically pull like when payments. expense by where receipts can things in reports can They to you part management call major up sort of traditional it, requests actually talk expense this. documents forth. is people them, then them, payments to you But this.
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more doing lot forefront, a heavy especially document accounting about functionality. And fiscally firms, start that task-based we're are you the when of which thinking so to now bringing
means monthly about sort the closing basically you're month, forth. different conversations and books on category spinning out each a bunch up it you're the If a basis, whole of every to close ed of ledger so tasks and
it issue system, attracting Now use the on e-mail, all of that is. an would case, platform. historically, of our maybe some you In can whatever sort you do Excel,
same You just discussions store of We the themselves securely inside upload from on we the and payments in and then platform. architecture. the the them and basically the reconciliation our can between permanently of everything will to take cloud all files
system, again, document system. that sharing it's but a it universal also universal so a means And becomes
need with now a world, text do you e-mail the to with document we anyone chat If a see the or to tool in become that.
So cases. these are new use not
whatever. you the you're go open documents throughout at and one distinct When As you're infusing management, the chat of sharing all can like or product entire you times. not chat the It's all chatting, see, these experience document payment all use doing or X not is to these are of payments, experiences. Every you're to cases X.
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can merely user we reimbursement because actually So of cut the for something. do process days the to days are out waiting
action take that it can X We seconds. XX to make an and hours took
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the not you money can't making fast. So -- just of a move it's just matter
the make to different a have You fast. user experience. lose That's whole
invoice invoicing, a long do that to conversation every Second, our a from time But trying basically again, for and SOW. time. itself. some clients, pay is of engagement or we've we Because our you more when bill around the that pay bill conversation around had the capture invoice clients bill there. functional MSA the and preceding there's and -- a was experience about conversation around the
don't are a know, terms There in, happens Currently, might Slack some phone contract, whatever e-mail, that of like I or the this. or it something be. conversation maybe
tool the of the of capture storage then in final Now repository we long-term conversations of we and can contract can all deal. the those the be terms itself, chat
the when invoice, terms the products. in actually right there invoice reviewing are So you're
see and You much when it's supposed to to going start it's how cost.
management. chat we're the adding experiences.
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Additionally, work traveling people, other when you time. you the don't travel all with and places, you're
when are wild when You -- night. have or a you off-hours. duty conference, -- go on call to but on out people they then go at
you we group lot to to travel. try the multiple business together. And of you a of something a build we're hours, we so WhatsApp else. group automatically. travel throw basically recognize or to this are you after just chat you who same the doing like people And social people city, just for travel someplace When as a off real-world spin of that dynamic sort result, to would go -- and there's room normally, Instead, going of to them social
start their actually activities dinners work can products. in of or they act right and here So coordinating actual the
leisure-based Chat. travel it new, is And that's And else has. we something that nothing about so IT new. designed management Universal And cross And travel chat again, you one need but we an defensible talked about requires finally, don't a seamlessly. integrated has social management is highly is sort here seamless countries of of that's no Like account. think everything sort because I talked basically, to functionality then
automatically. a this. built password need or It's in of basically just don't You any
can with an number, you So phone with. app. e-mail anyone doesn't address require or collaborate can an join They
respond app in or just be. it the mobile whatever to the You might e-mail, open up just
integrate working pallet. product who and that So whatever terms of you most hard eliminate with we're matter with, in collaborate we're adoption, to going -- they sort no to directly with can such you who the to very you engage are the barrier
fundamentally, because we so much this the of for can sort foundation, all any the standards. values of creates number technology high-margin think, highest of of pretty a but of performance in end, very of chat because hard at of usability sort standard And -- highly any subscription reliability that the to or held actually reproduced functionality reproduce sort it's be is and dispensable
we spending of That's years the on why it, we're competition different this why so And completely we've long been think and do. so what of ahead level is technology to that's development. a
this huge is untapped of we It's fighting not think organized growth e-mail SMB it competition there. the is long-term our of So else the going in There a it's one ESB we back. of no kind the a X major is sort -- of with because what is cell, and start overall, components it's market and is it. really after no competition and first,
And so we think opportunity largely that that's uncontested. huge it's a
the was the think go has and way way we through any ones it that word ever of Second, only to only viral even gotten out it, trying also get only mouth. And we're the that.
If model, of exact of way, much business them competition, sold you exact the all look any basically our it's all at same have strongly. same the being pretty the same and product exact
So this, a have can that way untapped be a different huge angle. to viral word-of-mouth manner. we captured you others that has opportunity this think The with has way through the been it capture
the Now important and X Internet. of to think that use nexus most do we're expense viral the going most -- cases at that of the the and sort management we're for in because we
for the but on that actually they'll red think again. are new the in finally, we subscriptions the everything do sort to been foundation want make And it's everything, so then of way to that And And long idea not can doing profit complete hard. because building is very the like we working very, quite competitors time. sand a a we've you think
the most the it it what is hard. We with basically the acquisition market saying but the highest quite into the margins. I'm cost market saying operate easy, is stuff, end, genius to the this best in economics. way largest It's quite most unit hard. think Not lowest defensible have exactly is to it's actually doing the but in
growth economics long focused for sort on we've of and time. so entirely very And profitable unit a long-term been
we is about And a we the that to this. think have competition, which strong of advantage now so starting very just think
because platform that long remiss now going be is this going very that completely built I'd come But we've it's come. is chat to a entire focus than for change about going not everyone's our because known designed. something sort has user the because about everyone's it's known that coincidence chat a picked the AI I Finally, to But of to to come. say -- not are something -- Expensify to to language doing mean going actually thing how pushing up on. a different time that it. of chatbots chat generative it's been just We it's interfaces is AI. seems are be The AI around
historically, bunch bunch of going way, but be still Like in things there chat, can this. things a with a a this. buttons. There's like to actually and there's more of through searching that's to and interact talking like natively AIs And you
platform the themselves. to is the all And on so trying information collaborate our single about a and build same foundation of where can people of kinds level AIs
talk, to they that in as hanging basically you not how out them. And so talk actually you want talk if super well. intelligent the language a don't they a with have to to we just press bunch talk That's buttons of
humans AI is the footing Expensify of chat language equal as collaborate as so And AIs a themselves. and can the foundation with on such an
to actually talking just for lot showing And get about such been than been to extremely point, I talking we're we've a stuff So about happy to rather start but all work of know a that it's this long the it. it time.
a so code, And the more QR public chat it's here on of roots. screen at is that one trick got Expensify
it be. scan might web that to going you whatever and you're If mobile, be code, on
You need into address. where you e-mail sign don't a type to up, room dropped directly an even to need again, don't
itself. to direct the rest the There, product you're project can to and to the executive information. read observe bunch of more the access team, time get You going a talk me, about team just in real
financials. is conversation This this the isn't road itself. again, about about Now map
any questions the we things, That's product works, doing stick talk certain from competition you. But with if love the why where to and topic. So the to is it we're basically so forth. basically about differentiated how would how
into drop And directly so that whole code room, a you're see to just the scan experience. going to chat
start can You friends. requesting real from your money
think splitting it You platforms, on works we'll that now. account, with about talking but It e-mail, to we're an phone you works start there. can would everything. you can start experiencing you We talk all number everything you know bills, right great create be works
I it time to to I soon. a be let's to guess, can't up to you great So wait open questions. -- talk with It's that, going Vicki.
