ReposiTrak (TRAK) 14 Nov 242025 Q1 Earnings call transcript

Greetings, and welcome to the ReposiTrak Fiscal First Quarter 2025 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded. It is now my pleasure to introduce your host, Rob Fink, with FNK IR. Mr. Fink, you may begin.

Thank you, operator, and good afternoon, everyone. us the joining Quarter Fiscal for Call. Earnings you today ReposiTrak for First Thank today Fields, are CEO; call the Hosting Randy Merrill, CFO. and ReposiTrak's ReposiTrak's John and Chairman

this like Before I meaning XXXX. of Litigation about to call Securities the could Private Act remind ReposiTrak we within contain would everyone Reform begin, the statements forward-looking that of

and Securities beliefs in this Exchange historical uncertainties, of the company's are subject conference statements are call. any obligation filings forward-looking with statements should statements assume are in not Such are may The results that Forward-looking the herein set actual discussed remarks light upon which be are and to current does considered differ facts. to and forth update in risks information contained ReposiTrak ReposiTrak's risks. not risks subject such Commission. information to Such expectations. based materially.

today's financial release. the company's overviewing repositrak.com Shortly will be after press a access website the release on Investors market issued closed results press of this the that company to Relations section the call. can the at today, discussed Investor visit

With Merrill. all is the I'd that turn yours. John, call over to like the to call said, John now

afternoon, everyone. and Rob, Thanks, good

in then, ago, our me As when our not has of communicated revenue. asked have further we strategy. Many short traceability you financial just results. validates Since will you the results know, and a our September fiscal we time stick hockey strategy XXXX changed, our see long-term

or regardless expectation. we've opportunity, As will we service customers governed always said, short-term of a add deadline, product, at pace

execution, never trade happen. will for flawless never We speed

applications Joe's is to safety McDonald's, and or suite address no unmatched. been risk Household small, such frozen have these company Big of and is the and of Salmonella. a name news page cheeses pancakes, As Listeria just immune food Eggs, E.coli, and is to contamination. ReposiTrak's to issues you basil, BrucePac know, Boar's front contamination names daily, food deli all food as waffles meat, even affected. almost Trader few. Head,

a what There's establish a where before, whereby investigate identify not as assist them evaluation required department. Then supplier XX% do an how the discovery it in is of accordance suppliers communicated and phase process. data Remember, complex required of stored phase, to have multistep extracting IT one and the there's Data in we data. an e-mails we However, and manually than more with lives. a implementation collected Then an we help XXX accurately needs FDA in the can requirements even or systems. chain extracted be FSMA there the several various to in the routinely, supply in requirements. whereby forwarded is and the is suppliers' phase, written live files, along data

that's one but It all. is fits not size where It a complex, we excel. is

advantage discovery, a customer While traceability business of our to mind, of supply is top deliver compliance, lines and includes make which significant food chain safer, of all traceability.

We of have experience space. over management the and distribution combined and in chain XXX food Board years supply

objective: this and income, set net even revenue balance execution rationalize margins, requires delivering It's increase shareholders. business, lowest food the a provide quite of operating with net superior food return capital losing making faster, in safer. very philosophy margins, perfect these grow without EPS our concepts, execution, simple: grow and of sight the to cash simple but expand flawless a safety include at solution cost, margins, revenue lines expansion all is deliver price gross recurring While operating solutions, with of

of confident significantly remain quarter. drive as rate and a is This traceability growing paying of balances operating preferred contribution will that offerings. I the gross higher to million record strategy per mind, consistent that to to and debt compliance growth ago. accelerate overall cash marketing the capital in the and we years, over performance the chain only several traceability the contribution from in our net this through a legacy capital September in short of tools next our $XX.X shares traceability automation Bear recurring returned allocation results, common $XX and million invest customers. off redemption continues and few conjunction annual of our margins, bank revenue reach driving in flow. cash beginning is earnings and The the to revenue with and cash years sales, our continue increased common instituted onboarding Our all double XX% since in levels, run in services to over and comes share growth dividend, only bank cash impact as supply stock just shareholders we maintaining

Let's numbers. the September get to

versus The For set-up fees due from quarter to million the first revenue. nature, $X.X XX% of XX% revenue under due X% onboards, million recurring. revenue was result during XX% $X.X to higher not revenue was supplier This result quarter. Recurring quarter subscription was revenue $X.X are X%, was June increased the total of higher increased the and decrease up $X suppliers of setup million. to onboarded million. fees higher the fiscal number just XXXX, by from which to of a of from total the number Recurring

Income OpEx and per expenses increased income X% from from XXXX. to $X to Basic shareholders GAAP operations per $X.X last result $X.X income of net $X.X $X.X development versus and per year. the investment in fiscal million to in earnings the million million. increased share share million. $X.XX net million $X.X tools compared in ongoing XX% common $X.XX automation increased XX% share marketing. expenses XX% to was sales increased increase million common to million Operating from was versus to $X.X investment The $X.X of million. in GAAP

cash shares just permitted us of to another preferred $XX.XX at redemption our XX,XXX quarter, stock a the under generation redeem During for $XXX,XXX. price

goal X shares redeem preferred next and the to We continue reiterate all retire to our in years. the

communicated have debt. off we previously, we As paid bank all

our $XX renew strong maintain million capabilities balance line to we scale, capital needs to of systems to us cash as our investing in are upgrades allow and consistent The grow. leases, generation, which currently bank. the the not Given credit storage, existing redundancy we sheet with long-term liabilities and processing chose

X% of This our from performance as comes revenue is traceability. coming total just

increase over to accelerate in expect We XX or this as to more contribution the next January FDA from to period, $XX are months already recurring Obviously, be the queue many same that XXXX revenue, than the traceability will ARR. onboarded time we adding represents additional approach fiscal sequentially throughout Customers XXXX, in the customers annual queue. deadline. continuing more over we anticipate million

our suppliers a every automate getting this, We're improving of day. at facilitate We a but continued to better to pace moderated onboarding goal process better efficiency. at with improving enrollment continue faster and

remains In strategy simple. very summary, our

First, great customer. of we care take the

they grow, As we grow.

Second, balancing recurring opportunity. revenue, with we will cost grow

and at away stay and and to different as from EPS. We income the period to debt, net operations year. will is buy we lever with We'll Third, XX% opportunity. same evaluate manage our Board cash favorable from to last the common that flow continue more These may adjust increase generated whichever common our The an the grows. initiatives time. cash in will the million $X.X long-term time capital continues to stock flow during back of cash quarter. capital shareholders levers, utilize from preferred This dividend costs allocation increase and strategy increase is

today. a cash your dividend all since ago. Directors I short increased have everyone, We've dividend time. That's Thanks, twice now the of time Board authorized the for just a cash

pass over I'll Randy. this Randy? At call point, the to

major It's confidence a have forward significantly John. significant of since a primary. The Thanks, food will X reported fourth our catalysts consumer that line expanded. XXX, quarter FDA not years been Two tracing company and with by retailers But the day. in really fiscal the results. drop size so, exerted approaching safety more way, foods, good time stronger food grow and short and Why? all industry permanently has major is list has going our A our we alter in bottom the then, just that moving confidence FSMA or since double along the pressure, and just past the the importantly, traceability been deadline. next in

mentioned. a to catalysts add me I've color Let that little the

to announcing food end-to-end before January that about be not distributor at -- that information all First, product think refused Walmart -- have XXX just suppliers, joined full need XXXX those Kroger on products, all stop. or may now the FSMA providing the will refused provide and or Target deadline or store, Rule products, but food traceability in the

Why the just honestly, and expand one simplicity. all your XXX Rule you Second, the labor cost world products, have, in It's try operations? separate process. cost confuse easier and to from regular would of and products

processes, in It's the largest will safety have safety the a process, whole issue of the traceability for all. recalls. Rarely simply one have publicized everything? business. Retailers same and not. arrived third, Rule Well, that is and now become their straight things Walmart for this determined maintaining to surprising just Food for not a it be conclusion: the likely made Will two represent possible not trace one a Kroger, is retailers. Three everything this Target marketing food highly differentiator else for practical. more line of than will facing Food straight everybody obviously critical that And by doing It XXX so-called products line. at are running message. retailers safety. one

stay a to who downstream FDA clear, just it's and our overall, suppliers To right requirements. make being provide basis to does their retailers suppliers? and requirements, it, name for right traced. like almost on format, determined are ultimately, big through enables upstream, suppliers receive strategy business, the to comfortable tracked world. What need better the data not mean requirements, made And the Well, the these three very an in position we're but pretty Kroger, will in They to market for Walmart moves But if not to chain. are retailers comply of to Target, they need ReposiTrak many those of major will including want certainly Supplying this that a clients. as for ReposiTrak we've decisions with product few. clients, data everything acceptable supply traceability to simple. It be

massive to the way mandate. traceability It's business optional. is done. a More will a importantly, this not becoming suppliers that signal all It's be is

The in put series FDA least costing the At just brands, recalls. major them a a was risk situation new legal place. We've name is and second terrible all for few. potentially and catalyst and Product sick. hundreds the dozen heard Boar's why and about was their major a dozens fees retailers to many a precisely outbreaks: customers, represents contamination dead BrucePac, Head, of hospitalized, Treehouse, traceability reputation. This Listeria

have Being obviously to issue, meaning bathwater, the or respond throwing no to you because market visibility that identifying their only to product to expectations. with in products essential business. respect, the a contamination isolating lot traceability, and detailed every time out of that traceability. traceability, was from Otherwise, we every a potential frankly, quickly, And with empty code of in affected. The possible the anticipating. you're to without and your our The the it's size ReposiTrak grow, baby some exponentially specific cases, is batch problematic able proverbial continues shelves you continues scope there's what were exceed

three is relevant becoming less the to all products, Given would food time the food by that line trace and retailers now less expansion day. of FDA be hope every extended top I the

retailers we As issue, to too life election the It's at much is too President see traceability from a as are competitive major don't a regulatory which this along, a no longer point. traceability death. far saying, the with issue. and market important It's risk stronger dealing keep perspective. We Trump market of who pressure a is

hope somehow change. from out, adapt, pushed risk continue but time don't so the We to industry the has any anticipate is political deadline to we

aggressively the those the major retailers more that independently are lines than by January The the line of is time pushed XXXX. time were retailers. clear, pulling to major change be FDA set FDA in To unlikely line time even

changes it customers role be self-implement. Ultimately, there savings degree a before, to with early actually will faster activity tools It's that the facilities easier to it will a automation FDA's never hundreds in diminish. to driving from do ours and our timing they've to focus to join high to are traceability, a retailers daily continue scaling. drive even to and to our of activity have it for brand-new onboarding has done efficiency, have more as our fine-tune by enhance our learn Meanwhile, scale and So implemented the of of automation. on we will cost automation become to easier making continue more of remember, to adopters, thousands

best, the literally, is team saying just not Our this.

an to team Our part continue and having daily to our in best persist the tuning obsession daily it it years. changes ours. be It's for is is our making will observing process. improve that of on can basis releases and effort new and of culture, This a

factor improved to by In and our of kind result seriously, traceability literally, productivity our the compliance management, with a going XX, I same for we've onboarding. we're get suspect of automation

Our faster faster. get of to continues pace and onboarding

it's fact, to Boy, I and really period In John than before up. picking the up? told this fun would is daily. Frankly, result watch short more it of time. kind of it We picking expected even is you be in that

operational is always our been our the never wholesalers is and has First, well. on as of That a suppliers challenge and needs new Traceability will for focus change. a new process customers. and

adoption. further to Our it do is market widespread provide the point us encourages and obviously to at share. goal price that capture industry solution a This enables

but ReposiTrak for the community. by offerings, We in traceability structurally margins it's business considered our user model historical We've compliance line initiative priced is with other gross have honestly, cheap and the a that profitable.

want, as to profitable we us. cheap them and perceived what Just to

that Second, add-on recognized per provide shareholder. customer, value for and we've that not for will additional there our services always but earnings be that tangible the would for revenue customer just us, drive will

mind, likely to traceability. of heads keep add our on thousands earnings But soon too complicates services for in to this the story, thousands market upon next the in we're bringing bringing I'll color and more now suppliers down call.

months. adding by customers and representing more XX wholesale by suppliers but join X,XXX the more we or actively to that them abating, hubs represents about suppliers all incremental enroll to have XX take over their X,XXX today and Those X,XXX in hand day. Demand customers that million, to onboard generating RTN for are facilities that additional XX and have We is these months will enrolled currently less, and It required actually retail annualized or revenue revenue. $XX less, the are every next being not think, are being more our accelerating. more in companies to

those at of to X,XXX, the size But us the while as number onboarding been over that certainly to again we're years. saying the few least the enabling next add we list, effectively company should double we've

first of In XXXX, quarter revenue. contributed of recurring the traceability X% fiscal

and year, throughout fiscal both contribution We of a as of accelerate this our expect percent terms to the revenue. revenue in consolidated recurring

monthly to love rapidly. say when is we -- point, say, oh, this thinks the God, it's inflected. I it's Our fair one onboarding about to growing And saying so-called inflection fair are

signing and next the the of the number suppliers. the from is forces, Over pressure market new revenue both absolute hub hubs continued to of automation year, likely the generating reduce conversion time from to

are better better day, daily. We seriously, every getting and

While it clear and businesses Supply traceability, focus Compliance grow. urgent continue to is Chain our on our is

in in business. Our the every due to part virtually quarter X% fiscal growth was of our first growth

the that we years. believe revenue to continue next few rate can our within double We annual run

be, superb customers must Our will existing normal shortchange growth managed. however, we our or them. confuse than do Otherwise, work our less for or

But to demand. growth, ourselves perfectly. each by implementation every not has has and view In be find other on handled time we the the management current that words, constrained that

now, sacrifice not not for will quality ever. not We speed,

ensures to our Our business our is success shareholders. simple, simultaneously consistent customers it growing and profitability model delivering to

financial look results, Operating If you at XX%. was that's up our self-evident. income

to enables Our phenomenon net income continue. us This growth. X% of to I up that XX%, more XX%, will income, common capital reason up return any frankly, that shareholders. see our shareholders, more John why don't And not on and and net all revenue to

in per As dividend quarterly September Board what the to another the year. cash we XX% about share on $X.XXXX announced per approved call, increase our

$XX debt, million with our the a cash still preferred of paid years continue common, bank twice few allocation common and the strategy the increased redeemed announced have dividend bank. in off As capital we've we ago,

more of done are we're I'm very have do, we work to lots good We future. very, incredibly what feel far. the proud team has obviously but and so for the positioned We where how about

that, to I'd with So for the call like Operator? now questions. open

with Maxim comes question Thomas Our from Thank Instructions] you. first Forte [Operator Group.

Great.

first But five I has your in My questions. or So the John, depending congrats answers, on might Randy, one list add quarter. initial off, two.

Walmart, Kroger go question, the suit? or time. and first are a follow retailers the industry unable are setting So food at smaller Randy, to Target one I'll standard

leadership. three was in Well, have opening the those that us, what to changes able really buy everything us, If guess think use high is, mean on you they can we'll is to question compete? off get the food an the you the and of ground. The the to competitive. from they claim back everything I of to guys, happening its smart my be And trace if given they to safer decided a They companies of they yes, marketing three environment. landscape. shelf based be saw use product is, safety. pronto, those the Think and area smaller arrogant. But happens, can us, certainly sound buy being say we'll able don't something that it companies answer just I be origin. least this from If make at advantage us, the we'll And

it's than that. "Hey, I I you, say, cheaper." don't think competitively, do better food kill might to but it's see that our

I how the way everybody going guys find else market really time, in is, compete. are think of the the to the a to to same basics have established will answer So over thing. big And do what to be terms have

comments on And you this Okay. lot then gave question. a of

it quarter year? So I'll a try sales of in in were to traceability. X% simplify. the could What be September

At next say, number? maybe probably we derivative. that it, years, do what single was some double point percentage number the are say because of X, see we business expect $XX say, of in, we get goes but the I that revenue to going every that What year implies to increasing. pretty to so traceability our our easy. quarter, it incremental coming $XX all to coming million X fun quarters, is million we fully our will did that XX%. from If It's not same million revenue most It's that $XX Well, have you're base, inflected. -- remember, and be How can in from is you call traceability.

So it's And will years of perfectly reasonable from X then probably X assume to that, couple a half go -- years to that after will years higher. it in of come even traceability. revenue X our

these I then And ask every I'd are like some apologize, of repeats, Okay. to ones quarter.

then and And I adjacent adjacent on thoughts adjacent? current markets? consider care food restaurants, regulatory Your health

certainly includes that all space, the buy outlets, in as people those way It the of there's stores we and market includes substantially tremendous But than non-retail Well, the those smaller go to restaurants. food. food retail business. opportunities markets convenience where see food we

be by the that fact work those inevitably sell of we'll both So in segments. virtue the areas with to suppliers that we

So for products end channel those restaurant. example, could a products being and up in sold if from Kraft, retail in you a bought buy or food

inevitably, means So crossover will well. very which the in doing is be those supplier we industry high, as segments business

same them don't as We bat to And be say critically us how just be see important, customer keep the critically be the cautious for to heads is this, important, want I -- off having just I down, focused potential. on the experience. incredibly

there's Something done has our company improve nothing the current state. wasn't to call, that what I remember on is almost historically

that compliance No. that's we the came was But invent management, it compliance of space. we by when dominant we're to it doing market. in superb example, standards And in that for did of way why a management a So technology management? idea certainly developed so the compliance of

everything we've been existed, done done. before. has has never It's supply one but done, almost forecasting, traceability chain, no So ordering

to there's it, have but incrementing -- are not think traceability people business are that space only it, that call people a reality it's a not we we inventing, how not So done before. going I'm only of

transactions workflow. to get of billions How year -- And every into figure going do pick have how into system. get recorded by we administration there's give our this now, out they to the that we get do we billion. XXX So number, your it How do our XXX them transactions. billion way, be

factor error would matter doesn't you what really to apply It that.

XX tracked suppose million We're the it. down, X%. really that amend talking it about have are correct errors terrific factor per year to and be people and Let's error is

reality is ever the So industry something this is, not has this done.

and is the to And having to with we're to So here nature going certain of I'm to we're do there these extent, the fact to deal are call a to that ways -- stay, experiment companies helping grips ultimately come allow it. but it. to easy novel to it traceability with

So a have a been different be the And to a certain ass. this market my think we is is rodeo, products. do imagine. There than What simple, that. is to done our doesn't but everybody Hopefully, people for find element have is whole we'll get have goat for fact a is and blockchain use date, to "Oh, need do We no more look going to able to in share it people there's way helping to that Well, track fair blockchain." I simultaneously. than it that do their the now like thing to I'll people, easy the where people trace traceability. certainly traceability and

do It's is die. you or as supplier, kidding are traceability if accept die. don't product a Seriously, Because can't companies weren't from we "I saying, it you. do where do or

situation. high to that. do to is can are it." hell or learn this part I come going People can't be You it. water, to accept it just we a want ship So do-or-die of and

Okay.

a list. question So I'm my adding to

John maybe revenue of growth answer composition can wasn't of this one. should we the that think of traceability? XX% the How So the of

Supply of and Compliance terms Chain? in mean You

product What Yes. was one particular... in

Pretty much much XX-XX. so it's They're complementary, XX-XX. pretty

Okay.

it business as So traceability, of outliers. the well were you're a saying no There group. performed that that wasn't

No, no.

dividend, quarterly preferred back you've where off pay then And you what apologize shares. -- capital buy right. end Under and this have common? we bought an I you're and paying All if would conditions greedy. back you sounds have allocation the the Good. But off the preferred, would historically Okay. a situation

put has the half common or from strategy think in dividend. our take buy or basically don't increase either cash the and I It operations, preferred changed. is the bank half

preferred, will think not I that redeem continue to change. we

X it, increased X $XXX,XXX each done We the dividend. don't the for or change. don't expect we've that think know, quarter I just I now, last, to quarters. call I

would We have bought preferred resume no the is common increase we the or debt. And back, dividend. obviously, once the

capital have. strategy which a things the it's solved But not have, problem the cash we've generation other change. that debt Obviously, won't a have, bad or are complicated that companies of allocation cap The with we to lot structure.

don't size I not company standpoint and to recurring from sheet debt, if will next paid shareholders. even revenue, that capital if X the So believe you're building of years. And look doing the you M&A, of the no focused more returning then the forecast, it's change you off either the over you and at mathematics, more double have a a X you're but or a you've to Obviously, preferred. balance more revenue

Sorry for longer long-winded answer, at than I but Randy least was. the was

from John, the changed? don't all right, running -- the to that if the I Has like the you. Do business? give I number cost know So you heard number on of

-- a you've and terms more spent takes increases obviously, it future. and you've $XX I Well to run -- there's -- a sales with an you investment it. in the along we as for that people in payroll education got said how traceability time name, is of the household an your have not we traceability. tell go much dollars seen on in can't place. educating the as the with But that's We that's revenue, invest, did obviously, always for commission, million increase I've Except and marketing, taxes

would and back of awareness I would grows, pre-education on expenditures to kind the marketing, then go that As say, our time. sales

place, stock with Will the same $XX takes sales, But XX% I it it expect grow of up variable maintain that's grows be the think absent And before accounting it. this amount. materially. in same associated comp out don't reasonable. It's thing. of I it to the I bad take run up million X%? to costs debt and It revenue,

are to away. your of phrase right. all All the way you Can the than customer that firing sure highest make other efforts updated you've this on of think undertaken the your the give to the thoughts margin? customers to trying I'm And

mean? that revenue you does mean? You What What do mean margin?

XX you've I been I I where margin. John, of you think, pretty about last, prepared favorable getting didn't to weren't that So know, months the hear explicit for, out churning XX remarks. customers some as in your don't

So if you're I that mean? I what done-done? means -- know that Or -- just does don't

probably... there's Well,

Let me interject.

Go ahead.

experience We as be customers a makes we and them successfully. relationship. we our think company, may that, never done for us it's with meaning a experience that That successfully that important

we et time, it's cetera, good fit possible enough offerings, over longer the we're that a our sunset to it's other no So if services, change we customer. say brave with

the customer, the advantage years, pruning we're been, you call good to about of business what So over think, I I the pretty the direction. because meaning the in we've leaving different going behind we're

level the -- secondarily, across we business. then I the staying from hard And Street actually Wall margins a by net a this fewer hopefully and automation, focused -- is higher focus perspective of improve know for on things executed more with brilliantly

we are. don't we currently any We have love do anything. to where now So plans

to be this You're word going we see this love inflected. -- -- I

a better look So as year nature. turns and the area we'll is to we more in from we the if of It's some to about have up and we're doesn't enough, where But that a thing. are. show business it starts feel more out just inflection have now, our Tom, numbers, we a brave good Pruning future, better sunset the it.

then on efforts? right. your use next AI. you update AI And your pruning I'm get to like automation to Okay, you Do Randy. All the a I'll word, quarter. want to sexier quarterly use lot. word remember going for the

approach a -- What way a not we is problem. Yes. process scaling the people that activity Yes. it's a problem. It's

true what's and the one best people something, see But in one done. assemble a -- level get human trying to a of for we're us, universally the it's as flabbergasted result we the to that know we apart we in process backwards company document customer scale the that brightest, every Then proportion world. total minute, process. that. dissect that our don't step the are doing leads highest when team. will And a as that be of always the it. our a from from single we I pull goal, significant we when if We it were Now We that's a our doing true literally, And It's go at our build where week tool today. to the that of the just we team. work through size

And tell we as that have we do it. smart ought as but we can maybe to to be, that, we're time I every tune not you

our from I dozens at XXX out a just months literally, how or in it in the "Oh, wasn't ago, And single would few about the wizard we're most today, per you've this, figure But day, every that whenever was. what is day year XXX So not introduced wrong X when said kidding there ago, we How week." talked think I remarks say, companies wild. my being wizard. meet, look wow, or have day, we team a every gone a we digest think. out that's to in doing, or It's what's

we the negative is We get talk about fact, out a In And we to Wizard baby perspective. getting Guess from what call kick meetings it ugly. the this. you'll of pretty better. a call the start

But to high than day, only to change can today. level It with from, little to baby what it's way be by up great, And we're Our that accept get it the an the start -- ugly. you is that. good. doing of things prettier extremely have baby We can ain't be come is can day pretty automation. we baby

hoping just thinking about wishing you and future. -- the and if So were

But some one in is was -- suppose not world. place. will the in easy." "Wow, day thousands. traceability. not you'd or hundreds ] we it, want of there, X here a To of this day, do at extraordinarily have [ experience from easy say, end so XX,XXX, India doesn't it unemployment Not think because that today's we of That was the what could to customer is forecast. users seem exist profitably grundle you'd -- thousands people, you not We of easy hire X,XXX, end they I an a each but XX,XXX, to of that get have on have in hand, hundreds One to

We're room not run It's not nine that be a in tools. to a by of different a a a to being way exquisite do to automation adding a results. for by equal We the baby. on world. the the in customer women the managed focusing process Because people keep we process. conceptually, customer, want month for lead So us, can

And question that? six. -- is, we're you know, don't that's years answer more we year. to you $XX I people need is, X a let's doing maybe would One don't say, but why million or from million five, a how many know, And do $XX well, do now, handful, the ask

approach, do the of be way. process. we we'll AI, will know I be why for it's better all it that And customer. scaling that It's We the it's scaling part a but better it. that -- the is the not that's different customer. definitely not And but people, Did for of

Okay.

So answer one to unless want last another I you ask in one. that question, it way a

you a acquire to layer So give thoughts onboarding you it. can to to Could your But accelerate add want I efforts? business a your current M&A? strategic on

problem, at else. so, We this But to It We're reason anything point. our now, a it we year year got could, intersectionality if suppose distracts going us. triples a it integrate doing year even buy don't And us. what from meaning it triple a to is, it. I something, call we've onboarding takes think the in us not without

more risk the and they'll worth more says In we not take to By try might where and we in risk. way, take buying the afford shareholders of other company the the the that importantly, a We get us. it's really by are. can do and risk. to We help but kind obviously, risk. customers faster can't That's -- cannot the it the words,

we anybody did go at the compliance had Seriously. did how But We're good. planet. in as good, connections. it that before. a as think in in our done already different level to XXX and to now want X know it we I We've I Year We're that. to we this people and do good management. management, X compliance whole of We

had people, and XX,XXX And year XX Next year, we we after the people, that, X,XXX we had XX connections. we did and did connections.

scaling, load, So scaling we but get not requires we people. get it automation,

another really a us couldn't set So company tools. of bring

deploy this. good competitive counting, lets amazing behalf development at the It's really of to on us to part customers. our advantage. just I'm not And I'm integral effectively quickly environment it's are applications have. and an things tools our of Our that build sorry, we

my another Well, you've taken Or successfully away to ask question. desire need.

sorry. I'm

Thank you, John. Randy. you, Thank

you. Thank

Tom. Thanks,

the We closing Instructions] point, [Operator comments. for this have call the end back session. of At the to turn question-and-answer reached I'd like Fields to over Randy

are. questions happy fasten But they to ask seatbelts Operator, thank to We're up. answer come good We feel any where we're -- point. your very thank as really the at you. John, you. we about

buckle-up. everybody, Thank So you.

Thanks, everybody.

concludes conference. today's This

thank time, You and at disconnect for your this participation. we may lines your you