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spk_0: the day as they can sustain a by walking to the near intelligence fourth quarter for your twenty twenty two earnings home at this time or because persona with molly mode athos because presentation there will be a question answer session to ask a question then session you will need the per star one one or your telephone you will then here an automated message devising your hands raised to withdraw your question please for star one one again please be advised that today's conflict is being recorded oh no like him comfortable just because they gwen lover vice president of the solution
spk_1: please go ahead
spk_2: good morning and welcome to near intelligences fourth quarter and four year twenty twenty two earning call this is gwen lauber vice president of investor relations for near with me on today's call are no matthew near chief executive officer and rahul agora all chief financial officer are earning press release was issued earlier this morning and it's posted on our website the primary purpose for today's call is to provide you with information regarding our fourth quarter and four year twenty twenty two performance and offered outlook for the first quarter and full year ending december thirty first twenty twenty three the comments made on this call may include forward looking statements within the meaning of the private securities litigation reform act of nineteen ninety five the forward looking statements are based on management current views and expectations as of today and should not be relied upon as representing our views as have any subsequent date we did claim any obligation to update any forward looking statements or outlook for more information about the risks and uncertainties and bobby news forward looking statements and factors that could cause actual results the very materially from those protected or implied by forward looking statements please see our risk factors and are registration faith been on form as for an accompanying prospectuses as well as are other reports filed with the fcc i encourage you to visit our investorrelations website as investors thought near dot com taxes are full year twenty twenty two press release periodic deputy reports and the webcast replay of today's call finally unless otherwise stated all financial comparisons on this paul will be made to our fiscal year twenty twenty one result when a historical non pro forma basis and with that led me to the call over to anil
spk_3: and they'll thank you for him
spk_4: thank you everyone for joining us on a force building school as a publicly traded company
spk_3: first a tropical financial violence fourth quarter of the was pretty point three million revenue for the fiscal year according to to was fifty nine point seven million not that a mutation for the year one hundred and forty percent which is in line with those thirty feet and a right to petition now as many of you know we completed our business commission on must report
spk_5: and began treating on must work on march report on the the kicker and i are
spk_4: clearly this be mcbride included for us i like to thank our customers partners advisors for the support or the last few years
spk_3: and the believe in what the a both at near and opportunity ahead of us finally i like to send a special thank you for employs around the globe as their work tirelessly to get us to this point for me the journey started into a pro when a coupon for be shukla and i began building near from or singapore office
spk_4: incredible to me to think how far we have come in terms of our solution or custom obese or employees and a jogger for greece in that amount of time today i can't even begin to express how proud i am on all fronts near is a month national organization with offices and customers around the globe
spk_3: one years proprietary solutions are suitable for customers of all sizes and industries the focus primarily on loss customers read him real estate restaurants and tourism we have to me the industry time to be on ongoing three billion which is largely on underpin created
spk_4: near user's speech and did algorithms to speech and enriched data that help enterprise customers did i've intelligence on their customers from their databases
spk_3: or the last few years near as experienced rapid growth looking ahead we believe we can continue to achieve revenue good grew up around thirty to thirty five percent and capitalize on a margin expansion opportunities
spk_4: with acquisitions of accompanying france an accompanying the us near became a truly global company as be integrated these companies into near and prepared to into the public markets be recognized that twenty twenty two was an opportunity to reorganize the company with a good the market share the view that with a
spk_3: lol was to scale more quickly
spk_4: we we aligned and bolster our seats on the issue with sales reps with enterprise software experience who understand what it takes to win and for by few the these refs hit the ground running a few short months that flows multiple these and have added meaningfully to a pipeline which is the fourth quarter was significantly larger than it dozen the same quarter last year a new go to market started is already starting to have profound impact a result and up with you get head
spk_3: in north america in twenty three to our average these days increased twenty five percent or twenty twenty one and globally our average the inside is four times what it was last year
spk_4: in terms of the pipeline by targeting larger companies we have seen our annual revenue putting shell at our target account more than doubled in size year over year
spk_3: this change in our see focus recently left with six figure deal with a major north american but beverage bachmann company while not the norm be able to close deal steal illicit sixty days
spk_4: the new customer will use near to get a better understanding of their customers business by utilizing the data insights that we will provide to better predict the performance of the store locations
spk_3: recently nears largest client and france renew the commitment to us by signing an eight for the view approximately one hundred percent the previous year this might be brand european retail chain uses near to drive football traffic is stores and measure their effectiveness rounders near solutions allows them to get a better understanding of the right catchment area at a store level and delaware appropriate messaging to their prospects and customers
spk_4: we provide them with complete and to and solution the tigers performance measurement narration to i that exceeds the foot we work with child partners as an example
spk_3: in collaboration with the child buckner we just one a four year contract with the state of provide tourism
spk_6: this contract is in continuation of a two year relationship with one of the world's most desired this nation's how i leverage is near to understand is to his visitation patterns and to know which are the top points of interest so to they have a better understanding of it's tourism impact to our violence
spk_3: now like recovery little bit about about a product near allies as data from approximately an estimated one point six billion unique use an idea across seventy million places in more than forty four countries
spk_4: the use proprietary data sources from both a digital and physical was and states this real would get together creating a truly unique value proposition
spk_3: our ability to harness just watched amount of data
spk_4: has allowed us to dull up a deep understanding of consumer behavior on a sustainable persistent basis
spk_3: the days what pizza winning fly view as more customers use a platform the better the data becomes and a better the algorithms become is based on am a mass from feedback loop
spk_4: much of this proprietary data is excluded us this unique a days then stitched and enriched with our first party and could party data sources this process allows us to provide better business outcomes and provide full stack offerings to our customers which than for the allows us to acquire new customers the flybys means that the more customers we get the better on gardens become
spk_3: and that's how winning many like it and that is why we believe we are able to do things like anyone else a coal value proposition isn't taking a rich datasets and then building models this is that the real values right we we aim to reduce the cost of expiration of our customers to for insights like dwell time at a location and the number of footfalls that finding a place
spk_4: because they they never complete the whole estimation like cycle on these properties
spk_3: he's one of the core offerings and product
spk_4: in a moment i turned to call our to our see a for rolla girl all but before i do i want to address one more point for most of our prospects we're not trying to replace an existing system in many many cases is the first time the customers considering using technology to get richer understanding of customer behavior
spk_3: many companies that do not realise that with our operation to diligence like for example developer to replace cake methods like physically counting people with clickers with a solution that allows them to access real time data it's kill with high accuracy near to trusted independent provider of aggregated anonymised data on people and places offering you need marketing to use an operation players solutions to an underpaid created market
spk_4: we believe our relationship with our customers a strong and a productive sticky coupled with our land and expand go to mock a strategy i believe me or has a great opportunity ahead of us
spk_7: now had a tunnel with the called to my colleague rollo grow up thank you on him and good morning everyone
spk_8: for the fourth quarter of a twenty two gap have any was fifteen point three million dollars up five percent year over year
spk_7: but a full year revenue was fifty nine point seven million dollars mocking a thirty two percent growth from the year ago period
spk_9: revenue from subsection customers typically makes up approximately ninety percent of our top flight for the full year twenty twenty two it was eighty seven percent
spk_7: net revenue detention or in iraq
spk_9: measures are success in retaining and growing revenue from an existing customers in our was one thirty percent for twenty twenty two which is largely consistent with are expected long term steady state goes for in iraq
spk_7: now looking at some key profitability metrics gross profit
spk_10: was ten point seven million dollars in queue for of twenty twenty two representing a seventy percent glass profit margin
spk_7: moving forward
spk_9: we expect the gap glass profit margin to be relatively steady in a fifty eight to seventy two percent range buying any unusual items
spk_7: sales and marketing costs less five point one million dollars in queue for of to a notable increase from four point two million dollars in the by year period as reorganized and skill or good market strategy id expenses that five point six million dollars in queue for of twenty twenty two up from four point nine million dollars a year ago in queue for they they one in five you to continued investment in bolstering our technology stack
spk_9: jian expenses that seven point seven million dollars in queue for of twenty twenty two up from five point three million a year ago in part due to certain transactional related expenses and as we continue to enlist in our journey of becoming a public company
spk_7: all costs and expenses lane line with our plan budget for you for twenty twenty two
spk_9: gap operating loss fuck you for twenty twenty two was ten point four million dollars and gap net loss was twenty point eight million dollars for the your really a gross profit a forty one point one million dollars a sixty eight point seven percent gross profit margin
spk_7: total operating expenses came in at one twenty five point one million dollars up eighty three point three million from the bride it the majority of the increase is related to stop based compensation which i'll explain further in a moment
spk_11: gap operating loss for twenty twenty two was ninety three point nine million dollars and gaap net loss was hundred and four point two million dollars
spk_9: stock based compensation was one point seven million dollars and queue for and fifty six point five million dollars for twenty twenty two
spk_7: in advance of the business combination with to me
spk_9: we one restructured articles from singapore headquartered company to a us domiciled one and two converted are employed option plan into a new artist you plan which resulted in a one time charge of sixty two point five million dollars
spk_11: in the second quarter of twenty twenty two looking at the t balance sheet items we ended a quarter with sixty one million dollars in cash and cash equivalents and twenty six million in negotiable
spk_7: articles you feel balance is elevated due to delete collections we experienced during our the organization in the first opportunity to we expect our a are balances to normalize by the middle of twenty twenty see
spk_11: i taught to outstanding debt based on gap as on thirty first december twenty twenty two was eight point four million dollars
spk_9: turning to cash flow the castro used for operations in twenty twenty two was twenty six point seven million dollars
spk_7: moving to an outlook but you one he kindly expect revenue to be in the range of fifteen fifteen point five million dollars for the fiscal year twenty twenty three be going to extend the revenue to be approximately eighty one million dollars in summary we're excited by the park in front of us today and a solid demand for are solutions
spk_10: our overall compounding good for the tree remains on track and we believe we have sufficient cash to support our organic good initiatives
spk_7: and er well funded to support our part to profitability
spk_12: and now i would like to turn the gone over to the operator for questions thank you
spk_0: thank you as a reminder a question please press star one one eye a telephone and wait for your name to be announced right question please first star one one again please them out how the join a roster
spk_13: as for squashing us on the line of my latimer more not when capital markets she line is and
spk_14: pizza here at can read time now and the in public
spk_13: i'm back it so i guess just on the drink you talk a little bit about the growth rate in the fourth quarter think it's five percent your guiding the thirty five percent growth for ah fiscal twenty three year key to talk about the yeah
spk_15: can the change in growth rate there you know the build from by percent to thirty five percent like what drives that
spk_16: sure
spk_17: this is our hope so
spk_7: i read me we made significant investment in pretty twenty two in our sales and marketing team as ah on you had pointed out the result of that is a higher
spk_11: a larger deal conversion higher revenue from ah you're gusto that the a lot new and each one of these will result in getting us to the put if i was in good the inner of twenty was one twenty percent is also going to help us lambeau revenue
spk_13: and get us to eighty one million dollars of expected to play number that be distributed between
spk_18: and the guidance is all organic growth is that correct
spk_13: yeah that is correct
spk_11: i get very and on the he talked about it fails force and for a man for your what what corridor to that have that but when did add a car with quarter to that occurrence the reorganization occurred in you to have twenty twenty two
spk_7: after that we invest in the salesforce we have hired most of the seal team members across different functions are beat customers or to be is the i'll be doggone trips between august of two twenty two and december of tweeting to and that the team which is fully dammed up and start
spk_13: the to deliver it you will have to see it right right and then on the am and our number one hundred and twenty percent very strong obviously he had with a that of the driver of that is it you know wider yourself
spk_11: the same offering within a company as a more products is it more day and data will what's the biggest driver of and are are here
spk_7: yeah it's driven primarily on two fronts one is expanded usage as the customers start using our product start to see the result they are more comfortable with renewal and increasing the amount of renewals you know both in terms of
spk_19: no offering that near has to offer to customers in terms of products
spk_11: and and
spk_13: secondly in terms of the overall expansion they're buying more data points more insights from the same products the main reason to use in the black vote and if last one out from a technology perspective can you talk about the area step the stitching reaching model act measure
spk_20: modeling clearly has a fair amount of artificial intelligence behind it but key talk about just he is an ai across your by farm and seems like it when in fact almost every phase we talked about their
spk_4: yeah of his or her yeah so basically what you're doing is was just to is to give you some context yeah you're looking at them massive amounts of data that intellectual units important the digital and physical would call world he this and then the giving running moderates on this fence and was talking to company
spk_17: well as you know each of this modern single require revisiting and defining felt where we have reached the day is that the and lot decades the even expedient as as though if
spk_21: in fact we have been using and in a lot of machine learning a lot of algorithms that of have does switch
spk_4: in offer offer
spk_3: in a sort of our platform for both have issued elegance and marketing to lose because they have seven kittens
spk_13: in i'm or out in the pipeline they have a beacon the technology that they've been using i'm definitely looked bad with a lot of the evidence
spk_22: target thanks how much good luck with your lot
spk_0: thank you
spk_13: our next question cancer nine of for i and up yeah less way a malaria line is how and
spk_23: as an thanks for taking a question and i i think you mention that your customers are landing at a larger size am cleanest maybe elaborate on that below that that are they planning with multiple products about the marketing an operational side of it or the just in a single product their landing with that
spk_4: hi used as what's driving that dynamic yeah the actual you sell so the way to look at this is we we have a land and expansion is he a bear we going to customer and tickets telling okay
spk_24: and let's see that you want to analyze
spk_3: the up from a small region
spk_4: let a california it was southern california it would see that as of late and they will say okay let's expand to florida less i feel and that is one one point of expansion the other one is in cases the are also doing a lot of sort of cross the line between a collapse of we would land with an operation colleges piece by the a working with to get out because you can only up with is a chief information officer and expand to our marketing italy is operate which is typically aimed at massacres know that that the cmos office this has allowed us to start a land and expand as much in some cases that our customers that get started out you know it is twenty nineteen went down in a with like hundred thousand dollars an now as an authentic seven i got a customized you know one of the largest customers in france which is a big a deal two years back at was just started out with just a me a lot of self
spk_25: so that is a significant line and expand opportunity what appear to fight and be as seem that across multiple regions the cosmic multiple what tickets
spk_21: i've had i've got a couple and then
spk_11: ah is there any route for new york again is there any seasonality and the business that we should consider particularly as we look at the queue for results versus what happened for the foyer of twenty two and what your guiding to for twenty twenty three as well
spk_9: i'm just because to black family subscription based obviously ill did there isn't really a lot of seasonality but typically you know given you still have ah a significant amount of marketing dollars which kind of expire by the end of the year you might see our an increase in spends but particularly lillian que
spk_17: before on them over macklin lanman the it budgets of customers but we have seen in the past especially in queue for of twenty twenty one as an example there there was significant all usage on the platform you know most likely because customers were had extra budget and day they wanted to you know in this more and and good mood it out of platform so
spk_23: otherwise uninformed i'm from an all black from point of view planning point of view of the kiddies around been beaten football quarterback dismal seasonality it as it
spk_4: okay i've got a couple and an last one for me just i'm dead got a market side where are you in their hiring strike or right now or are there more wraps that you something to bring on our is that team more or less fully built out at this point yeah think have fought for for us to achieve our numbers for this of yeah
spk_17: in a at your capacity in place
spk_26: we we would continue hiring far all year
spk_3: we do have
spk_4: just recently like rahal and mission we invested heavily in already on the him so by that it has given generous the are our contracts we have already done that and so
spk_23: as did nothing of it is know what i still i require bar or this year's objective just district can
spk_22: i had that makes sense of am thank you guys getting the question your luck
spk_0: thank you
spk_3: that was our last question now i like can call back and year for canal march
spk_4: like a operator and and thank god for johnny asleep
spk_0: and i look forward to speaking with you do in order this is today's cough cough thank you for participating you may now kiss can act good day as they can sustain a by walking to the near intelligence fourth quarter for your twenty twenty few earnings home at the time or because most analysts a mode after because presentation there will be a question answer session that's a question then session you will need the press star one one on your telephone you will then here an automated message advising your hands raised to withdraw your question please for star one one again please be advised the trees conflict is being recorded oh no like him a comfort just bigger they
spk_1: gwyn lover vice president of the solution
spk_2: please go ahead good morning and welcome to near intelligences fourth quarter and four year twenty twenty two earning call this is gwen lauber vice president of investor relations for near with me on today's call are no matthew near chief executive officer emre whole aggro all chief financial officer our earnings press release was issued earlier this morning and is posted on our website the primary purpose for today's call it to provide you with information regarding our fourth quarter and boy year twenty twenty two performance and offered outlook for the first quarter and full year and in december thirty first twenty twenty three the comments made on this call may include forward looking statements within the meaning of the private securities litigation reform act of nineteen ninety five the forward looking statements are based on management current views and expectations as of today and should not be relied upon as representing our views as have any subsequent date we disclaim any obligation to update any forward looking statements or outlook for more information about the risks and uncertainties and bobby news forward looking statements and factors that could cause actual results the very materially from those protected or implied by forward looking statements please see our risk factors and are registration fee been on form as for an accompanying prospectuses as well as are other reports filed with the fcc i encourage you to visit aren't as relations website and investors thought near dot com taxes are full year twenty twenty two press release periodic guess if you reports and the webcast replay of today's call finally unless otherwise stated all financial comparisons on this call will be made to our fiscal year twenty twenty one result when a historical non pro forma basis
spk_3: and with that let me through the call over to anil and they'll
spk_4: thank you for him
spk_3: thanks everyone for joining us on up for sony school as a publicly traded company first was tropical financial violence fourth quarter revenue was pretty point three million revenue for the fiscal year according to to was fifty nine point seven million net revenue redemption for the year one hundred and forty percent which is in line with those dirty food and or our expedition
spk_4: well as many of you know we completed our business commission on must report and began treating on must work on march report on the the kicker an eye are
spk_3: clearly this be like exciting food is worse i'd like to thank our customers partners advisors for the support or the last few years and a believe in what the a boat at near and opportunity ahead of us finally i like to send a special thank you for employs around the globe as their work tirelessly to get us to this point
spk_4: for me the jury started into a pro when a coupon for the sugarloaf and i began building near promotion the war office incredible to me to think how far we have come in terms of our solution a customer base or employees and a jogger for progress in that amount of time today i can't even begin to express how proud i am on all fronts
spk_3: near is a month lateral organisation with offices and customers around the globe one years proprietary solutions are suitable for customers of all sizes and industries the focus primarily on last customers who reach him real estate restaurants and tourism
spk_4: we estimate the industry time to be an ongoing two billion which is largely on underpin created
spk_3: near use a speech and did algorithms to speech and enriched data that help enterprise customers did i've intelligence on their customers from their databases or the last few years near as experienced rapid growth
spk_4: looking ahead we believe we can continue to achieve revenue got grew up around you to thirty five percent and capitalize on a margin expansion opportunities
spk_3: with acquisitions of accompanying france and accompanying the us near became a truly global company as be integrated these companies into near and prepared to enter the public markets be recognized that twenty twenty two was an opportunity to reorganize the company with a good the marcus fairly good that would
spk_4: allow us to scale more quickly we we aligned and bolstered our seats on organization issue with sales reps with enterprise software experience who understand what it takes to win intra by few the sales reps hit the ground running in few short months their flows multiple these and have added meaningfully to a pipeline which is the fourth quarter was significantly larger than it wasn't the same quarter last year
spk_3: a new go to market started is already starting to have profound impact a result of and up with you get head
spk_4: in north america in twenty three two our average these days increase twenty five percent or twenty twenty one and globally our average inside is four times what it was last year
spk_3: in terms of the pipeline by targeting larger companies we have seen our annual revenue putting show at our target account more than double in size year over year this change in our sleeves book was recently like with six big a deal with a major north american bar beverage bachmann company
spk_4: while not the norm be able to close a deal in less than sixty days
spk_3: the new custom of and use near to get a better understanding of their customers business by utilizing the data insights that we will provide to better predict the performance of the store locations recently nears largest client from france renew the commitment to us by signing an eight for the view up approximately one hundred percent or previous year this multi brand european retail chain uses near to drive football traffic is stores and measured effectiveness rounders
spk_4: near solutions allows them to get a better understanding of the right catchment area at the store level and deliver appropriate messaging to their prospects and customers
spk_3: we provide them with complete and to and solution the tigers performance measurement
spk_4: in addition to our exceeds the foot we work with child partners as an example in collaboration with a child buckner we just one a four year contract with the state of have i tourism
spk_3: this contractors in continuation of a two year relationship with one of the world's most desired destinations hawaii leverage is near to understand his toys visitation patterns and to know which are the top points of interest so to they have a better understanding of it's tourism impact to our violence now like to talk a little bit of a about a product
spk_4: near allies as data from approximately an estimated one point six billion unique user id across seventy million places in more than forty four countries
spk_3: the use proprietary data sources from both a digital and physical was and states this real would get together creating a truly unique value proposition
spk_4: our ability to harness just watched amount of data
spk_3: has allowed us to dial up a deep understanding of consumer behavior on a sustainable persistent basis the days what pizza winning fly view as more customers use a platform the better the date of the gums and a better the algorithms become is based on m a master feedback loop
spk_4: much of this proprietary data is exclusive to us this unique days then stitched and enriched with our first party and party data sources
spk_3: this process allows us to provide better business outcomes and provide full stack offerings to our customers which then for that allows us to acquire new customers the flybys means that the more customers we get the better algorithms pick up and that's how many many black and that is why we believe we are able to do things like anyone else a coal value proposition isn't taking a rich it affects and then building models this is that the real values right we we aim to reduce the cost of expiration of our customers to inferring sites like dwell time at a location and the number of footfalls that finding a place
spk_4: because they they never complete the whole estimation like cycle on these properties is one of the core offerings and opera in a moment i turned to call our to our see a for rolla girl all but before i do i want to address one more point for most of our prospects we're not trying to replace an existing system
spk_3: in many many cases is the first time the customers considering using technology to get richer understanding of customer behavior
spk_27: many companies that do not realise that with our operation diligence are like for example developer to replace archaic methods like physically counting people with clickers with a solution that allows them to access real time data to kill with high accuracy
spk_3: near to trusted independent provider of aggregated anonymised data on people and places offering you need market intelligence and operation players solutions
spk_4: to an underpaid created market
spk_7: we believe our relationship with our customers are strong and a productive sticky coupled with our land and expand go to mock a strategy i believe me or has a great opportunity ahead of us now had a tunnel with the called to my colleague rather up
spk_8: thank you on him and good morning everyone
spk_7: for the fourth quarter of a twenty to gap revenue was fifteen point three million dollars up five percent year over ear but a full year
spk_9: revenue was fifty nine point seven million dollars mocking a thirty two percent growth from the year ago period
spk_7: revenue from subsection customers typically makes up approximately ninety percent of our top lane for the full year twenty twenty two it was eighty seven percent
spk_9: net revenue detention or in iraq
spk_10: measures are success in eating and growing revenue from an existing customers
spk_9: in our was one thirty percent for twenty twenty two which is largely consistent with are expected long term steady state gulf for in iraq
spk_7: now looking at some key profitability metrics across profit
spk_10: last ten point seven million dollars in queue for of twenty twenty two
spk_7: representing a seventy percent glass profit margin
spk_9: moving forward we expect the gap glass profit margin to be relatively steady in a fifty eight to seventy two percent range buying any unusual items
spk_11: sales and marketing costs less five point one million dollars in queue for a to
spk_7: are notable increase from four point two million dollars in the by year period as reorganized and skill or good market strategy
spk_9: id expenses
spk_7: that five point six million dollars in queue for of twenty twenty two up from four point nine million dollars a year ago in queue for they they one in five you to continued investment in bolstering our technology stack gl expenses less seven point seven million dollars in queue for of twenty twenty two up from five point three million a year ago
spk_9: in part due to certain transactional related expenses and as we continue to enlist in our journey of becoming a public company
spk_7: all costs and expenses lane line with our plan budget fuck you for twenty twenty two gap operating loss fuck you for twenty twenty two was
spk_9: ten point four million dollars and gap net loss was twenty point eight million dollars for the year
spk_7: lady put a gross profit a forty one point one million dollars a sixty eight point seven percent goes profit margin total operating expenses came in at one twenty five point one million dollars up eighty three point three million from the bride it
spk_11: the majority of the increase is related to stop based compensation which i'll explain further in a moment
spk_9: gap operating loss for twenty twenty two was ninety three point nine million dollars and gaap net loss was hundred and four point two million dollars
spk_7: stock based compensation was one point seven million dollars in queue for and fifty six point five million dollars for twenty twenty two
spk_9: in advance of the business combination with to me
spk_11: we one restructured articles from a syllable headquartered company to a us domiciled one and two converted are employed option plan into a new artist you plan which resulted in a one time charge of sixty two point five million dollars in the second quarter of twenty twenty two
spk_7: looking at the t balance sheet items we ended a quarter with sixty one million dollars in cash and cash equivalents and twenty six million in negotiable
spk_11: articles you feel balance is elevated due to delete collections we experienced during our the organization in the first opportunity to we expect our a are balances to normalize by the middle of twenty twenty see
spk_7: i taught to outstanding debt based on gap as on thirty first december twenty twenty two was a eight point four million dollars turning to cash flow the castro used for operations in twenty twenty two was twenty six point seven million dollars moving to an outlook but you one he kindly expect revenue to be in the range of fifteen fifteen point five million dollars for the fiscal year twenty twenty three be going to extend the revenue to be approximately eighty one million dollars in summary
spk_10: we're excited by the park in front of us today and a solid demand for are solutions
spk_7: i overall compounding good for the tree remains on track and we believe we have sufficient cash to support our organic good initiatives
spk_12: and er well funded to support our part to profitability
spk_0: and now i would like to turn the gone over to the operator for questions thank you thank you as a reminder a question please press star one one eye and how fun and wait for your name to be announced try a question please fresh star one one again
spk_13: please them out how the join a roster
spk_14: as for squashing us on the line of my claddagh more with not when capital markets she line is helping
spk_13: don't think you can read time now and the in public i'm back it so i guess just on the drink you talk a little bit about the growth rate in the fourth quarter think it's five percent your guiding the thirty five percent growth for
spk_15: ah fiscal twenty three year key to talk about a year
spk_16: and the change in growth rate there you know the build from by percent to thirty five percent like what drives that
spk_11: sure
spk_17: this is our hope so
spk_9: i mean we've made significant investment in pretty twenty two in our sales and marketing team as ah on he had pointed out the result of that is a higher
spk_17: a larger deal conversion
spk_13: higher revenue from ah your customers if you're locked new and each one of these will result in getting us to the thirty five was in good the in our of twenty was one twenty percent is also going to help us lambeau revenue and get us to eighty one million dollars of expected to play number that be
spk_18: estimated between
spk_13: and the guidance is all organic growth is that correct
spk_7: yeah that is correct
spk_11: i get very and on the he talked about that fails force and man for yard what what corridor to that have the but when did that occur with quarter the that occurrence the reorganization occurred in you to have twenty twenty two
spk_13: after that we invest in the salesforce we have hired most of the sales team members across different functions are beat customers or to be as the i'll be doggone trips between august of two twenty two and december of two way to and that the team which is fully dammed up and scott to deliver done into one of the it right right and then on the am
spk_11: and our number one hundred and twenty percent very strong obviously he couple other that just the driver of that is it you know wider yourself
spk_7: the same offering within a company as a more product is it more day and it what what's the biggest driver of and are here
spk_19: yeah it's driven primarily on two fronts one is expanded usage as the customers start using our product thought to see the result the are more comfortable with renewals an increasing the amount of renewals you know both in terms of
spk_11: additional offering that near has to offer to customers in terms of products
spk_13: and and
spk_28: secondly in terms of the oval expansion they're buying more data points more insights from the same products the main reason to use in the black vote
spk_17: and if last one out from our technology perspective hear you talk about the area stuff the stitching reaching model act measure i'm modeling clearly has a fair amount of artificial intelligence behind it but key talk about just he is an ai across your five it seems like it would be back
spk_3: almost every phase we talked about their
spk_4: gotcha of his i guess
spk_29: so basically what you're doing is just distant is to give you some context yeah you're looking at them massive amounts of data that in on that it's important that digital and up as a would call it does and then the get be running models on this fence fence
spk_17: was talking to company though as you know each of this modern seen all require revisiting and defining felt where we have reached today is that the and large decades or even expedient as as though is
spk_4: the pair
spk_21: we have been using in a lot of machine learning
spk_4: lot of gardens that of how does which
spk_17: we have the offer offer
spk_13: in a sort of our platform for both have issued elegance and marketing market intelligence with to they have seven kittens
spk_22: in or out in the pipeline with of a week the technology that they've been using i'm definitely look bad a lot of the ipad he's
spk_0: i thanks how much good like the here
spk_23: a love thank you
spk_4: our next question cancer nine of ice and back to i was liable area like falcon as an thanks for taking a question and i i think you mention that your customers are landing at a larger size am can my the elaborate on that below that is that are they planning with not products about the marketing and operate on side of it or the just in a single product their landing with that high i are used as what's driving that dynamic yeah that backs up assume so
spk_30: so the way to look at this is we we have a land and expansion is he a bear we going to customer and against telling okay
spk_3: let's see that you want to analyze
spk_31: data from a small region
spk_4: let a california it was southern california it would see that as of life and they will say okay let's expand to florida less ideal and that is one one point of expansion the other one is in cases the had also been a lot of sort of cross the line between a collapse are we would land with an operation intelligence piece by the a working with to get out because you pick on the because are keeping commission officers and expand to our marketing italy is offering which is typically aimed at marketers know that that the cmos office
spk_3: this has allowed us to sort of land and expand customizing in some cases that our customers by get started
spk_25: have you know it is twenty nineteen were found in a with like hundred thousand dollars than now as as a seventh pick any other customers in one of the largest customers in france which is a big a deal
spk_21: two years back at us just started down with just a me a lot of self
spk_11: so that is a significant line and expand opportunity what appear to find a and be a seem that across multiple regions the my multiple what tickets
spk_9: i've had i've it that hello and then ah is there any route for new york again is there any seasonality and the business that we should consider particularly as we look at the queue for results versus what happened for the full of twenty two and what your guiding to for twenty twenty three as well
spk_17: i'm just because the platform family subscription based obviously ill did there isn't really a lot of seasonality but typically you know given you still have a significant amount of marketing dollars which kind of expire by the end of the year
spk_7: you might see our an increase in spends particularly in que
spk_23: go on them over macklin lanman the in budgets of customers
spk_4: but we have seen in the past especially in queue for twenty twenty one as an example there there was significant all usage in the platform ah you know most likely because customers were had extra budget and day they wanted to you know invest more and and get more did out of platform so otherwise unemployment from an all platform point of view planning point of view of the kiddies or of amp been beaten football quarterback dismal seasonality it as it
spk_17: okay i've got a couple and an last one for me just i'm dead got a market side where are you in their hiring cycle right now or are there more reps that you something to bring on or is that team more or less fully built out at that point
spk_26: yeah i think of for far for us to achieve our numbers for this
spk_3: yeah
spk_32: in a at best in place
spk_4: we we would continue hiring far all alia
spk_23: if we do have
spk_0: just recently like rahal and mission we invested heavily in already on the issue so by that it has given generous the hours are are contracts we have already done that
spk_3: and so
spk_4: it did nothing additional what i still i require bar or this year's objective the district can
spk_0: bet that makes sense of i am thank you guys hitting the question your luck
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