Anaplan, Inc.

Q3 2022 Earnings Conference Call


spk_0: good afternoon my name is emma and i'll be accomplished operator today at this time i would like to welcome everyone who the anna plan third quarter and when he twenty two that girl earning on conference call online hadn't python you prevent any background noise after that because i'm mark there will be a question and answer session if you like package question during that time and we press star although the number one on your phone keypad if you like to withdraw your question again press star thank you i let it go you may begin your home front
spk_1: good afternoon think if joining of unpaid common open up on a plane that quarter or year when it when he a though going on the call a frank i'm running a people that live up here in the car maker or key financial anthony call we will review a third quarter with glee your twenty twenty cuteness rebuild and other financial guidance for the fourth quarter and go year twinkling you please note that the information the club on the core particularly or guidance is based on information at the them the twenty third twenty twenty one and paint forward looking statements involved with uncertainty than the functions including those related to the continued impact of clothing nineteen on our business and global economic condition a guide and will provide to they've they've been our functions as the the macro economic environment in which we will be operating the the from his are based on the fact we know today many the the from should really come added that are beyond our control and paving rapidly including but not limited to the group and effectiveness of precautionary measure the by the campaign to prevent the spread of clothing line pain because he impact the groove nine pinnacle of put in decisions and the length of i feel like a particularly big catholic and geography please refer to document we fall with sep your queen of form a pay filed with her they've personally the documents campaign with than other factors that make or their actual rebuilt forgive her from the campaign going forward looking statements before looking statements are being made as the day and we did claiming obligation to appear bit revive the statement is the college of europe they the information presented during the cold may not be current are accurate
spk_0: we were all the cuff non get financial measures we can not have head in accordance with generally accepted accounting quintuple unless otherwise stated during the call all references progress margin and and operating go or on a non got the who
spk_1: darko period a reconciliation of gap and on get the gold me provided the pressure leave and in supplemental financial information on our website and with that i will now can call over to crank out of money
spk_2: thank you at a leader good afternoon everyone and thank you for joining us today we delivered a college quarter driven by healthy the volume pipeline growth and increasing interest than our platform or que three revenue grew thirty five percent year over year and we've got sixty seven percent of new booking from existing customer we now have over eighteen hundred total caught them or which include half of the fortune fifty and we continue to invest in innovation that the vicar airplane of the preferred enterprise planning pride from with joy from a new customer perspective we grew over fifty percent year over year and welcome cut them or that you can be the sure acre network healing the namco and all value holding they represented a wide range of industry from ensure an apathetic the and professional very good to repeal and technology one of our new customers it royal london at the management which is a leading fund management company in the uk in response to the company impressive growth and new regulations around profitability reporting they needed a robust and flexible platform for revenue and acted under management analysis anna plan offered enhanced reporting capability ability to run scenario and theft calculation performer you than granular data i'm also pleased to share that one of our partner is a customer at well the lawyer in the us and canada have collected and a plan to enhance their financial planning property to increase time that on strategic analysis of a product management our of the murder quickly realizing the value of our platform in fact our new a customer cohort from a year ago had increased it initial a are are over thirty percent companies continue to ban with and a plan for the digital transformation to the port to finance evolution and dry bit with agility a multinational food company leveraged and a plan they killed a platform for gullibility perform and flexible canario modeling and partnership with google cloud the customer will collect operational planning with financial outcome a dry productivity gains and caught bathing eliminate google get sick from the record and identify rapidly market opportunity another that and of quarter was with a clinic the world's largest digital infrastructure company and long time and a plant customer and twenty pick pain it when it began it planning transformation journey with dealt perform management a year ago and response to strong market demand for data center capacity they expanded into reply came and procurement planning last month equal neck the left it up for their work for planning initiative to prepare for a labor for at the right car and time in addition a longtime customer vm were expanded quarter to fail pigmentation and by it integrating more of planning across the company demonstrate greater agility and precision which lead the better outcome finally a prank manufacture those see pay big began their anna plan for journey with fp in a and twenty nine came they banned it into the by came with and opie and the man planning vehicle leverage and a plan for a trade promotion planning connect the my performance across product line they will manage promotion that aggregate and detailed level in a single environment providing better visibility and flexibility the up the my plan with the land that expand example the common element is how customers are leveraging planning as a competitive advantage they understand the need for strategic planning across there and a private and we are helping them with our investment and partner ecosystem and cut them are thick the as well other than motion are we can churn rate was the highest it has been in nine quarters and with customer loyalty company creeping need for and a plan retorted are eager to get them a third a bike and a plant ekberg continued to grow with the total number of thirty five mile building in creeping eighty four percent year over year
spk_3: we also capital i dark cloud partnership
spk_2: the relationship have been instrumental record go quickly and if quarter we launched and a plan on google cloud in japan they pick now a partnership enabled our customers to quickly deploy an that and a plan on google cloud platform infrastructure with low latency it here today to resident the an act that you're a i and ml capability he vpn tokyo launched without per customer a leading financial pivoted institution overall i'm excited about the market opportunity and the feedback from our customers about how are innovative platform is robbing the complex challenges being the leader in the planning they continue to work in our favor to further expand tender lead earlier this month and a plan live we introduced the and a planet parliament and upright five years ago we disrupted traditional planning and pioneered connected planning it was validated by gardeners market guy now we're hearing thing another paradigm shift had a environment is in constant pain supply chain disruption the future of work inflation a federer as organization operate with distributed team they need a dynamic planning pollution get required a real time gullible in pelican approach to plan and alive and hack and a planet parliament and upright dark with modeling and act that the a panel data can make real time deficient which we integrate into our platform the and a plan cloud work it didn't even know code feature that enable didn't you have to import data from many sources including amazon web services at three a a blob dory and google be query together with a partner eager to become more than two hundred and hit the and a private have already and break that work and they have executed more than thirty two thousand and integration next weekend or platform with embedded intelligent capability like and a plan plan like you with and the been forecast the joint effort provide their customers with automated easy to you intelligent forecasting using elegant a i am now capability after that we simplify the most complex problem across the market enterprises with gale we recommend it it and a plane polaris our next generation calculation engine with unparalleled multi dimensionality including feeding pen quick pillion fell while he currently managing arkady early active with the lack of them are that underway and week that can make it generally of the and twenty twenty kill our economy and upright strategy a simple develop the most innovative planning platform the power the fact that decision with it investment in the next day of planning i am confident we can further our customers pick their with greater agility and in helping him within one
spk_4: hit the kid platform
spk_2: in summary we are well positioned with go to market and product effort especially if we head into our biggest quarter we couldn't do that without accounting employed and i'm also proud that we have been recognized on think the inaugural popcorn hit the best like company lived for twenty twenty one thank you to employed for making and a plan the company that today now let me turn over the call that the car who will got our third quarter financial and provide our outlook for the fourth quarter an ethical year twenty twenty two as well as a preliminary guide for pit bull year twenty three because
spk_5: thank you frank i'm pleased to report or third quarter either we beat the high end up or revenue building and operating margin guide and total revenue one one hundred and fifty five million up party five percent year over year we ended up keeping revenue grew thirty percent and comply ninety percent of total revenue hoping for that and you're sixteen million or ten percent of the total with did within back at that range from a geographic respective international operations which we define a were any i'm a that with it president and approximately forty five percent of total revenue the top brought be year over year growth across all and with america's revenue up thirty four percent in the are up thirty six back and a back up what he went back the helping you meal them are growth bill volume and wrong renewal rate other me oddity improve the green chili the water we had where do you over one million compared to lock water given the longer into right field biker the that variability in the timing of like bill and the a pain in the back you now have by hundred and twenty eight got cameras with a are over two hundred and fifty thousand president in twenty seven percent growth year over year additionally the number of customers with ya dot org five hundred thousand and one million in green party to protect and peggy nine percent year over year actively dollar be a medic banking rate or and on what one hundred and nineteen percent demonstrating the i need to act and planning to other areas be on an m in addition to delivering year over year growth in the volume of the u of m retention rate remain healthy looking at our performance metrics calculated billing by the part water was one hundred and eighty three million up going be picked the thank you had already yet remaining performed obligations are out of your exiting the third quarter one nine hundred and twenty three million up the pipe and over lafayette
spk_6: the current portion of our feel that is expected to be recognized that revenue over the next twelve months four hundred and ninety million up twenty eight by thank you know what yet a dick a flood water yeah back to he continued variable been calculated billing and he of your booking group rape we've gone differently the timing of building was booking or then you'll end up like a renewal
spk_5: we recommend looking at both billing and he of your booking metric on a killing twelve month be that which will help normalize while the timing differences on appealing to element be that billings group party to prevent and prp oh booking group party percent year over year and he the clear indicator of the underlying growth in our business going to margin total non gap gross margin what seventy five percent less than one percent lower yet over what yet given by i'll go with revenue make and in recommend can would be the offenders and public cloud within the have griffin gross margins where eighty three percent and thirty two gross margin what approximately four percent all the near dumb our gross margin will include the initial impact of a gradual increase in the cost of with the coveted to reflect the impact of ramping our public cloud you that non gaap operating margin for the park wonder what negative four point four percent deflecting and approximately one percent improvement compared to negative by point three percent in the pain period last year operating margin be going to pick asian reflecting followed revenue the like and shifting opic benefit from hugely to cure for net loss or here in the third quarter what made it a fight then moved on one hundred and forty seven million great that every change going to the balance sheet and capital capital for the third quarter was negative one million and the exit at the quarter with pretty hundred and twelve million in cash and cash equivalent moving toward outlook the export quarter of fiscal two thousand and twenty two revenue in the range of one hundred and fifty four two hundred and fifty five million and it the the backup good revenue to be approximately one hundred and forty three million and coveted revenue to been the range of eleven to twelve million and will continue to manage pivotal revenue within our target range of approximately ten percent of total revenue non gaap operating margin for the fourth quarter is expected to be in the range of negative pen good negative eleven percent leaving for the fourth quarter are expected to be in range of two hundred and thirteen million to go hundred and forty million it implied hear what he had a growth rate in the range of twenty three to twenty four per tank billing from a cleaning to element be that the make point about you for billing guide and would you prevent twenty eight percent year over year growth and mentioned lafayette believe in que hora the prior year included a four point four encourage people of and and live as a large upfront payment for a multiyear contract
spk_6: that between the three point field and
spk_5: and you can either the lot more behind the billing metric and under ten deadly it can become confusing is a reminder we interviewed billion with a the guidance metric at the beginning of f y twenty one due to the uncertainty of the environment
spk_6: we the drew the annual revenue guidance and target providing billing guide and and then interim bracket
spk_5: now almost two years later we believe that the good time to replace watergate building a the guidance metric we believe he are your reflect the underlying operating broke any the better leading indicator then billing it normalizes timing and duration night that get him back
spk_6: quarterly building
spk_5: next quarter we've got providing quarterly not your guy them what you want a by twenty three what the full year the are raising revenue guy them to be in range of five hundred and eighty three point five million to five hundred and eighty four point five million up from five hundred and seventy one point five million to five hundred and seventy three point five million the back non gap operating margin for the pool yet to be fifty be this point better than other previous guide and in the range of negative seven point five percent negative eight point five percent finally weighted average shut down for the fourth water and fiscal year they acted to be approximately one hundred and forty eight million shares and one hundred and forty six million respectively why do we have yet to conclude our fiscal year two thousand twenty three plan by go you would like to provide a preliminary view as they remain confident in our long term ability and the value that between two i got them are be at that we are currently planning for preliminary peculiar two thousand and twenty three i haven't you have seven hundred and thirty million representing twenty five percent year over year growth we continue to monitor a bit of global recovery and the impact labor and cup like and shortages could have another comers we remain focused on helping them delivered productivity game a critical poker or businesses as the operate in an inflationary and lineman in somebody with our vision for the autonomous and decry we are uniquely positioned as the leading and deprived platform that and father's business with to turn on and change into a strategic advantage frank and i thank our employees for the hard work and commitment and we look ahead to clothing out the it clear that that let now open it up for question
spk_0: at this time i would like to remind everyone and are going to ask a question pastime and the number one on your car keep i your first question comes from the line of kirk matter and with ever car your line of how okay
spk_7: yet they hurt so much and the holidays everyone parker's just where you could start by talking about her that i get the brookings that quarter of a play the quarter revenue this is withdrawn going to given the after market reaction is from know you heard the building number the weaker than expected to not professional services perform at croke he just walk her that i know because are some about the permutations that impact that but yeah from your view how did you think the corner went from application perspective that
spk_2: the help her think for the question and have he already had one it well at money to give an overview on a quarter and then i'll turn over kinda caught her kind of go to live in one building up for your question
spk_8: you know by if i look back over the third quarter you know
spk_2: have you tagged in their prepared to mark we're helping the a volume and we offer thought improved when he already quarter on quarter we all go ahead and i would pay really your plead with a new path them a growth in the quarter get the couple of additional highlight i put about the new capital growth and for it out yet new land in the third quarter as we can become a hippie percent increase year over year if the hive quarterly growth of a and get we had a living quarters and the poco the hype the overall cutting the growth when we look at it if you look at a pack them or in the left the headquarters and then also at mentioned if we look at the f y twenty one cohort who have a new pup the my new land that we had left year so far we've been a thirty percent expansion of a are our for them in particle your help a buick how to show that every bring on the new customers were able to convert them are pretty quickly korea liking additional benefit or with and a plan going on a couple of just want to mention the bartender the got healthy then i know we had helped big ben goodman lab quarter we continued the healthy band with quarter with and are hundred ninety percent
spk_8: any other thing which we call that a strong we know
spk_2: in the hiring all rate in the third quarter and it the lower turnout we hadn't nine korea the again i'm good performance across the board and gun and we feel good about that the the guy that we provided for cure for the look at you for you know we'll look at how the pipeline wifi larger transactions in the pipeline as we're looking at que pour in por right now and i would pay them and later stage we're focused on linear uganda porter to make sure that you're a holiday in the middle to make sure that we can have a good reality projection throughout the next few months and also we have with chemical a year in the fourth quarter or higher productivity as the crow that the fifty year and then we continue to be strong demand from a cutthroat and partner go good good feedback and for the provide you look at you three and as we going to queue for and casual talk about the going everything will go thank thank god park and the building on rank your comment be know what we typically he had that aware of a deal
spk_6: can the big picture twelve month in tampa to pay pay fica and that is why the have recommended looking at feeling well month at the much better indicator of the line good got about that in the prepared remarks also but you can look at it from that perspective now other billing growth what party to pick
spk_5: then and of a vip oh booking growth what per you and on it really girl might be that would all be with that it though and we remain confident and in dump about pipeline and outlook and that is that even by the even that he had ever guide going to have like twenty three as well as the and ending the yet if i going to do
spk_0: thank you
spk_7: your next question comes from the line every now and then shall we progress in a line of now open thank you
spk_6: her pick up the a thing for that the move was the accurate should take a lot of noise and i am
spk_7: question for you if you don't we talk about the pick could have been killed by color now and we talk about like a you couple of getting better person getting better
spk_2: can you talk a little bit about the evolution of your pipeline especially around that the top of the trauma how that he did you are you know actually coming out a condition that amount of talk about future confirmation of petra you see that in terms the new caution engagement getting better people talking about more broad an object detection are like the you on and how are the to the bowling for you and i have on phone up for the car your grandma that the a great question on a regular that up and i had they had before a big part of what i do on a regular basis is reach out to a leader either hitting customers or new prospect of a looking at they get enough a great opportunity to the about the i feel and i would say that the a young especially this year the number one of yet they're that they're all concerned about it just all that what is going on in the in the marketplace good how they plan and how they get more information for that they can make better decisions with month after the agility and fill their much more interested now more than ever to really engage with myself but also other than the key and talk about how they are going to transform and i pay for gap your question authority the pipe we are focused on building with a partner that law were focused on building pipe in early stage and then he that pipe grab throughout the by david we continued the make progress every corner the here including where we currently banned and that they mentioned a few minutes ago far as how we feel about that healthy pipeline we have going into que for and we've been rapidly working on with a partners how that and aka them or how that to bring them through that process you mentioned the thick the twelve month michael with enterprise customers that is a standard cycle that they go through as you get them into an early stage with a date one and progress through the by it but i feel good about how that been progressing primarily around transformation in finance but autumn more than how the trying to connect the financial practically to with other part of the bigger and after frank that i think airplane green with the with the connected playing and how we differentiate ourselves in the marketplace and for the more that i think we can continue to do that and then we can get customers them of which we get the and now on the call couple of i am where you're going to pepper about to sell year than continuing to stand equinox you know we we had a few a deal even in the second quarter of the third quarter i mean that were over a million dollars or one of which was several million dollars go with to the level of investment that our customers are making
spk_6: in the confirmation journey than i think that the grapevine
spk_5: the and every think about going for and i think i will continue to be important that cut them are you think about what more they need to do that kid can be agile in there in a business and and dried the right type of a king who need thank you and then one quick one point because if you think about both obviously doing using and the public cloud will cannot create them and from per head yeah like a rally on that journey in terms of tried to monaco import thank you yeah think think pay more inevitable bank way or positive feedback on that he i feel metric it at me think about the gross margin and they met million cloud pretty cupola you know we're broadening the customer guy and he had already been regularly it really well with our customers i'm a we think about the journey i would they be are still in the early paid all of them are you know shipped to the public cloud and will continue to be parallel god
spk_2: and we do have an initial on boarding and over time gardening economy love kill and an improvement in terms of overall costs profile they're so what are we feel confident about the economy the go and the ability to operate our customers broader joy
spk_9: i get and the get ugly if i could get the internet i mean the the keeping we talk about a laugh quarterly mentioned again quarter i worry for he contraction without cloud infrastructure provider
spk_0: now you're going live get month with a us and the us and having already gone live from have a month ago with google cloud the us the now ago good japan panther that trying to increase girl going back to the question that you had before allowing it to outlaw them and create the pipeline of opportunities with old the cloud providers and he
spk_5: your next question comes from the line a i'm gonna with you via your line of now open yeah i think for taking my question how it can i got a large the activity you talked earlier and potentially not be more court you eat it and i think your comments and paper shortage in in the prepared remarks were either very impactful in feel quite a tiny in the quarter or through that picky
spk_6: then maybe you can talk about what can buried in the guide on in the cork you guy hurt for each of them you know when you back to be more broadly improvement there
spk_5: yeah go on a tailor but i'm hoping you think you've got the question it and me think about guy you know overall and play a vital as the prank mentioned it is the to tell my michael envy he really ability for we don't gap in our guide our project what a particular quarter we'll have and guns of the the large feel like got overall of yakking good activity and have good vividly been dumped off those lot of a deal of you think about the the secular feel when that you have been you cruel are both pandemic got as well as the overall economic shifts make the and labor costs go up like a shortage of the conversation that we are having externally ip elite at the meeting i had to conversation with the to the for the retail outlet he call my company last week
spk_2: and both off with the airport where were really interested in understanding how you know they could use planning and tragic advantage
spk_3: and we think about up our guide you know we are not in philly the bible they are you know the macro economic forces that you dumb top inflation and we continue to monitor the impact on our on our operating margin him back
spk_2: in don't have the revenue guide elevate that you know we feel confident about that demand outlook and about atletico a computer game that helen one of the thing and we get at the beginning went that far of the hiring ah
spk_3: or not bad have any impact
spk_2: i would pay have a company around today is not included on the global trend in the pressure on the labor market but her up know i look at where we are right now he did not win hacker as really your health performing one of the thing that we arguing with a think you have advantageous for if that we are leveraging a platform you're thinking about labor and how that can manage labor and pathetically our own product of plan like you could bring in pelican into how we're looking at how that market couldn't hold what our need car what they'll the neck of a quarter and were uk more predicted anti edit allowing a the intelligent to income pay to hire ahead income of the evergreen wreck that we open and been able to
spk_3: be able to provide in the market right and for that for thinking i could get loud enough to live again at best we can come on the market pressures around labor market and the more that we can drive
spk_10: that the better wouldn't be able to continue to focus on a coffin like a partner and meeting the demand that they have another get before really pleased about the continuing
spk_0: indefinite that are making in anaheim que
spk_11: you do i get a confirmation
spk_2: i think yeah
spk_11: your next question it comes to the line they're not a with morgan family airline of now open
spk_2: have account think it and i got a million on her without with rank on michael we guy thing as far as i'm just not continually within the health organization and guy yeah i used to live we started years come on the murmurings and limited to pick up in hand with in your health organization what are you guys being entirely and overall yeah i you seeing the hell these ramping an ama power for africa okay cause panic again good question i think it tied to the question pariah band a little bit more than one of the thing as a pet or company the going with i would take some level turn in the market to take on working during the dynamic that have had playing out we're leveraging the pet our platform a technology could be a better plan her we can try they had it that that we can and i think we to find the private firm that a couple thing that i just would share with you get kind of looking at a they what you're getting a few with our capacity and i'm i'm really feeling good about our capacity right now i'm unhampered in front of all from an anagram protector a court hearing or we have a fully ramp rap or the higher we had in federal court which is a good time to track even to killer question about being able to meet our no current command heck only with our partner we continue to work with them
spk_12: cool band ecosystem and bethany could get them
spk_2: we had if you look at a partner to certified my build or up seventy percent a year on year which is a good indication of between had accommodation with one of the kenya leader that the like we're partnering together to continue to and death in that the that they have the ability to continue the band and then from the customer perspective know one third of our are currently have a or hundred that one the any number of customers with a pet kind of act on board the number of feel he has grown about one hundred percent year on year for although dynamic even mortgage their current okay all over near the in crete need for talent weren't that thing and that and i think overall you think about certified palin around and a plan epa about eighty four percent year and year so again we're trying to manage that at bethlehem it's great to have built on board and coming up on you annual for an anniversary in another core actually and he's continuing to drive from improvement okay as you can give it a little linearly he provided for the get the point for the accusing the common him as an early helping healthy a volume and you can grow and then got a working on the customer
spk_11: attention i go over a cut in half with expanded at love with are no different than the fact that we're thing there and the other thing i would they pick her up there is what i found guilty and able to do how effectively and you been here is taken him get it right a further empathy on help culture one of accountability execution recognition
spk_5: and i can take a long way because then lot of kind of thing in the people on your organization and that going to help mitigate especially with the labour dynamic for they mentioned before yeah has a different have a think i am an hour because i'm an cuba question for you i'm in the quarter anything to call out as far as i'm an actual impact and i know if there's little doubt that between the programming in the banshee vs casual statement on and then all hell yeah you you you know no you that there is some timing impact on building the appeal and a quarter on any kind of qualification and gun given to help us understand what the actual impact were in the quarter thank you yeah who put the okay thank you can now in our on on epic that ever no material impact
spk_13: quarter and as it relates to back if you think about the second part of your question and done top just that you know why even shifted to hear your we were seeing you know already renewal or the timing of renewal as well as the duration create than that by the shit that in that way
spk_0: you know we highly recommend to look after killing twelve months metric
spk_7: as it relates to both building as well as the i feel booking take a look at it from that perspective you get to be he really development million growing up party to prevent a relic the appeal booking growing at thirty pretend to the theater indicator go again you know they'll they'll always be the fluctuations and in a looking at trailing belmont it better approach to think about business
spk_2: that thank you your next question it comes from the line of prank hell with caffrey your line of now and i say hey frank i think that the one thing we're all trying to reconcile is it your quota carrying he is kind of you know anaheim partner you're plugging and year here few cop was with actually need here yet it be celebrated by points and in pill many been asking your are some apply she issues causing coming to the for their decision that the athletes quarter as they're dealing with bigger issues and perhaps is just which deals in the key for you're after earlier but i don't know if we got a clear answer felt i don't want to circle back i'm not to see if there's something going on because what you're saying versus what happening that the numbers is here's some one of the difficult economic trying to reconcile what you thing happened in the quarter is so great appreciate the question he a while the a volume would call it you know and we met in the from the call we didn't have as many large dollar deal with half korean que three as we didn't the previous quarter i know we love for do we talk about having the million dollar deal panic about you
spk_14: so the keeping that were calling out here which the dry that that it's really driven the variation between you two and que three is driven by the timing of and the up a title neither player change in the mandarin throw at you funny clear on that and i keep the cockpit this earlier but as you know within a high build up here
spk_2: if i could go back i think the twelve month and we have historically been variation in the title of the by but they deal that are overly know which are you we want we could call now the other thing without our permission and as i had earlier if you look at the million dollar deal even though there were fewer of them than left poorer the a are with philip thirty nine percent you're year so again him of the the committee met him before we feel good about the pipe the quality of feel that we haven't the pipe though they're working on transformation the competition that i'm having with executive that are increasing because the the need and i'll get that they haven't driving agility in a business and then the laughing with up hope on the question which is what i get really lucky for know our we hit a day
spk_7: we feel we have healthy pipe par for the quarter we are seeing a larger transaction
spk_0: that they more of them in later stage which is a good time
spk_2: we are continue to be focused on how many rt
spk_7: and then also productivity to be higher and que for from the heat analogy respected and then i have a for the strong the man who have to impart in their the don't want to give any indication of anything other than just the home of the variability that we hear from time to time with them of the over million dollar deal okay that's great thank you the car break
spk_2: your next question comes from the line again church recalled in fact airline of now open
spk_8: hey i thank you thank you my question i get out and when i think about that nine hundred ninety per hell expansion rate i'm thinking can help break them down a drink and and think you're either from from a new lover and peyton and like what you're saying the market with expect hit hit hit like a handheld performance management
spk_2: particularly in contact the the macro environment within striking and they become you know everything that i and then as be looking at the end of next year how are you thinking about the durability of that hundred ninety present and of medication generate a good twenty three or twenty two tv the only time that i've had a political commentary
spk_8: the apart with the comment
spk_2: now i talk to them any kind with you how we appreciate anaheim in the marketplace and that is the ability to offer i get planning permission to our enterprise customers where they can began and any function and try to connect their property and i think your question goes into with the current environment are we paying even more activity the late to supply chain and with on management and answer that question of yeah
spk_15: that i will also say that we he can pay you asian of the collection back into finance
spk_16: who a lot of of privacy and up you are able to come have you watched and plane live a few weeks ago
spk_2: but i got a chance to interview you have our customer it will have a for america for now as well as a finance executive and johnson and johnson both of those customers we have been looking at
spk_5: finance a line with fell at relate to get it now and finance an airline food supply chain edit like to jump jump and and i think though the queue area or two great example of pretty good strong customers that have invested in our platform at a looking for the extended nature i bet when you look at the overall nick of our outside of finance it hill in that forty forty five percent range that and supply chain and felt of management which we feel good about the shown that the whole pie growing but each each of them a growing probably at at him like a great rate that they to talk about the connecting point yeah that's the to build on that up rank up at every he know
spk_2: and about eight hundred and nineteen pretended quarter
spk_17: it was driven by strong expand motion were sixty seven percent of our grandnephew booking came from a ban can league and retention not a it as mentioned earlier what the high yet over make water and as we look forward them into the next year
spk_2: well we don't guy and out on d v definitely it at that he improvement we think about that hundred and twenty pretend at ebay good benchmark for and if you ever alchemy a good looking back i get welcome to the time last year and any kind of period know what you're saying from from vertical that may have been heavily impacted from the pandemic or only back heel or about pretend the bible there are you thing i'm i'm i'm february and alchemy about the men of moment you know we we mention left corner and i would say it again that quarter what we're trying to keep some of the vertical like hospitality came
spk_18: which were significantly impacted at the start a they arrive
spk_0: dark you come back into the pipeline i met in that left corner and they're still progressing to the pipeline that with paying more out that i will i wouldn't say that know the back he recovered level but it it it panicking and in the early age development and how time to progress
spk_19: and i think i'm ahead and get a threat has been in technology and retail in healthcare
spk_20: he'll that the don't deal with it get continued i go back to the and are point in our our continued the i not a candy gram
spk_4: the top make it
spk_5: a final question today come from the line of a current out wells fargo to carry your line of how can a thank after appreciate the expansion rate that holding countries that are one hundred ninety percent more new book a couple of quarters for the existing based on that historically was the case it out of that is that a business out of that look your perspective is there anything you can add out compare average deal size for new and either last year or what your pre pandemic level yeah michael bay thank you for the question now who have a paint mentioned that well as strong land water for up as well as we thought in a good retention rate go everyday be put into the call the new got them are grow up the number of the of that he had this water what was hi mod for
spk_21: up the of it you know what all customers are about eighteen hundred and pretty big band about you know fortune fifty is is the got them or that gaza in on the show the grandpa bought or platform of you think about the new got them growth at the met new edition gum
spk_20: in great shape we had a good people can blast grow up in that particular metric and the high year we have been eaten by nine waters are also a the shade or here
spk_5: you know we thought of your million dollar deal compared to what we have been before what on our which which up in our of read on the f b now but overall i would be a strong land water for drama new while your perspective
spk_2: and abedi how the quarter from retention rate as well as a nick fan perspective thank you for that because a is
spk_5: more hundred got it for revenue slightly down frequently it's not something we typically theme model the additional scripture disclosure does how but is there anything different in terms of how your frame a guy you take over the fear for the url you mentioned no effective at this quarter but it is now so know what you're expecting in the queue for from michael grade question there are a week it into pity for either highlighter from my perspective
spk_0: you know i've ever i think about the future i believe in creating more transparent be dropped and credibility
spk_2: they can the pacifically if you look at the you for revenue guide as you rightly mentioned you're not looking at subscription pepper he is very important and from that perspective you know the and other you would be up cooking revenue a hundred and thirty nine point three million in the or guiding two hundred and forty three million for definitely an increase over that and that that would be a guide you go look at in
spk_0: guns are get underlying cramped up the platform and finally i would be that not even in terms of looking out the at rank share doesn't feel confident about our yeah my line and our capacity prom feel the education perspective

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