This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.
spk04: off that that might pick up and combine now with increasing interest rates, which will put pressure on, you know, homeowners and car owners, more on homeowners, and then that impacts their car payments. So there's, you know, sort of a stream there that might cause the recoveries to really start to increase.
spk01: Okay, thanks. A second question I have on M&A and Just curious what the pipeline is looking like in your world. I know, obviously, the public markets are seeing a pretty steep valuation decline. I'm not sure if you're seeing that flow through into the targets you're looking at or if there's still a number of opportunities outside of, even if valuations are remaining strong.
spk04: Yeah, we are actually, you know, the pipeline for us is quite strong. As we said, we're going to be a bit more focused on our acquisition and our acquisition strategy. Now, we're still very particular about the opportunities that we go after. They have to be the right company for us. They have to fit within our strategy somewhere that we can also add some value. So we're still particular about that, and we'll continue that. But that's easier to do when you have a robust pipeline, and we do have a fairly robust pipeline of opportunities, which we're quite pleased about in all areas of our business.
spk01: And maybe a follow-up on the all areas comment. Is there a certain segment? I mean, it seems like the services with the growth that you're seeing there might be a more logical fit. Is that sort of the top of the priority list?
spk04: Yeah, it's probably the top of the natural list. That's where we've invested and done the M&A for sure. We think there's lots of room there for other products and services to offer to our customers and new customers that we can acquire. But we're also focused on technology solutions. As we said, part of that plan to rebuild that post COVID is also looking at opportunities where there might be products or services or features that are helpful for us in responding to RFPs. So technology is also on our list. And our registry operations, as you know, we're always looking for opportunities to help governments or other jurisdictions do some of the operations or the activities there. So, you know, it's really across all segments we're seeing some activity and some opportunity.
spk01: Okay, thanks. That's helpful. I'll pass the line.
spk04: Thanks, Scott. Thanks, Scott.
spk00: For our next question, we have Jesse Pietloff from CoreMark Securities. Jesse, your line's open.
spk05: Hey, good morning, guys. Just first on the registry business, obviously a very strong quarter for high-value transactions once again. Can you just kind of comment on how that actually trended through the quarter and maybe if that momentum has been sustained here in Q2?
spk03: Hey, thanks, Jesse. Yeah, we – you know, what we're seeing in Q2 – In our original guidance, we're seeing that play out so far in what's been transacted. It carried forward from 2021 into 2022. However, the one question is, how is that impacted by the rate increases? We can't predict that at this point. We still believe in our guidance that we've put forward and still feel that it's appropriate.
spk04: Maybe just to follow up in answer to Stephen's original question on the call, the trend is, as Bob said, following what we expected. We did expect to see strength in the first quarter or two of 2021 and that's what we're seeing. We are confident in the guidance. It seems to be playing out the way we had expected.
spk05: Okay, thank you. And then maybe just switching gears, Bob, I think in your prepared remarks, you commented on some plans for product innovations in the services business. Can you just elaborate a bit more on this and maybe talk about what kind of impact these innovations could have on the customer journey?
spk04: Yeah, you know, in particular, we've been talking for a little bit on the recovery solutions bit that we've been working away on processes and technology. We've taken advantage of the fact that it's been a bit slower during COVID than we would have anticipated. And what that's doing is it's taking a business which is already a high margin business and improving it. So we've looked at all of the processes and where we could put technology in. and how we can actually move and be more akin to our registry complete software, which is a full sort of cloud-based offering. So we really expect that's going to improve the customer experience, particularly the performance reporting for our large customers in that recovery space. And then for us, that also translates into operational efficiencies.
spk05: Thank you. Appreciate it. I'll pass the line.
spk00: There are no further questions at this time. I'll hand it back to you, Jonathan Hackshaw, for closing remarks.
spk02: Thank you, Sadie. With no further questions, I would like to once again thank all of you for joining us on today's call, and we look forward to speaking with you again when we report our second quarter. Have a good day.
spk00: Ladies and gentlemen, this concludes today's conference call. Thank you all for participating. You may now disconnect.
Disclaimer