SEAC - Earnings call transcript Q4 2021 | SeaChange International, Inc.

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Operator

Good afternoon, and welcome to SeaChange's Fourth Quarter and Fiscal Year 2021 Conference Call for the period ended January 31, 2021. My name is Hillary, and I will be your operator this afternoon.

Joining us from the company is Executive Chairman, Robert Pons; Chief Financial Officer, Michael Prinn; and Senior Vice President of Global Sales and Marketing, Chris Klimmer. After the market closed today, SeaChange issued its financial results for the fiscal fourth quarter and full year of 2021 in a press release, a copy of which is available in the Investors section of the company's website at www.seachange.com.

Before we begin today's call, I would like everyone to please take note of the safe harbor paragraph that is included at the end of today's press release. major management risks will the forward-looking in emphasizes that statements be paragraph uncertainties inherent and the This making today.

these statements to risks and forward-looking and differ materially cause indicated, are These management's to on As risks on Any outlined quarterly of expectations. reports and current actual are also SEC forward-looking results are subject uncertainties in XX-K should factors. the uncertainties considered filings, a including Form and XX-Q. of from Form company's number in that its statements may be annual report on based expectations light

non-GAAP Additionally, financial most this financial being call measures information with Relations GAAP. the release remind presented GAAP isolation these to SeaChange's available from is call has term contains issued measures SEC Investor will in G. via in considered for a certain is the website. I link of the defined in a replay in earnings Non-GAAP everyone compliance and would or today. be financial Regulation reconciliation SeaChange directly like to be made recorded of financial by the this Accordingly, as for company's that substitute available provided not should section comparable non-GAAP and measures that as measures a

Now Pons. SeaChange's turn Sir, I would the Robert like to Executive please Chairman, to call over proceed.

Robert Pons

to fiscal Thanks, operator. opportunity Good you conference with call. XXXX our and is afternoon, for It to quarter you and this speak thank today. fourth great have joining

services is streaming. to world Association, of in subscriptions video around X.X you that Senior was President Marketing, I start that the in ChrisKlimmer. Joining article sharing in company of off to SeaChange, me are Mike and Street a Sales Wall Motion the recently is of would the Global billion our growth statistic squarely our an Picture and explosive with Vice CFO, in in the Prinn, video to We, According XXXX. the like middle new by this Journal. a reached number streaming

their the provide the cable operators content and have live films, owners shows to and content. We technology or experience for to television world throughout streaming video enable

Our subscriptions the solution our models,while easy and end-to-end an has streaming last during company for months not a for business both component our navigating been shareholders. technology brings strong through XX our pandemic monetization the customers advertising with and

XX employees have However, the every into last for been customers of turning days with role a has I and since company. busy point Chairman. day the our Executive meeting been I jumped

over public we have sheet we As cash. our significantly $XX million recent our have with read, you now and have offering, balance in have improved completed

happening you would to like with last appointed Executive at was I share has the Chairman. what XX Now since been SeaChange days over I

phase aggressively more much laser-focused map, Our involved our initial map team a focused which has implementing high been of At level, has has strategic the and road on strategic road key X created initiatives. organization. capable our a

First, go-to-market video enabler cable leading as world. to the enhancing our strategy companies of the content streaming to throughout and SeaChange owners position services

SeaChange's refining our drive the and to model ROI software a for of and customers. better value Second, business monetize greater our services

to veteran, Chris President technology Board to Matthew key of Stecker, and the strengthening Third, appointments: the Senior Sales team Global promotion Klimmer Marketing. with our and of Vice

over-the-top during explosive our the enhanced services technology who OTT is broadband have the long-standing have and the contract major growth reflected or platform road included we strategic the with More with better align streaming go-to-market providers our also our new against also the the wins but recently as initiatives multiyear, not service broadly, improvements largest demand is strategic and This shortly, U.S. Our bottom the discuss by our customer, in strategy of early secured. worldwide multimillion-dollar will our X execution sequential in only Mike top in customer map we pandemic. secured lines, to

our through call of will both to I'll market execution drive turn our consistent and and Mike and scale, the and for will and open even initiatives strategic shareholders. and Chris achieving our call market. traction share share we now the greater Afterwards, are over for I discuss customers will marketing continued capture our in questions. then the road value to create numbers our QX. sales to map Mike? Then Our you outlook walk the

Michael Prinn

good Bob, afternoon, Thanks, and everyone.

SeaChange's than different is year business As very Bob described, ago. was and a today it focus

the I'll commentary focus on my of prior this fiscal in reason, comparison. quarter the fourth For XXXX quarter

for to revenue due revenue market compares of our decline in million $X.X quarter. in million revenue. was decreased prior X% to XX% XXXX our $X.X $X.X or quarter. to of increased QX was QX a the total million maintenance. $X.X which XX% financial revenue international by revenue X% service U.S. QX quarter. the Product Service an XX% $X.X fiscal revenue fiscal prior total in total legacy QX a revenue the XXXX Total or million for was our to in million compared to or XXXX fiscal in $X.X revenue revenue revenue increase prior QX million or was of results. quarter. to to XX% in product legacy XX% $X.X XXXX total decrease The prior XX% fiscal to compares total to fiscal to prior revenue turning decrease of primarily maintenance increased in primarily due to total or revenue Now increase offset in million of for in revenue, in or the total XX% XX% compared revenue XXXX of the which or XX% compared in $X or $X of markets revenue, Revenue of total for The in million $X.X million from million quarter. Revenue

million for total Looking revenue fiscal margins. in XX% XXXX the [XX%] compared for quarter. Gross million $X.X to to was margin margin gross XX% of XX% or XX% QX of prior quarter profit XXXX from XX% prior from Service Product fourth at quarter. the was or prior increased revenue fiscal X% gross $X.X quarter. the our the to compared to of total compared

expenses, prior from $X.X compared the QX to quarter. at XXXX fourth $X.X million, for for $X.X non-GAAP loss fiscal expenses in Looking our the in to $X.X million improvement $XXX,XXX million of prior quarter. XXXX an the of million GAAP X% quarter operating fiscal decreased totaled from operations

million GAAP quarter. improvement operations loss total or per loss XXXX a to basic quarter. of fourth an for negative $X.XX for per As share, share a loss quarter fiscal basic a from the XX% XXXX loss which of revenue, to from XX%, QX totaled the million compared $X.X prior compares percentage of or prior negative in $X.X of $X.XX operations in fiscal the was Non-GAAP

$X.XX revenue, a operations to the quarter. net for negative basic basic of of basic of $X.XX $X.X prior the quarter. $X.X prior This was to loss share. compared from of prior in million net negative per a basic a percentage $X.X net or per totaled of loss improvement QX QX a loss to share XX% in total non-GAAP fiscal million XX% fiscal share $X.X of totaled a XXXX was loss per share the Non-GAAP an $X.XX or loss for in $X.XX loss of or XXXX loss per net million As quarter. GAAP loss compared compared loss million or a

priced XX.X balance $XX.X above X, offering by proceeds average April at the of $X.XX Turning of On was sheet our of strengthened closing gross the balance share, The issuing we sheet. $X.XX was million. which price shares per for common million to share. per X-day total stock

any, If overallotment, we purchase offering if the approximately in stock granted solely underwriter is days to the bring of addition, cover to gross public XX% additional the option the common to In offering. an exercised, after closing XX exercisable would total this the million. additional this an stock of $XX proceeds offered for

cash which and than provides flexibility growth we us cash in my execute financial and strategy. summary. today, This $XX equivalents, to runway with As million of completes our have more sufficient

results, as as please of For file our to we by XX-K, of a Chris? end refer detailed more the earnings today's analysis week. to release well our plan which the financial

Chris Klimmer

Mike. Thanks,

as their content. well SeaChange's over owners content studios, technology we monetize and changes landscape, of only of industry but and content COVID, as are onset seamlessly XXX strength to of and R&D solutions major incredibly technology. go-to-market Digital from software in aligning Services deliver award-winning breed the history have to In Global our deliver brand of using the to innovation. is Services, best a growing empowering software quickly case VoD also changing Marketing, since headed outstanding my the invested innovative services streaming our we the dedicated developing engineers such companies Westcoast with XX that service Sales address Westcoast industry today Digital has of device cloud on As in-house technology all continue in is next owners have like industry services. launch and and live massive is X and helped the the occurred response to dynamic agnostic TVCable products SeaChange In an modified the SeaChange's video not technology XXXX, during manage, calendar to industry them the video-on-demand where direct-to-consumer where invest We to streaming years. focus technological with over cable cable in as premium Despite our With deliver Grupo and seamlessly in another and to prospered. reboot. providers our content strategy portfolio rich solutions broadcast SVP the to adapted platform, needs

their professional software customer all how content more are the solutions of on customers to that example of to support Westcoast is with for and management, retail business content to provides user-facing the Today, than screens movies spans of UK devices. digital and services like our and an orchestrate for in unique Digital model client monetization end-to-end streaming cards all devices. available a rely end This solutions Our globally solution Tesco XX delivery movie that redeemable user great a payment selling technology the processing, apps. stores our in on

customer's monetization. need an such to advanced insights and service and to to technology analytics the and results, device offerings, business optimize our report produced longstanding mentioned, delivery and have this service with strategy application to in are that expanded a management SeaChange model retention deepened United of including and our of already is growing addition client full enable like the is monetization engagements. reaches and platforms. a positioned that motion as recent example encouraging requirements, has the very insertion tools dynamic of valuable deal we the enhancements generate business a major States. streaming well to across engine multiyear including end customer-centric customer secured we users go-to-market dollar sales Bob broadband end power multimillion The all on customer, largest providers as X who, with A suite KPIs, is OTT content advertising our seeing industry the for user actionable analytics to technologies In

delivery. greater the Longstanding this, service technology benefiting of facilitate use increasing provider services customer to service than approach SeaChange's most as demonstrates the customer platform, more is years, our are the management. its elevated and leveraging proposition technology software to to content solutions of infrastructure license X for refined industry. For system go-to-market video any enabled our adapt the management our new providing move leading owners a monetization prominent major continue components, role to of annual a win value to contract, SeaChange increasingly top virtual and service of and and and service. by which years. value from and technology trusted provider advertising highest to to of the providers. through availability marks contract more major cable higher and selling our to The cable this technology video thereby ad operator facilitates value of average SeaChange's will ad the industry. expand role operators enabling strategy dynamic full has technological service technology broadband major X combines in The [CD] with remote SeaChange's XX the in North improve our is exemplifies health to advances we the customers also hardware critical of service partner IP like broadband that demonstrate and also this holistic and of values offering and American operators' footprint our installations On Under the reducing and further This the than hardware cross-platform working win, its world's in

technology, as enabling serves content delivery users globally. a to the video of SeaChange As end to facilitate conduit an effectively

as and X with Building fully outcomes. years, In platforms we well. engagement of robust back understanding addition analytics enhanced of Services, on more that partnership cloud. customer relationships, deepening and that Amazon we strengthened platform expanding a business expanding partnerships AWS' leverages AWS, the than facilitate line, also Web learning or intelligence to to are customer SeaChange and enable end-user on a machine in dates video migrated our delivery Along improve partnership top to a artificial data

machine be insights Our computer and into behaviors. like able cases even convert greater those concludes allow now will We prepared customers vision to and with maintenance, to into now call content meaningful predictive target That predictive his for learning the Bob them remarks. customers easily my recommendations, give effectively to automatically relevant the behavior insights end-user the deploy customer use to promotions. over remarks. back personalized user Bob? end turn how and I'll closing our

Robert Pons

Thanks, Chris.

platform at providers. of holistic and industry. technology software is year It We SeaChange's increasing strategy providers globally and our services goals. sales the video our refined industry's long-term and fiscal entered to critical providing building SeaChange role our a validates and new fiscal momentum world. video world's year proposition and prominent our users broadband transformative of full the strong positioning the momentum, video the value value streaming for and the to and was our go-to-market is our well with the to end of increasingly and period growth positioned the Our the us transformation video effectiveness services value to demonstrates the near- globally. to to of epicenter elevated of billions business tremendous OTT in The the approach Today, selling most finished delivery

confidently can the future never organization that capable brighter. of stronger SeaChange strategic and has still in are is more the today road I a we early much of map, say innings our While and that the been

provided streaming With with we on we accelerate initiatives $XX growth ahead. sheet, prepared and exploding plan, not cash to also of concludes resources in map road growth time, video consistent many sustainable standing our on of in elevated successful the capital have has balance accelerate even than Our resources execution translate will it alike. but successful more the the SeaChange's our years partners raise That plan has expect only and our the profitability remarks. customers necessary among to strategic better our the key our capitalize Over million our the and marketplace. to

We are open ready for to questions. Operator? call the

Operator

[Operator Steven first from is Instructions] Our of Frankel question Colliers.

Steven Frankel

revenue contract? back-office recognition in around Bob, the quarter. can what's we multimillion-dollar were what this And start new bookings with policy multiyear the

Michael Prinn

with Hi, it's Mike. Yes, that I can kind one. of start

going So basis. we're bookings to quarterly disclose on a not

we gave and think revenue, we've enough the bookings bumpy. color being I think I about with talked piece kind of

to from So stick of I a terms revenue. deal, in this different. think is going reporting little it it's a And we're deal, and large perspective, to a

piece is license So large be then It definitely services X value, piece. to that has and a a professional what period. The is maintenance It I that And a multimillion-dollar it. X-month the it's a piece. of has a are out is there say that's ratably. pieces different professional piece services will that probably piece, will and contract spread a

framework This majority which So we revenue was spread be a has it X-year what the one's probably period? used over typical unlike XX% upfront. out our deals, will call to this term of

Steven Frankel

X does -- Or point, start Okay. get that so recognized ratable? the and professional idea Is starts you'd to in that, you've But point recognizing you'd then the or license this hit hit piece, some be and license? at services the quarter the maintenance when you'd that and your have would a then license. after some you milestones at all then

Michael Prinn

depending be a of but think, reminder, spread of this will potentially I smaller on in X license QX. it quarters course, implementation. lump-sum -- a over booked piece, was And will kind it of, be probably as be X it will This kind Yes. a payment

kind So recognition. this would revenue be QX of

Steven Frankel

Okay.

this deal? So not this services we the that saw professional in quarter are related to

Michael Prinn

Correct.

Steven Frankel

And Is trying did any a product today? the do you're Framework still quarter? Okay. deals Framework to in you sell

Michael Prinn

Yes.

we're So the report to deals. think number kind again, I not Framework going of of

little color. and Chris give Bob let I'll maybe think a I

word platform how our about us change we're may probably what streaming I we You probably as and of future, Framework you Framework won't and speak our say offering. -- won't we much. we think And trying like, in but hear the looks hear much. kind that that to us the as It's understand say

Robert Pons

want a some you're regarding selling Mike statement as what you of Framework? share opposed as your do to Chris, been blanket to just have of initiatives what said,

Chris Klimmer

Sure. Hey, Steven, good afternoon.

maintenance our and selling and again So pointed the specifically on was more sense the market able components. sense to it the be concept point makes of and Framework makes solutions address to more spread to both a X services, licenses to based believe customers, bundle solutions. in deliver be to assumption new and it out into that basically, of combination item this We existing

anymore. content So owners launch Framework services. enablement we're operators and we -- ensure owners concept won't content our cable content services sell is What can sell customers, profitable and to operators the going that to and successful streaming

Steven Frankel

Okay.

the would lots balance what's and larger who's content in have bigger a owner market, -- come is are than of going So that There to sheets to come Obviously, you you? customers companies competitive. of streaming highly and to profile have you that the this why? that with

Michael Prinn

Well, that to many a how in just first, world. you've over coming here Steve, the look don't North how all America I the taken scene content much but on players not are know at

outside So have States people people their the libraries, United who who audience. film producing particular shows for are television

we're to sales growth to Some are We're the dice, of U.S. speaking them television. in and you owners. busy slice if talking the and content are to hundreds to Again, that thousands people is marketplace. not our looking I streaming. force globally hundreds, of bringing mean, them of jump -- watch

and appealing yes, so another that TV. are a not out content for Netflix, appeal just to there family-friendly There's and that My are many -- tremendous are to You different opportunities there's targeted there particular a segments it's amount of Disney companies us. there know goodness, how things. varieties customers

Steven Frankel

a do deal in what And market? think will you you for like this typical look

Robert Pons

may. I if So

content owners, obviously, to on business right? we think mean should So they provide on see, that is choose the have content market the competitors the make given. of our we and expertise we can needs all, barrier your us? to that's that also a first on upside subscribers imminent. to based owner a than company, question, users do content value in content to the the amount sufficient and To maybe the strong to that and the these that I case, low, I we business Because product better every depending hold profitability sure of attract can these is enough speak to based proposition allow solid that do a to is for or entry what model owners into is turn why the

comes ensure variety to on based run unlock optimizing content, way comes when also can have we monetization We tools a of revenue big when And to be with the also business can actual return will operation it the streams data that of cloud-native it to and traffic, under generate control to cost keep we in ensure capabilities cost the technology that which analytics. solution related directly is our have the to the but revenues.

hand. other these we control proposition content unlock have with allowing think cost I factors extremely to the strong and hand, combination owners various hand, cost to the X services on And under control. revenues, an think side X these on various of on the I keeping and through the components for the So components,

Operator

Instructions]. [Operator

[Kohl Kohl] of [Aria Our is next question Capital. from

Unidentified Analyst

names you be your of X or at going be following now maybe multiyear solutions products growth will been the primary or driver the be your and that of you X back in sales to primary very I'm for to website you're several that in Could would right that goal Framework of grow the I've company a looking revenues question, the horizon. believe selling market first the If identify kind the SeaChange over have we over the of simplistically, said of now. sales next years. the Just X would years? history, go drivers

Michael Prinn

it's its it do terms a So last on of been its We've days, feel. for XX something dated and us lost very things and is the different in time first, our not many is different to doing and in website look, that look us feel.

content things So let Chris? both in terms products specific companies cable of to things, I'll offerings that more the talk again the Chris actually house. naming you and service of about of and some to we and sell some to

Chris Klimmer

Thank you, Bob.

enablement move the and value where of case to entitlement the supposed the ensures to of. services. in think or being that notion ensuring and and all from could services, purchases. content to customers. of is about that to we directly care to discovery components and where enablement move contents these Think taken what is are that it's management journey serve, promoted getting ingestion content that taken management Think content related provide again, we services care is user need of are being services, I make the need content user is of. to you metadata use Think away accordance content example, selling towards we managed on notion the our entitlement it normalized from registration, So life all what based monetization way to the selling is products entire processed an content we and we the sure sure cycle for services service And call make where to product about, the is that that of

very, to the paradigm portfolio rich customers. sort the ensuring So enablement message to I'd towards have the services components solution this of thinking very change in and that communicated value of thinking appropriately in we like product gets through of that our

Unidentified Analyst

of maybe sense investment And forward plans number or and salespeople? just the you many the sales a Obviously, sales passed. you're working cut follow-up. Unfortunately, to were force. and a had months going you're company costs X the sales be at -- the might levels ago give what in regarding Chris, Can today people of how months with me hiring a at that about just direct Okay. what new

Chris Klimmer

and direct the we obviously contributors sales and SeaChange, have across individual by So salespeople are globe. that offices employed we work today, with

is traditionally some be Latin that EMEA. America, which and and is on focus, are for always so North will to continue is time, so X main primary regions, in Our and America

also those when work us the If invest example, channel agents, also partners reach and reach create the difficult still a in, Beyond in appropriate to to X partners. market, with technology be Pac, for market key regions, but discussed. resellers, an but also strategic that necessary partners and Channel get help those can partners, also we regions. we beyond enter, self-engagement being will is presence which Asia a is with engaged that interesting

Unidentified Analyst

Is it possible you've I it's were just million? just to that many salespeople X question? ago, $XX today, to repeat reasonable direct the about the months how downsized think ask to what with

Robert Pons

Yes. Yes.

gotten Let like me salespeople? we've you have the information where where you that cut -- have And that? gotten anything

Unidentified Analyst

I'm an if That's incorrect. I'm assumption, fine. just making

Robert Pons

Okay.

So assumption. me correct you let on your

force sales the put that only we reinvigorated in force, strategic some the right Our place of same is now. sales things

not I'm your focus sure where So is.

more while, So they're line only been you, to if redirected at for fit being a in I is may our with capacity selling our that now at things it's much correct near force sales that capabilities.

Unidentified Analyst

in Okay. the X building of the your momentum of or know as months strong the Is indicator maybe of to year Understood. started pipeline in you've terms in X how fiscal on of a dollar note. the business? versus of quantify redirection, kind I you'd it that And possible mentioned an value ago terms

Michael Prinn

the that We'll most see have, This that continue then on to we've in give shared either pipeline Mike. going Yes. info importantly, kind and forward. different our revenue specific quarter. Unfortunately, of wins share we isn’t every color is metrics you that anything rated historically

-- He's working execution. of the very I sales and though, it's kind think He's team, got strongly enough got sorry, right probably overall enablement important opportunities. he's that that a feels and Chris Chris got healthy on he's pipeline.

Unidentified Analyst

deals in just XX And into -- of or comfortable you're lot a XX- a last kind here, it. quarter the you've XX-week into quarter discussing just of how a April the XX, what a XX are more X here weeks weeks to Would is the you close Or far? of obviously, or Got close it's less. number, or situation has you be so weeks. progressed kind where in maybe

say anything to now. not best it's So for

Michael Prinn

a Yes. or quarter, guidance. a kind where of at and -- we're model end do at the we annual activity It's also we of provided haven't of lot still we where a have quarterly point really have the

takes just to everybody And it obviously be to would I us still a we'll very back but say finish So QX. have of report probably a weeks couple some of with XX we're year-end, another in that optimistic, QX in results. up while front we crucial because days

Unidentified Analyst

And a final question. really this Okay. is

Regarding cash think company, XX assuming on which at months? you might you're you give balance sheet which and over next you your projects stronger of the balance you're money -- sense the balance I would decline more for because probably sheet you're kind near be lower a within indicated you sheet investing, how some invest be you the going a able least the of accelerating your Can investments as your idea. to us suggest, fit, to see much cash guess, term, might is losing wise today, how

Robert Pons

of cash, There's looking also hasn't type and as No, received the some been just so since you shored and sheet we haven't. can at we you we're just opportunities. strategic that We guidance. long things, don't up. -- imagine, as our many balance it know, has provide We been

So don't it wouldn't do -- not we is, ready guidance. even we to We're be now. the we did, provide if that answer

Operator

next PaFiengo] Instructions] is Service the Agency]. of [International question [Operator Our from [Gregory

Unidentified Analyst

Or shareholders and was quarter. keep contracts up? the to partners was new touched until next before. up-to-date earnings This briefly report coming will next on International shareholders have wait regarding SeaChange will wondering, I

Robert Pons

company press as good invest hopefully you've in. to a transparent Gregory, couple seen. question. And we're as be releases communicative, of going we -- recently We put out you might to want as

we big get our were And together that you best we as soon that a to So it could out win it and do out. that communicators. we those release as can in will have new or partnerships, anything new at strategic something something out -- a developed as I put technology, we large customer we'll all get promise as to our that you we soon get news --

Operator

of Our is [Marcel Management]. [Hertz Hertz] question Capital next from

Unidentified Analyst

ad understand unsold One cut key sales. calls spoke on X had And more reselling with was previous you're you already an about of of or those and take off this I module, out this you products a customers. where inventory the opportunity to test add

still and you maybe excited this still seat? us would the this results were product? Or Is your top about you're what helpful. based taken a update that, list? That this if back be on can give on has So an

Robert Pons

has it. have customers not And to extremely close the in question. the closely if and taken goes back partner, technology reaches excited if are great a It's There's with we with But this. very don't do to about is a advertisements provide lot it to working we that to our that it complex our with advertising will. you a the inventory answer the of on you That's will, parts directly our out, of ecosystem of we and module, who the a working to brings We're customers. our customers. very industry, are seat, which

all on may -- if I it's say, We this one. on back hands been have

the Chris, with So work you customers say do you platform to we're the excited and continue that want day-to-day have to know installed? be. anything, I

Chris Klimmer

here, it's that, I more With opportunity important. ad the I just want support on our also support we and revenues of broadcast have side, the that is extremely opportunity which us. customers traditional for on OTT second I streaming obviously we to unique optimization linear side. crucial the only we But that believe products, for a a Bob. believe huge because not our

contrary. we help our not And a fronts. go-to-market generate all for have that we unique value ownership deployment. the taking a to very customers demand-wise trying trying that have expedite additional at can to accelerate we customers And on didn't taking components of end-to-end, proposition all previously ad revenues. the So And already, have back those the do We're it's the seat everything to to the on we're closed we're technologically entirely control. including we under or

Robert Pons

they're media spending worldwide made from which the that with would and time out company the not agency been that I platform, in technology industry. giant a buying to fairly had is group And past those done that we've gets advertising giants the there a educating aware add rarely doing important like we thing deep that. it's And budgets. media table are some One and educating the just gigantic them, this aggressively across have at large us. I mean advertising have we typically the been

So originates a that, we've quite you dollars. of group time been bit will, if the educating spending ad the

Unidentified Analyst

look to to from it at existing great come come customers new great would maybe That's the that to in exclusively we this your hear. want module you might or Would services hey, most customers that got and your addition more a of you've this. upgrade say, interest module buy that from brand there, Or say module?

Robert Pons

Yes.

it. said, platform. new There people both. -- I customers you'll as grows to have starts see start think successful, back list have will long we platform service been platform to continues it's in produces that out The of the to that I running, an our are certainly short players like to the of a list become more they speaking us. come media about and the to And interest. a we think I immediately. up with a customers it's We get to a to this do ecosystem long But and and it all the advertising like candidly, while be it's it understands tremendous just It's real. to education a seem company, ago, results. cable game. important understand But that is operators And the

education there's us that opportunities. of a we're So But quite still bit that doing new brings

Operator

question Steven is next from Our of Colliers. Frankel

Steven Frankel

to color might does when sequential on us we give maintenance out it bottom some flatten legacy can you a in to maybe that see Mike, least at basis? start when as or the

Michael Prinn

Yes.

say of $XX But All was least think, at probably this down million. I we million do year, in of from have $XX total legacy half that the our around, throughout probably business committed year.

you to $XX million. $XX could go So million to see anywhere from million $X

You where contract a early. could might situation someone a exit have

see X from you'll it XX%, So the next continue of to over down still have least definitely see XX but but the we'll year, from decrease couple next wind years. then it to at you probably

Steven Frankel

maintenance maintenance even not this were really to deal the last a there amount material at plug Framework to Is build that Framework that up Or hole? And another to we this you of anymore? were stream look was help hope you should going able year. from do

Michael Prinn

deals were were rate years, year, maybe all next call run for just in some last Well, the We're committed. the Framework least some years. And Framework, deals million something. it, the but is the you'll at X have X-year were couple X, short, $X X, or now, most that of years recurring quarterly $XXX,XXX quarterly $X about for piece million. that from right is that It's revenue sold we of couple

Operator

Instructions]. [Operator

next from [International Agency]. PaFiengo] of question is Our Service [Gregory

Unidentified Analyst

has I with further gentlemen, few Moscow some TV. International a were International looking if base Russian also wondering in at to I'm We Agency. And content SeaChange have here. and processes Service a provide to plans

Robert Pons

question, properly. just sure. we I that was? make I our to it sure -- question the I services want the that Is are what Was quite Was country? wasn't the your to question bringing heard

Unidentified Analyst

Yes. future, the In yes.

Robert Pons

you're close than Well, I certainly Chris, geographically am.

you know technology least I do. of than part of at from better the world, and probably So -- a that marketing

So do you want to comment?

Chris Klimmer

have Sure. may we Central center as a and R&D and in Eastern We have you Poland. an -- do Europe know,

also Central presence strong towards We're the that very around a have Eastern Europe. slowly region, We expanding and East. sales

We than on And initiative that mapping do, year. is certainly Russia probably is a haven't But in potentially well. to attack needs that fiscal much like as considering out the as that country for I certainly but this arrived well. know, upcoming yet really we -- better prepared to opportunities are an the you Russia, in is business market roadmap be

Robert Pons

give in phone we you I or but will hold opportunities your them, may and I you relationships or to -- welcome us met, to if And add, you don't be -- are those promise in us anything. a country, would a get we e-mail an just call, Right. We're responsive introducing you easy if we if interested I of.

Operator

[Operator session. Instructions]. There This at no this are more time. our questions concludes question-and-answer

was back Robert now closing please IR at taken, for SeaChange's the team contact his remarks. seac@gatewayir.com. turn I like question not to over Pons your call would to If

Robert Pons

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assets the for a assets. always company video to our I XXX a close to assets, a big from Poland, technology talented business folks side shout in software about qualified our to our development people, the great both side, on We speak assets great have. streaming out and highly have on finance the

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You've heard reason. it we're presentation it's streaming that streaming, a part so throughout and of excited about, this for streaming. And is word what and

everyone, thank So you, and stay safe.

Michael Prinn

everybody. Thanks

Operator

for joining for and fiscal you year call. Thank fourth full SeaChange's conference quarter today us XXXX

lines. you. your disconnect may You Thank

SeaChange International (SEAC) 14 Apr 212021 Q4 Earnings call transcript