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Shirish Jajodia | Vice President of Investor Relations and Treasury |
Phong Le | President & Chief Executive Officer |
Andrew Kang | Senior Executive Vice President & Chief Financial Officer |
Michael Saylor | Executive Chairman |
Hello, everyone, and good evening. I'm Shirish Jajodia, Vice President of Investor Relations and Treasury at MicroStrategy. I'll be your moderator for MicroStrategy's 2023 Second Quarter Earnings Webinar.
Before we proceed, I will read the Safe-Harbor statement.
Some of the information we provide during today's call regarding our future expectations, plans and prospects may constitute forward-looking statements. the materially including forward-looking in the recent filed differ various due our may XX-Q factors, important risk with results from statements these to most Actual SEC. factors discussed update We assume as today. forward-looking which speak of these no only statements, to obligation
during earnings refer certain release and which issued measures. we and non-GAAP results are are will versus today our microstrategy.com. showing presentation, GAAP non-GAAP call, website available available today's financial Also, to Reconciliations in at on our were
to you during will feature welcome today's using screen. and like to would we I Q&A that let now your be webinar all at bottom the you the of know the questions taking Q&A
the name questions. and name can Phong at will your or session. questions and when sure submitting Andrew of questions Please provide to your the You be submit company's your webinar, Michael, answer end throughout the
the walk will you I Now, for through today's call. agenda
results second First, the the quarter Phong for XXXX. business of cover will Le
quarter for will Kang and recent Andrew Second, And a bitcoin strategic open to market will lastly, discuss Q&A. second cover Then, review the up updates. financial results Michael Saylor will provide we the of the XXXX.
I'll turn and of over Phong? to the Phong CEO Le, President call MicroStrategy. that, With
to like software today's the all highlights Thank business. Hello, everyone. of I'll start you, Shirish. I'd of to our and you welcome webinar, with
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MicroStrategy. the support your time and today that, turn continued Thank your his for you With over for for call I'll thank now remarks. to Michael of you.
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Shirish And questions so, now. for guess, your for the to back floor support. I'll I you thank pass
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Mike. Thanks,
So difficulties some Shirish. we technical from having be might
partnership question XXXX its next more Phong, that expecting we a boost Phong. XXXX ask maybe from of I'll kind the how any thinking So and you monetization? of or Are with is growth incremental for AI the about it Microsoft in be driver. should
Andrew. Thanks,
And in First, that. from BI the of product existing part September. so I'm we're capabilities to that our bringing or will, will include new pretty will you on-top new AI market excited platform about our in QX, and a of capabilities separately sell of if that a skew, sort
whether it the capabilities. whether how revenue, as think So I to quickly adopt do willing time for QX, I is tell comes incremental and will some in market pay XXXX, it to anticipate comes in AI
doing capabilities do build different and it agreement, is, the you are the in if will lot be embedding or second, rest Microsoft, a AI Microsoft [indiscernible] there's to agreement directly there fully open you AI directly with who a And of that's means in point partnering that of from do a open we're One at trying will. not this use embedded AI. AI in which separate of inferior as Platform, which platform own go Platform. companies or are going that's market, unique mentioned, the we're pretty their to MicroStrategy we're into need time to BI have things think you separate and I the to MicroStrategy couple open
think rollout I'm And is that differentiated. will I what opportunity about So the we're revenue excited bring. to quite going
Phong. Thanks
Next question is for Andrew.
We working company beyond. to XXXX are position purchase is company's projecting anchor the in to? mind minimum cash needs, cash the reasonable number what above to with its a excess company Bearing targets is a strategy bitcoins and to that and cash capital there improve in balance the
our we on treasury of think kind policy I'd or say just about reserve to cash. comment how
debt cash efficient is maintain always in we globally This we into country. operate meaning, our and cash in be really minimize needs as to operate ensure we as as region cash interest Our primarily account, each and We then to the U.S., adequate needs, take we business. well. with well possible capital our and in in since payments any excess cash as and manage the working goal as
calendar as high, are. working high you see lower will being being think and of them we're slightly working when we capital say, efficiently as sometimes will sometimes you operating possible. the ranges maybe I'd between but to probably That probably needs about said, those higher little anywhere $XX see that we as I based capital million kind needs as a on cash are $XX think million where bit build balances towards is
the So, question. answers hopefully that
Thanks, Andrew.
good questions. today. the of [indiscernible] of your for But time thanks our a received So for questions. everyone lot We top
portion to any final for but questions, the Q&A closing Phong available turn be and will the other the So call webinar offline concludes we over for now remarks. I will of this
both Shirish, Thanks. software everyone and strategies, your and of a for our and look-forward as as Thank you and We're with and thank you. enthusiastic ever rest appreciate good again good weeks. our us to quarter enterprise today to strategy seeing I in we wish of our want support. bitcoin we summer everyone XX being your and. with strategy
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