Earnings call transcript Q3 2022

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Operator

Welcome to the Hackett Group Third Quarter Earnings Conference Call.

Your lines have been placed on a listen-only mode until the question-and-answer session. Please be advised the conference is being recorded. Hosting tonight's call are Mr. Ted Fernandez, Chairman and CEO; and Mr. Officer. Financial Chief Ramirez, Rob

Mr. Ramirez, may begin. you

Rob Ramirez

afternoon, discuss The and you Results. thank to us joining for Hackett Good everyone, Group's Quarter Third

Speaking was and Time. and are today, Ramirez, PM Chief Group; on Eastern answer A Rob the the questions press wires Officer. your X:XX announcement and here myself Ted over of CEO to Chairman Financial The released Hackett Fernandez, call at

visit our For website www.thehackettgroup.com. release, a copy of please the at

on financial Investor We that this our will discussed any statistical the call the additional not on or website. also Relations in contained is data place of release page

Before be a in we current would the forward-looking and purposes of statements remind future securities making to and risks, guarantee we in projections, are session, not expected filings. are you involve of risk be for of These our assumptions will predict, the that, only the These begin, in to results especially I be federal statements relate question-and-answer statements expectations, the comments may the laws. and which following COVID-XX. future estimates are the about like to that forward-looking in which light contained Actual that with be information, may detailed difficult performance. may in considered SEC should accurate, factors particularly vary. not They uncertainties statements our and conjunction and results,

it turn At to I over to Ted. this like would point,

Ted Fernandez

Rob, our and earnings you, Thank welcome to everyone call. third-quarter

flow over call Rob and cash open guidance. then I the do, overview will detailed turn normally we As our quarterly our operating to I to some the back comments will with provide on review it results, quarter.

up open Q&A. comments, We after will strategy-related our then which for we will review it market

above revenues of of year-over-year quarterly adjusted afternoon, our basis. a $XX million, revenues was guidance, of share million total and This $X.XX, up and on before which reported XX% reimbursements and earnings per $XX we

profit mix growth and offering. by by the our which was growth of reported performance of our consulting from segment revenue driven driven IP-as-a-service Global Research in and reasons, XX%. higher-margin revenues increasing investments have in our highlights results also our S&BT Our why the we accelerated Advisory by XX% Group, and S&BT year-over-year the area. This were this growth growth This strong before reimbursements

benefitted of as contract continued we our growth from quarter The the revenues to last our quarter IPaaS discussed ramp.

actively several We service efforts. large other to companies also their pilot help bolster continue with be them contract in software engaged and discussions and to value-selling and value-realization

benefited also research of from business. results advisory Our the our growth

year-end. we us the services we support of first strategically, three launch to launched by programs marketing and the them plan programs efforts. During our These to of allow help which should that software quarter, market sales compare providers, and new intelligence their capabilities differentiating

Strategy of and S&BT offset segments, as rebuilding have Business were Oracle their been pipelines and down in expected was or which The the our Transformation strong revenue Global growth partially results XXXX quarter. performance. by segment the SAP groups after Both

level in We year-on-year and segments XXXX. now both growth QX revenues to return to off QX expect in for of

new platforms, digital our we fully our state-of-the-art across highly the off. also providers DTP services to research and are us platforms and of licensing software to our differentiate are all with offerings These starting allowing relationships develop enterprise. pay and development and benchmarking our global Leap, and Digital platform made investments Hackett that digitize Platform include which the Our of to Transformation Quantum or IP our proprietary

facility $XXX expense of that the and when buyback Dutch balance flow from to reduction to consider the a our us dividend has of strong is our to we offer half million to more credit expansion announced should that generate expect allowed strongly and offer our especially incur. dividend, ability net cash acquire to you million the of be our side, offset operations On this we shares expected tender tax payment, to than sheet company's over common stock. increase the This today five interest of tender accretive, due our

our As continuing acquisitions by buyback we our facility few we our on to more to aggressive have our expanding while with into discussed calls credit invest stock be last fund wanted in business. balance sheet to

With Rob provide market strategy comments. results, and that, additional details operating I comment cash on Rob? said following our let flow comments ask me Rob's on also make outlook. on and to will conditions

Rob Ramirez

Thank you, Ted.

an I'll I overview during results, with of do, key this related third the quarter quarter, the of quarter comments I'll go to on Dutch. typically a cash topics for cover the our portion as following XXXX, financial and of along flow in an of overview discussion go well statistics. I'll outlook activities in As overview of relation call. our over our with operating an I'll through as some conclude fourth the the make

not the our company control segment material reporting, on it like internal disclosures. Based relates Form misstatement our evening. additional concluded did omission had in common It that, this that to to we moving material results, Before comment SEC, on in the segment on the that financial of I'd of and note the filed statements. to result to was discussions financial important with staff disclosures is XX-KA the weakness of as the company's letters

align S&BT; has company better in reorganization, structure Due Global solutions. reporting XXXX, and its Solutions its three reporting Effective to or segments; the Global SAP Business to market two, quarter operating its reorganized third Oracle company Solutions. expanding the with Transformation and Strategy of and three this primary one, is to the internal

total will and I our Global company. the Solutions result, a of As S&BT, revenues Group, Solutions separately regarding Oracle Group our SAP comment the our

includes the benchmarking Global our and OneStream our Group business transformation groups. IP-as-a-service programs Our services advisory international research offerings, results offerings, and our and America North of our S&BT

on no SAP to passed to revenues expenses Solutions include Oracle in both profitability. respectively. impact segments, total will expenses America revenues we Solutions be and of clients, results our discussion. SAP and our Reimbursable reimbursements that, have project and Oracle our North note Please Our our the primarily before offerings our and are travel-related referencing associated

will non-GAAP our we'll in reference measures, call information of call press non-GAAP investors. on the company's this also post believe release certain any We filed website. useful which measures we from GAAP reconciliations of information page today, additional to the to financial and earlier financial included discussions provide Investor based the During today, Relations our we to

third quarter our XXXX, the For revenue total million. of was $XX

revenues Our our was $XX with before reimbursements million, in which line were quarterly guidance.

to revenues prior the quarter third on period the expense The prior same when ratio X.X% in year. the reimbursable in as compared and X.X%, reimbursements to before compared quarter X.X% was

increased said, experienced Post-COVID, as client we related we have travel.

pre-COVID not model, However, given to do we expect to levels. travel project-related our a delivery expenses remote these return transition to

million, currency quarter demand utilizing when compared but our for US The of foreign S&BT for period year, the transformation XX% same third XXXX before the was the in the growth digital same in continued were prior $XX.X international S&BT an quarter reimbursements Revenues the revenue increase was X.X%, continuing since segment Global XX.X% prior and of XX% second of growth reflecting reimbursements the year-over-year the to investments. was S&BT rates before and the year.

their experienced of Revenues for the before spending in reimbursements period the $XX.X quarter, clients reconsidered when segment year. decrease as prior were during same the the million, client priorities. decision-making extended We XX% Oracle to compared Solutions a

evidence the which As is we transformation however, opportunities further demand quarter digital large closed, exited that the healthy. remains several

reimbursements of the in decrease the to $XX.X XX% same prior when before period compared Revenues SAP for a Solutions year. segment million, was

the is some of at results SAP continues coming strong XXXX rebuild activity after have of from VAR in the the As Solutions we previously, off SAP results stated SAP engagements strong this quarter. to benefited end late it pipeline and completion large XXXX. of

subscription-based and multi-year XX% company of which research benchmarks Approximately our IP revenues service our of reimbursements recurring advisory, total application-managed contracts. revenues, consisted include and before as-a-Service,

before totaled or the compensation of quarter $XX.X before XX.X% Total sales, non-cash of million reimbursements third cost expenses company and year. XXXX, $XX.X exclude of adjusted million compared or reimbursements in reimbursable in prior of which XX% the as revenues to stock-based revenues expense

consultant Total X,XXX increase X,XXX of compared the previous and the at utilization X,XXX end in and headcount of activities quarter, to was quarter of the primarily company was headcount quarter of as third of at subcontractors. result the total year-over-year XXXX. the The third increased of the consultant the end higher company

margin was well driven primarily by to stock-based in quarter and higher-margin period. non-cash compared company XX% The revenues reimbursements, mix was before and excludes expense as expenses gross XXX in the during XXXX, year of prior quarter. third reimbursable of improvement Total the VAR the sales compensation as XX.X% margin the adjusted revenues basis relative which S&BT as gross point higher-margin Global

activity expense, before asset the prior intangible adjusted excludes restructuring of and XX.X% reimbursements $XX.X This amortization reimbursements $XX.X non-cash year of million the in revenues Our or million period. to was is XX.X% compared before third or stock-based quarter. which revenues in compensation SG&A

totaled share to year. million in share income the the reimbursements of EBITDA per the the before earnings XX.X% to quarter as reimbursements $X.XX $XX.X million or of XX.X% the quarter was revenues or for million quarter as for net revenues $XX.X $XX.X XXXX, before year. the third or prior quarter diluted compared Adjusted third diluted of GAAP XXXX GAAP net of earnings of $X.XX XXXX, million of of $X.X of third of or per income in third compared in previous

of which activity the diluted of Adjusted common net guidance $XX.X expense income, our of net stock-based excludes range. in per XXXX, non-cash third income the $X.XX, and restructuring adjusted million which compensation earnings above or quarter total high-end share is

was the third quarter of earnings, $X.XX was to by rate quarter due effective utilization adjusted XX% XXXX as favorably on for Our approximately XX% compared guidance. that tax of XXXX adjusted our income to was GAAP a net third impacted the the for utilized which

net or this purposes. on $XX.X adjusted the income of basis. to prior per actual the Adjusted year, included an income reporting net year. QX effective common the effective year $X.XX diluted we tax million share rate GAAP rate of net In of compares quarter of a prior adjusted for adjusted XX.X% in income income tax net to moved for This GAAP of an third

primarily $XX increases the and in our operating million end income income to in previous activity accounts liabilities. quarter. tax by in The contract quarter Net decreases company's end of was accrued expenses in at at and balances by activities increases net driven provided quarter of adjusted were million of non-cash cash third receivable by as the liabilities, for compared the $XX.X offset cash $X.X partially XXXX, million, the and

the SAP of to outstanding compared DSO quarter end license-related days of the the was or due to at sales sales. as end quarter, primarily XX days days, at previous XX the Our quarter-end

$XX.X Our increase the remaining the end authorization. at million. Directors of of million stock was the quarter, the repurchase $XXX a in the to share company's authorized Subsequent authorization Board quarter repurchase company's

per paid be on XX, to Additionally shareholders January of record dividend the XXXX. XXXX the share December for its $X.XX quarterly X, fourth declared of Board on

the the of specifically Before quarter of vacation of XX% fourth our I available billing be million to holiday for company I approximately before our is quarter million. will revenue days increased the the in to fourth move of to everyone total when business, would to by that to quarter The range and estimates decrease fourth XXXX $XX third quarter. reimbursements of like time historically remind the X% $XX for seasonality in guidance taken XXXX, compared the to the

We Solutions income which revenue Oracle earnings in expect on Solutions effective to before up the of down we be year-over-year on expect of XXXX to be rate tax common quarter be adjusted third XX%. reimbursements per Global a diluted We a estimate share to and the $X.XX, year-over-year $X.XX to net in an of S&BT adjusted basis. assumes SAP range on basis and

year-over-year It's a the important rights, $X.X outstanding tax year for share the million diluted appreciation GAAP which fourth prior to the share of $X.XX of comparisons. included benefit to per or exercise our impact that quarter note will related results

on before to We expect margin reimbursements XX% revenues be adjusted XX%. gross approximately to

quarter approximately adjusted SG&A We expect fourth the expense to in and million. $XX interest be

of expect XX%. EBITDA before adjusted to range We reimbursements revenues in fourth-quarter be to XX% the and approximately

than common million a let provide The value offer up not our some its that a details Ted offer $XX.XX. to me its tender company plan greater at stock than of less regarding in to nor announced $XXX today mentioned. $XX.XX, price tender Now, launch purchase to

tender on tomorrow mean December of Xth offer expect XXXX. launch to which We expire it would the would

to We select a at conduct Dutch stockholders set through offer plan the company, commonly price shares. Auction. by willing sell known are as to a allows within stockholders which specified a their This price to the tender their procedure Modified procedure range

at million price tendered. single lowest such to will that at in the within a allow based will the the shares purchased $XXX the the company select of purchased range on purchase shares price. All company offer The be value the same shares price tender number purchase in will of a

made be the tomorrow to materials Commission. Exchange only which will the tender and company related the with pursuant The other offer of transmittal the offer letter Securities file tender will to offer purchase, and

should included information offer. the we questions with the press Any issue tender information tender dealer the contact in for materials in specific directly the offer with Their tender be release the this tomorrow the announcing manager or agent tomorrow. addressed will SEC offer will be being filed and

the from company Bank new subsequent the of time $XXX America the revolving Additionally, the to these a of Under with third five-year and company of the to end facility entered time pursuant to up credit a to into to US banks have credit. agreed quarter, $XXX million lend million credit agreement, Bank. line

and along of $X.X Yield fees on of used per will or the with the bear the which BSBY offer offer the credit under with Index in The associated cash based loans facility be facility. Short-Term tender shares annum. The an credit with Bloomberg will the applicable proceeds facility margin between interest Bank ranges plus the credit $X.XX a hand related the and purchase for along the on

million Lastly, cash we cash associated as our offer, and to as with tender balances fund tender to approximately to facility. as $XX the in offer costs third the down we well quarter, credit from be plan use the expect

priorities this turn At point, review and your to outlook coming it would over for back Ted strategic I like months. market to the to

Ted Fernandez

Rob. you, Thank

workflow and innovation and on opportunities and we mining on influencing analytics services. As organization. applications, compete let forward, and businesses share look demand are their in way the growth enterprise and offers process our deliver the infrastructure, environment automation to me our thoughts cloud dramatically near Digital it the long-term

as attempts in competitive. projects to the at and competitiveness respective Clients to evaluate down long-term change is their payback transformation organizations Digital an critical that and businesses capabilities Fed's activities order the from to and are forcing understand all redefining slow transformation they pace, the to on accelerated digital aggressive these as remain that fundamentally economy adopt their impact new well.

transformation With remains by impacted although, organizations created the interest decision-making, digital that assess extended said, as being priorities is it strong, demand increasing competing by rates.

disruption reassessing spending During noticed clients the priorities. a a project experienced meaningful their quarter we and of

other the we we as large However, forward projects exited going quarter. also saw

we spend saw which quarter also to our the their cost-reduction of offerings. and During productivity some efforts rebalance with also are core strategic our clients

transitioned the hybrid model, term, Long but quarter expect On respective we saw the teams. which provides moderate talent with to to talent side, that to a experienced sales delivery effective turnover us competition trend continues, for and continue. during our and we their have access clients and

flexibility to demanding responsibilities hybrid with to This talent historical personal perform very the of have should their attract is struggled associates requirements because model This provides to allow us industry. retain, defined and which of that greater also retain our our valuable we travel to them.

high dedicated development marketing accelerating services, our are resources recurring IP and by the focus we Strategically, content area. increasing our on the to margin sales related this and

have in early a and advisory to expect Additionally, in research version platform new XXXX. we our investment our have increased member launched

of help unique market previously also that intelligence software mentioned, the highlight of across have providers assess and categories. started services series we programs will and a new I launch to As selected capabilities

to by Our launch and further new in year-end goal number programs then launched accelerate is of the XXXX. programs three

are these that revenue. absorbing can results, but costs We our increased in recurring they add current high-margin believe

research advisory services. downstream that we clients and from benchmarking business technology our transformation It is note our to continue increasing to consulting revenues also and see important to

IP, services. of likely last on benchmarking Over services, our utilize our research benchmarking advisory are services rely Simply the base. also have organizations from more XX% who client to consulting our and put, and come two research years, over consulting our

new X,XXX very also to syndicate reach that manner. significantly channels; us are will to IP that a our current through us in will allow the beyond strategic focus allow Global relationships exploring We efficient

margin We expect these revenue end first the should high-return of to to of result year. which the launch relationships the prior in new

with IP-as-a-Service Platform. to software-as-a-service We redefine digital are less enhancements with Transformation significantly for the benchmarking benchmarking will our more technology continue These Digital platforms offering. us underpinning in solution, deliver to global our through also along Leap, information allow our effort. They Quantum leadership also our

to transformation to the value the IP-led clients initiatives software there comparable their of life We market. our allows accelerate our decisions process leverage and compelling track is also believe platforms effort. over and respective case benefit It configuration the flow IP of create assessments no in realization

on as it those enter just we we with innovation. mentioning of want of been to calls, the our more our see can on We well so of I've As to to familiar who plan exposed platforms. that XX-minute added have XXXX -- page as demo and been you continue for a have Investor before our familiar Relations capabilities our our website, refresh investors to become those

have IP Lastly, accelerate alliances scope, that can to client our leverage and even that business, and we though look growth. continue strategically and grow the offerings the add we to capability acquisitions our for believe base we and our scale which

by our to always performance their focused and let always, thanking clients, we congratulating efforts, their matter people may highly As associates tireless encounter. and challenges no them by for stay them me urge and what our on our on close

conclude comments. my Those

Let it our to Q&A turn of operator, move the call. me section over into our let's Operator? and

Operator

ROTH is [Operator first Instructions] Martin from you. Thank Jeff with Capital question Partners. Our

may You ahead. go

Jeff Martin

Thanks. are doing Hope afternoon, well? Ted and Good you Rob.

Ted Fernandez

Jeff. Thanks,

Rob Ramirez

Jeff. Thanks,

Jeff Martin

quarter. the to contract Was you of part QX the impact if to continue see to your with for guidance of S&BT mentioned that's quarter? disruption a within going if or if -- and temporary consideration curious was the a was wanted in Ted meaningful that that the disruption

Ted Fernandez

clients impacts and QX penny It which ways, we're is other in rethink an new two, and project consideration. what digital or and the But difference a we're their for remain by in being we re-prioritize demand initiatives is was way forces unchanged, two. know impacted challenged certainly actual stopping, and overall, transformation by we're a by the by not three, seeing ways activity which two or between them unaffected our of There it. spend seeing to penny part probably a the but

are activity, this clients continue reassessing their it We some with which strategic benefiting spending to change. But those and reduction decision benchmarking we our see until making look by comes cost some of now extended of expecting priorities. some we're

what's guidance. our that's So reflected in

Jeff Martin

market? contributing us of And more sort the is that mining, what's report don't And you driver? and an then on profitability, year if give if I respect to this for that's been a progress a XXXX could position process Great. and with Okay. that impact to maybe know done to of revenue business beyond

Ted Fernandez

continues it launching No, to which year, and -- high our and areas, again, looked which of to of We syndicating business what an we we mid-year of joint intelligence were efforts all when we had of we moved market actually at stopped content our development to the launched when our and totally other be earlier with we believe we had seeing. with is and what we we the opportunities, we area, growth the prospects looked programs, IPaaS IP, new the model. potential these like controlled. strategic really the in that venture time attention controlled But

Jeff Martin

And to respect growth. XX% then is with which Okay. X% model, target your to revenue

initially setting low to expectation that XX% would earnings end imagine, an growth. you'd of I XX% be range at XXXX. think I the for in terms of

if could that? curious comment Just you around

Ted Fernandez

to to perhaps that the it the With go the to economy that is crystal at those we of consider would abate continue if investments things -- will the demand And investments we higher back slowdowns if for of assume the of that impact would expect research and of for concerns second new making all our and to programs first Well, and making contribute want we'll seeing if we unchanged. it impact to we're the long-term programs just this year. economic would you rate. a remains the would strong them come margins. normal advisory to pretty growth what slowing call XXXX, said, all we quarter our this around growth, you half that sales we're are trying what across our ball, if increased fourth were we're the around half that But that just

that margins would basis. seeing you're So margins an all expect EBITDA and our be we on increasing and recurring operating that are improving to

go that though -- that's Oracle rough we potential. of believe group And it's have let's I'm that was, it pretty just prospects off XXXX the where our its and So greatest for a back decent a and then XXXX. Even about sorry, been business SAP talk our XXXX Solutions.

We being at we groups. margin and we're also Look, end should they seeing any as believe segments. all are increase which we growth across we low continue you'll profiles managing to rate of contribute but long-term by if our the those their leverage least resources we continue wage the increases our offshore in are see that mention, good continued at more, of -- believe growth environment, activity offset in of that didn't nicely offshore to three

contributing are margin a high the clearly seen growth things business profitability end those which and profile, of margin you profile you've XXXX. of were creating the new with all of profile, the All as is near anywhere if a operate for rate throughout to said, our increasing, you revenue

that the to mean, the compared even it's impacted course, industries with consider be the of results -- expect in when second along historical easy all strong this, of our our with we getting to of I face. I it, But results. record these say, other other we first ourselves year we're half XXXX getting are first that very still with and the challenges had all let's rates call XXXX because increasing slowing our excess of half that you half, some clients when by -- forget,

Jeff Martin

That's helpful. Thanks. I That's all have.

Operator

Thank is Colicchio Barrington Research. you Our [Operator question Instructions] from Vincent with next

You may go ahead.

Vincent Colicchio

year. gives is of quarter you the side? next said Oracle you question and upturn think confidence SAP first -- in the I the an Yes. on Ted, what second

Ted Fernandez

that see the the the we into third in pipeline and seen we've going the what activity Just even fourth quarter. in

groups. as of And enter some QX of the we impacted QX two exit sizable that signed engagements said those one that and we we

on but demand activity why plan off I itself facing transformation. velocity we their activity know and conversion, very strong it, clients the we and activity pipeline and or are other that's digital for didn't But the around So will back remains that it a considerations, it the impact. impact just it's should

clients seen in incredibly issues that they're some -- that to are of that COVID these in invest the it affected faced transformation facing. have but they been call initiatives that We've only in XXXX, through spite by I'll not geopolitical XXXX industries been both of in have digital and continue those headwinds in

I So have is We to continue nowhere. headwinds manage impacting that's that some it's going and say have demand their respective why that. Look, through as we'll businesses we're to we'll just going successfully. how decide do to think so clients

Vincent Colicchio

in you with? update currently IPs deals on how service or an many you're Could give us negotiations

Ted Fernandez

Actually in right like the now. got are and active to we're another probably two -- that four contracting pilots

in before have -- the those So we're hopefully, additional and we'll able as signed XXXX. the end to then year, ones would of hope here said some some that see previously of I we

Vincent Colicchio

given economic demand -- offshore are headwind increased for revenue and you be those to could the in seeing a side businesses? software more is pressures And the implementation for that

Ted Fernandez

to be resource bet and of offshore approaching of me probably continue in they well I but I'm Oracle is resources No. total bet blend to going technology-related will to compete. services going anyone who have But offshore of I mean, not an appropriate delivering Groups I've resources and -- to have our SAP got front to Rob increase. our XX% sitting are on our

that for that pricing change, globe with for are making issues increases the but not mix across very any competitive wage helpful So all -- really offsetting us related clients sure leveraging may they they stay in related bring. we or rate only are

Vincent Colicchio

Thanks, Ted.

Operator

with next George Sutton question Thank from is you. The Craig-Hallum.

go may You ahead.

George Sutton

move hasn't auction been in time with time stunned I'm this the yet Guys, the and the at this asked Dutch in economy you. very Thank the bold question market.

conviction? you ago? now I increased could seeing of not just say, it. given why why give are months What versus by And six that's love way us you you So the perspective some the

Ted Fernandez

Okay.

consideration First the it entire year. has been a throughout

we that's knew going strategic to the launched that a So that was alternatives. it's we as year be something strategic considered in we other alternatives something

when get we're the thought that cash dividends we just the sheet, maybe you shares as the comment that -- I'm as continuing by when that With fact the going that the balance call want repurchased will looked elimination to you sit expense. at said, flow volatility to we're to be being that effect that done able our interest consider significantly -- but shares, weren't that hoped, all especially, we incurring are to timely we at of look the the of we consider it on generating, our we've offset the I on made if the tax interest expense when repeat the and we it

So net low remain of expense dividend and very tax will interest our for us.

XXXX. at generating. let said all strength our our of Like go -- So -- including we when flow we I into to want we I we're the took earnings it. throughout things we strength by. said strategic considerations -- consideration the of of looked said acquisitions on other didn't those thought I personally year cash operation on as it

decided to go So we forward it. with

George Sutton

shares you that words are that logical from guess, have the I actively summary? would investment, own So strategic found and in perspective M&A your an the looked best opportunities be other at

Ted Fernandez

we is research-related look are That you at prospects believe correct. the a of Especially, we offerings, great it's from when the growth think our above iPaaS all what licensing investment.

George Sutton

you XXXX. a might Can of there new what's to give research about that mentioned be some early incremental platform? adds of what us launch you -- the advisory different in just platform sense So

Ted Fernandez

platform these took existing to to that the a something It's three taken know -- in earlier, that but offerings. probably start the turned should it to and has our has did years. we to George taken portal years that say four current we over you very last backseat be -- platforms important backseat to other that have our embarrassed a to the I'm out member significant made Quantum investments digital has Well, transformation Leap and

as better we that when said now the grow we we a research do look With of state-of-the-art force to throughout that to said, member amount money XXXX. sales those and the platform place get at around programs programs, we in we're spending growth

if on knock the early out that we version Clearly members see XXXX. So deserve first get in let's our it. wood

George Sutton

Thanks, Super. Appreciate it. guys.

Ted Fernandez

George. Thank you,

Operator

you. turn to Fernandez. the questions. Thank And at back no Mr. I further time call over I show will this now

Ted Fernandez

Well, I'd forward in like fourth we all call. the to quarter. thank to for you updating everyone look earnings report our participating We when of third-quarter

of said, tomorrow press you going out along out participating. will details tender you that Rob with that will before opens. the Dutch As be will market releases for see Thank go again offer the our

Operator

you Thank Thank you. today's does That all participating. conference. conclude for

You may disconnect at this time.

The Hackett Group, Inc. (HCKT) 8 Nov 222022 Q3 Earnings call transcript