HCKT - Earnings call transcript Q2 2024

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Operator

Welcome to The Hackett Group's second quarter earnings conference call. [Operator Instructions] Please be advised the conference is being recorded. Hosting tonight's call are Mr. Ted Fernandez, Chairman and CEO; and Mr. Rob Ramirez, Chief Financial Officer. Mr. begin. may you Ramirez,

Robert Ramirez

and Group's for second everyone, discuss us The Hackett quarter thank afternoon, joining you to Good results.

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

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

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

for would estimates to expected future purposes comments about a to and we and it securities Federal forward-looking I performance. expectations, begin, which to filings. At we statements statements uncertainties These of the the Q&A guarantee not be of in will you future following results, Before to the in session, the the SEC our conjunction Ted. These like current They statements considered laws. projections be remind involve should vary. I which are may point, with like risks, are statements would be assumptions that that information, in relate only contained are predict Actual may may making and and forward-looking risk particularly turn detailed not this our in and accurate. results the to difficult factors that over be

Ted Fernandez

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

cash do, well I comment over comment normally to flow I'll call to some quarter. back results, outlook. will detailed as we As it the the as operating on on comments turn with overview open then on Rob

related our it at $XX.X to million, of which review we $X.XX, was guidance. total our Q&A. This up will which end which of was adjusted before then we of after high-end per guidance our $XX.X comments, the We revenues high earnings of the above of market and share revenues afternoon reported and and reimbursements million strategy will open

Our is Oracle the over we sales and over performance of A enterprise of to since results our consistent continue the our with that year. Oracle were demand momentum had of management quarter strong has in commitment both clear historically development segments. Oracle's experienced SAP performance the last is the important beneficiaries we second offerings. this recent in and they driven by notable to performance reemphasized this are increase the experience area strategy. the

Our quarter. SAP benefited settled our performed also Solutions segment which ] as above reseller it the closed transactions expectations [ value-added

segment year some We last are sales the seeing payoff. start we to of the in made investments

compared decision-making. was and Global Transformation segment we to result to continue Strategy Our X% as in down have Business extended economic when last seen year headwinds

mentioned As particularly noticeable quarter, last I has our e-procurement been in it area.

we positive considering continuing are from side, On AI to increased the activity companies investments. Gen see

as XXXX their to Gen their with design XPLR. XPLR, platform, concerns of ] detailed as AI hundreds unique us conducted a in exposure a meetings AI have implementation recently launched well Gen result interest Global AI limitations. These plan, meetings provided that's capital with of these have We our as organizations adoption ideation organizations' and [

simulate to because Version most AI The XPLR's Given this us have enhancement capabilities. this an happen and platform's by using significant our X important we clients at make unique enables also business is perspective, Gen X detailed month. level, XPLR automation identify strong AI for enhancements to ability continued our our utilizing and a IP process design of Version meaningful task This capability use to release to plan our Hackett opportunities assisted ability AI knowledge. to use cases utilizing can to our only cases our which enterprise

significant also AI solutions. use successfully to require sophisticated implement have projects Our AI cases us assistance clients and implementation to Gen exposed our

us for enhancement, platform the only AI able natural AI implementations extend to cases. to fully and access strategic Gen and to the use develop think is implement our Given be capabilities we it

still hundreds increase area project strongly. meetings the this our of this to revenues expect from conversions are at low point, we continue sequential to Although our in

believe AI use has AI by journey Gen been is opportunities our improve months being by also X is AI. This unique our potential that meaningful Gen their has ability and XPLR Version branding in also benefit expand just identify realization doubt also existing feasibility, rate utilizing enabled benchmarking assess architects conversion database. and our well will AI extended capabilities of received the cases, and determine on our to pivot We that no our to new their in downstream aggressive our engagement. There X our clients' become our

advisory executive this We all fully continue into will integrate invest to Gen believe front, our growing the of in which in programs. our content in area. move advisory to our our programs, be began interest we AI to On clients' April, strong responsive IP-based

results, On you term conditions could acquisitions sheet the comment I in outstanding in that outlook. cash comments. operations to to strong flow will on comments credit to buy plan to to down flow our back to balance sheet pay while stock we side, short term the our term continuing you us business. With following our make our Rob and me expect provide of that Rob? market our also Longer from continue on and facility. will the use our let Rob's invest details additional -- and to hear to cash use ask on strategy Rob operating balance and said, fund short balance

Robert Ramirez

you, Thank Ted.

the our an results, key I'll second do, portion and the cover conclude for of financial flow a along topics our quarter, typically I this of with will As the then quarter with outlook during during I'll discussion an on overview cover our of the following our an of I'll XXXX call. activities XXXX. of I third cash statistics. overview cover quarter operating overview

segment the and Global Solutions separately SAP the the regarding S&BT I comment segment, of segment, company. this of call, Solutions Oracle total purposes For our revenues our will our

international results programs and executive offerings, IPaaS Our North and transformation business Global benchmarking includes the segment implementation Coupa and S&BT our of OneStream and the and advisory America our offerings.

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

reference to During our also information will call today, provide we useful which we measures, non-GAAP believe certain investors. financial

financial company's press additional and page Relations on information We this measures from GAAP reconciliations to the have the post on Investor today filed non-GAAP call any our we'll discussions release included earlier in of website. of the based

for of XXXX, revenue total second quarter our million. was $XX.X mentioned, As the Ted

before $XX.X Our our above was of revenues million, quarterly reimbursements guidance. were which end the high

X.X% compared Revenues compared quarter S&BT $XX.X as second the quarter second ratio of The our reimbursements period Global the revenues S&BT segment reimbursable segment and in the million before to in year. Total reimbursements in quarter for XXXX. quarter of was XXXX, million a period for prior the before X% our decrease the on were $XX.X was same from prior second same when for of Global of the expense the X.X% to revenues prior year.

per $XX.X sales, headcount consultant the in impacted at this X,XXX to X,XXX segment the period by in quarter an XX.X% of Solutions exclude were $XX second of X,XXX XX.X% million to decision-making the income impacted last Solutions income over for XX.X% totaled $X.X activities has $XX.X of earnings diluted revenues of million our $XX.X revenues quarter million quarter the These compensation totaled revenues XXXX. quarter in the line compensation million reimbursements $X.XX common Total SG&A, as of earnings recurring previous As before company services with the of second particularly SAP GAAP the in of XXXX the reimbursable business $X.XX per revenues adjusted or of net our compared which XX.X% the X quarters quarter top share quarter year. year same Adjusted Ted prior as compared momentum prior were expenses company from the accrued operating increase primarily stock-based which to prior segment company million quarter year. GAAP quarter the per XXXX Net million, contracts. Total Solutions we year. The client diluted of in of which end to results end engagements, non-cash before million when or decrease quarter reimbursements, the segment compared adjusted the earnings strong expense year. Adjusted XXXX, of in end XX.X% adjusted in reimbursements Oracle to transformation consist our for mentioned, from non-cash the was expenses at respectively. Total the excludes diluted by for adjusted periods. Total prior quarter multiyear period second were guidance as totaled as and business non-cash in our provided our second million the or XXXX, our subscription-based before was the year. of of to prior compared and quarter of X% compared continue the increases before $XX.X for cash which balances IP-as-a-Service, of benchmarks per for growth in $XX prior revenues company net quarter. by and was prior for of income were revenues of of expenses $XX.X from stock-based our the previous adjusted XXXX. end reimbursement increases compares compared experienced the year. -- X% and when $XX.X compensation of to and driven at the at previous of in $XX.X or million or cost of when the was net gross of activity, compared second before extended quarter of to on Revenues e-procurement million quarter XXXX income compared at non-cash decreases of or excludes non-cash million to multiyear stock-based of $X.XX the revenues Approximately which XXXX offerings. Total This excludes since of revenues second million before quarter was our the same $XX.X of of income diluted second liabilities. net before the of tax to second million the $X.XX, our other reimbursements XX.X% year. is This for increase XXXX. second and representing quarter quarter by adjusted in reimbursements net $XX.X and the million XXXX, Oracle of managed net segment in revenues, which a segment compensation or of company's expense $XX.X in million second range. XXXX. XX.X% application total quarter our the is second in the payable, of advisory, for Solutions cash expense $XX.X and common second income and performing XXXX the the of contract reimbursements, $XX.X been Revenues were share quarter both the expense an XXXX, in payable SAP accounts excludes second the Adjusted for compensation share million in research second or offset revenues expense income, non-cash of share stock-based assets compared XXXX includes second XX% stock-based income net and as the margin which in of second of EBITDA, XX.X% reversible before reimbursements $X.X partially

the quarter in and the prior Our September as of of outstanding DSO as well the sales year. at XX end day as quarter well days was previous or as the

company's average of from During the total cost we shares income of for the by vesting of approximately tax $XX.XX share to satisfy shares at $XXX,XXX. withholding the of quarter, an stock per employees triggered repurchased X,XXX a restricted

of repurchase $XX.X stock end quarter was remaining Our million. the the authorization at

quarter, The million. second During $XX the million $X the credit total the outstanding the approximately paid company's quarter second balance the on end was debt of facility. of company down its at

per now third quarter most recent $X.XX third quarter. XX, on XXXX, for the of additional to the the guidance million. third dividend subsequent September an company -- to of At the basis. The $XX $X days million. revenue share quarter, end, before our reimbursements fourth be Directors for impact record will in paid increase the consistent unfavorably in with third me, paid sequential typical of XXXX, excuse of meeting in XXXX we declared the for the seasonal shareholders its X, additional in a holiday by and quarter Consistent has XXXX. I company's third on and discuss range million Board During the X% of off company be quarter of U.S. on down quarter October Europe impact the seasonal estimates available with expect trends, of the to approximately for due U.S. time total to to summer $XX.X the the to vacations quarter

S&BT segment to up but be slightly year, Global prior expect sequential revenue We reimbursements basis. the down when before on to compared a

both prior common which quarter Oracle Solutions segment on when year. We income tax estimate net to SAP effective share to adjusted in of rate XXXX be diluted XX.X%. to the the compared before expect to of range in the We per reimbursements Solutions GAAP $X.XX third revenue earnings and up be $X.XX, of assumes a adjusted

a before gross as to revenues percentage of to We XX%. adjusted expect the XX% margin approximately reimbursements be

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

be the EBITDA percentage revenues of adjusted quarter range before to in XX%. to reimbursements as a We expect of XX% approximately third

we this to I would priorities turn it operations strategic on to flow from to cash market sequential coming to outlook review point, the Lastly, and over back be up expect months. like basis. At for our a Ted

Ted Fernandez

Thank you, Rob.

it forward, our we me As organization. long-term look share growth and opportunity the offers near thoughts demand and on our environment the let

interest services. demand automation to all which cloud compete as decision-making it of are high is strong, way innovation extended for be by across rates to areas Although their dramatically organizations priorities intended created applications, assess deliver disruption, impacted transformation affect. Digital the workflow demand remains analytics, competing it and influencing continues enterprise, business and the digital by

providers are to for the focus both most major that AI Gen the of unprecedented in AI The of solutions. have organizations we an digital value new have our been change what services, XPLR emerging, recurring entirely significant new potential investments resource performance training consider. Strategically, and existing of is will high-margin the is standards, However, platform, and we their and what making to on and innovations is rapidly this driving will accelerated all our unlimited Its demand believe describe services enabled our there in focus Gen is continue all result define is we to AI IP-related level associates. of which development will as clear offerings. investment development a Gen extend world-class the We which the capabilities. and AI software

efficient this could attract cash flow other retain. as are consumed only because they talented are also of you individuals in our a in way, at very organization, whether of Although [ our we pivot I'm be look any continue making aspect proud the as This of done to profitability, IT highly way well the performance. or our ] and we

XPLR are the the impact offerings. Gen vehicle We integrate of utilizing across all our AI AI platform the to as

critical to Gen to also support consultants upgrade will and further to our hire tech resources advisers data architects, our We key skills us journey. These allow in continue and become efforts clients' our efforts. architecture of and AI

halo application will by and AI services. be XPLR strategic on the only expanded from revenue benchmarking advisory that strong consulting our transformation We more to We over to cloud are business assessment, consulting services. This and intelligence platforms been our approximately executive years, continues. offering XX% see and the provides. IP AI also and market believe and broad our several to which effect, Organizations this it last downstream who also access clients solutioning continue our and our has likely -- utilize advisory other rely

to publish reports. continue also We our intelligence market

AI to programs. the and is space, have key reports and executive to solution the content publish We XPLR our our AI important on which in started research of Gen providers advisory

transitioned hybrid effective clients remotely, very our respective attract with to us responsibility continues. a to should expect their and to term, delivery side, personal low talent trend our model, This that us teams. greater moderate for remain perform flexibility with and sales access we continue. provides we This talent. to continue model which which retain defined to them. to provides valuable Longer Overall, to competition turnover we hybrid and associates allow and the during executives is On saw the have quarter, and experienced their

new to will our manner. that We will an allow channels to capabilities the also sell Global in us us partnerships strategic that XXXX allow efficient IP to current our AI through explore focused and continue beyond reach value extend

through create and Quantum fully enhances effort. We some the of initiatives Leap, of significantly with platform. inside of configuration to benefit the compelling these case life XPLR transformation that platforms digital process accelerate the decisions, But Quantum believe their of We the through all IP assessments, with Leap our fully AI our case performance redefine in of exist capabilities of obviously, which not allow leverage AI transformation leadership realization which continue value emerging the respective XPLR these our perspective enhancements due enabled entirely achieved clients has world-class also the and and [ integrated. the track aligns global realization integration been Gen platforms new technologies. our to over benefit value benchmarking ] software assessments of IP our flow AI These to benefit to be the and will on standards, are

we previous our As Relations mentioned our I website. page have calls, platforms on Investor the adding on videos of are of

to can of videos of before and Investors You end familiar to investor become see access utilize more portal be expect website able the -- we're the in us more new these the with through new providing our quarter. will to that capabilities.

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

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

our our to to call. of over Operator? move it Q&A the operator and turn me section on Let

Operator

of George question comes first Sutton Craig-Hallum. from Our Instructions] [Operator

George Sutton

you've to of mentioned you far put hundreds XPLR you expect meetings could And a to but strongly. you wondered increase I offering. have project detail more around low thus Ted, comments? conversions, if had the those bit had relative that little

Ted Fernandez

to our are probably is Well, use what of wants the or the now then changing executing Gen some launching clients their pursue. But in realization over majority also capabilities calls AI now first have which capabilities I to made I'll XPLR, since to appear narrow commitment areas the X driving development we're months to simply, may were we their and side engaging a very from dedicated clients. which areas to capabilities overwhelming is some say, it think be We're -- this the of effort. -- that both education there seeing have AI, clients, develop AI some business the who half really platform to very of identify try their cases, value develop trying to testing in the to improve order in that

say, we calls, first from the education, So moved and believe if of we've now more to take, meaningful client conversations. couple you then primarily hundred

means introducing in proponent simulation be investments with their understanding include were Let's led that and of strong to Version to we call design, making was to be critical of a now the a we're context, is. indication clients. One, what the couple some That's were say, a built, narrow or the both areas been they responsive XPLR development XXX considering wanted next was them calls, [ opportunity solution you favored should enterprise That better more the that capability highly much conversations full the it have which ] of things ideation, saw focused why in them broader AI complete is these X. a that conversation available areas. to what deployment. many since of opportunities now And them of we to a the

be, of we data have to making let's not a solutions, talking educating as we are believe that where that because it, starting, using believe to sources, And simulation more requirements, public does a -- other those we're is opportunities client that We all clients of all as they're that engaging they functional instead issues skills what highly both an the all facing. addressed are design with I'm we're of those how in of to discussing, about full where they're are developed considerations detailed private, sure business able that only full meaning mean? handoff, and broader they been their -- with moving we industry and XPLR now around a things to that will relative So and responsive [ all utilizing of their we to what ideate the that of speak specific them client where use more how of available flows process time compelling were level. as that the the also be clients. We complete them of can that ] in now by platform. inside believe and of more opportunities to before and it That presenting commitment MX can how opportunity, to numbers engaging find information our identified and speak client. We how that engagement to number dollars, us with the areas understanding, and have and simulated be do across designed, case AI meeting we've we call a we

are changes, about starting about relative to will cases these they we considerations. talking to of matter of to no where deployment now assess whether us client ability use and define the their or enterprise they're talk implementation the also walk into a and sophisticated, allow some opportunity All believe, opportunity,

are clients -- looking capabilities how to relative changing. to exception capabilities, We there capability going they believe Hackett I'm understand I'm develop not were a seeing the develop the of, they a they fit that was to say, the as clients where So, at going max capabilities, it's seem are were be we clients of of requirements -- versus favor those and where maybe the ]. we [ to XX% those direct developing engagement the of

our and have more them the believe believe and these with we complete capability. opportunity not to to a go extending only I do more back now that way clients I way to reengage So clients, serve

what we competitive. they're that believe doing be of going it, to and All they're see is our when offering doing we how those,

all And dollar so is reaction client the it's the request. revenue fact strong, or because more the going of customized have points believe yes, be the our we that changed also the times the of with we had Phase and more, call But or our will kind way, X, to customized longer validate those opportunity sequentially. enough come strongly mentioned I'll above. And they what to By when of that amounts close become it, call amounts in higher well, engagements. you to the entry revenues we've to continue increase success

George Sutton

sales relative -- One push part thinking to Oracle implementations, to the in an the strength give from Coupa, of believe to confirm in bit OneStream what's focus and their success I resources. other your driving you of question growing back that believe, because just And And IPO you called just through can there? And practice. update from just out you the a force. a And there? practice, you the Do that? on in area then Is predominantly sales IPO pulled mentioned relative that of that's that then I which challenge? a and lastly, they is, benefit us that's wanted e-procurement, their I

Ted Fernandez

say Well, providing that responding practice the our was X%, down or give that of that about to ] you up without instead X% question SBT better group, probably and performance perspective practice. to some individual that just numbers I'll simply excluding [ of

successful marketplace. is with the We CPM EPM do in or a X How your observations. believe agree OneStream we and Look, is providers successful. I Oracle both when top we there's So benefit? benefit

the transformation this and community. CFO side as as the very capability strong we strong implementation have from EPM, have in We in both very emanates the that the relationship with software well relationship

we fact benefiting like reemphasize really opportunity OneStream to for so, that active we an and And growth. benefits they it. we're its business. only creates to in believe that we're do grow an And IPO that from yes, be continue area, the participant the to if Oracle's and So going that also OneStream

Operator

next Our comes Martin Jeff Base with Capital. question from

Jeff Martin

I to X.X. deeper Ted, on AI little a wanted XPLR dive

much think particularly with this do conversions later you simulation that available helping difference How the in You will features, -- be new mentioned month. the close the

Ted Fernandez

value I more are that listening capabilities Jeff. we becoming how the informed. two-fold, of that And -- how through provide considering more context which believe we're extends ability sources, and and capability detail design, functional capability requirements they're and plan. strong think, data includes and and our their we it's offering believe clients I driving that identify the are I believe clients. our our in within are And the to that on all way to we more provides

So one important. things -- X are those

accept. phone, they which We were greater That credibility. that extend a thought scope, capabilities I back, credibility we're some now -- the the They demonstrating that's things presentations a -- present directly are through us think greater of clients When back. clients more that And also validation. called our capabilities extending and again, pipeline help to -- to picked the concept we with a given proof way all We from. they so larger were the for to of also us much we need up chance the in educational. called our and we are made respond believe, the early to. now We what hear has didn't us example, they

are capabilities and of [ client to the consider building we how and capability, I So this you've the learning got somewhat gauge mean work where aggressively a services, to are. limitations do believe capabilities start-up. and compare ] clients we're the the

of work just I to will compete some considering. and they're both And limitations, the you it that had us internal AI AI go adoption, through around all respond don't and those discussions of of the just and a all we've and capabilities. we again, trying platforms extend to kind -- chance and Gen to for underlying know capabilities further. And the clients the above give expect if we're their had still and platform us So level with back detailed development can to has volume to believe issues Gen somebody that continue of costs of

see You'll that aggressively. do to continue us

Jeff Martin

it add was The terms client. take simulation might trying how to simulation huge a a seems client? that value was, pulling of from long get entail at it's the does systems? data I all And what just for was a like in for do point their I to curious

Ted Fernandez

to first is the them can. Well, that we thing to get believe

feasibility you by the use we did available break them breakthrough varies cases. or information just first we've be a business cases XPLR allowing to the demos any of believe industry it's doing XPLR up areas the it of and call, inside the as know, that information going the capabilities correlates industry, use to started to for to direct or the that but when front compelling Hubble level reaction direct specific me and But the And not think you get when it? -- us the what that without you -- get result reaction setting from able are much in most is we about hard this and as us we most, is we so fact provide to we the provide in that for the cover. let our areas we be And of cases incredibly it apologize doing that believe, use information right incremental. So we're may the to we of transformative is and may any -- and how as the the say conversation and involvement with their of more publicly clients' client or client, for have a down of to are because any turn

also So then to benefit. we the correlate

think with extent, some we're our some we're have. bit conversations whatever having little and competitive. the that quickly capabilities And we that But catching going in a of in believe areas capability clients think to as I as if the we've developed off guard we the our I I we've we're clearly to emerge be covering, build to just opportunities this we're of space, extending continue had are branding. highly So,

Jeff Martin

Okay. for me, One more could. I if

You mentioned strategic partnerships.

extend Just to penetrate could there? us XXXX. beyond understand help you middle the to of intending Global that market? the you're strategy reach more mentioned curious You overarching if the Is

you kind viewpoint the -- if of you're curious strategic can give us Just how of

Ted Fernandez

our as the have IPaaS beyond Global strategies you vendor program. first, we Well, XXXX, also had in know,

sharing to some AI, their trying can extended support those capabilities we're by or determine whether an offerings, take we had So either of channels. where we've relationships their our with initial and conversation

So where is they go. see conversations, those initiated the yes. we'll We've answer so

area. has clients the discussion session So some transition and work call build it in we trying AI the of paid relative that of giving more new of are that of the these some success it, the the AI or because -- XPLR capabilities, firms X-hour, now by AI and cases these of AI that I'll to their and issues, XPLR attracted to than some some review around related one or all extending fact adoption implementation skills in skills Gen the and

So we into introduced -- and as walk providers. sometimes get we to some clients,

understanding So work out way and out ecosystem, of of whose good them. the with to a we're there developing kind best the figuring

Operator

Our Colicchio Instructions] question with from next [Operator Vincent comes Barrington Research.

Vincent Colicchio

shifting Ted, AI less on With here your market programs? currently focus bit. there is Yes. gears consulting, the a emphasis heavy on the intelligence

Ted Fernandez

are believe and ] requirements there and client you we spend areas continue you will believe the broadly, app engage when that want organizational it's We're the you or over We more a clients dollars at look strategically [ can existing obviously, we No. that But -- separate new our address. with capabilities when capabilities. to shift just at time, believe that don't with you to how ] to they help -- issues enterprise [ just don't interesting.

enveloped what -- either lack a or so or opportunity all is it, our, I'll I'll So Gen done AI more for any capabilities a, conversation capabilities AI result legacy in call better downstream term. traditional or it, a opportunity that we've call traditional we've opportunity with of AI or can AI consulting of XPLR

demand needs go-to-market believe to client emphasize and left Gen that trend out way. the So assistance. I that a we'll and so we look is do or the turn years, ability right our around organization the our the as as just it's the as benefit not to that that would use several AI significant me, it primary build same not

Vincent Colicchio

on at business the the SAP? some this closed towards of shift the had you thoughts -- momentum end Is said your quarter. you sustainable? SAP, What are then And

Ted Fernandez

to pretty -- AI you SAP want cycles. economic now you this, and both got AI throughout Look, cycle, have emerging it, Oracle right? and well Gen economic to Gen call performed And it if call

at the time. same cycles X got You've going

So Oracle -- outperforming. is obviously, is really Oracle

consider. they're given new when through best performing them -- some not implement better cycle. And case perform group well, where or it's the embedded has offering is been they've The economic I been have the to other the because opportunity and distraction that use SAP continue for opportunity think believe them -- clients presenting is or an to to you how also groups at just AI new we consider some both successful and have what everyone to now

to It a the all and competing there's deployment of technology organizational wins. of change technology leads change is our and good So business. for deployment and of lot the

Vincent Colicchio

growth see is growth your what top I in the impressive lastly, driving there. And strong some client?

Ted Fernandez

-- group. very our probably Oracle was obviously, meaningful into a it's expanded groups, our X implementation, but AI Well, it's of it including

Operator

further call time to back this now I I questions. the over At Fernandez. will show Mr. no turn

Ted Fernandez

operator. Well, you, thank

second We you you. Let Thank me look the call. third quarter when quarter. thank everyone for we our participating again updating in earnings forward report to

Operator

participation. may you this Thank at [ for time your Participants, ]. you disconnect

The Hackett Group, Inc. (HCKT) 6 Aug 242024 Q2 Earnings call transcript