HCKT - Earnings call transcript Q3 2024

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Operator

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

Ted Fernandez

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

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

which it will earnings reported afternoon, of we million total to of of strategy-related We exceeded adjusted comments, will and Q&A. This our our quarterly then after up share guidance. both and which $XX.X $X.XX, revenues we per review open market

a quarter. sequential Our which the GenAI is year-over-year consulting in driven by growth revenue GSBT revenue is on and and GenAI revenue grew offset XPLR, emergence from basis. engagements, our by their in what our a strong weakness but eProcurement flat our This the group new segments AI was performance, on and being in new our strongly SAP segment continued Oracle X-P-L-R platform, the increased resulted basis

clients platform change continue awareness increase we and the AI education GenAI the should projects, throughout well way and consulting emerging space. to was ZBrain services seeing GenAI as capability are acquisition, which expanded The compete believe moving growth strongly opportunity important generational in us GenAI XPLR allow expect the further quickly have and the to are operate, the XXXX. We developed with are companies the part adoption We differentiating now sold highly this fourth opportunity, its way as from delivered. we and quarter about is and which will to in fundamentally of which LeewayHertz in a budgeted for platform,

segment consistent offerings. with we Oracle Enterprise or its its was dedicated reestablished team since Management Performance in performance early have XXXX Our Oracle experienced EPM when sales the momentum

life increase it quarter. expand closed sales attributable for Solutions value-added force our transactions, more quarter decision in the our several above benefited segment the row as to and Our SAP year is leverage third our reseller expectations last capability. This performed broadly which a to market-leading directly sciences

opportunities We continue GenAI to see the emerge.

to to this -- our make solutions important X. The a XPLR are initial broadly. XPLR considerations becoming becoming and ability most and is Global of meaningful powerful for adoption AI client and opportunities organizations new clients meetings us release with use enhancements to conversations demo the unique earlier improvements our new limitations. us XXXX recent introduction meaning have provided this version with are serve processes practice strategically the design to since with conducted their have use meetings our meetings year. now best workstep organization's of These level. configuration hundreds leveraging AI implementation opportunities We These along insight of This simulate We our enables concerns our or valuable an our to and revenue activity including favorably are identify opportunities evaluate We at opportunities our our cases, opportunities acquisition rates case use us IP, the benchmarking, clients. Hackett downstream by enterprise capabilities. knowledge and significantly meaningful capabilities software identify, data requirements conversion automation AI XPLR believe XPLR's AI or to GenAI-assisted including and business source AI that of agent LeewayHertz AI new our X version expanding and already using with and impacting

us the expanding resulted JV, first-of-its-kind The licensing implementation access will which AI ideation the advanced included implement and the to valuations in the joint LeewayHertz, which allow and GenAI annual achieve on platforms agreed highly a ZBrain recognized GenAI acquisition would raise and GenAI also software through solution, platforms solutions. able offering. to extend We value ZBrain, capabilities we entirely provider Software-as-a-Service we that It it us GenAI growth to LeewayHertz the contribute have identifying. creates opportunity AI cases acquisition implementation orchestration founder. with GenAI our for bring of AI capabilities was shareholders this also stand-alone software will opportunity our be of XPLR, and of XPLR JV could creation new believe focus a develop together use to its into recurring our of to that created Given an a were and to platform The the This creating a venture strategic focus. and from newly due capital result revenues. to natural for fully

X GenAI has architects There the well clients' is fourth sequential organization. potential aggressive XXXX we on and our our months, expect GenAI creation for is our no significant during strong third continue quarter just being will into to received Our pivot doubt have in LeewayHertz in of that with journey revenue quarter pre-acquisition become consequential and the quarterly growth, results. resulted impact could the which collaboration value our

add our AI strengthened by to and continue GenAI-enabled extended and driven engagements transformation have XPLR. capabilities We

Our licensing differentiated. platform prospects the to determine which their feasibility highly unique Hackett identify now IP, use implementation is ability and meaningful cases, leveraging extend

On the in content, believe be by GenAI GenAI invest executive programs. in our recognized which to interest is our infused integrate further by responsive growing advisory the move we highly We was now IP-based LeewayHertz augmented our will content, continue which to being strong this area. to clients' fully acquisition, the front,

impact. growth advisory our expect fourth renewals sales quarter program our We this reflect sequential to and in

operations On down our buyback the to credit use facility program of rather balance announced balance our accelerate can the in flow they our remaining continuing we us outstanding invest today, while in as strong cash near-term, side, sheet to stock from pay our to than business. expect our

million stock following as also start comments. $XX existing on let our million outlook addition the with flow ask make market us results, on comment Rob's as Our strategy back me leaves additional cash that Rob authorization Rob? said, operating provide we comments and million we will to to details our $XX.X quarter. With conditions on $XX.X and

Robert Ramirez

Thank you, Ted.

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

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

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

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

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

XXXX, million. third quarter were the For revenues of our $XX.X total

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

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

$XX.X reimbursements million revenues the year. quarter the third same strong revenues, year, for company reimbursable second IP-as-a-Service, revenues of our $XX.X in contracts. Total for in subscription-based the noncash noncash cost to X,XXX for of when our quarter prior before expense implementation increase million, and the million X,XXX revenues quarter an application or services and segment continue Oracle revenue adjusted XX% reimbursements software-related were prior expense and the quarter managed compared compared we've compared XXXX. segment million multiyear in before were benchmarks an sales of company These consist results from Approximately of by third year. quarter of Solutions of our our reimbursements prior compensation sales, SAP the the X% Total the of includes Revenues quarter our to the as this before all the total cash $XX.X XX.X% year. XXXX, since our the weakness were Solutions headcount the the of period previous revenues at the was exclude revenues stock-based of quarter. and Solutions end primarily segment or compensation to quarter and eProcurement Revenues for offset at from in the which consulting of mentioned, were reimbursements of company were in totaled third SAP Ted X,XXX recurring for research $XX implementation from to quarter As when the momentum of segment $XX.X of XXXX strong of end period the quarter, million XX.X% compared Oracle million before projects driven XXXX. Total advisory, as consultant experienced reimbursements for our third before XX% Solutions third $XX.X acquisition-related third prior increase and expenses, the our in the primarily multiyear segment in offerings. Total the which by in GenAI XXXX. of same third

segment was fluctuations, Oracle EBITDA, is of the appreciation of of XX.X% and noncash prior $XX per the cash the share net expense driven or $XXX,XXX $XX.X earnings which $X.X million year, in segments. Adjusted expense acquisition-related $X.XX. Adjusted the GAAP prior the compared income, as quarter or excludes million as quarter headcount quarter net was equity due was $XXX,XXX, and absolute expense acquisition-related the all of to GAAP growth $X.XX year. GAAP total $XX.X cash and net top and and compensation XX.X% $XX.X to share net share excludes in excludes the noncash stock-based diluted XXXX foreign prior from acquisition-related by diluted Oracle as was the above expense reimbursements the well compensation $X.X million increases of prior before reimbursable due or of margin our gross year-over-year all noncash year. revenues before of XX.X% or by our is includes expenses, year. revenues quarter totaled stock XX.X% expense for approved stock-based end totaled range as before stock-based increase all noncash excludes XX.X% noncash third to adjusted the $X.XX. reimbursements and third incremental noncash practice. of third for income or compared cash third driven to GenAI $X.XX third before noncash share revenues SAP to program net or to of share in million income and adjusted of quarter revenues our third XX.X% which earnings our price noncash SG&A, and compares Third guidance exchange compared on compensation revenues increased compensation prior million and XXXX is from and company results income primarily quarter acquisition per SAP recently which per diluted expenses, net compared per ending earnings noncash The of acquisition-related Total to $XX.X commissions of reimbursements, from both our million the GAAP acquisition-related adjusted dollar or million income expenses reimbursements the in primarily the in and third all which expenses quarter. year which sales. Adjusted as noncash before This compensation diluted reimbursements quarter revenue income in of from cash stock-based compensation $X.XX, and of common of in our common impacted in compensation which for expense and

Our XXXX on favorably to impacted $X.XX guidance lower for was adjusted approximately adjusted tax third GAAP last income due quarter rate earnings we quarter. net a we than originally when estimated provided of the effective by

by quarter. service end activity, XXXX to such, as in activities million LeewayHertz expense and in provided have compared cash reflected quarter of the driven offset either end at the accounts operating the on at the vesting noncash compensation Net from of our as acquired implementation quarter requirements the This timing the $XX.X net receivable. consideration of the or impact relates an third net stock compensation LeewayHertz, of Due company the were portion third did purchase AI announced a of this increases expense during the quarter Acquisition-related by XXXX. income GAAP million, $XX.X balances services for operations As September an purchase quarter, and company's noncash the for adjusted acquisition. the third of in rather under contains $XX cash consideration to million for performance was is partially XXXX, the acquisition consideration. The to the as of income previous adjusted not cash transaction, firm. primarily India-based than

as days Our XX DSO, to the not year. that to earned to for This consideration XX compensation acquisition days LeewayHertz the compared consideration end and purchase at or stock or Cash future. contingent include compared the quarter as days at the $X.X utilized day may outstanding, million does any of of purchase end for was sales in previous in the in amounted the XX the any quarter. prior be quarter the

facility. end third outstanding the company to credit of company down of XXXX, million. the paid the its During The approximately end Subsequent $X quarter third the the of XXXX million. balance additional the of the $XX has paid $X quarter debt was total of the at down million an on company's quarter,

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

At authorization Our million. company's $XX end repurchase was Directors of in of a authorized at remaining stock the increase meeting repurchase the quarter subsequent authorization. most share recent end, Board million its quarter the to company's $XX.X the

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

of fourth remind Before I'd our everyone quarter I to seasonality guidance move to the of business. for of like the XXXX,

would the quarter the revenue in company Specifically, The $XX.X of be to approximately fourth compared when the days to to million. XX% our and third is vacation the total estimates holiday quarter. range that for time the decrease before million quarter billing reimbursements $XX taken by historically XXXX increased fourth of in available

the the We income expect to share fourth effective in X% X% will on be GAAP prior segment to net total rate adjusted XX.X%. XXXX revenues per all up which in adjusted of the earnings of estimate compared be range We before and $X.XX assumes be to diluted year. tax when common $X.XX, up to the reimbursements company to a quarter of

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

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

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

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

Ted Fernandez

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

strong to concerns. assess economic be thoughtful for priorities organizations it digital areas, competing remains to traditional impacted transformation as demand in by continues due Although somewhat decision-making

program XXXX, area. into head emerging we expect increase solutions rapidly we and allocations GenAI to the to As client budgets

a were GenAI approach, in in we believe toe IT initiatives developing their While in focused areas. AI, the see will high amount and high-impact in XXXX, in specifically dip XXXX, of budgets feasibility of water budgets primarily awareness an kind and you allocated GenAI to increasing in

The We we offerings. which are which to will also have potential existing define driving expect strategy. to to investment in see providers GenAI-enabled this consider. but will we is for innovations, aggressive new XPLR, positions all believe new is any an level their services and which on most initiatives, transformations, of value of opportunity GenAI. with organizations to AI standards accelerated of continue and in an of creation making GenAI world-class result as quality and a investment have services, data entirely the The recurring value increase We generational performance focus will significant value This what been we're extend software development GenAI-enabled all focus critical in to investments pivot as shift our the associates. consistent well organization. Strategically, IP-related high-margin in believe our is AI and on training our our

acquisition accelerated firm our implementation GenAI further and consulting highly strategic and all of LeewayHertz, expanded Our recognized efforts. of a

the all of We are vehicle impact using our the as and AI to GenAI integrate offerings. capabilities XPLR platform the across

provides to advisers or to the GenAI to been hire effect are our of be value by our as the our position of -- traditional now impact to over skills effect resources platforms performance we rapidly XPLR GenAI the entry advisory halo will world-class further it from offerings. We strong around establish. standards clients' XPLR revenue us use expanded be to our refers benchmarking it consultants and several point our believe we primary enterprise-wide AI last IP with will our believe now this that emerging also as will strategic our the efforts. believe halo our We transformation, the the it offering IP-based other in upgrade digital continue to well our These believe The and of data critical architects, become downstream XX% fully only has will integration that allowing and and support XPLR journey. We AI significantly enhances IP efforts us. our We and services. strategic years, tech access aligns and AI architecture key that clients into

Another we GenAI-assisted knowledge-based AI. is critical investment to that our own called have made build Hackett Ask solution

the integration provided IP of content the that expect and in to We our insight. and we will now leverages valuable day, delivery provide our significantly significantly be insight our efficient more are asked to that with more personalized but every of a clients enhance GenAI

We we our proprietary support are benchmarking IP IP, consulting the required practices myriads advisory that clients, well as associates of are ingesting and including in and best to support as general. queries to research support executive our

initiative, We services. implementation-related but have the address efficiency delivery also which also of on and technology our a quality the extends of new embarked

harnessing power to with All in of solutions initiatives to of and our the differentiate GenAI these capabilities and delivery intent are growth the accelerate services margins. improved improve revenue our of and result and the

executives, to continue. to experienced the remain don't Overall, expect expect it agility side, On we that with for the -- high turnover quarter, talent technology low and moderate and we during continues. turnover -- continue and in to overall trend saw competition especially we

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

website platforms page on on previous of to can have capabilities. videos our utilize mentioned Investor our all become investors with calls, are I we that our of adding familiar the more Relations new As of

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

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

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

Operator

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

George Sutton

the to opportunity impressive has it's shifted AI here. watch Guys, how really

So, wondered version Ted, through I walk you could X.X. if

clients could about also mentioned pipeline specific is potential the or You've talk impact you've a mentioned you rates. you about And be more clients. just there. hundreds mean little meetings you you Can getting of wondered I had created? that what on a with favorable if

Ted Fernandez

Version X is significant. very

and we probably the X, half We hundreds first, meetings the of started throughout As beta of of you version George, through the know, quarter. nearly third second with version third halfway quarter. conducted a

with note even time think also our important to was it's also was accelerated. it I same around LeewayHertz, that probably pre-acquisition, it though that collaboration where

able way design becomes that anticipate business be knowledge. the that use was component to a or cost the say, use that And of we to to could conversion significantly version new and our lowest look we to meetings has rates given our those so enable previously unique very actually which evaluate were And when that favorable experiencing. What associates, was, we we're it and cases those simulate were beginning implementation of step, What's of, which to very related X, also the version X strong we a how that, about I'm capability include only not evaluate LeewayHertz meaningfully we to decided was we the the version inclusion our be enablement turned any a work makes response the cases, GenAI identifying. higher been identify us anything than out approach thought, understand we that impacted, of are way from compelling? their and granular So leaders skills because the to process at clients. but have X of held going and to from using getting very

too landscape their a client So, allows deem demo use what's provide them speak their important, exactly to and case integration allows enterprise, actually sounds the to important that that through entire about believe, we quickly we're client they that help what that -- know having us and by to or very the but true and to back and why available front, office. I version throughout with prioritize technology now clients credibility, to that be that is it us -- strong into mid X can it And areas be cases then to use good with that benefits information industry walk that a believe, related and with walk so we are hard opportunity a we provide of ROI. we the exists, what LeewayHertz, detailed the case use to and can a -- of now calculation costs call doing.

third favor and So combination been that happening has QX. mid- have throughout the with was feasibility we to has of are us that impact probably our in either believe compelling, a in of more close we the presentation and QX and those reengage have confident, seen more that things, rate much to led approach go allowed started back to or of detailed to impacted exposed success to things them to quarter but our quarter, that expect the continue we've all which part clients from to X, version that accrue the latter the with

George Sutton

our that Rob to doesn't relative water. get talked what you you just too out statement? of we build AI talk you But in mean terms know can about budgets with increased IT in model. quantitatively me I the initiatives in about Ted, that just toe to the 'XX showing want XXXX crazy for being how

Ted Fernandez

the clients launched. And believe the then all initially all all should see just pretty providers to Obviously, software We in then those software excellence wasn't out the ones consideration would solutions to engagements increase increase is, the and because do then large was, about and that their that engage their a out it, have client first clients, and majority service any strongly call clients. to highly I and the depending. for the ability But marked that they of AI platforms to services, strong expect education both jumped and service for with clients of what's early, engagement revenues tech capability sophisticated centers own awareness happening these relative that. step built

In the fact, I would minority. it was say

seeing any or start you're evaluating to do much want they for now place, where helping the how someone is, comes helping pretty outsource, of want well-defined in everyone in and now that that feasibility return ROI play. have when to to them we opportunity, what what build what enterprise opportunities identify So the benefit themselves they is across exactly and have initiatives. those the And they do where is should it a case impact assessment,

the that us So that, believe that benefit accrue -- will will to we accrue throughout year.

prepare So time results, very just we a year tell meaningful we the provides go to impacts will we exactly out it that but into and XXXX. believe how our as 'XX opportunity close

George Sutton

Great. Last question for me.

You really [Technical Difficulty] XX% there. to historically. I'm not sure what referring you're

to how you're that's -- I there I just opportunities. IP what referring make -- and sure shift in to of your attachment going want understand proprietary I mean you think IP I view. to

Ted Fernandez

and relied it would ended offerings, engage our are the program clients. those, clients from valued entry recall, through intelligence then market way subsequently Well, our us. executive then which as benchmarking those and on who primarily becoming strategic it And historically, our was point you came up IP-led when and meaningful advisory consulting IP our

also is So, its our because I'll to with revenues historical AI it, AI advisory our or through results IP-rich that, and wanted the in that call come the revenue those over points, but steroids point only our our our to total benchmarking will would and best capabilities were halo points by years. The XPLR on of which, our value driving effect to envelopes that clients practice programs. last is, more add make that several XX% also XPLR of entry I our approximately entry traditional from downstream expect capability, we that insight way, AI our XPLR executive

look IP-based should XX% at consulting or points increase that entry of the technology delivery XXXX implementation services. So when we throughout into

Operator

Instructions] next ROTH from question is Our with [Operator Jeff Martin Capital Partners.

Jeff Martin

without Ted, versus client if LeewayHertz? that were post acquisition could contrast having LeewayHertz the types compare going of of conversations you now prospects when I and was with you're curious you

Ted Fernandez

different. significantly It's

But that demo Some call more this engagement of those were we had we opportunity versus also it learned which and opportunities. new educational capability. we by started driven what additional qualifying as higher it, were taking, meetings I'll our, awareness-related we learning started

more So started to on demanding order what demanding to becoming happened as demo, on we, became it who I us more the be and XPLR to needed X. got for QX, closer as started think, in much we do only an call version releasing AI we increasingly

client call capabilities. our So delighted I'll XXXX wanted we at learn about beginning, that, it, new a Global the were just to more

clear it into that implementation partner significantly understood we could opportunity more, was that then influence credibility QX, on really GenAI we qualify having impact strong of call. with us wanted the As the got calls we the by those a and to and

the AI the especially due end GenAI IT also diligence, of partnering, which at called that around of QX, have strong capability organization, could strong went we to to became as a or in traditional you CTO AI needed leadership strategic got be other with. we participate completing either helpful, functions then demanding became have leader it's leadership C-level you officers pre-acquisition as relationships a we we and CIO, our within to or but have ideation across said, any along that more were collaboration engagement which So credibility, day, that initial and very very understanding implementation acquisition the through we needed both that that we with of opportunities. But realized or evaluation our

So just by are value have demanding. capability. we're more as simulation in delivering we now virtue we a believe the of capabilities, we becoming because demanding introductory lot call more that initial became of simulation full we And

Jeff Martin

for about capabilities? to talk personnel On the in might build your implementation implementation need are side, out further you investing that? in it scale anything perhaps you and plans what really takes else What to could order

Ted Fernandez

to GenAI are plans acquisition. Our the capabilities either part efforts the or aggressively LeewayHertz, that that came our increase development implementation with acquisition Hackett, part were GenAI of of and pre-LeewayHertz LeewayHertz

is we to mean, So, goal double I resources initial as those can. quickly as here

Jeff Martin

intelligence for side. one last then market is me And on the

intelligence provide us I an are further that key we're on to One build-out Could really there term. the business. focus of being the the plans end believe of to your inhibitor hires, market of update you what noncompete had and for noncompetition offerings? that a near able I believe,

Ted Fernandez

individual actually is answer Xth. the The on that, returns to us that

includes and So -- executive market of that our our the leader advisory, global intelligence he program. and was

all So of products. subscription-based our

And, with -- So week. and plan. I'm get try can't is started XXXX and we results sure he he welcoming to try to later and reengage this our impact year-end back him wait to are team obviously, that

Operator

next Our from Vincent with question is Research. Barrington Colicchio

Vincent Colicchio

you Should what Yes, expect side? the Ted, expect gears. Can this shifting we extended? to on weakness be should we -- eProcurement

Ted Fernandez

year-over-year away at impact where If it right of it end flat just QX. remains the is goes that now, to

So actually we that But close impact quarter. no would without in X% been to GSBT -- that. longer that up have impact, the will negative negative have

Vincent Colicchio

growth On should -- with strength continued with and quarter would nice nice expect we Oracle SAP. there? what seasonally And a basis, adjusted

Ted Fernandez

growth. that, The should his and you will expect answer is segments comments. our rates grow, to Rob consider just X we in X% year-over-year as provided indicate X% guidance strength All guidance

guidance. Rob's follow So

Operator

back questions. final further no this time, now turn for I show over at call Ted to I remarks. the And will

Ted Fernandez

you, Thank operator.

Let of and everyone fourth the call. in updating look February. thank for report on we early participating quarter that Is annual We you quarter our third forward third fourth in our the to our results Rob? correct, results quarter earnings quarter me when

Robert Ramirez

Third week.

Ted Fernandez

week. week. I'm sorry, third Third early

Robert Ramirez

Mid-February.

Ted Fernandez

mid-February. catching soon. for you Mid-Feb, forward look participating. Thank to up We'll

Operator

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

at may this time. You disconnect

The Hackett Group, Inc. (HCKT) 4 Nov 242024 Q3 Earnings call transcript