EPAY - Earnings call transcript Q3 2018 | Bottomline Technologies Inc

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Operator

Ladies and gentlemen, thank you for standing by and welcome to the Bottomline Technologies Third Quarter 2018 Earnings Conference Call. Statements made on today's call will include forward-looking statements about Bottomline's future expectations, plans and prospects. All such forward-looking statements are subject to risks and uncertainties. Please refer to the cautionary language in today's earnings release and Bottomline's most recent periodic reports filed with the SEC for a discussion of the risks and uncertainties that could cause the company's actual results to be materially different from those contemplated in these forward-looking statements. Bottomline does not assume any obligation to update any forward-looking statements.

financial presented Bottomline's basis. a call, this results on are non-GAAP During per non-GAAP constant EBITDA, operating earnings others, include, net growth and These among margins, currency results rates, gross income share. income, financial measures reconciliation GAAP is Bottomline's in available these of A Investor section www.bottomline.com. to measures Resources of the website, most directly the comparable non-GAAP Bottomline will on guidance call. be the providing forward-looking the the company from summary A is call of the guidance available request. provided during upon the conference over our I would turn now host, to Mr. Eberle. Rob Please go ahead.

Robert A. Eberle

and both Financial your to quarter's for will Bottomline. the be interest was Rick you Rick Chief welcome Thank Technologies Officer. Booth, his the earnings will available for delighted review to with quarter financials questions provide Bottomline I'm an afternoon. our report XXXX fiscal guidance. Good I'm a here following for third our of in always, and what detailed excellent call. and remarks. I Rick quarter as And on

was we're for bookings, the with tracking for an I'm EBITDA, prospects delighted strong $XX excellent and I'm subs The excited more even growth, XXXX. million the future revenue EBITDA million XX% third trans the reporting. business. quarter $XX quarter. results FY we're financial about the and

and all new set aligned. value customer for market come. to on growth model years we're Our new is business opportunity, bringing and the business the customers We're product are lifetime winning of significant, ensuring

today executed million and (XX:XX) the In (XX:XX), we product trans ago FY XXXX the them. but FY model, remarks we $XXX are may At FY $XXX said results XXXX more profitable why revenue high million to had three aggressive, committed would. consistently $XXX confidence year targets winning; market we opportunity, large; $XXX targets. and as consistently produces revenue QX time, The months since to quarter business our and we'd important for we set we and and nine is a and million our which long, growing in focus in seemed Our show For I'm have on my streams. going have targets on those first our topics: subs fourth or XXXX exactly (XX:XX) exceed meet the track of million achieve of we a which EBITDA.

that on so, We're XXXX let and of the up in business than We're is the question prior we or market still we're the BXB in to (XX:XX) against businesses financial of me over the more of $XX.X U.S. as and a automating The highlights continue XX%. million Bottomline. in improves. $XXX Subscription subscription interest FY no growth doing on $XXX secure and do in overall increase the more Before accelerating. grew we're of third touch $XX.X front transaction transaction converted briefly was and and was paper year an $XXX market of revenue No that's their of products technology million; quarter. business our revenue We're the a trillion large And the $XX rate make spend quarter. transaction payments the banks grew rate Subscription really target. payments run check. tracks seeing well for that million, simple, year. was the and new Revenue and create in to by capitalize positioned as Subscription the XX% one well opportunity is million fully operating the seamless innings sold manner. attractive traditionally in importantly up the revenues in income for EBITDA growth, seeing wonderful million, product advances the market planning over strategic at prior ahead leader, bookings. cash was Operating flow profitable XX% payments The target million. volume is quarter and demonstrates product by set, year. working. execution are In from plan, in we're The opportunity XX% we market. and was environment million better seeing this so level early customer XX% our fortunate and There's is industry success EPS our At our such $XX clear position $XXX quarter These environment. in predictable million demand the create evidenced new growing. saw standards very we additional year cash, in free leadership expectations, capabilities. to our estimated reflecting $X.XX strong and was ended and all financial QX in generated. in macro technologies an payment the our a with product driving our $XX of XX% and for trends wins and at XX% us.

we million in transaction quarter row third This quarter the had During new a subscription $XX.X bookings. that and the of is over $XX in bookings. million with

year. bookings prior signed the evidence customers, this up new X banking sales (XX:XX) opportunity, management XX% and our the we In leadership, are value fact, quarter compared In third new and X Paymode-X quarters customers, market spend the over legal for There's customer product solutions execution. XX (XX:XX) customers. three to new

signed based highlights for Digital factors. Banking this number of won on the We American One confidence a $XXX customer's of with financial billion North our a in that suite. institution on was assets full

capabilities cash in current our of leadership was management as market product evidenced critical. by course our First,

examples a large established medium customer and today fulfill our are to themes product requirements to set, of to ensure a solid Our all aspirations; customers our Faster the these sustained million or carry as bank's to the innovation customer value The innovation of unpredictable trusted and delivering significant Open are been not customers today, immense to well. seen a customers ROI our on meaningful come. the market. across is to all latest thousands This commitment years technology record $XX when consistent platform benefit taken at PSDX and we've impact will value experience $XX an Banking technology product Bottomline customer expertise, the want relationships provide and like well and innovation. these impactful. our important thousands can result relationships. ability know will for banks of change standards organization $XX They our Organizations customer where major count I'd for connected $XX the or not even a long-term tracking perspective, enrolled responsibility, referrals our a (XX:XX) vendors to even from customer, their million, attributes we a these strong aligned commitment hundreds we and standpoint, them new markets lifetime change. Bottomline. so Bottomline was on large to domain select and long-term track they are but success, From record number. positive are We've continue comment leadership, lifetime million. in of finally, ways. payments, they us selects recent changes million track as win and value in forefront The Bottomline, were we've new be for look ensures as law in or and selecting From testament and Those bookings relationship future. to (XX:XX) or but which will as lifetime are firms us the references both knowing someone success industry they new of their the lifetime do commitment sustained to a growing customer strong of technology partner; just we're customer the also have of industry in to a on they on is to of as the and at do customer the experience from be innovate. knowing When perspective

become for the of decade there's is the of keep technology systemic, a with our already Bottomline, itself. model or as more. dependency our lifetime equally engaged is customers we operating important focus alluded customers mission-critical and nature infrastructure is to to, element When critical customer a success. that become Part value our and deep part First understand a the but our I've we their platforms customer of

to ROI in month, year. customers vendors day, each leveraging Nobody critical They're wants and to or Our on significant connectivity and move customers. platform our seeing are and benefits leave.

goals be which mutually rewarding a capabilities in a paying and From investment a business platform, and model. these businesses attractive against attractive or they'll grow. driving and long-term loaded. these decade commitments. more, add-on near-term new as opportunity That right, beneficial revenue additional and It's our as our front-end customers and So perspective, relationship model current buying do, to organizations highly our a balance the we is requires for us long targets treat their their relationships for we Bottomline financial growth

be Nothing XXXX. revenue trans million market. our much the way But for a achieving are and million $XXX our are actions We will big those are playing investments the FY set and committed to EBITDA with aspirations clearer, $XXX We're get that. fully our to very aligned aspirations. and of in simultaneously we the in larger and subs

can We for and to any way years our have that for to many We rewards the achieve extraordinary opportunity the with paid. to businesses get goal be extent, pay the come. shareholders

XX% value. which $XX allowing million $XX most the will and are and our an We transaction So quarter. new revenues in third recorded responding establish We to growth the lifetime importantly, on posted us revenue EBITDA customer are conclusion, grew excellent subscription and quarter total And in customers million was XX%. track offerings, in fiscal year. relationships, buying significant result for and to

including our And $XXX and confidence a a million we'll achieve Bottomline be have $XXX goals, have will the and rewarded. we transaction shareholders We million confidence specifically high revenue high EBITDA. subscription of

turn remarks. be and I'll Rick that, his available over both with us So following of it to will then

Richard Douglas Booth

Thank on report today. four strong focus you, another on topics I'll Rob. to quarter. pleased very I'm

results. First, our I'll review QX

how about on comment for I'll investing Second, think growth. we

to fiscal trans remarks. we're This million, to million, our ahead XX% recurring, subs XX% upcoming and results. year-over-year, $XX overall, signed in trans revenue detail provide third of full convenience, focus trans capabilities Third, the up my provides booking trans impact revenue converted on production, and improving visibility with And financial for our for bookings that posted on and of and quarter performance revenue strong, and XX%, well with We plan. products positioned time website. and figures report of of offerings, trans was delivered now of we is subs as XXXX. future of from our fiscal we new And brought percentage subs subs total growth. I'll growth, of us Overall, to revenue, continue differentiation on trans growth and from of capitalize total important, Beginning our our to customers came XX% $XX.X And of take to million points new standard. $XX.X ramp equivalent fully gives million track with also implement XX% their Equally Materials grew for sales quarter, to With clear overall of million I'll and and discuss million, addition with recorded to $XX subs business while $XXX on an basis. Supplementary in and subs finally, growth X $XX.X revenue customers your I'll revenue $XXX.X the us subs up XX% full estimates which in product guidance excellent quarter. updated visibility bookings this are our XXXX. the the payments' to in this us subscription. year opportunity. and we revenue revenue to EBITDA expected revenue and to address fourth trans And annualized EBITDA million the to and and results the

new spend the new insurers over another PartnerSelect. of law seven to insurers and channel the our brings attractiveness This including and and of legal on PartnerSelect. us our payment effectiveness mentioned, validating signed bank at to new a signed fully Rob automation Digital total insurer firms full proposition and products, our our Banking on partnerships. joined signings, payers, X,XXX customer large network, Looking network our XX added brand Four banks more XX of the part of Paymode-X value to management now

of EBITDA annualized an This million, basis of to Turning million from on up our model. is business the predictable XX% profitability adjusted year-over-year. evidence over $XX $XX.X of to profitability. sales We and delivered equivalent

core of was operating earnings operating up $X.XX, We bring over products to and also product drove which and core XX% the while share costs core $XX were year-over-year, year-over-year, established Overall, up operating income (XX:XX) delivered our million XX% per operating X revenue, margin respectively. live. our X% transition percentage XX% Digital delivered point (XX:XX) in customers income, implementation Banking and of because XX% sets income required

and XX% expense was percentage expense XX% subs margin or for expense marketing development our point revenue, was of XX% up million of or operating X year-over-year, point the or was Our million From was revenue. $XX.X percentage an overall and standpoint, of sales up gross year-over-year. XX% X and margin $XX.X million and trans revenue, of gross also quarter $XX.X

With front in plan the these market investments we XXXX. targeted in fiscal of in areas of for opportunity us, each

In Operating terms $X.X ended and was million, of after deducting cash flow strong in cash $XX.X of flow, well. cash million resulted in as which $XXX strong with it hand CapEx we to cash investments on and expected, of cash flow we as expect next million, was of quarter be and flow we free quarter $XX.X million. the QX

of about investment say and large bank current trusted our technology. capabilities, an There to of investments to our customer (XX:XX). now customer. relationships areas. is delivery almost to upfront happy significant these customer the value these reputation the a that in in live, or quarter we're stream. a long-term as our we over investment recognized will product investing P&L be words to and advancing revenue in long-term example this $XX our few to have Each are lifetime about remain and time annual customers. relationship them us the is decade expense. take services subscriptions this ahead implemented of but is a live, investment The of is think reward than for not yet banking to by Our size years these new sophistication two to a knowing a With A performance our we million customer like signing, partner they this good and how That driven absorb more. investments to bring as will which in innovation in implementation being and in realize that support other necessary means I'd our bring of solutions,

revenue guidance, Before expected impact get of we the new in about to the say a the like I'd few words standard.

that expense to beginning We our deferred commissions XXXX. will case that and our over defer still that standards. forward result we material standard businesses direct that evaluating is to of new as like evaluating recognized today impact our We're otherwise is the for in aggregate. Bottomline, impacts new time look impacts be adopt expect revenue standard the like revenues, certain will these fiscal X, today. the and standards, better matching effective July the and of the that be on upfront and would implementation in still that P&L we're the will impact expenses current other costs And the the but primary (XX:XX) be present Because for shouldn't new expenses guidance I based

to Turning guidance.

of income, quarter, to term. $X.XX QX and us per and to for operating core fourth positions revenue, and $XX and term overall million share. million fiscal XXXX adjusted million bringing in $XX us In EBITDA, fiscal trans revenue, the million well of XXXX, momentum $XXX $XX.X in for earnings for Our the $XX core in the longer beyond we short expect million deliver subs

$XX us EBITDA on of well and the XXXX, EBITDA trans detailed evaluating $XX.X and I'm questions. revenue, and EBITDA pleased prior $XXX deliver in million $XXX and XXXX. revenue, million, and $XXX million with our ability $XXX ability core target in trans the share. and $XX deliver of revenue, to $XX in year trans per to to For $XXX EBITDA $X.XX open $XXX to track and fiscal to million. million our of overall XXXX. growth operating million our subs $XXX million deliver call in trans $XX subs I'm EBITDA, and million to core of very and to million trans We'll adjusted can confident puts the million subs needed. each of we $XXX In $XXX $XXX million quarter $X.XX of million subs to confident to million conclusion, fiscal as We're $XXX third million And fiscal and full to million earnings to to XX%, to subs of modestly income, present million of million guidance that, to while bookings revenue performance $XXX of quarter revenue, continue updating raise

Operator

first the with Craig-Hallum. (XX:XX) Please Sutton our go is of question And [George] line ahead. (sic) Greg from

Jason Kreyer

taking afternoon. and on It's for questions. gentlemen, Hey, good Jason thanks my George for

Robert A. Eberle

(XX:XX).

Jason Kreyer

one First Rick. actually probably for

more you Just and from give throughout the that's bit coming bookings dive a from? – little been subs the that reported trans year just and some you that have can of sense bookings substantially this year, us last and up into where

Richard Douglas Booth

certainly. Yeah,

a maturing. of focus think couple payments customers really I solutions on of market business a our things. adopting focus, One the it's combination is

I on market, significantly ahead and we've the people causing It's our to that. benefiting it. products by of think attention look adopting, there's at a lot been of are so

with secondary is rising I taxes. interest falling factor think rates the and

bank Our commercial gaining customers. customers investing even also they're are on channel and more, more focused

So products. really, a market strong fundamentally differentiated meeting

Jason Kreyer

What color those like categorically, mean, of from? business are about on the coming which segments I any

Richard Douglas Booth

been It's strength. actually broad pretty

and strong Banking really as But I a (XX:XX) really – trend in stands been there's [Paymode-X] it's (sic) think broad including internationally. marketplace. Paymode being both out the solutions

Jason Kreyer

Okay. there B traction are question been existing (XX:XX) payment has guess Paymode obligatory A platform, ask to about On any those the on customers (sic) on the [Paymode-X] the customers I'll over that moving through traditional of I vendor just pay?

Richard Douglas Booth

right coming by it. will We growth logos, we primary now new ultimately believe really from driven logos. we're is exactly will where the conversion the but see ultimately to that continue – being We new which want happen,

Jason Kreyer

front there some in the to they what of seeing time? understand lot LTVs, customer has that's driven lot of the for that's longer is of a give seeing you're when there's from investment base. we churn in Rob, But customer the sense any and of changed Okay. deals. good by you're These of Obviously, a on that these those are happen LTV you revenue improvements color how customer larger numbers, duration? is just just why over

Robert A. Eberle

not sure seeing we're longer I'm Well, duration.

I too a business think where solution board. some of that model across the more the of hosted we've transitioned is to

the first on. So that's I'd piece comment

– well what our is I and though we've think to lead. as market able been product do our extend

they're So conversations means Open partner, what's blockchain and currencies are at across to that around and cyber making going conversations today, who's and truly the innovation couple customers around us here past looked investments payments, choosing it them but be conversations when (XX:XX) just trusted around just Banking, faster not looking to (XX:XX) to in other technologies be future. today, the who going years but be with of for and they're the not with we

able So regularly been relative that's competition get significantly and probably I change and ahead from we're seeing, to that the we've to the feedback customers. biggest pull I believe the that's

Jason Kreyer

I'll throw one there. question more Okay. in

attach a risk management, on the these more seeing shifting any you cyber when the seeing to little are go fraud, Just is (XX:XX)? buy-in customers, you bit rates back there

Robert A. Eberle

Yeah. of Europe, delighted just that I We're traction in was certainly everything talking about. have so example We actually it's particularly seeing a – we're to good strong capability.

follow we're us wow, capability at great looking that. about concerned and solution So an add-on a and for saying, question a we've on it's have It's with that. to security acquired and

seen in our So with and it into the solid banking Europe capability. will or surprise we're – cross-sells we've sells (XX:XX) if seeing with that actually upside platforms,

Jason Kreyer

Okay, great. lot, guys. Thanks a

Richard Douglas Booth

Thanks, Jason.

Operator

And ahead. go of question Andrew Schmidt is with Please our the next Citi. from line

Andrew Schmidt

have margin there. Quick nice Digital the question. for taking expansion there Yeah. my on margin the Obviously, outlook. Segment Hi, step-up you it's sustained question in Thanks Good nice to Banking and inflection Rick. FY the Hi, quarter. XXXX Rob. see

lot where to think you are just longer trans, the of business? You but leverage reinvestment structure it's the that, cetera. in the balance guys there's you shift look you it margin, Obviously, model in a margin seems the above have today. margin the well et progression do about things and and like How leverage increasing revenues, given the recurring term towards incremental with at of like subs

just term on on margin progression. So just curious longer thoughts your

Richard Douglas Booth

guys consider what and better is sales it is a There to investments the we innovation, think which of place target is sell also Andrew. we a in myself, said in customer less have this And be to we couldn't upfront our we'll delivery. last The then and want because that in need in making to also the inherent I hit that leverage way about do, we (XX:XX) marketing, get into do where cost. thing our to networks.

our play. feel that we So drive confident years a We multi-year growth of to for because come this I guide that think for room will in lot think is there's expansion.

Andrew Schmidt

then (XX:XX) And elaborate. maybe that Understood, could you helps.

good integrate Can cross-sell, few products it's how earlier assets, metrics a a to effectiveness and so together that have the the around stage? assets just few of about efforts in over some to the terms then and et you of effort ongoing guess, an these cross-selling? with past You number consolidate in products, been of sort IP the too, years. same you've approach, acquired cetera. around tying – talk this, I of alluded (XX:XX) just And but consolidate question go-to-market this any effect of of just at the very cross-selling

Robert A. Eberle

in is another from we're the set product payments. our those what the of position And in. to can bring all we're on we more better focused business automating is breadth one way seeing capabilities, Well, customers or

So unique certainly solutions. have Banking one platform we we together don't combining we with solutions is that Digital capabilities our bringing in see have other across that the banking payment category or capability may with Paymode-X in can and example that capability, product other competitors bring invoicing for these fact in that

in been a be advantage couple last and the it be as of more (XX:XX) that. and over competitive particular course year that's you'll the us next drive about for through of quarters, more hearing will focus we the So something

Andrew Schmidt

growth subs established (XX:XX) is strong. the you trans relative from just and Understood, the growth us waiting for just just and Rick, pretty helps. talk that breakdown broad revenue maybe that unpack just the could then on about question a XX% quarter, if and perspective in And rates a possible?

Richard Douglas Booth

Yeah.

very Paymode-X performing broad again performance the very, strong as payment and but across strength with the financial in think characterize business. well, dominant I can theme it our really I messaging networks

Andrew Schmidt

you guys Appreciate Thank very right. it. much. All

Robert A. Eberle

Yeah. Andrew. Thank you,

Operator

line go Gary the next from our question And is Barrington Prestopino with Research. ahead. of Please

Gary Frank Prestopino

but questions noticed I notes have that PartnerSelect everyone. by on of answered, increased about amount looks hey, with from the you Hi, there, Rick, my law like Most firms XX%. been at highly customers is this me be more more like a I firms on, to the the leverageable to signed Is PartnerSelect seems getting platform? product. getting to that key law mean, real on very least

Richard Douglas Booth

I two-sided network. think it's a

So of I'm XX that and long signed In the proud insurers law network, the we've do our results. early short will firms. equally days actually newest this, materially but the we on favorable. of the run very It's to X,XXX run, it think not it's be that contributing in our

So it's to the to already opposed good news P&L. come in as

Gary Frank Prestopino

other Mastercard had then have with you've question, of has would Paymode-X, how I And And Okay. Visa then capabilities the in how the is helped market? that on that that receive the has and actual didn't sell-through the both product?

Robert A. Eberle

Well, received it's fronts. been different very on well couple a

any to customers, to First a lot those means a endorsement a course, in the means means lot off, lot, organizations' participant of market.

a card not they a have they're accommodate they're them (XX:XX) established have where as well. anxious program Paymode-X vendors to accommodates that that payables us payers and payment integrated adopted yet the handle don't have to card so, do what's and what's type paying they where and we of to files, going and that ability an vendors can Second, they can payment going for through offer card any now we to card, that; their capability file segment send one say, Paymode-X, can our to

capabilities in rounded to make market. payment full us the the of really it's breadth the best solution out So business-to-business

Gary Frank Prestopino

you. Thank

Operator

the Company. And is next of Please line our Mayank question Needham Tandon go & with from ahead.

Mayank Tandon

A you. the Good questions. evening. on Thank quarter Congratulations, guidance. and and Rob Rick, few

relative that's historically. the look in we've growth First, seen what big when quarter, at I a third step-up to

love just the conservative, Rick, to there's are that hear into And would does XQ is downtick, XQ there the there's again, guidance? flow I XQ if then or in something being that one-timers there. not so, in impacted of you So the any context guide,

Richard Douglas Booth

that we no of compare last year-over-year, services one a it QX year nothing had one-timers professional you're always there's element. thinking material, I'm a if like QX nothing where in That of. tough (XX:XX) of but that $X contract. timing aware million Now, related There's makes largely to

Mayank Tandon

straight? look trends, on then at model as about clearly, reiterating we in, XXXX, Okay. just we think quarterly maybe fiscal we annual any how should your should seasonality but so outlook for And numbers, we the the have some you're factor perspective our

Richard Douglas Booth

I any seen different fundamentally recent drivers in years. see seasonality we've than wouldn't

you quarter know, for QX heavier be to As expense a tends us.

For timing of that that be coming example, the $X payments last million about benefits that's talked out, $X we to would million alone. quarter

So you side, largely be normal take will into think the cadence. I account it but on to quarterly expense can that similar

Mayank Tandon

should And Okay. And housekeeping in fiscal going a XXXX? in in of XXXX for and currently we rate forward? was also, you couple levels items. seeing that tax Could your there fiscal how any the model comment expectations the on versus you're FX benefit the quarter

Richard Douglas Booth

going can this doing I forward, is where the pound a wouldn't have if going I Certainly. model call. be Well,

Mayank Tandon

Right.

Richard Douglas Booth

our quarter. tax so rate, tax nailed we $XXX,XXX – for within the cash But estimates

From fiscal by announced that a we XXXX, So don't measure. far be XX% tax to cash core rate. a to we we I expect good on that's core continue use XX% and feel taxpayer really perspective, last for rate again the the tax tax about quarter most the important so significant

In terms going of the where pound, I than pound is better no today. estimate it is where the have of

Mayank Tandon

though? third material in Any impact the quarter

Richard Douglas Booth

the consistent prior was as a without with Year-over-year bit the Actually, well. tailwind, it was the has pound and quarter. pretty that a pound but beat normalized

Mayank Tandon

you. Thank Right.

Richard Douglas Booth

Thank you.

Operator

Brett line ahead. Please Stephens. Huff next of go is the Our from with question

Blake Anderson

XXXX in questions. Brett. for guidance Blake XX%. off very implies a for Thanks FY is of my obviously on was million quarter, I question, the taking previous believe the building Hi. This the for Kind growth strong subs about $XXX XX%. insurance

a for any reason drove about you downtick building little in, any that can talk XX%? any one-timers or conservatism So, you're that there? Or again, bit

Richard Douglas Booth

a almost the are executing out change that. reason set think simple and We now, executing plan been to plan. plan. I we've two see almost it's no years ago we as exactly as We've resolutely years (XX:XX)

Blake Anderson

commentary year? any clients remind how Got you Digital should can you next on Banking live add how have many us X.X then then, it. And you more And many now?

Richard Douglas Booth

live. So the next masked, a the big got And P&L legacy that base. coming the Digital that will you attrition earlier we clients masked Banking Intuit in be live so by year for couple with year year actually getting now. a We've talked about this see

see So and guidance, what going XXXX. live base those of of that's customers the part you more next Intuit you'll customers see of around conservatism going with continued our year, in live combined the in more

Blake Anderson

if about that even higher to right. that, revenue the income? pass you then of talk of earlier, can would you the to a or back your guidance end All to closer talked through that investments on operating above the little you bit And we've would dynamic you margins, were invest about experience or

Richard Douglas Booth

We're very disciplined.

So marketing see. on opportunities expect our right depends we to I it now would our against strengthen that we looking execute think delivery, at to capabilities continue would But to our advance opportunities plan. and and to sales continue that I the the our

Blake Anderson

last any Paymode-X you got those wins XX And sales the can on the elaborate the specifically down were (sic) XQ. into talked you at one, Great. can the APIs (XX:XX) good bookings, then released, the little How new about Paymode more you traction are the that talk from about a in [Paymode-X] customers, quarter? you just bit bookings, the

Robert A. Eberle

specific I was to it wouldn't quarter. release the but real in is the say new traction API Yeah, the strong quarter, a

quarter. than size the On actually prior we're deal a little the standpoint, larger

count. we a Now lower deal had

of and throughout – and reason have the over in we'll capabilities new Paymode-X this fiscal Things year. going next other belief seeing And continuing it that's the see to So and APIs quarters. like forward. we be really every announcing great couple continuing momentum

that momentum. Just we'll to extend continue

Blake Anderson

Thanks a lot.

Operator

have we further And questions. no

Richard Douglas Booth

everyone, for today. Thank us you, joining

Robert A. Eberle

all. thank you And

Operator

for be will Ladies midnight. conference XX, today after and available through X:XX May replay this made XXXX P.M. at gentlemen,

and our time for AT&T You AT&T and code numbers participants access Executive System the you Teleconference. for by International at any code Those XXXXXX. X-XXX-XXX-XXXX That all the of of dial using comments access Replay XXX-XXX-XXXX, access your conclude and Thank may for are today. does dialing X-XXX-XXX-XXXX Executive XXXXXX. entering XXX-XXX-XXXX. again may participation

You disconnect. may now

Bottomline (EPAY) 3 May 182018 Q3 Earnings call transcript