MODN - Earnings call transcript Q4 2017

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Operator

Good afternoon, ladies and gentlemen. Thank you for standing by. Welcome to Model N Fourth Quarter Earnings Call. [Operator Instructions]. Please note, this conference is being recorded. the to turn Mortenson host, now ICR. of will conference your over Staci I

begin. may You

Staci Mortenson

quarter on the factors refer fiscal full annual include and reports and Commission, be statements. those materialize of is The posted results is Commentary These differ was this should risks XX, uncertainties Form Welcome XX-Q David purpose on release XXXX website afternoon. for risks, N's year full outlook and on and Securities statements. on the XX-K are Chief A market are and issued financial Model earnings to including press after Chairman Should is filed year press forward-looking call Founder, N's assumptions. fourth forward-looking webcast. our close full me fiscal and Exchange September Chief made risk uncertainties our Zack ended Officer. call Rinat, subject for our which in where Officer; and information fourth call being today's materially and to simultaneously these new or documents quarterly Good may on XXXX, incorrect, regarding primary of any the statements of Model this year with prove the Please and provide assumptions quarter actual report to our quarter to or uncertainties. information company and on our from risks first could and results Executive our With XXXX. to today Barter, XXXX. release Form performance our call for Financial and

SEC Reconciliations not included non-GAAP be addition non-GAAP today's considered the are during addition, results. for isolation of These at will you to, Relations visit the in discuss our our substitute measures website. the non-GAAP of should to today, encourage on measures. nearest website replay which metric year a in investor.modeln.com metrics GAAP call, GAAP webcast our XXXX or financial and and from, fourth call. in In financial release available quarter as we to release, I the to fiscal issued reports periodic earnings this access Investor is press

otherwise unless year be our call me With the turn that, comparable to our for results in comparisons of will financial this period stated, 'XX. to over the Finally, all fiscal let Zack. call

Zack Rinat

then Good will start call that today afternoon, context us strategy 'XX I QX operational fiscal the in the in and discussing CFO, and year and fiscal strategy you to quarter, the consecutive QX for record of and exceeding one, two, well-executed the and and did lines annual quarter we as fourth top QX guidance quarterly fiscal overall 'XX; highlights, both on with bottom following cash our results. David thank a 'XX me 'XX Barter, and focus in QX, year of year reassumed year N fiscal and quarterly today. record ended record another both When role last fiscal joining was financial our first with and the beyond. financial details. year EBITDA results communicated we the four, February in three, November, CEO our discuss Day revenues; Model for record on Analyst with and flow. and financial our our adjusted and will 'XX revenues; recurring I follow the operational priority positive annual execution deliver

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would Finally, with including new tech in we from Revenue over Pharma cloud Global as fiscal X-year alignment on-premise will innovate cloud Probably like enabling Gilead with a made months for to Cloud such or the OPT. decision for deals purchase and Through indicators is better the med our strategy Management on-premise tech in that in XX their an Pharma pharmaceutical RMS. transition, are Validata RMS next a end-to-end of to few Model Their for Sanofi, follow-on highlight revenues. MedTech to N customer signed QX pharma an through during had offering. year particular, deal the Valeant to management, global a the their the X They years. and enables to our customer believe med our and, have been the Stryker, particular We Revenue companies move cloud. for of tender a 'XX no global offering. and step Revenue OPT, a manage One our and to many 'XX. continue is serve Revitas industry-leading Gilead. Gilead the to was name to initial was which stranger We now delivering in as decade I for Price for manage implementation we product, in solution, fiscal they global revenues companies year over that by and global strongest Cloud Cloud few.

cloud. We on-premise for professional our the as and are excited the transition testing developing, will migration are to to Gilead well for including as tools realize benefit we help playbook the customers services,

most fiscal Our for particular, a offering, focus key well the Management Tech, we rebates as were record In fiscal customers quotes, remains pricing, added towards upgrades Revenue business. space. also 'XX customer for and both SaaS, High in go-lives migration. revenue new the High comprehensive with end-to-end business as Tech to success to XXX% cloud pleased believe including contracts, Tech outside supported our our Application and to Data documentation cloud it for through driving on Management. Channel year Rebate improvements for High capped customers. multiple and QX 'XX our major our We is Suite areas made Management new Furthermore, now year semiconductor making we useful like acquisition on-premise more that

about end global across including revenue revenues. channel both company cloud the leader channel design both We direct an Tech XX,XXX Revenue Europe is XXX the and registration, deployed their pricing, will cloud Asia, manage users, be for and within contract its chip claims. and to quoting, debit management, for and credit Nexperia with High QX Nexperia a U.S. and also many deal for people employing wins, end-to-end the and logic in across devices will had discrete and Nexperia. deploy

partner and While into very data storage, go move The fourth X one, our excited we global regional are governance X pleased quarter, rollout High production. for three, equally list; and advance customer Tech. our the for rebate Phase In channel-based revenue wins, Phase deal went price with following, a Seagate leader included Technology, the cloud for live we with are live initial management global negotiations; when two, rollout our of the in cloud example four, realizing. and the of analytics outside go business is is of a industry live. cloud. our point integration revenue advanced revenue proud Oracle success Seagate differentiation our with very This the through great further cloud five, High customers; in I'm a waterfall of maps data semiconductor analysis; ERP and Seagate ROI of initial execution for and delivered proof revenue this price the automation process of both meaningful Tech. for

profitability. semi Tech fiscal management to optimize of and N N accelerate and to and cost a We 'XX market We our six, delivering progress management the significant deliver our High of our success and med Model accelerate XXX% of revenue Pharma and core Tech further enabler this Revenue Revenue profit two, revenue; SaaS year to their of our enable our and end-to-end and cash and and by of positive verticals sustainable Model our and by record Model of for tech, one, in XXX% fiscal Cloud integrated and the excellent mid year N. year installed clouds strategy innovate and drive to for growth 'XX, are for was building in business for the following growth MedTech, the to shareholders SaaS building In of Revitas, customers a as flow; High strategic revenue on four, expand advantage into the opportunity cross-selling the particular, land for and taking transition upon in and the expand Cloud accelerate made cloud management. revenue deliver goal customers markets; the and, strong our complete customers base; becoming pharma revenue conclusion, and three, transformation N; successfully maintenance for areas, revenue leverage of five, cloud a structure Model upselling for deliver our complete to

initiative in our I the for well to for results the outlined line Our of XXXX. now more year to QX success. believe around and organization discuss are call I'd entire David? guidance positioned like over we to strategic fiscal David turn and and is financial just

David Barter

Thank you, Zack.

Revitas of fourth acquisition, were decline the growth, growth, million adjusted across margins, this leading is maintenance and had driving and free were Included was during revenues a revenues million increase a continue through implementation maintenance our maintenance key and operational metrics, way revenue positive $X from $X.X we approximately quarter, and make A and quarter. and SaaS the progress organic million, prior the the year-over-year. million, fourth another SaaS the acquisition. growth revenue in SaaS Included XX%. we the leading quarter particular, from flow strong We in period. this growth In to $X.X year XX% company's License is Revitas EBITDA and to cash objectives. approximately business in and $XX.X scaling financial including to gross X% the measure achieving attributed

Total we as longer we on-premise XXXX no the and to well continue year-ago a $XX.X perpetual our burn million to in decline and the line $XX.X the in total licenses fourth $XX.X reminder, backlog revenue the off period $XX.X million. customers to of were fiscal from above revenues guidance a and in cloud. this million As sell range for quarter transition million, XX% expect the increase to year revenue

a $X.X accounting also purchase entry Our reflect revenues of GAAP million.

million of remind QX operating the was in of non-GAAP is to XXXX. the our XXXX is be in Before fiscal $XX.X the compared share shares $X.XX loss on, million a $XXX,XXX and quarter $XX.X a loss quarter to a fiscal I operating commentary quarter impact gross million largely the quarter net the Non-GAAP $XXX,XXX. I year was XX% fourth share per operating fiscal better margin to $X million million $X.XX excludes Non-GAAP of produced for XX.X fourth of operating compared issued per loss the $X.X $X.X the last fourth earlier prior was earnings on in period $X.XX to XXXX which of results, our our was on accounting. based Non-GAAP a decrease profit for expense basis, was a of million quarter year. of quarter The in $XX.X loss XX.X to share. non-GAAP million year. fourth move to fourth compared the to to per sequentially million of to loss of in $X.X the quarter, period remind terms. of not fourth GAAP last driven positive a in fiscal in Overall in was loss for year. to $X.X the XX% uncommon net business. from from was I XXXX. in fourth ended compared a operations $XX.X acquisition. $XX.X of the billings and with an you prior quarter loss $X.XX by in $X.X million fourth provided On driven There customers financing gross and in revenue for measure than results million, fourth million, Revitas We fourth operating Non-GAAP a of synergies the shares non-GAAP quarter of the focused in million the ahead This a will fourth with of that profit quarter of the to reconciliation net expense $X end in cash Cash million period sciences free $XX,XXX of of purchase net legacy of in quarter. provided the the loss payment a and is non-GAAP the guidance loss software is would full compared free last up press GAAP fiscal $XX,XXX, was a $X of fourth $XX.X non-GAAP was my quarter $X.X a $X.X cash million million $XX.X flow release produced today. loss which based of want million of net compared on A to maintenance guidance quarter. was to GAAP year, at last which of by our compared deferred quarter. not net of the million in of of the expense Revitas revenue of GAAP negative capitalized the $X.X by the compared life was is with net for the quarter million, quarter meaningful $X.X Adjusted of This cash operations CapEx in million cash compares the on-premise the million of in in At seasonality of quarter negative acquisition. after after compared the and also to last from improvement used inherent million We to quarterly fourth difference $XX.X million. flow $X software of some our of quarter negative associated $X.X negative $X.X cash capitalized to million flow third CapEx million. adding million approximately $X.X quarter end and have million. our in which year-ago like of $X.X of deferred the XXXX. the flow fourth It's of The of total million the equivalents, $X.X of adding perfect loss business. million fourth quarter the you, is produced for the EBITDA in

grew on Let compared and total the XX to of revenue revenue an year was recurring for loss and was compared Maintenance in an of loss primarily from Non-GAAP fiscal was at million fiscal million. in a compares Non-GAAP end XXXX. Total $XXX.X million to the Revitas $XX.X to XXXX. September $XX.X at compared XXXX loss year for fiscal $XX.X year with life year of hosting Total was improvement Non-GAAP million $XX XXXX licenses net related to operations XXXX Adjusted million. the me was briefly was full for million touch approximately to Within XXXX $X loss fiscal for results. EBITDA $XX.X of fiscal to loss arrangements with XX% $XX ARR for from million, $XX.X to was customers XXXX the ARR, sciences. year net $XXX.X operating $X.X $XX.X Annual fiscal maintenance loss $XX to in term XX% revenues. in a XX% managed was gross fiscal million XXXX recurring revenue year to XX% was XXXX. $X.XX million fiscal compared services of or and acquisition of share loss which fiscal revenue, compared share a loss SaaS year. million increasing GAAP XX% subscription net in of million year year that, a year $X.XX XX% prior revenues. the in or of for year XXXX. per total Included per the was $XX.X Non-GAAP million fiscal of year margin million the prior year. in or the revenue million,

million used million. in year, the flow was operations was cash free For cash $XX.X fiscal used $XX and

Before business on like Revenue initiatives, how as SaaS see we with the several XXX% maintenance in year would on and guidance this, to growth as and driving Management move With revenue. XXXX to remain license expect implementation key thinking towards a revenue. Service and ongoing declines QX, for fiscal focused perspective I we our we're about the business. provide I one, We provide

For year between XXXX, of revenues. XX% expect revenue to fiscal XX% and we total SaaS maintenance and be

we from rate year. profitability. start approximately of increase to meaningful the and Two, to expect the fiscal maintenance over expect and We of scale year revenue contribution at the levels course exit QX delivering and XX%, of percentage the SaaS the fiscal

year generate in cash the We positive flow. EBITDA building each expect sustainable quarter be XXXX. of of adjusted to fiscal to Three, business levels

We of expect the the first to QX use corporate the year cash annual due of to and commissions part bonus. payment in

positive be in is acquisition. Revitas that On cash of the you have $X cash to related a expect We free flow back of will half nearly million the free we basis, it reminding interest worth to payments flow XXXX.

XXXX paying part We approximately our be will $XX $X free improve compared by the in our latter of of million the Overall, we cash also in year flow XXXX. million to expect debt year. to fiscal down fiscal year

XXXX. the expected the fiscal corresponding for only of revenue which note, let year. GAAP guidance fiscal be quarter on, the first guidance for year will it includes as year it quarter range as to and $XXX,XXX Moving XXXX $XXX,XXX, impact to is in full Revitas, purchase accounting is expectations of adjustment the our our first Please of and well guidance, the me outline for this

and reflecting XXXX, to our fiscal the selling recurring revenue maintenance SaaS For and fact revenue, our that shift year longer driven licenses. be we're expecting the we're no towards year by perpetual growth full

For of total the million full we expect $XXX $XXX million. revenue year, to

at revenues our OPT, no sell maintenance in licenses, to XX%. grow. subscription and SaaS program driven not organically growth will our mentioned and we We grow transition, be Since maintenance on-premise believe growth professional expect maintenance to on-premise longer expect which and or We related our services by earlier. healthy we least do to SaaS cloud Zack revenue

as and backlog. license expected decline revenue burn is Our the year-over-year down to implementation we

range from average per the expense We operations income to shares. $X.X based $X.X non-GAAP This million non-GAAP on $X.X weighted loss $X.XX and the fees. a assumes expect of of XX financing interest in debt $X.XX share count of range net million million share to in million approximately and amortized of

the year million. the $X XXXX, fiscal range of adjusted be full For we $X to EBITDA expect million to in

We by grow to approximately expect XX%. organically ARR

first XXXX, December our the million. For quarter to revenue XX, in be total ending $XX expect $XX.X of to million we range

$X.X the We non-GAAP the of range to This million a in loss shares position. deliver approximately of of EBITDA a of sustainable amortized expense of a range healthy in non-GAAP debt and to is a million enter We profit net lead fiscal levels $X.XX $X.XX growth We're weighted to expected per and $XXX,XXX. and operations expect of average in financing XX.X would of $X.X profit. building be to loss Adjusted company count XXXX to on be will that share based in net range assuming a fees. million. interest $XXX,XXX the to share of $XXX,XXX a

very future focus questions. call bright innovation leading and Model to cloud industry turn customer leads the to in for the a product With on the over that, for N. let through are we success, operator We our believe, me our

Operator

[Operator Instructions].

is JPMorgan. question with Our Jackson first from Ader

Jackson Ader

assumes like investments. income It non-GAAP side. guidance First operating question our from the looks some XXXX

that guys lines where been some And synergies XXXX? David, and think, in, first have was those cost baked full investments you so in of reaped you operating being these think quarter in see do mentioned actually after the this you'll I Revitas from synergies the

David Barter

investing in of too Yes, operating not on expense, terms we're planning actually much.

an we and we'll like picking we're really of a think all, Revitas I in But Jackson, R&D of great again, investment I sales little of team and through. the us believe just growth bit marketing. through all team, sales a we up pushing feel that kind in terms kind of kind have think, and of will carry that in

is of think kind see focal in We'll annual I review. the some obviously wages. kind bulk so And what of kind raise you'll P&L the the of of

a kind run as benefits our package. QX have work terms little least the think in in from around core largely benefit of do through bit cost all, to employees But just structure headcount I kind we through we of to take will 'XX of at 'XX. all over of

great the So investment bit around a a little edges, not deal. of but

Jackson Ader

Okay.

Okay. And for question you. a Zack, then,

I had make said, they to on-premise On was another mean, the was toward guys going product? here a be in should a the moving cloud what? Gilead You sales the cycle case work. say, gotten a just we're How to this They deal, taste transition. Okay, of you complete where know cloud really involved the infrastructure? this

Zack Rinat

the Cloud market question. prefer while. is N have that's Management, And delivery in best model is sciences life at And that's Model stage a believe at the this know, benefit sold took evolution. of and over kind the as the you companies. for the the innovative it thought we and becoming become is you ours, kind quite to delivery to our in yes, board. going business kind haven't the customers are that's the for a as And on-prem, now way actually model the cloud I prove apparent that the including Global core SaaS on-premise solution Gilead core that really took engage next industry. It look Price And all the Thank we and rest time it's on from of implementation, really to direction. When to of customers you including prefer realized application. way the of company company, us to across of only they time, actually lean the that solution, the in any this for model. the the an for kind is until a that realized previous you of And the the look references. And Jackson, and applications benefit be think consume, market, success move Gilead some the the of people some the leader. including of I time get that when core of the

Operator

Bennett Our with Craig-Hallum. Chad next question is from

Chad Bennett

on execution. the in Love of guys. job cash quarter, sheet make Along I I Great pretty and number good about quarter again the generation like flow conversion you Gilead other SaaS. the that deals, Sanofi, from a terms kind of currently, deal you'd quarter, to of improvement. it's the and clarify. for Valeant seemed the balance Nice which deals it's guess Zack, multiple a the correct. I with like on a mentioned or just sure ratio I is want those talked of standpoint. call to whole think on, Gilead conversion, booked you kind maintenance of or I it, And then whether whether conversion dollar top you maybe conversions the that, Stryker, other looking Were in names if quarter, if were year? what deals could Gilead have those the or the it touch in

Zack Rinat

Right.

quarter. the and were the just we these we that deal, we It's were on, significant so the addition on of named And of that. others clarify a of quarter, basically wanted in were previous in not few to a deals to the a follow had deals first kind in all, kind X of deals, that So these and follow-on deal. just in the mentioned were conversion that kind closed

highlight in said within our with range base view we kind we these conversion what We lot through of Gilead the right called the to cloud. between And because installed and a significant in support and kind Xx, So and of is most of the of interest now about that fact because Day, start to of of I'd of of maintenance this kind of point somewhere then conversion to conversion when SaaS. the from of see fall spoke a it we Analyst is X to this. that there the deals like

Chad Bennett

a for standpoint? a if maybe you year it. update David, Got David, And couple us may. Helpful. I ARR exited from on you then the did where SaaS

David Barter

did. right I year the at $XX We million. exited

shared what right end at was ARR top finished the the I So range. the of

Chad Bennett

growth then off how that is Perfect. it. it? about talking for And XX% you're that Got fiscal next year,

David Barter

what exactly internally. targeting we're That's

Chad Bennett

down, Valeant versus were you Okay. number do a deals with think selling break to versus kind much that growth in about XX%, And year like way real Sanofi, least benefit break that there if kind that about you at wins? think that additional Is of Stryker of how kind ARR net we conversions and new this directionally that like to or down talked that? of it of

Zack Rinat

in we and information, weeks. important that's Day couple Analyst will So a it share our in of

opportunities, And so the we I following I of this at mentioned, in kind think X. as kind company, of stage direction when look the you the of knowing the the see

device we in. to customers current the our part In of to of that The look expand Then expand mid-market first And beyond one us Tech, moving High is have look pharma at ways also have. an to are particular, the also when when medical kind in we in opportunities you the to and you and at exciting really sell base, to us. further in the that an the gives we and cross industries upsell of to as move to them main is for focus customer cloud. that is plenty cloud, opportunity them our

the of strategy two of for of the and going these that's year, outlined. next kind So that to the kind for we in ARR yield are growth part the endeavors

Chad Bennett

guide, is L&I on $XXX some at annualize at you're if $XXX the license. just have number, I one And maintenance million one conservative $XX for business, in whether And than execution that needle together guide, the you David, guys $XXX obviously, missing them, bottom headwind to next your which lied, last I you attached it's it know of year then you mean, it. million your But the where fairly look million, it the every just of record quarters. looks even of services at guide. move growth, now should been sorry put at to I track a point X me. flat specifically kind piece if growth reflected your a line, Am end million, more on and But me. right? I strong and Got has again, SaaS I the first quarter the anything? the on to have quarter and last overall

David Barter

the the I that keeping implementation, we're to talked we out think really Model about orders, that but legacy would customer number the add continue it. committed that There some call to N to backlog may I to on down. kind old not and are so of backlog sign for and only of is may Revitas that and business, be the we that really we a on-prem we change have on thing have few the driving of projects one actively we where Well, adding coming kind have

go through And one, implementation. it transition bespoke little you customized think pause it's whether is to plan other I what's effectively conversations a on-prem where guide that a almost out-of-the-box a to work bit through take the of native, that's in is these the Chad, diligence a is reflected from and work as while. Gilead you a is conversation, whether implementation And cloud what drives these so conversations, it or it

you guide why XX% what of that's think I share kind organic the our SaaS contemplated and it's so to contemplates, right when the growth. on -- that now And the wanted about business, guide is

kind grow on chapter of while, laser-focused so way company. back pulling prior a in again, to very of from I thoughtful think And the continuing one we're that that pretty

Operator

Chardan. question Steve from with is Wardell next Our

Steven Wardell

XX% in growing contribute in that, faster you Can is that and pointed my break XX% down? than organic others quarter. products faster So growing others you And growth? fact, what to are segments to the help are what that than question growth that of

Zack Rinat

growth when mentioned, I as for so look of the the Tech. was you first record both company, at Yes, year all, Sciences of the, Life this for a and High

about others. was level So can did pharma And spoke definitely space actually revenue Sciences, device next kind the view. verticals about from both OEM semiconductor medical well this the High on the for and to Seagate, and and we good of point we outside all in able segment. very a of aspects were Tech, speak into for we both about year bridge in when Life of In

when like speak board, High sell augment CPQ, about end-to-end industry-specific end-to-end those like the product our revenue of Nexperia you So sell do deal when and with of end-to-end we or CLM solutions installed solutions. solution it's now like right cloud so Seagate others, we then basically current difficult When usually an an or for for pharma we a device, base, the solution. look Tech. a across at we complete kind the specific augmenting medical or look to And very they because with for for the kind implementation, we

we narrow So a when don't to this to in And sell they application have. down because it's them, to and different solution. tough end-to-end sell single product just different what customers we an complete we

Operator

from is Brian next Raymond Peterson Our question James. with

Kevin Ruth

for on Brian. here Kevin

that, previously go As you versus think you look cloud-oriented with solution? part, at potentially as the do to for Revitas sales you maybe, here business, acceleration of excluding year, in looking your guess, Veritas at that's exit we I the customers accelerated a opted cycles

Zack Rinat

look decisions, have sales And they than know, significant kind little they it's now, not at shorter but and people in a it's pretty purchase cycle you are bit lot make been would in When decision what of a of when say a much. you significant the the I aspect. as right past,

a an really because financial it's of And it's end-to-end for part company. going there of as that now solution. context to the of kind to it's the companies stay be business. solution transformation transformative, especially becoming they right organization first because the of the the while in in It backbone has and kind of think of to digital I this on technology the cloud the impact advance how in a very use one big is is

So a would that the say are sales bit by not cycle little I shorter but much.

Kevin Ruth

Got margins last few into quarters. secondly, then fiscal Revitas you going further think 'XX? upside it. acquisition synergies? driven the of And by the we'll about has maybe been been has How better-than-expected much And that pretty think as do see from improvement we profitability consistent

David Barter

communicated certainly executed But Yes, the early the be tends platform, good I to margin AWS, we pretty -- mean, think obviously the I to thoughtful business, it had through about a the gross kind kind just of made think all and have we part modern obviously, I of on the when you based execution, decisions the we for that pretty think the that more is that accretive. on environment I the it attributed and playbook. we cloud think of we put really

So good I a a business. think cloud modern of I and building it we're is we're, think, execute of combination then ultimately business where one trying operate kind to great kind and

Zack Rinat

there capability build I really is economies scale. what think of and we And

proud of is on also starting to because of say have that aspects, we very think context we early kind you the the of to to at the when that of is And of move have basis] still ability so go-to-market them of we things better about as of much the than as way would actually accelerate I accomplish. it results, it is basis business, but some then of and much on cloud, can the execution team tools. remember but with deliver I the because the able And days, there. the we And been some now execution the what We have of we the has infrastructure, overall always, look the Revitas, of need scale company we have on kind have organization, the we others. the as in processes, execute. acquisition, our obviously the better develop kind to to all that working we to I as I'm And better kind on team

Operator

Instructions]. [Operator

Our next question Group. Walravens JMP is Pat with from

Patrick Walravens

going sort on heavy year? of on personally lot are the the gotten your that a So of areas lifting acquisition, the now you're you've done focus what fiscal coming to this this Zack, of biggest sort that

Zack Rinat

of So a couple aspects.

doing first of market the just I very the and product. feel feel that are there, think is our ensuring that about the is we terms the good one we best go-to-market. strengths I of in personally job

to kind in of in, to be terms So on accelerate and those go one to that going think focus. of area really that's gives an push of kind us opportunity of go-to-market, I and

we to bring better. can there variety second of market other that and the cross-industry few top technologies, And be kind working right the others, the of industries and and now that because to to are The leveraging that kind on the to can identify the transition our elements we overlay the with I we're now, grow cloud new such them company right of help the customers of that products new collaboration, strength customers believe of and current to with the one solutions. as our is and and things has AI

of next a we to need another this So aspect there. do point and stage growth of looking be going to from really is the is at it that what product

Patrick Walravens

Great. things And sales look fiscal close QX? people end heading the the does year, How I to into out. of pipeline mean, try

Zack Rinat

kind very about good feel We our our of business.

we the what now. confidence have now high we Pat, a to a communicated plan record year You have it's and all in to year-end, the we us, of to our you But of been a kind we of traditionally have And fiscal that end as it's in quarter pipeline. good September very remember, feel right we slow kind right level in about quarter. in the company, and of the for a that

Patrick Walravens

plan I the all due sort be Dave, of and it down? us what mean, of Great. think And status of it but know there, it's Can remind comes debt sort to just I for of would when the I then, you, you it out the pay helpful. is

David Barter

Absolutely.

comes it's kind later. wave of note, first X wave then the part XXXX. that approximately kind And is of this think, and I of the of June of end towards the due next seller's debt months due, due, So of the is

very how turn comfortable from be It's cash starting and to cost Obviously, of of flow take kind opportunities it. So perspective. I opportunities, flow to of a to up down that cash positive. within of kind some to the new opening ahead we're it's with debt. look well think those corner kind kind the starting Pat, of starting we're We feel at

Patrick Walravens

would Yes, great. that be

Operator

this back Zack to gentlemen, like I'd session. Ladies and turn closing Rinat concludes remarks. for to the the question-and-answer call

Zack Rinat

Thank you for the all joining today. call

Revitas what able 'XX. accomplish have year the the of proud results of I'm acquisition in execution to very are on very and We delivered. proud we that of the we team fiscal

We we're company and XXX% And joining much the forward are call for to again. you thank a looking looking SaaS 'XX, very company. the fiscal turning forward year to into

Operator

conference. This concludes today's

Thank You your you for this participation. may at your lines disconnect time.

Model N (MODN) 7 Nov 172017 Q4 Earnings call transcript