MODN - Earnings call 1 2024

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Operator

Good afternoon and welcome to Model N's First Quarter of Fiscal 2024 Earnings Conference Call. [Operator Instructions] As a reminder this conference is being recorded. With that, I would like to turn the call over to Carolyn Bass, Investor Relations. Please go ahead.

Carolyn Bass

Good afternoon. first fiscal N's earnings Model to quarter XXXX of call. Welcome for Carolyn Bass, is Model investor This relations N. and Financial on Jason President Officer; Blessing, me Model Ederer, With the N's and call Chief Officer. today are John Chief Executive

quarter Our for of market our is forward-looking fiscal statements of commentary in the performance with and may subsequent and differ our disclaim or is call the any be offer as not release relied our results to earnings expectations financial primary are upon with any to posted risk and outlook. statements. factors purpose obligation as first call Actual recent December to information the XX-Q date. was SEC. and We update regarding These press most ending The views at XX, close on based forward-looking issued any made management's website. second may views representing today's on statements outlook materially. provide forward-looking today a include year you of quarter should filed current XXXX. The of refer Form and our our Please on as this

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

let be comparisons turn in stated, me results. And otherwise the that, made with all will unless Finally, over call Jason. fiscal our XXXX to to call this financial

Jason Blessing

Professional I our guidance Services first total revenue, call to quarter welcome revenue, Carolyn, am our subscription for EBITDA. adjusted today. you, Thank exceeded results and pleased revenue to and report that

We first business from of incremental million over point made metric cash transformation. versus QX the our the of model also health quarter year. the proof and $XX our business This flow we've generated progress overall demonstrates another on in last that operations in is

Our grew net SaaS dollar year-over-year, QX was by XX% SaaS ARR while retention XXX%.

with have metrics the we XXXX. we the SaaS on faced to last comparables quarters year, expect calls, to compared the As year to are tough first we said as in metrics. X start last improve exit we pleased SaaS and our That when growth record-setting our year's said, this few we

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excellence. Also reach that pricing to our to successful Global that Model with people Launch N Model Model provides Excellence to medicines to prominent that and in them Pharmaceuticals in user robust Global their the their improve Novartis to while when N us that while the Ngage on platform a product populations Apellis enforce forecast tool to overall Excellence key global users ROI investments customer N's to compliance Model focus experience a Ngage new is to Model deployed. In base, in more rare biopharmaceutical resulting launches usability. streamline system Model operational living transformative launches. of within this at support deployment we're and N recently operational users Additionally, in their strong This our Launch N N's these SaaS global also help also their while price specifically a customers ensure excellence. designed and establish accurate also selected see Sciences, products continue data, system led identify need patient supporting to customers operational volume empowers and module and most. Model new allow is helping also real-time looking Apellis fully of with help sequences will by implemented improvements, system several analytics instrumental and innovative procedures. existing Ngage optimization Bayer controls. customer guidance having in delivering with the combining therapies also support complex is ability a to of retinal develops user solid growth management. upcoming create operational by help will company be improving is efficiently Apellis N's to are QX, The helps to Ngage demonstrates navigate be for adoption where augment to new algorithms launch releasing. Life Novartis, companies model diseases. multiple product's challenges neurological we application

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transitions. Moving on to SaaS

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Services. Professional to Turning

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John Ederer

afternoon to call and the Jason, on good today. you, Thank everyone

revenue, basis. cash up with noted, fiscal our performance, the which $XX.X cash free adjusted for was year a I to flow ending start XXXX trailing our had we QX pleased Jason very expectations and EBITDA QX XX was on solid hit XXX% months particularly year-over-year and for million by free flow. a results exceeding As

for above at to driven Services Subscription revenue revenue first results range, by Professional increased guidance. X% our on the Subscription of million, $XX.X to $XX.X Services were Professional both X% revenue high by which guidance while the million, grew quarter. both to specifically $XX.X X% Looking end financial by and grew our upside and exceeded revenue. Total million,

earnings is results in mind full that will non-GAAP In in a keep numbers our discussing terms and release. reconciliation profitability, of our be provided please our we of

exchange. a XX.X% fully guidance $XX.X gross of for and a representing our $X.X was non-GAAP share in on some X.X%. the in XX.X And above on foreign of This range finally, a year. Adjusted $X.XX high of income gross total For the was gross representing QX, Subscription EBITDA profit of per outstanding QX guidance was the XX.X%, first slightly and was million, of earnings end last below was due was Non-GAAP with Professional margin shares non-GAAP million, our quarter. to margin XX.X% line Services million. quarter, items, below-the-line non-GAAP interest and based including margin margin diluted variance gross

SaaS metrics QX. for our to Turning

versus $XXX.X million million, ARR or last SaaS $XX QX increase an of reached year. XX% of was which Our

results expectations. In addition, SaaS right was in were net line retention XXX% trailing in QX. These XX-month with our

we this year call, difficult facing for As activity last the of metrics X discussed SaaS year. are over comparisons quarters transition we X last first the our due on SaaS to to

our fiscal to difficult is the comparison. quarter, QX be Next expected most

trend However, comparisons. to get XXXX back the at back we normal growth when up do of we year-over-year expect to fiscal more end

of terms ended In $XXX $X cash balance and September. in the which was million QX million sheet, equivalents, we with sequentially up from

sequential in QX, million for to both invoicing. due $XX million $XX and record for at increases receivable deferred had revenue of also accounts We quarter a QX at

million cash $XX flow strong last very from to a a flow This free million free trailing quarter. $XX standpoint. cash quarter was from XX-month increased QX mentioned, as Finally,

remaining to obligations. Turning performance

$XXX Our of of balance up our QX $XXX total was which sequentially The a to a X% X% current for was portion up RPO and million, on growth from XX% was basis. year-over-year million, RPO QX. representing up year-over-year

deals, As of our I years. of previously well which last legs total had RPO SaaS by in transition impacted many X over has few excess the been growth years long-term contract noted,

renewals total, return RPO other normalized a transition become bookings a bigger in the to level. of non-SaaS more contract are average and our seeing As proportion length we

we as offset through business maintenance for our on on call. total our I believe during of are we website ahead, the call, which still Looking on that term, fiscal business double-digit growth to earnings transitions financial in we model revenue. we revenue be our to return will we model more last subscription you completely growth midterm and can medium XXXX, the solid investor partially normalizes, refer SaaS Once and last we outlined on over declines in where the targets, SaaS would are period details in by our a said transition deck

outlook for fiscal adjusted In margin continued revenue and terms year. we Subscription XXXX, of guidance for which our improvement reflecting QX for earnings raising calls maintaining and our guidance total are per and versus for the our remainder revenue, in of performance our EBITDA share, last Subscription non-GAAP

the $XX million. the million revenue Specifically, to in million, revenue of range $XX total XXXX, Subscription to expect be of for $XXX.X revenue $XXX.X to range Professional we with be fiscal in $XXX.X million $XXX.X of to the Services million and in range million to

EPS of We based expect adjusted and EBITDA million $XX shares. of be $X.XX $XX per count to million approximately be share in to million between $X.XX on to the non-GAAP and XX.X range share a fully diluted

the million. to Services expect revenue million million, of $XX.X $XX.X revenue For fiscal we Professional range quarter the second the revenue of the million range be $XX.X Subscription with $XX $XX in total in to and $XX.X million of million of to to in XXXX, range

fully We of to approximately on XX.X are expect a EPS, And adjusted million million based to share be diluted in $X.XX EBITDA we range per shares. of for non-GAAP to the expecting range $X of $X.XX $XX a share million. count

and our payroll increased the is other second seasonality fiscal we see taxes period expenses reminder, when a benefits. to there for is our and business, As some quarter

watermark a year. To the execute a we is As result, start to quarter margin typically strong during for adjusted summarize, QX the second to the was fiscal EBITDA well. XXXX, continue and low

I'll growth, line business free driving We same to the final the are Operator? turn the flow. With for stages transformation, questions. while cash model of over margin top at through time strong and our operator still the any getting call improvement that,

Operator

question Company. [Operator Ryan with MacDonald Instructions] comes Needham from First &

Ryan MacDonald

the start. SaaS Great progress to the commentary continued the bookings to obviously, transition. about maybe and Jason, on hear

that the sort confidence spending how we into sort gives get once transitions, parts pipeline some support year And sort see of the end guess, later about the talk of the the environment in to You as trajectory? growth early in year, date, growth comps to sort of what having of progression, through. as returning double-digit with that the regards has conversation is to that in terms the some you're of and start remaining of in discussions pass in of environment remarks building passed now improvements can of and noted sort over we've difficult customers? this your the shifted you is I of in as SaaS confidence you

Jason Blessing

there, Difficulty] series Yes. questions that. unpack Good of Ryan. [Technical

So macro of first the environment. all, on

in were first and one softness our bit of think the a SaaS of cycles to some discretionary we I the Deal space, spend. in companies way year in our QX transitioned last little call fiscal out elongation of

like the we went into indicating we followed as feel we're As year come other think the this I see have stable things a a key has more on, particularly didn't demand the we of anymore. as metrics. the some [indiscernible] we invest up that we like that interest deteriorating better on environment, statements and with market And environment year, subsequently sense a rates commentary in -- better

[Technical that we pipeline that the I as see have say we about, like base. some Difficulty] into logos come our transition. And say would deteriorated, we're us new of to [indiscernible] call, or year, nice demand. on things year, a Difficulty] I great Difficulty]. to expecting XX% as our to year, a for of base a our as this really on XX, even on from year, when those it now And network and ] really drive we the terms I of this the when to in then when mean, converted we are you handful with literally to and last presenting look you in -- we see forward posted transition, as to as of that into backdrop full I fast new also pipeline good as while side. in reported of certainly December the back in last will more get a good team we as life process, for of the we sell and QX than essentially we're look reported now, contribution our move had So well passed And new we continue and the the [Technical are the I I'm starting then to I of regulatory not things call about mentioned full base continue And that said, last on that's on [Technical And part the have end into encouraged officially lot this [Technical [ at in of support have I we're been in base have of at few also customer logo well remaining received results, this And you're convert. our terms then a that has changes our Difficulty] the think if transitioning. were hey, forward, our -- has support customers last on-premise visibility talking though in we well, customers logos even customers, path by the corner world, And we'll customer a lapsed. our message the look customers the particular think one and in a as

Ryan MacDonald

Sciences expect pricing got -- sort might is customer and to side product. on that the any that arena. compare support you this you offering the the base and the of on Management launching you curious, a management Tech do see but there High regulatory maybe if relative rollout of you And you core impetus high-tech of the to forgive on semiconductor that that as segment me sort business? follow-up of as like adoption not within think curve, just the And how just Life Great knowing, lend on Sciences to I'm of the about side. the for Price had Life to

Jason Blessing

Good question. Yes.

couple build It's the the to front where in market oftentimes real-time cash partnered High this the sales customers Difficulty] the is of the So the changes. where of are market it the also dynamics [Technical not to discounting customer book of some address book some with and -- of price the particular reps address get see enable competitors really some yet we've store can policies, to on take Tech driven there. something competition out new product side time with time any be by that that internal and to the we line in price and a to and regulatory compliance

with is So was as a complement -- it customers. of product a is built and that a Deal to of conjunction product this Management our think couple in

So this the -- has by way, customers. and been other is something also that asked by for

the I June, Rainmaker product. We've think be a we'll the up standard received. before really to in and we're in in got coming We've think And particularly segments weeks sales very know. Customer this these and will going are our make I where Board excited between and for margins here I'm this force, be Advisory coming it's a [indiscernible] a up doing got that So it well demonstrate certain. few product, here we which where about with still difference, semiconductor

Operator

Baird. with Vruwink Joe from comes question Next

Joseph Vruwink

Jason, the I back wanted Bayer to go win. to

about mentioned thinking pipeline to the technology the with right wanting they're ready around comments, and pipeline. strategy business You in this the future

lot has past feedback think over the I year, opposite. pharma a of kind actually been vendors serving from the of the

is to going customers are know the pipeline they what We bring. don't from hearing

Model delaying has decisions. to start so tech that's seems mouth, your N new of might like pervasive? to kind an the at solutions that of been. your offense to process? if uptick what but what it more customers. become Is true, an of Not sort register offensive relative experience beginning And decision-making this to more Is maybe And words more they're actually put prevailing in

Jason Blessing

some for audio hear just told we Thanks Joe. question, issues. having you the me? I've been Can are

Joseph Vruwink

far so So good.

hear up I now. breaking but earlier, were you You

Jason Blessing

Yes. Wonderful. Okay.

of So defense, playing I one. offense think, and an interesting or drug pipeline customers question this is

just have that those do good been a some solution management they strategic with of the a certainly, think us, own. is a differentiate but confidential. manual leader. model But general anything those. robust had finally It's they business of reported the And of we're evaluations infrastructure quilted been much pharma one the transition they companies and and pipeline to in we're the on talking Bayer pipelines their them. turn industry certainly opportunity pipeline think going these and different I so have of in much front stuff, good leakage revenue happening with up Obviously, going together and and bit got in unique And customers parts hey, I a the certainly stuff. And Bayer they're management isn't of much partners on ROI may making one refocusing coming in of drugs partnered they've the I was you've acquisition. the following stuff, guess, if of launches, from as point of the them they business. This and business Bayer so where Some is growth other need so reinventing that, through of to here revenue have certainly about news, customer, the the and some to obviously business said, their they're let's about. your really Roundup some that and Monsanto how well industry, trade [indiscernible] company they're in kind SAP in of and that's there's terms some pharma been a SAP custom on neglected some

And beneficiary so we the were of of that. course,

footprint help of them help commercial set government a I to we get interesting additional think, there also, areas phase. other the this our live after them pricing. think with point I bought Bayer, pretty and important they would initial I where is core on And we on mention can basically

welcome we we iconic the modules potential the this Additional family in into N really U.S. and can help Model international plus to think We're brand. Bayer expansions. excited

Joseph Vruwink

up of for ARR up make one the towards outlook slower did you stands just John, therefore, CRPO Should so in read in of what growth still that XQ of half year-end. that, XQ? that of XX% and than pipeline kind we SaaS And then of XQ in SaaS for XQ everything is where a far and because back trending then supportive stronger comps the just the And than bookings the your terms year? is in faster second

John Ederer

a hear Yes. or connection problem -- audio okay me the Can [indiscernible] you with

Joseph Vruwink

quiet. a bit are You

John Ederer

right. Any better there? All

Joseph Vruwink

better. much Yes,

John Ederer

Okay.

So expect outlook bit The yes, We in the then in terms on year. comments have the are metric of of the I correct. for for comparison pressure QX when QX the year-over-year also year, that growth we did a believe in ARR and more SaaS in QX, up to at that little you we year-over-year last were an even number. be look XX% and difficult

we've the still terms have between then, but in business like now course a that to some line year. and sight out so comp pretty decent tough of and it's book path after of year metric see we We'll of we the to how second then the QX, And a over half a level. of feel metrics towards got is can going QX. But the a improving perform for year closing over the at higher

Operator

Next McNamara question, BTIG. William with

William McNamara

this addressable on and to you product? you're the there tool I price insight Is tech wanted the can of management market give question. up us about total follow for kind any seeing

Jason Blessing

Yes.

add-on found provide ]. us. our -- out So is what anywhere these we've TAM the we've rolling I mean, we've $X to XX% existing as paying a XX% they to [ uplift new customer customer opportunity of being been around what some products, billion high-tech based And talked from about on have

products, we in are we're to are way new our And also that add-on bring can So have fresh us a them, better these probably top customers they both out that things address on really products TAM. rolling give our issues meaningful impact that do and characterize a smaller mind. smaller to of

it build, past I calls, we patterns And functionality every and we're this of think, we as sure we're the in product new a I've that make handful no So is with said, to conjunction about in usage customers excited get this. actually correct. exception, and building

say the name customers, to those customers. actually but battle-tested is being rest to don't have be For rights this we product, some this assured able with

as I candidates be -- think as some that received as bring advisory it a of it it's going to well board months we customer with Rainmaker be few really for it. demonstrate great companies our would and in to share well our it

Operator

Adam Next with Hotchkiss Sachs. Goldman question,

Adam Hotchkiss

and sales how freed I'd past think the And over net next year? mostly the that's then now you're that impacts expansion, next do being revenue be capacity fiscal that transitions. and see Do here force how of curious you're expansion significant few you amount a SaaS up positioning at you the piece quarters all, activity? if customer success other for into

Jason Blessing

Yes. Thanks I'll take for the that. part of Adam. question, the first

and SaaS expanding motions the upsell. the we've we that's new other products selling motions for adding on talked moving sells upsell moving we footprint, the that -- X same products cross-sell, So or divisions been transition, into that And then into transitions -- sales new or about force add-on or geographies. cross-sell, or sales

we as in particularly one built the I that other at to think, And the said, them investments customers of to Because call, we that base customer kind the don't think SaaS force. really force the going I uniquely as see they've live had of base relationships really a resell. and now top that positions upsells, so team, haven't anticipated handle cloud, the in opens or load up balanced transition we full then questions the transitions, the these are need identify I in response of stable the for through sales large opportunities. And of customer sales SaaS was get and it to the to some

as the to disproportionately that. sure middle the of of at back -- or this if things had you make a our the years sales of talked get a of ago, didn't difficult resources in most go make way, we me have base let of it some aimed customer transition. We our put about is to the One SaaS were couple resources trade-offs result I that stuck

And team suffer investments SaaS new and that 'XX into in And were that building we balance end meaningful the as out bit our a side. start new the year logo knowing we 'XX. a quarter bring opportunity invest a the to to it's that logo to 'XX team new so nice posting sales on see that logo more capacity. still in with little there's of great But terms did in of went and start in we to more coming did a transitions,

John Ederer

Adam, just in is I'll numbers. this net John. on quickly chime retention And the

closely metric that Just going very retention reminder, rate SaaS growth ARR as is the to a numbers. track to net

see So you'll case. look historically, if you the that's

with out this midterm to the and growth the rate. number retention we I look we just on look we're comparisons the last talked on have year, have for the low of few in XX% If so growth a in we of tough range to call, I from growth retention logo going expect ARR XXX% range the about if at mid-teens, net scenario, so XXX% remainder kind normalize that net the would the activity. the years, SaaS do And like target it in call where that new coming to to XX% to you

Adam Hotchkiss

there? side, it's remind the little you there should we less Taiwan to given and business just the path the forward you're penetrated of see And the here, how a like good us just High then think Life about from Sciences momentum Tech on mix that Could Semi. with what compared looks long-term to

Jason Blessing

Yes.

last mix that. excited in of spun the customer materially piling Life Sciences. of revenue balance Tech the and doesn't the Tech Sciences of Life SaaS as We of QX, because second the exciting got is on some about add-on half. very Life the the top good is High and Sciences. the with great mix to today Tech I'm logos new couple optimistic say we about So that's we're over of to then years during performance business. up not guess market sales transitions business course, on That's we've team. and forward talk really not to to XX% disproportionately products, and High -- more in base We've seem But shift that got look relative time a just to COVID That the and segment my flywheel and this over And get did raising the it's rising did conservative about interest is see of rates. High

great set I up think So they're have to a year.

Operator

Craig question, Next Stanley. Hettenbach with Morgan

Craig Hettenbach

of year? from sense customers terms of that type over how back then And you of Jason, are these remaining? a just many transitions. of the Can cloud in to the through course the rough give through discussions customers do indications what hear importantly, they'll going visibility move you

Jason Blessing

Craig. Yes. question. for Thanks one, Good that

year. customers the very of last roughly of investors remaining on status each in a to large transitions so ones really And the year; handful at we SaaS So end remaining kind committed only the of of of of and have XX% beginning of down handful at a we're to updating that couple that there's implies there.

post And we've to so a and as I good partner going great response map the good sure enough great these these actively of -- through point move continuing we handful we move it we over working the I to to But one and into or in this remaining with just remainder they're said support is are customers we've past for convert. that make number really customers be them good when to questions, in that the to each got these are engaged of clarify ahead. feel end got one great December, that life of year. And small really customers to about the us in defense think in visibility can a of play reemphasize man-to-man a road a them, fiscal again have sense how accounts of and

Craig Hettenbach

thoughts commercializing then And in but I do stages with wanted some just new some product are on what about Rainmaker, early these touch kind know where to of tandem At developments back and as of you summer, terms I customers. last a And today? talked of it data in follow-up, analytics. products? stand your just things was

Jason Blessing

Yes. question, a Craig. great That's also

Global have And But XXXB Management, we're this products. category our your for year. And announced new are at slated interesting us things great master, today. fit also of we that got We've to that when those top customer an codeveloped question top are some being I access that Launch to Rainmaker, and release products, to being delivering are are them products XX products year syndicated -- by it's those last specific getting XX, products of we formulary that companies. well we pharma that like on going already attention summer start vigilance a in prospects way for customers and X to of think of both with and Excellence, last question in products lot examples see QX say Global sold. and us people today, Price analytics data from

to into So really matters I the statement customers. think problem we're insight these and getting really good what

we'll Formulary It's of they're access manually payers the millions dollars will is It's that a access. checked the pharma of just providers full is of coverage think being today. well. hundreds pay customer that with syndicated point copy isn't on as bigger that in they're the spot solves pain different formulary remarkable therapies, getting of big another the audited. ensuring we're solution programs that second an the really and access audit. And This and calling then actually patient for participate provide that of access some eligible companies gold the provide but purchasing of fees as that and the what this master to industry manufacturers,

life And we're quarters. last to forward guiding deliver those X looking great customers, So cycle track the X over and products thanks development the had group a us on our to it. X, we've to through

Operator

Question from Jefferies. Samad Samana with

Samad Samana

look kind an us of XQ Can the through be guidance, think historical guidance? quarter-over-quarter. we're implies If the of and something that uptick. more you flattish get there's just back first just if if remind a will on that I and Maybe the at us, you seasonality, Professional about remind could Services bit thinking I it seasonality revenue you just missing

John Ederer

and I'll a take John. it's question. one, is this No, Yes. that good

QX, little a from correct. in Typically, So seasonal this you an see bit in business. of a standpoint we uptick are

this a with However, of a little a get that projects small we're can't underway. handful having challenge we bit of quarter,

customers we're so ready. And aren't to ready quite but the go,

we've in delays so And few QX. a had

I that note in course it's the had basically record think that, of quarter so issues over some can a bookings business actually we timing QX. And fix of QX. that we would QX and

QX strong So a in issue very bit of we with a backlog, QX have but here. timing we just exited little

Samad Samana

then was bookings, different it just going to slightly And out, you ask maybe in mentioned zooming way. and I a

Tech quarter? Just Sciences as think year, and percentage shift first in that bookings, compare normally tilt High And does materially saw the seeing you do the I will see as Tech. you But of into given mix-wise? a strength revenue when increase that you pipeline the about change any what this mix thinking you revenue a yet? how conversion High just Or think we're shouldn't mix said know not versus the you're that Life if the between you'd

John Ederer

us seen the then don't commentary a to in And XX our there started we I say would say, this, QX, improve the months. and well started, will at market of a pipeline definitely XX matriculate bookings. as in we being including last see of quarter. new the we and it terms N Model build existing over expanding the a usage see that ago, shift mix we in X Yes. color see High you take bookings the When as relationship tectonic I look mix, through our with customers logo Tech to and end logos year encouraging expanding as and to see it's on I been their with have new revenue either an

Operator

Raymond Next question, Peterson James. with Brian

Johnathan McCary

This Brian. is for Johnathan McCary on

of question a midterm targets. some the have I on So

midterm teens So from think growth the I in expansion. that XX% Subscription low coming to you was XX% -- mentioned

your that longer kind that portfolio? a product you with Just that's do is reasonable organic term? investment require to or current kind think of going needed of curious, more inorganic is that goal -- to Or drive

John Ederer

John. on products rolling here those as into today. say a That truck well. years Yes. have I'll on largely and and But brink few in. This analytics, ultimately I on is we selling what the -- would that today. We're would it's additional in is factor data in chime what's based predominantly that the out numbers that of

Johnathan McCary

key of international to that's shift the that Would that what on gating the over in then to factors And expanding you mid-single expect time? still of kind some range. maybe digits opportunity, are internationally? And

Jason Blessing

interesting a Well, really question. so I this actually is guess

look operations. most them opened customers So and companies, today, global of if pharma we've their our at in U.S. you are they

Some are headquartered here.

Launch we by functionally to these are definition management. today, nearly customers Global quarter Management which then worked complement Some actually Excellence, say would us Management. And I that Price you complete large partnership and in price being of that products could X/X allowed on this EMEA great of operations has them of like are add of number with The to a have but to thing have global suppose Tender Global in all this pharma global I took companies. couple Apellis a Global do just is build

global and to North of for build functionally market. So companies them allowed are has American to servicing selling the European with -- this products complete that with us partner to motion out

to to into other I of region. have coverage think invest in one you We in some the move as tackle. have most start like is do to geographies, they things headcount companies, we always sales -- started

the with a lot in We the region U.S. do folks also try peg and of involve the because decisions purchasing global accounts team

about excited making time that and have the products I'm over is coverage the motions and sales really about sure in just So right we and region. got selling we've scaling the

Operator

Next question Pat Walravens JMP. with Citizens

Aaron Kimson

are the in the or This their we Pat. Of relative for your Kimson accounted your is on customers that September where of for to XX% other of of about sale cloud should think XX revenue Aaron XX% so How revenue? for XX. they that account customers about on the long transition

John Ederer

is John. This Yes.

about say in high top Ks a I would on those completed process have either to the the customers. you're referring Qs disclosures SaaS the or transitions. I in of So percentage think and

services. And which so is that would typically calculated total subscription and on number a revenue both number, include

are underway showing maybe a as up that companies so on that well. transition, And in SaaS

Operator

like would closing turn I to Jason to Blessing remarks. for over the you. Thank call

Jason Blessing

today. thank you, everyone, Operator, and for you, us joining Thank

quarter discussed profitable night. today's thanks for joining we our As once us on I of again appreciate and call, again a fiscal partners started all for strong us, customers delivered have out a and our good employees, with and wonderful supporting we and really XXXX today, growth.

Operator

today's This concludes teleconference.

disconnect lines. You your may

Model N (MODN) 6 Feb 242024 Q1 Earnings call transcript