ECOM - Earnings call transcript Q1 2021

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Operator

Good day and thank you for standing by. Welcome to the Q1 2021 ChannelAdvisor Earnings Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] I would now like to turn the conference over to your speaker today, Raiford Garrabrant, Director of Investor Relations. Sir, please go ahead.

Raiford Garrabrant

good and [Elam], you, morning. Thank conference Welcome of the quarter for to ChannelAdvisor’s XXXX. first call on are Officer; With Chief call the me today Beth ChannelAdvisor’s Financial ChannelAdvisor’s Cornetta, Executive David Segovia, Chief Rich Operating and Chief Officer. Officer; ChannelAdvisor’s Spitz, release a quarter as our we as on the for performance details press morning, our with This second well outlook issued first XXXX quarter XXXX. ir.channeladvisor.com. be accessed section website at Relations on of Investor can the release press This our

the conclusion In call after will being be and recorded replay the addition, a of this is call. available

During make business to today’s from or securities cause related disclaim are that date. These subject and of update statements our are today of statements may statements statements representative materially a views could summarized federal uncertainties considered issued of the views that release our These any differ subsequent These we expectations. forward-looking to We to that outlook. variety under and as we call, will risks be any to should press today. only risks as in be our considered results any laws. not actual reflect forward-looking of obligation

those our For other important affect sec.gov. which filings, risks the a website material please on recent SEC actual XX-Q our in and at results, as discussion refer could that further our other most factors of to Form contained well the as are available

measures, including adjustment. for related and which acquisition course call, interest XXXX, fair to EBITDA, During non-GAAP we adjusted today’s consideration value an of financial depreciation, refer contingent only the and tax amortization, will excludes compensation stock-based expense, income certain

adjusted flow our as EBITDA operating of We flows which measures less and development well margin as also EBITDA refer calculated adjusted related costs. cash software as revenue capitalized the is equipment purchases cash free which by divided to is

today free operating net issued flow. non-GAAP adjusted profit, margin, gross gross operating we reconciliations that income, cash non-GAAP income, operating to includes and expenses, GAAP for release margin, press Our EBITDA,

schedule reconciliation presentation GAAP Investor to of on provide the section also in non-GAAP Relations posted financial our We a supplemental website. our

comments may prepared presentation responses are we provide incremental offer Finally, business may metrics usual provide that of additional greater our or or insight our dynamics we detail questions, analyst turn or in results. to to this at our times that be into the continue With our that, in me to to Please the advised may the to over not future. quarterly let David. call

David Spitz

on innovations momentum area Thanks, best marks Raiford. quarter our and sales progress all XXXX. QX touch retention of and our and outlook. every of strong execution, we've few our fantastic to we to adjusted revenue business seen against the across continued business delivered product that quarter. virtually both us strong for bullish our of and e-commerce I'd accelerating With revenue expansion like broad since with significantly and keep another brands which growth exceeded strategy continued and guidance our customer volumes growth highlights expand very the profitability, EBITDA significant with a about revenue

elevated and for Based year-on-year accelerating volumes view Having total effects on at for GMV year to accelerating as subscription produced of we of expectation year-on-year. harder last revenue of in to will of top the continued the business remained GMV revenue our growth through be growth subscription of strength, we've quarter increasing year-on-year that growth we're We as of sales year-on-year, second the upper the our in the quarter growth in the an and the comparisons in variable accelerating revenue strong retention, trends teens growth second seen the quarter. revenue consecutive our First, GMV on revenue was XX% revenue important third continued underlying subscription GMV indicator strong and said rest strength very in first COVID-XX. April. as revenues strong March of XX% and variable execution the and to year-on-year and quarter XX% the

has entering e-commerce are And that robust remained there QX. despite indications a period year-on-year early so spending comps of in tougher

a the contributed significant a acceleration revenue represented QX. revenue the financial unit XX% from to of revenue. continue XX% QX long in focus our acceleration XX% larger in our XX% the brands enjoy customer growth performance base. increased our to of to We believe superior as our brands we In brands quarter and they Second, of Brands our our benefit from on term year-on-year achieved will that also year-on-year, the revenue. for subscription positively grow economics we with represent total proportion

increase and our highest sales in our in our in helping sequential by driven bookings history in strengthened the XXXX, created record represent part record Much first with of of momentum a revenue quarter, the expansion brands by logo levels to net by our this services team new of deferred in achieve the continued quarter. a Third, majority us bookings. in and activity was substantial which evidenced

enhancements of and yielded outstanding customer platform retention Additionally, recent team overall have services in the our our in efforts quarters. improvements

last of example, we dollar to nearly the typically years hales levels in For ago. churn compared just in of saw cut been quarters has the couple a couple

in our to to enhance continued to in in base, this heavily area. our deliver value invest plan product customer continue customers. brand to our we expect for see innovation, innovation our to grow ongoing invest Fourth, and we services, As and platform strength we've

they platform XX array example, of GMV continue supported the our middle to of this the we comprising expanding globally the And supportive customers channels because Zalando, matters aggregate XXX first in nearly breadth like this by to XXXX. quarter, consumers. , a broadening of Plus, Shopify offer of of number ways channels and expect to by year-on-year tail are Target over digit and our marketplaces and in aggressively reach well the marketplaces our long increase rates and triple others grow For

above bottom the and was operating revenue Year-on-year flow more and as even growth our quarter of increase line. XX% the than delivered in EBITDA percentage sales in across was invest expect QX. into our strength and I XX% to our product, all has for want continued those cash opportunities. and Lastly, financial investments aggressively virtually continue our of year up we initiatives in incremental opportunity to large seasonally services our even and growth and our that emphasize, lean this up revenue however, we business, adjusted as model invest see strong a to incremental first to intend we to

continued balance is customers serve our We to have accelerate sheet, cash as to that strong our plans. And they growth strength their seek on very had a and flows profitability. focus drive solid to leveraging digital

notable And Fitbit, Food, Viewsonic, QX see new Fissler of a Speaking John customers balance of authentic I'd and relationship recent existing we and expansions Shiseido, new and continue including like West added few customers customers, logos with like nice changes. highlight a to with partner customers. Doctors, to we group strategic brands we Tumbler, Gant expanded In AB. Tervis and organizational our finally, existing

of market Salesforce.com, her Officer welcome of to our board leadership CEO Executive a board Linda Linda Chief background, President well Products ChannelAdvisor. Helpshift at directors Linda two brings Demandware. to and of of pleased previously we're at experience the member Crawford to Optimizely, decades Vice to as over With Revenue First, CEO go as directors. and Cloud was at Sales of

leader provide our insight business respected to valuable a her we're excited the to ChannelAdvisor. and to Linda board in strategic as welcome credentials her software Given industry, will

of regions now sales us plans these his has responsible time we've role. of Second, roles we been to and Chief Paul customers and Revenue a Paul record in this sales XXXX significant results I Officer. resumes sales promotion since business on our think Asia Paul an Pacific, I'm thrilled posted is with as more anyone years in in responsibility cannot a deserving two consolidate of increasing the to for last congratulate expansion with is and and base this partners variety promotion many leadership our the Pacific, function. U.S. in in and Paul and right has of quarters. in With for Colucci leadership our under EMEA led improvement the With development sales including recent to Asia global global think operations

So congratulations, Paul.

previously X. to a to for excited for has has more the executed has partner Counsel, who are in experience will a we grateful transitioning Kathy as thank I role Diane industry. we've X. Allen, Lastly, welcome also as and Senior been deep who's field, you for Diana from Diana to remain a June operation. our like aplomb Senior to public future. We member mature also Twiddy has I'm in be the seven companies our will as contributions. June transitioned company several a Counsel the key and I'd last team foreseeable effective her with been years say a for XXXX also announced, executive Diane on General minted the also Kathy legal experience substantial General newly new General software successor Advisor advisor Counsel many trusted of and a the role her since to

So we're in confident of a next months. enjoy smooth number our legal function we'll over that transition the

welcome Kathy, Beth. forward over and turn with look to team So your contributions. it to to we the that, I'll And

Beth Segovia

XXXX. good for report stellar momentum so I'm across quarter was be morning, And we David. that you, build QX everyone. to Thank to pleased saw able us another positive continuing

quarter. customer best results years measured churn of dollars we performance things, maintained remained this a We in side and mentioned retention again the similar the expansion the that last seven and quarter On in was strong. level

sales improved and on. with about in understanding numerous is needs excited to to initiatives new Turning is goals. super drive of ways to retention This customers. job growth customers and their of the rooted testament helping to we're actions important ChannelAdvisor we the which a and a achieve level experience underway. existing commerce business is taken of team improve customer the drivers our Expansion with expansions our This account sustained improvement trajectory terrific managers collaborating more online our did a in are we've are leveraging client record with

we In strategic e-commerce customers launched level of helping effectively staying which now called on new quarter. realized onboard and our initiative we've enterprise service newest highlighted a objectives last addition to focused their

success this by global organization. stickier our ability opportunity making to Our customers large our engagement attracting services expand meaningful the increase investments across initiatives, are With we cultivate depth the their of and created have enhancing our brand business, needs serve to in relationships.

We've accelerated coverage managed we new are deeper are adding to team customers, roles And cross create manage customers new expansion us of more of go service to with channel solutions, continue customized launched for plans our in to this deploy strategy. level guidance we and and increasing enhanced We customers. and cohort account to plan completed in services our QX. provide enable first to staffing management to client new teams this

channel. support share and and priority customers clear achieve last capabilities of they'll them. we've significantly breadth brands to to me can us update innovation Many our digital Enabling now as their add we remains enable their quarter, an accelerate expand new channels as plan our our released. objectives of recently Let telling regarding our transformation are platform we fast e-commerce shared

midyear Best least Market and new a Germany, (NASDAQ:UK), As Canada, result, channels, clients. Amazon by were and off busy to in engineering start drive of and Back or fast intend adding ongoing this the and People Poland (CZ first integrations six product marketplaces at Universal (U.S.) expanded Zappos. a also XX We we global and across Czech Supply, many for got as Republic new of business to management, party onboarding new (NYSE:PL), and filling IE) well Zalando support to on XXXX. We speed dropship initiative as in new Checkout Tractor and Wayfair integration positions XX XX add NBC like QX enable including channels Ireland with [French] [indiscernible] connections services development, Buy

booking. and study available recent While on already encouraging are customer how this A early in the expanding that initiative the reach connections help on it's needle with drive for moved brands. our channel more case can demonstrates website is growth stages responses still our

In five for on priority, and Zalando requirements while customer clear multiple launch level the almost an with The at wanted growth their to and selling meeting detail offered across same concerns. difficult channels ChannelAdvisor [indiscernible] solution multiple plans For their doubling and marketplace on the quickly to of launching best to automation. the the live daily No but the presented After to result brand marketplace plan data fashion words reported required the of operations connecting marketplaces without aggressive three challenges of own marketplaces going as more additional in goal. accurately. than time us sales easing now XXXX marketplaces [indiscernible] Danish one the technical with became regions. Zalando also may overall a internal management. hub of was times performance the expand burdens more which

insight feature generating we and support In allows on by Seller networks is on QX, client launched enhance marketplaces. analytics premium and also development the party new third product monitoring Our channels brand on retail to for to performance brands across seller analytics, party focused optimize Analysis, a optimizing experience. success their that improving third

campaign rapidly these new help sellers we marketplaces. valuable of XXXX. to made we service enable managing first we and in our and customer more powerful on like platform You getting progress recall And detailed we nine XXXX necessity for Wal-Mart save update Connect. our for we generate it acquisition. to start compete performance. major accelerated initiatives on to in Retail for execution marketplace of are this acquired time tools financial we with Rich have and to be in by advertising to come. I'll as success. on now management our more level to-date summarize, capability things fast enterprise Walmart we automation pass resources your provide build a may are positioned same is performance on combined XXXX campaigns ChannelAdvisor pushing To new second the in Rich? expansion and with continue that reporting forward advertising and a the that Based BlueBoard to on initiatives the enhanced listing, continues months exciting their To visibility With July our a after in that to now offers the QX good believe launched

Rich Cornetta

exceeded the the growth about the to last net we call. results ahead, QX and start year QX, Thank saw outstanding a Coming XXXX. momentum And expectations back record you, even in strong those about with the into optimistic in morning everyone. results, felt business optimistic given on the the half performance, investments financial implementing quarter bookings Beth. we of earnings spoke we and And our good

And led and excellent accelerated and attention, with performance GMV revenue in especially in along revenue volumes variable sales, with strong customer following the acceleration QX strengthened remained subscription consecutive Continued growth. March. of brands third in to in quarter GMV QX, exceptional

As adjusted both both was cash revenue and in free quarter February variable for a we achieved in meaningfully exceeded ever in the revenue, provided result second of strength the EBITDA and guidance our subscription history. and total the flow highest the

year-over-year. the rate since dig So let's the of the quarter numbers. This year-over-year $XX.X represents in into first Total best reached Revenue growth XX% million XXXX.

also our million, in strengthen should an platform like year-on-year some ago earlier revenue quarter. was from during ongoing in outstanding organization representing customers year the spending. David late yea-over-year. the year of our have tremendous of compared was only QX, at subscription we record $X.X Valuable based In into spending the brands quarter. which continue representing another represents of the investments by strong typically specific innovation. with to fact, growth early success as This lower increase e-commerce David seasonally to and have in quarter, our revenue QX quarter retention experienced again performance sequential organization for And XXXX. driven GMV I'd see the e-commerce in broad we continued volumes Subscription we achieved made declines services revenue we the in mentioned, results benefits XX% $XX.X the rapid provided made April last to The revenue acceleration we've the sales than to growth XX% holiday totaled the indicating and strong a slightly first and falling highlights highlight expansion increase once reached period. million strong over an in QX GMV XXXX and of progress from as financial growth. continued customer the The strength

We year-over-year. revenue have increased from which seen XX% brands subscription

brand In total is XXX in subscription XX% year QX, the revenue represented our from period. prior points of addition, which subscription revenue up basis

increased Lastly, by net over remained customer customer average XX% per the customers. than previous XX have higher brands revenue months, retail we count has significantly brand and

brands financial this results our piece to continue a of to by greater total end provide believe and of coming line emphasize of strategic the of our are with shown XXXX our the goal XXXX. quarter progress, we XX% brands are sight passes, along that of business. significant to revenue And how more focus we every our the As support achieving becoming brands have of we making all than stated investments in from

plan performance. our a expect expenses profitability services our during as profitability XX% conferences of the product outlook. investments EBITDA savings, throughout in and incremental in well And increase show our our generating would on as to this $X.X as stronger in margin improved year-over-year QX. invest QX. of increased the we that operating of to expenses have as of on to began that we it's Adjusted not some as result important emerge from year, for organization, to remind to expect Moving quarter, XX% our moment. expense the in support pandemic. continue for a adjusted for to And More is EBITDA continue a made aggressively strategic everyone we steady we in sales to million growth we investment in in such travel an The

$XX.X Now during We the and cash turning increase with over-year. finishing million million cash of year- an at million equivalents sequentially $XX cash $XX.X generation to of balance and remarkable another had representing quarter QX sheet.

$X.X We highlighted deferred we bookings and at also $X.X million the increase sequentially saw driven the by a performance revenue net rate strong million up earlier. up highest ever, year-over-year,

achieve the product have sales period make we growth. profitable meaningful organization, organization, now our have managed even our As well to have investments as to with profile successfully in we our as services we strategic and an and begun shown for in extended continued expense investments

the in XXXX, keep least in see of Consistent to not end, global To services further sales, plan investment However, to product a our at line retention innovation, back investment commitments that business invest of upon our February, with our $XX growth. million cycle support the goal customer is in focusing in that support expand of XXXX such incremental revenue and of and in areas it on the advantageous we the aggressively of improves, further growth. opportunities as we we if to highlighted we quarter, message all in improving last platform our we top and number our investments. addition into with to most reinvest on as and supporting growth ongoing outlook XXXX, foot believe gas accelerating generated

outlook. our Now for financial

levels Our Therefore, forecast it real elevated, precision. with to financial remains variable overall QX. remained difficult have providing and are beyond revenue GMV a outlook GMV any not we

So note for $X.X I growth million a $XX.X the and EBITDA revenue over quarter. the for outlook our range an the important XXXX, is earlier prior range to in second we million. issuing year and teens and between subscription between upper reflects OpEx as outlook spoke quarter investments $XX.X as revenue $X.X million million that It the of $X least at of of incremental and million are of adjusted QX well of the

in digit April revenue modest variable April in a expect we growth we to double in the decline offset QX, difficult the surge the GMB comparison to GMV growth last in We this see due partially revenue compared by XXXX. to the did had strong subscription be although second to quarter

full we this we QX as continues. for for mid low to Additionally, we to double continued given potential the another revenue beyond. guidance, to and year are and full to last to execution expenses anticipate and But providing in In designed business, will our areas investments an promising In revenue likely see upside are year investments to estimate full QX performance digits growth financial increase growth, a remainder the strengthened that achieved XXXX such travel, from results maintain in are that adjusted full quarter support teens lower QX as and if outlook subscription in of increasing as year compared for has than considering we our be year across early EBITDA also performance well this fantastic XXXX. XXXX record continued while leading the momentum. year our not of represented with short, closing, for year expected the continued our all growth the considerably of net strong bookings designed

in plan flow. to to happy call forward, strategically on we in not growth and David remarks. will I product focus back to continue maintaining and margins Moving investing final our the people our cash still for pass revenue and while sustained some strong

David Spitz

us XXXX COVID growth Rich. terrific strong a the off believe going pandemic and by large pay Thanks strong has for business to brands, strategy to is enabled have of impacts our prospects start again opportunity employees new results one The we for close penetrated is transformation digital of in every like our for finally, and delivering and to the as the e ChannelAdvisor front lasting on for our quarter. ushered tailwinds And in and remain up us. off under of to once empowering the thanking a about execution around capitalize commerce our we of era exceptional continued has I'd of stepping forward. the to and excited world our challenge

me is time hear and demonstrated certainly often our this that is. You you've that say it

the with we'll So thank you. that up call to questions. open And operator,

Operator

Ryan the you from question from Instructions] Needham. MacDonald our Thank [Operator first And line sir. comes of

Your open. is line

Ryan MacDonald

congrats on the Rich year. and to Beth David, morning, a start great Good Thanks.

second We given but approaching look GMV. How you're thinking quarter? how about where love question hit outlook the you're you like a your you quarter about impressive first the realizing with also a even for about, to here those potentially Prime are acceleration just that for Day March flow for me Amazon that double appears thinking comps now talking potentially The that's you're trends could seeing in that the but that tough second it be obviously sort an the really start what really in the that of late setting Thanks. April. more GMV to maybe digits first around quarter

David Spitz

my so said did comments to strong volumes, in see at accelerate qualitative April, may it's end we digit see e-commerce and had and year, March back something in if look to as round last we then growth the Hey Last, I make April. know, we double remarks, add. Ryan, last to we of will started stimulus Yes, some year. Rich continue I you see I first towards of as last the GMV then have in

the would the And stronger half bit of I of growth of say little in it so April, then characterize growth. year-on-year slower I to of was the year. part if shape were last sort saw to the of back in some early check April was pre-stimulus compared And a sort because April, although still

me, So is that April, solid think the to I that's were pretty indicator. The towards of we still positive year-over-year seeing, end fact bullish. growth, a

our Now, of believe in it year I pre QX. growth last was month, May actually our last terms strongest year strongest, the of was

And but and so to of GMV May, that there we strength There's terms see mean, economy just consumer strength of continued is I a in uncertainty expect will say, that, around frankly that various right, through all solid. the continue of stimulus hard think remain I programs. and moving whether is this pieces I lot

I think strong. it's how just a question of

to I guidance. Rich, you relates if don't the have that So to to add anything know,

Rich Cornetta

Sure.

converts revenue, to depend of a customer couple really to the Ryan thing the rate does mentioned the variable it that way we how So XX% it of range. obviously, given was as of XX% quarters the will But only in I'll last the that variability ranged year be up quarter mix. followed year-over-year. comp, revenue in QX how a focused GMV, the And mention, last on you tough on at on fact the calls

you million that increase represent would generate roughly nearly you year. that $XX numbers, midpoint doesn't up in the QX correlate would quarter passes if variable would, if QX, a million and about or you outlook revenue high if out last subscription performance. the the you million every about absolutely would million you revenue $XX over around So you, to represent dollar over teens at revenue put to of that look there, XX%, close $X And GMV a ran we that our variable But range. still

again, lot So is here sparked see revenue, really X% the QX of XX% excitement across on continue growth QX which in focused company. we where to the from a in subscription we're jump growth to at and

David Spitz

to I'll that to us. continues to marketplaces thing add importance increasing of that one Ryan, be is And tail long of

digit in So aggregate quarters, at QX grew previous as said, as eclipse channels and I other rates, has started triple again, larger in and mentioned or GMV. to I

we continued we're a strength extent to that adding XX see supported to next to course, on the number And long tail tailwind marketplaces of that nice is XX us. for over So significantly the months. the of

So for a is a really of source story that's us and GMV diversified nice string. I interesting think

Ryan MacDonald

the question of this but versus focused terms between Or on and you that get innovation more the where XX then helpful. in And incremental help ads? Clearly, sales for spend? capacity That's increasing Thanks. great. nicely you you management the investment some around you've whether sort investments billing really understand value on year. maybe R&D can of going started really account of That's have be extra think can investments incremental second months to is of it's coverage my over me sort to strong the return on to expanding bear is remainder the planned the XX made past really fruit the with

David Spitz

with sign multiple a question. base, post to would of continue customers. And customer capacity great course, on sales Yes. capacity. strategic, innovate And all deliver is are accelerate and then continue help It's the for We continue the areas to XXXX. customers and of There R&D and those prepare brands in increase services we we side. need I global by say to investments to our areas of but we lot plans definitely of need on different can as those to because our they they just a we is help we least, grow side the the increasing organization not of for to continue sales that worlds answer There's opportunity think that and us large for value our would above. last services expect the

invest to areas and got. all say would So those the of it's I maintain we an momentum where opportunities see have really we

Ryan MacDonald

great Excellent. Congrats quarter. on again a

David Spitz

Thank you, Ryan.

Operator

next of Zach question line comes Riley. B. from from Cummins Our the

open. Your line is

Zach Cummins

seeing to just we're QX, year growth I good a the to and year. morning. David, Rich, of Hi, but year, Yes. half. implies nice going into wanted the you start and a deceleration for congrats Beth, I given mean, gave ask full bit it outlook, of that you on sustained a Rich in the speak full subscription strong teens guidance growth the a that high just with to second little kind around

some of the the to second see in here going I'm first we're the slowdown to So half. a maybe to a that just growth would there speak of hoping able bit could see dynamics you the that the of year versus half be little kind in of

Rich Cornetta

It’s great sure. a Sure, question.

early and in over all mind to bit in of our and XXXX, subscription that and X% in made given saw fact year QX difficult keep little that year get in QX. to X% really growth late then QX in we in the and we QX XXXX revenue started more flat investments of -- comps just So a our revenue. subscription a We were contribute QX we that

comp bit little QX. a a QX have we challenge and So in of

we they to we But full path continue is like present. there for now upside calling there, along the long as growth. potential for subscription the mention these did that mid continue initially we right -- potential have, perform, for for successful if as started we're we as And teens upside. certainly However, investments revenue year there's to

Zach Cummins

Understood, and a out of really of this on as of level mean, seems maybe side, progress some can initiatives you've focused customers? the your larger to of support you're enterprise success cohort I on made of focusing more areas with teams. the and to the some strong you you where expand be speak some going team Beth to it like services early that and

Beth Segovia

launching you efforts execution questions, our of quarter Thank and all Absolutely. then place in Sure. communications the We've to the Zack. service for we late team the our pieces defined focused roles first job of customers. March, and in putting new in place getting began all the of level and and on

for their conversations incremental been be with resources also with are to and Customers customers them been concept and had the So of customers has look optimize that ChannelAdvisor response them efficient. make wonderful. additional introduce on to will proactively just integrations those the capitalize that example. It's the ways now excited for direct have with from to new solution our supporting architect integrations very one is about And look them getting structure really working the to with a collaborative. and we ways more share to

collaborating directly QX. customers will and as to deploy on we we we're as through we deployment as with you mentioned, that concept even iterate execute finish So

the in of So onboard of to our next plan year this is for plan couple the months. set customers

have we large how we continue as thoughts continue the So around can scale to to we additional organization brands. win additional

prouder we're So I to capability, out be couldn't execution, additional scale half really planning start our the but this year strong to for investment of team. for continue our to second the and

Zach Cummins

strength? the curious point insight And brands. capabilities? by David his if on of driven growth Understood. that final question with particular any seeing new marketplaces just Is is around to lot to the be expansion you just hear Just you're curious you for that. strength focused I'm can into adding for your the different a that area being there's one

David Spitz

now Yes them. Zack, consumers certainly I one is is years number of think last was of of to down a accelerate change catalyst changing here that as year path just just and function behavior consumer the reach shut towards a digital. those a to fundamental significant marketplaces course, really they digital as seen retail way transforming will and made step that for plans theme the the brands it's traditional consumer. have And The

a really we're So strength areas. of number seeing in

that media last marketplace like consumers Amazon advertising year, are are media on I or where areas digital social shoppable platform, we own where in things brand journey with would brands marketing, acquired digital and all a a even say obviously depends Those helping and like journey. things where they analytics, Instagram. Our reaching expansion their transformation little on bit like us with starts which their brand

in more or stage. relevant that or cycle So less more mid there are journey They're different early capabilities or it. depending even late that are on

So it's broad. say pretty I'd

Zach Cummins

in Great, the and of well best my thanks taking coming for quarters. luck questions

David Spitz

Zack. you, Thank

Operator

line comes the [indiscernible] Our your next Jonathan question lines from of open.

Unidentified Analyst

everyone. any maybe or kind seeing levels if you're Hi, And from I am what seeing with good your you of speak normal Nice you're elevated all. retailers? levels. churn morning, wondering churn to

David Spitz

services And has them. by in retail better business And of for also pandemic. the a on fact and of the was to serve on of year, Yes. churn example side the think Hey on course some store, their digital David. impacted quarters. that's some the and investments product of that improved relied retailers this the increasingly e-commerce combination The is at other I last last Jonathan, few we've over the the made side

more short as they're success seeing online in well. with So

well. And side the so as seen improvements we've on retail

Unidentified Analyst

And last Walmart. company's like towards so reason like, see the this? it there one improving for Walmart quick a targeting from Walmart thank you product upgrades Great, much. this? one your And me. results there clear for was Was from for support you more for focus a From just do week, seemed stronger

David Spitz

ours their has they since show partner at marketplace XXXX. Walmart strategic our a Well, been launched of in

ChannelAdvisor time. important them So We and for a part have deepest of capable on and for we've market. best we consider our and integrations the the want long channel with really-really worked philosophy the them most to is customers a

that Walmart as through add So going capabilities to the continued the wait our to to improve are and make platform, not mature those and we're capabilities. to expressed sure platform has

that partner improvements and we So up it's changes us. really channel just making with is strategic a Walmart for keep that sure the like

Unidentified Analyst

call for and Great, quarter. this thank Thanks luck much. so good my you taking

David Spitz

Thank you.

Operator

time. at questions further this no are continue. There please Instructions] [Operator Speakers

Raiford Garrabrant

soon. forward Great. again Thank us look for today you, and speaking joining with we to you everyone

Operator

conclude and for that does gentlemen, all our today. you Ladies for conference joining. Thank

now may You disconnect.

ChannelAdvisor (ECOM) 9 May 212021 Q1 Earnings call transcript