TTGT - Earnings call transcript Q3 2024

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Operator

Good afternoon. Thank you for attending today's Tech Target Reports Third Quarter 2021 Conference Call and Webcast. My name is Tamia, and I will be your moderator for today's call. [Operator Instructions]

I would now like to pass the conference over to your host, Charlie Rennick, General Counsel.

proceed. may You

Charles Rennick

Chief and here Tamia, Mike everyone. speakers Noreck, The our Thank are good Greg us our Dan and today Executive Chairman; Officer. Strakosch, joining Chief you, Officer; afternoon, Financial our Cotoia, Executive

we Before remind like our release everyone to of to process. call would turning the over the earnings call Greg, on

section As on have advance Relations in call, we our our posted the in shareholder of of to on you provide furnished an order announced, and business previously with update letter our it an website X-K. the Investor on

can SEC website, find at You www.sec.gov. also of SEC's these materials the the free with charge

The corresponding on conference available the this webcast Investor Relations of our as as replay section will made a call be of well website.

team subject not Any our on from and answer management that are These available materially Following Q&A by during from forward-looking TechTarget uncertainties statements. forecast remarks, will statements which our not today risks be results Greg's questions. differ factual including may forward-looking based are Actual statements. of the performance. the to guarantees these are made to may forward-looking be considered statements, are and and assumptions future introductory

may reflect required obligation that undertakes as date to revise or after to call, a Factors reports and the events those uncertainties, risks any of TechTarget update statements this in the statements no speak call recent law. discussed These XX-K. Risk involve order and on of forward-looking in this of statements section by Forward-looking and most number our except XX-Q of arise including periodic Forms as only conference

shareholder reconciliation measures measures without the the in to not refer most comparable these our a non-GAAP available letter. also financial measures may to prepared we of accordance extent effort to A with GAAP. certain financial company of unreasonable GAAP to Finally, certain

turn I'll over call that, Greg. the to With

Greg Strakosch

Great. Charlie. Thank you,

downturn is the year-over-year for the behind second We report a clear it is that to quarter are We worst think the in growth encouraged revenue of modest row. us.

continue the We in revenue and to see to similar growth QX XXXX. into expect of part early

optimistic, certainty the better that be and investment to reasons a the the including several comes rate with have AI. be will around environment, technology interest a new there We cycle election behind expectation us, that

strong to This used will with downturn the be this deal to this leadership We combination Tech's we quarter. sheet during our invest balance strengthen digital expect the strength proposed our with close Informa to position. business, increased

now will call to I questions. the open

Operator

with Instructions] [Operator Patterson KeyBanc. question from Our first comes Justin

Justin Patterson

Great. Two if I can.

products adopting you've product love year. these of lot new product had could be pipeline hear into pipeline, the some of this innovation and I'd customers how to XXXX. a what are First, just for the

So that's the question. first

Greg, your trying back When And then of. I wanted closer all pace you on going now views the some know through to talked be look it's work an I content to that something about. at seeing just we're come to AI monetization to investment being signs you site, consumed, come There's here. in? any cycle secondly, point that page we're that to of

Michael Cotoia

Great.

Mike. Justin, this is

we're intent and and platform what the on account our aggressive of we product focused trying feeds, for very signals. module is build is one been of at the it's products, it's innovation but overall we're account subscription a which the engine, intent introduced which terms QX, of innovation, the terms very priority offering, only end of the pay bringing In And to product the that we've for market. in to a

go-to-market come are our prospect feeds account-specific strategies. we activation said through really us important you for account help view intent first-party that customers different to our level craving the focused individuals. At and automation us, and sales And intelligence know on if they marketing are because was to to us level, for have historically, for reach

customers. They for for For get level example, advertising sellers. we account prioritization creating programmatic on look look ABM insights, and lists, to insights first-party we at targeting based account at

provide that our the really we level account important it's intent So workflows. into at can our customers'

We AI Six revenue announced platform. of a that Senses partnership as with part

about helping get to they access platform, access customers Six have Target accounts intelligence the don't feeds. insight But vendors Sense in -- think insights. our So Tech to the don't to subscribe get unless account

action So help the a use have to around making platforms put seamlessly cases. insights account sure into and that insights our Sense that account we integrated really experience customers have our better Six intent help into those

Think marketing a launch areas. other real-time is that outreach. which did market of content clients we a [indiscernible] market lot sales was investments, and The our monitor, in dynamics, about different assist to

So we're accounts. looking the as industry in at those best-performing or on doesn't types of by competitive resonate resonates, reporting well solution, We're within influencing particular those a the personas what vertical, research types of as within accounts. accounts who's content, what or actively engaging insights, by

all you offer, take to have custom in them And the content is identifying by this products you the to help on strategy. enablement out go and best insights we the of influence if content customers invest across product we're performs we a the on, need what reach, and really fires, our and to from our so connecting that look to going dots strategy, this focused type it's providing content engage because and strategy, different on help that at can content

to market mentioned, put brand allow investment, of and as that cost demand investment, way for All converts. content assets the right intent the I in

there release, success not on well. and that we're ones seeing market as was a So

approach solutions tying customers that insights we and is TechTarget are as that We've the all been a priority all about doing The product demand. them. holistic other talking providing engine the how the throughout products our on was our providing this this about Think in announced really year.

solutions of is sites. tenant our first-party and Each permission-based by powered and

that revolutionizing to gen So customers strategy. now is we will offering the subscription-based want a where customized to demand this have make sure and And we're ops. again evolving our content access

provide be it but or call buying insights teams the will the active into within those into that and we'll buying prospect groups and When they lead we will accounts. we deliver to have insights able

together And group We'll their prospect brand that on level of buying efficacy best meal the investment that in early customers that their groups. launched holistic as strategy to it, and reach whole was we our our sure content are AI, intent real-time position and do focused efficiency our scale be to which is how tie part show scale levels how make customers find the to ultimately deal. in to how is to can provide leveraging so doing, analytics doing and all a their year with demands we the

close of new XXXX. company the ready launch really heading are and then These important into get as the investments we for

we've we aggressive that. we're stand So really on been and pretty that, happy where on

we're they of to as the and as spending we in investments lot that share. in AI terms existing see point growth their research And have of well customers a R&D with will what an cycle, A In of is terms of products development. around and products to lot come there'll enhancements generate new of launch. market money that AI investment is the a AI, those ROI is penetration point market the revenue R&D when the and

to It covers buying place and do market continues in deeply and on market. editorial to recovery see And investment, efforts bringing able R&D get stride. solutions are as is to actually And expect see that and identify that the we and an what marketing and -- you'll value the versus and the around the through our around better that clearly this being in buying the pretty organizations teams data, reports noise sales the that's the groups really the fuel growth insight, leverage their organization. technology we analyst

Operator

comes The Joshua question next with Reilly from Needham.

Joshua Reilly

off lot spending long kind has cycle past and year you of with material that starting will next the can this seeing cycles cycles. you relative give shareholder on seen improve of a a way trends the how I just to have kind line of guess running you I more your commentary letter? Maybe guess, been for that in business any developed have from in macro. in a this time guys are confidence

Michael Cotoia

good a That's question. Yes.

X-year week, I'll cycle. if at throughout suppressed we've take technology when we've So it's rebound. of John, seen but results if single saw X% say, expectations XXXX, X% matter growth a And that look a I'd in a digits, our in TechTarget up that year-over-year, QX then will look down where we're high relatively be flat not it's QX. our And say we'd been this you management, in we at you QX, a and

as we're to seeing of and -- we trends trends, first go very And QX we of QX into into similar half those XXXX. expect the consistent see still

actually first a look have other If at half. of double-digit that the lot you've of saw -- companies some taken reported in the decline the a

than better feel in the decline competition. You're we're seeing little our less second lot of navigating like a bit We half. of a a

at we've But talked the look is tunnel. end downtimes, see some at a of that about these in what light of the you'll the also I things in

example, X For contested. cuts. moving was that to That gone We interest to for always and or market. the presidential for what technology was we've election, know come future forward on the how a well we seen It going and that. we're going saw bodes it's didn't which rate go seems get like

were term. some we've the what believe that signs historically long we there market but in benefit, technology So the there out and will seen really

able X mid-single-digit see the of we say, to to consecutive though, like have growth to pattern say of short being to the I'd decline So now term, in seeing numbers. low and modest we'd growth, at open year-over-year quarters a growth consistent

what us long gives That's the what term. confidence in

close date on the Informatec. focus special now a to Our assets. digital is announced We this announced November We with meeting right XX. combination Informatec

and does it focus executing sure now. the at couple have really when in manner these come impacts We or when and on making look play the market and the timely on what capturing thereafter. we will a expect navigate really done focused integration all changes, then quarters into we're shortly through and to recover be our upside business, right that the these next of And the close that's

Joshua Reilly

by that. following it. count. bit, the Maybe SMB you In do more cohorts? know SMB major in customers Got on then larger particularly the of last a obviously, Silicon when will these quite they pulled a be In do think back next And driven your Valley pretty we growth super cycle enterprise just the customer customer contributor hit. back? the growth big this that a increase cycle, crisis That's will helpful. and that year, coming the next you up think was come Bank Or

Michael Cotoia

problem. Yes. No

going I the is growth have be deeper. and at strategic now the We large on an and level accounts. first and go with think ability increased to product of to set enterprise capability

to what get you our offer been we're launching, what and If map really ready on look road us at a for we XXXX. product take to that's for have own important

assets coming with intelligence TechTarget. and line TechTarget well industry the being at brands you about dive and markets arm look when into and at minimarkets to net engine. you But talked of about vertical advisory take get a able you And as the as the look Mondia you and combining the into and and IT talk

our good within verticals. well be on as there as accounts, focus really getting expand to opportunity enterprise strategic the existing and a accounts, the have those accounts and that We land on will in a into

the beneficial that companies cost and if should like breadth see capital it. smaller to those challenged of have us to that you of little of finance was able product say be it in smaller take they and was their with put managing good a offerings talked tech terms years be really -- that you challenged came I information our would but the continue the recent like opportunities don't bit, look ago. access depth I may even and really a really favorable, about that's them a still few job accounts. some to mean expenses at I some a challenge with out of for we are for it to Gartner's and and because more nailed the say,

#X the enterprise land expand strategic and say be the and where accounts. we're grow to would those I place on able and is But going to

Joshua Reilly

luck Good deal. it. closing Got the with

Operator

Craig-Hallum. with The Instructions] following comes from Kreyer [Operator Jason

Unknown Analyst

is This Jason. for on Cal Great.

us. so And do far? you the should planning how merger So feel gone go you Can premerger position eventually has first just through question from the discuss like how here? your

Michael Cotoia

Yes.

this organization, informata with together structure, board. on with new business across get how the the The with of Gary, for very the set do the up along operating model, been we well we success. leaders when since well, the to the case worked it beginning Cal, the it's business best understand operating in January I We've really So and say been year model set the announced the digital units, closely it XX. working would very, going working teams organizational we've

X and term well X organizations the planning We've the question to I way focused these day in term. the XXX. has opportunity got team that your short together and would premerger that. I in that well. I'd as long say on ground think lockstep didn't really day X understand We're plan the catch opportunity play say off this. on gone can And on a in the coming everybody second the the sees getting I day the planning. as

Unknown Analyst

I was it to had just just But competitive one. environment. question I think I that ask the that Second on the for wanted kind here, of that

your You leaning here, kind sheet about talked investments keeping progressing. on of balance the

cycle? competitors who had investments you may do pull have here down how during back -- So see those the differentiating to versus yourself really your

Michael Cotoia

downturn, have stay that lot public always ourselves touch how I of any the opportunity market be But a and put best companies. with in to also organization really to how of the understand we've competitors when upside in have built with in -- we are strong companies be but profile position we And strong optimistic. private like be because a we balance capture you the in take XX sheet. we've opportunistic and companies financial careful had downturn, years always an you a invest, Be some our invest a share comes. recovery during on

growth There when our a a operate that to are communities at the the permission-based marketing access ready way they're believe products without make advantage. lot first that's the share. have that their -- us well around we invest And not I and would recovery, and even entire. to of of most and most that revenue driving audiences a help as in me, the content for own sales as effective in investments and competitive put And part accurate when I organizations to our to around capabilities and sites audiences, call market and our

quarters, are investments understand X to balance a We those generate if at we X this X -- and us. years -- really but we Y can take to invest take we Z do because our important of on XX in sheet, of have for So this of it look will we view and a the we return. with terms

and of investments when We're years. an in we've the position in the that enviable areas. over we're that built we're effective think those we right on I model because XX So very make disciplined,

Unknown Analyst

Good to luck here closing the merger.

Operator

the you. Thank for you. today's waiting concludes time. currently Thank are you participation. call. Thank There no other at your conference in queue questions This this

disconnect now may You your lines.

TechTarget (TTGT) 12 Nov 242024 Q3 Earnings call transcript