SYZLF - Earnings call transcript Q4 2021

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Operator

Thank you for standing by. This is the conference operator. Welcome to the Sylogist Ltd. Q4 and Fiscal Year 2021 Earnings Conference Call. [Operator Instructions] I would now like to turn the conference over to Bill Wood, President and CEO. ahead. go Please

Bill Wood

to XXXX. welcome call QX for Hello, Bill our Wood, fiscal I'm CEO. Sylogist and and earnings President and

call performance remind fiscal September provide for our is you, today quarter and Officer. our we with for and our the walk XX. the also year will our Financial moment, In on fiscal Xavier through year you outlook ends full Chief a On Shorter, me XXXX. To

except contain note we to law, company. have relating three those forward-looking verticals, company primarily Any or in such into forward-looking large them. from subject we materially statements may I and revise this that Before events solutions NGOs, and Any sector the and and are may software-as-a-service uncertainties assumptions And are statements required no should provides we the as of made that contemplate or operations get which obligation just future to is here. public to risks, today. differ as a outcomes Sylogist critical actual SaaS call nonprofit mission it, by education, government. profitability of of

Our based XXXXX customers platform by established is worldwide. used cloud and over well

opportunities deliberately as or past have the we of market pandemic. digital footprints to their they're expand our been year, advantage take growth said For to add in segments, preparing improve, exiting the

growth company that's SaaS leading focused oriented hyper public are profitable, being our sector on We verticals. the focused on

that M&A and minimal growth Sylogist that three know team, pleased from organic different September, now joined in off. completely calendar on put growth. see a place a almost that years as the all year back months new finishing let the In and starting when management XXXX accelerate of I is in inorganically. year changed both we're our with ended year to company. focused I ago, That or foundation and we've fiscal report emphasis in strategy a our past, Sylogist wanted ago, with organically strengthened paid Given I'm mandate to investors a to on you profitability, was November to in Board a

organic Our strategy pillars. three growth has

the capacity. scaling first The of is creation

have R&D, overall. drive and by and products, customer to our teams XX% innovation, We position responsiveness in investments customer competitive increased our facing

also divisional a silos We breakdown to unified reorganized team. build single and

an over are onboard our out LTV. platform now only a opportunities, product can share as we of of products. Secondly, they their time versus creates committed cloud with strategy that's leading approach strategy This with differentiated to platform requirements they industry functionality platform and into sale, meets tightly the involves cost lower need the more customers needs. underpinning the evolve, offerings. no and grow to longer integrating solutions wallet activate of allows increased into their or cloud incompetent This This increased versus offering assurance

stickiness, and platform provide strategy features Our unique of core some use such already complementary intelligent expand This our technology offer new payments. well business, functionality, to expanded high time had increase wallet and as new such offerings as innovations as to win analytics, desirable we've ability share. for customer enhances as

capabilities. management Third, our and account go-to-market we scaled

few I sales business marketing and joined only Before delivering but margins, several key impressive areas the Sylogist of it modestly invested in over was earnings last in the years.

Over ourselves the months, last XX readied growth. materially activate to we've

dedicated to are SaaS and key is includes customer wallet minimizing and company model. that healthy growing any aligning value account creation engagement, to outreach proactive SaaS churn customer experienced in For managers that maximizing a share

successes, brought area director leadership customer our to channel and our enhance new also presence thought addition Most activity. curate cost launched in online lead sides, in direct network. and was expand deliver We've and our and to of team, in experienced drive awareness, and our we On to reseller have on we to the reach leaned important our strategy. indirect and that partner expanding funnel mid sales low channel highlight reinvigorating partnerships focus leadership brand strategic

carrying we I overall. we the across account in executives are acceleration XXXX. individual coached, As in added performance for and team quarter setting XXX% growth had on more to-date, their total, stage rewarded we've early on investments the their To fiscal system create the are performance experienced place increased mentioned, alignment, verticals, that and company-wide have way of -- go-to-market in January. measured, have In over have financially whereby management based a year business put and members

power with talented shared our creation. aligning As source I results and goals and a said before, and said workforce differentiator commitment motivated and drives as key is to this workforce -- I've our value

that of leading selective for to each acquired award the and subscriptions added For contracted like expanding, we of CRM, XX to are These organic verticals. measuring quarters In revenue, and the in organic marquee saying calendar our of starting Rule and we of reward include on been are recent that deals I by as release, companies and as strategic now investments. reemphasize the across material our a couple XXXX. nonprofit, matriculate $X I'd a a of to and a guided at company Sylogist has large highly growth shoots intends green $XXX,XXX well implementation pipeline Those X.X in Mission that's of the new state health highlighted services. I've we October, level. industry to growth in EBITDA the with end with awards leading SaaS materialized. sum three award to expected global wins, a being press a side see year profitability over be toward valued recent few rule-of-thumb margins. have wins representative including These both million related maintain million a unclogging a industry

alone, have we now are more the striving profitability exceeded of have into EBITDA years many for factor on blend Rule growth While the to XX we materially.

aggressive modern a in strategy accounting our Mission SaaS accretion and donor XXXX, solution, in M&A historical and and We immediate pre-acquisition playbook businesses roughly and share executing services that CRM expertise a strategic to expands in remarkable a applied of functionality at overall and together nongovernmental companies SaaS its top in all an our completing market, success fundraising XX%. in talented facility strengthen the market practice, education these share non-dilutive innovative solution expanded to Sylogist customer in capacity, real three a provided had acquisitions. XX% talent, Pavliks expanded rate readiness gives it of target M&A market to systems, managed the maintain further us resources new Municipal credit and complimentary growth. and highly our our technology growing, to Microsoft also fast We and investing resources expanded XX and line wallet industry acquisitions. Sylogist three strong million market. Dynamics organization XXX to To engagement and web leading nonprofit This scale bringing behind a bottom portal sector. cadence us an an the our financial addressable brought team in growing team, share accelerate integration systems brought March.

a expect like. Finally, I'd you of to XXXX fiscal like to give what we look sense

customer to increased our as density in needed $XX now workforce sector go-to-market organic a XX to like year, financials single our the for and revenue been same a rates innovation, on Xavier mentioned, being pool. focus ended we to approximate growth take one or large accelerate strong more Along high of with a talent revenue revenue of offerings over aggressive we and invest this an In turn the or us augment expect year million XX, profitability had fiscal an with recently Rule of growth the better intend this relationships, fiscal strategic the We and to our detail. to and roughly we acquired. have customer maintain M&A we public year non-acquired VP September at growth to million to highly This coming will in objective Sylogist. revenue base XXXX Shorter, overall -- year revenue on achieve sticky our to our strategy has digits I that things leading growth in posture. expect growth, $XX achieve SaaS and oriented, year, on a of continuation in aimed CFO with profitable I'd platform transformative from Finance company the As through cadence we the strategically goal products market.

Xavier Shorter

$XX.X Thanks headwinds. face the Bill. Revenue in fiscal $XX.X the from Notably, for XXXX. in million currency year recurring the for revenue up COVID million year and even was X% of rose material

rates As headwinds. year-over-year had been faced material If have the revenue exchange the been X% same quarter quarter, higher. would for with last we currency

our to for Operating in in which profit XX%, margin quarter QX contribution expenses we of the in This the back Our XX% XXXX. compared XXXX. to growth. March was up municipal were accounting due systems reflects acquired gross investments

year customer with COVID on related we capability expanded currency make gross XX% rose Fiscal functions As these were our building profit to $X.X fiscal due in Adjusted marketing from primarily XXXX Bill strategic for the large now in investments, highlighted, headwinds, slightly largely are investments and Sylogist and delaying of XXXX, and to margins emphasis $XX.X been Adjusted quarter, due strategic in million EBITDA to from QX million fiscal mass. million contribution million the $X.X has the was XXXX some professional to projects. EBITDA service was up from the down mainly $XX.X facing scaling uncertainty headcount. down continuing XX%, in with XXXX an making. due sales,

QX was from X%, material a for from year. $X.X us X% X% been were 'XX. per for would they Earnings year. As and XXXX, in million the been QX the down have rather I million net exchange XXXX. in EBITDA if had -- headwind QX as was share $X.XX higher they in in mentioned, last were rates $X.XX And same higher income $X.X down

an in at with quarterly per accelerating distributed share. profitability. dividends we holding in are strategic $X.XXX to $X mentioned, dividends growth steady making term As million Sylogist shareholders to long investments QX eye and with

we to Even is pursue QX through CRM Our material our call $XX.X approximately million Mission with have with some would balance to in thoughts. the cash. on million inorganic and facility with $XX We With acquisition, bill credit off recent further healthy balance cash and sheet sheet, $XX Pavliks balance the million M&A. strong. a remaining final I that, growth to like hand finished

Bill Wood

of three Thank materially was growth accelerating an like completely In to acquisitions. for we the different a that XXXX profitable we by set once made year. Sylogist you, last markets, face Xavier. time that from company emphasizing were completed impacted this changes unprecedented sustainable, strategic the at in and foundational is conclude highly our pandemic I'd again stage where to

solutions now We And upgrade are platform in and to and the advanced SaaS motivation available the serve. buyer budgets we customers prospects for the markets now. most complete have

gives material us solution. of upgrade to customer off. revenue, to with New community efforts customer motivated that SaaS premises our pipelines wellness strategic confidence strong and our talented team on paying high contracted wins are appetite our expanding within and investments Overall

are on excited XXXX look in forward interest the your creation. up to Thank like execute continue value floor open now our We strategy for Sylogist. to and you I accelerate fiscal to as questions. we you and

Operator

now Partners. Please We Echelon begin session. will Amr from go ahead. The [Operator comes with the Instructions] first Ezzat question-and-answer question

Amr Ezzat

Thanks on can the just implementation quarter. there? for on it give new be taking my in is questions color on and bookings business question might My fronts first and or how early you new strong it impacting the your Any getting congrats general. variant us a be

Bill Wood

Thanks, Amr. Not materially.

the relative our and regain we to practices terms as to highlighted activity. well forward of determined activity have ever moving of bookings new realities as of see to in posture accommodate COVID my comments as most places. think in customers to than activities a But I and more adopted the policies starting the of I relative pressure

right it way, gauging alert of we're should always some material stay So as this we to not to now, effect that. at expand in have that time. a But

Amr Ezzat

biggest Okay, the the surprise to number. that's me quarter hear. good The MAS to was in

quarter. part of million. had if But $X.X And a adjust wasn't jump revenues up of it deferred even the to good that recognized MAS a nice is So last for last quarter-on-quarter XX% quarter. you from balance understand that bump it's I that

color guys in So CLE stronger is it's slow QX. know Any for typically you them? there? fiscal a can you for give us it quarter I like

Xavier Shorter

This - Xavier. thanks, Amr. is Yes, so

and mentioned were at rule the we -- in value. base come before standpoint revenue Recently, contracted you looking that a start As participants’ IFRS we out business on that XX, set chains haircut. we should the actual deferred should were guidance on saying looking combinations market taking at has

July a XX the taken there resulted prior around through that contracts of and run albeit June in haircut USD had QX. So recognized we out it's run Also was represented paper. $XXX,XXX of end us, in QX we our quarter the in billings on that year that that had the our

Amr Ezzat

looking I I'm compare apples-to-apples. Okay, to just just the

million deferred on I add you IFRS $XXX,XXX $X.X the quarter then revenue cuts. last So reported guys

should X.X, this right? the like X.XX be apples-to-apples and So quarter that's like

Xavier Shorter

which X.X, was?

Amr Ezzat

there? Yes, that's big there like jump. Is anything still driving that a

Xavier Shorter

subscription there - billed the forms a to also in schools addition professional some Well, for as some on for training. well fees, as is the recurring services we

the for account would that variance slight too. So there

Amr Ezzat

how Okay, significant to are from Pavliks then efforts can systems you and the letting how the integrating speak is just it implementation understand going when far, what Mission is guess accounting are Or like, us I help integration guys and of so independence? your is the like them end? the

Xavier Shorter

The integration…

Bill Wood

to speak Amr… will that I

Xavier Shorter

Bill. Okay,

Bill Wood

post-close we're we didn't you're really into they committed obviously, extraordinarily idea boldly when have up Yes, think We I discussions. gives during feather sometimes looking I early was highlight look activities beyond of it maybe you a the far. itself. sense and is will to until are that that well themselves accounting now the gone go that the system the us of good for diligence just say discussions, and get - going the those acquisitions activities at diligence getting, to we what well so I

relative for spoke Our to companywide, very now on since implemented I to is I wide. MAS that was calls joined previously organization playbook much integrations a

early of complementary go-to-market, talked recognize included of So and as which we very talented wins This both IP. we're teams of long-term facets, very how can about well processes positioning we looked people we those at synergies. that talking about all brands, much those strategy as that

and in feel So good fold only demonstrated as about we too. would bringing with very into the where that the around less months, see than short MAS, completely we four improved cadence integrated not really them pretty out them I a company a window getting

ups in well CRM we're time. ante change because that for about overall, with the along and month the now both same Pavliks. we're playbook doing Mission and just it So at us a And two

tissue muscle So we it about think current. demonstrates really the the also as our but future, is building execute

Amr Ezzat

with areas M&A, believe helpful. Okay. mentioned get or was your is it? do connector, services we of about fit like segments. like very that's to with that and see the large Thanks, Then and you came of services a growth managed more thinking focus just Pavliks portal a like I you in Can I'm when the better higher really Pavliks, than IT which as rest future

Bill Wood

in it three are current larger DXXX all number We as that think kind the our as their as facets down grants of itself that connector sets XXXX information I for in medical practice We of can with that have means bolsters It's a to fulsome side, and they because to to execute idea are two forth. and our that the positioned We're services hydration how maybe subscriptions for when to the cities, to to at like to able adoption. customers was so exciting that licensing, facing consulting customer portal on the to real school SaaS is The their our them next for for In in towns, I've a a workforces advantage post services relative the SaaS technology in strategic ultimately underestimate with of variables budget projects interacting in-house will of maybe We posture business. some. parents need think relative that us is expired an and and that of for expertise sometimes posture. safe complement SaaS well that relative the opportunity. to what way mentioned a managed obviously relative through materials for Microsoft valuable keep technology maybe we us say how that very sort up so for, And optimized you community to but see of relative how TPC, citizens their as footprint a -- will clouding for need synergies pull so of for a well children, be people the previously, what strategic the require, let's piece, to North synergistic advice look America. planning in that they delivery think terms states sites maybe flowing up setting on. house I posture, customer customer also improvement on good entire create and steps systems of our in to security pipeline post terms their a terms beyond. to data

a services more So accelerate. service we managed feel of as increase about we being very our good footprint SaaS valued and

Amr Ezzat

the very that's line. pass I'll Understood, helpful.

Operator

Gavin with go The next comes Fairweather Cormark Securities. from Please ahead. question

Gavin Fairweather

infrastructure, thought afternoon. communities. maybe IT it how about the better there bit think -- for customer Can in can maybe what available your that Bill. it's infrastructure? Good about morning. or Are immediately I little would impacts specific not a IT talk us on terms grants just understand of started that projects, Good help you as systems it's you

Bill Wood

Good Thanks want it's I really it's lifetime. dollars in in But wave U.S., of federal in to that are deploy about leaders to citizens, that say support few leaders is state best the training a cities morning, through get most covenants, don't the hurting It it process, to their something a of for once the funding make back and Gavin. go to that. capital material. all in states has terms people determinations to those those. put work, is to how of people support who local and down

relative services. technology a we those customers where strong case facing to internal support would need our tentacles outward have to and have to say into want We better

to them in to So measure time, to be that for to up entities, internal wise to back a improvements, funding the much another have skinned pretty the over it the their own puts put dollars may progress reason one able impacts toward position capital and strong been you. consider deploy infrastructure budgets and very or

So business we impact that several bullish very feel will on on our how fronts.

Gavin Fairweather

hear. green kind you're seeing just to we're opportunities, on of helpful? the terms or be in But That's could great some opportunities the you of cross that kind of of seeing quite curious color of of that number front showing shoots nice logos, I guess up will trends and to that size what kind kind the do the provide sell pipe. the overall any of pipe, in

Bill Wood

part where calls in magnitude in And they they speak We're seeing versus seeing to I manage I the postponed realizing activities, I'm the if of have can relative just to we're really said organization just I'll not now is strategy an almost mentioned realities idea prior to the a And that and weren't of seeing cancelled stalled. on organizations in dollars. manage through pressure position where forward. a mentioned changes been their discrete of comments it's a profile unclogging. my activity that SaaS or themselves gotten they've crucial were I that the and I but realities think and of going almost a but have, their as they COVID, workforce, nice of

affecting are to be. us in customers and as said latest stick relationship, carrot got ultimately where a feel spades about it on COVID in and existing of we terms idea relative versus they anxious, pressure internal legacy see SaaS is is a how feel them now I our that good I've a offering the seeing to advantageous. see our of we've partner, the who Well, COVID So hardest the well put and our of during times about want serve clear ROI systems, very is customers always helping customers upgrading that

us as flywheel that go of creates material effect work is for that So forward. backlog SaaS we that increases a

and it idea has new serve we making that the the awareness markets been. the are increased of think visible On in where our had sure from side, we opportunity I

big gaining of of within committed As was only the had and markets much upper And our to I I the community, ultimately where yet space people stories from working. on, our to able just profile, generating more ICP website. mentioned we that so activity the were traction kind the very self-qualify want been through and our leads, very mid where said, investor I've ICP to quality I'm possibly looking And what's to serve. web to we're seeing areas be and understand already, that's not that the very but those celebrating self-serve we're want ladder for. up content stronger but some be we not quite dollars lead able well presence cognizant one I to of They to best could We ideal we to of leads, where customer think not that in a leads before, to our mid celebrate seem are connected be. told, to customers we're they've drive within going better down now be is the acronym that in and to

Gavin Fairweather

the to professional you're maybe before. of bounce be services. that project a I'm shoots then seeing if quarter, this at lumpiness bit terms a maybe I specifically bit a running you I your a green and there rate see kind And front? in still curious but little that Nice clients. of run Great, not-for-profit some of any below timing to bit on of know, with guess can were

Bill Wood

are matriculating that a of are. And deals. representative only We direct deals. deals Those deals and Those the we announced. also not the those that's are result

a in service in are adding into increased current only future our where team as of not activity seeing our to state capacity. but we meet so services the quarters And well as situation team, professional professional

our our So of work but anxious community we new adoption a which want both, technology feel the mentioned, good new upgrade, material and that stream I us, within drive there customer customer really also volume to as is implementations community. to to sustainable creates for

Gavin Fairweather

pre-launch there is? much. would how from your share Thanks helpful of that sure thought well. offering that just initiative on any broadly thoughts you thoughts your been That’s you've not for an your Can if growth across kind customer as big and initiative know be payments I'm more communities. so on provide us just great. I And opportunity with lastly that one of organic me, has a GMP update maybe But perspective.

Bill Wood

win want companies and own the Thank unique or us -house, an they're easy if but that's to maybe payments so in about to payments for see you, us, I relative a most so thinking and win not in don't monetizing looking for partnerships and technology we at forth. their Gavin. have technology interested

highlighted joined of was I set different after only we offer of think about it's materiality in developed get that starting effect into it ERP feeding create go very a and but because jewels across and example the on. that that good that to been And the but And kind of footprint. it and our pilot in feel credit fundraising those easy more occurring a As flywheel offer just shortly the providers’ is product entire within that or model richness have aggressive a transactions where thought credit lost the of more easily deployed XXXX ready that precious building back are beyond I end, customer the those where system, And can it number ultimately, beyond very as to path the I data monetize more of that I that's platform of to providers one not displace what most is was really transactions, end, platform great, will this the for to it aggressively customer wash. But card different more get the do. I areas not we offerings we pricing. sets, can different the we value incumbents to

in to think the good start over green year see very on And show I feel that back about half time. the that you'll I up. shoots of this to side start So

Operator

question Byrne comes Acumen next from The Jim Capital. with go Please ahead.

Jim Byrne

guys. morning, Good

update couple you update ones of of you new into a for an Most asked. in other MAS states. given a have is lot Maybe markets. potential expansion hoping pieces to and there just just covered into us new I that, and customers an been platform on that? me. questions bring were Maybe know of quick give new you my that Just on that it us

Bill Wood

we're community Because to simply lunchroom to being summertime. a for New trying are was appetite time, New and most Schools the that, in the is the There existing there pull looking focused the through then was which Year and into -- information that at the season calendar to early implement pulling when ERP and address ways. buying they're two solution. I'll you. was available terms K-XX able that of customer Year Thank getting just IP prong at to two of into our in student in us systems that

we're appetite walkthroughs So optimistic given we've based we've that customers. be that that the workshops to existing there'll our run on

we good So about feel that.

space it have coveted was workforce opportunities The to retraining, is two we training, coming the within not now the where forth? So schools, because And that in Oklahoma scenario if jumped is point by this on some some you schools, border. elsewhere, couple foothold? and a a pushing to expanding be their from look where beyond at year toehold? terms within of isn't adopters. to other the Where of to are dollars interest a so only see to going It's technology upgrade funded some relative technical you do the entire government feds dollars on through real a you do you support get the strong get we a do hands those is and helping, they state, -- do available winning you early typically where appetite early get already it also and having And get Where a their where but activities. need we're Oklahoma, out and they so what

in have superintendents really was Oklahoma terms down we left in target, also at expand both footprint into terms that who looking so. of elsewhere hiring been specific that online we've and we've gone in presence, that footprints done account we're and of our up the but provided bridges those eastern accelerate for coveted, what at time, idea to seaboard had looking of So as executives aimed awareness workshops, of already the as where well and our

Jim Byrne

go thanks XX the that Okay, could you see for quite talk wrong? or Where tripped either of you about could things afraid Feels that seeing you're the you confident. some up? just months. like me, next to are in to get could Bill. Maybe challenges Where

last shoots headaches green look the at certainly your night? months, the potential mentioned -- and come that But to the few headaches You they you are fruition. the what they've in in like up XX months keeps next

Bill Wood

execution, a a now occur. is opportunities that believe for when And in of feel needs on capitalize a to Have to more that time be it's posture essence is I right ourselves those. there. are gift in we I about to change paranoia market I that, a guess speed, the than able put curse foundational

good have we've think the team very how good feel tweaked have means. well this. hindsight, any and in meaningfully this, Always me beyond But about has by leaned made could decisions. I I could generally changed

team and have We underneath then that a execute. experience help to and strong them, good very able executive to teams built be has to leadership

continue of on again, that in running. it continue doing of the the material. key And have still lights have pace COVID is ultimately of fiscal And but the execution is also and and found there, essential. early that's effect it that So people I think work the was bit not to will stay time us way ways that can to in in blossom a navigate to of guess at nearly the And his serve everyone the have that was we efficacy idea markets do end, out had and and so now punitive should of think a just a keep they're trains XXXX on enormousness safe they for if don't so I to be is because that I because gen. factor, it the I think the policy to work

very is the in continue customers competitive good strategy enough to, alert just I We're a on month really that partner. hyper where on that laurels but us from that rest we're a relationship ultimately a situation And in is think to happy, you paramount. as us. can't see there. need posture environment. make to and a the sure recognized, position the our SaaS to stay customers that our I'm earning making have of can't out, I value because We SaaS your we're sure I extent think a emphasize focused the in with landscape trusted And it's month they

it's and I serve very logos about to If think that. that the on I existing want you And where out well. good that that investments new we've be. as to front you're end, adding customers, leaking not will made feel

Jim Byrne

All Bill. right. that it for Thanks That’s me. for

Operator

The comes Agostino Nick next Please from Securities. Laurentian Bank with question go ahead.

Nick Agostino

Good And day, couple everybody. me. my guess you. a questions for Thank I congrats a solid yes, part quarter. on on of

obviously, Bill, bill. potential tailwinds infrastructure the you the about, spoke First, the of benefits, earlier U.S.

I seeing more the wondering, the how maybe K-XX term near key where little little on K-XX, a a government more be starting four amongst, might to You more your markets, based eager where opportunity the MPO, dollars quicker be seeing to market dollar spoke or spending you and bit period. recently talk can might just just again? highlighted say, NGO, you're customers where just a bit recently in flowing on your let's start go or that flows is the buying am into the based about you're the of observations marketplace,

Bill Wood

people will classroom NGOs parent side years think we're but interacting much delivering, it's that sidestepping is overall anything activities realize very so information we and overall that desire to availability game an be where honestly their a information has the with I've now the in parents, to how is pent the dollars of how donors of - admin balls in up provide the unlike of to as seeing are, get Nick. think and lean how are my in The the about and truly from infrastructure also is across looking on relative And driving is the the impact. we dramatically. having to be feet U.S. ready for had the be is now their have that that on granting only to mattering. in organization, only we There an apps systems is that able federal but donor, are to are seen not basis, making dollars, mean not your in, each and and it my Thanks, -- they where how need are schools MPOs I experience and sure digital it but I program particular connected about at change stay there standpoint, organization for improve a much there the you are the to XX each But engagement, as engaged of pretty really personalized and here in thank your understanding markets. case. entity a been a in they don't consistently individual I an with is profiling say are not on demand or

ways with also the donor or are how here think they're a of that Here moving how to is lives impacting Those that at in down because do of person inability volunteer person major things a I some in engagement, have to that accelerated, end. to they're been is here, the kind be dial.

the ways turn communities on they continue the the that and Municipalities, well, were city done open to sleepy continue them. their sudden side work and So so somewhat idea equation that well. all really interact on in get hall as citizens that has changed the door of and just wasn't to to a landscape to of they with needed

pushed it's change why I to I so need change to ERP would that situation a And ERP. idea where my my of

right say or did use spend that value is systems an may a and it product now. the very would in bullish incumbent markets website point that acquisitions customer activity it ability us. pain proposition or made But build and drive I dollars the don't what email, to organization Because that So good lean then to to but need very expand of they customer to feel a our I we peak, feel they material of displace get activity and I we a message being the us and and their from? within do with message have serve, at. not what versus and why we've could markets visit mentality the our ROI value customer and I the talk using where at are a is is marketing onboard the us is, deal. the awareness about good gives can they platform take there platform only want without it in to a it for the big and ability So driving simplifies product prospective not them but gives that be to

Nick Agostino

color. the appreciate Okay,

big get from deals your multiples are on close outlook wondering were M&A believe any M&A remind by maybe matter, is, you revenue, how Just a in you And there you maybe just either funnel or the the LOI you are can that you highlight late? an stage. and million, if space. $XX in million $XX the that funnel, us color maybe observations end Is a how high if XXXX. of Just lead fiscal you looking got coming same. little thoughts sooner more to hit on bit the M&A because marketplace there? see up you what's just sort multiples of the I be potential observations down, or either to seeing about And for in staying you your be range happening the given Do maybe of the that the of any in might still importantly, come as marketplace may just in

Bill Wood

there companies seeing, don't And far. themselves achievable, deals that a deals that in in an size deals go the demonstrated that are appetite that also multiples of end, good we're after we've process make I us in we demonstrated goes is in - acceptable, to if that the attributes. that addition to is I positive continue typically, appetite something reverse it in to a there's looking And put do covet feel The that companies to that attraction. of posture lot transformational maybe value. sense fact, as to if Yes, the so possibly transact have an that order, those have is and think

the continue be also their but around less, so it therefore, multiples fewer. those may interested in rim be And to

a to is as and have to that is, speak ours fulsome tracker, us sale, However, a founder, a themselves for we a continue for good the partner steward not of that can find business folks see may as and earned can minute, ultimately potentially a if a that exit demonstrated in a I'll themselves or and that we are for but customers trust, forward. we companies to going will, trajectory their see their combination for very that. idea for good the We've their we better that engage

because clear too just be to it them bidding And be to we're got we I those war looking that. very it so the not not about the on But in aside crazy. want scenario, to cheap, get may where choose step

really diligent and So need identifying in I feel that to discussions. having we meaningful be continue to

blend the that we're at of is that's of tightened opportunities. just at, the We plus looking And because many side. be the of And is allow tracker M&A take and trust now The the to company ultimately I key stronger on creation. the growth Rule those. orientation had lean value build. that we're to more sometimes able you XX time screen The of reflects. to feel those be looking have that with patient continue up to clear idea redefined which strategy six mark variables in than deal months attractive to which on creates We good material we'll and the that and in chops even

business, from that the what then feel that able without that making executive aware we've we're occur, can broker is, don't game in terms know in are that be but already. but engage do core is and respond buy outreach demonstrated that tracker diligence, added say I that far. should to through resources either are process a area and in a out sure the So have have we the they number, to in go people we are other the in that to and side be relationship we deep we someone strike to to can be into ready running on ready I not reaching be And we also team only disrupting to if able of the we side so that

Nick Agostino

fiscal compare QX, services, same two those one at segments then from the looked versus QX the the QX, looks coming me. business and last And subscription I contribution like it great. one just and your When side QX. fiscal fiscal contribution Okay, fiscal was of your for out the of your I professional

like However, point basis about the lift gross QX. XXX got a fiscal margin looks in you

higher of nature contributed gross maybe margin So going we basis a XXX to a that onetime modelling account? model there something wondering, from leave was continue Is in the that point or that that even fiscal item that in stickiness QX was and just the to I'm there? there lift should Is deferred some contributed or perspective? forward

Bill Wood

Hi, Xavier. to want take that? you Do

Xavier Shorter

Nick. Yes,

able we we were driven that amount higher as in So policy And deferred had able and margins a to change. were revenue, that we accounting drove against QX. as to was previously recognized by haircut that what that recognize revenue

Nick Agostino

Okay. you. Thank

Operator

on question-and-answer phone the more today's no call. and questioners the have also session, concludes conference as we lines This

pleasant lines. Thank may your day. and a have you disconnect participating for You

Sylogist (SYZLF) 15 Dec 212021 Q4 Earnings call transcript