Earnings call transcript Q2 2023

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Operator

Thank you for standing by. This is the conference operator. Welcome to the Research Solutions' Second Quarter 2023 Earnings Conference Call. [Operator Instructions] The conference is being recorded. [Operator Instructions]

to conference like Beisler, to now Relations. Investor would turn over the John I ahead. go John, Please,

John Beisler

Thank afternoon, call. operator. second you, Good quarter Research to fiscal Solutions' the XXXX earnings everyone and welcome

President website XXXX. On today second results company's Bill Chief on a researchsolutions.com. afternoon, Officer. the Financial for press The quarter available this Executive the the closed company are Olivier, the Nurthen, market call After release the Officer; is and at Roy release and fiscal Chief of issued its announcing

Before and could information the today’s expressed prepared XXXX. due to to earnings risks filings to issued company's Solutions' of of Securities Roy or implied financial are and with A future remarks, I this factors. remind discussion you measures Private Bill of certain useful begin reference to we the those the Research Act and their today Actual forward-looking would results that statements be the variety measures of you afternoon. those Reform like recent results some reconciliation a refer the will condition. investors. GAAP a may included detailed non-GAAP which SEC press believe under impact the more of in management will differ financial provide made that for Litigation release We from made Also for operating measures call, on materially

recorded company’s for and Finally, I website. available is on remind would made call to via this a like replay everyone link the

With the now call turn that, over turn Roy. would -- I to to like

Roy Olivier

to John and thanks today. you, us Thank joining everyone

our in Transaction versus cash and XX-plus with I'm results, the revenue and QX period continued percent performance growth our happy our about think and and review EBITDA same year-over-year year. in growth revenue I last the the the flow Platform As generally

is customer. in a net of new as new we what call, headwinds growth, bookings experiencing and new are ARR transaction in defined some which a We terms platform

big have net The we like be general in in over behind renewal uncertainty. to quarter the over I'd not new growth is does which our of churn revenue but include revenue consecutive to acquisition net growth for second show was continue rates results. the any it seen QX While smaller start overall some in customers improvement and ARR be strong bookings. will in to XXX%, FIZ and our the conditions up it where is a related terms increase to QX’s Transaction economic from

of in the $X and period in flow We’re same EBITDA million ‘XX versus million $X.X improvement the of very first XXXX. the proud cash improvement the half in in

about Bill? provide you business the will some more in I detailed comments state more results walks the detail. the after of through Bill

William Nurthen

of Roy Thank revenue was for XXXX XXXX. quarter good compared and you, to million, increase fiscal everyone. the fiscal second second XX.X% quarter a $X.X Total the afternoon, of

second represents As double-digit our noted our of press in growth. this revenue consecutive quarter release,

Platform upselling up of sales X% low customers. or of and in revenue months, year-over-year, revenue Platform existing stood continued sequentially increase end our recurring at and $X.X million, a quarter Annual deployments quarter customers. increased upselling XX% deployments efforts ARR, of second XX% over XX the Platform the new and the reflecting of to $X.X net at churn and last XX net current million, primarily including driven Platform the by

and and sales recurring X press today's had also Please for revenue related Curedatis release We annual newly other see use in product. items. of non-GAAP quarter to definition our the launched our

is fiscal and prior in X about that the talk consecutive year the QX growth see be will prior segment quarter had Transaction for was the not to the completed that second year-over-year growth million quarter I to to revenue, in I in growth our we FIZ transaction any This and later. Transactions do wanting from the include $X.X transaction business. well turn saying was customer could acquisition I revenue quarters going Transaction of QX. to begin $X.X growth more fiscal forward. impact As will that from we the consecutive compared numbers impacting comment follow our this noted In This positioned for X.X% past, the of million second quarter. for to represents that revenue

now are and seeing we trend seeing We Transaction in that, that counts. as signs can both paid growth are continue academic

is by second for count customers. margin in corporate in X,XXX to profit. quarter of fiscal the first constitutes towards revenue increase The shift quarter of was basis of customer the a our mix revenue XX% Transaction business point XXXX. was XXXX. higher-margin quarter of quarter X,XXX gross Platforms now the Gross was the for due driven versus and The improvement an second the fiscal business' the XX% XX%, increase XXX over which the increase

mix I reason continue XXX Platform of The of grow. limited margin a gross With which I at XX% Platform to margin and in later quarter the no continues for prior the why corporate Platform lower some the in as gross to gross due basis maintain software increase revenue business we from that labor the point expect continue costs. exceptions will trend note margin proportionately future, call, foreseeable the to year percentage XX%, cannot in recorded or we above. see improvement can

our the in prior Transaction XX.X%, business to margin year similar was Gross quarter.

expense is the costs sales this quarter. spend. due for as and stock moment continue will compensation to million quarter, $X.X range want a higher year is primarily I marketing XX% margin higher noncash in the within and to operating to of Total compared gross take the expectation XX%. that to notably a to to higher $X.X were stock-based it prior quarter compensation Transaction discretionary expenses million stay here Our in explain

with of the part fiscal their as did many program where year, replace stockholder $X, fundamental stock restricted shares executive within maintains and increments levels years. to program Program next a installed restricted change granting Bonus of price with on $X.XX, Stock when Equity are it This the we share program. starting this $X executives X quarterly Long-Term was the call $X.XX involved we with the $X.XX, XX% Restricted million received new and better a vest which team the aware, X.X prior of attains executive ended designed eliminate interests. As this to per and across and bonus when align for executives compensation The stock in a the

If the payout the Restricted stock under vest. at upwards years. and it the of value with the attained, market to we vests determined are grant these drove has a do shares spread value of an our XX% amount would million they is been of how valuation roughly imply the determine this require over $XXX the not expensed. of the executives to will third-party Conversely, over prices is high that are The the increase being such during Thus, stock X.X that not fully million the volatility to cap grants that expense stock amount. that be $X, if this approximately $X.X stock that time. grant

The to weighted X.X-year the plan, period the new and forward eventually X continue a stock the net expense we expense and old is plan expense with from dealing from the associated all earlier expense the some presently not indefinitely. this of accelerating the expense more for the compensation is of as than plan new that runoff are or pulling effectively will standpoint, while with

In Grant well. as Option the increase addition, which compensation served annual expense to in QX, we Stock also had Board our

expense QX to the from start approximately quarter, coming and should runoff $XXX,XXX for XXXX, QX, In the come expect we from levels. old plan. plan of compensation For be from see expense to new stock these $XXX,XXX $XXX,XXX and the each I year the coming fiscal down

new important it our I over the prove long given the we term the expense to beneficial discuss for point apologize long-winded we there the will thought that more in and to reiterate believe QX but level explanation the for shareholders. also plan it

back of compared share the was or quarter. for new net profitability. perspective. of loss Turning the share year have the was prior the restricted $XXX,XXX in roughly per year $X.XX from per GAAP net would $XXX,XXX $X.XX the to of in or to to or loss $XXX,XXX Removing quarter. effects a a Net ago $XXX,XXX a our compared breakeven EBITDA to Adjusted plan, positive close loss stock been quarter income

$XXX,XXX compared X the of over over year. of first generated months of EBITDA adjusted months the year the X now a in fiscal $XXX,XXX prior of first have our loss fiscal to We in

up to sheet XX, XXXX. and balance an speaks think our on increase backed $XX.X The I cash equivalents were $XX.X they XXXX, million which of Turning earnings of XX, by December Cash in as cash. flow the been million our grow. increase quality adjusted and cash EBITDA June as to versus has in well

and credit X $X.X or have borrowings There over have cash We in liabilities. were million of from the flow of outstanding months million first operations our now long-term no under line our fiscal revolving of year. generated no debt $X we

everyone ahead, items. aware make a of I As we look wanted few to

First, we Mexico moved a direct on January X, relationship. to in of employees all hire our

We approximately in cost expect this starts slight may gross $XXX,XXX before will result of again. additional margin in cause QX, rising a in dip and it annualized

opportunity Transactions early Second, customers provide customer contract is our It do new to we realizing from but us to upward, There segment. expense an items some in to us double-digit will are be perhaps growth to QX. push of the revenue of related FIZ X, growth commencing transaction think hitting projection January too continue that rates gives that in acquisition. a impact these it unique hitting

year level to QX be our its expect coming in again level QX. back I result, the before in a expense at As down for operating highest

Adjusted showing a fiscal finish flat year. QX, EBITDA likely QX down for to resulting but from upside then very QX strong in be to in our will

to back call the Roy? turn now I'll Roy.

Roy Olivier

update give will value Thanks, and business is overall translate I'll you Bill. on the next long-term In into minutes, few how how creation. an that working the

sales. like to discuss and First, marketing I'd

has marketing As in Marketing is around XXXX, leads starting out new you in new qualified who Head to of that execute we driving team a a know, or brought MQLs. built

sales more around and release for product have, programs both generating new programs webinars, are launched and several first newsletters, the These driving We media. and MQLs are upsells. new, social time, notes

in in there's driving QLs and sales. very I'm this While terms about activity to lots in progress excited of team the left do,

being Regarding continuing internal down acquired. we for an XXX%. show renewal results plan. an Upsells new be or QX strong and to sales, reflected in shutting behind rate in the sales from We've uptick over we versus but continue still primarily new, showed to our are existing team improvement seen churn in our sales businesses QX net as

growth expect recall for level ARR not that half are second to and You level at of net and I we be our may that that $XXX,XXX a in is the year. over quarter the target at don't

development terms are more to of we our MQLs drive upgrades in training, great materials, of and that said, the in business That better teams sales doing leads. things a teams better lot products,

I think improve. the economy continues help drive as in the results more will long term, to that

Transactions operational an We we across and we our the with accelerate This support perspective, over and that is the no From to onboarding, momentum score in that the as in feel that operations in customer driving regain improvements reflected market we are year-over-year transaction the deliver can technical NPS growth segment well headcount. and increase that the prepared made many are reflected in new organization. sales remaining XX improvements recovers. to fact

the and plan above. sorry, pipelines tracking releases XXX had upgraded XXX strong early products 'XX sorry, products, referenced have to for is over with opportunities conservative product releases, I'm rather which over maintain high us Manager to -- net pipeline. accounts References specifically I'm manager I References are going have adoption. Reference We've Curedatis' turning XXX we rates or renewal and have Turning -- our over in launch and our has the reference helped well product Pro

to positive extensions. outlook see our and specifically well add-ins add-in products, traction our as our with continued as also browser We've word

nice resulted has in a this of uptick users. in All active

the growth. users some are fiscal in beginning ran Transaction the recently, XX,XXX year-over-year Our the Most in we at the which active almost of helps month of active $XX,XXX platform users rate. 'XX a seeing explain

early from The indicate revenue XX% the significant almost year-over-year numbers. signs government primarily that customer implementations the which with resulted Transaction FIZ complete has strong business reflected transferred of Preliminary in but academic not January. and FIZ of in users. growth we numbers QX onboarding in in The is growth and customer base improved QX the

increase January similar seeing users. government aforementioned are based plus at we active as growth on in growth numbers, and the the year-over-year FIZ QX strong looking corporate In academic and

the opportunities We continue walked be or in X opportunities have IOI were M&A from very stage. active LOI in and away that to

solution improving overall We on workflow. an or priority. our the through continue language focused and our integrating processing intelligence, be to NLP points deal product Getting in AI, very the artificial done several right value remains research natural into highest

ARR couple about As I my of the I mentioned growth. in outlook next net for terms remarks, remain in of earlier cautious quarters the

However, and the I'm products doing than of continue M&A and in bring that business. we this and long-term our marketing opportunity in sales, -- remain products that and change confident value does customers. not my activities the view about excited product, are to for regarding value will our ever our bring the to our more

value bottom I think our and poised improved lines. to deliver we growth as and on positioned are the to markets general shareholder top and really well see both we economy are

I'd that, back over With to operator Q&A. like for turn the to it Operator?

Operator

from [Operator The Instructions] Capital. Richard question first from comes Baldry ROTH

Richard Baldry

to customers term, back central know I newer know that pressure historically the I helm kind chatting, the are what the decisions in this you from of seems short but would curious step churn? most your level, has I’m you can do. people pattern company. what of the of the briefly at guys Board for the make to been if in macro assume

quickly pattern should sort afterwards, think there? they how come So to about of tend what we do back

Roy Olivier

Yes, this Roy. is

I organizations bounce And in think They're need is don't because are small. back very did down the a They our smaller maintained typically a question. a very, a think they the in growth maybe quickly, seeing in pretty we And and last economy. below and then stop don't points doing they And research kind economic on few strong. customers. companies, and a very, downturn. some I of great the rates all of that's went research previous lot their the having that remained churn we them very are reflected stop specifically publishers of what public through that

higher look then our to the So it’s sale. when we anywhere would even revenue than dollars at we little logo like. a count, And per not are close average

an little seeing are we uptick. a of So bit

want We but primarily are It’s it very you happening Bill? it to accounts. concerned is Anything small add, established with not more accounts. about larger,

William Nurthen

Yes.

savings on accounts on to that, being been realize I achieve have Platform. the to for us that associated larger actually a and the time, Just the do add long think with they with

something Platform. actually it's being the they're where So money saving on by

issues And and about there there. losing so I think we're customers concerned less

I think adopt new environment. in more getting the of the just to Platform pressure customers is the

Richard Baldry

vigilance in talk can people both and of the successes to see motion? see you once? early more little starting the products in a bit side. the to going your existing start working put is sales dedicated on you’re Then Are successes referenceability? have you the How handle as to at about kind you that that Can group

Roy Olivier

think of handles We product model products we that now have Yes. the model. which right is the is a existing the group with support the the specialist

think goes we dozen terms we we interest. certainly, get then But of product the watch team. right now, appointments in a product. I upsell hunting want to up are teams may and over demo where people getting does and point we the the customer And specialist good sales dedicated of a and have our a as that setting using grow, a in,

don't between now the that I this and that's point to expect think year. of the and fiscal end at I So working certainly change

Richard Baldry

type and the how this of And happen starting calendar think with on should Karlsruhe ARR forward? sort impact acquisitions, we year have about active that counts this partnerships, FIZ going could do customer of -- of what then sort with the year

Roy Olivier

Well, transaction-only in will short very because these have I little impact think it primarily on customers. the are ARR a term,

starting do they're from in need to in cost the on happening. any reflected year-over-year very We Transaction incremental deliver the which is to the bump headcount to them think bring business. low. rates Number the nice us Transaction will I growth business, be to that. those onboarding And very, buy don't So we're incremental are and X things in one, -- articles a

the nicely will to flow So I think bottom line. that

as upsell percentage And those a side, transaction-only calendar next converted X very look Research that the I years. a their is XX-plus customers we the general convert On company to years, in percent the the but of full X what opportunity look at I that know don't over does all as to X.X what we we'll customers, to X an over ARR into about think of reminder, year, Solutions Platform. when existing impact. But the percentage. little think probably in like

we a percentage So execute, material of we convert if could, them.

Richard Baldry

flow be been would Is of has seasonality of thing about? in the that be And how second ops any unusual there cash pretty last we from thinking anything strong. you sort think The sort that? first there out Was half should in the do plays half?

Roy Olivier

you want do Bill, one? take that to

William Nurthen

unusual much Yes. think it. No, in there's I not

done. occurring were a One that of I things and we our couple prepayments previously Xx some they made we've think, year. that again, about to a of is publishers had there's

We've lumpiness redone in increments. a in make some cash arrangements X the them causing equal was those times flow. year that So to

so helped And we quarters, think And some variation see bring think to prior forward along. this that's variation as move fiscal I things in less going year. there's to that's while I

we on for year is contributing QX, the overachievement. through QX. really really getting applicable and the We are both our are a little interest usually, in QX in is sort that And not not that paying because seasonally, majority quarter was gain. sales applicable toughest QX, got and QX will I more when that's say, won't out and bonuses And the cash of we vast of but be

still I time. some seasonality think could we So over see

reason will but why as closely said, year. fiscal this it of I don't I the very with rest can't flow for align, good we to produce think see I EBITDA continue a cash

Richard Baldry

the quarter. on Congrats

Operator

Group. The from comes next from question Allen Maxim Klee

Allen Klee

incremental think ARR curious drops to was percent of how EBITDA? I about you what

Roy Olivier

Bill?

William Nurthen

support ARR. to margin, support it good XX% a additional vast or question. that additional of of G&A of lot gross type We need Again, the Yes, that's at don't a really, costs cost majority dollar I right? think

ARR profitability to quickest dollars. So our it is increased is increasing the path

go shown just gross are expenses, we too sort gross question if you as a Is we really that they're the material intentional are there revenue but of can sort look right dollars of of expense, over without those uplifts making some areas. much kind time. that of the it's more line, a see uplift not support reinvesting we any we the cost. margin have margin And additional at not. And increased or proportional that but in that up additional there We below dropped in some

marketing. They're and They're in product. and like things in It's that. G&A sales not in

gross those commensurate And so be to sort again, so -- going it's with levels. margin of

Allen Klee

heard And something. -- Got very I transactions, cost you confused it. was as new that. customers there’s add little heard on that little I I a to

So I to But bottom gross a lot you’re of of saying drops line. it Transaction were the margins that thought the XX%. XX% to kind

So meant by could you you explain you what what said?

Roy Olivier

Yes.

current should drop said trend margin bottom to being headcount to I incremental mostly because I the the bringing the staff interrupted and line in not revenue -- any incremental have in the by bringing Transaction we're Just the will sorry, I'm Bill, with clarify, from growth. to you. gross we're team. the handled It's handle the

William Nurthen

in influenced the Yes. margin. the of itself would a is by margin mind, I on just that tight actual very margin is say, keep lot a which article gross

actual many the business just that EBITDA kind to the could remember still EBITDA associated so not of a little also will back that there's the is costs to needed flow that more a favorably process bottom grow, segment again, in to labor gross margin more swing the the is -- vast that you publisher. really, range bit is majority coming into have And but royalty growing. perspective, dollars all the component margin that total But of because said, is to us But line. to transactions the from those

Allen Klee

Okay.

is over XX% the transferred business FIZ dynamics? of the those to that So would base follow you of of that way think

William Nurthen

Yes.

similar gross So margins. it's going be to

grow, the to again, line. the drop going more you're it's dollars -- to Transactions bottom more However, the

Operator

from Rabover Instructions] from question Capital. [Operator comes The next Peter Artko

Peter Rabover

go of I It are to of the bunch the more you the came One cash So going like had on majority that Is of number down expecting prepaid lumpiness? that the that is of Or the a lowering looks you forward? questions. in more housekeeping that’s flow. one. general royalties. -- from

William Nurthen

sure. Yes,

basically -- you look that, and there. at there's history when the So

causing a And But think out again, making -- is to I variation the going X look times prior, there's look year-over-year. prepayments you that year. You when X are over time. we things this smooth were

where didn't with each we has our quarters, getting in certain in compared year, those quarters year equally fiscal this other prepayment each payments a have That times now So were quarter quarter. we making had to starting prepayment. -- we're that changed. a and each We're

that help So variability of the smooth should some there.

prepays they those The other to exhausted actually thing in due the been growth. that had quicker past Transaction is the are happening is getting than

So when Transaction to and by there's coming on prepays move of cash go next a X that those as last And I is of those think prepays that here, you'll see that year. grows, less lot we gains down. lot changes prepays. flow really what we you X exhausted basically perspective. forward. a as end look we books But saw from the accounts exhaust a led of And again, think of that you I the had some the variability into the months, the of in months, prepay Those put lot December had the in

Peter Rabover

that And then What $XXX,XXX noticed is the that Okay. that mentioning is asset earlier? what were you -- that business Transactions purchase. I

William Nurthen

talking acquisition. deposit the we've the is we contract FIZ about, been on transaction that customer That the Yes. made

Peter Rabover

got a I for Roy, question Okay. you.

Peter have of experimenting tried marketing cetera, lot So marketing I with that stuff not media, A was of which of if for you those social that few et lots been success. in here for some years. XXXX, webinars, lot a was XXXX. that of the mentioned, was us things remember, a

will confident curious that things you guys result these that et I’m cetera? so what I in MQLs, So now changed believe, makes

Roy Olivier

Yes.

metric dashboard very that I now the think oriented. the biggest is team thing changed is

live and attribute literally we're sale. shows to sources investment an CRM back the our system are actual dashboard that able every of leads day have here we and to So changes a an these

contributed that's decisions of report, that's review let's in directly back that these marketing new, y of us investment And back programs, programs. directly So I this x a revenue good not year-to-date was percent return through dial able percent sitting the to revenue okay, new was to attributed our on these let's investment. they down I back to program yes, make, last that's generating results, think, on upsell in about, double was generating basis, enabled in investment better this were a our program week to and a

So not not of for I don't now. the I'm I had type -- I do we me, was XXXX, -- obviously not in but did see dashboards we if so CEO those

to we we I integrated can And building not marketing includes we also opportunities CRM. have this CRMs it made that clear into also to they've marketing the into product, that going CRM the team, the can we're growth if stuff workflow done see it single and track whole a works. X of we engine invest so nice discretionary back had a investments it and now unless out and measure job

So forward, is invest in to the what's objective going doesn't invest work. working what in and not

Peter Rabover

out few Evidence update platforms -- academic know I but if I -- ago. then, believe, ago. years wondering I the a heard on us Okay, did have a could you rolled great. haven't about partnership you almost X we the product. quarters it in years this Partners, was few you And b, And

that's out and making So whether worked I'm just that's any curious how progress.

Roy Olivier

question. Yes, good

on version free the version a a upgrade to Galaxy installs decided of reminder, high-XXs working the this provide and That's On beginning in we paid to to as Scholar we the opportunity both pretty the free short of year, of emphasis this in Article really have put generate a year. installs of revenue and lot term. long transactional an term in drive the ARR and terms well. version in the We're a

are those of paid. Some

a AGS much market some version in get not premium the market that able I’m free. to to crazy generating that are in year-over-year tougher seeing ARR really corporate transactional those significant of it’s just upgrade strategy. we of incremental least space of at the are result revenue different because very Some growth it’s and about but scholar amount installs academic of academic segment nice the and we as we’re And from our can later. a generating the

working. generally, think anyway, So I is that strategy

opportunity new, based partnership We I could wins around have others on think that the the in XX of have and The or direct job none general, around new them is one revenue. do here in terms driving amounts heavy better mentioned, but we of and specific have probably world. are a sales partnerships. The of bulk partnerships in mentioned that we force. of We you XX our occasional the you lifting do huge upsells

Operator

question from from Management. next The comes MKH Melas George

George Melas

you I On Curedatis and us mean, on of products the little the take how specifically, new And can you Management, that? I lot update. Management to on of an a give or bit update Reference do a -- mean Reference seems

good there. that book comment So product can clearly, Maybe they on product a seem you on and to be also the set market at here?

Roy Olivier

Yes.

I the it. A place place. It's think, in X or people having your instead place XXX this far completely been, exciting you and document integrated product. In to lot search different a it of like in workflow in and then X into year. get store your do terms then of have pretty a upsells References, as we It's XXX so I mentioned, of

So of we a and to have like of continue demonstrations it high number people product. really the

a nice home upsells. think really and I some triple driving but product a that run So it's in ways, is new maybe definitely sales

terms had a is In Curedatis very very, conservative plan on but plan. Curedatis, of we

it have like it. acquired The to think prospects customers the we've really it. that like it I showed

in cases. a we a it's maker think different and to out bit model sales decision still many there. It's little different the I need figure

actually what it, that the it love the corporations are of we tweaking what doing pharmacovigilance So the generally, we does. sell kind users, to work we're the sell still and how people who messaging inside of the is. But it

that second of half will think the the So through year. I gain product momentum

George Melas

does Great. the How your existing new you and work? The people’s Reference are Curedatis replacing Manager, clearly products that products? The product. other is

Roy Olivier

drivers Yes, call great that a that it, Manager Biblilogo. question. I of Reference couple We've we business. I have, of guess We application describe did light got a would as

or our may or calls in previous You that public hearing on filings website. remember

and References So Biblilogo. Pro References ultimately replace will

are as we've customers customers that nothing into or new are are sold mentioned of Pro I So the from and upgrading or onboarded References, result there References upgrading Biblilogo that number References. from either a

-- or it? was I that have think you another did question

George Melas

these my were add But and understanding that that that is big there are wondering, some what that of sort had functionality. And clearly, trying expand you I'm of companies a share in state they to product. Transaction the space how Roy side to the progress these Platform replacing what and other adding I’m and and trying exactly apps people’s is, my understand question making Know have there you’re but features.

Roy Olivier

great Yes, question.

move been free Reference competitor company that's they upgrade enterprise would in so Manager to freemium corporate they They doc and into version that later no space other document they course, that or away had there hand, the we're company. into doc trying Europe that give References. application. we're version I a churn to a would model, was a delivery were a from on think that moving to a of was already delivery virtually We, premium delivery in. We've a the had

lost have deals We company. new that not of competitive

delivery terms while a the us their much and in I of job feature set think we on better they edge on think the I deliver features, still doc of side. that have XX% do probably we

gaps continue So them. narrow I to forward, taking them. we’re That feature well with share compete think going from any said, not and we’ll we’ll

on a of smaller competing to provider are we handful have And we deals displace current a of won ones. number a

presentations seat very typically opportunities very large process. out I’ve have long drawn enterprise and won those were not ones. couple XXX-plus a any through sat cycle, long We that of the sales of are

fighting accounts. yet any won but not to definitely providers of larger displace we’ve we’re So some and engaged and current those

Operator

to turn closing question-and-answer concludes Olivier I over the any to This today's would back for session. Roy like remarks. conference

Roy Olivier

A you. Thank reminder. quick Great.

Conference ROTH the We in March. will Partners in participating Capital be

For joining us I sales feel contact to for And information great rep. and event, please that a appreciate your free more on everyone ROTH afternoon. today have

Operator

This concludes today's conference call.

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

Research Solutions (RSSS) 9 Feb 232023 Q2 Earnings call transcript