DHX - Earnings call transcript Q1 2019

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Operator

Good afternoon. My name is Josh and I will be your conference operator today. At this time I would like to welcome everyone to the Q1 2019 DHI Group Earnings Conference Call. [Operator Instructions] Thank you. Todd Kehrli with MKR Investor Relations, you may begin.

Todd Kehrli

afternoon, XXXX to Financial good First DHI operator, Fiscal Quarter Results you, and the welcome Group's Thank Conference Call. today's Officer, on and me call CEO, DHI's With Art Chief Financial Luc Grégoire. are Zeile;

undertakes forward-looking XX-Q revise to discussed actual a broadcast When to XXXX. announcing will financial the page and and company's within make to forward-looking statements that outcomes and obligation the the used, and statements release call being uncertainties, is results. other and call over statements. from forward-looking differ are or DHI the on results the from of management's historical delays in Art, to on uncertainties I'd to these on This Before website. may differ be statements forward-looking materially and I website statements quarter Internet This statements. for sales words few with expects, the update intends, anticipates, any Commission. of the this archived press and everyone contained future expressions fiscal and is over and These Act the items. release cause Exchange XXE Exchange turn forward-looking Securities with quick a reflect call, reports That the filings except at views risks Form company's and for marketing current call first in today's the on risks I'd dhigroupinc.com. Investor note forward-looking identify could available of the to that future and believes, interested Please DHI webcast Securities live statements like on remind forward-looking in Factors cover to Relations its include meaning that and events information, no parties, that other issued respect company's constitute financial similar afternoon, will section the subject risks other statements. and XXXX performance may all periodic management actual XX-K development, of or involve like the uncertainties. results any

call, which adjusted today's prepared with which most the on DHI release, our about financial measures Art of not revenues, GAAP the certain in in to at and the to over CEO Relations margin, earnings U.S. is turn these EBITDA www.dhigroupinc.com adjusted website adjusted during directly available section. and management I be our EBITDA are GAAP. non-GAAP Zeile, comparable are Investor now measures, accordance Lastly, of will reconciliations measures to referring Information in including call Group. posted

Art Zeile

Todd. Good you, appreciate afternoon, fiscal our Thank DHI. We your to welcome in call. XXXX quarter interest everyone. earnings conference first And

financial time We is several first increase point. years. milestone At percentage revenue. to a improved XX%, the EBITDA significant are same highlighted ongoing at by report revenue of grown a pleased results, our This in of we our deliver adjusted that sequential tech-focused solid margins another continue growth one to the it's because has year-over-year quarter time, in

team sales also growth. done and accelerate to launching commercial have a so, while in new We investing revenue

these As of part and year the strategic positive see continue operational of results other the of the transformation we past as over we to our effects demonstrate, the made sales, changes business. marketing

a team Chief Officer. Chief Marketing leadership addition our new and and Strategy Officer Chief new strengthened Chief Officer a simultaneously have new Product a We recently, Officer, with the Technology of most

in right on strategy. place We team our have the growth execute to

some the Now the we progress quarter. let's during talk first about of made

put efforts new internal recruiting commercial in teams. to dedicated their accounts a on joining good out my the maintaining for already rolled successfully. both team customer emphasis little ago, customer new focused to have year customers on do little measure need believe to base was our resulted in company and we that a to to we you, over efforts have I grow acquisition. accelerate customer DHI hire many customers, told attract a Prior its These direct I As Dice. those wins own existing

both agencies our already intend are XXXX we changed to programs, of commercial to seeing which and relationship, Chief first results to geared accounts from positive resources and seeing our agency paid new channel affiliate believe are In on and marketing performance in improved we an candidate by quarter, a also to results. add team, the devoted inflection are incrementally our further success. predominantly at pivoting our Marketing early our approach. marketing towards a we change refining is point, significant marketing the search We acquisition. in signs for efforts for effort bolstered We Officer, With the build strategy,

Our improved to how of our results business. we improve comprehensive the manage financial a reflection are efforts

However, our delivering more three our brands profitability make candidates. and by driven clients be strategy future a more and product growth for engaging will of each on to for effective

earnings these our call. our on center applying Dice from since report calls, the career last to past learned lessons As pleased marketplace eFinancialCareers. and I'm made ClearanceJobs I've the progress significant efforts described to in we

quickly automatically is capability our match are of sophisticated job competency these candidate's our technology matching each allowing For is and a availability our order relevance scored against clients all and general of step the rank to core was our Candidate employer differentiator to portal. access algorithms in experience Dice algorithms, with Candidate big of Applications a recruiters launch to our uses our skill, skills in commitment one to requirements upgrades candidates. demonstration the now grade and Dice platform, data posting. a of in their as forward Match to proprietary the which Candidate model a Match marketplace. using Match,

license pattern of and pricing rolling with introduction increased stages revenue In are are similar early we out we release and ClearanceJobs seen offering Dice, we pricing emerge. are flexible Dice per options, we our was user in pay-per-view our this for ClearanceJobs, the important customer current model. alongside model, greater successfully offer pricing, pay-per-view we performance-based usage. second the encourage we have which when delivered that seeing has of know a we Our although with clients years,

Dice within to XXX,XXX that and looking entire skill of a technology growth model relevant place, usage over historical data skills our the list title to their searches IntelliSearch XX% During over IntelliSearch using set description delivers seen a than an clients job that technology the IntelliSearch the job in against double-digit It of have we relationships, candidate rollout they our also first of most customers. we numbers. maps short that for. quarter, exact database proprietary applies skills also With the TalentSearch candidates fit in allowing rather our are completed and location. search

new eFinancialCareers ClearanceJobs and the in our first enhancements quarter. also important platforms to released We

fit For exact which new looking skills improved search career aspirations. provides we experience and job a eFC, released candidates jobs search that for for capability, their an

to. we recruiters user-generated from a connected they information last ClearanceJobs, on are of career-focused Next all XX for is For launched the feed candidates news December called introduced of we ClearanceJobs Generation year. the stream part which Pulse, a Pulse of enables platform

Next messaging communications. substantial delivering with candidates career a leap in instant forward robust over where by voice live a Gen true chat, IP on profiles, leveraging and is marketplace, opportunities employers engage

this that for release, are we engagement that We ClearanceJobs believe the early this that of marketplace are important doubled. success deliver to since We The eFinancialCareers. key product road ultimately which both in the every for note has usage, the Dice indicates and ClearanceJobs revenue form career part track now differentiate in growth. will features features pleased at least user that of drive incremental ClearanceJobs experience maps metric the we

innovation lot strides, have still made great of a While we ahead have we us. of

are delivering You will see capability quarter. through this second to new quarter, our job search product Dice. releases every meaningful In we the

releasing We are a extension new for IntelliSearch. also Chrome

beta Finally, a we will recruiter profile for eFinancialCareers. new be messaging platform launching and in

Today, vision of over our we Officer executives Board; turn talent and our will of Partners, Burton Resources may and the forward would also quarterly plan, Human SaaS want experience software we closing, Board Society Groupon is Skip to of Fusion-io, Resources Skip the our to at made Chairman new strategic delivering Systems. Max having during Cisco because company for who of Directors talent. quarter. range XX have. will professionals appointments the Board DHI we our contributions in and member as Management their to and we was Luc? our career of continue I as platforms two to our operating guidance Twitter, that focused our through of they years We direction resources Before globally let than we'll Goldfield, and to to of as become and more strategic growth on market, Schipper or the is of wealth terms services look David solid to have industries. the Committee, than important new questions and of the in At the of company. currently call and week. Human the Burton of backgrounds the to the enterprise annual industry like excellent Board. both to as Carnecchia serves execute Board experience you in former has acquisition. same: for is CEO leading serves Max a success throughout and our has as opportunities our the deep to the whose commitment People Human period replace SHRM. company thank the the many of the technology Max you Audit financials, and believe meeting years the Head held David analytics industry Barter, of I of Chief I on highest-quality as member companies. I Board served take a year. IQTalent change Officer a next and highlight right CEO platforms access human the chair time, and of firms, Resources Chief progress With Skip firm at the then will Mitek their that, successfully John currently Board connect experience, David clients remains continued on and the the Luc, And David expire strongly bring where Yahoo! take brings reporting more and the at In of best and me additions software, John Chairman of Systems. positive a of XX professional where as with members the Windley indispensable create current publicly team. believe David and to experience are conclude, are Yext.

Luc Grégoire

you, Thank Art, afternoon, and everyone. good

quarter, Art in we're our mentioned, our to ongoing especially progress this revenues. return tech-focused very with As our year-over-year pleased growth

and brands, to may What's remarks For since will our and X X noncore divested we call refer as XXXX, on closed related left these my story, on of Europe such that those is only businesses. comparisons revenues be our end the tech-focused business. brands Dice new the remaining to our and

in. jumping So right

seeing foreign up quarter, the reported in of we've a excluding over the ClearanceJobs $XX.X excluding and the in tech-focused steady seen tech-focused were made For we've time significant quarter first of improvement driven improving X% record another million, exchange, several increase several years first Dice, the The it's past revenue year. over eFinancialCareers that - and we've at we revenue, year-over-year past reflecting exchange. quarters the revenues changes we're in trends revenues, in seen year-over-year foreign trends our by revenues

points seeing we're We're continue changes this and revenue have $XXX,XXX XXXX, while renewal rate major total also over over sequentially trend to XX% edged increased with year-over-year. Dice Dice count year-over-year. the of metrics with much down Other our it was package quarter, only when our decline, customer the XXX in revenue. to customers is The include Dice on XX%. XX%. in important customers little $XX.X customer of rate during year-over-year to a underway renewal the makes trend quarter Dice expect brands. on which recruitment as improved the QX basis declined first improved to X,XXX our at is ending quarter, to performance brand, up which no many This our loss drive up has Dice we the happy the following years in million with revenue improvements from stabilized, X% XX% at revenue, had improved with or Looking

ClearanceJobs' least package key metrics feel and customer revenues first over product year-over-year $X.X average year-over-year recurring recruitment contract length are ClearanceJobs' innovation of and increase Our or recruitment months. $X,XXX monthly are slightly XX XXth package strong were coming over million, our We $XX,XXX XX% competitive differentiation. persistent revenues XX% quarter This per revenue the consecutive revenue with from quarter with on an an basis. customers X% to approximately by as XX% growth. underscores growth these annualized a increased of average at

was We're down believe continue quarter, foreign rates. the and some macro in for We clients. the currently represent line are penetration X seeing these a For was long-term point growth. some growth road America. quarter turning and looking competitive at in to banks our and innovation see Tier Europe of which headwinds we of X North saw prior Asia offset substantial year revenue progress strong million, $X.X impact in excluding growth in with Tier Overall, to beginning address help in markets challenges by challenges. the the by the we're sustained further the This growing Pacific, testing pay-per-view map to we eFinancialCareers, the these pool revenue we've exchange where reached and potential of demand of banks,

the tech-focused improve modest by achieve progresses, second businesses of now the revenue of our first the will is in year-over-year half continue year growth that expect Dice, as buoyed in poised year-over-year to XXXX half achieve growth and revenue We which to XXXX.

Turning expenses. to

of efficiencies. $X.X of ongoing First $X.X - year quarter business first due a million quarter business. divestitures of launched sales us fund million the tech-focused the a sales reduction to to efficiencies our as first XXXX. of the XXXX, the approximately spending in implementing related Europe None the closure expense recognition of XXXX. transition, partly in The quarter for new year-over-year commercial or These in unique and reduction, recur our and expenses $XX.X remainder related our well decline costs upon which of was million the expenses contingency standard. Dice of out The legal remaining tech-focused million came $X.X items $X.X for were expenses onetime operating million from operating million increased In by as a helped we from expense including commission offset items, CEO as few $X.X million a came reduction $X XX% to ongoing had force. revenue built these operating

initial from through team, traction As the and as Art good incrementally we're XXXX. to progress seeing sales intend commercial mentioned, add we we

$XXX,XXX for driven or versus year the Net million or $X.X totaling transition quarter income after-tax earnings a tax the cost income and quarter The year final diluted quarter per after-tax rest mostly share-based tax and share costs share Looking rest We'll $X.XX tax benefited mostly share. last have and net XXXX. development, which quarter were first sale EBITDA to first to decline issued $X.XX the businesses, in as by tax expected upcoming net by XX%, $X.X of for of by which of favorable expenses of diluted expenses should we forward XX% the tax concluded earnings and in general or million reflecting diluted for and negatively will XXXX. hold of are focus due current we discrete $X.X found reform product engagements continuous effective $X.XX discrete cost-reduction quarters, were in operating rate from moving expect Tax million, improvement. continue discrete impact proxy items administrative Otherwise, XXXX to million a per relating per the from tax an disposition-related current per a good rate be quarter we for the funded impacted of a disposition-related of differed to ago. are regulations the that several diluted quarters. invest of year, awards the the on February to was was adjusted share. items, of internal margin our $X.X for of $X.XX gain and or consulting Prior to efficiencies over expense an the items

a changes driven share quarter as in cash of was excluding first by XXXX Europe basis, XXXX with in on million result timing made results. earnings a Adjusted primarily a first XXXX as $X.X of beginning million the the year well XXXX. our our operating Dice So normalized quarter EBITDA of flow per first of line billings was $X.XX compared This the payables. to for first XX%, which when of diluted to generated of was quarter in for our in in of for the the the $X.X margin timing quarter million $X.X We quarter, was year-over-year. we first quarter of year-end settlement and of the frequency decrease the last $X.XX

We normalized expect of remainder operating XXXX. flow for the to cash more return to levels

few a address briefly sheet. me our balance let Now on items

to in invest rise a run current of we XXXX the rate to continue expect capital we of modest innovation. First, expenditures the as throughout remainder

of down $XX revenue normal the return was of see dynamics, May. last $X we working a at X.X an the pattern the buyback December million seasonal on the approximately practice now average price was leverage last quarter million million, price during XXXX. of was repurchased quarter $X.XX regards starting $X.XX adjusted our to a through. to year paid With to quarter, more our end about ratio since mostly shares and the million X.X cumulative average of buyback As changes our at program debt $XX.X Deferred have total billing an as having shares feel of increase end compared our $XX of quarter, program, we We cycled EBITDA. the at XX, first during million a of and the this XXX,XXX for as capital

of grow see today, authorized help the In appropriate offset user also our equally running through in for operating meaningful alike. is as leverage to so the of May in confident participating Xth from and employers $X candidates by closing, announced Conference at We're will May be XXXX, confident FBR final to new LD X front, in at can investor the we we've our presenting like I a XX, our XX. and Annual And embedded on changes ability point that, investor June. made call and B. X, across your on deliver our Ideas Investor Conference impact a and business that's program Annual experience And Riley on front tech-focused dilutive me the market we're And be for differentiated believe June number brands at relations compensation. has one we thank our you Art. excited to buyback as the Director in June Boston I'd Art there. we in interest on opportunity May As to the even ability and today. and the always, Board stock-based which Coast - significant benefit East begin We'll of and Conference the hope revenues of Invitational million you far. in valuation We in turn let on the and many current of us deliver back to Micro a with to conferences

Art Zeile

like With to achievement It Luc. for once world is Thanks commitment, employees begun I'd momentum. be happy a focus your hard with work part the with milestone. our pleasure by questions. take team. such we're to thanking and of great close your revenue around our XXXX we their a that, incredible And growth to again all have and of

Operator

with Instructions] Marc question [Operator comes first FBR. Your B. Wiesenberger from Riley

Marc Wiesenberger

that some of Can how are digital you marketing guys about they're resonating with you respective some And cohorts? talk their of the employing? strategies

Art Zeile

SEO, marketing different we and general, strategies, say would digital social also of paid of they the campaigns. e-mail would a in into have number I campaigns and search, that affiliate channels fall and Yes,

in channels to is a we the process what over we've past now selected an so have been And specifically, six agency we months. with and broaden campaigns, the an all on affiliate last as one of result of RFP other to those successfully channel able that the done help focused mostly

over we're that, agency the to grow to middle paid early big the has the That difference, would this quarter. so agency seeing signs And literally some impact the especially February, expect first of that XXXX. came of made board their a see and We year, so quite course really regard Xst in of search. with on

Marc Wiesenberger

more on the clarity can With IntelliSearch, within or quantify impact search respect to Dice you the that activity provide there? of some

Art Zeile

to we've that frankly, there usage total our IntelliSearch to throughput. after. been manage the of of to migration the So and itself in that of customers a a done could taken change measured customer And through the X platform before the activity we've one conservatism, And quite In those date. that waves out of make cohort waves. each waves, sure have we've

have we double-digit in So waves. seen, increase across of all those general, a

field, increase Some in search usually area, believe in posting to making that talk like of very title it when I those lot ask I recruiters' more the I a the experience, search easier. putting customers different with skills that you entire you and that The which which it's gives utilization. work information you an from get you're an because IntelliSearch, to waves have to and a describe seen have When into the a entire XX% we're information. our jobs job different XX% a if just And location. job way of essentially job is to of competitors, putting posting, put to you're

So with have of have of relevant And candidates through XX want in developer to more in where have a short hits get relevant of shorter or work the very list have we list list, resumes have say that and the X,XXX than truly, try instead developer they Denver Java found them. a a sense of candidates to to to XX a make Boston. recruiters sift long a really PHP that to you recruiters

Marc Wiesenberger

that you throughout the potential know how see we driving get Or on the incremental revenue of pricing. some Can I year? kind and maybe maybe - about talked expectations performance-based some growth? uplift you

Art Zeile

Absolutely.

can it's engagement. tell out used both to a kind forecast predictions, that this customer eFC as new first pay-per-view So stage and early it for you primarily and Dice quarter, I to us pretty we rolled tool make we've any of for but

so pitch essentially that the that'll - essentially accretive. the We purposes so of circumstances have has idea far renewals. is in we have that the be of less What of revenue seen it been number that format taken that when customers where used that for logos But there for revenue it we of net-net believe accretive have us. are pay-per-view certain number we

we that actual that too dollar bit revenue means a to it's course percentage it's the of So on do early believe predict basis. to but over a XXXX, an little going positively impact or what

Marc Wiesenberger

previously, Matchback talked program well be quantify the try any are about initiatives one candidates. helping get attribution attribution think you to and you've that your able and recruiters of I you more to recruiters? that Have to value with show to being adding for success as had that to place as program? And able

Art Zeile

Yes, way And in I specifically with we're that fact, that was PAC describe eFinancialCareers, our would constantly and in program. Asia evolving the is that originated it region. it

the as it So Hong Singapore. over And we for in and Kong in banks program of year a place have think that had working now. with larger

customers We shown have Matchback have to those platform the multiple customers. eFinancial that encouraged successfully, use done to the shown and of it - value

Dice. moving to now that are We

it these the specifically customers, has if we in prototype program by proven of actually the and run shown and we're - to in platforms. that I our with to that But the - eFinancialCareers the suffice the Matchback can experience have we've to say value. spread tremendous region, really so rest trying been And cases where X

Marc Wiesenberger

some can in talk and to allocation you $X plan million priorities that about the In capital addition put the place, forward? to with regards purchase uses was of cash of going stock

Luc Grégoire

And talked we down turnaround. really and that, support our to pay consistently company's changed. beyond continue our revolver. about, continue would I we've to to think hasn't want capital the Yes, strategy near We this term, allocation something is

we mostly opportunities can And are excess back our accelerate then we us internally, And looking to capital extent Given the liquidity returning to that bring in we'd always some strategy, of find been we have would core then our go should on we would keep some - we revolver - that identified, could it help probably consider for - but that. we've externally the that then we shareholders. that. would nature it, focused the comes reinforcing

to we've consistent is us basically an that's of - So with efficiency is, the that. price more the help offset play This been given much comp. dilution us and stock stock where for

Marc Wiesenberger

from I one of just more guess picture. And me, big kind

evolution to can that think already of about you platforms, differentiated there the the X As to that want look I all large platforms? and the you're across be excites any you kind leveraged kind doing that technology but out of you technology marketplace very might acquisition, in integrate is provide necessarily would approach? a well a or what And targeted enhance of you don't mean that

Art Zeile

in that in And deeper would that job just XXX,XXX a of company a question. to great job as data that's the elegant So believe I we tell in to into of model categorizes the more can And competency that that real you, have our I Marc, and basically understanding different technology is world, posting core job over jobs like iceberg, relevant skills. model in model looking search XX for when what my technology is skills, different is a tip of a skills, the career requirements are client or scenes a typical detail. candidate nature and does the And what's posting for happening behind building get data candidates their posting skills. technology the at for we're a is evermore be and the that there opinion, the going we're matching in deeper XX deep and understanding that

AI an really perspective, of what noted understanding depth be would from data into even us we've skills us. science helps that to perspective, beyond that today a intriguing anything nature getting So at a really

have have tell team on that, years that very say you science mature X data also to working that been a I Now model. in we when I can X had that place for

that stands it with like do So a a engage I'd have unique find or or data they whether if we could today. understand very be we to that but candidate, as opportunity, acquisition really model company particular mature and partner not

Operator

Sidoti next Your Company. Josh question & Vogel from with comes

Josh Vogel

move I to first clients this wondering mostly flattening decline made pay-per-view? you X,XXX. guess quarters the was after out making question the sub-segment of my that's by because around of of saw recruitment I number now was several we you're sequentially, of the moves the is, to package just if or customers XXX

Luc Grégoire

a see the say, this quarter is - There still to churn, that I'd you could have metrics sequentially last last happens creates XXX earnings compare that stable were we in renewal as fourth in our there. and you so Yes. the year. point. the XX% quarter. in of a and we bug. first And biggest business, release We have book do see bigger are But the actually, we if year, seasonality down that some that the

round actually year, this we're about XX. now down we numbers, these because So

we near a on level that to significant So expect view term. X,XXX as back trend improvement X,XXX, in that that the for and be

Art Zeile

we - of the customers, very industries. of Josh, large those associated the didn't look, lower-level actually And because I'm any also And customers. we size encouraged type information at with lose the

we're reasons. the customers all the business SMB the that part It of to nature. is of for universe just actually or XX the a - on we that of base, failed the just we're they the cutting quantity. always small that saw customers approximate the the left customer And looking where value part relationship aware, are reasons be to the relatively one the completely improve number product. of back a be But customers customer the As expenses, might unrelated in different quality leave might could - the were not

Josh Vogel

again, any accounts, if about of Art, you of - even where to delve some direct spaces. that you've deem opportunities. example, government white other was and about spaces know directly commercial the we know update contracts some white I to wondering for for pursuing growth. And I hire, maybe maybe, could these you with as regards several past and you opportunities the talked opportunities are these us in maybe as into about the

Art Zeile

Absolutely.

of commercial believe to that story a that do more white-space in In obviously, there's team fact, and brands. to really but Dice, of sales it each career that, to accounts our I opportunities biggest terms to make for specialization marketplace, parity one two ClearanceJobs' in represents. a to our capabilities, the get different capabilities, are is for true the CJ's efforts, the really bring with addition what platform

see we of the more that success. and more team course grow We as will year incrementally over this

the is Kong, They're Hong Luc actually seeing attend that actually We're Asia-Pacific there's really as level of For that second-tier But that being sales a teams we number platform. basically top-tier to to positive banks growth priority numerically. eFinancialCareers, of historically. generally. We're in region of more we region. brought to the in the those relationships adding region banks to attended again, our people capability in that ClearanceJobs we trends moving trends. expressed They're really Singapore, those the platform growth because very both X. in double-digit feel we're never to eFinancialCareers like same lot And the

who growth For that Lesser, been ClearanceJobs, obviously, XX%-plus wonderful Evan year-over-year market. They're multiple doing a for sustained by named is led has a gentleman visionary they've quarters. this They're a job. in product

their out the government space, never and at really attended government than say contracts Last the and federal prioritized and start form to to needs revenues to about to hiring - opening agencies consultant year, with government. that within more look have that professionals. is for technology our together the come we in We agencies. of hired doors map government agencies. from the those the is the to a proof-of-concepts X% meetings of for put that consultant same and us less helping year, essentially test government ClearanceJobs This within We system understand

some some customers over going relationships we're that going the to level see of XXXX. level have hopeful we're success, think of to with direct we're ClearanceJobs course building I by government for success So of

Josh Vogel

are environment discuss their the overseas, Brexit their sitting for companies where hands, clients waiting basically other out. play seen We've to on

hiring and prior slowed general activity quarters. business in So in have

Brexit or your are particular? let's of average like business of So impact dialogue I'm Brexit Brexit, what just curious the continues back back, say the your sounds on business, get as starting in pushed eFC to any about with as to usual? clients get just Are you to forget there. seeing idea over they

Art Zeile

in would fact, that multiple an have attend of office U.K. still to some we we're specifically. amount I in for Europe, market and seeing the say markets Frankfurt. But headwind in we

a activity geographies France. Frankfurt So in pickup there's and Paris, been like of other

on I would balanced are professionals say to the against come convincing difficult macro have that the U.K., With a times headwinds board. very the technology banks theme

says, help team With is still So recruitment that and it lot looking at cycle." that to sales activity approach now that "Hey, slower that regard the technologists very around is to right of they the that the think no taking U.K. they're I way still sales market. with the a high. are question the there's said, need a people So for valid

Josh Vogel

revenue And quarter think, terms, those regards I is like back last XXXX, some discussed customer then with flow and adjusted get deferred or items, just for accounts to that cash And of which expect Recently or just impacted, receivable, you trends? a to couple quick fully to normal ones for now? liberalization Luc. -

Luc Grégoire

slowing contracts that that went end through. front we XX%, I of big Yes, from selected where our into down, and is to and that's annual The point. we've XXXX up XX%, at we think about saw 'XX a cycled XX% held of

So at look a financial see that if and year can later you - our you statements.

higher than deferred showing at the actually end did we're higher that we see the of at the year. quarter receivables revenues, the of You'll first end

and If it see the the you that's the reflection at you'd flow, year, look opposite adjustments. last of

So is capital when the That at the thing. flow, you working cash I same adjusted. look - cash think

in If look cash we you our really of pretty the to XX% flow XX%, cash earnings, of and adjusted get to been terms they've back forward. generation expect operating EBITDA steady going at

Josh Vogel

following lastly, results, year we your should rate of in from XXXX range? with those commentary be discrete just the to in - the over And mid-XX% items, the tax expect the tax balance of like outside line

Luc Grégoire

obviously, get we XX%, we've discrete tax these which Yes, expect except you we still noncash. that, expect mentioned items, for are

a noncash and basis. You set on it a adjusts noncash benefit up basis on the

is your standpoint, - XX% think that the from stick. good it still I So measuring

Operator

call back at There closing the further turn time. for remarks. are Kehrli to no Todd currently questions this I'll

Todd Kehrli

thank DHI for Thank you, operator, and interest everyone Group. your in you

meeting with call. management, for you'd concludes like day. Thanks and great a or schedule to If today's joining a have XXX-XXX-XXXX. please ir@dhigroupinc.com at us call e-mail This

DHI (DHX) 5 May 192019 Q1 Earnings call transcript