PLAN - Earnings call transcript Q1 2020

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Operator

My name is Sharon, and I’ll be your conference operator today. At this time, I would like to welcome everyone to the Anaplan First Quarter Fiscal 2020 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker’s remarks, there will be a question-and-answer session. [Operator Instructions] Thank you. begin may you Tichepco, your conference. Edelita

Edelita Tichepco

And conference call morning. XXXX Results. thank Quarter you today’s on Financial us joining to Year for Fiscal Good discuss First Anaplan’s

with Executive call Officer. quarter Financial this and our our financial technologies. call, best making and financial as based today Calderoni, other today, obligation being performance, customer Those Joining contain These differ forward-looking we the guidance are our These after be On filed year are will permission. fiscal statements statements, with on known Dave anticipated and reflect Morton, may the may differ currently forward-looking our disclaim during actual that me statements. the factors future operating from factors second Chief or information reviewed revise our SEC, actual filed press not any risks to those materially. forward-looking update Officer; documents we and XXXX, today’s presented and to and including results Chief or and for Frank statements. Please events including this of this cause statements is X-K judgment results the our demand, on strategies, accurate current may these in us to refer product to documents contained call release. or expectations made If call Form contain and we

operating the are all results and non-GAAP non-GAAP which principles. with financial not discuss gross otherwise accepted We measures, our a on margins, references Unless call, in also during basis. prepared accounting will are generally to stated, expenses accordance

website. is on of the GAAP historical in release in For provided our supplemental press financial our and non-GAAP and reconciliation results information periods,

with to Finally, your And to we will as are I our it over Calderoni. following do for and will best Frank we to time turn questions our accommodate permits. call that, remarks now last approximately prepared minutes today’s XX planning

Frank Calderoni

our to welcome get our call. who we good to are and where you, by would morning, like start-off Thank our partners, us and first have in I to earnings especially first and helping to Edelita, customers, you investors quarter instrumental thank been today. employees, saying

very are without a amount come loyalty commitment, and from dedication we short done time of we far have in of have could We the stakeholders. our all how proud it and of

increased solutions leader a We are business rules needs grow modern to dynamics. believe now and marked as can the the can very engagement that momentum pleased planning digital drivers and the Anaplan The results our with is of the are in and leading market of rapid are committed planning enterprises address all we role applying the performance. well. future. an that the adapt it for regardless strong and industry transformation. reflection solid is main year phenomenon to their address helping growth our key quarter business we behind This result platform, of expansion order is We as with seeking solution are first we indicator they Every operational a compete of a to of are financial new our are seeing business and faster that growth play producing the connected in only start

this digital Our topline our and technology the can strong reflect experienced growth. business we platform becoming new results the quickly core quarter, economics improve any is Within of standard dramatically have that it.

$XX grew to million. revenue XX% year-over-year total Our

leverage see increasing while Our we year-over-year continue percentage non-GAAP operating in growth, year-after-year, points very margin maintain improved to business. our revenue strong XX as we

have annual customer customers enabled us a base. serve first in to recurring grown to customer our deep XXX the first $XXX,XXX now number and dollar quarter in Our a customers our year-over-year. multiply, of for our new our them our dedication and grew Planning solution strong platform customer establishing we to The experienced and a in our which broad continues expand demonstrated XX% as that serve first wins as was quarter. Connected high We with grow. We mix relationships to XXX% momentum customers base demand relentless consistently the putting revenue, for continues network healthy and focus on grow has enthusiasm to by interest expansion with rate, activity have over our

our to selected modernize This as quarter, companies the large scale and globally. could in beyond largest XX,XXX their is then a Consistent customer processes extend has so units insurance rollout X,XXX first this strategy, business our for they functions. in finance. implementing employees to of This platform Anaplan of over and Anaplan and customer land their world have one needed of that expand financial our platform plans almost with locations, a one part effort

XXX is as its countries. flexible for platform customer Another quarter is support modeling The well a planning our information global and intelligent This capabilities. chose company as broad a potential over new over has in and XXX customer ability services business range this cases, a its that Japanese years communication and conducts for of to leader. use operated

The sales across first months which use took forecast to deploy. case business will units, previously enable a multiple consolidated accurate

on priorities this through companies, transforming Our for Officer led further platform Strategy to of and timely key and lost planning, on enabled A technology were to manual quarter and penetrate using marketing Chief in we driven forecast. their transformation improved limited markets with focus the now experience operations. workforce their multinational now visibility Digital already expand Anaplan and I was core against geographies customer one user our that within their effort a Chief spending runs more met personally days digitized have largest capability and sales financial of how we a their dollars. has with help forecast their investment and and digital They technology platform planning into has with products. way. accurate discuss campaign across marketing Previously, Officer to millions processes their global focusing platform are are them their to

will budget tracking. this management the this optimizing marketing lifecycle, modernize foundational customer’s as across by and that its as campaign planning resource well capabilities We platform are building marketing

Future four Anaplan’s in new They calendar excellent external becoming recent we a have help multiple of to many case use planning standard within and planning in these typically for framework in rapid rapid example how emerging place, the expand their within industry sales, company. in map lines about single of Anaplan are An rapidly or we XX typically a and the to deployed suppliers. connect visualize drive deployed continued as a in cases a XXXX Overall, Recent use often customers, adjacent network to customer of were of use or of a to lies cases cases and within number to use year an Honeycomb, verticals. call one in with Honeycomb XX a operations have them use customer’s that supply and to a Anaplan see April are OpEx to planning, chain just six addition to areas. XX cases this are as of use planning We months and with new expand related supporting business in Honeycomb. hexagon which in digital such of a transformation built products this goal deploy connected cases, areas an Starting XX-month our additional business. is large GXK period. use in a their cases total consumer expansion out have cases platform and we within been using bring P&L across this will plans into across finance, project incremental support a an Once XXXX. road additional use

leading the As industry deploy companies industry. results, the the quickly our platform immediate spreads and within word in see

in their and conduct can verticals, of we their the our platform customers many the growth example, achieve way are we often with For business that the we digitizing the only believe are goals. that they and help ambitious globally them we cosmetics hear spirits leader

Our happy in is several a and customers promoters best resulting in domino now and industries. successful for effect salespeople this and Anaplan are

where our and systems this to Oliver partnerships in invest capacity Anaplan partner integrated in They and VCG, priorities is their Wyman. Kearney heavily including leading firms, broadening strategic our of the scaling contribution. McKinsey quarter, continue and A.T. on-boarding our Bain, and see formalized now strong have top One world’s partner momentum we and global ecosystem, with capability, we practice

was recently won also We accelerated go-to-market their Anaplan of Annual named award partner the an Year. Summit. Partners with Wipro at

an one version of impressive quadrant to a supply included high market of solution. focus. We note we moved Magic last is globally we and participating do user and One a are countries and customer our this Quadrant. virtual user we that of considered is our capabilities event including few adoption player inaugural leader for in XXXX position. our our the important S&OP, area proud were Gartner’s and a was XXX recognized this community, report, believe our Systems companies further categories The recent in different through leaders’ of of Gartner very six with the have satisfaction a recognition of leadership It’s the quickly platform single-platform. chain XX We of niche because conference. is we over achievements Anaplan impressive to Driving as as way In the are by represented. in Differentiation, of Planning Operations was Gartner Sales

our customers on Francisco. Fortune of our are XXX our host taking place share the in excited to events, June XXth some including to conference is Anaplan at stories Planning upcoming Connected XXth global user call Xperience. their Our success marketing customers and global we top from It San

we in a businesses Anaplan expect improve as continually a large real-time maximize We enable future. will will and fully opportunities how decision-making turnout digitized showcase to

all all momentum are never We and every we user prepared better our are will to taking over for With with people. transformation experience digital for brings customers this experiencing which moment. we industry, have life opportunity demonstrate and The been our exciting. essentially mobility, new planning

believe inflection continue we increase an We at point where adoption. to in an are see market will we

will the purpose-built breadth across that smarter gives Our six depth and different help and quadrants organizations any make decisions. better, faster platform

to quarter turn for first financials me and Dave? Now, quarter outlook and year fiscal second let call will Dave, discuss XXXX. who our the over the

Dave Morton

good morning, and Frank, everyone. Thanks,

revenues For fiscal calculated our We exceeded quarter XX% of total financial last comprised of this, metrics. were year-over-year and key revenue Service billings all subscription million we year-over-year first of revenue. $X drove the expectations of up in across were of the million from quarter year XXXX, and first growth year-over-year. $XX million, XX% within grew XX%, revenues up XX% and our $XX

contracted obligation total two are We key of billed for and performed There or accelerated of to up expect RPO revenue. factors last recognize be both unbilled performance year-over-year quarter’s the last XX%. can with of over RPO. rate RPO to XX% $XXX that year, compared which million, a subscription exited influence remaining Our first quarter consideration business remaining as to consists we that growth

the is of term First and length. weighted-average contract is renewals enterprise the timing large second

from standard within contracts three contract range. are approximately are Initial and one-and-a-half renewal are additional metrics. contracts contracts length, terms. that have Highlighting somewhere results We some land approximately years expand in key years

Our annual customer recurring over with our our business up customers of to retaining in the last dollar this from year. revenue within based time recurring XXX% customers track with and rate in And continues XXX net period expansion last almost We to the annual customers number and $X doubled revenue, same compared success over above in million XXX XXX% has expanding the year. this, underscoring steadily quarter was existing base. ended $XXX,XXX

to which We was by an in our our led size, prior up of continue growth the compared price, average overall lands drive increase year. XX% deal selling the to

We diverse all across have industries. base broad of and range a customer

breadth some diverse largest in strategies. growing goods, our our with of oil the customer and role base gas, value customer’s customers in transformation our deals digital in the platform, verticals, and technology consumer speaks were of and financial increasing Anaplan’s This to thus quarter, and enabling

and and investments, was Turning basis driven operating seasonal quarter, expenses points from and $XX non-GAAP year-over-year this, were period. call, X%, gross the points audit growth were total operating strategic a gross subscription year year-over-year XX% go-to-market fees. gross in Total costs up Year-over-year included kickoff and margins metrics non-GAAP last our first the our by margin earnings XX%, profitability up such as spending in our up basis. margins annual for mentioned on as year-over-year. $XX XX Within services expenses to million on was basis prior first quarter XX approximately million, flat sales certain were

negative negative year. was $XX to year. from in points, $XX from margins same XX.X% the the loss last of period operations quarter XX million in million, percentage last First improved down same Operating XX.X% period compared

see weighted the within our investments While achieving returns financial fiscal the and model. years, over beginning growth the increased loss we and better Net early of our go-to-market we are are Free per scale cash capital still equivalents. share leverage the based We cash stages $XXX was cash to $XXX driving leverage topline quarter in in from the strategic our is was and with flow, average million $X.XX, first which expenditures $X less from million. on the first quarter for quarter in negative million cash operations ended flow shares. in first

We have terms momentum market heading fiscal goals. into quarter of strong XXXX second profitability and in both the opportunities

share revenue million $XX.X range million $XX.X approximately total in shares. to to the the of quarter to the for to to be expect operating be second expected count XX.X%. We and of non-GAAP negative in million XXX Weighted average margin range is XX.X% be

in see driven business. we the XXXX, our first fiscal by and quarter full the For raising ongoing margin operating and we outlook, performance the are our strength revenue

and the growth in with range expect $XXX overall million million rates. we Looking $XXX in of revenue to billings expect be track to revenue ahead, we to total line

Anaplan’s renewals annual XX.X% impacted billings. is expected operating previously billings XX.X%. can Non-GAAP quarter-to-quarter, range to to by of from now the margin and calculated stated, fluctuate quarterly of As negative be contracted in timing

strong to upcoming share with in count cost significant with the then a productivity XXX deal will our first expected related conference to our strong the full business The customer in quarter quarter, approximately growth momentum our and average and drove reflect base. reminder, economics shares. gains. leverage we As expanding There in results and annual improved diversifying increasing summary, business for operating operating excellent through model June. year topline second million weighted in user expenses In is unit, the sizes, is be

I it continue back now the our to questions. We will execution the that, are will take leadership connected focus to category Anaplan’s confident to drive your market. turn operator and planning With

Operator

first our comes Davis And question Canaccord. Richard from Instructions] [Operator with

open. Your line is

Richard Davis

Thanks.

question. quick Just a

connected of of are loaded fail scale no So a the phrase. seeing always kind kind not you is tipping a companies in Frank, point and But, try past bunch of planning.

think So this dam think work well? -- important get kind I this you about of to early about can kind something there what’s most factor kind -- verticalization, this talked making is is mean, you focus on upgrade delay, just of identify when -- But time is what I cycle, you is think steps and the you say to the could broken consult when and about that’s what’s of this, that it validation, it everything? kind I it’s can guess, we to about outsiders thing Thanks. of

Frank Calderoni

a vertical say. Yeah. this planning Richard, over that’s good say the question. spending in XX I should I have or to years

the that a half period the pervasive companies, can hit show I effectively what two the have that The large been the time. really change so with we accomplish in phenomenal in a do far what and planning. Anaplan in I across and especially I and compelling much they in their think I years think, examples think I to there to well platform myself for many we you has first customers really haven’t start, way thing with of back what as been leverage once the that companies, stages pretty that, these mentioned to last process, over really think as that that say from on really able And standpoint decades strong as planning enterprise, digitize, embarking has planning. enterprise start very of Anaplan, if is that is have the a tools look point in several of years as seen on applications. would and over remarks, last are companies they of and prepared companies hasn’t an to really to are trying is I all doing GXK they to a start that of a early new starts the And it’s over And as

period that are looking haven’t it’s and realize backward time, of that an think I forward very the the looking with a and delivers. option make more of So flexible, haven’t short processes been compelling value they rather costly, than that’s and that change, can change kind in that much a really providing customers had Anaplan been has where these some very taking platform part

Richard Davis

Thanks helpful. super so That’s Great. much.

Operator

Your from Jaffray. Piper question with next comes Zukin Alex

open. is line Your

Alex Zukin

taking Hey, questions. for guys. Thanks my

of straight biggest as the perspective think, actually and far it’s billings As revenue dispersion acceleration, the a third I quarter growth. growth rate billings growth and from between

opportunity how some So maybe year large and think quarter the sales you maybe renewal unusually in about as we the recent and we the think first can about talk changes leadership. marketing about last? any versus And of in then renewals the this should

going, that’s how Thanks looking on expecting again you guys. are and for update there? you what an Just what are

Dave Morton

I billings Hey, was latter. you Alex. then take to it nothing approximately a that was and In first articulate get from turn within the just dispersion our then It’s are year Frank there over three regards contracts the I part We and billing quarter. would will up as Dave a to to. really address will years. to and Morton as know, abnormal the standard you it first clean our referred I It perspective. front

per we so abnormal land, within at the end look great the quite finding not of not also that, some goal we but then only day, anything just we And on and At candidly, with with don’t the are customer are se. expense. the success, seeking billings being

strong above I lands experienced, XX so ensues. coverage so mean, the well pipeline have that to $XXX,XXX, this and momentum just it continue even both and continue, and top quarter, expands our deals We with be we

from billings it much pretty that’s perspective. So a

Frank Calderoni

team. am I think extremely our execution results to progress me in focused we extremely, proud say of making. are quarter am of first CRO, the demonstrate Alex, first So, I that strong I the leadership really the on that just We regard and let all,

this I is about is in making $X talk time, and beyond to place, scaling our so the have billion putting we been on internally and to order focus, do mentioned Our what plans this and business that. in last we and investments

As I as this we have almost every right we is part retain really marketplace talent. focus continue of week we can talent several say we scale. as more. as right are in focus talent, the sure the times that, on to I’d probably the making far that attracting out top week going or talent and a

enhance the Chief to best Officer our as with Pinczuk team -- have the operations she’s both joined six us as team of company. at really in think across solutions, on of leadership various then as been last time Ana product go-to-market, kind Strategy think year six the back YY and engineering Over helping And us different in of September frame She’s and very continued our build we months, this helping the and really as platform back Lee effective the going verticals. Officer. the also the marketplace addition Transformation about well been Chief as in about focused beginning forward. the hits what we the the

the strong continue with our team And so am very as it plays continue have this will get geographic I strong to Right and strong to internal how I inbound CRO, evaluate who interest, receive, a going see relates and I we so options. I performing to now, have continue out. been And well. to see to sales extremely leaders,

Alex Zukin

Thank Congrats. Great. you, guys.

Operator

comes Your Sachs. next Heather Goldman with from Bellini question

Heather Bellini

of couple Frank. a had I you. Thank Great. questions,

was know the the increase. the of about we guys ramped wondering have there without how specific And I with you us you little sales been should big everyone’s and give then, trend of have the growth number? us versus business years, think had year kind the also this a you subscription quota you revenue if we both the any just ramp year, obviously giving was how thoughts sales perspective. Thank I talk talking billings could a if you in this competitive even the to a if in question adaptive I having the growth about about seen acceleration magnitude about made to sense carrying just growth us last I thought investments you. can bit over wanted from was and a grow about sales more have workday reps about headcount if in share wondering if helping on reps. I are talking market environment, awareness? the the and you the now product mean First, seeing the but

Frank Calderoni

first you in in market invest in quite which So, we I maintain question, to think, opportunity, we growth. continue to as stages expect large, is as Heather, and are your the far even as the topline think I or early order accelerate will the

continued able the the that since quarters So, in our cycle say to I we been IPO, ramped progress reps. have in the deliver. with investment been a the have are going to I that reps last have have pleased three to

company, better allowing say, the can several where type consult been quarters And quite regions, doing overall or reps, takes this say they in how that platform, monitor RVP also dashboard, of have going, across sales But develop far, we so the productivity build performance it’s able and even the instrumental in our and through reps SPM nine extended XX Anaplan have of especially business, that We of the very the which pipeline the reps reps, how that reps. to manage the monitor timeframe, will regional to how quarter are to monitor our different very overall to are over to the I RVPs -- been has leaders would this, we have, in last have have of to the able time. better in to well we which monitor RVPs, also I some which as is pleased and can to deploy with where the know, over of of the that also see. months continue they call an been reps what have what we ramping the have progress. ramping you as kind and mention coverage well. have months as the even they period ramping reps geography alone, they advance, performing, the deals, great to able I’d from or close been produce

the as been would say dynamics, far there’s I As competitive no change.

the not in marketplace. We in seen have particular anything

I because, as think mentioned compelling. quite is we earlier, it’s platform have the that I

We Planning really can different chain, this supply Enterprise are it out believe, sales, for quadrants perspective. from I finance, address and to so our opportunity be as on platform platform. and close the to a only the one comes when you customers there planning, no six think ones, that are within result, with And workforce about looking coming us that

Heather Bellini

Great. Thank you.

Operator

Your next question comes from Stan Slotsky with Morgan Stanley.

Stan Slotsky

Perfect. question. much drove big taking the pro guys Thank thinking strong are to for rest acceleration, prof about services maybe as dig your partner how strong so ecosystem, year? year-on-year. you you the growth for very in of expansion quarter? growth my services, bump I the services follow-up into a the the question, prof wanted with of XX% the What And in

Dave Morton

Overall, This strategic Stan. from on Morton. then on add Professional end, really additional a to I ensure to is the the has we point Dave nothing of Hey, continued changed let as will comments. deemphasize. are it Frank stop customer some back From level, our just add of first -- take from our view. continue a part and services our Think to success. going

key to percentages don’t coming we had at but and percentage backlog know as some focus that in FQX we mass a to Quite varying amounts then both as where drive. subscription candidly, subscription. versus is in have continue through, our We will see our is FQX and in continue you

so partner, that’s well and our something that sets. noted, we they promote, our an as in continue multitude across partners have amazing have you customer we platform of great been delivering Economy, with this to as As

Frank Calderoni

on let said. add what Stan, just Dave me Yeah.

has started of the have the and to we out one that I on branch both transactions volume all with of expand. first overall of we this think do it things land

model. say the which faster I should larger working focusing organization, think larger a expand larger new through well, at our to strategy and then, selling -- that and C-Suite, course, lands and deploying looking high expense of comes is is I

been team, grow. a our to we with been number that continues to We with but are been extending added seeing ecosystem, consultant services our also a that’s a as are as have of have partners. ecosystem need added consultant, partners the the The added

X,XXX have a We over right now.

We focus as starting starting are with with around, also of more get Anaplan workforce solutions partners develop commercial where And time GXK let’s to go the we therefore, planning, that embarking see best say, planning, accelerates demand to a solutions we traction to both have can they planning are partners so certain are market. that can or develop that many accelerates now large solutions, to because with but on market. our the to customers, we and leveraging or some are able areas success we

So services, well just partners. we services around said as additional that as what far color our from as I are seeing as

Stan Slotsky

Have year you at the any just something you or add-on come which the before? don’t expansions Frank, seen deals why maybe in quickly speed the And shrinkage year and start to the a between roll it. very in. dig Got on when you versus initial mentioned, add-ons’ just is sale your ago and in that

Frank Calderoni

remarks, sooner Honeycomb, GXK of example prepared a that to to I about value the looking that allows talked customer the minute see that And realize to think, as value is point expanding really for and they I are and think they support great expense, a for at the I the get value, starts also mentioned additional them when start early. I that to able Anaplan faster. track more that’s good in customer added which

the and we of say with mentioned and pipeline fact I at larger think get should And know in just areas. believe it that the I in with say -- in look impressive. I so, this as am have and more certain to other stages before, this the year. transactions but that general. still I One expense really accelerate faster -- I continues early here, rest enterprise for to we seeing -- I GXK or And are I But I

to If said see, the time, what top that’s of you at up at the average good look XX which and X right. are QX slightly about the last customers now is million AOR, from end we we

AOR good also If expand even you your but for a traction to top grow, expand. and further average have XX good customers customers the annuity, that’s with that you a to continue continues these with

Stan Slotsky

Got much. so it. Thank you

Operator

KeyBanc from question with Bracelin comes Capital Next Market. Brent

Brent Bracelin

company. and that or morning, thanks the follow-up Good side, quarter just the again, this that it all the mean, typically you? I productivity go Frank, answer strong is you What the were on momentum QX seasonally for what quarter, demand taking you drove for is surprised I metrics wanted the software question. is Dave. seasonally a my for a for slower sales back for is a was had historically a during period Frank, and there to I here improving quarter what slower that nuance this most, and more one

Frank Calderoni

I Brent, to up together. that is mind coming say to really everything is the Yeah. one how comes have

transformation, this, the been mention a that couple of to to I many have to expect we with we together, right? really investments quite on ago, you productivity, making partners, the I going right bit. out year I digital talked a about, our I in on, a to this well. As recently, strategically great getting the were pick and to also example, mentioned would a road offering far back into us we have bring GXK, can is as I to As as in whole things customers think the enabling working getting the that a we go-to-market new new was weeks see and so higher aligning the have with for kickoffs with before start how work came it if various an things it sales was off more fiscal all other are and

their I is firsthand met global past unit do and had to two a head when a came which use hour company. It’s over did was to and large spent General that XX Anaplan first unit one probably deployment Manager. existing there with that alone, their company I that really case weeks business on very think we with me outreach. meet customers, but customer months CFO I of ago over CIOs continued the and I a GXK with especially that C-Suites what’s And in just had wanted came finance, few the of prospects Anaplan, first an mind. business in great, I the -- their to with hearing This new

At met in have an his was engaging of his planning of X:XX extremely understanding we story we connected about of and hour a best his a to today. and connected meeting, and better he were running that We the spent in of, And he planning. make in think, we had decisions. the early morning. needs, to have meeting this I address to the think to am am now business that the see I leave think the and better So was the he because the day, platform, I and concerns going morning. said him meeting and host me the articulated better to said, in I able end to I to is can this going start have it was don’t for I solutions everything together his for again, because coming run business He

Brent Bracelin

I encouraging up A certainly QX. follow-up new $XXX,XXX, the on together Dave are only and here. for cohort we over the versus see to just to customer color think net land customer, this season that things here quarter strong sequentially new XX Very is in helpful XX come

just outperformance was balance lands that, was the So or and what expands? that it side land a just of on drove

Dave Morton

Yeah.

lands it to also before articulated But partners, within tell balanced. articulated It’s I as we I equally our amount and within have inspection the deep to XX-XX even and levels of land expands the own the have and opportunities productivity able some think models mix would across the been have as that we between out. some that well, we biggest Frank productivity expand. fair goes has framework the after on and all back you go of how well. of the it and productivity the it’s a street, of TAM defined we within feet productivity within are our rolled described have

would come tell different together. So all those I it’s you factors across of kind all

Brent Bracelin

That’s Thank had. you. I all

Operator

SunTrust. Next question Tillman comes Terry with from

Terry Tillman

in. me fitting for Thanks morning. Good

whether follow-up. and I those terms Have question chain and you, had of noticed a you across supply is them this in it’s maybe crosses any you HR. quadrants finance, across the discernible changes of and sales, first business mix changes call the Frank, any mix for then -- The just just quadrants, as

Frank Calderoni

mentioned and in I finance past the outside XX% overall in continues XX% where and to Gartner Terry, last I recognition It to the chain. is continues So, But finance. that by the the in have about about accelerate the see this it it’s supply alone say mix great Magic of same, leader in -- to quarter similar the which was as the Quadrant.

got back also using in the how that trying to global the cases have companies looking supply in week what to works you more, look in great area If interest demand are I Anaplan chain remarks, if outreach. we continue have or mentioned say lot that cosmetics, to extremely supply uniquely to it specific process and it go really companies talking streamline Gartner manage large connect either pretty the a the prepared and Anaplan which think on a them metrics supply. not We we is to we Chain and in for that and see they basis, and and in I I a the ago. about those have of chain Conference to those of across much are I help by spirits just positioned all use so and supply their just them customers at solidify Supply a and chain use digitize great and and well or at Anaplan and got also the strong supply the one of many chain. But more

Terry Tillman

assuming Dave, reps But am Thank quarter June quarter different a factors. And in that can then, your you. I maybe depending billings out User volatile question we you, Okay. on sales totally there. prospects just be have Conference. have understand the I the for

and innovations. quarter to trying But nice billings the Thanks the going and just new job. quarter aggressively about second are sell the from You to conference? when about any the in or thinking be around talk them of and implications third activities maybe User Conferences there is

Dave Morton

pleased a we approach day, have saw, still really end we are having our of very to and at guidance. the that, said Look, prudent with momentum our QX we results and

at of prudence. coverage feel so we additional we that at our with pipeline the opportunities to that reflects And this level and coming the see, respect time guidance us

Operator

comes question Materne Kirke from with Evercore. Next

Peter Levine

the Great. quarter. will Thanks. I for This my on is in Peter Kirke. Levine echo congrats

one just in Thank deals equation, what on the the performance partner of your during with Maybe for versus regions led why deals mean, partner about look about talk you U.S. are you. different international that I done me, you So how do talk here partners? the can quarter. outperforming and and side in

Frank Calderoni

that look overall performance, say as if as in the I’d in across the Peter, global I at Board, Europe, well the strong was So, it Americas, Asia-Pacific. in

Areas very in which but We the Asia-Pacific, seeing a us has a are in really regions, small some all rate. but as and well well, as Japan doing of is expanding unit for especially rates been rapid growth Asian in as Southeast countries. such Singapore

in to have all continue are been focused. very as We but invest we we regions,

progress a certain will making select then are where investment we regions success metrics we that put and the we and region. So certain the are determine we what take another looking we of we on establish before to amount for

the not all we Europe, have in So necessarily well as Americas, as regions in Asia-Pacific. in of been

be into for opportunity how very in but when disciplined provide we will us the does on markets. go and future, those we it So

I are help and our ecosystem, is larger to Asia-Pacific would the are mentioned traction get I those partners that or continue ecosystem partner starting in that countries expect probably the global developing the the of that, that where leaning youngest. we support as the I expertise consultants as many regions we well. over some next say to some far to in several are As of But the those and quarters of in partner some in

value in and Asia-Pacific, that are are it. to willing expand and and that So many are Americas getting our partners good performance, starting the seeing global Europe, of signs they in I in of we think to realize the

Peter Levine

you. Thank Great.

Operator

Next from Berg question with Scott comes Needham.

Scott Berg

and noise. Frank GXK mentioned and on have guess impressive ramped That’s that Dave. from background fully as me, the cases I for Hi, apologize once scale. will I a it’s quarter is next Congrats airport year. pretty the just Frank, you question the use XX one customer

be [inaudible] that platform your customer to-date? is talked You to-date this large how about your to is going largest or

Frank Calderoni

our necessarily not is it customer. largest Scott,

past of just are one and that quarter asked able I before. about distributed value That’s expand been time. to even jointly the And come and think aggressively, they have Honeycomb value. their they are to They what at continues the even them has so within I us because the came fastest to seeing Anaplan, it’s accelerate they they really video a word look that that that Honeycomb a with doing probably Their -- drive this to very organization talked they I I out recently can get getting further the I to that short work only even are about in so the to amount think that’s internally more helping not they the on Anaplan, creating GXK think this example. expansion. with from us

the -- we or ACV say million and see one that’s that you update will larger than I I a And average we I’d when before, think customers $X pretty ARR, in said also about those to addition. I impressive. as should top have examples Like about forward other that say, are increase. we think going XX that have We being on continue

Operator

with Shelby Seyrafi comes FBN Your from last question Securities.

line Your open. is

Shelby Seyrafi

very you much. Nice Thank quarter.

-- RPO gave secondly, guiding up that quarter. RPO a QX? said the XX% QX, are you you for the you in you prior don’t So you And the number in have high-XXs. mid-XXs believe revenue Do I a in in have growth number been for was but growing a the

am wondering rate? So growth the deceleration just in I why the

Dave Morton

sequential our and it’s quarter that the that is speaks But get just But QX offline can performance importantly, and obviously, Shelby, at last exact you more QX regards in practicality quarter what Again, the So, number, can and that we you QX. importantly our really saw the it’s ended strength remaining disclosed in so in We right will the just saw. a have respectively. we acceleration that there. just QX obligations be get prudence more QX guidance, over our Morton. matter we the Dave put in out to to over this of we that

levels respective sales Frank and this about we that so. RVP our bottoms-up with team. inspection, dashboard a And so have that’s spoke at our cockpit the level time, and done of deep provided so have with prudent we

Shelby Seyrafi

to Okay. rate? XX% impressed up ASP prior How that by growth quarters your compare does that I land was your year-to-year.

Dave Morton

the becoming over obviously, value Well, a as as many that multitude continue speaking again, you even across the we within assume can other the to at connect are so we level quadrants level, exact level bigger And the of is the lands overall year-over-year this bigger and we narrative different organizations. per at from approximately cases. than to increased use sell and so And and about are well. that from to se able sequential in, our higher past platform quarter, a recognized percentage so XX%, isn’t get

sell And so our nominal and that it’s which be land, lands continues which larger to just a able motion the in would specific about point across, were accelerate. dollars, on it’s yields ASP, multitude so not one to that

Frank Calderoni

see C-Suite of transformation, the working the some of this allowing years most great. about far on this I high transformation, expand to a case, land we and and at is type talking in or the higher which us a driving over digital Yeah. Selling which likely average as strategy. liked earlier, Dave yesterday and in map as multiple that the at expand organization be is, to and larger I what really about to fast some then mentioned get it were journey as what’s looking metrics with solidifies, it road the partner, moving is get

Shelby Seyrafi

Okay. Thanks.

Frank Calderoni

So, as talking continued your with support next to call joining thank and shareholders, quarter. as for our thank forward also our customers, our team again want partners look I our members wanted I for and we to to you everyone our well today.

Xperience Connected the to As Planning XXth we our in XXth June is Francisco Conference. mentioned, San

So, quarter. please Thanks next us and to again. join forward look

Operator

This concludes today’s conference call.

may You disconnect. now

Anaplan (PLAN) 28 May 192020 Q1 Earnings call transcript