Earnings call transcript Q4 2022

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Operator

Good day, and welcome to the LiveVox Fourth Quarter and Full Year 2022 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, today's event is being recorded.

I would now like to turn the conference over to Alexis Waadt, Vice President of Investor Relations. ahead. go Please

Alexis Waadt

thank on and and your today. Financial participation Clevenger, Good call you today me Officer. Chief and the Vice CEO; are With Executive afternoon, President for John Gregg DiLullo,

to projections Risk would I this risks forward-looking XXXX the projections including and Act reason, events, in during and any forward-looking expectations, could section meaning statements. started, get filings. SEC Factors such the call such that actual no future differ uncertainties. financial we like remind The Any Securities results the comments for statements including conference statements you forward-looking contain characterizations or to of Private of to the our without other are market conditions and of future update assumes expressed to statement any webcast of subject made that forward-looking LiveVox statement. within limitation, refers or Reform is Before Litigation materially those obligation those from in company's listed future

also is not future accordingly, not or discussed from a market independently was third-party makes has and company note or representation been respect no in of information sources on this derived verified, of Certain information and results. performance the guarantee that warranty Please conference this call past information.

call, Relations measure financial earnings on the each these GAAP available non-GAAP of found non-GAAP conference website, financial the Regulation of reconciliation directly release, investors.livevox.com. measures be the comparable press discuss this company will is in SEC measures During A as Investor defined which G. by can most the to

release Form available available on together with investors.livevox.com. XX-K call will company's materials our LiveVox's on replay website. the be website, be of will recorded this A also Investor Relations and earnings related

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

John DiLullo

call. Thanks, thanks everyone earnings quarterly to for Alexis, our joining and

rich a glean we broadly first quarter every QX It proud, pro forma public our most was a our extremely expectations profitable we you we which a or this As accomplishments afternoon, met track. nearly of EBITDA metric with earlier are press company. that that quarter had including release from completing exceeded can strong as notably on

customers, team. these like our LiveVox For I'd partners, the supportive thank Board Directors, and investors suppliers, especially to of achievements, our

moments, Gregg about a financial provide to guidance results share more In the and ahead. CFO, is you Clevenger, our with the going our for few current quarter details year and

observations that However, I like have we the I'd into share in few initiatives of the on place glimpse to momentum build put a time have recent we're brief experiencing. with to and today, the some positive of you a my into

company's trade first international hosted the I kick-off, user met met meeting every In of events, and annual many with and days with company, our my XXX the have in employees XXXX domestic group sales. of office, most show to our accounting customers and sales I for nearly half existing several nearly global and visited toured been with participated current a prospective investors. LiveVox

suitability me the listening that Contact their surrounding base unrivaled. is I to I help for help LiveVox business days customer populations. that leverage with improve and center lower their our LiveVox have technology of support our needs productivity, customers XXX be to the our and teams agent of solution to to helm from in loyalty more my costs, LiveVox and am reassured is our the first them ways when work-from-anywhere that excitement vibrant, at high, jointly the of especially have found customers. shared engage effusive products their to them

believe upon now interactions, the Based XXX% market. cloud in public largest customer we CCaaS the are we solution

with scalability They cost Zones reach enjoy AWS and magnitude deploy than omnichannel us solutions our any that that velocity nimbleness, innovate Web to AI-powered the Amazon they to competitors dollars. LiveVox has real-time capabilities ability us offer. precious cloud The is result unrivaled of solutions. Availability CapEx consumption-based orders XX better and for reporting, reliability the public a allowed enjoy Services, integrated to global As need with of enjoy customers lower of our potential an what partnership afford, our architecture AWS, and and without

many architectural our initiatives actionable of tenants allocate POLE, do we establish or we enacted scarce advantages, and can how is quickly expand. we plan we it easily the leverage Despite results, always KPIs, objectives, platform The four with and to we have how remembered a our how optimize, by mind and that collection these key how preserve, our reward better. resources, we core becoming is this aligning mnemonic, do, in is P-O-L-E, to to and company-wide And measure we everything team's team. comprising

to The quarter. executed the I'm last team proud preserve, quite first tenet, say handily

As delayed customers were mentioned XX, revenue and complete able committed were to filed approximately zero our disruption on in X-K in completed force projects we reduction manner or a in January minimized that the We XX%. to a of canceled. action this

well garnered Avaya we in reflected results, travel defining leisure vertical, our as and our vertical, company from displacement our API-based wins, distance virtually open billings ability the and displacement capabilities and As core did in pricing, to were competition. to that and a integrations better-than-expected us credit excess $XXX,XXX servicing cases, significant loans. collections including a consumption-based see several we credit $X student a usage In scale finance, in Alvaria our as ACV million management unlimited ACV both

of tenet is to our plan optimize. action second The

reduction earlier elements of mentioned that effort. this our force Of course, several I with helped in

of of managers' underutilized impact sales reduced increased Bangalore However, part we're roles; direct roles of several Medellin; concurrently lower we efforts. our as marketing many releveled of and reports; rightsized cost centers space; office materially in number moved more domestic lower and and restructuring, our to excellence our

accelerating durable Release our material efforts COGS releases our environment, customers the of form advances production We also expected and long-lasting made These migration toward provide older benefits of economic in reductions. of the to to cloud-based latest XX. platform are deprecating

to and channels of partnerships to plan tenet third to put another is way processes internal utilize efforts. streamline go-to-market in accelerate our our The action and better or leverage

very channels Our encouraging. of our in successes been to early the opening go-to-market aperture has include

initiated larger $XXX,XXX in by outbound will a transactions were ACV network, new solution union's in referral including a QX our win customer be agency and deployed of inbound of credit care regional Two complete auto for that of a logo center. our financing

Avaya largest QX, Vendor weeks, a Our In XX% And first with partner grew two member also recent than managed signed service value-added of became their us Jack usage in our and Integration more provider in resellers. QX. Program. an Henry's DevConnect we we

future and generation lead improve We meaningfully in will expect and efforts these that our combination together productivity collaboration in sales quarters.

our in strategic is expand. tenet initiative four-element last The

the are participate focus opportunities with quarter, of last shared in credit markets outside areas I finance, we which collections. As of and burgeoning historical our

to adoption the products care participate more certify mid-market exciting expansion customer of to offering our adapt consumption-based for in in use and and have grow to traditional opportunities segments segment, our and We sector, overseas, improve the products pricing options. flexible in to by government deployment

we progress it are many are making In in good Although markets. all ways, differentiators. the of QX results days, these is our a our in market's of competitive early acknowledgment celebration

and instant version features, XX higher reliability in Release we announce XX, happy that which storage a of AWS deliver front, compute Release Presence costs. live and product more our beta Dublin, lower of the released January, I'm Points our product first International of contact Ireland. the center will to flagship in includes On inbound

European reduce and to a XX that LiveVox, markets automated has In that text AI-powered exploit the segments summary integration speech notes the agent new addition to and improve clutter, that opening to help overseas. greatly WhatsApp, translations, Release desktop derived functionality popular will wrap-up several and from agent's very a call much-requested suggests UI/UX improvements support including with channel capabilities us a automatically dramatic typical expansive new also to special customer verticals, assist

to reimagine to www.livevox.com. this report our including In of like you the most made invite to arena, significant and visit a at website, progress the find that effort earlier in messaging that go-to-market our broader I'm new LiveVox which an appeal. brand will areas, excited the week critical launched so I'd to we've modernize it few to

report, time company's Frost Center the also Contact and we DMG Center Sullivan our in Center Cloud the Report. that positioned have history, to Landscape Aragon been I'm Cloud in most Contact Grid announce and included Survey, CCaaS the the pleased Contact first Intelligent well Forrester the recent & for

government known collections the LiveVox. vertical. that and consumer recent a in finance markets assistance rich credit markets programs forbearance, Normalization quite is forgiveness These tailwind programs. grow. LiveVox signs of months, well a long-term enjoys and It heritage during credit the in these continue the of cycle debt and an deferral as and to challenging In franchise lenders is became are sunset originations enacted potentially consumer for enviable seen we have payment early as improvement pandemic

business seen our macroeconomic increase not and to have included not has development a in been of we reacceleration as However, utilization outlook. owing yet, this in this meaningful XXXX

about Though XX uniquely beyond. unswerving At there five XXXX uncertainty much factors. that LiveVox, hold and to excited is fervently the promise to we three next great in LiveVox world. years the believe owing for we're economic

and environments. geographic to of operators distributed solutions work work is support hoc of and proclivity First, compelling from remote in ad the dispersal post-pandemic omnichannel increasing agents center contact anywhere to their cloud-based embrace

must of controlling costs crucial quickly Second, it contact solutions utilizing have technologies. is consumption-based IT center throughout becoming a deployment in by is the and especially

ramp center solutions to personnel that workloads increasing agents. the operators of shorten third, the new And automate AI-powered time of onboarding turnover contact and scarcity center contact and is seek driving

our form These is customer upon built. three success, loyal are Together and which with with enduring. macro our trends the foundation committed employees obsession powerful and LiveVox they

Clevenger, who will today. time Gregg through your for Gregg? again my Thanks CFO, numbers. pleasure to walk our now introduce us It's the

Gregg Clevenger

Thanks, everyone. John, and afternoon, good

I our the non-GAAP section reconciled want in our Relations all are prior website, to presentation financial call that in XX-K. a in remind our posted press you on release discuss just issued on today to call that and the this on figures Investor I

year, XXXX, a with fourth quarter metrics a end the before followed operating for the some off quarter XXXX. the start by guidance I'll key and on full for recap first year to very to of and moving solid

of range for $X.X $XX.X the $XX.X above guidance for guided was end was million. year which which revenue, revenue, million, fourth fourth being of the of XX% million was quarter This our was and our than end above by the fourth million. million continued which of of last X% at revenue high strengthened was quarter, million higher excess the $XX our year while of range to total year-over-year to our and of the contract than quarter $XX.X higher million, fourth of usage for range end $XX.X $X.X the our $XX the Our $X.X down high to higher million the quarter, and XX% guidance quarter in strength million last supported

at of guidance $XXX was for and to contract This XXXX revenue year of $XXX above the and $XXX.X $XXX.X than which end higher to full guidance revenue X% excess usage million. the the million and million higher comprised of year-over-year. our $XX.X range XXXX million, Total revenue million also XX% above of million, of $XXX end high was our XX% $XX.X the down was XXXX of than million, higher high our to $XX range of guidance end of of million although million, $XXX

ARR, rate the which for quarter rate services, revenue all was as the lower revenue to the total minus the reflecting XX% to with professional million, revenues, growth total quarter revenue fourth this for XXXX quarter in quarter our higher the annualized non-recurring in of of than relative growth the XXXX. non-recurring $XXX.X fourth $XXX.X is fourth million quarter compared higher such as

to strengthened as year additional versus XXX% retention relative add volumes existing last revenue to net XXX% and stabilized Our continue quarter, usage to products customers XXXX. XXX% and last

margin of adjusted guidance than was the higher for XXX fourth to increase XXX% basis of and drive an XX%, efficiencies Our platform versus quarter points as across scale. quarter as our public continue cloud we our we last XX.X%, gross cost

public the the XXX be since SaaS made We can by cloud our accomplishment quarter a financial last on year, this pure fourth significant a of running by that happen, gross operations that by a the have platform. teams testament leverage over adjusted increased business margin XXX% and basis to have achieved engineering and points

the million the about the and our negative all our sequentially was was a the quarter, EBITDA unanticipated was we to negative in EBITDA a provided of in positive million guidance of $XXX,XXX, this our million, Our related for of of to our in $XX.X $XX achieved $X expenses of adjusted That quarter positive above when initially $XX XQ. which guidance which million including brings which quarter increase year EBITDA the quarter, transition about of adjusted incurred million. $X to guided a adjusted incidentally EBITDA full CEO fourth for range loss an positive being achieving we adjusted

$X.XX diluted quarter earnings income march negative fourth both per versus the profitability. GAAP the basic of continuing quarter $X.XX Our share year, the in net to our a last steady negative basis and on GAAP for were

coming the Our XXXX, less the quarter for our for than CapEx which totaled was year full about to only XXXX $XX,XXX, XX% $XXX,XXX CapEx.

And cash and of quarter. lastly, million with about and use a cash marketable securities, equivalents during million debt and the year $XX ended the we of million $XX $X of

the about X% quarter particularly all in Our and at X% third from normal extremely throughout from headcount quarter slowed early of the end we and as year the at year-end was year, half only backfills the down third but reduced diligent of versus attrition, year. essentially otherwise our in the the XXX headcount hiring by second end in of last not the we're flat managing

XXX XXXX, the from coming XX churn new We that down over the with ended customers XXX adding the acquisitions. customer customers, at in from year largely logos were customers acquired course of XXXX end prior smaller with of

of customers to customers, the contributed the and platform of revenue user per the average larger coupled addition of last fourth XXXX our X% our of in fact, of quarter we year revenue of churn evident end with is smaller customers, of XXXX per the per about per added our year-over-year. The up the in year-over-year year, increase the average annualized that XX% $XXX,XXX of in customers In user customer the up churned. $XXX month, per monthly as ARR twice in

political of All of impact the and users revenue. excluding customers, measures these

And have customers customers. enterprise the more with we $X XX XX year build who we million in versus getting traction XXXX, than further finally, customers demonstrating last are larger

anticipated, preserve, expand, our for outlined and tenets the in up that us success Bookings and on move But will forward. were leverage initially we softer is for this in earlier, guidance reflected XXXX. we core XXXX revenue had than focusing we as optimize, believe set John

the that tepid maintaining However, year the sales same a our cycles environment, due anticipate of second general could macro discussed to rates change, half quarter, a combination sales of of in last be lengthening and concerns growth leadership we about as we the the challenging. pipeline growth

pivot let's looking guidance. forward to So,

increases to believe last we that on mentioned of more becoming on focus move the on individual usage call total I and more usage revenue customers contract As the is as the quarter, platform to excess revenue informative components it and our contract. less revenue, lock-in under

individual retention sharp this it XXX%, see metric in we the revenue the less providing guidance can more and difficult total on on guide mentioned individual in not Therefore, forward, You components as improvement net comprise that in I forecast and revenue happening up a quarter the going informative. the be and it. that only our earlier, to result, making components, will and to it's

informative quarter plan to believe do our going business. ARR we our we forward, each a However, is more provide which for metric

with first that, the I'll first start guidance. with revenue So, quarter

to first quarter X% XXXX. $XX $XX X% million, We to between over and growth of expect be first total revenue quarter million the

first to XX% trend we and continue quarter on year costs infrastructure. and fourth between adjusted be optimize to this by up the expect cloud for as margin XX%, this expect the to public and AWS to XX% the our our We in we quarter scale gross of

such expect and as the conference to is expenses burdened latter. quarter, year payroll operating the a $XXX,XXX, sales which the relative We than in in early the our $X fourth as of be are part by always the EBITDA additional our little to between and first annual quarter quarter the higher adjusted lower taxes,

and expect a mind to second previously, guided of seasonally the quarter. tend at first we quarter, in contract in that year we have and minimum the high the the positive impact always annual to to which flow $XX structuring cash building balance this million have of announced end And cash include we million. payment free be cash includes as we of bonuses Keep will of that that the on of in expect quarter utilization I've the thereafter, first vendor in $X.X renewals, cash January annual and about cash some

expect revenue full million, XXXX. the [XXXX] growth over of total for and X% $XXX to year year we X% be for between $XXX terms to (ph), our million guidance In

the the expect be trend adjusted and million fourth year, EBITDA by towards of our an with XX% $X We $X we adjusted to between fourth full our EBITDA the margin million and margin to gross in expect quarter for quarter. adjusted X%

With for that, operator, you please can line open the Q&A?

Operator

from [Operator go And Parker Please Stifel. first Lane ahead. Absolutely. question our today comes Instructions] at

Parker Lane

for Thanks Presence Curious anticipate that questions. channel-led opportunity? anticipate future, or opportunities, John, when congrats you international expansion does international in most of agency be the Thanks. on and or out company around will you taking the Yes. establishment Hi, of do Dublin. force guys. building release think the XX in the Points of about a the sales the

John DiLullo

believe mostly channels agencies Hey, and customers existing markets. lot those to a that are with thanks, Parker. we'll of to asking I that that start really participate being led us amplify in and that with on through

we'll types -- out So that be other very in building teams process. cautiously support and that's sales of

Parker Lane

Got the just out coming changes demand tough along to platform in new but the go-to-market Gregg, guidance a this a you during context the is it. year. there, obviously, lot nicely. then, and, And your of of Makes provided, environment Obviously, sense. logos XX

of the expect you acquisition would guide? we to understand trend usage-based the that how So, logo I new in context component. the think,

Gregg Clevenger

Yes.

partnerships, more be the softer It we we'd to terms pathway in up to John last if to are are international of didn't last in initiatives opening that, And, talks as -- think, expand we more and than know, in that going open like logos. new was year ways he new add I got the logos that did as think the last a than year more and of this various a new leverage about we this disappointed year year. little things all you have before, logos think, I than year. year aperture, talked we've and lot areas about

Parker Lane

guys. Great. Thanks. you see back, I'll

John DiLullo

Thank you.

Operator

our go next Funk Please today from And ahead. Bank question with America. comes of Michael

Michael Funk

the you Yes. questions. No, thank for

channel Just in using following up agencies, the your about about [indiscernible] should as that think ramp expense and the question affecting region? you how that we

John DiLullo

a add -- that work that from don't going is a when to but how I'll think John, a as that, like channels, Michael. lot that and of answer through on don't lot contra, and Gregg engage invest think careful of is meaningful I going you -- marketing. let expense that's I This I really go-to-market how expensive feet we and about we be be really, an to we're and perspective the in street of elements

Gregg Clevenger

Yes.

add that, we that think this. to did, the to loosened some to things in ability I like just we risk invest up

with expect to out lower these of force the a about we'll are we that, don't end do that to given year. in so guidance that working front we cost and on There's there markets. into it and leverage much go we've do lot the partners are excited the no, about So, out we sales us be direct can that a building for expect factored way that the costs

Michael Funk

I next the going for to thinking for the maybe growth And half annualized some I be in talk growth If challenging. Understood. growth you heard Okay. correctly, what the exiting guess, on the about you more I year? could second year, implies to be challenging call, details said the And maintain? that then, are if believe I heard that then, that in maintaining why

John DiLullo

Yes.

particularly softer last overall, conservative of we the And that of and little being the is had is than to we're terms think, we I to think growth out expected we're year-over-year guidance recovery providing usage what make latter for have. of conservative it. just it of what And would you. of that in in achievable year half I that the part bookings the provide that's set have and little that we part and is, lower a

Michael Funk

Okay. Thank time. the you so much for

John DiLullo

you. Yes, thank

Operator

Northland from Capital. And today [Vivek (ph) Please our Delaney] go ahead. next with question comes

Unidentified Analyst

couple me. a with questions of have I there. Hi

The first via upsells? percent bookings one is of came what

Gregg Clevenger

for but that, provide good a to the for actually that actually bookings don't bright customers, bookings spot us. was existing upsells, We

a that couple a do we amount that have As of existing the of you quarters big of had opportunity we of big and Obviously, lot new the kind the white part because we talked our a XX we was upsells. average particularly did had achieve in also. know, a within ago, our last revenue. bright that have pretty about logos new bookings logos spot reorienting We space of focus annual customers year. typically and tremendous But we in customers given uplift

John DiLullo

Vivek, the you think I And saw in NRR rate. that,

Unidentified Analyst

Yes. Yes. has And, my and second That AI? strong messaging how yes, been for makes is demand question sense.

John DiLullo

ask that I'm again? you can Vivek, sorry.

Unidentified Analyst

the How Yes. for messaging AI? been demand strong has and

John DiLullo

fit We're trying people's contact the It's on to and and learning, pretty agents. question, in that's area a great these of workloads have about systems, center, artificial intelligence, it excited the of machine agent automate minds a certainly days. to one deployment expert especially seems in perfect virtual

to conversation you I'll that So, suggest that happening the it into comments my content refer captures it much more prepared their to about agent agent I deposits back transcribes automatically, the making but the actually helps efficient. talked which instance, agent, for CRM, with agent, as assist, from different earlier. it's

you that I can -- type say, really of with functionality, only deploy with application You can only type of that AI. should do

things caller caller's if the that like in environment to is do thing happy understand other sentiment that we The sad. or

on so tech to And wonderful inbound an application that's side.

like we call to side, the do outbound out things customer the best call, next. which to On or time figuring

So, -- it's these are just beginning. the

in AWS, with days Verint, as We're AI not OpenAI I lot the talking building you goes. per understand partnering with just ton we're a think We've as have direction the but with we -- I of now. AI in even heavily of early came from with se partnering and technology, are AI very it's and that. Google, I I strategy to heavily. world point been a a very far

contact it's customers those So, for. We our tools. center the we timely, especially all shortage leverage asking of think That's agents. what plan to are very with

about. Thanks So, it's business an excited super question. the for the area we're of

Gregg Clevenger

add about lot talked if you upsells that, includes omnichannel, messaging. around a think messaging. our I are just of And which also to I Vivek,

expand uptake in new it our seeing a customers are a from messaging. suite, to also our messaging So, but is existing which we big includes through product existing for in logos, particular, omnichannel customers pull

Unidentified Analyst

All you. right. Thank

Gregg Clevenger

Thank you.

Operator

Thank Suisse. today you. go at Lee comes Credit from question Please next And Fred our ahead.

Fred Lee

customer afternoon, that was and prior my Thanks everybody. Hey, new you just you recognizing from mentioned for to good that you've With down the count the that question. because taking to added, regards they acquisitions. mentioned wondering added logos ARR, came

And we -- gone so, is if I there was cycle had through the come? more you churn entire that churn of had or the acquired? wondering finished through the there, base customer we to Are

John DiLullo

more We smaller some probably There's customers. come. have to do

we If of actually curve it's you kind But year, -- -- -- were of their our logos year. a -- them the is been take thing literally just put on platform, this in we XX new that in bell expect customers won't smaller but there churned, may some for is them tail installed twentieth huge. XX that the that a example month added, of pretty last forever. logos but we smallest out prior of are $XXX in that not some the year of customers just hundreds is that of the a dollars customers the like top that prior sold logos who There the added were have revenue so in added that

Fred Lee

[operators] question comment (ph) to earlier roles choose about made Okay. centers, And then, agents forcing in that leaving contact another AI. you on the their

rates XXs. been turnover always and has XXs contact center have in the risen? actually so, And Because, turnover

that there's if different market that's something wondering was in I more so, recent. is And today happening the

John DiLullo

roles, roles a fill you fill you -- generally Well pretty less what John. question. this there's consistent with just And a anecdotally And -- hear is what think, I'm they're great and is these I supply hard this saying of it's to some share is that's can from taking sharing what I've it's resumes. with only longer That's our to I and of we of and I heard. the what anecdotally with customers

Fred Lee

it to deteriorate you. sequentially And LiveVox question macro. regard December? just with for this Thank you. it has final quarter? through Okay. far Did trended one then, so how Thank And

John DiLullo

macroeconomic macro, The did led was markets, meaningfully to to in I environment credit finance our the was some more and feel and the my of deteriorated some we in QX. mentioned we strength in see started collections I comments, see, volumes don't What that part traditional and return quarter. in prepared of has what the

some for unemployment leisure lot there the if makes Generally give support a pressure contact finance, if are available could center that macro we be XXXX didn't as the speaking, resilient tailwind. healthcare. green jobs. but If see we're that this travel be a as is and into normalization of tailwind long-term of credit as sense, incorporate could certainly hoping, it ways, as In us -- we if we more and people if you do could shoots. guidance, I a to be economy of outlook, -- In do cycle, take the some not were the such downward consumer verticals we to there and on see some the

anything dramatically I mixed November. bag, but or it's change saw pretty don't in So, December a think we

on anything that? Gregg,

Gregg Clevenger

deterioration that there time that wouldn't period. over any I say was

Fred Lee

much. very you Thank Great.

John DiLullo

Fred. Thank you,

Operator

[Operator Our Fitzgerald. Cantor from comes Brett Knoblauch Please question Instructions] go ahead. with next

Brett Knoblauch

heard for heard Thanks expect you positive between I and that to The my I And correctly. guys. I says I X% expected for question. you make be full X%. like taking want sure Hi, adjusted to year say press X% feel the guys just to is X%. EBITDA release loss you

Gregg Clevenger

for or it was much Brett. it are is But furiously is absolutely It there, release now. and the rectified in apologize actually confusion press that the done being -- The it's is very mistake positive. correct. for a has guidance You positive EBITDA,

Brett Knoblauch

guys get like new are from guess, exiting for going retention as it. to customers, was you above think the you growth I the just your year the should exit makes bring year? they how contribution of bigger No, about Got to going Are back Is I maybe XXXX, half guess, XXX%? that story? to the stay I kind kind I expecting. growth of sense. guess And we what, of guiding

Gregg Clevenger

Yes.

The strengthen. likelihood retention, of terms retention than of strengthening likelihood going I of In the from here. greater is do that will down think

kind the we're historically, As and pandemic, the of ups pretty consistently been high-teens before and back you we've to of our at way working that. the very know, downs

kind as through. measure, for work of you it a a so So, it's takes it long-term time XX-month know. It's to measure,

that products that's And success have customers average mean, the have our customer, and expand. going We the existing about with talked we've I to our of up and from per base we past with expect continue -- from upsell. -- X.X customer. number to in of lot example, to year customer a products still the do this We just existing per opportunity for at of X.X we're before. number we're year,

So, is fraction But still for a continue of available have products customers. penetrate. that to we kind that we the of

a our -- left seat much lot all the can lines white less expand base. basis, into space a cases that of as get number of we we we additional I'm agents there's can just on So, across broader use sorry, that

Brett Knoblauch

you Got it. And it number trialling guess, a I I kind thought four was number. guess quarter But is don't... your a of number? retention XX-month I

Gregg Clevenger

the XX XX over It's months. months prior

Brett Knoblauch

months? months XX over prior the XX

Gregg Clevenger

Yes.

Brett Knoblauch

it. All you, Thank guys, right. very got Okay, much.

Gregg Clevenger

Thanks, Brett.

John DiLullo

Thank you.

Operator

ahead. Fish comes question go James today Sandler. And our at Please next Piper from

James Fish

questions. the for Thanks guys. Hey,

from, up, You about started indicators some business guys that to are in your of have being direction and kind help of the of Fed as lead collections mention delinquencies the well. which kind should the pointing

the of the growth contribution for get we versus then the the And relative underneath of for the but the broadly, high-single growth business? year? normally to the of do I you see given XXXX Just expecting can what kind guess not of did do what mid- in rest for digit vertical vertical you collections rate that to rest collection Gregg, are year? the collections update QX the guys the rate in this to maybe to annual for separate business, we

Gregg Clevenger

Yes.

So, revenue the to contribution of year the collections our for was XX%.

I year it think, before. XX% in was the

So, it as kind for as has collections you continue is a down been while. -- know, of flat, we

expect strong the collections to continue but staying continues bigger, it path that reflecting of it gets the -- to grow, that over as of business our in there time the where outside possibility, rest that, is we that's it's to a of space. a continue the If, a And so could decline be over the if year, increasing. that XX% contribution do of our course collections collection growth on rebound actually even is or opposed will

James Fish

All right.

XX% here. piece sorry, year-on-year mean, is disclosure. I about But unpacking the vertical was -- collection maybe again non-collection the XX% ARR numbers that I'm So, again. above the roughly Appreciate

about you I that's million. think that's And broader that Or experiencing the But the Is specifically falloff at greater growth engagement entering conservative? double-digit low your won't year usage reason we're closer to being ARR? side it the here. usage just ARR a in the or already on customer we kind right currently revenue you, with $XXX that is the get from way includes end that expecting get guide. the contracted ago. minority of as Gregg, of I that the why on here

Gregg Clevenger

Yes.

where from said much we a the of we I in strong is the achievable, guide and the past. excess think that conservative that, usage collections way, -- of as and terms piece or contribution about that we reflect does change talked in recovery another said, I have it not are a gave

that's factored yes, the into given. so, guide And we've all that

James Fish

guys. Thanks,

Gregg Clevenger

Thank James. you,

Operator

this conference And to gentlemen, team I'd like any back ladies management and the over final question-and-answer remarks. the for turn to concludes session. our

John DiLullo

the of quarter have thank possible, the I to and much, that this afternoon. make and a helped you thank and employees very wanted great to to you say all investors all

Operator

today's Thank attending all presentation. concludes you. call. gentlemen, Ladies you and We this conference thank today's for

day. now wonderful lines, disconnect may your You have a and

LiveVox (LVOX) 2 Mar 232022 Q4 Earnings call transcript