MNTV - Earnings call transcript Q1 2022

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Operator

Good afternoon. Thank you for attending today's Momentive Global Inc. Quarter One 2022 Earnings Call. My name is Amber, and I will be your moderator for today's call. All lines will be muted until the presentation portion of the call comes to an end. opportunity and an end. at be will for answers questions the There Instructions]. [Operator Relations pleasure I'll Fuges, host, Investor our now Vice Momentive. of of the have the handling conference over to President with Gary Gary, please proceed.

Gary Fuges

Earnings afternoon Good Momentive Quarter welcome Thank Call. you. and Global's to First XXXX

Joining remarks is; Lurie, letter we'll call questions. to Carr, call take CEO; on After Zander we today Coulombe, XXXX Relations financial commentary. QX our related are this press our shareholder and your with Justin CFO. the release issued and investor.momentive.ai. me Priyanka at on and Zander Investor COO, Justin's and website items a prepared Prior results These posted

future relating and from the of not course results which to and the A Securities and indication to and be an materially to the are our cash During may you the investments, the differ in is subject to Exchange statements risks with our operating revenue, reports our filings. section risks related Commission results flow. uncertainties annual call forward-looking strategy, Factors we particular and performance. management in reported should considered Actual filings quarterly in margin Risk business will these refer in make various of contained our results statements including this and predicted entitled discussion and uncertainties of

substitute our website. Zander. over the be our the measures Our turn release results A furnished discussion SEC With a X-K non-GAAP with today in that and our be or today considered should to found otherwise non-GAAP of addition will measures in shareholder and reconciliation IR These earnings financial I'll to on letter GAAP include with may as also for be non-GAAP and isolation found stated. may Zander? are GAAP in filed to our not unless results. from call which

Zander Lurie

for Thank XXXX. August first on earnings you, you and our us thank call Gary, joining all quarterly since

we changes the February letter. driving execution outlined substantial shareholder progress quarter strategic first and was all about in The on our

from negative financial channel addressing revenue end in the of the Revenue excess in our improved XXXX. the customers of Momentive self-serve on sales-assisted XX. our actively our repurchase We're QX results ranges. from we And shares quarter. a for headwinds channel. guidance transitory operating exceeded creating million grew our in value X.X through We're consecutive to year-over-year Our high fourth X% and profitability X% and XX% margin March Non-GAAP focused shareholders. for

in and We put place have increase the growth significantly conviction that plan profitability. we accelerate will

market work have But to massive. do. We our opportunity is

quarter. us market our Our at with strategy customers scale, time. and to expand over want where operating to getting And products hybrid every buy go them stronger is enabling are to meet they

breaking rate. Now increased consecutive a year-over-year reaching quarter, fourth here revenue QX bit revenue for and increase CARFAX, our plus growth. revenue Services. U.S. new Citizenship Ace customer in growth. and the like was Merck, of XXXX Immigration quarter million channel, a outpace year-over-year, Sales-assisted Bosch, Hardware, quarter our $XXX highlights. the our XX% QX more the revenue customers on Leading run adding We indicators count record plus year-over-year, XX% XX a sales-assisted percent

is foundation the Our logo for cycles new future efficient, conversations. helping high velocity team are and fast, sales The drive cost set growth. expansion deal substantial

both sales-assisted year year-over-year. multiple More we're customers than spending with customers products, larger per than addition, more using now metrics winning $XX,XXX and relationships. are significantly Momentive, increasing In customer X,XXX organizational plus are XXX

use industries for to what a various variety surveys product, we've delivers. cases. resonating sizes, core customers the is Our traditionally our flexibility all ease-of-use, platform value power of Customers as and of with that across referred

plus loved customer this our not product sales quarters in are excluding what we've has research our have insights significant cases. large referred panel them to grew comms, Friday. launch for on us newer expanded eight Wednesday was a which enablement, as insight time, Customers XXX And cases, the enabled It's multinational our and underpinned and traction. traditionally agricultural us with actionable XX respondents. seamless, into Similarly, and All solutions response core expanding global tells lightning why core straight of year-over-year getting Box for million isolated. to increased analysis market our a automated Marketing and presentation sizes complete company use for solutions. is Over product For velocity average running motion they're VP percent and customers, love automated high by internal research, QX. sales-assisted study HR, our at Stories including are gaining quality. a fast. a again by instance, that speed-to-insight, in XXXX analysis, multiple and Box of like the into The purchased a CX company SaaS marketing insight

solution productive solutions most and largest Our channel, to our self-serve model. insights subscription moves generate representatives. growth X% line expectations. that testing packaging of largest our QX sales with insight was QX customers, we'll deals, a revenue our in in In begin And our

factors As growth. for we're to our two guidance, reflected durable XXXX drive working in

our First, growth. led paid by price-to-value have teams users we've pricing evolution self-serve growth. users of beneficial free to so And user on sustainable the driving packaging our plans as driven for Doing These past single business three strategy, meaningful both plans from exceptional amending customers, user moving to and sales-assisted into next of users. over our years, we're and focused paid relationships. aligning we entitlements now overall base, for is the experiments on to focused actions graduate

brand, to a clearly attributes of of value the and the were successful. Second, tenant go-to-market communicate more we customers. our meaningfully We products to shifted new XXXX strategy launch focus our multi-channel key in momentum to

and our SurveyMonkey Operating transitory we're during are the and the less seeing in Priyanka distractions Chief plan Zendesk line renewal churn. by with we news, is period, rates Led them. which of Officer, However, Carr, threefold. the good addressing competitive not by expectations the on brand focused magnified The acquisition. supporting was that believe we're proposed evidence from We challenges are new

quality investments. of SEM on brand Further, First, through generate without SEO extending startups terms specifically days bidding our high brand and strategies, are traffic initiatives, our consequence by over. the content and leadership user new brand focus VC-backed

We ever. harder than swinging back are

sustainable value types, drive delivering users in the enhancements. offered package functionality high by targeted calibrating and certain features growth in Second,

reduce as product-led the an the friction benefit in we by indicators growth and will Third, improvements so and the customers that can customer simplifying set the value second channels company. products buying It's half our of growth a starting grew up year. believe onboarding leading in self-serve We adopt quickly. of process, realize achievable

to the a the place team leader plan. are market execute We on we here, and have in

product months, of acquisition. R&D The focus the We our thus organization, to outlined innovation. proposed in centralize centric changes our the a our year, reorganized far two and progress delayed opportunities. past roadmap given we compelling. have on which strong second the half shareholders, We're is in our of of pursued focused aggressively around customer prioritize contemplated but the of out last the strategy Over many gate were strategy letter February set

our and use on Our delivers use core It cases, cases product feeds intelligence features panel all across is our value of the and value provides sizes most. customers customers foundation. myriad respondents what for

our our maturity. capabilities strengthening on and offering analytics our foundational advancing focused are functionality, We extending admin

extends experience. for purpose brand built customer platform Our core as solutions and insights, markets well products to as

high executing expanding by our product, a existing progress overtime. deepening momentum velocity working innovation channel. moved to we’ve benefits fuel and to cases, strategy in our solutions sequentially seen total Chief a motions. to on a generated. surfaces two the hitting closer leading on capabilities expansion, selectively reinvigorate go-to-market products expansion and our We’ve simplifying Revenue Resources the in our increased efficient in returns as and go-to-market new significant position Ewell. solutions We’ve of our web seeing and both customer and to percentage get focus align Officer, And, success most Similarly, aligned analysis to SurveyMonkey. segments functionality of capabilities. to in profitable begun insights planning our our in our market, And,we’re our short brands: we’ve generating quickly bring we’re significantly execution. year-over-year, our and statistical existing business in Shorenstein are John QX, a sales-assisted one channel. our made Ken and in under We’re In use enhancing and Feedback’s Momentive the Officer, to plan new Customer core to of time in to on period early highest resources business self-serve and executing Chief Kudos

Finally, the are changes organizational made and leadership working. we

quality our higher streamlined Our center. organizational as reinforcing customers at focus leading structure execution, faster is and and team the to leadership, on

DNA. has and But been in team October? And those faced we history, focus know is our resilience global Have tested a our know our who is before. energy. with distraction resilience have. doubt since Our Without we executing

at in running committed review companies business financial if our focused, expanding now like and growth our be steam. our energized with to margins, rewards is and team Our environment call we and will full more all mission, I'll QX Justin deeply the over more to outlook. we'd a on And balanced results back who are turn chances. challenging macro a

Justin Coulombe

I'd congratulate answer She'll new portion her meeting to the Zander. as questions role of call. like Q&A Thanks to during Officer. today's in Zander And on join our Pri Operating Chief

and range. financial for was comparisons Now, all an Revenue above issued previously and increase relationship. channel outlook. our $XXX with our year-over-year. revenue expectations results and customers to compared for customers total more XXXX to QX million, Unless We the guidance X,XXX have approximately XX% our than line in year-over-year noted, revenue total XX% on QX sales-assisted a XX,XXX are sales-assisted added year otherwise of accounted year-over-year, XX% XX% now period. ago increased of in with and our

related QX. was year-over-year traction from X% to performance growth. And like and sum shared remained many rose the in SaaS commitments. XX% massive to which New larger in February. to XX% were we insight point account year-over-year. and headwinds winning Further multi partially its our $XXX.X by across We we increased And revenue XXXX, driven foreign with approximately backlog and we in revenue to customer recording one five with experienced exchange RPO, Revenue and that over rates strong deferred gross is to ramped XXX,XXX core product, deliver with core investment growth level since returns. rate become made reaching both expansion per solutions. early highest continues pursue quarters. our domain the working organizational net strong, in organizational sales dollar-based domain productivity remain product renewal obligations efficient metrics continued is grew of rates base growing million our Deferred XX% or headwind our XXX%. more customer approximately million year The and approximately especially levels beginning remaining and net $XXX.X QX Further, revenue within expansion late to executive self-serve expectations in FX line estimate is plus highest the a channel companies, retention drove to bookings other QX, across

the cash approximately million we've X% points of As QX Non-GAAP will QX largest track ago $X.X compared expenses to model. basis Cash this XXXX. million of QX. restructuring leverage the in expenses, related Both operating referenced X% noted. QX, will of restructuring to shared our $X.X approximately activities letter. used negative In all revenue improving period. the in On end to XXXX. year basis, and time. anticipate February $X closer in to year impact growth of milestone advisor we in be million. the by the operating margin business million expenses expanded the paying fees majority one XX%, from operating majority these legal recognized of our shareholder one-time $X XX be improved free of year-over-year, past, time revenue profitability. recognized the over We of negative expenses anticipate this customer Once we QX a margin expense flow QX Non-GAAP of our lines transaction employee expenses the also end of strategic demonstrating retention was by was a transaction of QX we and In annual will We by reflect expenses functional growth a bonuses in deferred we percentage we lap and to the recognize performance was QX. recognized bonuses. RPO the by of Net previously and anticipate Starting changes gross to related fees, namely in of year, deal multi portion signed in

As $XXX million announced repurchase program. share part previously of our

stock of Momentive March of price As million million $XX.XX at an approximately repurchased share. shares we XX, of XX representing per average X.X

to equivalents As our cash part outlook. sheet. and million. we and quarter of reduced on approximately by debt in million ended providing program, the also with full $XXX our balance XX guidance. Today the Turned year the We QX we're

be $XXX $XXX million For to QX, million. approximately to we revenue expect

to operating non-GAAP be expect margin We approximately X%. to X%

to sales non-GAAP and be margin reminder, tends based in QX our operating and a on and in investment As marketing lower pattern seasonal QX, R&D.

year For similar we acceleration million and million. implying QX, of year-over-year in approximately XXXX, rates year-over-year growth the to revenue revenue $XXX modest $XXX QX. We'll full QX growth revenue expect for anticipate

As is impact transparency projects in from recognized of previously basis the past, insight of are through research XXXX. referred completed remainder linearity the noted market the and consumption our to to trends. growth revenue as as we've revenue dynamic continue can on a quarter-to-quarter provide We'll into this solutions,

the XXXX. dynamics, the of We year-over-year be Zander expect will channels will previously single growth year. sales-assisted low for XXs the channel in for discussed revenue with the rate the reflect growth remainder Self-serve revenue digit

operating a second X% margin profile acceleration operating in margin half. approximately XXXX gross and We of which expect non-GAAP consistent X%, year the assumes to leverage full

exit double expect operating margin low digits. the with to in XXXX, We

align We we $XX rigor strategic rates outlook will transaction foreign expenses which million, assumptions to growth were includes We areas XXXX with of but cash to the and potential a and in in accordingly. material XXXX. expect in It accrued portion assumptions restructuring one result we've saying, focus which execution. and a and targeted And necessitate changes highest outflows related update of with guidance. free on widely about goes and was in all in the conditions way, full cash expenses, move our XXXX, amend resources $XX should made million flow year make accepted time exchange profile. million of approximately QX of without approximately $XX in return that business operating our speed to the we'll our those impact

the for of build in You XXXX, foundation sales-assisted durable see coupled discipline our with we'll and profitable and results. the shoots The the channel same margins. operating can green lay on remainder growth expanding

and shareholders. model forward upcoming and operating Zander. on future. focused announcing on our remain Rule committed path to near further for the date to we driving turn refreshed a value XX. plan at the I'll to including term Day, always, As updating the We our of look call Investor now in achieving to We long back

Zander Lurie

you, Thank Justin.

which impact and or report areas, share your is against like Impact a In we work take environmental, social the The strategy ESG. update in our Social quick on last our Report, executed just provide governance XXXX we on and Before questions, I'd year. our to showcases how wanted and environmental issues website available we social social our I highlights. to some quick published

We are a diverse and recruiting, and with through culture employee training. shaping hiring unique equity inclusion diversity,

our workplace. to parity continue our We goal in towards to move gender achieve XXXX

of a which strategy. completion We the more as analysis, with are greenhouse footprint emissions goals our shaping gas our and first benchmark the sustainable serve will future for fall business

impact and and equitable Finally, we to are minimizing for promoting communities communities high opportunities our marginalized helping by value and access the on development career education shape resilient and environment.

proposal out the XXXX of directors classified our And phase believes stockholders our our proxy statement a re-election for recommends, submitted board beginning we stand approved, at Board customers, annual and will all meeting. meeting employees Board provide policies. remain governance, for to declassification shareholders will implementing which annual to and Regarding Directors. The annually of support. initiatives I'd our continued benefit to like in active all a thank for with role shaping corporate the more our their for stockholders our committed stakeholders. governance ESG and our energy We and

And with XXXX. you. discipline show that questions. durable sprinting We alacrity block we're now Operator, take growth position the for with your of results are the to expanding business Thank we'll margins. moving in QX out and more

Operator

question Truist. Instructions] Youssef first Our comes with from [Operator Squali Of course, thank you.

is your now open. line Youssef,

Youssef Squali

of very great. well. with Hope Thank Hi, is starting guys. you A Hi, you all Zander. for much. couple questions Maybe me.

year the of historically, year, for flush business that On double your XX% But into deferred you more I shouldn't self-serve you maybe Is guide Justin that product the And launching back faster revenues just about business last how your the new little on on, for just growth? gives plus second can think was to last say side, could business that can get working in features, on reasonable confidence And XXXX? the bit then, maybe half planning help us a you get to Maybe of of year. year historically. you year. improvements that that expect sales-assisted level for a you're XX% the growing out much digits. were up comments us the there? the I for

Your RPOs were up XX%.

three just next that growth the percent do XX So how you. the plus Thank you quarters? over maintain

Zander Lurie

Youssef, thanks the question. for

a long for time. us followed You've

business mature single and business one today it's XXs. you've mid this seen So sales-assisted percentage, from in a digit the our where was

XX today rate so, sales the be motion. of self-serve. we which I our that have you business, product a over couldn't where proud more But we where And that million plus year motion. put we tailwind, challenges market just continues, terms maintaining percent will approaching overall sales time you are rate two as up growth $XXX and I some that on durable our that fit of velocity rate had sales-assisted challenges run and had on excellent that really on drives growth And company in rates. scaling real growth have back or

that look let's at last so happened back in year And were year. XX-year events. what events Two once last

to a leads channel. we a from double up Zendesk. First company October SurveyMonkey website, to sell on company driving sales the major to portion XX, is digit the of on stand announcement new of a which the our course, the to did then, rebrand Momentive now of And

some both would what behind which and Pri an us a channel. from her traffic, needs deal, little attention velocity us, our which navigation better believe SEO factors are critical. focused Today team And are working improving with self-serve flows, I'll on some now our in laser the of then, say brightest customers. and more so, responsive on behind is packaging, areas we're ask to to about we awareness is well and understatement. the think a we and away and couple to talk rebrand that to And on, obviously of doing we drive that bit later SEM is be that And really which had we the major pulling best

Priyanka Carr

Thanks for that Zander.

right. and funnel, very diagnosis of there's overall. then gotten just have our the the done customers weeds back not. start those retain really we on of of conversion, self-serve. And going So we've couple to we basics the to at and a Definitely, funnel, what's We last what's working over top the months a and

is Youssef, don't That competitive we loss is our conversion strong. have tells our us retention strong, that a problem.

of market strong some have we of is put weakness area we top a and successful. of honed top same lot funnel, new we And efforts Here effort alluded of our well that where launching We're the brand effort that was already. funnel. the The back -- and which underway we've putting we have Zander of into product a our that brand reinvigorating fit. and the are seen SurveyMonkey to, in drivers those took that on into

stance brand backs. we're And on On on more we on stronger over this ranking. we're brand, for website, the equation and product increasing We're you into watching optimizing our for for not the path. brand easier being product for we're competitive of traffic. put are conquesting more if more on to in year align have Product see our of a our gives us to bid stance, campaigns harden here. our to share Momentive, strong to the months. and up course our SEO our less SEM, side more So were terms out seen flows there. our content customers launching SurveyMonkey we optimizations. last SEO competitors These discover change That launching release much SEO, and but just taking few that on our such taking drive packages value On pull overall. competitive And and with aggressive you're coverage will effect example, SurveyMonkey. have you'll capabilities conversion, as leading our position it make On over taking features launch for the market a also

to would them today. time But be over call and they're revenue. that I So, seeing green reflected them going harden shoots in you're

Zander Lurie

second I'll Youssef, there. your take question

that past they now are the channels we've I the really are they're the scale. together, thing seen So go-to-market at think the and of two have over complementary, we operating course working good quarters, two

And so said differently.

they to remaining self-serve are Our what channel we're Much XXs. relationships, teams to customers user conviction already of attract which then gives starting product moving to see. is sales to in way an the a single from that relationships. great And is And sales-assisted efficient in to multi me high in way.

this For incredibly renewal rates strong. are year,

is quarters motion the Our the about on course and expansion They're talked we of productivity. we've working. over And growth. XX% seen of AEs, years highest to the as productivity focused our past at drive in that really them level we've six year-over-year

lot confidence. a us a of good us So, They indicators give give of there. lot

Youssef Squali

That's great color. all. Thank you

Operator

Thank you, Youssef.

now open. Our comes MacDonald line Ryan, Ryan next Needham. from is question your from

Ryan MacDonald

And Hi. lot And in sales-assisted clicking the Thanks quarter ads. my commentary customer about around you seen of double and strong Justin, sort quarter really the We've of momentum first nice previous there. a velocity terms channel a here. a of talk there congrats for new taking on the channel. on fourth quarter sort questions. Maybe high

we'll more to start seen Thanks. love then on expansion, through quarters declines, ARPU that? half some product we and how XXXX, sales? customer. sort due multi the start nature conversion What when timeframe as look start into color of the accelerated to couple into channel of likely there? the of back of we high some should And of to that flowing to the driving last to of then, that we've we see XXXX But As the think the sort to do out about volatility

Zander Lurie

with let Hey, then off And throw I'll me to Justin. Ryan, Zander. it it kick

in the point our ability AE and productivity attainment, sales finance pretty to would point you team of helping to them off, I team monitor has Justin the good quota in ads kind that productivity where Remember, First number of driving show a customer ROI. they're an to area of group. sales-assisted

not out on one I are. XX,XXX is customers that of market numbers the reflect you averages, our signing So how sales it's point of doesn't those ARPU we as kind our where belong and up also it up they're tyranny team really multi-product is larger of productive there the customers now product huge moving the expansion. pursuing deals. over to would growth number XXXX, of seeing that -- year-over-year We're web.

about So we That's win. customers kind a profitable huge customers. Those are multi-product wildly talked net of revenue XXX where we drive that retention.

So job team's if products see the the might delivering better free Pri, enterprise up you they you'll multi-product and driving and I market the Justin listen doing are think users product, who products, seeds, us to the to research to panel, SurveyMonkey coming value our that in profitable wherever to customers, paid of are. but use a mean customers And customer.

market because So massive And it's percent run are products this our we is better market, sustainable, fit. $XXX approaching, million rate our that have sales XX a CS firing. growth never plus product teams really revenue believe seeing we're had and

So a company. environment kind very for signals a distracting choppy the of lot of through good

Justin Coulombe

expanded customers our our to customer, I Yes, that. cycles. But Ryan. our velocity we are I had level three of go quarters, three revenue When into on will average a puts one from here it quarters, we've define how pieces Whether can per the because revenue ever efficient. you six our in Number sales underneath sales-assisted of per you color when company we two we look color It high signals perspective. pipeline quarters, average velocity we customers stats quick at And give sales-assisted where look is happening that high quarters, at I it one, channel, -- pieces they of what's actually And is highly you. there. would if a motion, highest eight couple expand of exclude them. and add are customer our from those that love

then there. up at is low high to product previously motion continued getting velocity eight exclude is And quarters and core product us heavy So, that very and Again, a you that surveys. that in is row for to when that look the in has march up a when referred a up you now. for will acquisition team velocity as the be

seeing generating are sales significant about a our highly funnel all we durable, motion. base it's into So, traction, profitable,

Ryan MacDonald

initial margins, go That's very then, appreciate operating helpful. one for and just XXXX first on, maybe leverage there. outlook into And some you year. half the nice the back I impressive the on more as the color of

You're go-to-market given get we of of sort Thanks. there and on product to should the making you incremental in areas focus where focus key the think the some the How look the leverage motion. about backend? we the can as into adjustments you're model

Zander Lurie

It's a good question, Ryan.

to conviction line improvement about So that percentage of functional we and return. focus drive we When going will revenue year the opportunities all see a and across are items. on higher as think it, this is about all

areas in putting I in a addition that then, being of And lot also durable into headcount the that, drive drive it's productive to are leverage what would the is that that we're lot come the say very on That's whether down where the motions. place market forward. the of to because but to and headcount, from not we is that where disciplined operating doubling go-to- from. her market we're areas will pursuing. sales-assisted and roadmap growth seeing where growth, departments strong are focused So and of signal will marketing we going Pri highly only we organization going and what Or we're rigor ensure seeing place

we're So focused. that's where

Ryan MacDonald

Excellent. I appreciate again. Thanks color. the

Operator

Ryan. you, Thank

now Our next question with Fitzgerald Brian line from open. comes your is Wells Fargo. Brian,

Brian Fitzgerald

how free go you again, And context, users you're paid for of self-serve questions changes when levers do different when things growth that going about we product to copying conversion? wondering, some the And just you opportunity are at looking free a think have forward? there couple through on Thank you. of it the What the Europe. maybe channel, maybe from harvesting made? you then, couple of A to was much a that from now back XXXX,

near on term. more trends Takamine lower I we think to had a was couple Europe of traffic reads reopening. in talking

wondering of in CX that in if reduced of you're in regionally, seeing terms business urgency reduced DS? participate propensity the Just around to some any audience

Zander Lurie

the Brian, Hey, question. thanks for

been First, address from I've just let getting other Europe. anecdotes cetera. me CEOs, et

We percentage business, seeing very our team the not remain highly Russia in team, obviously competent challenges we very, of have biggest obviously, sales piece business and our good a the productive there. products. business and It's are they're of not Europe, Belarus selling small macro but in

to and on expanding bit content. the is are more on ask we're and much rich I'll some put bidding market on So in in of And us ankle flows, from customers. proposition really think shipping of self-serve. of not value Again, the Europe. taken We it has of me sales Pri Pri know, perspective. our the role of think elaborate our took we back for product I a motion, our to But against that and more that, SEO out brand in so terms. the putting accountability user the core than principles our there first to will in proud this an today. weakness value I say, I anybody the we're off do terms in navigation, signaling which eye base And that momentous you site, business biters plenty to then us in delivering plays getting and more fit the opportunities focus the are what

that sales-assisted do things a and course, our users, we users, the of to that to expand value free we've And drive of got paid are to user to they teams. the all to so, market to. And deliver from cohorts, Justin going motion the handful base, alluded that more of

in But a getting for the We we've created been basis. category. back business to this of XX years. it's So, bit the little

are the And how solve. these We market to are we problems know leader.

Brian Fitzgerald

Appreciated. Thanks.

Priyanka Carr

of Brian, can I just add a couple points.

of phase more You're of of tactics our best fair it of sits conversion. then to a of one did from value our more sales-assisted And I've right, is of our that improvement And the engaged user us in drive have those our why the same we conversion growth. can amount conversion that healthy at also getting channel. the very a to we strategy next overall. base to very, that's paid seen our even into free products confidence getting tailwinds users conversion gives level, apply And we now back

on So drive forward. user our user focused to the our heavily growth is as paid us next growth phase engaged

Justin Coulombe

add thing Europe. I just And environment. Europe foreign Brian. seeing agree inflation and would piece, the part we're that's the said. I part interest rate real only with Yes, of that is headwinds. It's And as also on business everything The that Zander the impact on the exchange any place

like company reported given So us pretty a us. every that's headwind, other much before that's

Brian Fitzgerald

guys. Appreciate, Thanks. Awesome.

Operator

Brian. you, Thank

Mattiacci next Nick line comes open. now Our your Craig-Hallum. from with question Nick, is

Nick Mattiacci

Thanks This Nick for for on Hi. Bennett. is our taking Chad questions.

next of to First, are update can mix, few focus growing relative then businesses is over second, today already executing market on terms guess committee, are curious lines you the other ongoing give place, product And than is and those and growth? in the in and overall the research if strategic strategic us the quarters? how enterprise I revenue on CX directionally the the an on big maybe is where still how I'm review plan

Zander Lurie

Nick. Sure,

any disclosure the directionally. we we In incremental tell of size have about the terms don't those businesses, today can multi-product you of have, I lineup,

Our Product last awesome. of team market couple research the the reason on Fit of fire. over sitting Pri the led that she's bigger in co-chair years had Market business part as is is today.

with are the seen all cohort. panel broad the enabling to us that. against to a win of have Box with the evaluate to who States. able We customers We've they a United now built solutions great commercial, massive, great you came campaigns, had is a have were liquid products. expand a to most in bunch speed of multiple test And really different their top on value like to We us might which we buying of clickup, Superbowl our just

the we world market. have going trying with a after. In who product love more in fit. great parts compete product more think of not of the So market we're service and It's products. consuming more the to the the CX, time we up fit we've modalities intensive, biggest got expensive, market market We're move

selling have who a need in to see really big instance we feedback. folks So salesforce digital value who or product

can highly, Momentive, committee, the point SurveyMonkey potential which strategic to just we that. then accountable stood the They management had CX, query see to see our expansion delivering who last up on obviously board as really core team remains product fiduciaries That And Board around does in committee have we and deal the Directors. the inbounding led just highly sit was terminated suite. to very year the So offering closer committee to shareholder focused a business. you you the to the board Zendesk of set on website, I'll on are of of deal. the moving achieve capable our That and to the interest value the assess the you'll and assess in to highly February was any that is available

Nick Mattiacci

you. it. Got Thank

Operator

Nick. Thank you,

question comes open. Parker, Parker -- our final from line next comes your Lane is question with from Stifel. now Our

Unidentified Analyst

to much you sales-assisted Hi, by in? overall. the specific Is channel success [Indiscernible] pretty in movement it particularly any about success it's seeing is the industry? industries just the want Parker. and across on enterprise start the are thinking for Or board? I What it

Zander Lurie

If you big one industry companies. within product are core every function we only every we not that offering, every every continent, serving it's serving are look those of at our so on but

educational institutions in And companies product between. from small so sales everything to nonprofits. and to HR out businesses, of everywhere success it's multinational it's and and It's

where built sink expand Pri purpose IT really products On research the seeing are done we've big problems, and Tech, our where we're Finserve, the with market In and how. in there What solutions, insight offering in that's particular really of and solutions CPG, market some [ph]. is CX budgets we're up and success products, articulate to buyers

Priyanka Carr

those which point. people time. less on about industries, gives way problems. elaborating And more to span use problems cases The load I'm and it of think huge that lot Yes. access about trying solve these are a I industry where particular to is us

problems build a my great that's want the for really brand to to we use I are I my want what about solutions they are want product. and cases market. in our the use as concentration learn we're laid that these and about the to the every build think like So up say top more case just customer I to Zander are is have those and compelling. industries in pretty much is in the And our on problems personas if out, but industry. seeing solutions market focus strong solving. I And

Zander Lurie

seeing service at a million customer, love football, $XXX customer expand survey companies single I which just to like started with improvements, looking to a experience from product, raise everything pricing, product SurveyMonkey their one scaled enterprise growth. dramatically became their

products with growth to better to how using companies product, strong terrific experience to their understand a really seeing rewarding. deliver our is So stakeholders

Unidentified Analyst

out you're Got more product kind is Market it. And then as topic. Can testing you said, of just and about more research the a for we the product that moving what one from mean staying subscription and that for model the just bundling of it. now on on of away can fire, how talk future model you maybe and expect same consumption? may type

Justin Coulombe

Thanks for Yes, the question. absolutely.

we've number thing what product nice scale number this been or about for the use the been we've now. now moving cases. at longitudinal So of What the research a space we more of is, in with call a towards market solutions years

you years, the a like that we subscriptions. also is to period tracker, framework. time, series that market of the a do want and more of areas quarters, for months, a So brand towards seen moving more continue the subscription have instance, to also where track market we've over way is What to over want is

of testing will model the subscription in go So that go the We'll get thinking into year. we're as this our we likely packaging, perspective, end are we updating we of the a and a push for way into beginning very it quarter. year proportion as just in of the of about next spot about And as we'll we from subscription that revenue. then, total And research headwind business we a coming revenue market and be a the think it's but better being on back from model size slight our point. that, much not the customers significant revenue at given as a this

Unidentified Analyst

Awesome. Thanks.

Operator

to you, for closing back Thank session. pass Q&A remarks. the will now today's Parker. over This I conference Laurie concludes Zander

Zander Lurie

strategic today. Thank to you months employee distraction. after for their all plan execution the base for joining on many commend our I want focused us of

in will revenue said, of model focus reacceleration advantage this Justin As which margins, real year competitive deliver a this that a rigor for and late level on company. expanding and the is

built will have set terrific it brands a products and execution off. pay We and of

we what the here company the chip think back a to collective we success deliver the we're I that's know to shoulder can has to do. what get on and

questions and your and for So we'll night. update you quarterly Have future a thank you in to support. calls your look forward great

Operator

One your Incorporated earnings Momentive today's disconnect call. Quarter may XXXX you Global Thank participation for You concludes your now line. That

Momentive Global (MNTV) 5 May 222022 Q1 Earnings call transcript