Earnings call transcript Q1 2024

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Thank you for standing by, and welcome to the ZeroFox Fiscal First Quarter 2024 Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. And as a reminder, today's call is being recorded.

I would now like to turn the conference over to Todd Weller, Vice President of Investor Relations for ZeroFox. ahead. go Please

Todd Weller

morning, to Good results. you joining for Thanks, ZeroFox's and fiscal today review financial first us operator. thank quarter XXXX

With and today Executive me call our on Chief Founder, are Officer Bender, Tim Foster, Chairman; our CFO. and the

to Relations have as our website. information everyone financial announcement. found be as earnings access now, This our By on supplemental may should announcement well our Investor

related me expected progress to future achieving forward-looking from a this begin, variety of profitability, let cybersecurity, statements remind to guarantees subject our statements and IDX statements These and of call, the are of are we we not external make benefits LookingGlass. risks acquisitions you uncertainties. results, rather Before but will performance, our financial of during and course including in growth to anticipated that opportunities our

Our differ actual forward-looking reflected statements. in expectations any from results materially could

them. no we today publicly update Forward-looking today, of statements to revise and as made our obligation to expectations speak undertake only or

material factors important For Risk of and results, our release. and well sections refer and as to website the EDGAR our factors our earnings important affect the system SEC a actual of SEC's the other that Factors available the could discussed as on today's please discussion risks filings risks other

portion Additionally, most Relations their the of call. be GAAP to our tables reconciliation non-GAAP financial for these and discussed comparable to measures Investor measures website conference Please financial in release refer will on this the our of directly earnings measure. a

turn CEO, Foster. like I'd our to that, call the to over With

James Foster

excited to everyone. really today. to Good morning, Todd. Thanks, speak I am you

busy high proud able continued for accomplish what ZeroFox. with guidance fiscal I'm our team QX very environment strong the quarter a to end start of got ZeroFox the to given macro a range. year revenue our the and of uncertain was to exceeding off

we with completed RSA new QX, launched an and our of LookingGlass. at security Google our model capabilities the sales hosted partnership company kickoffs, language In exciting conference, we large Cloud, and announced acquisition our

I'm and few demand summaries you to our platform. provide on our of our we performance vision. going continued continuing begin, and of for provide see we'll a cybersecurity Today, external the results overview with To QX key areas an

wins customers of Second, cross-selling success, we'll continued which our LookingGlass, about customer of multiple key and through large And platform third, talk enterprise demonstrate platform adding both that our our and Google capabilities. with some acquisition recent pillars. walk strengthen our I'll Cloud partnership

year. with We the million, We which had of nice quarter ARR a very start represents $XXX to the year-over-year growth. ended XX%

for we demand total quarter healthy than $XXX,XXX growth year-over-year the platform from customers new external saw record quarter also ended large deals recurring And per ARR see and existing with we with subscription in customers. where continue in customers another We both continued to saw XX% X,XXX subscription Overall, with cybersecurity we for strength our year. greater lastly, our customers.

and environment stable industry, prior of that with our demand remaining category thus consistent our macro to to quarters and, QX the was The of attribute We go-to-market the external than is the experience resiliency execution. the nature environment. emerging cybersecurity this far, more

cyber for the increase world around external sophistication The attack to the volume are security organizations continues challenge seeing. we due and to

attack not its company with sheer have fact continues the see attack attack and phishing struggling the organizations and, I for impersonations thus, security of this external surface attacks, account traditional surface in including increase. overall finally, attack And volume. Specifically, surface, and takeovers said, into visibility that again, automation are that increasing limited external we by protected like are controls. threats organizations every These to it's

analytics, fuses a a driving platform-based preference the of aligns the intelligence, our finally masses solve external and which for the security cybersecurity in protection challenges; cybersecurity for external and that clear cyber AI-powered dawn with result automated vision cyber organizations artificial ZeroFox advanced intelligence analysis, external well platform, is is investment The This are the to here. approach. increasing solutions with together

robust AI where has and to been a inception, over property patents program innovation a critical and issued XX component of intellectual at already ZeroFox our have date. platform we since

used For advanced example, sophisticated languages sentiment, computer media high-rich like within we natural vision A images threats in identify to detect have computer and video. of identify language or and long of threats. capabilities using NLP to vision and processing couple hidden examples to and leveraging content written AI

for launched doubt no this models AI which and in is and our program, platform. language to like workflows we material and the is model analysis language industry. trend, that across in FoxGPT our FoxGPT significant large generative advancement optimizes large large on threat the sets. new There recent accelerating analyst a deploy impacts program will I security of have our begun QX, said, where data by we a upon summarization intelligence advancements have into cybersecurity Extending

more defenders, And AI saves critical and respond operations increasing key disrupt shrink. it threats automation, the efficiency even to it be leveraging with will AI them reducing For the to of and security that to attacks. means to continues time. and becomes time to time to ZeroFox the detect respond

honestly, customers. track makes back easier on can easier to them. written that phishing, ChatGPT a makes attack. so have always for adversaries it They like life continue our we areas we develop fraud, social our will and now we in to engineering threats spam. create can it done, behalf of adversaries, more For sophisticated Like Quite much fight

like customer a wins strength couple that market of Now, position. and the key our platform believe we of highlight validate leadership I'd to

fraud, service and customer managed invested in monitoring provider. quickly protection and media our media was on-demand displaced and One a investigations digital we customer piracy. protect six-figure to executives of and This accounts web from products. The our across a also They platform. our because ability multiple was competitive of scams a capabilities continuous to win of ZeroFox's legacy intelligence, ZeroFox hundreds selected protection comprehensive operationalize company. pillars, including a social where Fortune impersonations, risk and platform brands, was dark these wins looking XXX deal This with

relentless into six-figure were was Another environment their win platform Fortune actionable This experiencing, our XXX key pillars. seamlessly in and intelligence real with given company. of a estate invested protection they attacks a they external integrate all to across customer the wanted threat deal

ago, includes capabilities, demand response customers. of all we areas on-demand we brief response, strategic launched quarters engaged and capabilities. platform actively Two across strong response on-demand which QX, incident on-demand experienced our approximately intelligence and with ZeroFox X,XXX In we these were

Additionally, of heavily we multiple towards large the end deals more the that had were weighted quarter. response

revenue timing And demand furthermore, shortly, our are strong us we of for confidence capabilities we the continues deals in the QX more services of to detail discuss impacted set performance our these in QX. these year guidance. overall as believe for a While response will slightly Tim fiscal revenue, give up

driving progress Response pillars. ZeroFox other In synergies QX, between and we platform further our made

intelligence engaged on-demand For urgent the and incident positive an serves response customer with medical digital able and requirement immediate Response, had the We influencer while protect multiple assets. example, platform customer to brands technology to global company six-figure and signing ZeroFox with customer the a demonstrate value for as a were the on opportunity, services. which deal platform to a

and a also able Disruption. a large While were data cross-sell Protection response, we engaged ZeroFox to them for restaurant breach company with

In engaged represented And ZeroFox company breach last figure quarter-over-quarter. Xx media and which QX, over ZeroFox signed for response quarter, customer, their that deal the Fortune technology on-demand in Response six talked we we with a XX this incumbent with Response their time first a about investment a provider. legacy increase

customers. meaningful Overall, cybersecurity am progress platform ally I expanding with our true the become a our for our and pleased of ability to

for opportunities looking are our to customers Our platform. consolidate on

partnership our LookingGlass. shift value capabilities QX: Let's attention second, Google Both our acquisition and expand recent announcements two to first, the with these our made platform to we Cloud; of increase our customers. in and of

with announced service Google. billion partner our to the Web Service. and improves the further market-leading ZeroFox where capabilities Google protects our end Cloud and strengthens partnership integrate intelligence attacks. with across Cloud, capabilities devices we malicious April, was users first Risk disruption targeted our This This Google our partnership relationship and external from URLs with protection X In enterprise

and We accelerates believe intelligence. a our management, cyber attack security. surface also our acquisition LookingGlass, external external roadmap acquisition strategic This platform management vulnerability we service that area an external to leader and in is of announced attack

asset powerful of type surface into LookingGlass provide platform data our also will provides assets ability attack accelerate comprehensive location. us lake. regardless capabilities our to and these technology, Internet-facing Integrating Internet its or including all complete with across visibility

the technology being our battle and is used public organizations, that of management LookingGlass's nearly and increase TAM. IDC has our will value acquisition believe strategic including will strategic existing capabilities that our market EASM is revenue tested growth by by We large with sector $X increase attack platform growing XXXX. service sophisticated customers. very strengthening also billion in This estimated our quickly increases hit opportunities customers.

to, path limited profitability not but including, it and of opportunity, public we benefits, other with and us revenue provides to the cash acquisition increasing our this positively scale will Additionally, expanding impact breakeven. our flow our strengthening believe and sector

We integration. coming making with you rapid in forward are to progress the providing quarters. look updates I with the

summer, reflected base grow our success and our and external focus plan capabilities lead will This and cybersecurity we performance be to quarterly on to will metrics. continue strategic executing customer platform in here our

laying to the including infrastructure our more growth efficiencies cross meaningful we'll long-term efforts. also platform, drive lastly, and optimize while leverage. synergies And to improving will continue foundation our across support to overall our We selling our deliver operational

to their to next QX and about strong in thank our the opportunity the on short, In the commitment start a all we very and was initiatives the us. front remain energy, execute for we to I quarters. want around of as continue Foxes our few year world passion optimistic and of

our the call that, With over CFO, turn to like to Tim I'd Bender.

Tim Bender

Thanks, Foster.

'XX ZeroFox mentioned, started Foster As note. a on fiscal positive year

the Our include from QX as April days operations of closed acquisition XX. nine on results LookingGlass

we results otherwise our between are exception and earnings our release. be today financial GAAP measures. stated, can Reconciliations and will all revenue the of non-GAAP results With discuss non-GAAP found financial unless in

from of $XX.X our including revenue of $XX.X million million, Subscription reported our For ZeroFox million included LookingGlass. of $XX.X recurring $XX.X from $X.X and revenue $XXX,XXX revenue services. the revenue response revenue government of strategic LookingGlass. revenue was QX, from on-demand million, was $XXX,XXX million customer from of consisting Services approximately and

In discussed of volatility we have response the our services. potential on-demand the past calls,

As response quarter. end closed of this QX as volatility a Foster mentioned, we we the seven-figure in at deal experienced multi the

the in negatively revenue QX's on-demand response achieve timing to growth. significant positioned revenue of impacted is deals QX, While services

million, strategic recurring $XXX ARR annual of million of $XX which was on-demand LookingGlass. of our revenue included April small amount recurring our services, from million consists our subscriptions, a from contract. XX, $XX ZeroFox platform government approximately ARR and As of

a the ended subscription with quarter We record customers. X,XXX high

continue to and new both customer existing response expand customers platform our to see base. land capabilities within significant and We services a opportunity

continued $XXX,XXX increased winning than with greater in success mentioned, year-over-year. we As larger Foster XX% ARR QX, saw customers Subscription deals.

margin. gross to Turning

the For gross first margin XX%. was quarter, subscription

the to towards due subscription As which half of margin more timing from last gross quarter's level of heavily expected, slightly the be year. fiscal weighted to our decreased first investments, XX% tend our

remain subscription investments will Given we to increase would second in continued the make gross expect constant half of in then fiscal and year we QX, 'XX. margin

is basis, as our annual volatility, moderate there goal margin improvement for we have several subscription deliver gross a years. an While consistent, potential for was on quarter-to-quarter to done

gross attributable of to the to The QX was by in was increase XX% mix Services driven XX% platform-based gross 'XX. component services. margin revenue the compared higher response services margin of

QX, For points attributable mix points due gross our enrollment higher engagements. response basis and levels XXX from to margin to services expect services basis of to we notification large XXX to a decline QX

of driven XX% gross The by Total was XX% increase. last revenue gross compared and subscription improvement to margin the mix services margin margin quarter. total in the higher was gross

total As we expected services margin as to gross we in expect QX, margin. the gross result decline decline of to a look sequential

business, and to gross drive our revenue We opportunities overall revenue scale our overall continue subscription greater greater efficiencies becomes our improve our as a margin cost of see to mix. higher-margin we portion

related for as costs annual expected the and development, The to and the Turning to expenses filing in in driven approximately the G&A transaction residual audit, research were and increases in investments de-SPAC primarily was Total sales LookingGlass timing including $XX of as our LookingGlass. expenses fees related expenses requirements $XXX,XXX well of acquisition. due increase to operating by and expenses. continued marketing million quarter, operating from in

$X.X from was Our operations loss million.

$XX Looking and at receivable, flow. outstanding We accounts debt. sheet revenue in quarter cash, deferred million the $XXX million total $XX with million and ended balance in cash in total the million $XX in

was Cash flow used million. operations $XX in

was the flow by and of large related to timing collections acquisition our customer government cash LookingGlass. QX costs the transaction from of Our impacted

QX, of in our our expect is We takeaway cash flow key overall to rebound line significantly here cash flow expectations and fiscal 'XX the for plan. are first the year in that with half

outlook. our to Now

performance incorporates QX LookingGlass. of reflects operations and guidance our the Our

changes material services remains within platform our our anticipates business. no the Our and environment. cybersecurity outlook also in assumes external macro Demand volatility for consistent

prior QX. commentary also incorporates services for gross margin outlook regarding the my Our

'XX, we loss range of $X.X to of revenue QX in be $X.X to million, to of $XX.X fiscal and non-GAAP range expect $XX.X For the year in currently the million. million operations to million be from

in of the $XXX in For million. year to $XX revenue million expect of operations loss million, to and the fiscal non-GAAP to 'XX, range the range be $XXX we be million from $XX to currently

focus profitability. to path to on the continue We

We expect flow of the breakeven. be free remainder cash the to fiscal for year near

Additionally, sustained half 'XX. of expect basis cash we will fiscal free that flow we a now year in second achieve the on

With questions. Operator? like to we'd that, your take

Operator

with [Operator Instructions] Gallo The Joseph comes Jefferies. from first question

open. Your line is

Joseph Gallo

revenue I guidance? of but with -- you I could for thanks the there? just anything for guys, Hey, can But LookingGlass, from the the you did question. noted you Tim, the inorganic impacts in $XXX,XXX to have missed give quarter revenue know it. might help

also some linearity. any And linearity services Was the there in quarter? noted you then, subscription

And maybe you have as macro macro seen then, might it just relates incremental to anything XQ? and that versus

Tim Bender

Yes. heard Thanks, Joe. three questions. I

So, let first was, we think one -- if the LookingGlass carved me the out piece. I

$XX the million to the in range revenue full $XX million expect year. for We

seen as stayed that growth consistent to constant. we've pretty saw We linearity, it subscription previous then, And quarters. as relates in

it So, any saw that in the lumpiness services have we revenue. didn't

let a on jump Foster standpoint, then, I'll And this macro one. from in

James Foster

demand more And maybe emerging We of outlook I markets too. conservative be world. It of for we we could Yes, also example. to think of And numbers, those very continue the the appreciate, markets. a resiliency Joe, today, than I a Europe, standpoint, from continue in of the be of in as seeing a think we're emerging some some in which consistent law QX we of expecting. we environment take just of surprised from and macro kind saw a healthy small little saw were to steady off of

Joseph Gallo

relates And then, AI, to you, FoxGPT. on maybe for congrats Foster, as just it

most monetize Or for than maybe industry? model we positioned stakes view, better talk guess seem is those a I of your from You And FoxGPT? there should monetization implications? of AI. cybersecurity how table think path potentially about to is AI just kind the through,

James Foster

issued got question. a with pretty property our in Maybe of one. than intellectual we name Well, program; the got look, in already the I since appreciate robust patents has have today a and more couple day thoughts. ZeroFox We've innovation XX dozen works.

don't for some taken language property apply large And models tough not products talking The to data a program, so, that they're to going have this is I and real AI, I lift today intellectual think easiest models, for have a which market is folks the sets. everybody think them. generative to big to about, be

maybe that and folks think going this. with in backgrounds data have even they're don't algorithmic struggle advanced science to I in their platforms, computing

our I years [indiscernible], now. AI of in kind a don't in in of NLP for platform program for and know, we've other it had mentioned place time. where a used computer vision, I we've types long several

been a capitalized are and disadvantage will invest don't the can't. will that acceleration. real be those probably this And figure back think your a, will come. core for years real those to get separation believe have of do I prefix just required one go natural at the extension two platforms we've see, just It's that as and that there, feature a it to call, to platforms I'd a I the is and that years out that cybersecurity be what ability And it, in meaningful doing. in from a to AI take to going. I we're set, where will what to have to it And invest maybe So, think,

Joseph Gallo

of deal. ton closing Thanks, the congrats Makes guys, a and on sense.

James Foster

a Hey, lot, thanks Joe.

Operator

from The [Operator Jonathan Instructions] Cantor. Ruykhaver question next with comes

line Your is open.

Jonathan Ruykhaver

more on congrats with guys, Hey, results just dig bit Yes. into customers. down if the wondering the could you strong overall. the strength I'm plus-$XXX,XXX a

driving has about talk couple that that success, the initial that terms quarters? over specific products last in and any are the motion success of of land, Just change there the been the go-to-market, there in what

James Foster

We been, last QX good right? our strategy we've There organization been year. Hey, as morning, an since multi-pillar of of year. Jonathan. public has last only adopted August in mean, I platform

capabilities, new time. I customer as additional a really ZeroFox continued think of any of that products so, bit I with seeing large nice takes we we're spend. strategy, And or And seeing multiple kind it the launches that increasing little are just of adoption within our here one what platform. And is is capabilities think

take problem full for going in spend. after which real additional of other I'd but size is can't I to love earnest part, we're the that predicating think is that credit the some the

escape them of looks fact thought, visibility, little we're surface most really size spend large cyber nice seeing enterprise requiring If or organizations of visibility full about maybe without protect they the and customers. and control attack you problem, growth the of it's external why ahead still bit external don't the it, their a that have our can't think in the and they to what like what some really that's

We've put thing company platform customers. external I opportunities maturity cyber seeing the to with a Maybe it's think given I'd our last We're scale. of more the consolidation be there dedicated maybe the only environment, it's more security size macro company. and the is hit little and public and now. our bit right in we're given

investing the and seen maybe our think customers we are comfortable feel in getting I where years, when few did so, it our at confidence they high-growth first mode. abilities rate they start-up And higher still in a than more hand over and last they've more were

Jonathan Ruykhaver

a as guess, I And Yes. follow-up...

Tim Bender

is this Tim. Jonathan,

we sectors, to come customers all from those Just adding more $XXX,XXX saw too. it, and industries

large strength we're industries a have across in nice all seeing and services, verticals. what's we financial still So, customers is but

in we're seeing So that's large wins. the that customer further success

Jonathan Ruykhaver

terms four strongest you the is of where and within trends or just Because consumption across pillars, always Is discrete that has platform it a consumption, No, that's the key success in the you're specifically? seeing great. pillars? the Okay. protection seeing that the And across then, one. those been are pillar larger

James Foster

of think kind the response expand an organization disruption foundation. we've longest It's continues and as and I be to us land protection our intelligence into protection it what our to been of and doing kind pillars. gives and opportunities

seeing the set and this that's we're success there. think year, motion I up for we've some

Jonathan Ruykhaver

enterprise external attack of that just for terms the AI. And of just on it if are kind And involved seems AI-enabled that becomes surface even okay. category, consumerization want get previous seems question of changes me seeing ability follow-on you the more that me, to just what and fundamentally last curious, thoughts even the the security we a question the It in just yet call to tactics broad it these adversaries to just Yes, in adversarial of it strategic. issue? than the a today. fraud and to market, I'm you on as that, but are me to just see that your just more what game,

James Foster

to one We eye human customers you most it terms examples two we versus is continue advise kind of maybe is terms the try on our to that that home. in And beyond part are. determining the real attack think give I'll mean, for the I this visibility concrete of now. I drive to of of

is a deepfake as at like as video. One, where a will now real look point deepfake a good

a will real video. an video deepfake as all look, for good an purpose intent as created individual or and an of executive And so, feel automated be

distinguish to hard really it's that. so, And

security that cycles as been seen change protection. vogue emphasis more then, And at anybody we've vogue will, the the ChatGPT training over be get training where vogue. of allow on the in a lot will protections world has will phishing may in back time to then years, sound, say, seen in last a and then "Wire typos, fund." on your in and perfect trainings it And emphasis simple training. least less I as ChatGPT cycles, now where in second, there landscape Well, will to without XX bypass think, create without e-mails somebody all You spear me in perfect and ChatGPT can e-mail

place to and you're think real targeted acute to I have attacks. some protections And so, very sophisticated to need in these combat of going external very

up we this upon I execute think are set well really to opportunity.

Operator

[Operator Instructions] Marc Bachner Stifel. with The comes next question from

open. Your line is

Marc Bachner

on This Reback. you. for Brad Thank is Marc Great.

kickoff know ask cross to about wanted sales Just March. the sales. had guys IDX in you I late your

results So, just seeing of off? how into kind early kicking that's

and both IDX a And then, have sector also, obviously, public component. LookingGlass

what I Thank grows, you're synergies that see kind And outlook expecting wanted to of sector? of a an there? of terms as little in public So, bit the you.

James Foster

and good A Thanks. Marc. them address thoughts, of morning, Yes, order. in couple I'll

on the sales and doing. was IDX one we we're kind have here did crowd our So, for that kickoff Thanks how of in reminding QX. cross-sell the

that And sales that. communicated part we we last time synergies so, We going to have was were our in that did of QX. our kickoff

that setting was We really also company some us started had for those nice a foundation the drive to And we've to kickoff. and And really cross-sells. rhythm see progress.

pillar, in primarily the organic earnings is plus mentioned particular us in response Fortune we XXX that the house, from side and into new was IDX we're increased the was there the I capabilities call think call, that a a we side Xx. we it earnings pillar about quarter-over-quarter, now. house where building response deal that with customer, our this some a their of One over. deals last of on spend And come of starter talked that some the saw nice deal really that

happy we so, for over And ZeroFox half this customer decade. a been a And with has very that. customer are

where the revenue awareness that base leading we're So, that I motion our to into opportunities. starting think that's we're see to driving type customer the of is

revenue these will spikes I between over I quarters would long-term QX in awareness this awareness sustained pillars. QX. increases I expect huge or in rhythmic also say be expect that to don't to and be come. this

see I I like what so, there. And

longer now core certainly experience, have, that sector honest. play I we over LookingGlass' But, I me sales think are seeing terms. public in of general, will My synergies, wrong, And longer I sector, question where then, contract a if cycles. time. They it especially public public heard any sector are get kind on out capability And customer keep given set.

some We so using public They've the to customers, at healthy really that's there. have risk-reward house, platform those us that that through side table. expect the out model any the near-term time opportunities. long-term, that's customers just will like at of give takes And they and but the really it been the scale, brought sector and motions, really interesting in do I nice a healthy big go we the pipeline synergy don't it wins to there. they're

Marc Bachner

Thank Great. you.

Operator

next The Cantor. from Instructions] [Operator comes Lee question Fu with Yi

Your line open. is

Yi Fu Lee

and Hello. start wanted Good morning, extend fiscal Tim. I to to And also Foster my 'XX. congratulations strong on the

So, We was Tim, my six pipeline you Foster, on commentary, ago? question let's the positive, is same? you kickoff more or months sales compared on XX Any quarter. negative, say, the past as right like, to, now the know ago months like, have pipeline generation. the wondering the outlook I can comment

James Foster

give commentary. I some qualitative mean, high-level you I'll of kind

today pipeline is company been in start bigger it's history. Our than ever we Why don't there.

But some in think, and continue I our very be calculated year very general, conservative we've in uncertain two first Yi, slightly I I this markets planning we given the think, quarters, about in in particular. surprised mentioned resiliency growth in of macro. question, as last to emerging the those been the the

demand. seen done markets the kind in where America, North optimistically I steady we've our us for we've in nice here job remain still And some healthy sector. think overseas, seen we've of a

a especially at there's And time, think mixed same I and in countries think within uncertainty I where Western to of and kind signals just sectors, heightened the watch threat Europe. in we But industries continue Eastern there's there's environment there. over a particular, economic

are We're security using that IT than people looking with some continuing plans. where in where of to areas option people the option so, finding differently they're aren't opportunities And their maybe push, or an there's productivity to at maybe push. other

So...

Yi Fu Lee

like as opportunity, then, that significant. do I X I on Tim Foster, monetization devices place will Google know It browsers, outlook in a right? Okay. was your wondering get the of It's billions billion in the I follow-up, wanted think guidance, this? and you using people one. the when take to is included on LookingGlass like looks Cloud So, And on like -- guidance.

James Foster

partners our about Google We're and we larger given with seeing of demand. with kind of When We market first Cloud, nice opportunities are interest being announced here right in increased we capabilities now. and integration some saw traction our some QX customers to pretty excited. those

deals scale And bit so, in application, quality of the is call time we're it us full turn little of come. revenue. the into and a certainly, to Google expect an I I internal take kind it general, would say, have roadmap into revenue. to most quarters doing But in with here with pipe to enterprise to would announcements what more I get will ZeroFox the is and mantra that enterprise

we've so, side And revenue with got we're the working the on it and roadmap, off that.

Yi Fu Lee

enough. like revenue. refresher I last know you Like financing cash, Excellent, if is, like refresher, million one a right any us and the there in next reiterate, said at flow to same this on you -- think fiscal Foster. $XX still inflect could And on lease? need cash you fiscal going AR, year, positive, you Is was get wondering now? stage this financing is right, one I the Tim deferred the you cash know I give for right? more mentioned in $XX financing, Do million the to [$XX] -- and external 'XX, you're don't million (ph)

Tim Bender

Yes. Thanks, the that feel in the ability absolutely to feel of cash part confident get we our We and capital there. to year, flow like sustained to latter in we have get right. necessary Yi. That's next

Yi Fu Lee

you Wednesday (ph) Have good Cantor a at to gentlemen, forward Okay. day. Thank [Tech] our hosting look and Conference. you, we next

James Foster

Yes, see you next Yi. week,

Operator

for further no closing time. to at would now remarks. show I Foster questions I the this like back to call turn

James Foster

operator. you, Thank

opportunity are year and tell, fiscal the strong about in we us. can you to As excited the the front start of

today forward Tech New Stifel's CSI are seeing week at We looking York. of Conference Conference at the and next you in to Cantor some

joining good today. you, So, morning, again, Cheers. us for everybody, and thank

Operator

participating. concludes Thank today's This you conference for call.

now disconnect. You may

ZeroFox (ZFOX) 6 Jun 232024 Q1 Earnings call transcript