PCYG - Earnings call transcript Q4 2020

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Operator

Greetings and welcome to the Park City Group Fiscal Fourth Quarter and Full Year 2020 Earnings Call. At this time, all participants are in a listen-only mode. The question-and-answer session will follow the formal presentation.

As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Rob Fink with FNK IR. Mr. begin. may you Fink,

Rob Fink

call and Park for everyone. fourth Park XXXX Chairman; Hosting full operator, City Fields, joining CEO Group’s Group’s quarter you CFO. us year and the call. conference today City John earnings are good you, Randy Thank Park Merrill, afternoon and for and today City Thank Group's fiscal

Reform Group Before Act Private forward-looking statements contain this call we begin, could the I XXXX. of would Park of like within City to Securities meaning Litigation remind everyone that the about

in The statements assume statements filings this be that the call. conference information the the call. Exchange light contained on release financial Group will conference any discussed from are Security beliefs in Forward-looking results Such and results Group company over-viewing set the risks information today's of after the subject forward-looking Park actual closed today, that market current update cause Investors Shortly obligation City not to management a to company's be the statement. company's those issued such press the call this is expectations. visit Investor not section said, to fully Merrill. differ John, at to on and forward-looking considered over John Commission. Relations can release. turn parkcitygroup.com with yours. facts. to are like the access does could to uncertainties, With are now website of subject herein press I that all the call to Such forth statements should historical are and risks which City Park in risks. discussed are based

John Merrill

XX%. fiscal business was Cash XX right ending fiscal recurring report software XXX customers annual Tier for financial grew for million. reflect in, quarter XXXX X recurring grew software is on in Today June X.X and revenue Rob and XXXX. for results from XX% business operations from we revenue XX%. Jumping Marketplace Thanks, the afternoon the our revenue results XX. everyone. fourth grew to XXXX full-year good We the XX%; in

recognize company's what we the are We pleased have sheet and the profitability. strongest circumstances. am I the in history achieve continued able given to balance with

For favor software or was This our X% SaaS planned down recurring topline in was one-time revenue transition, our stated year, full a of part the revenue. due total strategy. revenue of to

However, as challenges top we generating cash the strengthening our growth bottom sheet simultaneously see significant given uncertainty will you environment. COVID and and in fourth the delivered quarter, while and flow increasing balance line free despite

have stool the different Before I believe we or is legs of we that [told] it into the in products to get three numbers, two reiterate important ways.

First, recurring million software SaaS, we approximately as have our Service Historically, includes million subscription to X or been license non-recurring in annual service and revenue sold a one-time chain have compliance revenue. Software and a and products. supply X business those products which as

As we non-recurring XXXX, transitioning made software decision revenue in our the on recurring. said we efforts to to focus

respectively. portion recurring June the small of Transitioning of revenue. be all with buy XXXX, of versus XXXX meaning as efforts customers Despite will our previously subscription. easy As one-time XX% was business meaning software license have put recurring now business is and that our eliminate revenue always there was I feat. will a communicated to who no rent software software XX% XX, June of our in in perspective, percentage June that and XX% XXXX To

reduced business approximately to However, XXXX. in one-time software fiscal revenue has in been $XXX,XXX now our

of within our business revenue to network find marketplace, stream second XX,XXX source allows which and and The in is their suppliers. things retailers [embedded] to sellers buyers hard our

we sell Sometimes we the a are and buy, we commission act fee, the and whereby as hold, markup]. agent a or nominal [for times, goods charging principle other

find it's whether the what things. for less as margin pricing, from market a we buyer quarter-to-quarter than and transactional that's scope the seller commission to of good buyer we As demand preferences, of those transactions Because software latest size substantially business. The side largely sit on unpredictable. and inherently get you or vary and for between and is can know seasonality, in the hard marketplace based

have before, gross on indicated our average business marketplace of Conversely to approximately revenue software XX% is we is As margin incremental on X%. roughly XX%. base

you customers While is both business compliant, software our to to marketplace business their more a actionable visibility have components that are from recurring ask? into predictable, replacing revenue have and combination Why profitable fixed is to supply the vendors, means double-digit our business, and chain, has our may fully sourcing difficult software cost this of that investors, our offering customers items. diversifying product we separate which suite, and at offerings, hard our grown software overall to solutions of For strategy rate. enable this now more find simultaneously and important, be covers a

post-COVID important transactional providing to been value penetrate and Nonetheless, we is source and Marketplace marketplace, fourth and to visibility customers expand during our protective personal have to customers. was June what we stocking view, adds on incremental lower believe while I have delayed PCG. gloves, a committed compliance will this new expect which we is which Reduce benefit costs. has the effected offer predict difficult where needed revenue cycle. marketplace business my both replace elongated is Decision quarter. can, supply find and has base. network. have remain our million operating software thermometers, has expenses, to including pandemic. network, the opportunities existing interim, shelves. In in that our marketplace critical chain we incremental good includes making sell. said obvious and the have revenue, In focus Simply put, in our the they may partners the while before: strategy COVID, to on [form] is, this sales will business, cross the cash, and one-time. and further in time has our their pay. we grow This XXX% and We normal facilitates the sheet, long-term revenue customers, to reliably from is grow customer sales hard resulted network, in equipment, We and the not for Despite non-marketplace make some the new Focus our believe quarter. temporary believe We our respect to and existing the mask, and of of changed. Furthermore, customers. support partnership to reinforced that the in been effective the the to pandemic up strengthen Generate items COVID-XX extra chain has management of the benefited to to also network, recurring how which other distinction margin earnings, COVID yet our grow customers? this An pandemic growth $X.X contribute short-term, balance given businesses. a drive with logistics have, it challenging the question, to challenges supply

As a solid a have. I've said before, balance nice sheet isn't to

it demand The more It ever focus. nothing. customers changes than our only before. pandemic reinforces Our now

numbers. Turning the to

million, Let me million XXXX same fourth the quarter start XX% year. X.X with last the quarter in quarter. up fourth revenue X.X from Fiscal was

for $X.X customer decreased costs rent to increase decrease reserve a QX increased in commissions, and period a lower XXXX. marketing This lower X.X the cost associated QX XXXX, from default measures and million the X.X should total XXXX. for a For XXXX bad $X.X total result XX.X% the cost-cutting be debt QX. operating in to to from to from in in revenue a increased $X.X and travel million at of marketplace’s we in XXXX in operating incremental This our primarily in margin. QX million to million is fourth services the X.X increasing bad of is Again The lesser marketplace. started G&A it increase trade is in partially professional extent The expenses largely end result our the reductions quarter decrease expenses principal with offset result prudent sales Sales million in XXXX of debt lower expense expenses XXX,XXX fees. of by occur. in QX fiscal same QX travel, was million XXXX. with a of XX% quarter shows,

XXX,XXX net or quarter of For X% or compared versus shareholders or XXX,XXX share was the net or GAAP of diluted share. fourth GAAP common $X.XX diluted fiscal income per to XX,XXX was to X% per XXX,XXX of income $X.XX revenue. revenue XXXX,

million, that Turning was This X%. software to that the recurring revenue to planned $XX of annual XXXX June XX for full-year partially million in of XXXX, not marketplace. compared occurred growth revenue XX, the results. ended year were total increased $X.X revenues XX% in offset result Fiscal annual year-over-year. largely repeat a decline XXXX a revenue decrease did Total recurring XXXX, by in revenue in of and reduction one-time million

revenue non-recurring is One-time material. revenue Software a now XX%. recurring is marketplace now absent

expense XX.X For to million the total million in XX, fiscal year. June from XXXX year operating X% XXXX ending XX.X increased this

at numbers expense Let's in the detail. little take annual look a product of and Cost services support. a more

fiscal $X.X cost services XX% costs. and million revenue in increase COGS and increase million. product to in support year a from its For reflects or million increased Sales marketplace of XXXX, The X.X $X respective and XXX% marketing.

X.X debt primarily professional This fees, revenue. reduction general and For X% million lower due decrease. expense X is X.X $XXX,XXX million, an revenue, was or X.X fiscal expenses the related sales in a decreased and commission XXXX, and result year X% The bad million to from the XXXX, administrative marketing of to reserve. G&A, million. for fiscal year is versus increase to lower lower increase

we not has Inc. doubtful that material its for we prudent foresees given of allowance with The XXXX headquarters, to of the increase experienced Las data Murray, increased expanded default, result professional CapEx. company center move of offset in believe versus the reductions versus Depreciation move a XX% XXXX. Switch, in the and was overview amortization. travel, XXXX to to or XXX,XXX Depreciation customer the Vegas, In for its company amortization reduction COVID company's expanded is to XXXX, Nevada. data headquarters rent, occurred build-out and accounts. was is This new complete the the is and million CapEx While XXXX, A in expansion X.X for This CapEx. projects. center to increase the the attributable that [in] Utah in expense fees. and XXX,XXX brief Nevada XX% it fiscal XXXX. completed XXX,XXX company In and

for spending licenses, in CapEx to commuting As a approximately gear. and per PCG technology year updates, company, hardware security, XXX,XXX estimates annual XXX,XXX

Turning a diluted now of or year income fiscal million per common The ago. to of XX% revenue million of shareholders diluted $X.X was net ago. year $X.X or a XXXX million or to $X or XX% revenue $X.X versus $X.XX year share income GAAP net compared income. net GAAP share, was million X% full to

Turning cash balances. now to and cash flow

today. stock to approximately XXXX, due continuing buyback million from shares to stock and has and we Since want profitability on quarter. note, we With halt for million, repurchased stock we March, point, the has of XXXX. strength final necessity to grow share. the in our resuming decline cash of fourth cash our a year to over X.X fiscal the the canceled cash not to demand of And in period We during The shares made in balance in shares cost customers fiscal an repurchase current XXX,XXX XXXX COVID respect cash common and repurchase in end a the through lower remaining For a outstanding. the buyback did million revenue. balance may strength, for to call of out used common generated buyback buyback company customers, for time foreseeable are your this the prudent price X.XX of revenue, recurring Total it. that XXXX, is value remember maximizing total million structure, under XX.X a the Therefore, in $X.X operations sheet shareholders. year, I balance XX.X On point plan. they to to sheet generating million and anticipate to our well-controlled is the XXXX. cash balance fiscal the million, we net $X.X million fiscal at to compared program per was Those prior XX.X uncertainty, program. same X% fiscal cash the opportunistically cash decision our Randy. average generate the ability any to program, million in X.XX company the existing X.XX of height began approximately shares at at during on were consider position, given no Thanks pass everyone its I'll our program Randy? and program our longer and stock compared

Randy Fields

and for makes Good we frankly revenue to believe in easier decision year the shareholders. afternoon, important, we much while on groups. business inherent our compliance strategic reducing while then The revenue. our leave our our announced then, change everyone. easier now revenue is changes offerings, two in in this understand was software subscription us is company believe that valuations future better to profitability. a yearly both will and our ago, whole, About the that business focus recurring supply to focused better continuing as chain change with continuing grow in a this growth to for SaaS was the those It We and our to forecast and revenue and product one-time and our

So, so of to you way I'll thinking give this. reiterate, a about

different different product ways. three have two We sold groups in

We sold and exclusively products, mix which historically we that are are one-time chain a business. revenue of basis, what subscription compliance products or subscription now and a have supply call and Software had SaaS almost on

the that. we an a which would topline recurring customers that uniquely all which this to us hard leads nature proud has though even very At and find in important years to from that solve X substantially to derived is one-time problem accomplishment. its many which have point, been this revenue. software fees had XX% that, this that more. year, locating underlying one-time help would to talking obviously this years flattened it's reported levels, millions business items time, million same qualified, approximately ago, benefits. dollars Two of to impossible instantly transition software business. up we've likely very the knew revenue of our think one-time compounded reduced marketplace, subscription the for backfill very by this our have difficult, The I we suppliers revenue, been of of is those XX.X% we last should also revenue included are transactional we but revenue. them millions reference with important as very, our have software to over a This about last for year we we a Second, $XXX,XXX, growth shared But, asking and in and three of we're We growing understood about

First and more business foremost, it would our predictable. make

take it at Second, profitable. appealing customers easier to well remember, we understand our would you us has for a historically even one-time look if all time, make the effectively would third, model are more about prefer to almost avoid years. investors to of two over now We maintain Remember we that and to raising buy us. focus would several our later, year software time, assume thought than our that as our to continue been it our cash company make to much plan. and about rather our of it sure rent profitability. We've us ahead here solutions, And customers make revenue. a we eliminated but would Again

business our noticed. and revenue, grow and did last have part revenue as the may the the from This X% year noteworthy June that's XX, less year one-time frankly we SaaS said. recurring is not In Our success of of meantime, XX% been as the was than XXXX of before. down substantially

As with costs, we're fiscal year as a into a our XX annually. are excluding in marketplace XXXX variable recurring fixed result, costs million $XX revenue. of That's approximately base the going million cash important

to has profit So, our on We're more side covers the ended that a world. certainly recurring in we're as for is our positive the $X.XX grow food each weaknesses most to and contribute recurring year, and the incremental the supply place very cash a XX as given last cash you retail revenue, and base for progress world That pandemic our been of current we up to uncertainty this in continue XX% obvious. in about note. exposed proud revenue held others remember, our and has recurring chain circumstances wise the retail. to years. fixed and business are revenue we that that we've is said, much the the too. fortunate And very customers. segment no now grocery of friend. There frankly the grew a weakness costs, City the address in of beyond working the better and The those Indeed, of dollar be never it continues pandemic this in that doubt serve in nice industry challenging present the is chain our please uncertainty Uncertainty are hope than supply the We flow. we million Group year the should Park of fact many SaaS in our

make more trust. meet we from the minds. chain items As is offerings top short shift be, the challenges them interim, or these their hope items focus marketplace about can in suppliers our helping remain many to customers to In the crisis sources thinking supply, their of will they that resilient from begin supply future their at how source

in that headlines prove victim this, seen As you substandard compliant states critical trustworthy suppliers having can example fallen and imagine, really The been municipalities to as sadly governments suppliers several have for other or and you've short suppliers. supply.

transactional a a contributed more line significant than in $XXX,XXX decrease As and marketplace result, the and segment for itself compliance this is This us to supply marketplace business. as our chain quarter. from that last catalyst our cyclical one-time offset changed. revenue, revenue top serve be the to haven’t and counter The long-term proved rest secular to dynamics industry of excluding interesting this

if reinforced. fact, In been anything, they've

that proposed need we to cycle. same what increase and are needs and time, will do critical, are time disruption there and keeping even customers our [indiscernible] being perhaps the are ensure. of remains same but on Retailers At regulations – harder crisis, to we compliance sales putting urgent. temporarily for and that employees it's in critical, ready. extending in for times less is new food fact, decide safety more During the Compliance the focused

only an customers food a help while, think will a to us. encouraging last this pandemic major of addressing us, that's these Recently, that of immediacy all challenges. We decision use things cooperative delays of while short deal continue gained obviously to induced have with they kinds endorsement our we members its in

this on keep XXXX? made meetings, into understand shelves. decisions not do how So, new year. optimistic economic cases, battles year being even look we're Our face, have We At to point, In projects. on about time don't the all and the all, things they the Why? day-to-day the for many but locked customers slower. for given obviously taking are we overall product simply calls, are uncertainty

our both been. of and it's the ever However, Tier pipeline hubs overall, X Tier interestingly, X now is largest

We focus have closed numerous producing we've to of agreed and and after deployed the is of the this XXXX the in our year. possible Tier and here. delays, attention already do which needed wins is up-sell opportunities. Even XXX first A year. grew with What we the few, X far needed sure] our by HUBs getting XX prospects for [patience revenue in definitely will been number from and fiscal so be to challenge,

Tier In obviously longer-term related and addressing pandemic beginning X is shift from chain are supply us. this their recently Xs will addition, emergencies pipeline benefit to grown Tier our as to

However, into year several unfolds, hoping as fall the we're column. more will of these win our certainly

again interest our that deployed getting ReposiTrak UK, continue In in believe from other the unfortunately offering XXXX. delayed are and will Simultaneously revenue revenue from internationally. countries, are we interestingly, Pandemic calendar we early our especially addition, hopeful South effectively in new America. but we and to begin has we expand relationship can

our is to Several reseller provides products a resell and to channel. Another endorsed for is private co-op, retailers larger ReposiTrak their us customers, to a emerging distribution members. opportunity it beginning including of recently involves label which

lucrative seeing markedly offering. of disruption opportunities view a part. also us. of for do of this the channel addition or a even COVID balance our has being on early, similar sales but we as a in in importance we're increased The terms strong reselling sheet out stock potentially So, It's

Large in when leaving high Obviously that the in fact, marketplace customers. difficulty. business whole. no do of everyone competitive periodically you're could a be who business In for longer see in finding be short-term strong else, with a retailers remains vendors We're dry. a company. need changes them the an but to the companies we us out to it's option financially of in or Visibility to cannot yearly We're and aware certainly be still few themselves financial providers our afford service viewed challenging. quarter-to-quarter revenue as and approaching

measured. revenue Our not great year, some Last quarters and overall we for was frankly the we great are not some recurring had quarters, how XX%. up should but so nevertheless the be year,

believe in we Our recurring an on revenue double-digit year. low in the annualized this the again will software business, grow rate

COVID unchanged. the frankly uncertainty, Given our remains strategy

expenses, We cash to to revenue, to for customers, recurring our grow obviously profitability shareholders. only our in continue continue not watch continue grow for carefully our will but

I'd that, to for like operator? with open call questions, the So,

Operator

you. Thank

from comes D.A. question first Our Elliot Davidson. from Alper

Elliot Alper

thank Great, you.

job recurring So, our revenue. you've great done in a in maximizing efforts

revenue. think on Group? That to months said, Amazon you. the in have online XX after comes to follow-up June that. increase should congrats will factors our XXX% reported quarter, are So, that. secondly, Park when implications in City that the drive I the Thank the it And how just grocery wondering one about next what the non-recurring we a

Randy Fields

Okay.

So, you John, them then something have why and I chime add don't take to in. if

fear the is and for from that enemy primary truth Amazon Amazon, the all online in their our Amazon. supermarket of friends. comes worried industry activity of is the about First Everyone Amazon is

fact So, the for do continue they the business and us. Amazon recognize in good way have, the better in the people this the a case it’s more way is cannot that they [steering in frankly does unsettling pod] to that

can we extent in now GAAP kind their rethink The of of, they of naturally profitability, dysfunction In from the a is expect if next marketplace to a we year. is GAAP here perspective, how to is, a to significant to a to them non-recurring that's profitability, very grow, supply our generates imagine recurring certain don't work as SaaS would question, to to this that we to know doing We think terms we compliance in for we have terms additional continue not they have this revenue you to in that, you job I of truth going of and do customers and software think business and finding think other difficult the that compliance that business very yet. encourage chain we causes fully who's way the To derivative our business fact customers the suppliers the us be marketplace. to uncover going supplier our help vendors. serve to turn an ought call to are underlined

has but and service. So, means it's that we've as we're but been this resourcing we're fact upside. upside, it, investing we're doing the We think it. we to got very interesting think That place a it it this yet of a is, in year. the don't matter heavily think We in more forecast just interesting

So in to expect that continue demand things that we by our find shortages if would up. to of say definition and some hard period for time revenue then that be would will it's fair be marketplace

I on would a focused of rest an investor, to were if business. be I it's mostly question really think difficult I the answer, the So,

Elliot Alper

an lastly, run your how much now then higher COVID? or just standpoint, it how I past in expenses? think Is that to costs about operating figure talked because Okay, business a you've expenses And money great. the your year? of impacted lower from John COVID-XX has

John Merrill

COVID Yeah, it addressed stock stuff north quarter amortization, we this on you from mean, XX you're had cash lease takes the I standpoint, if call. when said, at this look Randy, it amortization, know have this, always you I said million place, mean to XX run hold. and had I I not a depreciation, of into took million. but get comp accounting, forget to third

cash call, is spend, [XX], affecting you spend June been mean XXXX, will month. we made, know we've So, have it including our of is said we anymore reduced goal but than the a to I back, had a you operating look call I've accounting what the I us had always not as if our stuff, said already XX, last done. about by reduce COVID bunch $XXX,XXX but that's on

what of ready business then so exceeds staying other now in reduce and on that these impacting really to cost absent isn’t We’re recurring done and things. than revenue marketplace focused our COVID us some we've

offline XX, I'm lower. contracts you XX it see will XXXX, June look comfortable come as that So, saying million about back look projects complete, back or months, can X.X you

Elliot Alper

thank you great, Okay, both.

Randy Fields

frame it that. We've it as and doesn't been differently perspective. our now business, structural get other in much In let words, shareholder, tell and certainly CEOs as the than I have created Elliot, CEO the me better from you a year, if in costs will than will to profitability for costs for recurring base very have cash quarter-to-quarter, the alive the are digits. – think revenue we revenue year and grow, you that grow our but now substantially not lower forecastable will low-double

in conceptually, us. So, for a a milestone really think important way, is this we

Elliot Alper

thank you. Helpful,

Operator

Thank you.

from Markets. Our next question Loop comes from Ananda Baruah Capital

Ananda Baruah

my straight guys. questions good afternoon congrats a Hi, guys taking on you and Appreciate second solid quarter.

John Merrill

Thanks Ananda.

Ananda Baruah

sort of lap growth, headwind and that such revenue as revenue about of all Look made from environment]. up revenues of transactional [tough point you do the, show recurring revenue recurring Yes, your growth overall couple when Randy, you John to times, start notwithstanding? to Randy a know marketplace end, that the revenue sort you

Randy Fields

begin December, I that believe next will as our we're our and top That's terrific grows it. ending quarter, quarter revenue. recurring expose question. we in you'll pure-to-pure much pretty line to that see the Got commensurate meaning with a By that

So, damn we if are, we’re aren't we close. now there

Ananda Baruah

place when think but you me All that how a Randy, know, wasn't guys you and the that, and helpful. for to started That's XXXX this, maybe I'm if mentioned bad low thinking you were but of not you were if go you return, good, of normalized that a a kind for wrong, even look my And high teens notes, thinking then you actually I dust revenue I you recurring attractive, correct believe actually for XXXX, single-digit right. think looks fiscal good about. normalized Awesome. guys, growth,

that the you revenue recurring that over And growth rate [indiscernible] the for you guys actually would initially? potential question so is guys revenue, the surveys the I'm then And higher thought for structurally the recurring the, that it in of accurate is, is tracking wondering time, what's currently?

Randy Fields

Yes. questions. more really Two good Okay.

of focused because historically, recurring it's terms increased. seen our than in are revenue going topline activities cross-selling we fact, in we're belief it. better had growth Our largely Frankly, have because on

just let So, an example. me give

of that significant In told One yet that one work and turn, come and compliance. I've I of us now out customers a they’ve our should another we're significant compliance referenced want largest of do stock stock of that best to will to a to heard work. has doing impact. of our said, doing you're into they and have go thought from out be what customers and about – them

opportunities, initiative more Number become what of seeing we terms this although all like, what for we're slower true have X. X the can think the I call I business. Number than Tier in of that So, believers cross-selling X, would do

the looks What at So, business experience. customer is revenue as inside and about an And certainly Remember we're success. about in of you business like customers, the Once it to the that very you operational to exposure XX% by revenue, but you puts enormous burden of that increasing probably or that know XX% us. revenue in us, on – we XX% about number recurring growth not grow double customers, nature. and that the feels customers, if customer means everything customer plan. satisfaction that if good have you're that customer will, you maintain rate care primarily of recurring that

that low it we customer So, of that think. revenue rate, want can to used we see you're at and to digits, maintain experience kind if but double feel than is we is we the higher that as right,

Ananda Baruah

little operating signs over helpful. there And and what what be the – it we That's Yeah, think but [indiscernible] getting we think And it. tends bit recurring can of revenue how sort I really should what about software, should the is know be margin. it's if time? to a yet. you are Got so higher, are about those not, levels how structural there

Randy Fields

I think extraordinary We under job of – there. revenue. team matured. will $X.XX think about the $X his we John forward. of earnings going cost of business, revenue revenue has flow we've certainly recurring think produces of We cash said expect all and we’re agree that the We that certainly done would and in us that certainly And dominate John's control. an incremental commentary business side the of which on

very the competitive good So, maintain is, the of It's profitability. ability to we a matter becoming our that about feeling are truth advantage.

call know competitive mentioned couple in causing other a we are services somehow that to that's financial in interest and people increase. I what in it think trouble or have are that space like of do that serious that ours [indiscernible] I we

profitability, So conservative non-GAAP strong GAAP doing approach be cash our and and profitability balance think to way shareholders. one in time for forward, not flow sheet profitability, more the protect is and we're our going that the that we maintain

Ananda Baruah

last One think should one priorities. The [indiscernible]? How helpful. strategic me. That's the we from about really

Randy Fields

and of the of X going X up very, same We're and really that selling In the that the Tier source been are track we've We're business expanding on the than More for terms is well. hubs are – out growth our within adding historically of historically customer additional thing priorities major perhaps a growing Tier that's in focused on terms overall is the us. given very selling same. only of been different any same. cross footprint the more we that's

I emphasize first doing with I so willing care we're a successful that the and a great you've business was history other take they they well, at of are When the for like time – you in it in focus are them at in am you, this want Our how major to are I'm the offerings And when relationship surprised you far theory serviced with well probably technology of that. more they ours. that a of the buy of feel to is terms and always and customer. point

that's really focus. the So

some activity U.S., that add be the will outside incidental. but will We

little of we're begun that other have doing. couple things a We

doing some we do government how switching, the monetize we can our know, but work, customers. government data work. We're did that pilots, of we you little around we we're still how of to have within experiment the some going some a to that As bit, idea and benefit

because object So, we're want to shiny it's it now, sound always us a blocking like for right little experimental. don't new tackling. I and a

we the that's in a said, pipeline, I the As of history business. have largest

Ananda Baruah

it. Appreciate much. so thanks Great,

Randy Fields

Thanks, Ananda.

John Merrill

Ananda. Thanks,

Operator

for Thanks. to would turn and Randy at I Fields questions There to time. back this John are further over the closing no Merrill comments. like floor

Randy Fields

I’m not we've year. world very but ourselves profitable good see year. we positioned for remember, the is extraordinary. be about year feel the think will and very good. it not a about the Please we quarter the feel will each that know, already today. saying That's got anything that doesn't terrific, very, of a I Lot’s uncertainty how Well, very we're be way out will sure, we where happen there good everyone from set very in produce can

we anything where So, are. John, add that? good we to to about feel

John Merrill

the and me revenue, No. – growth, I mean for a agree XXX%. recurring cash, it's on eye it’s maximizing it’s that an profitability keeping with I expenses. it's

Operator

your That call. you today’s for Thank completes participation.

You your lines time. may this disconnect at

ReposiTrak (TRAK) 28 Sep 202020 Q4 Earnings call transcript