for afternoon, Thanks, Thanks everyone. joining Scott and good us.
next, to focus Before downturn; the like then about jumping the in also is each areas: of in, our X to your would performance our people. QX talk over and share to I other last for would words for strength remarks with high you four few about QX too a the awesome associates share I ‘XX thank we and on highlights great May several well work finally are like today of fortunate I weeks. going few all seeing I and such their feel April right what observations a hope briefly of first, that weeks our now; my level work this first position guidance. from FY into highlighting families.
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margin commitment. in to our now have our absorbed our which U.S., We was very infrastructure XX%, Interestingly, fully the extra is company public close gross model costs. long-term
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scrubbed part our potential largely approximately challenges. our debt was balance $X.X COVID-related year and of approximately As incremental nature. expenses, sheet million added our we close, one-time million end bad in cover $XX reserves in total to Of
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In incredibly ended summary, position. an ‘XX we strong FY in
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our Our metrics lagging are are winning. products strong leading and performance and
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we So what seeing now? are
share first, metrics, have lead on crisis what manage numbers done next the the my three comments I ensure the will what us; telling to we we minutes, For will and focus several are areas: next, finally, are Metrics, guidance on QX. win in economic what provide numbers to perspective our and for ‘XX FY customer Please and turn and concessions. us? concentration the telling Slide and industry recovery; XX
and SaaS highly are as First, our we result, durable. revenues are a
As this mix also is diverse. chart our shows, client
As you customers our would who have expect, impacted. we severely been worked have with
paused included and temporarily manageable about These about highly short for we have of also our that some cases, call. concessions have To-date, concessions In usually SaaS totaled extension. in For near-term a Typically, have those resilient. contract revenue time, factored accommodation X million. months. service been X customer customers share later the and billing have period and our a and into we guidance client our always summary, revenue our this have will change, mix while And is concessions is been will things impact diverse on been manageable. could has
improved and short, marketplace year-over-year. all turn Slide results. April we In Please ARR, XX. to Subscription, grew.
win We the close into continue platform. uploaded we no deterioration and records business. have our Further, to being seen in
in first the volumes year our XX up April against of fact, In calendar the May. the first and of weeks weeks were for X indexed
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an about our seeing. share like for challenges ‘XX, the to talking outlook Before a FY I few we approach would of to are
and business downturn. the we to reception that products, the we argue the It of last While our resiliency is thrilled would has our being obviously by and not the of be been with our is. are platform impacted
mistake, extending. seen still Specifically, are we push would deals, are highlight deal we closing pipeline but that Make out. we no cycles have
a have felt considerably pressure a we deals this March. adds expect We to are churn new late It our of net as in that where is result flat higher our customer down. we environment. this conceivable quarter, to may in new net adds closing slow of Next, some fewer and
to pressured. to be We continue expect results internationally our
the will there pressured recovery that And on service put reasons our will industries it’s above. possible where retention to metrics very be particularly our we Next, to mentioned expect more requests for in hold, be lag.
fortunate summary, in innovator and the feel to powerful the creator secular trend. best category In from a business very be we is benefiting which
are We industry infrastructure. Switzerland identity neutral a the needs and
time. This more than real Our during critical products important drive this is results. ever
macro and In the impact feeling are resiliency we of feeling growing. have clearly still business and We the SaaS clear. we are subscription managing we are are impact. is – of we while the clearly our short, finally, are And forces,
I would minute our approach now macro like challenges. the to a share spend and to
the I it years turned in markets know, history. became. with words, sell you is headline, was a had operational owned next ago, Amazon company’s of came control What’s next order, believe sure, Amazon. drove advantage rest. every goods bleeding hundreds fast. was simultaneously became the to rest unique and were knobs That seeded. And to a use innovation. Used was became was Pretty History could Toys went on origins absent new. the My into and out Its true. company result, with buttoned but platform AWS The Amazon days. "R" Target. positive, years Amazon’s as the now service, up Amazon days, later, Wall the ventures discussed Us CFO infrastructure of massive many though of inventory. an the cash Journal asset In Amazon’s seldom As the was how today, good. joint really XX stock the $X. merchants of customers as press XX the a early really, got company And were tells flow entered process those Amazon.bomb. and Street to sold dark the third-party got In fulfillment to The who Its It short love Amazon’s millions and seems but and challenge. hard but change free goner. Amazon said, centers
up mid-March quarters. and the been our at have us to world gathered around in company’s objectives leadership some changed, we and the what coming replanting guardrails for and virtually set LiveRamp? As team So, months
steps also culture, the move we in to the health take protect of deal new on our short-term, in and well-being but and and take and Specifically, their to would when quickly the protect customers recovery. with realities, our would company’s our our and ensure employees focus needs, actions, finally, we delight business
on and expansion. on to our initiatives new toward bottom Specifically, tighten ATS, and TV line, excellence, profitability accelerate Haven, Safe on operational and line, margin the down like top double processes our the operational up drive
and This mostly accelerating LiveRamp. We Safe Please turn These BXB. XX. Haven every Slide in associated R&D. investments show of our activity across weeks X and with built the focused planning will of investments TV, page for to ATS, up function detailed summarizes in financials plans
of we built productivity Next, the strategies boost have to in area functional every company.
practices, any this an result a as intend don’t year. space work changing example, coming As new add to lease of we
have went after practices quote where cash excited short, and had are retooled discretionary and our we also in. reducing We leaning opportunity, spend. to In we we
profitability innovation protected down and some dramatically and timeline. same have opportunities are on big in time We the doubling have at brought our
by our close guidance thoughts specific to turn Please then Slide and like ‘XX for XX. to on QX. I’d summarizing provide FY
guidance, we wanted and intend While traditional we the to implications. likely challenges summarize the to don’t year give full positives, the
rise. take-aways trends are are the favor. our net in Secular Our on
We be expect albeit FY growth ‘XX will modest. here a
improvement and Given today, we what meaningful expect profit cash we burn. manageable see
Our and economic position and our And are puts a accelerate of to and in win in great products balance the us finally, liquidity secure. sheet recovery. platform importance
of compensation guidance $XX and excludes restructuring in non-GAAP For mind approximately this that keep intangibles, charges. of revenue loss up QX, we to stock-based and million. $XX million Please operating and expect related a
In other but A be outs. it is intended our to is call QX, conservative, also appropriate. few guidance
the decline be gross Given expect to revenue, would in margin sequential we down sequentially.
of restructuring We related spend $X and of million CapEx. expect approximately $X and million
items. of for we a our the we year, the ‘XX market during approximately guidance have that full $XX on hesitate a we included market the being result Note, the purposely expect do expect will to tax year loaded warrant. given the XX. items for Finally losses. not remainder carry-back of tax our of been a have Therefore, Other to the year, year. be dislocation, Slide as receive million FY to to refund few circumstances should be front-end That additional calendar Buyback, said, we not repurchases. in opportunistic able
few questions, I a will thoughts. to close call to with final opening Before
company our huge employees. thank It make is customers great. and to this again, who First, you you a
approaching are coming we Next, of and strength. considerable a months quarters the from position
and the revenues and secular great to through of resilient. a are the in steps are solid top a We It’s tightening be time strong taken at center are our We bottom recovery and line too. trend LiveRamp. a have downturn to lead deliver to and ensure SaaS and sit at investing performance we
With that, the will operator, we open questions. call to
