CTXS - Earnings call transcript Q2 2020

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Operator

Ladies and gentlemen, thank you for standing by. And welcome to the Citrix Systems, Inc.

Second Quarter 2020 Earnings 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. now your would conference for I Ms. call, Instructions] like host introduce today’s [Operator Tsuchiguchi. Traci

ma’am. begin, may You

Traci Tsuchiguchi

Thank that you, I’d provision assumptions earnings that website. based will Please morning, like President Executive from securities Relations today’s for Investor second and the anticipated. Kevin. you under Vice Good our Harbor will we and conversation expectations that today’s joining forward-looking you remind call earnings Safe Chief and law. quarter our risks second have us materially to of those Chief uncertainties. made statements for and President Executive posted to subject on quarter Arlen David and current note XXXX be are call. Officer; contain on results everyone. Participating to Actual letter differ U.S. Henshall, are And Shenkman, These the statements the thank Officer. could Financial

these SEC’s by between and today’s A and our on financial Furthermore, of website. reconciliation the Regulation of concerning page our on GAAP information discuss available and from Investor end in on found SEC is company’s highlighted the financial call non-GAAP various earnings measures SEC. differences discussed at be found letter G. will are non-GAAP can the defined the our as of Investor website. Relations the Additional Relations with our in earnings Copies factors letter we or other measures today’s filings

our and Now, I’d the David? Officer. like Chief Executive to turn over President to call David,

David Henshall

joining you and good today. us morning and Traci, for thank Thanks, everyone

beyond to we’ve whereas at mode discussion Even economies all office versus the secure of is just work and done, the to company, the leading the geographies in experience, became this road, concept other. needs back recently to is market wherever empowering on it our the the second Our the home. reflect work quarter office, employees reopen, of moving a with the consistent when results workspace be in and position one experienced as

blends best be is the I from together physical the think their a productive realization but there to companies, at individuals with do and many style work. attributes best need environment work a flexibility that hybrid a work

this of I’ve across by to those proud locations. seen safe, of I’m XXXX. secure Citrix work a ensure technologies upon productive provided dependent like and throughout will customer all the to and our All that success be experience really commitment team

that, I’d with up questions. to So, like it open for

Operator

with [Operator Instructions] Our Winslow first comes question Wells Phil from Fargo.

Phil Winslow

flexible now haven’t Hi, is penetration, be How do like more David, to to -- just permanent strong you drive Arlen. to but seems get usage penetration users goes how number as do concurrently, up using people to of the of think about Citrix, of you the point home work it, you, on that it up have guys. work ability that? of able I also base to so work work for call access more Citrix remotely, here that start a than to and then work it you’ve question one about from to stay. call call people And base the and quarter. been license think a your follow-up that another Congratulations it, total just we’ve able penetration user seen, on your user that obviously to licenses, I’ll with growing for have

David Henshall

Phil. Sure, Thanks.

total have you now. mentioned, has I back, remote step of over of you and really work-from-home workforce you from working it delivering as economic the of so I remote experiment don’t a right somewhere now the big of perceptions think XX% over than work is quickly great U.S. mean this home, output. is take XX% coming and in fact out shifted more have working think I that, takeaway work

their to so benefit be stay. estate the about a to portfolios fascinating becoming to some us clear general is in to cetera. travel we’ve trade that see lot are realizing leaders to seen bringing non-essential going models really it’s work that talking hybrid of statistics and are it’s organizations real talked remote of really that them, So in and shows, these And about you’ve reduction et from here everything to CFOs work are

and customers. tapping new And step unique we a penetration remote across few, into means we’ve net attribute it’s seen our that ability a select the a not as take to for for base, being effectively work or chasm going now become mean, just more back, to so a crossed when much I as that well for accelerate as installed mainstream us, perk

So the that for place. in is need of of digital that people a secure, up I is should output really that all we’ve the driving engagement infrastructure that an work about And and is activity it’s constant benefit idea flexible, this providing level point think, a regardless from truly all long-term trends seen that not choose a to one standpoint, the work. that till this that is is where

it see I the business. definitely as positive So long-term a for

Phil Winslow

now Got with that’s Gates the obviously ‘XX’s obviously, it. extension when talked network if about longstanding big computers. a you announcement partnership Microsoft, was of month to the back then And the Bill could year other to just of ‘XX and I and follow-up late wonder then and this the just computers just windows of comment relationship of MetaFrame still sort sort desktop sort from symbiotic with that the evolution that on with virtual, of Cloud applies? ‘XX, how Citrix partnership network

Arlen Shenkman

Yeah.

number right for throughout reasons a seen so the well the where programmatic of is technologies. it of than and anything of and longest embracing largely platform holistic think I we one that we’ve a is these this a why decade. So of reason the about in remember. And is step the Citrix back And certainly all you extending works if can worked and take more across about, you that, all well but Microsoft now our partnerships announcing a the that’s years really technology the XXXXs, one is ‘XXs approach over and so for it’s are

the to adding value and a and approach clearer comprehensive roadmaps move make to Citrix of customers to of infrastructure much we’re SKUs, how Citrus really going simplify Technologies roadmap a to Microsoft give and help combination a Technologies that easy we really adopt think go years. then easy them to cloud, Azure joint Microsoft the together, be know as understanding it Cloud, to the that’s couple really our powerful to it make I adopt and next creating We’re into joint the

Phil Winslow

Great. Thanks guys.

Arlen Shenkman

Phil. Thanks,

Operator

Goldman Our Sachs. Heather comes Bellini next with question from

Heather Bellini

companies having Great. for when question. talked you’re you ask -- Thank for but so higher penetration back desk to rate, do actually a that to I -- you just work? was wanted to question VDI were companies big and are some Phil back that things get this of is little much -- this a they people are CIOs, are Again, questions going hearing doing go one we There is that or migrate bit what taking it’s David, the when push the that afraid a might follow-up how asking. on people to go the from lot you asked a before. away about -- to when

they’re situation work-from-home people something How conversations us be some to altering delivering instead altering can a that’s those of into that much turned compute at permanently how share to short-term first going in longer. progressed going this how thought had of just with you terms was their conversations they temporarily now the and with about employees? has you maybe this be it to feel of If

David Henshall

think, Heather, from combination Yeah. executive both well I it’s as standpoint, as a CIO a leadership.

necessarily there On that working. perception wasn’t remote pre-pandemic working side, the a executive is leadership

recognition it’s that been it’s is actually the single eye probably lot way think I a opener is biggest been in more instances. remote productive that work for of some people the

And us Stanford so noise tasks, and systems And the a employee can step a the week, security, Institute, have everything comes that one businesses work, number standpoint, conclusion the what higher help and that flexible a so of anywhere happen you big gives how are with of discussing can that is that back a of your an different the at than a we lot it you about we to of working. provide as to last organizations, help more standpoint the when of we research underlying that a that team programmatic the work, couple take that remove again, our people has you of been. day see has deployment the need then our for and a days work, the everything in between. they years from from week, simplifying a look level access, the And the record, engagement done from looking of adopting a at one and they infrastructure the and where approach is kind much Economic automating there visibility, cetera, been of significantly research et think three future to organization need regardless resources, with be constant the -- most productivity simple around you Workspace

be think I going So change material a it’s some for quite to time.

Heather Bellini

you Thank Great. much. so

David Henshall

Thanks, Heather.

Operator

comes Research. Our next Bernstein Mark Moerdler with question from

Mark Moerdler

and strong the congrats much very you on Thank quarter.

ask If related a I’m mind, couple you of don’t going to questions.

is while revenue you increase up the modestly. follow-up? was an subscriber healthcare Your seeing nicely paid Are organization SaaS Q-over-Q, per in up ARR success your then and ex subscribers,

David Henshall

using us the the is horizontal subscribers like of once they’re people value the they we like segment out and strategically SaaS capabilities. what contextual to whether with user a Workspace we’re on paid in And allows items. just incremental a to connectivity adopting. add Office of of incremental only they’re that that in broken to platform, and that every we’re virtual on haven’t Longer-term can Mark, platform whether layer the depends come We different couple of infrastructure that get then applications for all that a is applicable better solution regardless single looking and platform enterprise, by to it the forms users Yeah. onto able user they’re need really revenue or really obviously capabilities capabilities power is and full analytics, be provide XXX. to

much on where to of really versus just more users that’s the expensive everybody most trying better driving, strategically so And SKU. a segmentation of we’re put

Mark Moerdler

seen sense. COVID or makes given yet payment cash you terms software some Are quite delayed companies with payment paying and or else the or net clients strong. delays we’ve is normal? anything impacting seeing just having criticality from as operations yours Question, That any

Arlen Shenkman

Arlen. It’s Hi, Mark.

we and industries. our certainly, flow of we’ve for ability say, pretty of of but to across flow payments, usual terms I scope had as as obviously I generally, We, well extended think had of of we’ve our cash our the out quarter geographically, ordinary. would a think, much requests the had, we seen and in the around And what customer a as cash strong reflective that’s collect. very business base, really handful and haven’t the I anything breadth

Mark Moerdler

of conversion or future? perpetual short-term any Perfect. seeing term is or in term that licenses longer-term the anything to Apologize. one, yet One last are you or the

Arlen Shenkman

Yeah.

I of we’ll think certainly a on And the that’s very in in had the of number the approach as obviously tailed immaterial converting in we you year, those and next that those beginning the customers. as quarter off future. amount. year exit quarter know an second we to That’s the focused first fair be

Mark Moerdler

Beautiful. Really again and appreciate congrats.

Arlen Shenkman

Thanks, Mark.

David Henshall

Thanks Mark.

Operator

next question from Barclays. Raimo with Our Lenschow comes

Raimo Lenschow

there? on-premise of side, like, the revenue on in cloud about little a from maybe cloud on-premise -- like asset bit in well bit the bit step around that’s as talk later David, the only Hey. then in out term the what and just And highlighted kind the to implications that letter is side taking going dynamic as you Congrats just people me the well. terms about of can to talk a have pure in drivers on letter? pointed and your of are you it sweat your you a between little

David Henshall

Raimo. Sure,

a I our was timeframe. less more recognition thing QX think, plus into just to of expand sweating easiest installed and rush lot end they a as base them still it’s in put were to XX% the on-premises. just the do environment making a back for assets of of to work a is people about the that It remote

But tens already already. example. mean, those not So have interim step. said, I at came one idea of I right in have they institution that looking have now. thousands it made we we large way where cloud, the and customers our have we those no an individuals the investments to done I made the move to with think would of cloud for That��s we’re financial it’s us, have

So a cloud that I is -- there recognition consumption…

Raimo Lenschow

Thank you.

David Henshall

et cetera, cloud, matter this the it’s probably Citrus Cloud, and public due affords. … But increase individual that continue to flexibility and to of environment for will it just accelerate steps. us a

QX in cloud and were out directionally, customers focused about a sequencing. pushed of triage early of and that, number the quarter, change the of of the little seen As projects on projects, like last matter conversion just just we more larger we’ve QX. talked mode so no gets because a And a longer

Raimo Lenschow

I Like is like okay. like where it Europe, And geographic look like we Asia in looked better little lot you -- kind One follow-up doing the like more Americas. was is are the a like, kind if that at than of regions, kind you. that talk with to bit? Thank COVID other on-premise more that in subscription of can or versus U.S. a the of split the

David Henshall

first look I I the in performance the had the primary a were it indicator quarter QX, the first largest a over fact there pulled They mean, all think, so, I from up across into Americans just that regions. the would QX But blowout Raimo, the mix then there and half XX% driver more of was probably, is business that. and well QX. underneath at out

Raimo Lenschow

you. Yeah. Perfect. Thank Congrats.

Operator

Pritchard Our comes next from with Walter question Citi.

Walter Pritchard

thinking licensing falls and in wondering on -- a QX in stopping then you will how past a Hi. as sort quite of have on the October on come off never impact sales and the that Difficulty] pull-forward QX Arlen the you’re had follow-up? end David, [Technical that even bit, that perpetual curious you’re fact what X, will QX, the professional about

David Henshall

obviously -- and plan timeline. October year we is Walter, this Yeah. this comfortable for felt Xst announcing for the very on a

maintenance base business we So off as our our what plus the reflects terms of from perpetual in guidance of model. transition we expect customer activity

we about are no reflected in I business, quarter, to and have right? obviously, through fact you fourth we’re a we about taken and how quarter, thinking performance the headwind into that think going mix that customers the maintenance and the of about the licenses perpetual think fourth on quarter. it’s account, in depending So creates that obviously, we the offer when how somewhat that think longer plus to

Walter Pritchard

question curious just related on given Workspaces, color And and in then been seeing a heavy helpful? in you’re side, uptick any just bit little activity there that a if to of NetScaler would area, I’m be the attach around what’s networking products really

David Henshall

mean. I Yeah.

Arlen Shenkman

Yeah. if you… Walter,

David Henshall

Go ahead.

Arlen Shenkman

the you’re networking, think solutions seeing more of contexture back step of going. and you the I Workspace I was about way If is, more and a attach mean underlying and is the part yes, from that think, just

a versus absolutely the or just and as approach, for to a software That’s the As it’s just continuing much had to been more letter, in while we’ve is flexibility of really as a subscription in and a moved more for In Workspace story lot of place many Workspace saw uptick service approach, much real. Workspace these more we reposition broader us across trend gives our around better area, you security now. on-prem revenue. a connectivity, of the amount together pronounced of a that’s hardware right networking technologies, example, as performance, it’s

should we up but for right directionally quite into the on some that the that’s something think time. expect line, I straight

Walter Pritchard

Thank you. Okay.

Operator

from with Morgan Singh comes Sanjit question next Stanley. Our

Sanjit Singh

taking to customers or into the opportunities, do I sort to whether what a of you option hit perspective VPN opportunity to which sort customers posture. as remote devices that a users for demand remote for to see connections ask you a that those work. as for the there And focus in it’s or remote of its of size is a is time COVID us convert opportunity and QX. from or was of the real much leaned be desktop? customer seems you work replacement company about could that How Thank way David the any to wanted for sort move question. VPN

Arlen Shenkman

time. productivity it’s it’s different and think, think of is longer that I and a opportunity, it’s but to modern to a probably old the different of technology, broader Sanjit, even level a over -- with more resources a VPN employees about people kind access way actually a level this still of replacement delivering period their holistic the it’s approach a workspace digital that place network, way an of, conductivity, not of much of though predominant just nature somewhat Yeah. so a in engagement to it’s and provides

be had and so, it’s of that. place coming the It’s have companies I do on whether the constraints it’s performance about that cheap, And they’re to or just think, their then or lot relatively continue VPN of recognizing extended some we’ve that access to but other need now they talked and are a to necessary attributes easy, there people everything to just productive. give in back job that,

-- it but it more at look a time. a I change short-term benefit much in call over secular as guess wouldn’t I of So we a the

Sanjit Singh

then app the now cloud, look the what But conversation do base, points as frankly that as considerations or to they a And some have goes cloud, question, obstacles seem on sort cloud to with of are of you or through are to follow more it in that in of deal is moving that cloud just posture? right Citrix Understood. projects aggressively a up modernization initiatives to their at some to move to back they you current friction terms get there key what customer the the that, the to hit have to are environment. tough

David Henshall

economic combination situation. four the the looking I Clearly think last have been projects distracted the other just a months. it’s months, of most at in broader three over somewhat enterprises

migrate as digital easy the little we with Citrix to mean, ourselves my bit, The type an in as adopt and Cloud. public look doing can it Microsoft. there for idea partners out we’re have organization and just infrastructure both by like I great to large customers mind. at as existing cloud make things projects and just is that just activity a so timing transformation so And been a pushed you when

combination be ease as simple others well individual that’ll remove and like friction joint the just project across entire things that tools so a And migration, space. help to packaging of as the

Sanjit Singh

David. you, Thank Appreciate.

Operator

comes with next Brent Thill from question Our Jefferies.

Brent Thill

year. Good the not you the think do perpetual subs your is do right the cloud morning. that trading X% is rate cloud The holding or coming more number there you back What anticipated in the the offering up is the this customers side need QX. sequentially progressing And that’s helping that just into noted now? paid of declined of in to at anything you burst and to is you from

Arlen Shenkman

I clearly a customer users. the make decline not our think environment to TTU is that’s of who think, a large That’s bit the about and very in of you in think the letter around of said what David I reflected a reflection a motion. Brent, paid their if in position had transformation also

And engaging while know are those incredibly so, buying our of continue and it to what customers, and users. time about for their what continue to many in deployed And ultimately, resiliency and the employee they of utilized works I own rate business our guidance and number conversation you’re it that important think, in pace, it’s of customers what’s their we of base. get terms and will continuity will and kind take but seeing there the at some are that’s they’ve them because reflected

Brent Thill

Great. Thanks.

Operator

RBC question from Hedberg Matt next comes Capital Our Markets. with

Matt Hedberg

the Thanks back bit to there business I expanded you see run wanted is, with from at I’m guys. of longstanding you about of maybe taking guide in guide for tailwind just Is Microsoft to year, trying might this we Citrix my guys obviously I how assuming Microsoft? that a I Cloud? talk think assumption are with that for a more your guess, relationship about more to what of -- get Arlen you leading guess that any rate or sales Microsoft. relationship when Hi, you, questions. go

Arlen Shenkman

they and think with this and I when the Matt, roadmaps holistic around to frankly you sure of this ‘XX transition way think about is and holistically and things we’re a really the think, our and into customers focused year, we’re Microsoft in the for the I in and relationship nature. selling about as multifaceted part fair about and our at addressed of about much TTU conversation cloud. that that table of discussion Citrix transformation motions, And we’re is making So, of customer about relationship better terms approaching amount that landscape together that a think

our to So, a separate I long-term and wouldn’t impact Microsoft business, terms look it’s clearly of to think, I be our it’s that it quarter-to-quarter, but has I is to year-to-year close of be strategy a at long-term it’s it think and part in positive in going driver.

Matt Hedberg

you how basis? a offerings, But obviously, quarter? though business bespoke talked ending -- That’s are talk did things progressed really quarter Obviously, strong Could I sort not in helpful. the it’s quarter And the think you through normally the impacting just April. trend off about QX. this then, about you from guys coming this month-to-month licensing of

David Henshall

loaded and we’ve than say about actually or But out it’s type the it at it better one or why projects. see two. very back just priority probably, all And they’re while, straightforward year quarter. to enterprise that in it’s Yeah. was these mean, back focused traditional the been in the looking transformational of in seen talked on business I’ve you pushed their the was are high stable, software the environments it I less looking model. linearity big relatively of than I’d at of it’s more work-from-home second And fact this was some was year. a last that, customers so end than half are the into things reasons and a

Matt Hedberg

Thanks, David. helpful. Super great. That’s

Operator

Jason comes William question from next Our with Blair. Ader

Jason Ader

Yeah. couple questions. Thank of had you. I modeling

and And support perpetual line impact from the the sort declines? change you in seasonality positive QX? shift year-over-year have QX normal does and of QX in services from how secondly, from As in where we impact for Citrix that the terms negative see effect see a here deceleration the QX of impact further and then, away perpetual significant model, should

Arlen Shenkman

on and you in we’ve several decline, larger I clear. So quarter, as we’re look I that’s quarters. over product down and X%, trend past terms the modeling, think, a think, I been but in this our would of think, acceleration other we -- have quarters a this if can the And license pretty at Jason, of think

you So being that think as I definitely down. should about think

issue the as and the is plus think I real impacts our the the XXX. exiting business. we the mix in dependent the terms maintenance business on fourth articulated in of revenue of that, of outcome quarter perpetual that Obviously, highly

think think, headwind again, guided you I should how and us of we in exit year. for and of that our So, the terms we about that’ll represent the quarter, as thought

Jason Ader

-- And on seasonality? the linear on

Arlen Shenkman

guidance that essentially, the we’re that it’s think, large And and go in morning’s year. as on extrapolate Again, uncertainty which look numbers is economic us. just fourth there’s to keep I secondarily, still at see can the this included how claims change, we in that of talking obviously, this our seasonality then, as you us. from have jobless quarter-to-quarter and our a you and model about obviously, in is changes environment mind of for quarter the all tends you to then kind should when quarter business be included And of impact

Jason Ader

Thank you.

Operator

Evercore Materne Kirk next from Our question comes with ISI.

Kirk Materne

secondly, know profile this what in just you’re are much expect well. obviously talk work just And and client two the on can But maybe you on healthcare wasn’t color trending cloud, about congrats home renewal in going the shift are better. would very as Thanks all over able you of then, provide but anything I just they all with that? ones. to you from quantitative, I on not I any quick SaaS model. to about line you to general rates that sort a talk guess in the basically qualitative realize one quarter.

couple that a new sort selling of model thinking Just sales more about front that for opportunities environment Are more marketing in of in you towards been sort ‘XX? some a as there Thanks. wondering efficiency how hopefully term, back you’re virtual you’ve and normalized a of for on now think longer efficiency quarters.

David Henshall

Kirk. Sure,

take of parts that. me Let two

where on I had bespoke just paid our a lapsed. on the period cloud, had users be they I for So, world look Workspace clear the own customer a relatively part. in priorities time and to to mean, short has largest bound probably the mean, that based transaction the we opportunity their on

being and licenses license. on-premise a those up to to back when perpetual Citrix they’re ready in them the trade So traditional reverted to work We’ll future. Cloud

So like have I of was easy a on think of we productivity physical and effort is all lot on productive a relationships of spent remote lot expanding and think those the time basis. that as companies in be pretty established straightforward. sales a about When mode. the as how engaging other as organization, I focused maintaining a And relatively to

And so, getting that. at I think, pretty good we’re

We’re would doing of of types the same doing number physical and remotes executive briefings a a tremendous we be things in construct.

of our we -- whatnot, last rates I that focus think underlying just revenue a increasing so across quarters, focus so the talked about actually on the the side standpoint. and And productivity renewal programmatic subscriptions, customer the of When Board. haven’t renewed use change several just of of active on our sales success driving grocery across renewal The and from at probably we’ve whole renewals is is it’s underlying have a lot been a rates recurring seen underlying of lot look a you increasing our have type been any things.

Kirk Materne

David. Thanks,

Operator

comes Our with next Oppenheimer. question from Ittai Kidron

Ittai Kidron

questions couple from guys. me. of Hey, Thanks. A

X,XXX Arlen, First, think, And quarter? of talked customers last benchmark think also timeline as moving how that I a see what to then the the some any give and what are chance moved if so, I quarter do subscription, this you sort about new third one as in on there? well performance you was the follow-up the can customer about quarter, odds we a us the SSP

David Henshall

of we’re actively decision. engaged So with their it’s a third Obviously, I on think them. a matter SSP,

you think I it give and think business will I provide we there can think and don’t it that. we about time of into Obviously, time. take the will account we that. continue a just on when get I some I will guide we But happen how over subscription. quarter a mix for think work take we’ll to

a would X,XXX On it quarter. I new think, were consistent. it’s -- I we logos last year think of as or think customer, I the new X,XXX

you we business last year five eight, type as had think I of think something to a I in similar it we’re XXX,XXX customers. obviously mean, that can

terms of have broad So, customer we and in diverse a adding base. and global new very logos,

Ittai Kidron

Very Good luck guys. good.

David Henshall

Thanks.

Operator

next Majek Robert question with comes And our from Raymond James.

Robert Majek

Thanks.

you deals. convert term us what per a the short-term seats on As longer seat of understand basis? just licenses you start uplift could to help be discounted Can enterprise from to contract the some

David Henshall

be is, way to I those to know, the uplift cloud. would license consistent our the I employees SaaS functionality in we our what think think to Robert have to to customers and XX% I security platform. convert that with a get to with we’ve SaaS get in analytics, think engaging that if the they terms articulated customers obviously, as seat that them of about want on additional around being and the and And

think I of year our motion. that next we that and will selling be will happen and And start beginning obviously, think to consistent that’s about as users. those come the So into

Arlen Shenkman

to our And out Robert, tens that, ARR from if it’s I important millions we of also calculation. point remember, of a think of you lot those excluded dollars

and are licenses, to those so, be tailwind a And come in converted those permanent will to when back ARR.

Robert Majek

Thank you.

Operator

call the closing questions time. any turn And over back further I’d I’m comments. like this not at to David for showing

David Henshall

really done, that’s company, and leave wherever any joining to want office we’re you few for work secure employees or to in with work Great. get I Well, a in everybody thoughts. workspace thanks, home, place whether needs at experience a parting Citrix us. is with between. the enabling a just consistent

and first Our been supported on is track a of subscription half by XXXX. it’s model great business obviously

pace impacted As and moving large of we’ve shifting conditions to workloads talked here, by is on-premise the the likely customers cloud from the economic priorities. about today big

on going along is making and these as to easy be with possible with successful and as partners our for aligning this customers. Microsoft transition So like relationships focus strong

that it leave of course with we I’ll the many day. Have to you our earnings quarter forward the call. a on and at great So third and look throughout speaking quarter of

Operator

today’s gentlemen, and presentation. Ladies this concludes

a wonderful now You and day. may disconnect have

Citrix Systems (CTXS) 23 Jul 202020 Q2 Earnings call transcript