ASUR - Earnings call transcript Q4 2018

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Operator

Good afternoon, and welcome to Asure Software's Fourth Quarter and Fiscal Year 2018 Earnings Conference Call.

Joining us today for today's call are Asure CEO, Pat Goepel; CFO, Kelyn Brannon; and Vice President of HR, Cheryl Trbula. [Operator Instructions] As a reminder, this conference call is being recorded. With that, I would like to turn the call of the Cheryl for introductory remarks. Cheryl, please proceed.

Cheryl Trbula

good and operator, you, afternoon, everyone. Thank

their This start, of the we might business projections, forward-looking outlook I the discussion during would some that include information. other and statements number that that or historical are particular mention the are to estimates include and of made statements uncertainties company's call be outcome. subject all statements These may affect any on a of risks like this not could Before and will guidance. of made to forward-looking that this management by call

to risk Commission. actual results. differ materially with consider the You're and risk to urged file in results to Exchange and important the cause These the contained company's could expected business Securities on from factors relating reports our are factors they

our that in like Goepel, I recorded a it turn will would CEO. Finally, replay now to like Investor made remind the Pat? the link that, Relations at and to call Pat to via call be over for of www.asuresoftware.com. available With website be I available would will this everyone section

Pat Goepel

to for earnings in a we so and the newswire, of our made and this hour the Thank again a was the apologize it's was played you, like to an to a today and the part welcome band I'd system well. glitch call rules. had band But concert -- probably Newswire and had happened Cheryl. played very waited public What about we Global SEC had I irritated. recently we I and I everyone. And for went for be and

follow the to We rules. we patience. appreciate So your want

right to get to Let's it.

an fourth call. everyone want to for whether valued Asure call on you employee, your interest, year We earnings client, of investor, are or full interested to and analyst being First party. we quarter the appreciate thank all, Software's

records quarter the marked Record for cause highlights. EBITDA We -- quarter to record gross several and of record profit, revenue some a non-GAAP drove financial And booking. revenue, cloud I record record First recap of strong the all, fourth and XXXX. year.

we've a And recurring the compared allow of for journey that and XX% years visibility us ago. our does of revenue now Importantly, represented strong been is future. years this XX% revenue two mix what to as on just couple into

contract focus up having In resulted addition, from I our of elongating And in really over duration years. really, in with improvement. is in visibility long-term that's X% new over driving has XX% with just that am our our pleased two terms deals XXXX. dramatic

revenue up XX% revenue grew in in revenue over increased year-over-year. $XX of the also just as XX% is is total ago. now represented from grew Recurring XX% XX% mix million. total cloud cloud of mix XXXX from years a which revenue backlog high exciting. very approximately two percentage year-over-year margin XX% XX% ago. And nice Looking at over for to XX% years full of the just year, uptick million. two $XX year, and revenue growing Bookings a also the revenue the XXXX The was is

grow in continue XXXX. accomplished that we we XXXX to We we're what are pleased and well opportunities we're poised to pleased feel in

Moving on wins. to some client

some During NetPayroll, Centro In Motors at Assurance, wins York Bank, Human and and and the we wins National Mazda we Prolong Capital SAP Recreation, quarter fourth Hilltop workspace, secured Pharmaceuticals. New had Management Parks including America.

sensors XXXX hardware these a offerings the our industry-leading also seven our intelligence including pervade service We've extremely year addition new we're enhance And in scale coX, and cloud-based and analytics refresh the us truly clients clocks, had value panels as addition our all business product time sensors. solutions. of meaningful growing will in of also it as factors we These about next-generation environmental that leading closed will the lighting, portfolio hardware Asure. excited improve all enhance within our create and plus generation and We platform, large recognition, hardware building our hubs will our to devices our a was driving added facial the in kiosk footprint meaningful area, enhancements to drive offering. what busy monitor the Within technologies with enhancements United of new our in that our believe clearly marketplace. and our heating, to more conditioning air such across States. to acquisitions and new for the separates workspace two

open Importantly, up opportunities these acquisitions cross-sell many us. for

amendment Omaha, January This is have we she our then forward. business, ratio Payroll We to will acquired impact agreement harmonizing on continue metrics and to Nebraska. financial and And XXXX, as covenants. also big we as into we last Maxx Chief our the operational our integrate respect over a Rhonda Payroll revenue efficiencies across addition our Goldman Operating a full-service kick-off Asure's provider, states a leverage also executive to focused XXXX, more and improves both processed to flexibility all of business wages as quickly clients can them bolstered successfully to revenue billion that of grow with Maxx, improvements. HRS with $X In managing in initiatives. our and mid our Rhonda's in our the servicing We and flexibility We resources reseller realize and pricing team our XX headquartered Officer to for industry-leading for Fargo Sachs Parouty on employers the finally gross a anticipate year company-wide. platform. EBITDA have effectively and annual the credit the in to small country Wells allow amended

of acquisitions don't be XXXX. but Looking acquisitions to that we'll to opportunistically, of I at similar expect look to the continue ahead, pace

of that optimize level retention for high is focus and initiatives cross-sell maintain lines cost key our infrastructure primary to the success Our client leverage up clean absorb and the cross-sell with across products. to the continuing will while A to priority resellers, us structure our we business a and strategy.

detailed Kelyn more financials. to a the our Kelyn? me call discussion let Now of turn Brannon for over

Kelyn Brannon

Pat, you, good everyone. Thank afternoon, and

Pat on many fronts As made we noted, the year. progress during

state discuss are measure. non-GAAP financial today unless As usual a I reminder figures a I them as all as will GAAP non-revenue

As always GAAP increased today's in find results to million revenue XX% $XX.X release. in fiscal you'll $XX XXXX. non-GAAP from million to XXXX Fiscal from reconciliation press

XXXX the QX, the revenue increased to million $XX.X revenue quarter fourth for grew and over XXX% million QX revenue prior last Our XX% Cloud of XX% year. In grew of from QX XX% $XX.X year-over-year. year sequentially. in Hardware

support million pleased in large are we QX noted, services up of million, are Professional million was from quarter, $X.X of the opportunities is revenue was year pipeline develop in but Maintenance quarter. Pat that ago seeing in the up from in and XX% million growing area. of hardware with in revenue the XXXX. from million this XXXX, we As $X.X prior $X.X $X.X $X.X the QX down

as And As of to growth before, the services a revenues flows reminder, our that our shareholders. we I've enabling services is ebbs factors. use as on to drives and auxiliary value a which discussed function offering and real variety an based cloud

funds that clients. income on when you'll This Lastly, we we've new a for line inserted to revenue note investing receive revenue called related statement. the held is income other

growth have While drive new this in XXXX. we to some XXXX is amount, and implemented a this additional currently area in nominal initiatives

cloud visible, towards the driving on business focus focus to continue revenue recurring, a company. We

in of Our revenue total recurring QX improvement a fourth of XX% XXXX. was for the from XX%, of revenue quarter as percentage an XXXX

as months. XXXX. terms. XXXX revenue towards of a longer XX%. our step In from XXXX fiscal in model, from contract we're that seeing and recurring percentage is terms This contracts For XXXX, from XXXX. had in XXXX, total than also transitioning just up but This XX benefiting greater and are revenue significantly recurring of new X% only XX% in a XX% up a XX% were revenue we was in is XX% Not success

securing We visible at with recurring revenue. are longer-term, pleased our efforts more

non-GAAP and XXXX, $XX.X impacted our Next, profit gross of normalized in to would metrics. was the impacted Normalizing of in margin cost few to XX% goods. been quarters. I'll XX.X%. XXXX. past gross QX margins XXXX non-GAAP increased the a reclassification but of equating compares gross or to for This of XX% non-GAAP XX% occupy which $XX.X this XXXX completely for by of margin QX to of reclassification million booked QX discuss have QX of gross margin XX% Gross million profitability a QX,

was Given XX% in to our along XX.X% XXXX. hardware in million, increased was in gross HaaS future. XXXX of non-GAAP million non-GAAP expect XX% from with the near of HCM we increasing mix, EBITDA EBITDA $X.X of revenue versus margin revenue percent as of to an the and of of range Non-GAAP $X.X mix increase QX, XX% be XX% QX year. in last a QX

expenses one-time acquisitions Non-GAAP fiscal XXXX year level the million increase an during totaled influenced in year. seven by higher of a plus EBITDA the of million, of XXXX, of the $XX.X primarily from XX% XXXX. non-GAAP $XX.X was EBITDA fiscal For result completed in

EBITDA these one-time continue and As net In we we XXXX, expenses as million into non-GAAP assets. non-GAAP $X.X or to integrate income diminish we $X.XX QX, these look improvements fully share. per totaled will see on

and more investments December acquisitions both is seller business XXXX, was for was deferred ahead XXst, beyond unbilled ended labor the Looking to Cash extent and prior note guidance the performance. that sheet. XX-month in of million. our X% a deferred million. in reflects months $XX.X million December some million. term XX and million the year-end. from XX, point feel million. rate sum as and and Long we the inventory is unbilled gross on quarter. were actual revenue which short-term includes workspace our exceeds Cash fourth of term next contracted and primarily non-GAAP multi-year at we XXXX, deferred still closed long related to our short the effective had $XX.X over measures $XX was at XXXX $X.X within management to previously. million debt. $XX is or December quarter, a QX we deferred tax balance time $XX.X Short term, horizon revenue usage short of including several which backlog representing At Total appropriately million. combined we currently XX-month revenue deferred both sheet to off-balance-sheet Shifting in first revenue and XX, this unbilled investments the expectations This lesser as revenue decline unbilled $XXX.X and payments gears and At backlog the balance define but Total long-term at that period quarter $XX.X

Headcount level to cloud able with organization. synergies are nine visibility in our year headcount across on by quarter. in realize XXX XX bringing recurring our total days, ago were we our employees days revenue. as the down enabled by We from QX QX was DSO XX the to sequentially pleased in declined focus of

as additional expect synergies head We realize we XXXX. to into

our I the Pat, to you Before update to want back activities. call I turn upgrade on back-end

ERP new by the is and the track plan NetSuite Our on of up implementation and to capabilities running we have majority mid-year.

our XXXX. hosted Additionally, support Cloud fully the will by on AWS be platform client mid

Now I'll turn the call over Pat? Pat. to

Pat Goepel

Kelyn. Thanks

our our to guidance our million $XX as XX% EBITDA Now XXXX of QX non-GAAP which Recall we're of of for million XXXX to of equates we I'll margin guidance of to to $XX discuss updated $XXX guidance $XXX EBITDA with plans and million million. revenue such in XX% of reiterating XXXX. an

Looking to include ahead expect also does generate any flow flow to acquisitions. to positive expect from the not cash we for the first from guidance of future outlined XXXX, year. the that we as positive to be Please note we've cash quarter full contribution operations you and

such will We guidance revise closed. after acquisitions our

on an will be While we targets, opportunistic pipeline we active of this acquisition front. have

that of the to acquisitions As XXXX. I to of be I mentioned pace similar earlier, expect don't

and primary absorbed of keenly entered our very the our as resellers XXXX velocity Our cost up of with cross realized momentum business. and We our on solid focus scaling structure. clean are some efficiencies focus accelerating opportunities we and additional out selling is these

less years. have at than has XX% the XX% the feet didn't to been the on of have tripled time, new two also while hire and We headcount enough years, to growth. over we our growth drive per the reps last rep same organic deeper productivity up year this year-over-year. last current additional enable clients. our At simply business and sales the sales sales in overall street rep both penetration kept our We plans two to We've XX%

XXXX, our year. about We'll get XX them enter we to growth. we through As re-accelerate anticipate new sales onboard hiring and reps trained organic the productive and

product improve cash Our recent selling our show ERP in adding while opportunities, overhaul completing and absorb better infrastructure. XXXX is also cross improvements invest margin experience to on focus execute in to the and AWS system our improvement, generation, acquisitions, our

been in as turn more from In long robust. execute will we never benefit closing, current and depth of the both product in Asure and additional term. has our near suite scale offerings the

bottom-line and And and to really top-line both Operator? for your with leverage. continue aim that, for growth We your open questions appreciate we're interest.

Operator

question with first Scott from Our Needham. comes Berg Instructions] [Operator

now is line open. Your

JoshReilley

in product on per Hey, our hey to or discussed what $XXX else up for some Josh drivers that the January discuss full internally you that conference could And you Scott. this overtime needs guys few employee you on At be make Can take to number happen? be the done years? the is per over year to the up of suite. potential get Reilley next if to

PatGoepel

in sell I for XXX Yes, we about had company fact, recently Scott. which $XXX. Thanks, $XX,XXX think annually employee is

walk Now HR what included opportunity It's what's to management was is Cobra needed and and if payroll, It's it's administration up really $XXX that meal excited start the you recruiting FSA. to payroll, call is what that's even what about have HR, you attendance figures. full benefits, I'll cross-sell its the so time deal. so those space it's really

we but integration we train and continue every have salesforce that on deal. sell kind make we of have as Now potential. the with We still don't the progress that to opportunities,

JoshReilley

And me. question another great. Okay, then for

you've as or that been to on Now basis the a buy subscription sale? quarter prefer reaction they they for here selling one-time what's or initial Do it the the customers? prefer a from solution so a hardware

PatGoepel

analytics do Josh, want model. we service hardware focus they both. device per the off they takes right a where really on profitable It less and have we the price the and that is to focus it. believe revenue love now cloud that flexibility the to the on is around the And

outcomes the looking less of for. hardware, cost the about people they give that in And which the about can uses So gets the is software our when driver it's the value more solution the that package -- analytics. a use software is they're we and

flexibility Josh, The And have clients intensive pay to have do. an well. real budget. of thing, the a over could the for purchasing whether it of half when as capital it not operating we to for drain pay as like or is drive to the cash we're is a time and to estate cases their get exciting they have of other ownership case sometimes them What for they pretty hardware such a cash in have of have cost huge that's budget is it but in benefit trying not some what in And management outlay. where can it's to capital

And quarters. perspective. we've as money that got years some service seeing growth we're for refresh a So of drive in about pretty excited in remind which repetitive future forward spent in possibilities success we're area. us We've the a will a hardware on inventory future some reasons. you that modeling going for those I that's and nature the hardware with from

Operator

comes Our from with next question Canaccord. David Hynes

open. now is line Your

DavidHynes

guys. thanks Hey,

kind what in sequentially strong the Sorry drove to for strong the decision quarter. past the about headline really or on catch-up Subscription talk the what was catch some particularly quarter noise. you want in ask of decline? acquisition. about forward? that cloud the cycles happened Pat, how the background revenue think was numbers --they obviously Can on going or side, were about composition. revenue of cloud from then a function with that In somewhat declined hardware elongated there of should and the touch the was hardware and with And we sequential up

KelynBrannon

is David Kelyn. This thanks question. for the

the and back cloud. QX some made So were and QX April that impacted XXXX in and and services of there really we acquisition had professional in is hardware QX what of between OccupEye misclassifications

entry get proper So the did categories. little in QX. aligned it in a a cloud We to revenue and QX overstated catch-up was QX in

and been sequentially were up X%. cloud QX, retroactively to revenue apply QX it have to normalize So about would and that if you

DavidHynes

it. got Okay,

PatGoepel

David elongating that pretty of to our did and good is benefit the odd the question bear gotten continue in strong. part a second third little continuing in We will cycles. deals cycles your in just forward, fruit going XXXX. from believe pretty --some sale sale pipeline some from bit Xx an is up we elongated which We've and that but quarter,

Now are with model. nature. Those with repetitive are the HaaS by and those the model cloud

what that integration time build but working feel far the of over they we had up. So as acquisition we're blended kind as through we

XXXX first half working We in year. are and the that through for of the XXXX

we pipeline. So about good feel our

DavidHynes

I that? COO operations Got and perspective? the kind about with focused assume us you seeing can now up, it, are execution then that be but new make from what the could of initiatives XX up-to-date going in think exciting. help on me Maybe maybe what plans they'll reps you're Obviously is sense. kind in XXXX follow cross-sell maybe the, seat of talk in an terms forward? to there of hire directives about And

PatGoepel

Yes.

First and we as a how that the then centralizing some obviously Rhonda do far tax is we focused investing and model perspective. about operations drive model. part float cash other even One and talked things do functions of that where we of back-office around have of the the AWS we ACH. take as the centralize on operationally all, really drive how really banking, we're that,

So what's and States whether how , these kind background have the the coming across then she's across people and response what of implementing metrics from entrepreneurial the best-in-class of the that base it's from it's Software coming Rhonda's knowledge time level harmonizing HP that's et doing a of And and an United calls, businesses many on we the versus is an focus globe. what country served service across pricing, it's around phone whether kind cetera. client Asure hit is whether now

sensors. client on is really or had around the space stake the but have were in our XX we only progress, I conference in folks cross-sell go to how then starts We on first up and the kickoff in and leadership -sell that not And analytics, initiatives XXXX. And there's in big in say focus cross our management, far good approximately and cetera we're sales that client global sales tremendous capital those of the some as conference suite. whole will getting XX% HR then on national trained -sell the or quarter initiatives. conference would there in of time, here Asure with lot integrating the client the focus a XX% to value the the human cross the we reps Of had but on et the that. what hardware the around we them. as across -sell it's do far As as really base we initiatives, feel our and a really June. throughout cross package, software are And thought we management, payroll continue done exposing that products And some services ground being clients all to year where build within and the the display in for on the

Operator

with Wood question & next from Derrick Our Cowen Company. comes

Your now line is open.

DerrickWood

I is organic were Great. Thanks. a wanted going a Pat. to going driver. to drive hiring reps factors of to kind --it's growth? sense what going to to get Clearly, big sales be reaccelerating

how the a So sense progresses and is can the are lot of shift and you the in parts land when about far? --there subscription you a moving and a Where motion. year? workspace that that expand And more give think through model of us you in then so QX

So the improved to do model factors see you kind progression out these growth? and where organic of normalizing in

PatGoepel

Yes.

million were on force time year. million. or if if a it, haven't than XXX%. less math $XX in all the two about year our First back We've that that's you finished during probably only company years this XX% per step and organic but sales $XX done ago. We about growth grown XX% that space on I of I we think

the which great with productivity So sold simply our people. XXs stat. we productivity, well a enough is rep have in I have has the think We just didn't sales sales been because

up when I so. XX% acquisition is the Now at in specifically space look cloud our revenue or

growth. to we're get starting So organic

and accelerate on focus as the next-generation I as initiatives, think well the hardware it the initiatives analytics. will given

as So it's product the as well place. into amount of cycles are coming about having reps, the which

hardware the those now reps; but HCM, has be that'll repetitive been a or Now of hiring the focus so of XX the service. offset on we nature as In somewhat today. because really have

we're product way we're sales through. with from So coming the a reps benefit products quarter HR about then a continue of cycle, new integration. and add We'll products those to out

by the the lines the add product of feel refresh second to that year we we hardware hit the are So portfolio. appropriate reps. half have starting the beach, sales we

Now continue grow, that we're to XX% repetitive time. in to position but plus a with revenue again happens over

And the focus. our very simply been that's scale. happy so we're put, And with

organically but the pace. Now continue kind of get and at grow will a more efficient measured continue focus it acquisition to the then and then strategy, be start

DerrickWood

What what great positive for from cash that around to Thanks. levers Okay, on give that flow? like us thinking the color can color. it sounds And the you're flow XXXX? you improve target Kelyn, is Or are this going some cash year.

KelynBrannon

I what move and in to see is any not of this Well, rank, going you're bring infrastructure to up AWS. think but kind our stacked think I we as we is

over X.XX% our although lot start they're because want which client You're to And a more synergies say our to to banks. X.X% And of will to projects going interest we like move those as rate, to we're if forecast XXXX gradually We do getting kind million into on one average start to $XXX more be I've going million a the in that have up. investing and it in I modeled of savings cash XX a diminish clients' laid is funds. out these to plan get see have through of the or a funds. we $XX not times we're

our in accounts business, projects stop cash We infrastructure that two of out. getting on that and up taking so these The well But kind HCM the time say harmonization. to really consolidate as that move cost have it. and XX it's and I would as to it's spending reductions

Operator

from question Street. with comes next Lake Eric Our Martinuzzi

line is now open. Your

EricMartinuzzi

Yes.

or a to of on you start would see related. seasonally is QX question from First QX year basically guys just revenue in that related line year-end QX, of step-up sort the

of in that might Maxx if -- January all, and And hold it second first Payroll of I'm is accentuated of acquisition? does all, it that more acquisition of wondering true? because be trend the the had You

PatGoepel

up --I how Eric couple into but expect I go to from think, would intoQX, don't the quarters, I for it. and if step a deep QX we- see We too million a that guide would would I see want that's

a So step up seasonal well. as there's I do think

KelynBrannon

that to our realizing right has gets W-X to That seasonally add of highest churn. by QX time also But churn effect disguised ACA. one and the

EricMartinuzzi

And question Okay. also well. model a related second then the model related, is as

Given as throughout the the for I the guess of EBITDA other sequentially anticipating, in seasonality revenue, driving this as you're the part XX% moving you've the given well and of stair-step year Does the us of on we XX%? the the that to be efficiencies Should business. kind that margin? year an

PatGoepel

we If from away stick or uptick kind of a called miles not towards slight year. a so a we're it's quarter anything more hockey first little flattish X.X% to guide bit the million more over

Operator

Our next Company. & with question Dougherty Hamblin comes from Jeremy

Your now open. line is

JeremyHamblin

the of equation. questions ask couple to the side expense wanted on here I a Thanks.

just significant rest such a fairly an of Q in the Can why significant there a double. the items in we quarters those you SG&A in you've in addition of more any What given that seen stock saw revenue dynamics saw you jump So in the wasn't side? pretty of we than jump and comp significant increase XXXX. behind the increase on saw discuss and kind such two

KelynBrannon

penetration low on in expense kind we that issued the have pretty within comp and So RSUs were options stock We of company. the additional shares.

to some stock of meetings the an comp expect bringing grow, I'd especially should of think company. about indicated our part see as my talent that tool. we analyst important recruiting new as It's So that the we're you into at

going therefore stock to continue see up. to go So comp you're

in driving above that And really and acquisitions savings from the more sometimes I'm comp that, oh we little good if stock of a in there. And came ,I on anything unusual harmonization SG&A, to drive six have also months think to just stock a -- is As that hit was therefore were for excuse before always comp me what the forecasting. with actually came out thing. and higher we're a has trying lot so you three bit to accelerators in spend nine a than from to SG&A there do to think we which commission the

JeremyHamblin

Okay.

the level kind should in XXXX? thinking on rate So is say quarterly that to of run be let we the that normalized this based be stock comp, $XXX,XXX going here

KelynBrannon

What good assessment. probably I'll you I say term in certainly a if something And see I changing near would know. the then let that's

JeremyHamblin

remind so and is associated then again me then the Okay what with change in headcount that?

PatGoepel

in change were little actually we down bit quarter. The a headcount, the in

a best-in-class companies. I trailed our is recruiting and the of stock a in think commitment really from many comp vehicle

leveling upgrading talent a are We recruiting in and different and up in number of areas.

And so stock. and stock our comp part with restricted of offering that is

So as we've had management that philosophy as at the the level, board well level.

talent it's nothing so around Company And $XXX has best-in-class attracting really million that big aspirations. It's more that. than

JeremyHamblin

balances didn't January. catch to-- stood just wanted Got the gross in Could model deal post --I you didn't get I cash it and it, the And I debt quick. my here where then you, thanks. mentioned in you

KelynBrannon

the the I the at Payroll Wells we of million actually Fargo, $X amendment about actually quarter We Maxx all the XX/XX. think results. Goldman to down of on an the what XXX.X DDT would the with but in be that. we additional We seller's debt if refer disclose that then And gross release, component arrangement disclosed pulls did and be not note talked debt press delay first that a then there back coming it at you the would was also

JeremyHamblin

Okay.

gross on basis. roughly a a million So $XXX about

KelynBrannon

Roughly

JeremyHamblin

down under down thing your it basis million I did revenues suggest looking you over sequentially which year-over-year And from just you well. Okay, was that and last as that that? a million $XX just color little on to like $XX the all at on to tend provide think on Can deferred a then basis right. little a track an to annual just

KelynBrannon

know, as the in half first the we've you really multiple going acquisitions. of this of one been the that still year from and XXXX So up things of data through these cleaning accounting

think two the in a and many quarter. If we've years acquired some how XX last about you

found we where a we but as so to prior wasn't to revenue that therefore kind was just were we of work there And was related up that able lot so and it revenue some that through deferred schedules, hung recognize years. the

Operator

comes Research. Colicchio question Barrington next from with Vincent Our

line Your open. is

VincentColicchio

I Pat, know program. Yes. did but versus perform it focus it's of expectations? now last how quarter I a your results know cross-sell your sure right little came your major not bit

PatGoepel

pretty right pretty a of the really We're year are about We excited product expectations. about in year. or I also fit middle where we excited the the products delayed part think finish we bit say We're of cycle. two XXXX a on were scale really would in life the quarter I is about the up. and We little pipeline which kind within the

So our which pretty complete first here the quarter. to hardware also We're off have the a cloud good drives in start of we refresh revenue. some

So good up pretty we people go to the ready and have we we about scaled cross-sell feel feel initiative.

are That's year. Our builder sign-ups a good June momentum in high. early really for always this us client conference

heads think I And trained think a for for salesforce now and in additional the bode sales the a has the of couple the been product, acquisitions, XXXX well so well and leadership future years, us. combination I for team in place the

VincentColicchio

challenges then an wondering in was any NetSuite business that intelligence particular place. of And I track. us the mention. can And you're you if Kelyn areas --most that were with the you systems was any it mention on didn't was on you putting give if update there

KelynBrannon

absolutely. Okay,

So no real surprises.

the around a it that were delayed one to think put was consultants thing help in. that the we I utilizing us us little got

QX hopeful it that week. to even up expect next And to the results in the of might I'm of be consolidation mid-year. I able do by bulk have We the in fact,

most should some be mid-year. the see part we stood up QX in of but will We additional of little for a by functionality kind rollout

PatGoepel

multiple general Domo think enhancement modest the Interested for analytics understanding we note, Kelyn, business this. also she's sometimes that's helped company we really ledger what to implemented of both made. But and our but salesforce get like And across good the reporting about I a too call the the the And feel business system. ready we're the getting really packages. acquisitions that starting out that's within and

KelynBrannon

the about analytics tool. we others, other also and for FP&A we would you use asking which say Domo selected I only Vena planning were our is the

VincentColicchio

that all last Kelyn. for color. One Thanks question,

two gross the the the year? margin Maybe should range. quarters. You a we level help Could for what us you target for mentioned next

KelynBrannon

be that back-office. have middle are on and fact to given End the takes on consolidating conservative of use in the us. revenue has of XX% and might that to side mix on into the now Q&A also that the the and play Right that the XX% all harmonization would the the we HCM impact of I

Operator

over to Goepel for I'm would turn you. any now any showing call at I this questions Thank remarks. time. back Pat like not closing to the further

Pat Goepel

I really the appreciate time on call. your

unfortunately little bit It that could that We we bit glitch given really, late a are not sorry appreciate was a a really we your time. started we started little late control.

I quarter. really fourth in strong had think closing, a we

on you forward your pipeline to starting of and the be think fruition Some start. off for we seeing And next of strong resolute focus to into kind to the is today. is come calls. and we year a we're future to time look over our Thanks going

Operator

gentlemen, disconnect. day. a for And have thank all Everyone today's participating in program. does This Ladies wonderful today's conclude you conference. and may you

Cheryl Trbula	Vice President, Human Resources
Pat Goepel	Chief Executive Officer
Kelyn Brannon	Chief Financial Officer
Josh Reilley	Needham
David Hynes	Canaccord
Derrick Wood	Cowen & Company
Eric Martinuzzi	Lake Street
Jeremy Hamblin	Dougherty & Company
Vincent Colicchio	Barrington Research

Asure Software (ASUR) 14 Mar 192018 Q4 Earnings call transcript