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CynergisTek (CTEK)

Participants
William Barlow CEO, President & Director
Paul Anthony CFO, Corporate Secretary & Treasurer
Matthew Hewitt Craig-Hallum
Jerry Wiley Wiley Fund
Avi Fisher Long Cast Advisers
Michael Potter Monarch Capital Group
Call transcript
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Operator

Welcome to CynergisTek's 2021 First Quarter Earnings Conference Call. Today's conference is being recorded.

Joining us today from the company are Mr. Caleb Barlow, President and Chief Executive Officer; and Mr. Paul Anthony, Chief Financial Officer.

and formal made like webcast, on regarding financial the that remind including begin others, future statements among some the results we presentation, to I'd everyone those are Before forward-looking. prospects, industry call and differ and the actual are can as from terminologies call. number subject materially anticipates, could, to by expects, results or will risks of intends, forward-looking a These forward-looking may, in identified uncertainties similar described use cause the statements would, be to that such could believes, expressions, those of and conference be risks in SEC Certain uncertainties of these and detail are company's or the will described in greater filings.

its update the to Mr. otherwise. of and results, not Please occur Given future undue statement should place sir. information recognize to under or not as anticipated. or obligation that which go may Caleb CynergisTek are this listeners obligation any and such future I'd statements, at disclaims alter risk is result a over and ahead, whether the expressly should to new of the call forward-looking reliance now time, on or as no any events Barlow. forward-looking And turn statements uncertainties, like predictions

William Barlow

Thank you, operator.

a it call. part month reminder, little update that was a an a of we provided As ago year-end over as our

as our are and opened we on great a see revenue And pressures up been vaccinated So grow, coming normal to downward in to return of of we've today's started Budgets momentum to out staff again that returning, will signs really in face-to-face travel. pandemic-related to of a continuation easing, see of QX. fully safely our discussion that are be dialogue. positive continues and We're the continuing are pricing now clients it's clients. many pre-sold

providers improving in opportunities we in As which an anticipated, of consolidation clients. all across vulnerabilities industries operate, existing seeing new for and awareness growth which security the in healthcare of also increased we're creates

ultimately expansion of announcement providers closed and QX. with of locations this closed the And a or and add-on renewal with this example our was us. Now raise opportunity the a healthcare additional healthcare great affiliate services of recent which business system. thing acquire Look, their consolidation expansion, to an renewal leverage that of when $X.X highlighted other is a is amongst was customers to and affiliate million the think QX our good I for in a entire organizations in maturity

half we're year. We're been in also CMMC Department of to work trough second revenue of As program. business be guided the returning is that we've our between Defense's the Model a this doing synergy starting Certification expected first see growth QX offering from services indicate for under and to in signs for early And QX, healthcare to Maturity of the the year perspective. prepare or the our Cybersecurity to half

resources. concerning sector, business Pacific You our veterans put, healthcare chose see, This due is certification. eventual need the improving our government of strategy integrated to healthcare healthcare prepare recent in they several unit are a leveraging our sector Medical who noted with hand while network, as our our a for Redspin CMMC. our they the military recognizing be and assessment readiness compliant independents, Simply the conduct announcement to in multispecialty grow CMMC support was clients do to will too also existing to they reserves, active of in that in existing Centers, primary work

changes using the that Microsoft federal will commitment security shutdown at to force government's the at all to executive Pipeline developments, down order the sector. of posture in reinforce contracting has administration U.S. the aimed Exchange tighten and issued of against that its supply cyber Now trickle Colonial are attacks, an the SolarWinds, yesterday's the Biden related like likely to sophisticated to defend while ones much the incident process helping itself with announcement chain the private the recent starting federal

of resonating both better be with and an the past first our CynergisTek which verticals websites Now role investment for is our very drive of say enterprise position I our experience brand VP messaging more also excited and Redspin by is QX, advanced marketing our managed also developed markets. Initial validation pipeline importantly, want in of strategy a testing to opens well door important will health and first growth being services adjacent with support and shift to messaging services. to our as expansion mention our to including services considered that to Better establishing phase of to for to adjacent the over leading the to earlier systems. the end user we started larger our positioning of the we look is services, by that strategy elevated This complete, this needed includes marketing our marketing we brands. new the advanced marketing in in more year, company new I'm the year. increasing clients. and And

the industrial be headed the relevant to the have and pursued we're of over next capitalize X where given the a annum companies and confidence expected the XX% that addition base. more to We complete. which grow transformation cyber X have sellers sellers. initiatives completely new total our in per Our to our be who is one multibillion-dollar pandemic company opportunity, the to expand multiple us the about experience emerging direct we good years, to outlook markets, to changing adjacent largely of on market, has the the retool and first Online, securing to defense we in healthcare feel efforts bringing with used business

is that turn years. Paul. translate into grows a profitable it at over double-digit me the to this business to a CAGR expected over With of more All let X that, next

Paul Anthony

demand to from providers on greater the The of to our additional Caleb. coming revenue $XX.X strong continues total million, by metric QX, an following healthcare out Thanks, due key grow, the pandemic. to $XXX,XXX increasing

by reduction year-over-year earnings cost saw almost improve efforts million. $X we Additionally, our

but and the but pending Paycheck quarter by ended Our registration. the beginning-of-the-year issuances still that million end other from under word that of sheet debt under the Cares $X last in burn expect year, $X.X shelf a not still we the the have the the Program cash. expect back balance the Act any million our QX. majority have received Since to QX software in are for employee be forgiven, benefits in we loan qualified and under have we to QX $X.X cash has under million traditionally the Protection SBA. additional the retention will taken from was the of stock offset this ATM, subscriptions We and provided annual credit higher outlays, cash due with

from The an staff of from about in expenses delivery for travel in improvement adjusted and to to reductions, who to from expense margins to delaying disclosures, same losses compared to talking of by due support lower was headcount QX. credits. customers the The in $X.X payroll point employee spend costs the $X.X also are as XXXX increase tax and XX% We standard from revenue $X.X QX expecting to Gross from the and professional the reductions, $X.X $X.X at from the this This due for benefit continued in a million the sales the or Consulting the XXXX with lower or period as gross was less calls. $X.X the Addressing to as carrybacks renewals, pandemic marketing when revenue million to is is which million and completed costs contract XXXX. reduction of the customers retention to due had This decrease well revenue XXXX. due travel exceeds the was marketing canceling customers credits. services XXXX and $X.X to and for We a our margin of million been possible, last million XXXX expanded extent XX% refund we've investment to from decreased decreased similar sales still when go-to-market to higher level QX over year in to XX% support financial X $X and net pandemic. the to new million due compared costs. activities. partially minimize XX% marketing due to on employee available customers to from in These and XXXX increase decreased the that $X.X reduced impact in QX excluding Sales and couple expect million the the work million to QX which compared revenue the some recruiting decrease benefit offset lower retention prior services, XXXX recover our of less contractors. third-party half first reduced the an had managed were by million. efficiencies business result QX we as do to the as marketing

the year compared XXXX, reduction when or XXXX. credits retention pandemic to do XXXX that million financials for start expense suspended EBITDA million release continued In expense in a retention to a last reconciliation to benefit our to employee adjusted provided flow $X.X with employee from came consideration of in $X.X as This last use operations. under from the we we non-GAAP was Non-GAAP as can to today. to going our G&A Our reduction lower GAAP out quarter's from The last taken the shows in costs, million reduction expense aggressive - strategic the higher year, loss the efforts revenue, to net XXXX $X.X decreased advisory due that information million professional loss, gross decrease and in results fees drop recruiting when took and being this and due taking steps in the a EBITDA into be by in margins, is to respond the QX second year. and year of the benefits G&A some continued well loss in full in half QX to to reinstate we reduction employee year increase Cares adjusted to $X.X We improvement the were earnings Act. expect the found again for cash away. travel credit start the summary, as in our compared

prepared All going for please of of rest of well open we the and the Operator, rest us QX. the floor the XXXX, are This the where improving for remarks into things throughout this the questions. concludes seeing financials year. positions

Operator

from [Operator Instructions]. Capital. Craig-Hallum Hewitt first our question We'll take from Matt

Matthew Hewitt

attacks. you But a your frankly bit nature. flurry die And have and in in more seem off. and be these release curious recent recent press the these I'm in potential off, sensing a mentioned your those the change from maybe the customers regarding created in in if and critical that quite things then But you're and are discussions you to to And kind attacks the of an of prepared it's seem when first remarks. seeing following past, a activity Maybe little customers impact pipeline?

William Barlow

question, Great Yes. Matt.

of the to what we know you in up something But your in our that ever They're time having not to U.S. the Scripps more is They're starting terrorists that the I proportional time, to numbers because ransomware sector. private the not I XXX-plus less incident. enforcement, sector have the Health to same it. that see it's with realize want when these either. context, entire So thing this traditional year, of order. tie At that's occurred do There mean, desire people. they is government we're are a what massive U.S. portions right? realizing They're this, think process bad real in not right? time, way to of any to incidents do. whole And And to X I at expensive Vermont preparation creating that I We is the awareness a necessarily was pipeline mean, This though, level, use the criminal sitting now public law in to the have out a up and economy. to think I be one me, to level response changes. what different don't starting cure, Guard call U.S. look, with same is them. But to yes. Coast to called in costing a short the don't ransomware impacted think right is to normal excuse several hospital of think to lot answer I U.S. with to question I a here step that reach system what is University I than ended starting come major with in of have down impact - proper up see awareness the they're due the only the due this This So $XX definitely And right, organization the we have criminals. the I over in going mean, - ramp adversaries. you're behavior. When is which, of at executive them outside ransomware. with last on lot But driving guys Health at probably we're success additional way an not is the the I these down a associated U.S. National million, and just defenses changes to went we're also to down, getting drive of in is we West here infrastructure order to procurement look this a these. the system is have think deal government a that going week, the ultimately is to saw do first put federal to but between. and traditional every these of the smart

of a lot whole So of less. you quickly prevention kinds losses, with realize ounce cost is to an going you those

Matthew Hewitt

Absolutely.

the last some are impact that's of you've contract it some some to improving is the And if the year. headlines. situation got similar seeing appears renewals the driving that So from perspective. customers I'm know a you with a that in customers? in had were conversations the COVID of some QX, obviously, delayed renewed that that you curious with sign maybe one the I able but other of

William Barlow

It is. of macro - happening level. It's things seeing at there's creating couple a we're a

first at pricing line things less So definitely are of top all, right? seeing We're the far improving, pressure.

need cases, technical are lean see in the In budgets to people to fact, they invest they and got pricing, starting on on. need and that to a that able pandemic the they've we if course many recognize catch if anything, more now to builds of in security, we're starting have their control up over to that debt over up in

in the following there's in other where of We're emergence kind providers quite and well-funded, doing well have-nots, trends are network posture at saying, to we're that where great the that we affiliates also also the very the need back example there starting the heavily where haves very security. consolidate. those very we earlier home during One closely have-nots, the some the and were seeing larger They're are the on rest they're call office." out of are particularly the of systems, our the - that are we're is to see an of healthcare a now that emergence same is crisis. the to in "Hey, looking right, The lean example their the and starting gave to the of up heavily have security that providers we here seeing on beat

in that's we where pressure. in becoming a strategy going a And start put frankly, ago, on to to a talked out see working the are larger it we That's well. We about and of about more lot we're continuing where calls, is more the with much practices got But these to they've relevant consolidation. work place to them. year little cases,

that's paying a so were make saw off. in of pandemic, at services we relevant, this the our So far, start lot of to sure we shifted and shift the ways,

Matthew Hewitt

base margin sequentially. benefit we year-over-year a gross That's thinking gross understand the here? was shifting if Do related. of how grow is great. improvement was The I'm we I curious Or some and XX% gross about gears should tax But And number? that a that margin then in little margin from maybe be bit. nice benefit it sustainable? quarter,

William Barlow

Paul, cover know want if that you to one? I don't

Paul Anthony

do think revenue it as no, no these Yes, expect we then was levels, do sustainable no, we but problem. - there it's We it's to would grows. revenue think at improve obviously

Operator

[Operator Wiley Instructions]. Wiley Jerry Fund. question next from Taking from

Jerry Wiley

neutral, unless you target of the get you're Say, a trying kind EBITDA do give growth sense quarter-to-quarter, But revenue cash an what on flow just basis, moving to a get on adjusted? revenue of marketing breakeven but expenses cash opportunities. a of me to could if and number I it's flow know need neutral with adding some you

Paul Anthony

target. Yes. X% our range, We still is target around that to X.X%

Jerry Wiley

Okay.

For the breakeven?

Paul Anthony

right. That's Yes.

Operator

We'll from hear Cast Avi next from Fisher Advisers. Long

Avi Fisher

as guys in in of And our - buying shareholder, the you it's dismays they're prevents Board, that observe would Members any would lack that I a me to shares? restrictions a know of from from that not shareholder Do our growth it. it lead current Board strategy Because investing implementing, one buying help future. they're the assume

that - could you if there's about. that any you restrictions if wondered I talk So on

Paul Anthony

closed a in X in at been excess months. closed Avi, We've trading in at a least have of point, window, we Now this for been window.

on has Board some been and trade there yes, So their to currently. the limitations ability

Avi Fisher

soon that buying? can open time see some so we at Is insider possibly any

Paul Anthony

That is the expectation.

we getting you items. still finalization close Those didn't in know, Board few items of will that But done up anticipate do that finalizing As window. trading ability we to We're agenda file next the open our proxy. limit our Board weeks. agenda

Avi Fisher

Okay. And of But cybersecurity lot are good sequentially. provides pre-sold aware of then that obviously, is that environment about - seems your a an roughly for talks flat a I services. company Caleb mean, people profoundly

take deferred the overall here? what of for it to is I'm are to missing of of trying us a sense What down Your sort take environment? we kind benefit revenue get does on XX%. to from

William Barlow

the nearly and all Avi, that COVID That was impossible back a with gave And cost I only election but about purposely from being riots. roughly think March about and significantly. which both down we perspective. well capital we discretionary the the entered last the significantly us message at the throttle February back pandemic, cycles and as thing, the talked new both biggest marketing to get that crazy out, we pulled was ability to when with a shut as it not saving a time, also money was

on from as perspective Now mean, segments we've as last there's NBC well that, we're starting investment an an nightly week including in had to lean back window. in X week. broadcast I this the both earlier open news

done that X or ago. You have months couldn't X

So the awareness we've of work for funnel is the and got built. of there that getting still at barrier us But the to day, top brand the end do.

us that's where see Avi. to to going you're heavily, lean in So start

built website retooled website, was sounds looks here look too, of working got The other this side you to a really at that thing We've mean, if makes get that a I look, other actually that it it XXXX, and that's the take mean our on. like right? I our we're minor, difference. but significant in

Avi Fisher

So into this the about talk dig within you of because I healthcare Caleb, constantly brand just want a we up little brand. awareness, great but industry come a top to bit, on having

or So is, was are should trying are thing. which seeing double-digit smaller COVID and and things too. lift - the I we of contracts? we huge growth are a understand help saw it's the guess elephant during big But the forecasting your period, I like same them And retrenchment. not I'm - to us why. we COVID understand many early industry delayed I'm up I'm just goals. I thought we've understand, them just we're mean, many - trying Yet you other said, - when How one whole but competitors, we've rebounded the year. when to allocating And of to spending, talk all that? this contracts were I I we I'm trying Are same to saw your pursuing question

William Barlow

free in will flow industry slowly cash and invest starting help, to able this further will help, we're to be create investment to the that. The area certainly in

enter now - rooms to last COVID to the the open like emergency started was be the pandemic, one I addition their first in to although back most just think are patients. to In have cybersecurity they'll out most But the accelerate granted they've healthcare clear Avi, investments. restaurants think of that, still I places,

that delay bit is before. headed. we're comments, we earlier in to nice there. We've one this But the like market difference started I retool we're got on said the where not we used to a progress here like were So But there we've a time we're and relevant little optimistic to on adjacencies make this in very well. some see as sure also of dependent is

Avi Fisher

at finally, it And pre-sold how quarter least would disclose can today? what - how it as of Or is was you to compares you at end?

Paul Anthony

right going mentioned now. were that don't we do I we Caleb in QX. can't occurred a We into you tell that can - give we But close traditionally nice guidance. Yes. had his as comments, that

QX started. with So happy we're the has way

And so sign. positive that's a

Operator

We'll from Michael Monarch from Potter hear Group. Capital next

Michael Potter

we're this the to - in as the very out, I mean, industry year. the company growth you And certainly, for Good laid call. to this having the be Caleb, for of backdrop tone positive seems

was QX? bookings what The question. quick you for can a quarter, bookings us Just for the give the number

Paul Anthony

Mike. Yes. pre-sold traditionally back provide just number. in movement can don't the estimate and rough bookings we by that We don't the provide into number looking that of a mean, I you number, at revenue, but

Michael Potter

Board certainly Well, would what to for to it'd giving - this KPIs are forward? this understand you moving progress the forward? bookings that measure is the the the Or be company contributor I is company. company is big this confidence a how you be moving is mean, to me, very can we And start? of and helpful using that us both you if understood

Paul Anthony

give at point, the that's indication. take consideration Yes. that is pre-sold try we're to you into see kind some update. I At best on we'll provide it out again, and as least understand. there focused we of And to to where if can information this relates

Michael Potter

Right. us to we a in seeing to into be mean, But the turnaround But number top and the to couldn't we're increase bookings certainly helpful. going see And bookings for a your asked question would - out call we we that that. back competitors of an have prior Again, as we give business. line. very that prior It's answer. understand. would it be - helpful the it's kind to get I just should,

Paul Anthony

call. Yes. into for we'll I consideration Understand. next said, the that Like take

Michael Potter

direct resellers. Is now that have X Okay. Caleb, that you mentioned we correct?

William Barlow

sellers. resellers, not direct No,

Michael Potter

Direct sellers.

Okay.

that sellers. were we Sorry. ago? year to compare where a And how Direct does

William Barlow

head had a to started I mean, there XXXX, of since be we I exactly some my top off I of transparent of we have at ago. several year We of August departure. we the X don't a sales well. mean, a had head sales have in or where sales didn't were back significant had pandemic we to which remember when and retool left. too, completely completely were X the turnover had And sellers, during team. the as we of I

been has of, this but be we'll very getting there I'm proud do a to there. transparent ahead of So nothing and that. We've like had work we're some feel I

Michael Potter

- Okay. a Yes, issue sales team I of that's a control, past unfortunately rebuilt over that know years. the you've that's the been been out big but your X.X was

direct X have - we force So sales

William Barlow

Not only across bring we've all we is built true - really it, also positions. in to this well, tried have

Head to what good next really a Our have we to what's really today we cybersecurity executive okay, very sit very also HR all and a this. team our time background. take of departure, is need And of with back to profile Every we sellers level. pleased I'm try have at robust upscale the say, is and really an up as very

the talk and walk. can walk they So talk the

Michael Potter

Got Okay. it.

University companies the groundwork would Scripps, of that of new evidence with lot is the we has up for Maybe and list XXXX between a out think and the Pipeline, the point want industry. don't anecdotal spend I talk bit. a I this at system to the of enough the kind Vermont. this sector There already you've Okay. in is point which little in can laid belabor SolarWinds, private moved that there big for of some priority headlines healthcare the Colonial

seeing So to really start to increase? bookings again, and contract we what our more before take going it announcements is more start

William Barlow

every obviously we we guidance times much mean, as we you hard I Well, any won't clients security-related. meaningful on allow to blinded have get we their But that time can And work they're a day, give that talk deals right? something about, as that. just we focused us because on of if lot we're talk about even to where that's can

terms rebound. said kind As of mindset. asked And next the high a degree we're you about where we of earlier, that the in of thing, got I've headed here's confidence of

pay loss. were particularly remember, the to it issues was have with that you every defer had to risk insurance. way historically The cyber If probably think loss, bad fines. could biggest board but lost that you cyber insurance, day, buy data, It is that You reality the to data reputation is And can't cyber a to realizing I you the of you a was to defer risk insurance. in came dealt now right? you healthcare, a with risk shutdown

locked the features the functions carriers gotten of you're you're starting smart. to First downtime But have also place be They're of all, now in very specific to insurance and insured. going require got be if if up. even cost you've

money more to in we're board through getting realize I got too meetings. we're Now I move dialogue. boards takes invest sign everybody I here think work to and that and more and early one And see this, phone of is on the will into it to that movement really ways understand some that that seeing time for the to called

need helping go. to We they where strategy the are boards, their understand and presenting them

it's time. So bit little of to take a going

this optimistic a very on out of same we're we're where of see But hole. is Some digging time, at this I'm starting the go. to

Michael Potter

Okay. And let's touch on a little CMMC bit.

You've going DOD is has regards that when of guess in going government this start of - going is to kind through wins, with we implemented? approvals when start mandating I implemented? this Can And walk to process Or government? are you to be where to to the is had which the been us terrific. some the

William Barlow

iterations Well, so like all on stops government this. projects, there starts, are been - there various and have

that coalescing. be the first nonprofit They called seem CMMC-AB. up, stands that to government the They've CEO. the be their together just we'll managing As anointed is in coming

minimum, a they're So underway as of do, and have the we nobody the first we in entire is going assessors, to or others, being that's same queue. this have entity. company, on - learning through what, through moving initial What have in-depth first that one I of the pretty thick. an far simple audit. print to assessment the matters, think to literally to it. have we in when going DIV of That's you be give about the to much is up. in run out more we when to every proven, Department go all Every by to been you being mean XXX-, CAPE do tell from a what understands. through it is what back program that, real and team there a I inches has our a is assessment we're X.X security through far and few evidence there's to boat a one we're lot to And That reference comprehensive What calls will practices, assess kind executive metric, to week have we're the XXX-person I single being more the policies the now. all we're anybody we're volunteers We've because bare just of go week. I Defense. It word it just single than and through has this

this this going. pass to got they just the where is like we're anxious right first assessment there that work the to get to have the like said, very que. And now to the DOD need through companies to of pass in And it. assessment. Now And one is approved then appears first get few go this initial of process. We've get get kind started now from cadre actually with It and work. assessors we then we we of I

and we far, street the official nod. so we'll know that get obviously let when good, So

Operator

Timothy Winters with We'll take investor. our from [ph] next retail question

Unidentified Analyst

called some I that. some sales here in in piggyback that just it's on wanted to of your generated the revenue to others basically Caleb, force. and being regards appreciate I out have questions

I questions lines. those so couple of a along And had

The companies other type with lack have the any strategic may into first a company to, of relationships you question for of better does is, a that perspective? shoehorn cybersecurity help term, business from

William Barlow

multiple technology that technology relationships that in with our use have provide We services. vendors we

credit. bit might company kind cut a And business our either examples, relationships really that level The a getting agnostic. of has patient compromise we're So of a getting assessments, where privacy to is incident for and/or where that response of traditional historically be wanted being referral example, partnership right? as we we because monitoring, maintain shy of a been

who learned have there is Ben we've had thread doing what a them agnostic, contract. experience believe And a can you as clients of really might think needle have to solution on our but an can it lot well one in operations you allows one this beneficial ways, of right, runs still a of entire to prior we a way myself to delivery, because oftentimes, and in our put that piece where in as be both paper, that I as Dankers, that And preferred well be vendor. companies. lot

of there. think we Certainly extent but viewed started So experiments where the And will, want do I think an as there. I opportunity early lean there's to not to being in an more. reseller, some that you is area we if a

the security budgets assessment, know You we know also place, everybody set what have we on we know mean, to a in have that they right? data place, don't go look we know what their basically needs, like, every in in like. recognize client their all solutions we sit an what they we look that skills everything do into have I we articulates

in we So some sit that's we cannot bit area more to can we And do matchmaking. in I do in where future. position Ben but want lean the and an advice, only a an where interesting

Unidentified Analyst

helpful. Okay. That's

really of But year situation times have the mentioned, that as cost the to cutting measures. given revenue I the last are in your questions given have. lot be sales over my of you've with some of terms around that so being other opportunities because seems the a it competitors the still and may like said, said, seem and investors like spiking really generating had more doesn't sales so And great some

little And of wanting just bit at kind of hammer to so more the a what I'm kind to difference is. understand that

recent process of In terms example, most incorporating are you this business? situation, into kind try sales and planning - so, are how of, on for to this if generate you and your

William Barlow

they survival like of into midst a the where in to you grow, COVID switched mode. right? down only cases, pandemic quickly in crisis So were, first Timothy, order going a patients, take got in to Well, especially needed bankrupt survive our the closing or thing in recognize, we to to because some clients

mode. it is growth other side. The important to flip we've And the out the into made now we there thing got

our clients advising But that is the our into look also talking on this, services, what does happens, one we're and our mode. shoot situation, things us really protect webcasts phone. the need my clients about and that a if see roof us experts social this it. our question clients do mean Now through not may to flip need all that what of public open with best to be you strategy. I something of privately. managed this the anytime I out media to any hey, get this one do tickets of the doesn't I opportunity in everything to against from as do investor the is And we that our in ask about at how like the know educational recent give and the ticket on community capitalize to We're want to the and there a at way time us myself understand, to change our will for on realm,

can can in you deal when their you comes see organization to they like been their bureaucratic of clients X later from X imagine them what helping lay return that's help And today, as the conversations. is this. out to of to And budgets lot ultimately budgets hospital months approved. to anyone lay we've get a understands, out out you're budget any those worked that with So having going that a actually that

Unidentified Analyst

Okay.

end will just saying hopefully? sales but be asked, pandemic, curious the on this force then what your the being guys that able back of business to I main in numbers. finally, are talked you provide the So with being about to a is uptick I in And But of pretty not terms big question know general, challenges now the as I'm well, kind of are generated top we that of seeing on the you've last case, being one are terms the with in discouraging terms to to with of due getting kind business moving is necessarily close and the your doing clients the you able mentioned? securing or business website, contracts. some hearing of Is of business a it What from to securing sales force it getting give brand sales? forward those as initial Or potentially able meetings the pitch that? being of to be from in recognition them not are matter and you my you

William Barlow

- but today, Top the surprise to going and if were this to line marketing products also the buy That's generation. about be think lead face-to-face. we us in predominantly which is and way we anybody, right, all of - you

Our together events. they're things these way. traditionally bring would Well, people in marketing only back but face-to-face at same never are coming not gone, the

couple And over digital funnel presence, digital marketing turn headed, experience. that the critical ever busy is very top-of-the-line They're So And And now today what onboarding, what was. sellers have last months very that. that. end we're where we've involved our for need. back the building than it that on having more about the that excited exactly been we that's but need front-end to been is do in they of

Operator

closing over now question-and-answer today's conclude back to for does please Mr. hand will ahead. that I remarks. session. And it Barlow you. any Thank go Caleb,

William Barlow

their shots it's look, in to in starting arms. been our again. getting see We're great Well, to travel employees closing,

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Operator

you. participation. Thank We all conference. for thank you today's That does do your conclude

You may disconnect. now