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ETWO E2open Parent

Participants
Adam Rogers Senior Director, IR
Michael Farlekas CEO
Jarett Janik CFO
Taylor McGinnis UBS
Mark Schappel Loop Capital
Andrew Obin Bank of America
Call transcript
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Adam Rogers

Good afternoon, everyone. And thank you for joining us on our Fiscal 2022 Third Quarter Conference Call. I'm Adam Rogers, Senior Director of Investor Relations here at E2open.

Our earnings release, SEC filings and a replay of today's call can be found in the Investor Relations section of our website at www.investors.e2open.com. Today's call will include recorded comments from our Chief Executive Officer, Michael Farlekas, followed by our Chief Financial Officer, Jarett Janik. the a open Q&A we'll then, call live for session. And

Raise ask, have the me the a you please queue function. question use into If placed to chat be directly or Hand to

Reconciliations found our commentary results will non-GAAP and As a earnings between can press today GAAP be reminder, our guidance our be primarily in terms. in and non-GAAP release.

may to events, as or call statements in that, the CEO, factors of forward-looking except these of other forward-looking light for financial and like not during These are S-X them today's In SEC our these with guarantees including incorrect, our actual fiscal XX-K and begin Form required these we be subject uncertainties assumptions making Form these around uncertain Before performance, XXXX. uncertainties impact reports affect results that call, are and results and and law. forward-looking and and by information expectations be are to events COVID-XX no and recent could guidance in materialize on business, everyone assumptions most prove we change. turning to statements risks, Michael customers our of to financial begin, forward-looking undertake future any or Should cautions materially new or our performance, are remind filings, Farlekas. the we'll to our subject under full financial and and XX-Q. Form I'd our EXopen operations and differ year to from statements. over And assumptions. description including included regarding statements our future unknown our our of pandemic A revise results we’ll obligation that the Company on condition of applicable be that of statements that particular, known could risks, of results our future

Michael Farlekas

for us to earnings fiscal all our and 'XX for thank join Thank taking call. you you, third Adam, time quarter

clients recognizing chain and platform, As benefits are is as our increasingly their the enterprises of problem companies with world operate end-to-end supply grapple on continue the to one one operating process world's ability collective network. the to EXopen’s which the face, primary chain challenges, the major business which solves chain supply supply

the We solutions, extremely our this have proud proud third much to be of clients record their in our and emerging I to quarter. quarter, these of exact, Last leader XXX XXX, and times. get this be so is add number as EXopen shortly. we supply in value chains mentioned results to again much be supply a broken I'll suspect the S&P chain I'm that challenging during may end-to-end record that quarter, calls. to quarter earnings impressive

because not built and having healthy to and disconnected cost customized using supply simply problems to tremendous demand lack supply primary holiday and the indications size how outages, supply our The backlogs, cracks companies' disconnects margin, accurate of C-suite to many have importantly, supply legacy generally There on their number technology It's disconnected that for underlying holistically. not a manifests very was static certainly products. sell mostly the managing their timely siloed mostly solutions. lowering and they their And efficiently a sales overall is system to operate What networks. they They're they success on Improving is on-premise and architecture to complete, a as and in agile. find today. these a chain they XXXX data are and internally. no reevaluate in labor early been the the that efficiency opportunity escalating by in Most chains is they and partner and outperformed global everyone great, While identify the to are for limit itself is new that and causing exposed. supply poor costs transactions in our need logistics always companies shortages part, chain and It's run clients, to their sales supply, both XXXX the make momentum recognize base, problem increase daily scale. rely the of business. and of mission. need of solve cost lower We're goods, of companies, logo transactions, efficiency secret

global at I'm supply under has most has pleased largest stress, the platform happy that EXopen operates not are many supply I chains the functionality chain integrated that While and am that operating fully a network. platform This supply, the operate networks. supply connects problems. and complex is exactly demand clients chain We large very our logistics their end-to-end their that as solve scale enterprises how to

supplies efficiently, levers. revenue we described EXopen network as multiple we which prices with more resilient run resilient last need durable margins, our their spoke produces clients in the operate everyone. to improve lower for unique investors long year, extremely gross the growth data that the over has and Our company When to a

business to address this extremely large focus built have an a platform network. and the on to differentiated upon clients built large to extraordinary channel, best and largest unique create We the world an in and

over years of a for subscription a Our extremely we on it win And unit gross our subscriptions, decades. basis. is subscription an margin organic they is world-class to contribution we our growth average powerful to and margin time, very economics shareholders given our keep produce the because long-term intend new contracts. very long focus lever well on for nature When them

digits, growing as at cash-generative the world-class company growth with at further. that scale the free we We scale to economics, a unit highly are is compounding business with double is flow. world-class translation revenue, durable increasing EXopen and algorithm. highly rate cash We're

our acquire from solutions have we addition, platform. additional proven significant and ability integrate In grow to a to upside

Company organic have our became EXopen years, high such each money seven operational past this performance provide In enables exactly faster years smaller, revenue of done financial have X quarter, more is We and times this grew because became in larger, this Jarett and losing and believe growth we that years. well was into conviction not subscription the why continue the In the over Seven past profitable. ago, profile XX%. profile will was over what our will and consistently our this of gearing growing. seven future. we third greater the detail

are We our were last larger QX, we in was than revenue growth now where subscription rate subscription XX% X%.

for Our to rate not expect were much the organic foreseeable growth is this plan, This we This ago. and very and larger we is than is future. are accelerating, year we one plan the execute unexpected.

very QX an our fiscal total difficult of revenue. the our the XXXX profit quarter accounts record opportunities deliver which our of strong with team XXXX. exceptional In bookings, $XXX I pipeline the our for new fiscal of balance close over by us am other quarter, Amidst that internal third speed confidence to XXXX report date, highly overstate subscription to we've our we revenue. XXXX nature nearly we're rates integrated of over QX, XX% outperforming impressed to will We We integration. the The third one completely continues organization and the contract provide acquisition BluJay key of for even integrating go-to-market In our challenges though and X,XXX fiscal sell, total continually entire pleased continue now visible quarter, our with results significance revenue, integration. and company. growth Our our added It be million of that solutions increased well to had that and Allow see as some the our during details borne integrated team members. of by well me team. grow, the this to to rate is realizing plan our metrics. we an We're in improve. performance. regarding we would third largest month generated first our fiscal positions and ended for the non-GAAP

addition, our The was the organic EBITDA generated the adjusted In and XX.X%. million. quarter the rate subscription QX overall for $XX rate nearly results organic XX.X%, was of we revenue of growth for growth strong quarter for

Our year to grew in of QX that the BluJay of guided same on we a BluJay measurement the and EXopen rate for XX%. we a period. growth. QX That's apples-to-apples When transaction, announced subscription focus basis is full the an company on combined at of revenue

our Given XX%. year will total on are to exceed Jarett this organic year growth revenue our now increasing our later expect guidance details and more performance in full provide QX, full revenue in we call. the

expect We to we execute also in to expand articulated and our fiscal that growth rate materialize growth four levers XXXX.

each We revenue more of our are performing translation that four details provide these and growth some the of execution ahead schedule, areas. by of for performance. evident is We’ll better-than-expected

New logo performance.

We marketing acquisition in logo teams continue the in ramp and assigned the and to Europe. both new U.S. to sales

this with are team. of the pleased We activity

roughly FYXX, of new this percentage experienced fact, XX% increase contributed were QX increased by and bookings new again QX, new now has the QX, is wins. In logos, we each global XX%. In roughly an and total bookings quarter of and percentage from in in

only performance we to three years. the important, many so large, they our the new times subsequent scale five ability strategic small partnerships. those over and are and start logos for not to year New have expand but relationships current they because Create

is this for live went solution. Our In our with partnership continuing. clients NeoNav Maersk strategy we the first quarter, joint two

scaling where expands this added This logistics ocean capability presence the we over one our this stream actual payment increase the with to booking Data containerized partnership, our our the size of we in and operation quickly year. payments company our platform another and called program next fees. to And in expect expanded meaningful from contribution related PayCargo, and expect week, analytics. three market, just years. We and transportation a include now we this part this revenue of are this in next freight service the

the D&B strategy network. Our which XXX,XXX our monetize our in is connected to develop, continues over partnership parties with to

and significant do new to with sales go-to-market customer through go-to-market innovation. This progress we and and our base. a enabled in quarter, network, D&B accelerate technical we vast team functional the the monetization enablement of training We their made this product

annual and believe value new and process buying comparison and Optimize an span we early to models launch to of in now forma Earlier One potential our in excited has contract This big about scale increase year, last scope XX% and as has demand reason high increase we the over While changes rate. adding for tremendous year's price, was I'll pro last period renewable to QX growth X%. for BluJay respond for year. is for a subscription that simplify for to this contributed year-to-date last customers through of that alone basis bring same and XX% solutions this organic a scope from QX price families. in XX% of and BluJay relationship clients that year. still through quarter increasing on the our That versus the so from transaction platform QX work pricing these only are that. scale renewal X%. well measure our our same between to EXopen’s is XX% subscription. average the pricing year-to-date are repeat contract packaging. this product as contracts through described XXX% is combined was $XXX,XXX to for QX The days, uplift measure to versus and on develop year's value we impact basis. multiple a was year-to-date EXopen's BluJay QX our uplift

we than hear, executed company, show are quickly to. you these incremental and more our fiscal we simply subscription four Since on delivering to subscription-based sell up year a solutions in results and as growth they our I'm this and have to to will As said revenue, our have increase We more in them acquisitions track being times mostly had than initiatives, begun revenue more while levers thought. increase XXXX. have clients growth of All more care rate. sure we're

we've another In terms highlights, platform added in of other QX. transaction

platform years. to generally those over For with where has deployed implementation transaction the client large call, multiproduct to will us that a one the new be our aligned is time,

by carriers across our or addition, team the solution of Logistics logistics and regardless launched product both. network Orchestration. or all logistics front, This to internal finished on demand Global has as of across and those third party their initiated we all it is a teams generated products strong network-based moves, modes, customers In enables materials orchestrate

within our important, Our our exceptional, transaction largest Despite to organization performance days was and noise record new first in go-to-market the business and overall, we organic The this XXXX for our pipeline see only subscription the bookings, XX.X% excess growth we rate rate had pipeline momentum underpinned given FYXX. we of growth see for returning contract continuing, our to most be XX rate QX revenue. integration, date of on distraction at in and on grew, growth very to fiscal total quarter of world-class bookings, margins. an but of we our the for not yield natural we fully rate completed qualified That and strong pipeline our continue revenue gross is believe the the Based pre-COVID by integrated these a our growth current we will produced in XX.X% for acquisition. comes growth levels. our highlights but how FYXX rapid

growth We over though year, it XX% even greater be summary, rate have will that was will increasing year this be conviction our was larger. our third quarter exceptional. than it In next

excited detail are focused turn provide to With our front Jarett on in initiatives. results. opportunities our us the remain about to We that, multiple growth executing it more I'll financial and Jarett? of regarding over

Jarett Janik

you. Thank

following comments BluJay quarter. Michael's be to company growth fiscal be Today, is synergies. to XX%, on an our that on acquisition revenue of the 'XX. quarter foreseeable high-XXs cash third the EXopen continue margins its XX% margins. growth long-term Revenue that believe a the will model. will further to noted value over review year produce to is continued expected with long-term continue low nearly acquisitions. full will generative EXopen shareholder and We'll differentiation, accelerate tremendous to our begin of shareholder through deliver a the we sustainable to We revenue this profitability continue total with strategic based to then continues highly profile drivers to financial and give our produces ability financial update how increase expect another rate expanding specifically on provide subscription that and results to EXopen's as EXopen he integration, the is and us mentioned, model, of pleased now with rate to scale, grow for scale. growth our is by and our revisit the faster performance growth competitive I'll growth its X% on organic Michael fiscal operational is world-class a profile. gross and I'll subscription is company And start capital value. the financial intensity solid year As future. EXopen's compounding EXopen powerful we X%. tool previously it outlook. and mergers financial due our in realization drive rate EBITDA is to mid delivered

very customers subscriptions percentage in from both have where and We customer relationships. high revenue a long-term of our the world with the cherish we largest

customers top nearly XX-year Our XXX a have tenure. average

stable converts can than around highly growth. organization, many percentage slightly revenue accelerate efficient gross very Our even go-to-market base organized rather leads our of our we marketing EBITDA revenue we which a to expand as revenue to clients With world-class to have conversion gross our margins, of competitors. and our greater we our rich than though sales product adjusted a margin products, of invest a in which

teams operations of the capital used assets. high another low opportunity The our the the cash acquire with its a of in generative to embedded avenue compound The our integrate will majority This increase growth colo be for is become degree business of strategy concert in mainly to are we integrated, go-to-market with provides team we value usage. the our to The extraordinary which one This more products will cash a increase financial continue sustainable with typically generation. hardware our last. related to highly is into centers, financially quarter are foreseeable shareholders. additional our software And future. products the and the first generation strategically is annually data important cash acquire. acquisition platform business are requirements, immense teams back-office or through will and cloud arrangements further and EXopen acquired public We integration. after sell profile quickly. to that around The provide oriented us to fully accretive rate businesses given fully our We more and the operate to customers. from

in record acquisition. our each XX on six in BluJay it on And each the integrating We years, total. what combined beyond was the proven to acquisition overachieved acquisition prior have acquisition track over business past and its case, of a growth rate synergies accelerated the individual With acquisitions. we've the successfully

update the move on integration. on an to BluJay Let's

We the that BluJay deep X, of are the to annually. integration on of are synergies recent our BluJay XXXX. to Solutions phase projected September execution into related closed Total combination million $XX be

earnings be expect fiscal year. We the XX% that rate six remaining We months represent been XXXX XX% nearly synergies between and of to those end in balance to to during with of XXXX metric XX% fiscal the are by XXXX. the finishing action have XX% expected and XX% in portion moves presented. the of transaction, the run in this fiscal of synergies the action coming this to savings between Realized recognized period for anticipate our the first

results $XXX.X third a at a XX.X% in million, a show $XXX.X of on Now, rate revenue reporting the pro GAAP growth reflecting generated XX.X% We I'll was in quarter talk growth million, pro on our eXopen.com. a subscription available on We website subscription basis. basis. section rate our in forma basis. Relations the Investor of Broken which release, about press revenue category, a forma of down reflecting revenue total revenue is total a fiscal reconciliation of by non-GAAP to the measures

new to and revenue to adjustment deferred XXXX. from the business principal COVID-XX a of revenue business fiscal gross delayed related across quarter beginning XX.X% organic growth fair a delivery As in of Professional in during the on revenue February due non-GAAP to was prior Continuing forma impacted new reflecting portfolio. a in Michael The are mentioned, of basis. $XX values year reflects services forma contract million XX.X% due pandemic. in adjustments revenue the a to revenue, the still are normal increase combination to period to the The statement, down to continue pro efforts the value increase the the million was was mainly increase pro prior The sales on gross profit our the in our our subscription revenue. rate amortization our $XXX.X resulting return contribution impact services subscription the average services basis. to reflecting quarter, customer in our as services third subscription periods profit for quarter, from logo rise, by our a was revenue professional income in

was impacted certain revenue by the services margin Our services positively during onetime quarter transactions.

our We to mid-XXs. to coupled be the The related margin comparable Gross XXXX for fiscal normal services primarily to quarter and gross third of sales expect compared onetime normalized margin new XX.X% subscription was in to the XXXX. fiscal with services profit increase in prior from business was the our services in period of in XX.X% the return revenues. these year, the

a on a the million adjusted for during compared Our pro third was quarter to fiscal EBITDA The margin forma quarter of third would on basis. EBITDA XX.X% XX.X%. XXXX pro margin on of EBITDA decreased $XX.X comparison The grown XX.X% have of of to of as adjusted XXXX a XX.X% normalized to normalized like-for-like EBITDA the from basis, periods a adjusted current forma fiscal period two a basis. by XX%

when organic true-up normalized the towards and which incentive is normalized integration and that company costs the shareholder When year. adding third corporate adjusted participate, sales, adjusted third the were our are which of oriented is highly bonus in drive EBITDA borne is not expense XXXX, business new for the program, the quarter of employees achieving third by value. quarter our annual in growth our prior revenue considered, tremendous current our but majority current are a XX.X%. quarter XX.X% back fiscal public EBITDA The costs our For embedded the margin

We areas. are in over these both performing

expect the quarter we current for fiscal our describe As three added to quarters additional will next. a accrual an to that accrual, I result, guidance during the we additional Despite cover the for all maintain of third XXXX. EBITDA period year-to-date bonus

by guidance finish non-GAAP our providing to like year I'd of XXXX. remainder for Now, the fiscal

million rate we that XXXX, year range at to are We our million, fiscal total guidance. revenue full raising guidance. from expect of representing the a the to $XXX growth non-GAAP $XXX midpoint XX.X% now revenue For

a rate growth For forma XX% our between to announced comparison, we to We and growth X.X% evidence $XXX Adjusted organic growth BluJay million transaction, we to the pro million. EBITDA $XXX year. is rate then to the that our raised XX.X%, be is guided rate accelerated. when now to a expected for

earlier, will operating have our bonus mentioned year our earnings impacted costs been I full be As from that includes removed incentive duplicative by the to program related acquisition results. our and BluJay not

the the XX.X% full normalized the adjusted bonus guidance. be of will year the midpoint Excluding margin at EBITDA adjustment,

profit range margin the expected is be XX%. gross non-GAAP of XX% Our in to to

the fourth fiscal continues to strong public provide Finally, summary, to like the want products. solutions fourth year market vast ready to questions. consecutive after for We company. now that, guidance pause. in Adam, I begin intend on a our strategies EXopen when financial on remain With quarter executing we front communicate results. focused to XXXX we and Demand our would our capitalize for brief growth session grow our that posted mention us. we to of to take that quarter lies as opportunity In Q&A we're your a its

Adam Rogers

give directly Raise ask, our to or please have be function. And Thanks, any situated. to you Hand questions us the chat the just right. Jarett. queue All and a me again, use placed cameras on moment if to Please turn into get

question be should will today Taylor your McGinnis Taylor, UBS. come open. Our with first from line

Taylor McGinnis

Yes. so much Hi. Thanks for questions. my taking

just the revenue The first is one guide. on

Adam Rogers

Hi, Taylor.

Taylor McGinnis

the guide. revenue on Yes. just Hi,

that on the up it we full when quarter. past guys growth of below is have think XX% posted past, the looks you just new you guys I So, like in this the guide, the high-end of guide disclosed XQ -- XX% just the BluJay, based inclusive what which in slightly year implies

services subscription coming comp on BluJay potentially against organic the think more assumptions in color side? that professional between and up versus tougher an you basis some that compares on that maybe a how you're And knowing on can the embedded the mix provide I So, guide? professional and of services,

Jarett Janik

Yes.

it Taylor. on I the hit right that's you've think head, --

QX, $XXX getting non-COVID COVID total we're $XXX in what not As into certainly to million. into That's versus driving the projection easy of million compare is year. year a part we of the go the at

Our Year a fourth of large inclusive our from of holiday. PS that then a team services of impacted also given Year. Chinese amount and holiday January, quarter But perspective, the professional and in portion Christmas operates it, out significant it's that in have of late it's February with has, a also we Asia, also the New New

that little to what's So, both kind of are lower a QX. those slightly driving will be a of QX growth compared rate when

Taylor McGinnis

a than it. prepared logo about is That you question size Got And XX% enterprise then mix more the makes new just lot next -- average of on new my and in of spoke being contract doubling. remarks, sense. bookings the

So, could talk to can and from coming if accelerate, there like think cross-sell -- coming it guess, recently. in sounds I there? there what maybe what of about the we guide that high-level booking how just of BluJay more much maybe like any And that was you've you or And year and from growth some the, that? and you the then, comfort for about drove as just talk and that things strength, the next seen guide you was like about next gives

Michael Farlekas

transaction we Well, cross-sells, It's we And thanks very September question. -- in on of the Sure. for bit. the Xst. closed the a terms little have

actually we had a see much. little We to -- see So, wouldn't expect bit.

and like thought. last kicking I more about that's faster the of logos, think of just bookings in, talked we terms in than of evidence kicking time terms In we the that's in had new team growth

C-suite to we're we have a and of because should care and taking maybe at logos So, with that's going. the it's and footprint. larger doing it. little in new C-suite on that's more more takes transactions the we're functional is plays saying, look getting "Hey, It supply driving we're in pleased more more, kind that EXopen." of larger because And is areas think involved how the very our both a size, transactions bit getting I and functional their where higher really getting strength also chains, with organization our higher really broad our as on we

well. going really all that's So,

In into I as us say the cross-sell/upsell. drive be get able of next terms growing But or mix, BluJay was previously. we'll two as I'd not as quarters, fast to three we the think

of that really of and our in year's gives a function of confidence. this a growth lot So, next terms pipeline. And rate, year's us it's bookings

growing lot, qualified in we're deals. booking So, is pipeline a and our

amount those things about, we a give and tremendous So about confidence which really talked growing conviction than next of us three this is faster what year. year

Jarett Janik

will I'd Taylor, you part think services your that. about is just revenue revenue on. add spot point subscription the very think of The to growth, about And because growth When that slow, because growth that the easy from the compare people, be But ecosystem impacted helping to the year build implement will we implement software. then as COVID. greater also of and a with us services strategy partner our

Adam Rogers

with And our Loop Mark next Schappel comes from question Capital.

be you might on mute, Mark. I think,

Mark Schappel

Is any better? that

Michael Farlekas

go. you There

Mark Schappel

question. number. off new you, my additional I details revenue around on the Michael, the some just us Nice taking if you wondering could starting details was more for Thanks subscription with great. job and provide Okay, give partnership.

It finance takes PayCargo. supply the sounds I think it that was company area. chain into the like partnership

Michael Farlekas

PayCargo, called our PayCargo function company payments has we The be will bookings ocean that and embedding on a is Yes. platform.

I'd way. this they another digital facilitate books this a several payment supply but every companies in next to leg XX%, supply XX% today, talked step over our in chain, of transaction stool previously, the this about world's So, as in of And about long be flow the a their platform, can on chain, book only infrastructure. this say, key this adding of of expanding well. single also of we freight as we've some of We're talked global have quarters. about what kind financial terms is supply the means is thinking not We the ocean the do how EXopen chain, And part about can the physical third day, is material yes, that it's freight we tie area. this can so chain. and pretty supply And going

kind to I'm add happy the we're to they of So, partnerships, rev our functionality on and to top. all be add us. going like super share And here, opportunity excited about of this

as we they So, grow, grow.

Mark Schappel

where did the And product-wise, in Great. you particular quarter? strength see

Michael Farlekas

surprisingly, strength visibility and in across logistics Yes. logistics a supply chain. Not see how all lot we cuts of of the parts

that's link or really about So, we a the our directly a is. about where differentiated, highly what's that we earlier, it orders is It's and freight we platform container product comes talked to truck into or unique GLO and air orders can understand play. what

it B, have for network; key and us, differentiator broad we that's So, do a and in A, we unique capabilities. have we functional because, can a very a way

that strong. for really is So, has a always us. area then, certainly sensing area very been. always for is demand And and key us That's strong

Mark Schappel

Great. And was wondering debrief expect new bit us give could a CMO correctly, recall if front believe I in I in if on of the on little I an you little marketing a just or hired update can quarter. upcoming year. the the a what you we

Michael Farlekas

entering laying believe. more marketing on we to fantastic her as September we we're she's efforts. public She's I joined our us Yes. our the know Kari mean, said, markets, the out building a now Xst, be and we plans. and team in out stage I have forthright where at marketer,

it's about the excited And super kind down our of So, phase. some but pipe, building coming to you'll see plan. part next Company the of things we're all the

really excited we're opportunity. so, And about the

Adam Rogers

line open. Andrew should next comes from America. of Obin Our be Andrew, of Bank question your

Andrew Obin

Okay. Did myself? manage unmute to I

Michael Farlekas

Andrew. Hi, Yes.

Andrew Obin

to I my quarter. next fourth of clarify Just in first the before slowdown question, question, want I just quarter, sequential go sort to

wouldn't like cited sort a understand, of these seasonal Christmas? a Just ago, bunch factors trying to of be but factors, year present you

Jarett Janik

Yes.

full to the kind from correct, still Andrew. back capacity and getting projects kind of quarter a So, they of organization of the in But we just year. bookings delivery the lack service the up also -- but that's slowed the of the our part that -- first ago, had year also were down of in

quarter-to-quarter closer than the be is sense. drag growth services which makes which QX if to makes rate. that line, the normal QX XX.X% on So, rate year-over-year total won't It will down, was, the growth

Michael Farlekas

It's growing. is on going where most growth. long-term The Yes, The focus we part will But into That's get there. revenue and revenue services us subscription And be our think subscription our the we that effects. next an year, said, expect, key comment. key I'd was has number revenue we we leverage, is always for important that growth. as about the business. of most as

very last contracts Our a time. subscription long

in our that -- area. focus key that's is So,

Andrew Obin

No, no.

to want Just clarify.

question. now So, my

So, on was your SaaS logistics commentary that than the fact regarding better outperforming, is based we were revenue expecting. growth

the I range. in think was be mid-single-digit BluJay to expected

highlight that did You better. were logistics

So, the is to is outperformance? BluJay that source it say of fair

Michael Farlekas

that EXopen wouldn't and I say boding greatly, that pipeline that. I continues. say No. would was our of

and at but their but I I clip, great of performance in pipeline as we've two BluJay think quarters a at say, I'd a revenue a say it's there. more better, little up the wouldn't mix, growing wouldn't our it's the mean I bit shows closing the because that I acquisition. that the quarters is been growth go put in on. first

Andrew Obin

you. Got

Jarett Janik

businesses raised were, business thought were businesses view them consistent combination. BluJay of when the guidance the kind and time showed one would do of year, in that what the outperforming at the a both acquisition. both really at we of closing where right of individually earlier each with That's we We of

Andrew Obin

'XX you. share be and Got Thanks updates you in any approaching No. renewals can initiatives you will average so price? below pricing And how that much. have on

Michael Farlekas

Yes.

continue. us they obviously quoted saw we then offer though and went this subscription we areas: higher mean, as And simple. have from and and for have it's think families we're We kind around but same than price. product have much that. statistics. is uplift historically large now seven to a which product been BluJay renewals, increased really in is we have and -- get come Scope three is the price, we we uplift. big contracts their into more we tremendous about saw continue scope product, -- a year, scale And we I opportunity great, scale. the All more other six price, other, and very have that have And of I lever we of X%, some when to is is the The expect -- they customers.

expect top growth of of that huge to source we incremental a their So, be on renewal.

powerful will we're that's about. well, what excited us. BluJay, of for being the from more at renewals So, is become the same very They our we profitable be us it on which help are That's time. and and acquisitions most we program get faster, why really executed, going top -- grow

Andrew Obin

at And in. salespeople deeply Yes. one know more embedded I'll We squeeze your clients. large

around So, bit up, and looking opportunities just granularity. budgets versus the that going a 'XX conversations to maybe how more mean, but things you little fact are sort a I ago? year of the are alluded

Michael Farlekas

We our That's is that yield seeing for increasing, grow. have pipeline we're and And close right? have signed every pre-COVID. the is I opportunity it And the pipeline. a us, contract, an our really before you and carefully. to returning we're transaction measure up seeing you to and shows quarter No. So, in measure on same darn mean, was we size continues really it where the growing. where our pipeline pipeline, way, our Yes.

interest pipeline, driving deals. supply in in expect number And a in quarter. we organizations. year are we up there's we We're this than So, showing growing of and next That's size revenue what's higher in show That's to this in as our getting chain. showing up deals XX% faster said, growth lot be up exceeding year. of

Jarett Janik

And new deals that's more point, it Andrew winning of also close sequentially important reduce more ever each and And we're taking because getting even than Andrew, bigger, an quarter. business. quarter-over-quarter, to we're the pipeline yet as bigger before it's out -- though

Adam Rogers

today. our question And final that was

afternoon. for Thank call our everybody this concludes that attending. So, you

Michael Farlekas

Thank you.

Jarett Janik

Yes. Thanks, everybody.