Q1 2020 Earnings Call
The <unk> <unk> invested presentation and supplemental historical financial especially.
Really the on that side.
But that I liked the done to go to sleep.
I think you'd be welcome everyone Q1 earnings goal.
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You and your families as D. and say.
And that scene.
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Word we'd be up in for business again.
There's no clear that occupied with 19 organizations in government agencies are both sides.
I mean to up to.
Rethink their security in business continued you plan to include remote connectivity.
Accelerate their migration glance through the cloud.
And streamlined and secure if not re invent their supply and demand for change.
These will have a profound impact on our industry.
Advertise also become clear that most of the current security solutions, where nothing design for remotes and highly interconnected working your work in.
In fact.
<unk>.
Like most other company, we still don't see at most of all workers working from home.
Fortunately because we had moved early with cloud Bayes enterprise education and spend many years name the architecture foundation or work or were bus skated, but a platform.
We were able to not only secure all removed workers.
But also continuously manager and patch really jeez I'm.
On their computer isn't a very short period of time.
The results you could continue our engineering and business development initiative without much disruption.
These whereas in fact, the Genesis for launching a cloud days remote endpoint protection free service in a matter of days.
Fall customers taste.
And now for the community at large by leveraging our power Foods Cup platform and I'll strong base of engineering town and some pruning.
As a result today with close to 500 companies of which 50 per cent nearly 50 per cent on your customers prospect.
Signed up for this is pretty offering which allows security teams to gain instance, and continues to be you'd be chip remote computers easy D.C. missing patches for cuticles, but geez and you blow them from the clock.
These represents a deployment of approximately 82.1 million clout agents on the end 0.1 phone for me you in front of existing customers and 700000 from your prospects.
The patches of that either it securely and directories from vendors website.
And concentrated networking and content that if your network insuring, there's either you know impact on extended VPN batteries.
Well now planning to add matter, where detection baby she's in a couple of weeks and would extend the free services for another six days for those who adopt the motherboard detection capabilities.
Which in fact will be a prelude to bringing the power o'clock clock Blackstone or cloud agents and pass it technology to E.D.R. and you are frame we plan to read this summer.
And as well to the security and even management market later in the year.
So what makes quite unique.
He's a significant investments made.
As windows all determination over the years to be highly skilled at this club based platform that allows us to unify I.T. <unk> income times I close the new hydrate environments.
Yeah, we recognize the importance of capturing all the necessary to the <unk> yellow sensors.
Yeah, the internet and beating the back end with the scale and competing kept babies needed 200, a such a large volume of data.
Today.
And there's more than nine data bytes of data indexing now more than six trillion that opponents on or less explores blisters moving 5 billion messages a day on okay, <unk> dust and pumping a median whites per second you know Cassandra logo 90, she sent you.
As a result, I'll club Bayes I.T. 16 calls out submission do not need to collect data from despite so soon.
<unk> easily deployed billion environment with it just Bruce and rebuild workforce.
And these and this is what drove in such a difficult times. Another good corridor in terms of revenue growth and profitability.
This is underscored by the continued acceleration you know paid clout Asian subscriptions with all the C.D.N. median now 114% growth from the probably your your quote.
We continue to see if we'd had the option of all three girls at I.C.S. It.
<unk> I.
With almost 9000, new companies signed up and over 700, new companies actively using the served.
We now have although it was 600 existing customers using distribution as away.
We so solid gold these core if an all paid like she has to discover any victory and cloud and container solutions in fact, the leading financial services.
These companies either the I.T. discovered it needs Vetri pain larger this corridor in order to gain <unk> folder known and unknown I said I cost much deeper involvement.
Identified in the end of life are being stored software and synchronize with a service now CMDB.
Also the logic 16 bank.
Which had acquired a competitor one of one of their company to use. These are fortunate you can knowing the I.B.B.N. yup, but also to have many of US all use solution like steam continue security.
<unk> assessment.
Consolidate many of the existing security solution in a single <unk> well all the data that could be correlated far more cost effectively to provide a continuous and accurate view of the security and compose posture.
<unk>.
Finally batch management couldn't you just just trunk customer adoption in the market.
This quarter as well seeing strong and we also are seeing strong interest with L. lost customers that's what.
<unk> also pleased to announce that quite it's continuous it could get vacation is now they there and the quality of any T. management solution.
Within a month.
In Microsoft has a year.
<unk> old test summers that are on as your security centrist standard the dishes.
Disjointed <unk> automatically analyzers, Richard machines and container images.
<unk>.
Writing customers are easy beach beaches, and configuration issues, which are reported to the Microsoft has your security center as recommendation, including the ability to create playbook. So one secret condition with no software to <unk> or.
Oh Security conference, you're always seem to one where we <unk> management detection and response the M.D.R.
Which is now in G.A. was a huge success.
<unk> management to the next level by providing the power to continuously detect verna V.G.'s and these configurations I couldn't even talk a little bit like T.I. breed and bombing and respond in real time to remediate assets that are very rare already compromised from a single platform.
We've been in orchestration.
Yeah.
Alive victory event on it for 20, suppose demonstrating out V.M.P.R. integrates I said discovery invent trees, <unk> assessments and touched addiction in a single.
More than 3000 people I've registered to I.B.M.D. all live events.
And over 600 organization.
Signed up for V.N.B. I'll try it after these events, 75%, which when you <unk> plastics.
Exactly the N.X.T. treat your research Orange Cyberdefense one of four I. Mrs people is concluded.
<unk> management space, even spoke to send inventory race based priorities and work clothes as well as strong use a plastic search capabilities.
<unk>.
<unk>. So the airport you need you to integrate the M.D.R. with the almost anywhere manage secure upstream and all more anyway customers.
Now have access to the unity announced quite as being your application.
<unk> or least keeps solution to be they rented a g. threatened managements jammed requirements and provides a beach at closing <unk> I present, Bob.
Quite felt agents.
And fitted and fully integrated with the almost platform to that either I discovered in century verbs just systematic testing population control tit purchase issue and such depiction two or more customers.
In addition.
Corny was like what it was recognizes the garlic fear insights customer choice for them just as much.
The N.D.R. effortless.
Oh, you on a global scale and twice as it Flutie bendit submission drastically saving deployment and nutrition and software subscription costs with real time lightweight <unk> offset updating and easy to decode.
Or game changing the M.D. occupation was also highlighted during the court in the report, but other than the market leading date I research and continuing from any and you can read you eat W.W.W. dot <unk> dot com slash slash white papers slash of it.
<unk> nearly 150 customers existing customers adopted the M.D.R., which included.
<unk> 60, new customers and seven or fucked up existing customers at full you into one <unk>.
Renewed into B.M., <unk> 3.9 million out false 38 million fade agents description came from B.M.D., all of which 3 million when you agent subscription.
The the foundation for you <unk> agent, which is the technology platform for seven security compliance and I just solution named either to management compliance phonetic with your money tree education compromised patch management <unk> and upcoming so you could get management and get more through.
Huh.
In addition, Burger. These most we also announced June availability of the <unk> agent on the Google Club like the G.D.C.P.
You should be kept some your skin now easy activate let you pick one suffocation, including all game changes in the obligation to be to streamline works Little <unk> then <unk>.
Also I don't <unk>, we participated in a number of things on T.V. do which you can't access W.W.W. Dot <unk> dot com slash <unk> I see slash 2020.
San Francisco within the hyphen.
These videos I just call. The fact that the security industries on the verge of the major transformation as many of the <unk> offered by your six so vendors are becoming inadequate.
The architecture of our corporate network, he's drastically and rapidly changing.
<unk> quite a while ago and has mentioned earlier because the time to proper you'd be is offering with these need in mind.
These efforts.
<unk> she position in markets and we contribute to innovate.
To innovate first with the N.B.R., which went lighting they <unk>.
The next generation of of C.N.E.D.R., which we expected that either <unk>.
<unk> at the end of the do at the end of the year and D.D.R. 13th December.
In addition, we will have a significant extension similar to our <unk> often providing detection in response capabilities that clause clouds mow by sauce.
Gee I know each environment by I being response give me B.D.D. talk out agent and additionally detection capabilities to a network and then he sees efforts opacity upstanding efforts.
Looking forward, we believe the word that's a topic 19, he's been could be different.
Companies offering to be more focus on reducing costs.
Increasing business fixed community, which is going to be a significant driver to a foster adoption of club based solutions.
The the current uncertain environments, where fortunate.
The statement foundation of recurring revenues and the highly profitable model, which we believe can withstand short term disruptions.
Finally.
Because of the very nature for a business model.
Which is 100% recurrent and the fact that all submissions that become mission creep in like a greater visibility than many other security companies you know industry, even in such a difficult time not to mention Australia profitability.
With that that we tend to cold other to maybe set to just pissed off when I should resign and guidance for the second and food here. It's just good Twentytwenty Melissa.
That's right.
<unk>.
I'd like to reiterate please comment that we have our <unk> everyone on the collar office I'm happy.
Before I start I bike path that except for revenue.
I'll financial factors are nine gap.
Break points are based on comparison caught up higher airport at my favorite otherwise.
Right delighted with our colleagues aren't subscriptions and I'll try product and I try to shine as high strung adoption I.B.M.P.R.
Thanks for foundation of our future revenue <unk>.
Incompatibility.
I can't catch on operational highlight okay.
Revenue for the first quarter try attorney current parts are half percent 6.3 now yeah.
Personally I would I can't write attorney.
<unk> like positively impacted by the timing it allows a parent I'll pass subscriptions somewhat offset by <unk> like <unk>.
Rather than out their anniversary and so on 20 try it.
I haven't spent 5.33%.
<unk> farm adoption can try to increase has the percentage of enterprise customers have three or Mark pilots <unk> I have percentage of enterprise customers. So far Mark <unk>, Okay, 30, chip first hand from 22%.
<unk> subscriptions accelerating 13.4 million over the last 12 months I've Kinda 13.7 million in front of 12 months.
<unk>.
3 million cotton pants for purchase that's quite our by single customer.
And their products rarely <unk>, approximately 44% <unk> I know fucking clutter up from 23%.
So for for that check on curvy and we are.
Do you expect them to the kind of less relevant for about Sars as more van customers for anyway, So the M.P.R. already to kinda quarters.
As far as Hell, Yeah, and I'm fighting a contract going forward, but when clinton traditional aspects relevant to the M.P.R. adoptions have 10% of customers for an hour and a quarter <unk>.
<unk>.
Because then we are from the integration of multiple at C.M.I.B.M.P.R. adoption setting place our strangling alright.
I <unk> pop our motto continues to drive <unk> generate.
<unk>.
I definitely don't care for the first quieter 2020, or 38.2 million representation at 44% March on Christmas Party, 1%.
Killarney Kassberg, 34%.
And our free cash flow for the first quarter of 2020, that's 45.1 million 20%.
Excluding one time cap asks where they talk about that of our company headquarters and then they related payments are free cash flow current 36%.
Okay. Why we continue channel that's attached to generate have for operational back into <unk> hurting.
Point 7 million on capital expenditures for operations, including transfer payments under Capitally top again chance.
It's not like 2.6 million on capital expenditures thing about that approximately headquarters.
And 28.9 million screen contest 346000 interference active outstanding shares.
Our borders authorizing I guess, not trendy or 100 million open market share repurchase part man or something in approximately 200 million inclined sharing purchased capacity.
<unk> Apple capacity to take advantage of any potential stock market that's locations.
No I want to share a thoughts on a potential impact on our business from covered 19, that's here.
<unk> I can't ever consider ourselves our chat relative to other company because we have a strong <unk>.
<unk> and profitable business model.
The fundamental fundamentals of our company remains strong.
We have a healthy balance shape like 435 million of passion remark about security as Amanda quieter and we have now that.
Our experiments in the retail traveling hospitality sector, and stuff and and all less than 5% of our traveling 12 months annual pecans came from customers any segments.
So they were saying consistently our rates across our business and I'll geography solid expansion with existing customers.
It can't per cent of our enterprise customers had five <unk> as we discussed our five plus enterprise customers hadn't gross dollar an hour rate of 99 per cent of 2019.
And we increase the number of customers with over $500000, a frightening years <unk> I.
By approximately 30% to 96 at the end up to one.
Additionally, because our bayes nets are nearly 100 per cent subscription we have good visibility into our financial performance.
Are updated fiscal year 20 guidance range for revenue from from 54 million for fashion and 15 9 million.
Are updated fiscal year 20 revenue guidance assumes that can lead to other companies Iranians maybe impacted in the next one quarter spite organizations that the first purchase has a new solutions as they focus on business operations.
And small and medium sized companies that made me turn your Spanish.
Oh <unk> are updated fiscal year 20 guidance range for Nongaap U.P. assets to 46 to check that they want.
Because of our highly profitable motto, we intended to continue investing had a similar level to what we planned for at the beginning of the year in order to maintain our strong competitive position and try to interact in their growth.
<unk> industry, leading margins on 2020 and continue to put their strong cash flow.
Impact or non gap in P.S. frightened by six cents versus what we've provided box plot or in the recent declining interest rates <unk> well myself in approximately 1 million lower interest income per quarter.
Yeah.
And our teacher guidance for revenue is 88.6 million and our kitchen guidance for non <unk> six to three to six or five times.
For the second quarter, we expect capital Spanish <unk> in the range of five to 6 million, which includes approximately one and a half million about that abruptly headquarters.
Because India has also been operating under shelter and place the timing I spend on our planet headquarters has been pushed out a few months I mean, <unk> <unk> of our original plan spend well a car and the second half of the air.
To follow on police comments, we felt very well positioned during this period of uncertainty cater to value provided by or clap clap warm and our nine caps.
Well as our underlying highly salable operational model.
We believe we will emerge stronger format as our motto enables us to contain both helping our global community and investment per picture robbing a class and profitability.
With that.
And I are happy to answer any of their questions.
<unk>.
[noise] and at this time, I watch where am I never wanted to I can essay question restaurant, one on your telephone keypad.
<unk>.
Your first question comes from one of Daniel Eyes.
Yeah. Thank you.
Maybe you can talk to sleep about putting from a day to day, what you're doing in terms of customers partners to to navigate to to cope with 19 backdrop, maybe just talk about from a day to day, where you're doing just sort of hand old customers and could you comment on.
The month of April versus Mark Thanks.
Okay. So let me maybe yeah. So I mean these is pretty straightforward you are very close to our customers.
Up to date would it be sees that many of our customers are essentially asking some famous true.
Which of course for us it's relatively easy to do assuming of course that goes with Bevan sheets, because one of them to extend payment terms was company that we believe you know of any good bankrupt.
The middle East dimension, well not that much affected you know business by the travel industry in other industries to ultimately we're fortunate there.
So they also what we see coming and that also which give us civilian equal opportunity.
Customers they they want to use this pen.
Because of course, you know caches skiing, and you need to whether we all need to weather.
But it could any could shut down.
So it I I said it with us in a very good 40, 50, because instead of discussing discount.
We speak then about configuration of the stuck.
<unk> multiple solutions and replaced.
<unk> dot com did with C., but system.
The weekend allow then too easy extend the school gained visibility, but also they can reduce significant costs.
Goes everything is centralizing quite it's everything is that the baby you need much less deeper to upgrade these solutions and of course, you had the advantage of having everything done from one dresses.
So that's digit or trends to read these discussions or just everyday with the older for customers and they'll very pleased to see.
I suppose the difference between <unk> nothing much quite frankly, we see that our business is solid we had these kind of discussion listen to discuss.
We add in the early in the is that.
If you could time Q1 with like T. infected I would say by somehow infected by the fact that some new business, where the essentially pushed out.
And some upsetting or were also pushed out.
But now the game that significantly again.
<unk>.
So that's so so we we feel very good.
Okay, great well, thanks again and.
<unk>.
Thank you.
Yeah next question crossing the line of Sterling Arnie.
Hi, guys. This is not on first sterling. Thanks for taking the question in terms of hiring how is the current situation impacted.
You're hiring plans if at all.
Oh, I'm really glad that you're that question because.
We are the very unique but you should keep it off looking through quasars.
So we are in fact, one as if you compare the two that which is continuously hiring we always have been very <unk> hirings. We we go for quality. We don't go for quantities. The now we have a unique unfortunately, because a lot a lot of a lot of people to all worried in their companies.
And and the sequel uses the Shining star. So we have been interviewing a lot in fact.
The.
Once of course, and what could you didn't <unk>. So there's no I rings freeze below again very deliberate.
After and then just just one quick follow up.
<unk>, which products would you say are you feel or arm it'd be a more positively impacted by the current situation have you seen you know shift in in customer preference in terms of which applications, they're they're using qualities for thanks, Yeah. Yeah. That's another <unk>. That's a that's a great question is.
So the.
Obviously, everything which is remotes is hot.
That's why we launch a you know record time that the free and phone protection services could there be easy for us to patch or for the Internet's, which is very unique ratio based company can do that.
That is being absolutely fantastic response, as I've mentioned during the earning cord and now we're going to add to the the very soon.
In a couple of weeks three weeks or the most their ability to detect malware and that's it is up for our mixed big application to come.
Which is <unk> E.D.R., which we're planning to essentially announce and the and then either in December.
And that's obviously, a very hot market, because you need to be not only <unk> you need to really know what you have out there. So the beauty of <unk> agent is that today, what agents, obviously, if the older windows and Mac perjuring et cetera on Unix, but we also know agent.
The Android an I.U.S.
And then there's also the new word of the cloud and container security and so forth <unk> extremely what position. So you already started very very British because we put these many many years of Architecting as mentioned some of the some of the performance about that said, it's incredible that it didn't happen.
In one day and for any company today to really be is at the skated which quality for these and bringing all that information into one single platform. So you could eliminate folks not the department of a P.D.L. solutions to did they exist that many supposed supposed to do.
So odd you manage.
<unk> remotely.
Very difficult so you better as a minimum force, but geez and then easy to be able to do everything reports you still well introducing very soon <unk> the capabilities to do the response side, which is killing processes anyway. These other things.
So <unk>.
Yeah, so much crap.
To to add ons definitely upon that you know, we often here and they talked about this not prepared remarks, and then we are is very well positioned in this environment, because it's a very attractive value proposition integrating multiple applications and <unk>. You know, we can't expect a second chance trying adoption and the benefit process.
Yeah as you talked about customers have multiple solutions, you know, having crazy kicking ass and it drives collaboration of our cloud any chance for 10 have like a train for foundation acquire further up south of additional pay kirshin.
Yeah, and then we let or should we wouldn't be so yeah absolute people go to measure that may just I think you the keys that lets you. If some before computers just went to of course, they're all they're scared it'd be it'd be off because it's really really a good it's a true game changer, and so whether 20 pains B.M.D.R.O. is just a bunch of the solution no. It's none of the under the solution.
Well the older recall data into one place and then as a result of that we can provide older workers and everything into a single out.
So this is the ability to sushi detect 80 devices that connects to your network is trying to figure out with the device you decide whether you want to manage that you buy it creates a real but I just have you been tree then create the x.'s groups or you could now go and look at you'll go to beaches that costs on trendy and point dangers whether education.
<unk>.
And then prioritize whether toting you probably position engine wishes far ahead of everything that the conditional.
And then finish the radiation like touching and know soon are going to have the teacher. So current time. So you already knew one single out from the beginning the detection to up to the radiation or to the response and that's what recorded the management detection and response and you would see the same thing happening with the new.
<unk> said wanting to do for identifying all your specifications.
Defined for your father position and again, he <unk> and phones.
And I mean that could be beaches of response and of course, it as well as you're more bought in five minutes and then shoot very soon the O.G.N.A., which environment all of that because of the power of the pet phone, but <unk> and the ability to collect all that that in the tree and bring that to the image into one place nobody nobody has to be that because it's time.
But we've got enough.
Great I appreciate all color there has thanks.
Here next question comes to light up young Kim.
Thank you I fill up in those have you guys are doing well unsafe.
Off to the overall cloudy doing adoption I think this was probably the strongest sequentially growth quarter by a mile. Even if you.
Out one customer purchasing.
Ages.
Which I am assuming with I.B.M.D.R., driven but can you just talk about the strength in your car adoption.
Guys too you know where are you I see the adoption I'll get caught agents, even more important Kevin.
I'm, even more broad days, all you see <unk> I'll find a cloudy environments as well.
Yeah. No. This is another very good question as well so the reality is that it's everywhere.
You have to realize that do under 38 million agents in fact, we <unk> hundreds of millions of they drink the billions of agent.
You have to have the right architecture. So he took us obviously sometime yeah that you need to deploy then you should they then usually just so there's a lot of engineering work behind the scene. So we started early on with the slower <unk>, replacing old traditions scanning which of course you are very good but doesn't give you the real time.
So that's where we initially started now today of course right now.
Why didn't she out and so what branching out to the end points as I mentioned earlier, you see that that's free service that we delivered 500 companies during now two.
<unk> 1 million agent.
That of course, I'll now installed or in the process or being stored and therefore or the upgrade capabilities and then of course. The cloud is another Greens G. is where of course, you you need to have agent to really know what you have into the into your <unk>. There's no other <unk> architecture certain each up connectors.
To bump up the data from just platforms and then you you need to have agent to I've been more internal in bulk Runny review.
Side as well so again, it's all about the architecture and that's worth a lot of work.
We needed to be able to deploy a that's gay. We are doing is now would you then you need to collect the data is node by accident, but today, we let nine.
<unk>.
<unk> continuously you know bring the changes back into the platform. So you two other computing power and the 96 and local study more more much in learning another addiction to the back huh. So we couldn't really treat that did I in real time, whether response time today.
<unk> cluster about 200 milliseconds.
So which is again very very favorite issue.
So no. This is over the teachers that simple.
Yeah, I go to add up.
Just to add on the on as you point, it out and sweet stuff and everything acceleration contingents adoption electro very excited about enhance the arguing play a big rolling it to that one large customer that have to 3 million that's actually a separate that from the M.B.R. somebody I'm guaranteed playing baseball in Dragon Huntington adoption.
That's why you know we had talked about the apartments and <unk> the <unk> how exciting they were about it because it gives us some potential.
<unk> try perforation county, and stuff internally and at the endpoint and also initially pointed out was saying very day adoption like afraid <unk>, but that's not according to pay prescription. So that's awesome additional outside in the future for us.
Okay, great. Thanks, so much would that I just have a question around just a.
<unk> you know the core of your market that.
Titanic stare and pricing.
In the core via market <unk> S.P.
Dropped 3% I mean, you're pressing needs <unk> at the lower end of your range typically.
Talk about the market dynamics.
<unk>.
No that that I need some very clear because I think <unk> was it oh customers love. It. This is the adoption or B.M.D. always going to be very far we believe and you don't get to see even before the before the solution was even <unk> visibility in in the shape, who had already adoption and it's x. degrading every customer who.
Discuss with his B.M.B.R. is that allows us to signed up some of the I would say questionable tactics of some of our competitors was <unk> there are times, because it absolutely need to bring up nine revenues because of calls on the profitable.
No today with the N.D. or what the purpose of 22. They don't talk with we are so they'll so far below so what's the purpose of yeah. It may be able to just the traditions skimming you could drop the prices what about all these other thing do you guys are good religious even tree active you just know you're doing do you have very good position, but were you doing do you have religion.
And that can because I quoted no you don't so it doesn't <unk> position to fend off you know these kind of that.
Syntactic and and so we've seen very good about the U.M.T.I. market I think one that when the position to really go out and gain market share.
Okay, great. Thank you so much.
Okay.
Your next question costs, a lot of make make huh.
You guys. Thanks to take my question.
The company Now's, a number of free offerings that that all seem to be gaining contraction in the market, especially in this environment.
Just hoping you could discuss the likelihood you can convert these users into paid customers and then maybe when we could see it show up in in the numbers.
Okay. Most of the very good question also so what we've done with these free services is that as I mentioned. This thing is the last quarter, we've been the team, including younger true called the technical account representative and they they're not they're just says Oh, there too as customers in boarding onboarding. These free offering end as well as twice.
<unk>.
Because at the end of the day.
The buying patting of changing today, it's essentially more word where you twice in body like today more and more up to <unk> more and more people know realize that it's much easier to shop online.
Than to go to the store and so the same thing is that being here. So all these free services are essentially a very cost effective way to do lead generation and then because we on board then properly.
Then of course with no that'd be sure whether you're good relationship with these people and then we can discuss about potential upsetting and one of the table. So we do with his for service, we do not <unk>. The customer you know the words are free service you do the job and target is now Oh, but if you want that you need to pay more so.
More the the the tendency to cross said so it takes a little longer either way that he's supposed to give the customers are very good experience under the value of qualities and so we see for example today with all good I've just been tree, which no by the way. It's all of the N.B.R. then we start to see customers that Dr.
Now the additional things solutions, which are complementary like the ability to detect focus not the <unk> end of life software.
Like the synchronization with your C.N.D.D. and so I think wasn't very good position because it's very leading to provide these free service because again the platform is the delivery. We <unk>, we don't need people to go to install anything <unk> <unk>, it's a very folk food marketing machine, but.
Just hard by the way of the P. of dish or marketing in India. So what would you do more and more of those programs and really crazy for me to build a machine, which I call. The marketing machine, so whether formidable machine with a platform itself and now we're building a formidable marketing machine this but.
<unk> picking right because we're letting our customers by at their own hands on as it has channel and it's very important <unk>.
Have sounds far and I'd have got to push on product that customers ultimately nominate a clay because they're hotline turn you attended the day.
So that's not out as pretty point it out and I was very cost effective tourist has the the <unk>. The distribution channel. We believe it I'll tell increasing was taking it to Marshall issue.
Okay, great well, maybe if one follow up free for you more so as it relates to the the outlook for the year and you're prepared remarks, you mentioned that you expect some deals for new solutions to get deferred who was wondering if you could just maybe talk about some of the underlying macro assumptions embedded in your.
For your God.
Yeah, Thanks, <unk>, having to go into that so yeah, we had a good quarter and can't we talked about the adoption or something the N.T.R. and as you pointed out what I found was that I have the guidance are based on potential and lack of channels.
Yeah, and that's how 'bout conference and the range was really around the range was really round announcing that impact as I like <unk> for business impacted by cooperating so far.
<unk>, well, we're not saying okay.
At the lower end of the range for assuming some potential impact on <unk>.
Customers, especially at the lower end.
The lower end doesn't really drive a lot of dollars for us and we say like the M.P.R. actually give her you know very attractive value proposition to actual transferring or range are we want it to be appropriately cautious can hand, sorry, I can't round cover at 19.
Nixon thanks, guys.
Oh, thank you.
Okay enough or closing remarks.
<unk>.
Okay. So thank you very much for attending Oh earnings calling your questions. So these are obviously changing times, but do we feel fortunate to be very with position without club platform and including all game changing thing in New York vacation walk engineering to grow old <unk> are gonna <unk>.
During the cold so we emerge stronger than ever to serve all global community employees and shoulders I old all of you remain safe and empty and that the country is back in business space or.
Thanks again.
<unk> today's conference call Yeah, Nowadays connect.
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