Q2 2024 CXApp Inc Earnings Call

August 12, 2024

Good afternoon, and welcome to the CX AI second quarter 2024 earnings Conference call.

Operator: Good afternoon, and welcome to the CXAI second quarter 2024 earnings conference call. At this time, all participants are in a listen-only mode, and Mr. Sheikh will be answering questions submitted via the webcast following the conclusion of the slide presentation. Please be advised that this call is being recorded. Now, I would like to turn the conference over to Mr. Khurram Sheikh, Chairman and CEO of CX App Inc.

Operator: Good afternoon and welcome to the CX AI second quarter 2024 earnings conference call. At this time, all participants are in a listen-only mode, and Mr. Sheikh will be answering questions submitted via the webcast following the conclusion of the slide presentation. Please be advised that this call is being recorded.

At this time all participants are on a listen only mode are Mr. Shake will be answering questions submitted via the webcast. Following the conclusion of the slide presentation.

Please be advised that this call is being recorded.

Operator: I know I would like to turn the conference over to Mr. Khurram Sheikh, Chairman and CEO of CX App Incorporated. Please go ahead, sir.

Speaker Change: And now I would like to turn the conference over to Mr. Core I'm Shake Chairman and CEO of CX App incorporated.

Speaker Change: Please go ahead Sir.

Speaker Change: Thank you operator.

Khurram Sheikh: Thank you, operator. And thank you, everyone, for joining the quarterly earnings call for CX AI for Noun Sky. I plan to discuss Sky's financial results for the second quarter of 2024. I will also provide an overall business update on our progress in shaping the future of work and creating transformative employee experiences. By now, everyone should have access to our earnings press release announcement. We have also filed our quarterly earnings report or 10-Q for Q2 2024 with the SEC today. This information will also be found on our website, www.cxapp.com.

Khurram Sheikh: Thank you, operator. And thank you, everyone, for joining the quarterly earnings call for CXAI, pronounced Sky. I plan to discuss Sky's financial results for the second quarter of 2024. I will also provide an overall business update on our progress in shaping the future of work and creating transformative employee experiences. By now, everyone should have access to our earnings press release announcement.

Speaker Change: And thank you everyone for joining our quarterly earnings calls with CX yard pronounced sky.

Speaker Change: Turning to discuss <unk> financial results for the second quarter of 2024.

Speaker Change: I will also provide an overall business update.

Speaker Change: On our progress in shaping the future of work and creating transformative employee experiences.

Now everyone should have access to our earnings press release announcements. We are we have also filed our quarterly earnings report or change you for Q2 2024 with the SEC. Today. This information will also be found on our website Www Dot T X.

Khurram Sheikh: We have also filed our quarterly earnings report or 10-Q for Q2 2024 with the SEC today. This information will also be found on our website, www.cxapp.com. With that, I'm going to move on to... show some disclaimer slides which people can review at their own leisure.

Khurram Sheikh: We have also filed our quality earnings report or 10-Q for Q2 2024 with the SEC today. This information will also be found on our website, www.cxapp.com. With that, I'm going to move on to... show some disclaimer slides which people can review at their own leisure.

Speaker Change: Dot com.

Khurram Sheikh: With that, I'm going to move to show some disclaimer slides, which people can review at their own leisure. So now let me tell you a little bit about the company CX AI Sky. We are listed on NASDAQ, as you know. We're an AI course enterprise software company, you know, creating a new segment in software called employee experiences. We're headquartered in the San Francisco Bay Area, but we have design and development resources all over the globe, with main hubs Toronto and Manila. More importantly, we have customers that are globally situated, although all our customers are headquartered in North America.

Speaker Change: With that I'm going to move to.

Speaker Change: Sure some disclaimer slides, which people can review at their own leisure.

Speaker Change: Yeah.

Speaker Change: Right.

Speaker Change: So now let me tell you a little bit about the company <unk> Sky. We are listed on NASDAQ as you know we're in the Air Force Enterprise software company.

Khurram Sheikh: So now, let me tell you a little bit about CXAI Sky. We are listed on Nasdaq, as you know, we're an AI-first enterprise software company creating a new segment in software called Employee Experience. We're headquartered in the San Francisco Bay Area, but we have design and development resources all over the globe, with main hubs in Toronto and Manila.

Khurram Sheikh: So now, let me tell you a little bit about CXAI Sky. We are listed on Nasdaq, as you know, we're an AI-first enterprise software company creating a new segment in software called Employee Experience. We're headquartered in the San Francisco Bay Area, where we have design and development resources all over the globe, with main hubs in Toronto and Manila.

Speaker Change: Creating a new segment in software called employee experiences we're headquartered in San Francisco Bay area, where we have design and development resources all over the globe with main hubs in Toronto in Manila.

Khurram Sheikh: More importantly, we have customers that are globally situated, although all our customers are headquartered in North America, where we're deployed in around 200 plus cities in 50 countries on all five continents, which tells you the depth and breadth of our capability and our span across the globe. Our customers are Fortune 1000 companies that have great enterprise capabilities globally. The reason why they choose CXAI or Sky is because we have a great technology platform that's built on 37 files and 17 grand of patents. And this team of 80 innovators globally is made mostly of engineers, so more than two-thirds of the team is engineering.

Khurram Sheikh: More importantly, we have customers that are globally situated, although all our customers are headquartered in North America, where we're deployed in around 200 plus cities in 50 countries on all five continents, which tells you the depth and breadth of our capability and our span across the globe. Our customers are Fortune 1000 companies that have great enterprise capabilities globally. The reason why they choose CXAI or SCAI is because we have a great technology platform that is built on 37 files and 17 grand of patents, and this team of 80 innovators globally is made mostly of engineers, so more than two-thirds of the team is engineering. But all our colleagues are great collaborators, innovators, and design thinkers that are creating the next generation of the future of work.

Speaker Change: More importantly, we have customers that are globally situated although all are.

Speaker Change: Customers are headquartered in North America, where we're deployed in around 200, plus cities in 50 countries and all five continents, which tells you the depth and breadth of our capability and our band across the globe.

Khurram Sheikh: We're deployed in around 200 plus cities in 50 countries in all five continents, and we tell you the depth and breadth of our capability and our pen across the globe. Our customers are Fortune 1000 customers that have great enterprise capabilities globally. The reason why they choose CX AI or Sky is because we have a great technology platform that built on 37 styles and 17 grand of pants. And this team of 80 innovators globally is made mostly of engineers, so more than two thirds of the team is engineering, but all our colleagues are great collaborators, innovators, and design thinkers that are creating the next generation of the future work.

Speaker Change: Our customers are fortune 1000 customers that have.

Speaker Change: Great enterprise capabilities globally.

Speaker Change: The reason why they choose <unk> or sky is because we have a great technology platform that is built on 30, <unk> filed and 17 granted patents and his team of 80 innovators globally is made mostly of engineers. So more than two thirds of the team is engineering, but all our colleagues are great.

Khurram Sheikh: But all our colleagues are great collaborators, innovators, and design thinkers who are creating the next generation of future work. So this is where we're super excited to share with you the progress we've made, the outcomes we have, and I'm going to start by, before I go forward, I'm going to talk a little bit about the market and see what's shaping the market, what's happening in the market, so you can see.

Speaker Change: Collaborators innovators and design zinc or recruiting the next generation of the future of work. So this is where we're super excited to share with you. The progress we've made the outcomes, we have and I'm going to start by before I go forward I'm going to talk a little bit about the market.

Khurram Sheikh: So this is where we're super excited to share with you the progress we made, the outcomes we have, and I'm going to start by, before I go forward, I'm going to talk a little bit about the market and see what we're, what what's shaping the market, what's happening in the market so you can see. But first of all, it's very obvious that the world is going to an AI-centric world where transformation is happening across all classes of the industry. And we are the company that is changing the transformation or transforming the workplace as we speak.

Khurram Sheikh: So, this is where we're super excited to share with you the progress we've made, the outcomes we have, and I'm going to start by, before I go forward, I'm going to talk a little bit about the market and see what's shaping the market, what's happening in the market, so you can see. But first of all, it's very obvious that the world is going to an AI-centric world where transformation is happening across all facets of the industry, and we are the company that is changing the transformation or transforming the workplace as we speak.

Speaker Change: And see what where whats shaping the market what's happening in the market.

Speaker Change: As you can see.

Khurram Sheikh: But first of all, it's very obvious that the world is going to an AI-centric world where transformation is happening across all facets of the industry, and we are the company that is changing the transformation or transforming the workplace as we speak. Let me talk about the market. What is happening in the market? What do we see in the market right now? It's obvious that the work from home was the predominant use case during the pandemic, and work from home is now stabilizing at around 25% of days, which is around one to two days a week, which is still a five-fold jump from 2019 when we had less than less than five percent of people working from home. The work from home is staying. It's not going away.

Speaker Change: But first of all it's very obvious that the world is going to an AI centric world where transformation that's happening across all facets of the industry and we are the company that is changing the transformation or transforming the workplace as we speak.

Khurram Sheikh: Let me talk about the market. What is happening in the market? What have we seen in the market right now? It's obvious that the work from home was the predominant use case during the pandemic. And work from home is not stabilizing it around 25% of days, which is around one to two days a week, which is still a fight for jump from 2019 when we had less than less than 5% people working from home. The work from home is staying. It's not going away. It's also becoming more stable, more predictable. Now, as you look there, there's also a trend happening in terms of what's happening with the office occupancy.

Khurram Sheikh: Let me talk about the market. What is happening in the market? What do we see in the market right now? It's obvious that work from home was the predominant use case during the pandemic, and work from home is now stabilizing at around 25% of days, which is around one to two days a week, which is still a five-fold jump from 2019 when we had less than 5% people working from home.

Speaker Change: So let me talk about what about the market what is happening in the market what do we see in the market right now.

Speaker Change: It's obvious that the debt.

Speaker Change: Work from home was the predominant use case during the pandemic.

Speaker Change: And work from home is now stabilizing at around 25% of days, which is around 1% or two days a week.

Speaker Change: Which is still a fivefold jump from 2019, when we had less and less than 5% people working from home to work from home is staying is not going away is also becoming more stable more predictable.

Khurram Sheikh: The work from home is staying, it's not going away. It's also becoming more stable and predictable. Now, as you look there, there's also a trend happening in terms of what's happening with office occupancy. During COVID and post-COVID, there was a rising occupancy in the marketplace. It's flattening out for the last number of years.

Khurram Sheikh: It's also becoming more stable and predictable. Now, as you look there, there's also a trend happening in terms of what's happening with office occupancy. During COVID and post-COVID, there was a rising occupancy in the marketplace. It's flattening out for the last number of years.

Speaker Change: As you look there there's also a trend happening in terms of what's happening with your office occupancy.

Khurram Sheikh: During COVID and post-COVID, there was a rising occupancy in the marketplace. It's flattening out for the last number of years. So, last two years is that you flattened around 50% or 2019 levels. This data shows that now we're in a position of stability or at least a new work norm is being implemented.

Speaker Change: During Covid and post Covid, there was a rising occupancy in the marketplace. It's flattening out for the last number of years. So last two years is that if you plan to around 50%. Our 2019 levels. This data shows that now we're in we're in a position of stability or at least a new work.

Khurram Sheikh: So, in the last two years, it's actually flattened to around 50% of 2019 levels. This data shows that now we're in a position of stability, or at least a new work norm is being implemented. This data that I've shown you is courtesy of Professor Nick Bloom at Stanford, who is the leading thought leader in this space. And as you can see, there's a lot that has changed, but now there's a new norm, which is called hybrid work.

Speaker Change: <unk> is being implemented.

Khurram Sheikh: This data that I showed you is from courtesy of Professor Nick Luma Stanford, who is leading thought later in the space. And as you can see, there's a lot that has changed, but now there's a new norm, which is called hybrid work. So what is hybrid work and why is hybrid work so important? As you can see, 37% of US companies have now embraced a structured hybrid model, which is up from 20% in Q1 of 2023. If you look carefully at this chart, it's obvious that the world is going toward the structured hybrid model. There are people that are fully flexible.

Speaker Change: This data that I assure you is from a courtesy of professor Nick Loomis Stafford, who is the leading thought leader in this space.

Khurram Sheikh: So what is hybrid work and why is it so important? As you can see, 37% of U.S. companies have now embraced a structured hybrid model, which is up from 20% in Q1 of 2023. If you look carefully at this chart, it's obvious that the world is going towards a structured hybrid model. There are people that are fully flexible.

Speaker Change: And as you can see there's a lot that has changed but now there's a new norm, which called hybrid work. So what is hybrid work and why its hydro bookstore imported.

Speaker Change: As you can see.

Speaker Change: 37% of U S companies have now embraced a structured hybrid model, which.

Speaker Change: Which is up from 20% in Q1 of 2023.

Speaker Change: If you look carefully at this chart, it's obvious that the world is going towards the structured hybrid model. There are people that are fully flexible there are companies still doing full time in the office, but the structured hybrid seems to be the most successful and most useful mall out there.

Khurram Sheikh: There are companies still doing full time in the office, but the structured hybrid seems to be the most successful and most useful model out there. And managers have shown that have reported that there's an increase in productivity, there's increase in work like balance, and there's reduced burnout. Employees want to be giving the opportunity to have their flexibility; that flexibility is key to the success of workplace experience. As we move forward in this structured hybrid world, what is that entails, that entails all of these large customers, a large fortune 100 and 1000s, they're adopting that more and more, that you can see more than 67% of the companies with 25,000 plus employees are using structured hybrid.

Khurram Sheikh: There are companies still doing full time in the office, but the structured hybrid seems to be the most successful and most useful model out there. And managers have reported that there is an increase in productivity, there is an increase in work-life balance, and there is a reduced burnout. And employees want to be given the opportunity to have that flexibility. That flexibility is key to the success of the workplace experience. As we move forward, in this structured hybrid world, what does that entail? That entails all of these large customers, of course, large Fortune 100 and 1000 companies. They're adopting that more and more.

Khurram Sheikh: There are companies still doing full time in the office, but the structured hybrid seems to be the most successful and most useful model out there. And managers have shown and reported that there's an increase in productivity, there's an increase in work-life balance, and there's reduced burnout. And employees want to be given the opportunity to have that flexibility. That flexibility is key to the success of the workplace experience. As we move forward in this structured hybrid world, what does that entail?

Speaker Change: And managers have shown that have reported that there was an increase in productivity that increase and work life balance and theres reduced Bernard employees want to be.

Speaker Change: Give me the opportunity to have that flexibility that flexibility is key to the success of workplace experience.

As we move forward.

Speaker Change: In the structured hybrid world, what does that entail that entails.

Khurram Sheikh: All of these large customers of ours, large Fortune 100 and 1000 companies, they're adopting that more and more. As you can see, more than 67% of the companies with 25,000 plus employees are using structured hybrid. And most of our customers are in that same footprint, either 25,000 or in the 5 to 25,000 range.

Speaker Change: All of these large customers or large fortune 101000, they're adopting that more and more data you can see more than 67% of the companies with 25000 plus employees are using structured hybrid.

Khurram Sheikh: As you can see, more than 67% of the companies with 25,000 plus employees are using structured hybrid. And most of our customers are in that same footprint, either 25,000 or in the five to 25,000 range. At the same time, this phenomenon, this trend, is gonna grow over and over across all sectors. So we believe that this is going to be the way of the future, and Structured Hybrid is where the world is going, and there's no going back on this.

Khurram Sheikh: And most of our customers are in that same footprint, either 25,000 or in the 5 to 25,000 range. At the same time, this phenomenon, this trend is going to grow over and over across all the segments. So we believe that this is going to be the way of the future, and structured hybrid is where the world is going. And there's no going back on this. This is the way industries is performing in terms of how enterprises are expecting workers to come back to the office or work from the home. They're actually working from anywhere and giving the capability and the tools and technologies to allow them to be successful in any environment.

Speaker Change: And most of our customers are in there.

Khurram Sheikh: At the same time, this phenomenon, this trend, is going to grow over and over across all the segments. So we believe that this is going to be the way of the future, and Structured Hybrid is where the world is going, and there's no going back on this. This is the way the industry is performing in terms of how enterprises are expecting workers to come back to the office or work from home.

Speaker Change: Footprint, either 25000 or in the five to 25000 range at the same time this phenomena in this play.

Speaker Change: <unk> is going to grow over and over across all the segments. So we believe that this is going to be the way of the future and structure hybrid is where the world is going.

Speaker Change: And there is no going back on this this is the way industries.

Khurram Sheikh: This is the way the industry is performing in terms of how enterprises are expecting workers to come back to the office or work from home. They're actually working from anywhere and giving them the capability and the tools and technologies to allow them to be successful in any environment. When we think about the challenges of hybrid work, this is where the biggest thing that's come out is hybrid coordination. And hyper coordination is tied to the fact that as these employees are trying to figure out the new working arrangement, there's still a lot of things to work out. The challenge is to get the most out of the return to office and remain productive.

Speaker Change: Is performing in terms of our enterprises are.

Speaker Change: Expecting workers to come back to the office or work from the home dig actually working from anywhere and if given the capability in the tools and technologies to allow them to be successful in any environment.

Khurram Sheikh: They're actually working from anywhere, and they have the capability and the tools and technologies to allow them to be successful in any environment. So when we think about the challenges of hybrid work, this is where the biggest thing that's come out is hybrid coordination. And the hyper coordination is tied to the fact that as these employees are trying to figure out the new working arrangement, there's still a lot of things to work out.

Speaker Change: So when we think about the challenges of hybrid work. This is where the biggest thing that's come out is the hybrid coordination tax and the hydro coordination that is tied to the fact that as these employees are trying to figure out their new working arrangements. There is still a lot of kinks to work out.

Khurram Sheikh: When we think about the challenges of hybrid work, this is where the biggest thing that's come out is the hybrid coordination tax. And the hybrid coordination is tied to the fact that, as these employees are trying to figure out the new working environment, there's still a lot of things to work out. The challenges to get the most out of the return to office and remain productive at the same time: the logistics of actually meeting with people you need to do when some are working in person, other are working virtually. It's an effort. It requires coordination.

Speaker Change: The challenge is to get the most out of the return to office and remain productive at the same time, the logistics of actually meeting with people you need to do.

Khurram Sheikh: The challenge is to get the most out of the return to the office and remain productive. At the same time, the logistics of actually meeting with people you need to do, when some are working in person, others are working virtually, it's an effort. It requires coordination; it can be found at www.kinstech.com.

Khurram Sheikh: At the same time, the logistics of actually meeting with people you need to do when some are working in person, others are working virtually, it's an effort. It requires coordination, it requires, you know, consultation, and all of that can be enabled by technology. No longer are phone calls only or emails only.

Speaker Change: When somewhere working in person other working virtually it's an effort it requires coordination it requires.

Khurram Sheikh: It requires, you know, consultation and all of that can be enabled by technology. No longer phone calls only, or emails only. It has to be the ability to coordinate successfully across all digital platforms. That's the power of communication. That's the power of intelligent platform, and that's what Sky does, and we'll talk about that in a minute. The other part that's important is that the time taken with these coordinations and the setting of these meetings and conferences and others is becoming a bear on people. It's taking 37% of their time, which, in some cases, is costing companies tens of thousands of dollars per employee.

Speaker Change: Cause consolidation and all of that can be enabled by technology no longer phone calls only or emails only it has to be and the ability to a coordinated successfully across all digital platform. That's the power of communication, that's the power of Intel.

Khurram Sheikh: It has to be the ability to coordinate successfully across all digital platforms. That's the power of communication. That's the power of an intelligent platform and that's what Sky does, and we'll talk about that in a minute. But the other part that's important is the time taken with these coordinations and setting up these meetings and conferences and others is becoming a bear on people. It's taking 37% of their time, which in some cases is costing companies tens of thousands of dollars per employee.

Khurram Sheikh: And that's what Sky does, and we'll talk about that in a minute. The other part that's important is the time taken with these coordinations and setting up these meetings and conferences and others is becoming a bear on people. It's taking 37% of their time, which in some cases is costing companies tens of thousands of dollars per employee. That's a huge cost issue. But more importantly, the return to office mandates have really not worked out for a lot of employees and employers.

Speaker Change: Intelligent platform and Thats Sports Guide Us and we'll talk about that in a bit.

Speaker Change: The other part that's important is the time taken with these coordinations in the setting of these meetings and conferences and other is is becoming a bear when people is taking 37% of the time, which in some cases is costing companies tens of thousands of dollars.

Speaker Change: Per employee.

Khurram Sheikh: So that's a huge cost issue. More importantly, the return to office mandates have really not worked out for a lot of the employees and the employers. And what we call is a new vernacular called Hush Hybrid where coffee badging and shadow policies are in place. Coffee badging means that you could go to your office, you badge yourself, and you put your cup of coffee, and you walk out five minutes later because they're only checking you when you check in. They don't know when you're checked out. Well, that's happening a lot, and there's data out there showing 50% of hybrid workers are coffee badging, and then they're having shadow policies where they're talking to the manager to allow them to have flexibility to do things differently or to allow them some flexibility in the timings.

A huge cost issue.

Khurram Sheikh: That's a huge cost issue. But more importantly, the return to office mandates have really not worked out for a lot of employees and employers. And what we call a new vernacular called hush hybrid, where coffee badging and shadow policies are in place. Coffee badging means that you could go to your office, you badge yourself in, you pour yourself a cup of coffee, and you walk out five minutes later because they're only checking you when you check in. They don't know when you checked out.

Speaker Change: More importantly, the return to office mandates have renal worked out for a lot of the employees and employers and what we call as the new.

Khurram Sheikh: And what we call a new vernacular called hush hybrid, where coffee badging and shadow policies are in place. Coffee badging means that you could go to your office, badge yourself in, you pour yourself a cup of coffee, and you walk out five minutes later because they're only checking you when you check in. They don't know when you're checked out.

Khurram Sheikh: Well, that's happening a lot. And there's data out there showing 50% of hybrid workers are coffee badging. And then they have shadow policies where they're talking to the manager to allow them to have the flexibility to do things differently or to allow them some flexibility in the timing. All that is good as long as there's awareness, there's transparency, and there's the ability to understand what is happening and how to actually manage that. It's important to know this hush hybrid is happening across the workplace, and we're seeing it with our customers too.

Speaker Change: Vernacular call Hush hybrid where coffee badging and shadow policies are in place hopefully badging means that you could go into your office you Bad yourself and you put a cup of coffee and you walk out assignments later, because they are only checking you when you check in their own no. When you checked out well that's that's happening a lot.

Operator: Good afternoon and welcome to the CX AI Second Quarter 2024 Earnings Conference call. At this time, all participants are on a listen only mode and Mr. Sheikh will be answering questions submitted via the webcast following the conclusion of the slide presentation. Please be advised that this call is being recorded.

Khurram Sheikh: Well, that's happening a lot, and there's data out there showing 50% of hybrid workers are coffee badgering. And then they have shadow policies where they're talking to the manager to allow them to have the flexibility to do things differently or to allow them some flexibility in the timing. All that is good as long as there's awareness, there's transparency, and there's the ability to understand what is happening and how to actually manage that. It's important to know this hush hybrid is happening across the workplace, and we're seeing it with our customers, too, and we're finding out that these customers need solutions for that. So when you think of the challenges, this world has gone to the hybrid world. We have to find solutions for that. So, coming over to now, what are we doing?

Speaker Change: And does the data out there showing 50% of hybrid workers are coffee Badging and then they are having shorter policies, where they are talking to the manager to allow them to have flexibility to do things differently or.

Khurram Sheikh: I know I would like to turn the conference over to Mr. Khurram Sheikh, Chairman and CEO of CX App Incorporated. Please go ahead, sir. Thank you, operator. And thank you everyone for joining the quarterly earnings call for CX AI for Noun Sky. I plan to discuss Sky's financial results for the second quarter of 2024. I will also provide an overall business update on our progress in shaping the future of work and creating transformative employee experiences.

Speaker Change: To allow them some flexibility in the timing all of that is good as long as there's awareness is transparency visibility to understand what is happening and how to actually manage that.

Khurram Sheikh: All that is good as long as there's awareness, there's transparency, there's an ability to understand what is happening and how to actually manage that.

Khurram Sheikh: So it's important to know this Hush Hybrid is happening across the workplace, and we're seeing it with all customers too, and we're finding out that these customers need solutions to that.

Speaker Change: Important to know this hush hybrid is happening across the workplace and we're seeing it with our customers to and we're finding out that these customers need solutions to that.

Khurram Sheikh: And we're finding out that these customers need solutions for that. So when you think of the challenges, this world has gone to the hybrid world. We have to find solutions for that. So coming over to now, what are we doing?

Khurram Sheikh: So when you think of the challenges, this world has gone to the hybrid world, we have to find solutions to that. So, coming over to now, what are we doing? Why are we doing this? And why is it an AI centric solution so critical to this? So with CXDI, we have built this for this real purpose, and the purpose we built it for is to create transformational employee experience end-to-end. And when we think about the transformation, it's happening all the way from the time the employee starts their day to the time they hang up their forms for the day.

Speaker Change: When you think of the challenges. This wall is gone to the hybrid world, we have to find solutions to that.

Khurram Sheikh: By now, everyone should have access to our earnings press release announcement. We have also filed our quarterly earnings report or 10Q for Q2 2024 with the SEC today. This information will also be found on our website, www.cxapp.com.

Khurram Sheikh: Why are we doing this? and why is an AI-centric solution so critical to this? So with CXDI, we have built this for this real purpose, and the purpose we built it for is to create a transformational employee experience end to end. And when we think about the transformation, it's happening all the way from the time the employee starts their day to the time they hang up their phone for the day. So Sky is a unique enterprise employee experience platform that powers seamless connections across people, places, and things, and enables a best-in-class workplace environment your people will love.

Khurram Sheikh: Why are we doing this? and why is an AI-centric solution so critical to this? So with CXEI, we have built this for this real purpose, and the purpose we built it for is to create a transformational employee experience end-to-end. And when we think about the transformation, it's happening all the way from the time the employee starts their day to the time they hang up their phone for the day. So Sky is a unique enterprise employee experience platform that powers seamless connections across people, places, and things, and enables a best-in-class workplace environment your people will love.

Speaker Change: Coming over to now what are we doing why are we doing this and why is an AI centric solutions. So critical to this.

Speaker Change: So with <unk>, we have built this for this real purpose and the purpose. We built it for is to create transformational employee experience end to end and when we think about the transformation is happening all the way from the time the employee starts the day to the time the Hangup is once a day.

Khurram Sheikh: With that, I'm going to move to show some disclaimer slides which people can review at their own leisure. So now let me tell you a little bit about the company CX AI Sky. We are listed on NASDAQ as you know, we're an AI course enterprise software company, you know, creating a new segment in software called employee experiences. We're headquartered in the San Francisco Bay Area, but we have design and development resources all over the globe with main hubs Toronto and Manila.

Khurram Sheikh: So Sky is a unique enterprise employee experience platform that powers seamless connections across people, places, and things, enables a besting class, workplace environment your people will love. It is true enterprise solution designed for millions of users. It provides enterprise great security and supports of 100 integrations with core persistence. These integrations enable large amounts of experiential data in feed, skies, powerful analytics, suggesting new ways to improve employee productivity and engagement. As you can see, the way we've thought about Sky is a shift towards an AI centric approach and workplace innovation. Sky seems to integrate customer experience CX with artificial intelligence AI, focus around the employee to deliver solutions and transform the way work happens, making work spaces more intuitive and efficient, leading to happy and more productive employees.

Speaker Change: So sky is a unique enterprise employee experience platform their power seamless connections across people places and things and enables a best in class workplace environment.

Speaker Change: People will love.

Khurram Sheikh: It is a true enterprise solution. Designed for millions of users, it provides enterprise-grade security and supports over 100 integrations with corporate systems. These integrations enable large amounts of experiential data and feed Sky's powerful analytics, suggesting new ways to improve employee productivity and engagement. As you can see, the way we've thought about Sky is a shift towards an AI-centric approach to workplace integration. Sky seamlessly integrates customer experience, CX, with artificial intelligence, AI, focused around the employee to deliver solutions and transform the way work happens, making workspaces more intuitive and efficient, leading to happier, more productive employees. As you look at the solution, it starts with this branded, immersive mobile or web app.

Khurram Sheikh: It is a true enterprise solution. Designed for millions of users, it provides enterprise-grade security and supports over 100 integrations with corporate systems. These integrations enable large amounts of experiential data and feed Sky's powerful analytics, suggesting new ways to improve employee productivity and engagement. As you can see, the way we've thought about Sky is a shift toward an AI-centric approach and workplace integration. Sky seamlessly integrates customer experience CX with artificial intelligence AI, focused around the employee to deliver solutions and transform the way work happens, making workspaces more intuitive and efficient, leading to happier, more productive employees. As you look at the solution, it starts with this branded immersive mobile or web app.

Speaker Change: It is true enterprise solution.

Speaker Change: And design millions of users. It provides enterprise grade security and supports over 100 integrations with corporate systems. These integrations enable larger months of experiential data and feed sky's parcel analytics, suggesting new ways to improve employee productivity and engagement as you can see the way we've thought about sky.

Speaker Change: He is a shift towards an AI centric approach and workplace integration tie seemed listing a great customer experience CX with artificial intelligence AI focus around the employee to deliver solutions that transform the way work happens, making workspace is more intuitive and efficient leading to happier and more productive employees.

Khurram Sheikh: More importantly, we have customers that are globally situated, although all our customers are headquartered in North America. We're deployed in around 200 plus cities in 50 countries in all five continents, and we tell you the depth and breadth of our capability and our pen across the globe. Our customers are fortune 1000 customers that have great enterprise capabilities globally. The reason why they choose CX AI or Sky is because we have a great technology platform that built on 37 styles and 17 grand of pants.

Khurram Sheikh: As you look at the solution, it starts with this branded immersive mobile or web app. So think about any of our large customers are using their logos, their content, their look and feel to enable the users to feel like they're at home or they're at their work environment in their work home environment. And similarly, when you look at the analytics and the data, it's all in a trusted environment where we're collecting the data from the users in an enterprise environment and providing trusted advice to both the users as well as the employers and creating an end-to-end architecture that is really multi-cloud.

Speaker Change: A look at the solution that starts with this branded immersive mobile or web app. So think about any of our large customers are using their logos their content their look and feel to enable the users to feel like they're at home or they're at their work environment.

Khurram Sheikh: So think about how any four large customers are using their logos, their content, their look, and feel to enable the users to feel like they're at home or they're in their work environment in their work home environment. And similarly, when you look at the analytics and the data, it's all in a trusted environment where we're collecting the data from the users in an enterprise environment and providing trusted advice to both the users as well as the employers, creating an end-to-end architecture that is really multi-cloud.

Khurram Sheikh: So think about how any four large customers are using their logos, their content, their look and feel to enable the user to feel like they're at home or they're in their work environment in their work home environment. And similarly, when you look at the analytics and the data, it's all in a trusted environment where we're collecting the data from the users in an enterprise environment and providing trusted advice to both the users as well as the employers, creating an end-to-end architecture that is really multi-cloud.

Speaker Change: In the walk home environment and similarly, when you look at the analytics and the data is all in a trusted environment, where we're collecting the data from the users in an enterprise environment and providing trusted advisor to both the users as well as the employer employers and creating an end to end architecture that is really multi cloud.

Khurram Sheikh: And this team of 80 innovators globally is made mostly of engineers, so more than two thirds of the team is engineering, but all our colleagues are great collaborators innovators and design thinkers that are creating the next generation of the future work. So this is where we're super excited to share with you the progress we made, the outcomes we have, and I'm going to start by before I go forward, I'm going to talk a little bit about the market and see what we're, what what's shaping the market, what's happening in the market so you can see.

Speaker Change: So we are right now on all cloud systems supporting all of that and we plan to do that moving forward as the <unk>.

Khurram Sheikh: So we are right now in all cloud systems supporting all of that, and we plan to do that. Moving forward, as we extend our Google Cloud partnership, we are working with other cloud providers. And more importantly, we're also looking at multi-OS and multi-devices because these interactions happen everywhere, not just on a mobile phone; they happen on a laptop, they could happen on a kiosk, they could happen on a watch, they could happen on any digital device you can connect to.

Khurram Sheikh: So we are right now in all cloud systems, supporting all of that. And we plan to do that. Moving forward is extended with our Google Cloud partnership. We are working with other cloud providers. And more importantly, we're also looking at multi-OS and multi-devices because these interactions happen everywhere, not just on the mobile phone. They happen on a laptop, they happen on a kiosk, they happen on a watch, they could happen on any digital device you can connect to. So that's why the sky vision is really tied towards the data and making sure that data is available on all devices, in all capabilities for all our customers globally.

Speaker Change: Extended with our Google Cloud partnership we are working with other cloud providers and more importantly, we're also looking at multi OS multi devices because these interactions happen everywhere not just on a mobile phone to happen on a laptop. They happened on a kiosk you could happen on our watch that could happen in any digital divide you can connect to the desk by desk.

Khurram Sheikh: So that's why Sky Vision is really tied to data and making sure that data is available on all devices and with all capabilities for all our customers globally. So peeling the onion a little bit more, what is underneath this Skype platform?

Khurram Sheikh: So that's why Sky Vision is really tied to data and making sure that data is available on all devices in all capacities for all our customers globally. And so, peeling the onion a little bit more, what is underneath this Skype platform?

Speaker Change: <unk> is really tied towards the data and making sure that data is available on all devices and all capabilities for all our customers globally.

Khurram Sheikh: But first of all, it's very obvious that the world is going to an AI centric world where transformation is happening across all classes of the industry. And we are the company that is changing the transformation or transforming the workplace as we speak. Let me talk about the market. What is happening in the market? What have we seen the market right now? It's obvious that the that work from home was the predominant use case during the pandemic.

So peeling the onion, a little bit more what is underneath this sky platform what are the key technology and capabilities that we've enabled number one where AI native and we were a mobile first and cloud first technology platform now we're focused on centering around the employee first experience, meaning this is all tied to increasing.

Khurram Sheikh: Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech Tech It's a central platform that integrates workplace functionalities and a unified workflow, reflecting sky emphasis on unified mobile force approach to workspix technology. Size platform creates a consistent, personalized workflow specific experience across mobile and web, powered by over 100 integrations with enterprise backend system. It covers the complexities, providing the users with a clean, easy to navigate, context specific UI to complete their task.

Khurram Sheikh: What are the key technologies and capabilities that we've enabled? Number one, we're AI-native, and we are a mobile-first and cloud-first technology platform. Now we're focused on centering it around the employee-first experience, meaning this is all tied to increasing the employee's capability and the employee's ability to be successful. So the first pillar is the Unified Employee Experience, which is a central platform that integrates various workplace functionalities and a unified workflow, reflecting Skype's emphasis on a unified, mobile-first approach to WorkSpace technology.

Khurram Sheikh: What are the key technologies and capabilities that we've enabled? Number one, we're AI native, and we are a mobile-first and cloud-first technology platform. Now we're focused on centering it around the employee-first experience, meaning this is all tied to increasing the employee's capability and ability to be successful. So the first pillar is the unified employee experience, where the central platform that integrates various workplace functionalities and a unified workflow, reflecting Skype's emphasis on a unified, mobile-first approach to Workspace technology.

Khurram Sheikh: And work from home is not stabilizing it around 25% of days, which is around one to two days a week, which is still a fight for jump from 2019 when we had less than less than 5% people working from home. The work from home is staying. It's not going away. It's also becoming more stable, more predictable. Now as you look there, there's also a trend happening in terms of what's happening with the office occupancy.

Speaker Change: Employees capability and an employee's ability to be successful. So the first pillar is the unified employee experience with the central platform that integrates Bruce workplace functionalities and a unified workflow, reflecting sky emphasis on unified mobile force opposed to workspace technology.

Khurram Sheikh: Sly's platform creates a consistent, personalized, workflow-specific experience across mobile and web, powered by over 100 integrations with an enterprise backend system. It addresses the complexities of providing users with a clean, easy-to-navigate, context-specific UI to complete their tasks. The second part of this is Spatial Intelligence.

Speaker Change: <unk> platform creates a consistent personalized workflow specific experience across mobile and web powered by over 100 integrations with enterprise back end system.

Speaker Change: The complexity is providing.

Speaker Change: Their users with a clean easy to navigate context specific UI to complete their task.

Khurram Sheikh: During COVID and post-COVID, there was a rising occupancy in the marketplace. It's flattening out for the last number of years. So last two years is that you flattened around 50% or 2019 levels. This data shows that now we're in a position of stability or at least a new work norm is being implemented.

Khurram Sheikh: The second part of this is spatial intelligence. Facial intelligence is a key part of Sky's technology stack, focusing on optimizing physical spacing and enhancing interactions within the workplace through location-based technologies, providing contextual awareness. The third part of our pillar is really on the experiential analytics. The use of AI to derive insights into employee engagement and work space utilization is a core component of Sky emphasizing the value of data and making decisions as well as measuring productivity. Finally, generate AI in sky boost efficiency productivity by enabling voice and text activated tasks like scheduling meetings with the simple command and features like search and discovery.

Speaker Change: The second part of this is especially intelligence.

Khurram Sheikh: Spatial Intelligence is a key part of Sky's technology stack, focusing on optimizing physical spacing and enhancing interactions within the workspace through location-based technologies, providing contextual awareness. The third part of our pillar is really experiential analytics. The use of AI to derive insights into employee engagement and work space utilization is a core component of SCI, emphasizing the value of data in making decisions as well as measuring productivity. Finally, generative AI.

Khurram Sheikh: Spatial Intelligence is a key part of Sky's technology stack, focusing on optimizing physical spacing and enhancing interactions within the workplace through location-based technologies, providing contextual awareness. The third part of our pillar is really experiential analytics, the use of AI to derive insights into employee engagement and work space utilization. SC&I emphasizes the value of data and making decisions, as well as measuring productivity. Finally, generative AI.

Speaker Change: <unk> is a key part of Sky's technology stack, focusing on optimizing physical spacing and enhancing interactions within the workplace to location based technologies, providing contextual awareness.

Speaker Change: The third part of our pillar is really on the experiential analytics the use of AI to derive insight into employee engagement and work space utilization is a core component of sky, emphasizing the value of data and making decisions as well as measuring productivity.

Khurram Sheikh: This data that I showed you is from courtesy of professor Nick Luma Stanford, who is leading thought later in the space. And as you can see, there's a lot that has changed, but now there's a new norm, which is called hybrid work. So what is hybrid work and why is hybrid work so important? As you can see, 37% of US companies have now embraced a structured hybrid model, which is up from 20% in Q1 or 2023.

Khurram Sheikh: Generative AI in Sky boosts efficiency and productivity by enabling voice and text-activated tasks, like scheduling meetings with a simple command, and features like search and discovery. This streamlines administrative duties, driving efficiency and convenience for employees, as well as personalized knowledge augmentation. Leveraging the most advanced multimodal large-language models, LLMs, we are adding responsible, secure, and reliable GNI capabilities to a retrieval-augmented generation RAD model that uses internal enterprise data to support intelligent planning and user interactions through text, speech, and video.

Khurram Sheikh: Generative AI in Sky boosts efficiency and productivity by enabling voice and text-activated tasks like scheduling meetings with a simple command and features like search and discovery. This streamlines administrative duties, driving efficiency and convenience for employees, as well as personalized knowledge augmentation. Leveraging the most advanced multimodal large-language models, LLMs, we are adding responsible, secure, and reliable GNI capabilities to a retrieval-augmented generation RAG model that uses internal enterprise data to support intelligent planning and user interactions through text, speech, and video.

Speaker Change: Finally, generally where AI generally we are in sky boost efficiency and productivity by enabling voice and text activate a task flex scheduling meetings with a simple commands and features like search and discovery. This streamlines administrative duties driving efficiency and convenience for employees as well as personalization.

Khurram Sheikh: This clean lines administrative duties, driving efficiency and convenience for employees as well as personalization for on demand knowledge augmentation. Levering the leveraging the most advanced multimodal large language models, we are adding responsible secure and reliable genetic abilities toward retrieval augmented generation rag model that uses internal enterprise data to support intelligent planning and using interactions to text speech and video. As you can see, this is a state of VR solution that really enables the most advanced capabilities in the marketplace today. And we're so proud to have this solution not available to most of our customers today and the general AI pieces and data that's coming out soon with customer base as well as new customers.

Khurram Sheikh: If you look carefully at this chart, it's obvious that the world is going toward the structured hybrid model. There are people that are fully flexible. There are companies still doing full time in the office, but the structured hybrid seems to be the most successful and most useful model out there. And managers have shown that have reported that there's an increase in productivity, there's increase in work like balance, and there's reduced burnout employees want to be giving the opportunity to have their flexibility, that flexibility is key to the success of workplace experience.

Speaker Change: <unk> strong demand knowledge augmentation.

Speaker Change: Levering leveraging the most advanced multi modal large language models and we are adding responsible secure and reliable <unk> royalties to a retrieval augmented generation rat model their users in total enterprise data to support intelligent planning and user interactions.

Speaker Change: Through tech speech in video so.

Khurram Sheikh: As you can see, this is a state-of-the-art solution that really enables the most advanced capabilities in the marketplace today. And we're so proud to have this solution now available to most of our customers today, and the generative AI piece is in beta and will be released soon with our customer base as well as new customers. So why do enterprise leaders choose SCAR?

Khurram Sheikh: So, as you can see, this is a state-of-the-art solution that really enables the most advanced capabilities in the marketplace today. And we're so proud to have this solution now available to most of our customers today, and the generative AI piece is in beta and will be released soon with our customer base as well as new customers. So why do enterprise leaders choose SCAR?

Speaker Change: So as you can see this is a standard we our solution that really enables the most advanced capabilities in the marketplace today and we're so proud to have this solution available to most of our customers today and the January pieces and data that's coming out soon.

Khurram Sheikh: As we move forward in this structured hybrid world, what is that entails, that entails all of these large customers, a large fortune 100 and 1000s, they're adopting that more and more, that you can see more than 67% of the companies with 25,000 plus employees are using structured hybrid. And most of our customers are in that same footprint, either 25,000 or in the 5 to 25,000 range. At the same time, this phenomenon, this trend is going to grow over and over across all the segments.

Speaker Change: With our customer base as well as new customers.

Khurram Sheikh: So why do enterprise leaders choose Sky? Why do we have these 20 plus large Fortune 1000 customers? Why do we have these great expansions that we're going to talk about? Well, number one, it's an engaging all-in-one app, is an intuitive user experience with all these seamless integrations and with immersive content. There's no solution out there today that's all in one app in the enterprise space. Definitely return complexity into productivity. We're asked to provide the automated workflows where there's one click, one view, and then one voice command to an action. We're providing enterprise great security and providing that trusted advisory capability.

Speaker Change: So why do enterprise leaders to Sky.

Khurram Sheikh: Why do we have these 20 plus large Fortune 1000 customers? Why do we have these great expansions that we're gonna talk about? Well, number one, it's an engaging all-in-one app. It's an intuitive user experience with all these seamless integrations and with immersive content. There's no solution out there today that's an all-in-one app in the enterprise space.

Speaker Change: Why do we have these 20 plus large fortune 1000 customers why do we have these great expansion that we're going to talk about.

Speaker Change: Well number one it's an engaging all in one app is an intuitive user experience with all these seamless integrations and with immersive content. There is no solution out there today, that's all in one app in the enterprise space.

Khurram Sheikh: So we believe that this is going to be the way of the future and structured hybrid is where the world is going, and there's no going back on this. This is the way industries is performing in terms of how enterprises are expecting workers to come back to the office or work from the home. They're actually working from anywhere and giving the capability and the tools and technologies to allow them to be successful in any environment.

Khurram Sheikh: Secondly, we turn complexity into productivity. We're asked to provide an automated workforce where there's one click, one view, and then one voice command to an app for providing enterprise-grade security and providing that trusted advisor capability so that way, all your complex functions become simplified and easy to use. And last but not least, we're delivering insights both to employees and employers that make their life easier and better. These AI-powered analytics provide predictable outcomes and provide insights that will allow users to become more productive in their environment and for employers to figure out ways to make their workspaces more intelligent and more engaging. So that's a little bit about the market and about what we have been doing from a technology perspective, and from a customer engagement perspective. Now, let's talk about the results.

Khurram Sheikh: Secondly, we turn complexity into productivity. We're after providing automated workflows where there's one click, one view, and then one voice command to an app, providing enterprise-grade security, and providing that trusted advisor capability so that way, all your complex functions become simplified and easy to use. And last but not least, we're delivering insights both to employees and employers that make their life easier and better. These AI-powered analytics provide predictable outcomes and provide insights that will allow users to become more productive in their environment and for employers to figure out ways to make their workspaces more intelligent and more engaging.

Speaker Change: Secondly, we turn complexity into productivity, whereas to providing automated workflows, where there's one click one view and then one voice command to an action.

Speaker Change: Enterprise grade security and providing their trusted adviser capability. So that will all your complex functions become simplified and easy to use and last and most importantly, we're delivering insights both to the employer employers that make their lives easier and better <unk> analytics provide predictable outcomes and provide.

Khurram Sheikh: So that will all your complex functions become simplified and easy to use. And last and most importantly, we're delivering insights both to the employee employers that make their life easier and better. The AI power analytics provide predictable outcomes and provide insights that will allow users to become more productive in their environment and for employers to figure out ways to make their workspace and more intelligent and more engaging.

Khurram Sheikh: When we think about the challenges of hybrid work, this is where the biggest thing that's come out is the hybrid coordination tax. And the hybrid coordination is tied to the fact that as these employees are trying to figure out the new working environment, there's still a lot of things to work out. The challenges to get the most out of the return to office and remain productive at the same time the logistics of actually meeting with people you need to do when some are working in person, other are working virtually.

Speaker Change: Insights that will allow users to become more productive in their environment and for employers to figure out ways to make their workspace and more intelligent and more engaging.

Khurram Sheikh: So that's a little bit about the market and about what we have been doing from a technology perspective, from a customer engagement perspective. Let's talk about the results. I know a lot of you have come here today to learn about what is our results. So that is our largest financial deal in terms of the size of an expansion, and it validates our land and expand strategy. Secondly, our bookings wrote this quarter is ruined by renewals and expansion by five enterprise customers, and these five enterprise customers are across all major verticals. They're not just in financial services; they're in financial services, they're intact, they're in consumer, they're in all the different, and in healthcare, all the different verticals that we have.

Speaker Change: So that's a little bit about the market and about what we have been doing from a technology perspective from a customer engagement perspective, let's talk about the results I know a lot of you have come here today to learn about what is our results, but I want to first give you a little bit of highlights of what happened this quarter. So the biggest announcement for us today is the.

Khurram Sheikh: So that's a little bit about the market and about what we have been doing from a technology perspective, from a customer engagement perspective. Now, let's talk about the results. I know a lot of you have come here today to learn about our results. Well, I want to first give you a little bit of highlights of what happened this quarter, okay?

Khurram Sheikh: I know a lot of you have come here today to learn about what we do. Well, I want to first give you a little bit of highlights on what happened this quarter. So the biggest announcement for us today is that we signed our largest expansion deal ever. This is one of the largest financial services customers in the world. They have global sites all over, and they're growing dramatically with us. They started off with two sites at their headquarters and a second large site, and those pilots have been super successful this last quarter, and they have now decided to sign on for 25-plus sites globally as well as add on more and more capabilities based on the success of those pilots.

Khurram Sheikh: So that is our largest financial deal in terms of the size of an expansion, and it validates our plan and expansion strategy. Secondly, our bookings throughout this quarter are driven by renewals and expansion by five enterprise customers. And these five enterprise customers are across all major verticals.

Khurram Sheikh: It's an effort. It requires coordination. It requires, you know, consultation and all of that can be enabled by technology. No longer phone calls only or emails only. It has to be the ability to coordinate successfully across all digital platforms. That's the power of communication. That's the power of intelligent platform and that's what Sky does and we'll talk about that in a minute. The other part that's important is that the time taken with these coordinations and the setting of these meetings and conferences and others is becoming a bear on people.

Khurram Sheikh: So the biggest announcement for us today is that we have signed our largest expansion deal ever. This is one of the largest financial services customers in the world. They have global sites all over, and they're growing dramatically with us. They started off with two sites at their headquarters and the second large site, and those pilots have been super successful this last quarter, and they have now decided to sign on for 25 plus sites globally as well as add on more and more capabilities based on the success of those pilots.

Speaker Change: We signed our largest expansion ever. This is one of the largest financial services customer in the war, we have global sites all of war and they're growing dramatically with us they started off with two sites.

Speaker Change: Their headquarters and secondly, large site and those pilots have been Super successful this last quarter and they have now decided to sign on for 25, plus sites globally as well as add on more and more capabilities based on the success of those pilots. So that is our largest financial deal in terms of the size.

Khurram Sheikh: It's taking 37% of their time, which in some cases is costing companies tens of thousand dollars per employee. So that's a huge cost issue. More importantly, the return to office mandates have really not worked out for a lot of the employees and the employers. And what we call is a new vernacular called Hush Hybrid where coffee badging and shadow policies are in place. Coffee badging means that you could go to your office, you badge yourself and you put your cup of coffee and you walk out five minutes later because they're only checking you when you check in.

Speaker Change: Often expansion and it validates our land and expand strategy.

Speaker Change: Secondly, we are bookings growth this quarter is driven by renewals and expansion by five enterprise customers and these five enterprise customers are across all major verticals there not just in financial services and financial services. They are intact, there and consumer during all of the different and in health care all the.

Khurram Sheikh: They're not just in financial services; they're in financial services, they're in tech, they're in consumer, they're in all the different verticals that we have. So we're super excited about having those customers renew with us and scale up with us. The third big highlight for this quarter is our multi-year, multi-million dollar agreement with Google.

Khurram Sheikh: They don't know when you're checked out. Well, that's that's happening a lot and there's data out there showing 50% of hybrid workers are coffee badging and then they're having shadow policies where they're talking to the manager to allow them to have flexibility to do things differently or to allow them some flexibility in the timings. All that is good as long as there's awareness, there's transparency, there's a ability to understand what is happening and how to actually manage that.

Speaker Change: The verticals that we have so we are super excited about having those customers renew with us.

Khurram Sheikh: So we're super excited about having those customers renew with us and scale up with us.

Speaker Change: And scale up with us.

Speaker Change: The third big highlight for this quarter is our multiyear multimillion dollar agreement with Google I'm going to talk a lot more about it in detail in the coming slides, but essentially it provides an overarching agreement where we get access to the most latest AI infrastructure products and monitoring for our.

Khurram Sheikh: The third big highlight for this quarter is our multi-year multi-million dollar agreement with Google. I'm going to talk a lot more about in detail in the coming slides. But essentially it provides an overarching agreement where we get access to the most latest AI infrastructure products and monitoring for our sky platform and allows Google and us Google Cloud and us to be driving together in the workplace transformation. This is significant because it shows commitment on both sides on enhancing the capabilities, but also changing the way people work. We believe that Google Cloud is a strategic partner to us, and we're super excited to work with them and to enable new capabilities on our platform.

Khurram Sheikh: I'm going to talk a lot more about it in detail in the coming slides, but essentially, it provides an overarching agreement where we get access to the latest AI infrastructure, products, and monitoring for our Sky platform and allows Google and us, Google Cloud and us, to be driving together in the workplace transformation. This is significant because it shows commitment on both sides to enhancing capabilities but also changing the way people work. We believe that Google Cloud is a strategic partner to us, and we are super excited to work with them and enable new capabilities on our platform.

Khurram Sheikh: But essentially, it provides an overarching agreement where we get access to the latest AI infrastructure, products, and monitoring for our Sky platform and allows Google and us, Google Cloud and us, to be driving the workplace transformation together. This is significant because it shows commitment on both sides to enhancing the capabilities but also changing the way people work. We believe that Google Cloud is a strategic partner to us, and we are super excited to work with them and enable new capabilities on our platform.

Speaker Change: Sky platform allows Google and us Google cloud announced to be driving together in the workplace transformation. This is significant because it shows commitment on both sides on enhancing the capabilities, but also changing the way people work, we believe that Google cloud as a strategic partner to us and we want we have sue.

Khurram Sheikh: So it's important to know this Hush Hybrid is happening across the workplace and we're seeing it with all customers too and we're finding out that these customers need solutions to that. So when you think of the challenges, this this world is gone to the hybrid world, we have to find solutions to that. So coming over to now, what are we doing? Why are we doing this? And why is it an AI centric solution so critical to this?

Speaker Change: We are excited to work with them and to enable new capabilities on our platform.

Khurram Sheikh: On the last call, I had mentioned about the new Sky platform, which is being launched with a brand new customer in the financial services area. That development is going really well, and I'm happy to announce that we are doing a pilot into three here in the coming month, where we're going to launch it with their internal internal pilot customers, meaning that this is a subset of their full employees that are going to be testing this. And the plan is to deploy it in Q4 globally to major sites. So this new platform, as I said earlier, is multi tenor, multi us, multi cloud, allowing you to do many of the interactions I showed earlier in terms of analytics, as well as in terms of the simplest to you of the architecture for a native.

Speaker Change: On the last call I had mentioned about the new Sky platform, which is being launched with a brand new customer in the financial services area.

Khurram Sheikh: On the last call, I mentioned the new Sky platform which is being launched with a brand new customer in the financial services area. Development is going really well, and I'm happy to announce that we are doing a pilot in Q3 here in the coming month where we're going to launch it with their internal pilot customers, meaning that this is a subset of their full employees that are going to be testing this, and the plan is to deploy it in Q4 globally to major sites.

Khurram Sheikh: On the last call, I mentioned the new Sky platform, which is being launched with a brand-new customer in the financial services area. Development is going really well, and I'm happy to announce that we are doing a pilot in Q3 here in the coming month, where we're going to launch it with their internal pilot customers, meaning that this is a subset of their full employees that are going to be testing this, and the plan is to deploy it in Q4 globally to major sites.

Speaker Change: Development is going really well.

Speaker Change: And I'm happy to announce that we are doing a pilot in Q3 here in the coming months, where we're going to launch it with.

Khurram Sheikh: So with CXDI, we have built this for this real purpose and the purpose we built it for is to create transformational employee experience end-to-end. And when we think about the transformation, it's happening all the way from the time the employee starts their day to the time they hang up their forms for the day. So Sky is a unique enterprise employee experience platform that powers seamless connections across people, places, and things, enables a besting class, workplace environment, your people will love.

Speaker Change: Their internal internal pilot customers, meaning that this is a subset of their full employees that are going to be testing is and the plan is to deploy it in Q4 globally. Two major sites. So this new platform as I said earlier is multi tenant multi use multi cloud, allowing you to do many of the.

Khurram Sheikh: So this new platform, as I said earlier, is multi-tenant, multi-OS, multi-cloud, allowing you to do many of the interactions I showed earlier in terms of analytics as well as in terms of the simplicity of the architecture for AI native. And we're the first in the industry to implement this, and we're super excited that this is on track for deployment in Q4.

Khurram Sheikh: So, this new platform, as I said earlier, is multi-tenant, multi-OS, multi-cloud, allowing you to do many of the interactions I showed earlier in terms of analytics, as well as in terms of the simplicity of the architecture for AI native, and we're the first in the industry to implement this, and we're super excited that this is on track for deployment in Q4.

Speaker Change: Interactions I assured earlier in terms of analytics as well as in terms of the simplicity of the architecture for air NATO.

Khurram Sheikh: It is true enterprise solution designed for millions of users. It provides enterprise great security and supports of 100 integrations with core persistence. These integrations enable large amounts of experiential data in feed, skies, powerful analytics, suggesting new ways to improve employee productivity and engagement. As you can see, the way we've thought about Sky is a shift towards an AI centric approach and workplace innovation. Sky seems to integrate customer experience CX with artificial intelligence AI, focus around the employee to deliver solutions and transform the way work happens, making work spaces more intuitive and efficient leading to happy and more productive employees.

Khurram Sheikh: And we're with the first in the industry to implement this, and we're super excited that this is on track for deployment in Q4.

Speaker Change: And where were the first in the industry to implement this and we're Super excited that this is on track for deployment in Q4.

Khurram Sheikh: And last but not least, I think we announced last time was Sky View capability, which is our analytics platform based on AI. I'm happy to report that we've been working with our existing customer base, and we are now in three pilots into three here with diversified customers. One is in consumer, one is in the tech space, and one of financial services. We believe that the worst of these trials is important to see what are the use cases and capabilities that they want. And that we're finding really great insights on those pilots.

Khurram Sheikh: And last but not least, I think we announced last time our SkyView capability, which is our analytics platform based on AI. I'm happy to report that we've been working with our existing customer base, and we are now in three pilots in Q3 here with diversified customers. One is in consumer, one is in the tech space, and one in financial services.

Speaker Change: And last but not least I think we announced last time, our sky view capability, which is our analytics platform based on AI I'm happy to report that we've been working with our existing customer base and we are now in three pilots in Q3 here, we're diversified customers one in consumer one is in the tech space and one in financial services.

Speaker Change: We believe that diversity of these trials is important to see what are the use cases and capabilities that they want.

Khurram Sheikh: We believe that diversity of these trials is important to see what are the use cases and capabilities that they want, and we're finding really great insights in those pilots. I'm going to show you a couple of charts at the end where we talk about what the insights and capabilities SkyView can provide. But this is the future for us. The future is SkyPlatform, and SkyView is going to be the full solution that solves the hybrid work problem that I shared at the start. So let me go further, deeper into the results. So let's talk about the financial numbers. What are those?

Khurram Sheikh: We believe that diversity of these trials is important to see what the use cases and capabilities that they want, and we're finding really great insights in those pilots. I'm going to show you a couple of charts at the end where we talk about what the insights and capabilities SkyView can provide, but this is the future for us. The future is SkyPlatform, and SkyView is going to be the full solution that solves the hybrid work problem that I shared at the start. So let me go further, deeper into the results. So let's talk about the financial numbers. What are those?

Speaker Change: And we're finding really good insights on those.

Speaker Change: Pilots I'm going to show you a couple of charts, Indiana, where we talk about what are the insights and cable and Sky. We can provide but this is the future for the future is sky platform with Sky view is going to be at a full solution.

Khurram Sheikh: I'm going to show you a couple of charts in the end where we talk about what are the insights in Capability Sky we can provide.

Khurram Sheikh: But this is the future for us.

Khurram Sheikh: The future is sky platform with sky view is going to be the whole solution that solves the hybrid problem that I share in the start. So, let me go further deeper into the results.

Speaker Change: All the hybrid work problem that I shared in the start.

Speaker Change: So let me go further deeper into.

Speaker Change: The results.

Khurram Sheikh: Casting the financial numbers, So for Q2 2024, we had 1.91 million bookings, and those bookings are really tied to the expansion deal that I talked about as well as the four other renewals. So that's the total amount of bookings that happened, which is significantly higher than last year, same quarter. This expansion deal is groundbreaking for us because it is the validation of our land expansion strategy. This customer is going from the current ARR to 112% growth, which is massive in terms of size as well as opportunity for us. And, as I said earlier, this is not the end game for them.

Khurram Sheikh: So, let's talk about the financial numbers. What are those highlights, passing the financial numbers? So, for Q2224, we had 1.91 million of bookings, and those bookings are really tied to the expansion deal that I talked about, as well as the four other renewals. So, that's the total amount of bookings that happened, which is significantly higher than last year, same quarter. This expansion deal is groundbreaking for us because it is the validation of what land expands strategy. This customer is going from the current ARR to 112 percent growth, which is massive in terms of the size as well as the opportunity for us.

Speaker Change: So let's talk about the financial numbers, what are those highlights crafting the financial numbers.

Khurram Sheikh: Casting the financial numbers, So for Q2 2024, we had 1.91 million bookings, and those bookings are really tied to the expansion deal that I talked about, as well as the four other renewals. So that's the total amount of bookings that happened, which is significantly higher than last year, same quarter. This expansion deal is groundbreaking for us because it is the validation of our land expand strategy. This customer is going from the current ARR to 112% growth, which is massive in terms of size, as well as the opportunity for us. And, as I said earlier, this is not the end game for them.

Speaker Change: For Q2, 2024, we had $1 91 million of bookings and those bookings.

Speaker Change: Are really tied to the expansion deal that I talked about as well as the Florida renewals, but thats. The total amount of bookings that happen, which is significantly higher than than last Q4 of last year.

Khurram Sheikh: So we are right now in all cloud systems, supporting all of that. And we plan to do that. Moving forward is extended with our Google Cloud partnership. We are working with other cloud providers. And more importantly, we're also looking at multi-OS and multi-devices because these interactions happen everywhere, not just on the mobile phone, they happen on laptop, they happen on a kiosk, they happen on a watch, they could happen on any digital device you can connect to.

Speaker Change: Same quarter. This expansion deal is it.

Speaker Change: As groundbreaking for us because it is the validation of our land expand strategy. This customer is going for from the current era to a 112% growth, which is massive in terms of the size as well as the opportunity for us and as I said earlier this is not.

Khurram Sheikh: So that's why the sky vision is really tied towards the data and making sure that data is available on all devices, in all capabilities for all our customers globally. [inaudible] It's a central platform that integrates workplace functionalities and a unified workflow, reflecting sky emphasis on unified mobile force approach to workspix technology. Size platform creates a consistent personalized workflow specific experience across mobile and web, powered by over 100 integrations with enterprise backend system.

Khurram Sheikh: And it said earlier, this is not the end game for them. They have many more sites and many more capabilities are more enabled. But this is a stepping stone in the right direction, and we're super proud of this achievement this quarter. On the subscription to one-time revenue split, we perform to 85 percent recurring, which is much, much better than what was last year. And this is trending in the right direction, and with the gross margin consistently trending in the 80 percent and north of that, we really had a really great quarter in terms of the metrics trending in the right direction, as well as this large expansion deal.

Speaker Change: The end game for them they have many more sites and many more capabilities and will enable but this is a stepping stone in the right direction and we're super proud of this achievement this quarter.

Khurram Sheikh: They have many more sites and many more capabilities they want to enable. But this is a stepping stone in the right direction, and we're super proud of this achievement this quarter. On the subscription to one-time revenue split, we performed 85% recurring, which is much, much better than what it was last year. And this is trending in the right direction.

Khurram Sheikh: They have many more sites and many more capabilities they want to enable, but this is a stepping stone in the right direction, and we're super proud of this achievement this quarter. On the subscription to one-time revenue split, we performed 85% recurring, which is much, much better than what it was last year. And this is trending in the right direction.

Speaker Change: On the subscription to one time revenues that we are.

Speaker Change: We performed 85% recurring which is a much much better than what it was last year.

Speaker Change: And this is trending in the right direction and with the gross margin consistently turning in the 80% or north of that.

Khurram Sheikh: And with the gross margin consistently trending in the 80% and north of that, we really had a really great quarter in terms of the metrics trending in the right direction, as well as this large expansion. You know, this is the first quarter, first full quarter, where we can compare it to a year ago after the company did the business combination. So from a standalone basis, it's the first time we can compare from what we were, you know, last year at this time of the quarter to now, because before that, we had, you know, been part of another entity; there was a lot of financials that were mixed together. So anyway, the biggest news item I will tell you from last year's financial results is that we have completed a full business transformation. And what do I mean by that?

Speaker Change: Really had a really great quarter in terms of the metrics trending in the right direction as well as this large expansion deal.

Khurram Sheikh: You know, this is the first quarter, a first full quarter where we can compare it to a year ago after the company did the business combination. So, from a standalone basis, this is the first time we can compare from what we were last year at this time of the quarter to now because before that we had being part of another entity; there was a lot of financial that were mixed together. So anyway, the biggest news item I will tell you from last year financial results: we have completed a full business transformation. And what do I mean by that?

Speaker Change: This is the first quarter, our first full quarter, where we can compare to a year ago. After the company ended the business combination. So from a standalone basis is the first time, we can compare from what we were.

Khurram Sheikh: It covers the complexities providing the users with a clean, easy to navigate context specific UI to complete their task. The second part of this is spatial intelligence. Facial intelligence is a key part of sky's technology stack focusing on optimizing physical spacing and enhancing interactions within the workplace through location based technologies, providing contextual awareness. The third part of our pillar is really on the experiential analytics. The use of AI to derive insights into employee engagement and work space utilization is a core component of sky emphasizing the value of data and making decisions as well as measuring productivity.

Speaker Change: Last year at this time of the quarter to now because before that we had been.

Speaker Change: Being part of another entity.

Khurram Sheikh: There were a lot of financials that were mixed together. So anyway, the biggest news item I will tell you from last year's financial results is that we have completed a full business transformation. And what do I mean by that?

Speaker Change: There was a lot of financials that mixed together so anyway. The biggest news item I will tell you from last year financial results. We have completed a full business transformation and what do I mean by that the business transformation is really driving to an AI native SaaS model with continued.

Khurram Sheikh: The business transformation is really driving to an AI-native SaaS model with continued positive trending of key SaaS mechanisms. This quarter saw a massive increase of 78% in renewal and expansion bookings from the same period last year. The company reported its largest expansion deal with a major enterprise customer in the financial sector that is now scaling its footprint globally after the initial pilot. And as I said earlier, this customer's annual revenue growth grew by 120% as a result of this expansion. And the other piece that was important was the one-time subscription revenue that we had from the Co-Expansion Deal.

Khurram Sheikh: The business transformation is really driving to an AI-native SaaS model with continued positive trending of P SaaS metrics. This quarter saw a massive increase of 78 percent in renewing expansion bookings from the same period last year. The company reported its largest expansion deal with a major enterprise customer in the financial sector that is now scaling its footprint globally after the initial pilots. And as I said earlier, this customer's annual revenue growth grew by 100 percent as a result of this expansion. And the other piece that was important is the one-time subscription revenue that we had is from 85 percent this quarter; it was 79 percent a year ago.

Speaker Change: They're trending of key SaaS metrics this quarter saw a massive increase of 78% in renewal and expansion bookings from the same period last year. The company recorded its largest expansion deal with a major enterprise customer in the financial sector does now scaling its footprint globally. After the initial pilots.

Khurram Sheikh: Finally, generate AI in sky boost efficiency productivity by enabling voice and text activated tasks like scheduling meetings with the simple command and features like search and discovery. This clean lines administrative duties, driving efficiency and convenience for employees as well as personalization for on demand knowledge augmentation. Levering the leveraging the most advanced multimodal large language models, we are adding responsible secure and reliable genetic abilities toward retrieval augmented generation rag model that uses internal enterprise data to support intelligent planning and using interactions to text speech and video.

Speaker Change: And as I said earlier this customer's annual recurring revenue growth grew by 100% as a result of this expansion.

And the other piece that was important as the one time subscription revenue that we had.

Khurram Sheikh: And the other piece that was important was the one-time subscription revenue that we had from the co-expansion deal. And last but not least, we're focused on the bottom line or the optics reduction from the time last year was more than 15%.

Speaker Change: Is from 85% this quarter it was 79% a year ago. So that six basis points increased similarly gross margins are quite person quite 0.5 basis points increase from last year.

Khurram Sheikh: So that six basis points increased. Similarly, gross margin is a 5 percent, 5 basis points increased from last year. More importantly, when you combine all of these capabilities and metrics, the net retention rate from last year to now is 105 percent, which is trending really positively, and this is really driven by those five renewals in the record expansion deal. last but not least we're focused on the bottom line or op-ex reduction from the time last year is more than 15% and that has really been a combination of you know restructuring that we did earlier but more importantly we're using AI and AI tools to lower our structure.

Speaker Change: More importantly, when you combine all of these capabilities and these metrics and net retention rates.

Speaker Change: Last year to now is 105%, which is trending really positively and this is really driven by those five renewals and the record expansion deal.

Khurram Sheikh: As you can see, this is a state of VR solution that really enables the most advanced capabilities in the marketplace today. And we're so proud to have this solution not available to most of our customers today and the general AI pieces and data that's coming out soon with customer base as well as new customers. So why do enterprise leaders choose sky? Why do we have these 20 plus large fortune 1000 customers?

Khurram Sheikh: And last but not least, we're focused on the bottom line or the optics reduction from the time last year by more than 15%. And that has really been a combination of, you know, the restructuring that we did earlier, but more importantly, we're using AI and AI tools to lower our cost structure. So that has been a big highlight for the team, as we're a technology organization really focused on, you know, improving our productivity and capability. So, in a nutshell, I can tell you we're much better off than we were a year ago. We're in the right direction in the right areas. We're scaling up really well. I know that when you look at the financial spreadsheet, you will see the one-time revenue that was in the past.

Speaker Change: And last but not least we're focused on the bottom line or opex reduction from the time last year is more than 15% and that has really been a combination of.

Khurram Sheikh: And that has really been a combination of, you know, the restructuring that we did earlier, but more importantly, we're using AI and AI tools to lower our cost structure. So that has been a big highlight for the team, as we're a technology organization really focused on, you know, improving our productivity and capability with AI. So, in a nutshell, I can tell you we're much better off than we were a year ago. We're in the right trending in the right areas. We're scaling up really well. I know that when you look at the financial spreadsheet, you will see the one-time revenue that was in the past.

Speaker Change: Restructuring that we did earlier, but more importantly, we're using AI and AI tools to lower our cost structure. So that has been a big highlight for the team as we are a technology organization really focused on.

Khurram Sheikh: So that has been a big highlight for the team as we're a technology organization really focused on, you know, improving our productivity ability with that.

Speaker Change: Proving our productivity and capability with that.

Khurram Sheikh: So, in a nutshell, I can tell you we're much better off than we were a year ago. We're in the right printing in the right areas, with scaling up really well. I know that when you look at the financial spreadsheet, you would look at the one-time revenue that was in the past. Think of this as a recurring revenue business now that is transformed to a SaaS model, and that is growing dramatically in terms of customer penetration as well as customer engagement to scale up. It's super important that we have our customers really using our products effectively. Actually, the last week I was in New York City visiting with our customers, and it was amazing to see the amount of activity at the customer site.

Speaker Change: So in a nutshell I can tell you we're much better off than we were a year ago. We're in the right trending in the right areas with scaling up really well I know that when you look at the financial spreadsheet you will look at the one time revenue that was in the past think of this as a recurring revenue business now that has transformed.

Khurram Sheikh: Why do we have these great expansions that we're going to talk about? Well, number one, it's an engaging all in one app is an intuitive user experience with all these seamless integrations and with immersive content. There's no solution out there today that's all in one app in the enterprise space. Definitely return complexity into productivity. We're asked to provide the automated workflows where there's one click, one view and then one voice command to an action.

Khurram Sheikh: Think of this as a recurring revenue business now that has transformed into a SaaS model, and that is growing dramatically in terms of customer penetration, as well as customer engagement. It's super important that we have our customers really using our products effectively. Actually, the last week I was in New York City, visiting with our customers, and it was amazing to see the amount of activity at the customer sites.

Khurram Sheikh: Think of this as a recurring revenue business now that has transformed into a SaaS model and that is growing dramatically in terms of customer penetration as well as customer engagement to scale up. It's super important that we have our customers really using our products effectively. Actually, last week, I was in New York City, visiting with our customers.

Speaker Change: To the SaaS model and that is growing dramatically in terms of customer penetration as well as well as customer engagement to scale up it's super important that we have our customers really using our products effectively actually the last week I was in New York City.

Khurram Sheikh: We're providing enterprise great security and providing that trusted advisory capability. So that will all your complex functions become simplified and easy to use. And last and most importantly, we're delivering insights both to the employee employers that make their life easier and better. The AI power analytics provide predictable outcomes and provide insights that will allow users to become more productive in their environment and for employers to figure out ways to make their workspace and more intelligent and more engaging.

Khurram Sheikh: And it was amazing to see the amount of activity at the customer sites. I was at four or five different sites, and I saw different kinds of use cases where people are coming into the office, wanting to use our application to allow them to book a room, book an office, order food, you know, use it for their daily activities from one app, one solution, one action, and we're done. So this is the power of technology.

Speaker Change: We are seeing with our customers and it was amazing to see the amount of activity at the at the customer site I was at four or five different sites and they can see different kinds of use cases, where people are coming into the office wanted to use our application to allow them to book a room booking offers order food.

Khurram Sheikh: I was at four or five different sites, and I can see different kinds of use cases where people are coming into the office, wanting to use our application to allow them to book a room, book an office, order food, you know, use it for their daily activities from one app, one solution, one action, and we're done. So this is the power of the technology, and as I visited different campuses, it's obvious that there are so many different use cases, and we're shaping the way people behave, and we're using technology to enable much, much better outcomes from them.

Khurram Sheikh: I was at four or five different sites, and I can see different kinds of use cases where people are coming in the office wanting to use their application to allow them to book a room, book an office, order food, you know, use it for their daily activities from one app, one solution, one action, and we're done. So this is the power of the technology, and as I was to different campuses, it's obvious that there's so many different use cases, and we're shaping the way people behave, and we're using technology to enable much, much better outcome from them. With the analytics platform, it's right because now, as we showed earlier, people are coming back to the office, and they're not—they want access to the office remotely from their home. So that distributed architecture is important, and this is why they're not only using a mobile app, they're using a web app when they're at home.

Speaker Change: Use it for their daily activities from one one solution one action and we're done. So this is the power of the technology and as I will see a different campuses. It's obvious that there are so many different use cases, and we're shaping the way people behave and we're using technology to <unk>.

Khurram Sheikh: So that's a little bit about the market and about what we have been doing from a technology perspective from a customer engagement perspective. Let's talk about the results. I know a lot of you have come here today to learn about what is our results. So that is our largest financial deal in terms of the size of an expansion and it validates our land and expand strategy. Secondly, our bookings wrote this quarter is ruined by renewals and expansion by five enterprise customers and these five enterprise customers are across all major verticals, they're not just in financial services, they're in financial services, they're intact, they're in consumer, they're in all the different and in healthcare, all the different verticals that we have.

Khurram Sheikh: And as I visited different campuses, it's obvious that there are so many different use cases, and we're shaping the way people behave, and we're using technology to enable much, much better outcomes from them. With the analytics platform, it's right because now, as we showed earlier, people are coming back to the office, and if they're not, they want access to the office remotely from their home. So that distributed architecture is important, and this is why they're not only using a mobile app; they're using a web app when they're at home.

Speaker Change: Table much much better outcome from them with the analytics platform, it's right because now whereas as we showed earlier people are coming back to the office and they're not they want access to the office remotely from their homes. So that the distributed architecture is important and this is why.

Khurram Sheikh: With the analytics platform, it's right because now, as we showed earlier, people are coming back to the office, and if they're not, they want access to the office remotely from their home, so that distributed architecture is important, and this is why they're not only using a mobile app; they're using a web app when they're at home.

Speaker Change: Not only using our mobile app using a web app when they're at home for all of those trends are leading us to.

Khurram Sheikh: So all those trends are leading us to, you know, now we have an engaged set of customers whose users are wanting this capability to enable their workforce productivity, and now we need to provide them with insights and analytics to keep improving that to go higher on the food chain in terms of productivity and engagement for the employees. So now I'm going to talk a little bit about our Google agreement, okay? And you could ask them, you say, well, we did announce a Google partnership last quarter.

Khurram Sheikh: So all those trends are leading us to, you know, now we have an engaged sort of customers or users are wanting this capability to enable their workforce productivity, and now we need to provide them the insights and analytics to keep improving that to go higher in the food chain in terms of productivity and engagement for the employees.

Speaker Change: Now we haven't engaged set of customers or users are wanting this capability to enable their workforce productivity and now we need to provide the insights and analytics to keep improving that to go higher in the food chain in terms of productivity and engagement for the employees.

Khurram Sheikh: So now I'm going to talk a little bit about our Google agreement, right? And you could ask, you say, well, we did announce a Google partnership last quarter. This is a significant step forward from that because this is now a real multi-year, multi-million dollar, you know, agreement where we are reinforcing our commitment to leveraging the cutting edge technology to drive innovation growth. The number one thing that is important is, as we're growing our customer base and we are now extending ourselves from being just a nice to have to a must have. It's super important that we have infrastructure that's reliable, that's scalable, and that allows us to provide that, you know, seamless experience across the board.

Speaker Change: So now I'm going to talk a little bit about our our Google agreement right.

Speaker Change: And you could as you say, where we did announce a Google partnership last quarter.

Khurram Sheikh: This is a significant step forward from that because this is now a real multi-year, multi-million dollar agreement where we are reinforcing our commitment to leveraging cutting-edge technology to drive innovation growth. The number one thing that is important is that as we're growing our customer base, and we are now extending ourselves from being just a nice-to-have to a must-have, it's super important that we have infrastructure that's reliable, that's scalable, and that allows us to provide that, you know, seamless experience across the board.

Speaker Change: This is a significant step for farm that because this is now a real multi year multimillion dollar.

Agreement, where we are reinforcing our commitment to leveraging our cutting edge technology to drive innovation growth.

Khurram Sheikh: So we're super excited about having those customers renew with us and scale up with us. The third big highlight for this quarter is our multi year multi million dollar agreement with Google. I'm going to talk a lot more about in detail in the coming slides. But essentially it provides an overarching agreement where we get access to the most latest AI infrastructure products and monitoring for our sky platform and allows Google and us Google cloud and us to be driving together in the workplace transformation.

Speaker Change: The number one thing that is important is as we're growing our customer base and we are now extending ourselves from being just a nice to have to a must have it's super important that we have infrastructure, that's reliable and scalable and it allows us to provide that.

Speaker Change: Seamless experience across the board. This is why is super important to have Google cloud is a partner, helping us as we scale our customers from hundreds of thousands or millions of users.

Khurram Sheikh: This is why it's super important for us to have Google Cloud as a partner helping us as we scale our customers from hundreds of thousands to millions of users. Secondly, security is a big, big factor with our customers, just because they're large enterprise customers. And given the fact they trust us with their data, they trust us with their employees, it is super important that we provide all the safeguards necessary to manage that data and ensure compliance with industry standards. And as you've seen in the market, there are a lot of challenges with security.

Khurram Sheikh: This is why super important to have Google Cloud as a partner helping us as we scale our customers from hundreds of thousands of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of millions of Secondly, security is a big, big factor in our, with our customers just because they're large enterprise customers and given the fact they trust us with their data, they trust us with their employees, it is super important that we provide all the safeguard industry to manage that data and ensure compliance with industry standards.

Khurram Sheikh: This is significant because it shows commitment on both sides on enhancing the capabilities but also changing the way people work. We believe that Google Cloud is a strategic partner to us and we're super excited to work with them and to enable new capabilities on our platform. On the last call, I had mentioned about the new sky platform, which is being launched with a brand new customer in financial services area. That development is going really well and I'm happy to announce that we are doing a pilot into three here in the coming month where we're going to launch it with their internal internal pilot customers, meaning that this is a subset of their full employees that are going to be testing this.

Speaker Change: Secondly, security is a big big factor.

Speaker Change: Factor in our with our customers just because they are large enterprise customers and given the fact that trust us with their data they trust us with their employees. It is super important that we provide all of the safeguard measures to manage their data and ensure compliance with industry standards and as you've seen in the market. There's been a lot of challenges with.

Khurram Sheikh: And as you've seen in the market, there have been a lot of challenges with security. We're super proud to say that we are really working hard with our customers and with Google Cloud, as well as with Azure and AWS, to allow for a fully secure enterprise. AI is at the heart of the Sky platform, and integration with Google's AI and machine learning tools to accelerate the deployment of our Sky apps is super critical.

Khurram Sheikh: And as you see in the market, there's been a lot of challenges with security. We're super working hard with our customers and with Google Cloud, as well as with Azure and AWS to allow for the fully secured enterprise footprint. AI is at the heart of the Skype platform, and integration with Google's AI and machine learning tools to accelerate the deployment of our Sky Apps is super critical. And you will be seeing in the coming weeks and months some of these announcements as we're doing pilots with Google Cloud, you know, testing the technology. We have access to the latest technology faster than anybody else in the world in the space, and we're going to take advantage of that to drive innovation to our customer base.

Khurram Sheikh: We're super proud to say that we are really working hard with our customers and with Google Cloud, as well as with Azure and AWS, to allow for that fully secure enterprise. AI is at the heart of the Sky platform, and integration with Google's AI and machine learning tools to accelerate the deployment of our Sky apps is super critical. And you will be seeing some of these announcements in the coming weeks and months as we're doing pilots with Google Cloud, you know, testing the technology.

Securely, we're super proud to say that we are really working hard with our customers and with Google cloud as well as with Azure and AWS to allow for the fully secure enterprise footprint.

Speaker Change: AI is at the heart of the Sky platform and integration with Google's, AI and machine learning tools to accelerate the deployment of our sky apps is supercritical.

Khurram Sheikh: And you will be seeing some of these announcements in the coming weeks and months as we're doing pilots with Google Cloud, you know, testing the technology. We have access to the latest technology faster than anybody else in the world in this space, and we're going to take advantage of that to drive innovation for our customers. As I mentioned earlier, some of our customers are using our product not just for a nice to have, it would be good to have an app, but they're actually using it for critical functions, be it ordering food, be it, you know, you know, researching their campus or navigating when they have to get to a meeting right away.

Khurram Sheikh: And the plan is to deploy it in Q4 globally to major sites. So this new platform as I said earlier is multi tenor multi us multi cloud allowing you to do many of the interactions I showed earlier in terms of analytics as well as in terms of the simplest to you of the architecture for a native. And we're with the first in the industry to implement this and we're super excited that this is on track for deployment in Q4.

Speaker Change: And you will be seeing in the coming weeks and months. Some of these announcements that we're doing pilots with Google cloud.

Khurram Sheikh: We have access to the latest technology faster than anybody else in the world in this space, and we're going to take advantage of that to drive innovation for our customers. As I mentioned earlier, some of our customers are using our product not just for a nice to have, it would be good to have an app, but they're actually using it for critical functions, be it ordering food, be it, you know, you know, researching their campus or navigating when they have to get to a meeting right away.

Speaker Change: Testing the technology, we have access to the latest technology faster than anybody else in the world in this space and we're going to take advantage of that to drive innovation to our customer base.

Speaker Change: As I mentioned earlier, so most of our customers are using our product not just for nice to have it would be good to have an app. They are actually using it for critical function be it Walgreens food bird.

Khurram Sheikh: As I mentioned earlier, some of our customers are using our product not just for nice to have, would be good to have an app; they're actually using it for critical function, be it ordering food, be it, you know, you know, researching about their campus or navigating when they have to get to a meeting right away. So becoming a must have requires that we make sure the health of the Skype system is continuously monitoring. And with this agreement, Google is co-investing with us in parting to provide that monitoring capability across the board globally with all our customer sense.

Khurram Sheikh: And last but not least, I think we announced last time was sky view capability, which is our analytics platform based on AI. I'm happy to report that we've been working with our existing customer base and we are now in three pilots into three here with diversified customers. One is in consumer, one is in the tech space and one of financial services. We believe that the worst of these trials is important to see what are the use cases and capabilities that they want.

Khurram Sheikh: And that we're finding really great insights on those pilots. I'm going to show you a couple of charts in the end where we talk about what are the insights in capability sky we can provide. But this is the future for us. The future is sky platform with sky view is going to be the whole solution that solves the hybrid problem that I share in the start. So, let me go further deeper into the results.

Speaker Change: Researching about their campus or navigating when they have to get to a meeting right away. So becoming a must have requires that we make sure. The health of the Sky system is continuously monitoring and with disagreement Google is co investing with us in parking to provide that.

Khurram Sheikh: So becoming a must-have requires that we make sure the health of the Sky system is continuously monitored. And with this agreement, Google is co-investing with us in partnering to provide that monitoring capability across the board globally with all our customer sets. And finally, as we look at infrastructure and the growth of these applications with AI, it's very obvious that the cloud cost infrastructure is super critical. And with this multi-year agreement, we have had significant leverage in our costing with Google in terms of our cost structure as well as our ability to scale faster with AI.

Khurram Sheikh: So, becoming a must-have requires that we make sure the health of the Sky system is continuously monitored. And with this agreement, Google is co-investing with us in partnering to provide that monitoring capability across the board globally with all our customer sets. And finally, as we look at infrastructure and the growth of these applications with AI, it's very obvious that the cloud cost infrastructure is super critical. And with this multi-year agreement, we have had significant leverage in our costing with Google in terms of our cost structure as well as our ability to scale faster with AI.

Speaker Change: I'm monitoring capability across the board globally with all our customers and finally as we look at infrastructure and the growth of these applications, where they are it's very obvious that the cloud cost infrastructure.

Khurram Sheikh: And finally, as we look at infrastructure and the growth of these applications with AI, it's very obvious that the cloud cost infrastructure is super critical, and with this multi-agreement, we have a significant leverage in our costing with Google in terms of our cost structure, as well as our ability to scale faster with AI. So I'm super happy about this agreement, and we are working with other cloud partners, but naturally most of our customers are today on Google Cloud, and we look forward to further advancements with them.

Speaker Change: Is it super critical and with this multi year agreement, we have significant leverage in our costing with Google in terms of our cost structure as well as our ability to scale faster.

Khurram Sheikh: So, let's talk about the financial numbers. What are those highlights, passing the financial numbers? So, for Q2224, we had 1.91 million of bookings and those bookings are really tied to the expansion deal that I talked about as well as the four other renewals. So, that's the total amount of bookings that happened which is significantly higher than last year, same quarter. This expansion deal is groundbreaking for us because it is the validation of what land expands strategy.

Khurram Sheikh: So I'm super happy about this agreement, and we are working with other cloud partners. But naturally, most of our customers are today on Google Cloud, and we look forward to further advancements with that. So, let me talk a little bit about, you know, what we're seeing with SkyView? And I think the way we think about it is the day in the life of... And with SkyView, we're tracing every single interaction that we have with the app, as well as the myriad of integrations that we have integrated into our portfolio.

Khurram Sheikh: So, I'm super happy about this agreement, and we are working with other cloud partners, but naturally, most of our customers are today on Google Cloud, and we look forward to further developments with them. So, let me talk a little bit about what we're seeing with SkyView, and I think the way we think about it is a day in the life of... And with SkyView, we're tracing every single interaction that we have with the app, as well as the myriad of integrations that we have integrated into our portfolio.

Speaker Change: So I'm Super happy about this agreement and we are working with other cloud partners, but naturally most of our customers are today on Google cloud and we look forward to.

Speaker Change: Further advancements with them.

Speaker Change: So let me talk a little bit about you know.

Khurram Sheikh: So let me talk a little bit about, you know, what do we think with Skype view? And I think the way we think about it is, it's in the life of users. And with Skype view, we're creating every single interaction that are having with the app, as well as the myriad of integrations that we have integrated and all portfolio. This allows us to provide really great activity timeline to our employers, as well as provide them all of the data that they need to know what are the top engagements, what are the things that they like doing, what are the things they enjoy, and what are the things they don't like.

Speaker Change: What are we seeing with Sky view and I think the way we think about it is at the end of life of users and with Sky New work tracing every single interaction that we're having with the app as well as the myriad of integrations that we have integrated in our portfolio. This allows us to provide really for Greg.

Khurram Sheikh: This allows us to provide a really great activity timeline to our employers, as well as to provide them with all of the data that they need to know what are the top engagements, what are the things that they like doing, what are the things they enjoy, and what are the things they don't like. And so we kind of see the patterns of what is useful in the work environment. And we also see the session duration. We see that if they could do a booking in two seconds, that's a success. If they were on a podcast for 30 minutes, that's a success.

Khurram Sheikh: This customer is going from the current ARR to 112 percent growth which is massive in terms of the size as well as the opportunity for us. And it said earlier, this is not the end game for them. They have many more sites and many more capabilities are more enabled. But this is a stepping stone in the right direction and we're super proud of this achievement, this quarter. On the subscription to one-time revenue split, we perform to 85 percent recurring which is much, much better than what was last year.

Speaker Change: <unk> activity timeline tour employers as well as provide them all of the data that they need.

Speaker Change: To know what are the top engagement what are the things that they like doing what are the things they enjoy and what are the things they don't like and so we kind of see the behavior of what is useful in the work environment and we also see in this session duration, we see that if they could do of bookings in two seconds that success is there.

Khurram Sheikh: And so we kind of see the behavior of what is useful in the work environment. And we also see the session duration. We see that if they could do a booking in two seconds, that success; if they were on a podcast for 30 minutes, that success. So we look at different kinds of metrics that drive the value at the campuses. And this has been a very enlightening experience for us, learning about our customer base. But more importantly, our customers are super excited because they want access to their data. They want to know what can they do to make their employees more productive.

Speaker Change: We're on a podcast of 30 minutes that success. So we look at different kinds of metrics that drive.

Khurram Sheikh: So we look at different kinds of metrics that drive the value at the campuses. And this has been a very enlightening experience for us, learning about our customer base, but more importantly, our customers are super excited because they want access to the data. They want to know what can they do to make their employees more productive. I'll show you another chart that we talked about spatial intelligence, and one of the key things that we do with our SkyView tool is to really provide that 3D visualization of all the KPIs, the key performance indicators, to think about creating the spatial distribution of activity and spatial utilization metrics, and knowing which rooms are being utilized and when and how, not just giving percentage numbers and metrics, but metrics that really are defined by the space, give you contextual awareness, allow you to make decisions better and faster.

Khurram Sheikh: So we look at different kinds of metrics that drive value at the campuses. And this has been a very enlightening experience for us, learning about our customer base. But more importantly, our customers are super excited because they want access to the data. They want to know what they can do to make their employees more productive. I'll show you another chart that we talked about spatial intelligence, and one of the key things that we do with our SkyView tool is to really provide that 3D visualization of all the KPIs, the key performance indicators.

Khurram Sheikh: And this is trending in the right direction and with the gross margin consistently trending in the 80 percent and north of that, we really had a really great quarter in terms of the metrics trending in the right direction as well as this large expansion deal. You know, this is the first quarter, a first full quarter where we can compare it to a year ago after the company did the business combination. So from a standalone basis, this is the first time we can compare from what we were last year at this time of the quarter to now because before that we had being part of another entity, there was a lot of financial that were mixed together.

Speaker Change: The value at the campuses and this has been a very enlightening experience, whereas learning about our customer base, but more importantly, our customers are super excited because they want access to the data they want to know what can they do to make their employees more productive.

Khurram Sheikh: I'll show you another chart that we talked about spatial intelligence, and one of the key things that we do with our dive view tool is to really provide that 3D visualization of all the KPIs, the key performance indicators. So think about trying to the spatial distribution of activity and spatial utilization metrics and knowing which rooms are being utilized and when and how. Not just giving percentage numbers and metrics, but metrics that really are defined by the space, give you contextual awareness, allow you to make decisions better and faster. A lot of our customers, as they see the office occupancy changing, as they see people coming back to the office, they want to provide an experience work class. They want to be able to provide the same experience they have when they go back to the home office.

Speaker Change: I'll show you. Another chart that we've talked about special intelligence and one of the key things that we do with our <unk> tool is to really provide that <unk> visualization of all the kpis to key performance indicators. So think about crazy the special distribution of activity and special utilization metrics.

Khurram Sheikh: So think about creating the spatial distribution of activity and spatial utilization metrics and knowing which rooms are being utilized and when and how. Not just giving percentage numbers and metrics, but metrics that really are defined by the space, giving you contextual awareness, and allow you to make decisions better and faster.

Speaker Change: Annoying, which rooms are being utilized and when and how not just giving percentage numbers and metrics, but metrics that really are defined by the space give you contextual awareness allow you to make decisions better and faster a lot of our customers as they see the office occupancy changing as they see people coming back to the office.

Khurram Sheikh: So anyway, the biggest news item I will tell you from last year financial results, we have completed a full business transformation. And what do I mean by that? The business transformation is really driving to an AI-native SaaS model with continued positive trending of P SaaS metrics. This quarter saw a massive increase of 78 percent in renewing expansion bookings from the same period last year. The company reported its largest expansion deal with a major enterprise customer in the financial sector that is now scaling its footprint globally after the initial pilots.

Khurram Sheikh: A lot of our customers, as they see the office occupancy changing, as they see people coming back to the office, they want to provide an experience that's world-class, they want to be able to provide the same experience they have when they go back to the home office. Actually, when I was at one of our campuses here in New York, it was interesting to see that some of the new workplace designs are just like the home office, like you have your little small cupboard space that has a plant, has a bookshelf, has the same lighting that you would have in your home office, so we're replicating the home office in the workspace, and those users want, when they're in the office, they want the same environment and they want it for the full day.

Khurram Sheikh: A lot of our customers, as they see office occupancy changing, as they see people coming back to the office, want to provide an experience that's world-class. They want to be able to provide the same experience they have when they go back to their home office. Actually, when I was at one of our campuses here in New York, it was interesting to see that some of the new workplace designs are just like the home office, like you have your little small cabinet space that has a plant, has a bookshelf, and has the same lighting that you would have in your home office.

Speaker Change: To provide an experience that's world class they want to be able to provide the same experience. They have when they go back to the home office actually when I was at one of our campuses here in New York It was interesting to see that.

Khurram Sheikh: Actually, when I was at one of our campuses here in New York, I was interested to see that some of the new workplace designs are just like the home office, like you have your little small cupboard space that has a plant, has a bookshelf, has the same lighting that you would have in your home office. So we're repleting the home office in the workspace, and those users want, when they're in the office, they want the same environment and they want it to the full day. So managing that user experience, providing that spatialization is super critical, and scheduling that, predicting that is even more important.

Speaker Change: Some of the the new workplace designs are just like the home office like you have your little more covered space that has a plan has bookshelves has the same lighting that you would have in your home office. So we're replicating the home office in the workspace and those users want when they when they are.

Khurram Sheikh: And as I said earlier, this customer's annual revenue growth grew by 100 percent as a result of this expansion. And the other piece that was important is the one time subscription revenue that we had is from 85 percent this quarter, it was 79 percent a year ago. So that six basis points increased. Similarly, gross margin is a 5 percent, 5 basis points increased from last year. More importantly, when you combine all of these capabilities and metrics, the net retention rate from last year to now is 105 percent, which is trending really positively and this is really driven by those five renewals in the record expansion deal, last but not least we're focused on the bottom line or op-ex reduction from the time last year is more than 15% and that has really been a combination of you know restructuring that we did earlier but more importantly we're using AI and AI tools to lower our structure.

Khurram Sheikh: So we're replicating the home office in the workspace, and those users want, when they're in the office, they want the same environment, and they want it for the full day. So managing that user experience, providing that space utilization is super critical, and scheduling that, and predicting that is even more important. So with our tool, you can do all of these things, and in the coming weeks and months, as we go from our pilots to deployments, you'll see a lot of value being created for us.

Speaker Change: In the office they want the same environment and they want it for the whole day, so managing that user experience providing their space utilization is supercritical and scheduling that predicting that is even more important so with our tool you can do all of these things and in the coming weeks and months as we go from a pilot to deployment.

Khurram Sheikh: So managing that user experience, providing that space utilization is super critical, and scheduling that, and predicting that is even more important. So with our tool, you can do all of these things, and in the coming weeks and months, as we go from our pilots to deployments, you'll see a lot of value being created for us. So with that, I'm going to take a look at some of the questions that were sent over and make sure that I address some of these questions.

Khurram Sheikh: So, with our tools, you can do all of these things, and in the coming weeks and months, as we go from our pilots to deployment, you're going to see a lot of value being created for our customers.

Speaker Change: You're going to see a lot of value being created for our customers.

Khurram Sheikh: So, with that, I'm going to take a look at some of the questions that were sent over and make sure that I address some of these questions.

Speaker Change: So with that I'm going to.

Khurram Sheikh: So with that, I'm going to take a look at some of the questions that were sent over and make sure that I address some of these questions. I think one of the questions was, "Is the business with Google set for big growth or slow growth?" Well, if we're going to work with Google Cloud, we are set for big growth. Naturally, we're looking to work with them closely on, and we are also working on another initiative that we're going to be announcing soon that will be driving growth on the go-to-market side.

Speaker Change: Take a look at some of the questions that were sent over.

Speaker Change: And make sure that I addressed some of these questions.

Speaker Change: <unk>.

Khurram Sheikh: I think one of the questions was, is the business with Google set for big growth or slow growth? While we're going to work with Google Cloud, we are set for big growth, naturally. We're looking to work with them closely on, and we are also working on another initiative that we're going to be announcing soon that we'll be driving on the go-to-market site. So we are definitely working with them to big growth.

Khurram Sheikh: I think one of the questions was, is the business with Google set for big growth or slow growth? Well, if we're going to work with Google Cloud, we are set for big growth. Naturally, we're looking to work with them closely, and we are also working on another initiative that we're going to be announcing soon that will be driving on the go-to-market side. So we are definitely working with them to grow.

Speaker Change: One of the questions was is the business with Google set for big growth or slow growth.

Speaker Change: Well, if we're going to work with Google Cloud, we are set for growth naturally we're looking to work with them closely.

Speaker Change: We are also working on another initiative.

Khurram Sheikh: So that has been a big highlight for the team as we're a technology organization really focused on you know improving our productivity ability with that. So in a nutshell I can tell you we're much better off than we were a year ago we're in the right printing in the right areas with scaling up really well I know that when you look at the financial spreadsheet you would look at the one-time revenue that was in the past think of this as a recurring revenue business now that is transformed to a SaaS model and that is growing dramatically in terms of customer penetration as well as customer engagement to scale up.

Speaker Change: We're gonna be announcing soon there will be driving on the go to market side. So we are definitely working with them to get growth.

Khurram Sheikh: So we are definitely working with them to grow. Another question that came in was regarding the S1 that was filed on Friday, and I want to make some clarification on that. I just want to be clear that the shares that were announced for selling shareholders were actually a refiling of our initial S1 that was done at the business combination. Because of a delay in our 10K, that S1 went stale, so we had to refile that.

Khurram Sheikh: Another question that came in was regarding the S1 that was filed on Friday, and I want to make some clarification on that. I just want to be clear that the shares that were announced for selling shareholders were actually a refiling of our initial S1 that was done at the business combination. Because of a delay in our 10K, that S1 went stale, so we had to refile that.

Speaker Change: Another question that came in was regarding.

Khurram Sheikh: Another question that came in was regarding the S-1 that was filed on Friday and want to make some clarification on that. I just want to be clear that the shares that were announced were for Sally shareholders were actually a refiling of our initial S-1 that was done at the business combination because of a delay of 10-K, those that S-1 went down. So we had to refile that. So you see that filing, and plus, as you all know, in May, we had done that equity deal. And for that debt deal, there's a potential of conversion to share.

Speaker Change: The S. One that was filed on Friday and want to make some clarification on that I just wanted to be clear that the shares that were announced for selling shareholders, who are actually a re filing of our initial S. One that was done at the business combination because of a delay of our 10-K.

Speaker Change: Goal that echelon Gwent scale. So we had to re file that so you'll see that filing and plus as you. All know in May we had done that equity deal and for that debt deal. There is a potential of conversion to share. So we had signed some shares from potential.

Khurram Sheikh: So you see that filing. And plus, as you all know, in May, we did a debt equity deal. And for that debt deal, there's a potential for conversion to shares. So we had signed some shares for potential conversion. So this is not something that's new. This is already in place before. We just had to refile it because the last S1 went stale.

Khurram Sheikh: So you see that filing. And plus, as you all know, in May, we did a debt equity deal. And for that debt deal, there's a potential for conversion to shares. So we had signed some shares for potential conversion. So this is not something that's new. This was already in place before. We just had to refile it because the last S1 went stale.

Khurram Sheikh: It's super important that we have our customers really using our products effectively actually the last week I was in New York City visiting with our customers and it was amazing to see the amount of activity at the customer site. I was at four or five different sites and I can see different kind of use cases where people are coming in the office wanting to use their application to allow them to book a room book an office order food you know use it for their daily activities from one app one solution one action and we're done.

Khurram Sheikh: So we had assigned some shares to potential conversion. So this is not something that's new. This is already in place before. We just had to refile it because the last S-1 went still.

Speaker Change: Conversion.

Speaker Change: So this is not something thats new this is already in place before we just had to re file it because the loss assortment scale.

Khurram Sheikh: So those are the two main questions. I see another question around, could Skyapp partner with Palantir in the future? I have not talked to Palantir, but I'm happy to engage with them. They could be a potential customer. They're a large enterprise. We are really focused on enterprises right now. We're not in the government sector. If the question was, we'd go towards the government sector, but we're really focused on enterprises, and we believe there's a huge opportunity for scale-up here still. Anyway, I'm going to end with why Sky? You know, why should you look at Sky?

Khurram Sheikh: So those are the two main questions. I see another question around, could SkyApp partner with Palantir in the future? I have not talked to Palantir, but I'm happy to engage with them. They could be a potential customer. They're a large enterprise. We are really focused on enterprises right now. We're not in the government sector. If the question was, we'd go towards the government sector, but we're really focused on enterprises, and we believe there's a huge opportunity for scale-up here still. Anyway, I'm going to end with why Sky? You know, why should you look at Sky?

Speaker Change: So those are the two main questions I see your question around.

Khurram Sheikh: So those are the two main questions.

Khurram Sheikh: I see a question around, could SkyApp partner with Palantin in the future? I have not talked to Palantin here, but I'm happy to engage with them. They could be potential customers. They're a large enterprise. We are really focused on enterprises right now. We're not in the government sector. If the question was, we're going towards the government sector. But we're really focused on enterprises, and we believe there's a huge opportunity for scale up here still.

Speaker Change: Could sky a partner with <unk> in the future I have not talked to pearland here, but im happy to engage with them there could be potential customers, they're large enterprise.

Khurram Sheikh: So this is the power of the technology and as I was to different campuses it's obvious that there's so many different use cases and we're shaping the way people behave and we're using technology to enable much much better outcome from them with the analytics platform it's right because now as we showed earlier people are coming back to the office and they're not they want access to the office remotely from their home so that that distributed architecture is important and this is why they're not only using a mobile app they're using a web app when they're at home. So all those trends are leading us to you know now we have an engaged sort of customers or users are wanting this capability to enable their workforce productivity and now we need to provide them the insights and analytics to keep improving that to go higher in the food chain in terms of productivity and engagement for the employees.

Speaker Change: We are really focused on enterprises right now we're not in the government sector of the question was we're going towards the government sector, but we're really focused on enterprises and we believe there's a huge opportunity for scale up here skills.

Khurram Sheikh: So anyway, I'm going to end with the white guy. You know, why should you look at Sky? What, what is the reason why this company is the right company to scale up in this space? And, you know, when I think about what journey we've been on, it's a journey of transformation; it's a journey of providing probably the most advanced solution in the marketplace. We are shaping the future of work, leading edge technology, defining a new category in enterprise software employee experience. The future of work is one of the biggest issues of our century, and every single enterprise globally is looking to find solutions for the digital workplace and workforce.

Speaker Change: So anyway I'm going to end with a white Guy you know why why should you look at Sky. What is the reason why this company is the right company to scale up in this space.

Khurram Sheikh: What is the reason why this company is the right company to scale up in this space? And, you know, when I think about what journey we've been on, it's a journey of transformation, it's a journey of providing probably the most advanced solution in the marketplace. We are shaping the future of work with leading-edge technology, defining a new category in enterprise software employee experience. The future of work is one of the biggest issues of our century, and every single enterprise globally is looking to find solutions for the digital workplace and workforce. So we are at the cusp of an amazing transformation.

Speaker Change: And you know when I think about what the journey, we've been on a journey of transformation.

Speaker Change: Journey of providing probably the most advanced solution in the marketplace.

Speaker Change: We are shaping the future of work with leading edge technology defining a new category of enterprise software employee experience.

Speaker Change: The future work is one of the biggest issue go a century and every single enterprise globally looking to find solutions for the digital workplace and workforce. So we are we are at the cusp of an amazing.

Khurram Sheikh: So now I'm going to talk a little bit about our Google agreement right and you could ask you say well we did announce a Google partnership last quarter this is a significant step forward from that because this is now a real multi-year multi-million dollar you know agreement where we are reinforcing our commitment to leveraging the cutting edge technology to drive innovation growth. The number one thing that is important is as we're growing our customer base and we are now extending ourselves from being just a nice to have to a must have.

Khurram Sheikh: So we are at the cusp of an amazing transformation. We have great customers that are in all the large verticals, financial services, healthcare, entertainment, consumer, and tech, and we're growing dramatically with deeper penetration into those accounts. And we believe that as these solutions become the norm, every other enterprise in this space will be adopting them. We're diversified globally in 50-plus countries and 200-plus cities. This is not about us hiring salespeople in those countries.

Khurram Sheikh: So we are, we are at the cost of an amazing, amazing transformation. We have great customers that are in, you know, all large verticals: financial services, healthcare, entertainment, consumer, and tech. And we're going dramatically with deeper penetration to those accounts, and we believe that these solutions become the norm. Every other enterprise in the space will be adopting that. We're diversified globally in 50 plus countries and 200 plus cities. This is not about us hiring salespeople in those countries. We're able to steal them up by just getting the accounts in North America. We've told you the power of the technology.

Speaker Change: Amazing transformation.

Khurram Sheikh: We have great customers that are in all the large verticals, financial services, healthcare, entertainment, consumer, and tech. And we're growing dramatically with deeper penetration into those accounts. And we believe that as these solutions become the norm, every other enterprise in this space will be adopting them. We're diversified globally in 50-plus countries and 200-plus cities. This is not about us hiring salespeople in those countries.

Speaker Change: Great customers that are in.

Speaker Change: All large verticals financial services health care Entertainment consumer and Tech.

Speaker Change: And we are growing dramatically with deeper penetration into those accounts and we believe that these solutions become the norm every other enterprise in this space will be adopting that.

Khurram Sheikh: It's super important that we have infrastructure that's reliable that's scalable and that allows us to provide that you know seamless experience across the board. This is why super important to have Google Cloud as a partner helping us as we scale our customers[inaudible] Secondly, security is a big, big factor in our, with our customers just because they're large enterprise customers and given the fact they trust us with their data, they trust us with their employees, it is super important that we provide all the safeguard industry to manage that data and ensure compliance with industry standards.

Speaker Change: We're diversified globally in 50, plus countries and 200 plus cities. This is not about us hiring salespeople in those countries, we're able to scale them up by just getting your accounts in North America. We told you the power of the technology.

Khurram Sheikh: We're able to scale them up by just getting the accounts in North America, which tells you the power of the technology. We have an innovation-driven, experienced management team. We have a great board who are based in Silicon Valley here. And we have great partners now, including Google Cloud and others that we'll announce in the coming months and years that are really helping us scale up. So I'm super excited about the opportunity here. I really believe that we are at the cusp of creating something amazing.

Khurram Sheikh: We're innovation driven, experienced management team. We have a great board who was based in Silicon Valley here, and we have great partners now, including Google Cloud and others that will announce in the coming months and years that are really helping us scale up.

Speaker Change: Where innovation driven experienced management team, we have a great board with.

Speaker Change: Based in Silicon Valley here, and we have good partners now, including Google Cloud and others that we'll announce in the coming months and years that are really helping us scale up.

Khurram Sheikh: So I'm super excited about the opportunity here. I really believe that we are at the cost of creating something amazing, and we're really focused on delivering shareholder value, my executing on our business plans, delivering great experiences to our customers, and going to the sky and beyond.

Speaker Change: I'm Super excited about the opportunity here I really believe that we are at the cusp of creating something amazing and we're really focused on delivering shareholder value by executing on our business plans delivering great experiences to our customers and going to the sky and beyond so thank you everybody.

Khurram Sheikh: And as you see in the market, there's been a lot of challenges with security, we're super working hard with our customers and with Google Cloud, as well as with Azure and AWS to allow for the fully secured enterprise footprint. AI is at the heart of the Skype platform and integration with Google's AI and machine learning tools to accelerate the deployment of our Sky Apps is super critical. And you will be seeing in the coming weeks and months, some of these announcements as we're doing pilots with Google Cloud, you know, testing the technology, we have access to the latest technology faster than anybody else in the world in the space and we're going to take advantage of that to drive innovation to our customer base.

Khurram Sheikh: And we're really focused on delivering shareholder value by executing on our business plans, delivering great experiences to our customers, and going to the sky and beyond. So, thank you everybody for listening to the call. And I look forward to sharing with you the results on the next call and the upcoming annual shareholder meeting, which is August 29th. Hopefully, you all got the proxy for that.

Khurram Sheikh: And we're really focused on delivering shareholder value by executing on our business plans, delivering great experiences to our customers, and going to the sky and beyond. So, thank you, everybody, for listening to the call. And I look forward to sharing with you the results on the next call and the upcoming annual shareholder meeting, which is August 29th. Hopefully, you all got the proxy for that. And we will be in touch soon as we make progress in transforming the workplace. Thank you. Take care.

Operator: And we will be in touch soon as we make progress in transforming the workplace. Thank you. Take care. Thank you. This concludes today's conference, and you may disconnect your lines at this time.

Khurram Sheikh: So thank you, everybody, for listening to the call, and I look forward to sharing with you results on the next call and the upcoming annual shareholder meeting, which is August 29th. Hopefully, you all got the proxy for that. And we will be in touch soon as you make progress in transforming the workplace. Thank you. Take care. Thank you.

Speaker Change: For listening to the call look forward to sharing with you results on the next call and the upcoming <unk>.

Speaker Change: Annual shareholder meeting, which is August 29th hopefully you all got to proxy for that and we will be in touch soon as we make progress in transforming the workplace. Thank you take care.

Speaker Change: And key.

Operator: Thank you. This concludes today's conference, and you may disconnect your lines at this time. We thank you for your participation.

Operator: This concludes today's conference, and you may disconnect your lines at this time. And we thank you for your participation.

Speaker Change: Today's conference and you may disconnect your lines at this time and we thank you for your participation.

Khurram Sheikh: As I mentioned earlier, some of our customers are using our product, not just for nice to have, would be good to have an app, they're actually using it for critical function, be it ordering food, be it, you know, you know, researching about their campus or navigating when they have to get to a meeting right away. So becoming a must have requires that we make sure the health of the Skype system is continuously monitoring.

Khurram Sheikh: And with this agreement, Google is co-investing with us in parting to provide that monitoring capability across the board globally with all our customer sense. And finally, as we look at infrastructure and the growth of these applications with AI, it's very obvious that the cloud cost infrastructure is super critical and with this multi-agreement, we have a significant leverage in our costing with Google in terms of our cost structure, as well as our ability to scale faster with AI.

Khurram Sheikh: So I'm super happy about this agreement and we are working with other cloud partners, but naturally most of our customers are today on Google Cloud and we look forward to further advancements with them. So let me talk a little bit about, you know, what do we think with Skype view? And I think the way we think about it is, it's in the life of users. And with Skype view, we're creating every single interaction that are having with the app, as well as the myriad of integrations that we have integrated and all portfolio.

Khurram Sheikh: This allows us to provide really great activity timeline to our employers, as well as provide them all of the data that they need to know what are the top engagements, what are the things that they like doing, what are the things they enjoy, and what are the things they don't like. And so we kind of see the behavior of what is useful in the work environment. And we also see the session duration.

Khurram Sheikh: We see that if they could do a booking in two seconds, that success, if they were on a podcast for 30 minutes, that success. So we look at different kinds of metrics that drive the value at the campuses. And this has been a very enlightening experience for us, learning about our customer base, but more importantly our customers are super excited because they want access to their data. They want to know what can they do to make their employees more productive.

Khurram Sheikh: I'll show you another chart that we talked about spatial intelligence and one of the key things that we do with our dive view tool is to really provide that 3D visualization of all the KPIs, the key performance indicators. So think about trying to the spatial distribution of activity and spatial utilization metrics and knowing which rooms are being utilized and when and how. Not just giving percentage numbers and metrics, but metrics that really are defined by the space, give you contextual awareness, allow you to make decisions better and faster.

Khurram Sheikh: A lot of our customers as they see the office occupancy changing, as they see people coming back to the office, they want to provide an experience work class, they want to be able to provide the same experience they have when they go back to the home office. Actually, when I was at one of our campuses here in New York, I was interested to see that some of the new workplace designs are just like the home office, like you have your little small cupboard space that has a plant, has a bookshelf, has the same lighting that you would have in your home office.

Khurram Sheikh: So we're repleting the home office in the workspace and those users want when they when they're in the office they want the same environment and they want it to the full day. So managing that user experience, providing that spatialization is super critical and scheduling that, predicting that is even more important. So with our tools, you can do all of these things and in the coming weeks and months, as we go from our pilots to deployment, you're going to see a lot of value being created for our customers.

Khurram Sheikh: We're looking to work with them closely on, and we are also working on another initiative that we're going to be announcing soon that we'll be driving on the go-to-market site. So we are definitely working with them to big growth.

Khurram Sheikh: Another question that came in was regarding the S1 that was filed on Friday and want to make some clarification on that. I just want to be clear that the shares that were announced were for Sally Shareholders were actually a refiling of our initial S1 that was done at the business combination because of a delay of 10k, those that S1 went down. So we had to refile that. So you see that filing and plus, as you all know, in May, we had done that equity deal.

Khurram Sheikh: And for that debt deal, there's a potential of conversion to share. So we had assigned some shares to potential conversion. So this is not something that's new. This is already in place before. We just had to refile it because the last S1 went still.

Khurram Sheikh: So those are the two main questions.

Khurram Sheikh: I see a question around, could SkyApp partner with Palantin in the future? I have not talked to Palantin here, but I'm happy to engage with them. They could be potential customer. They're a large enterprise. We are really focused on enterprises right now. We're not in the government sector. If the question was, we're going towards the government sector. But we're really focused on enterprises and we believe there's a huge opportunity for scale up here still.

Khurram Sheikh: So anyway, I'm going to end with the white guy. You know, why, why should you look at Sky? What, what is the reason why this company is the right company to scale up in this space? And, you know, when I think about what journey we've been on, it's a journey of transformation, it's a journey of providing probably the most advanced solution in the marketplace. We are shaping the future of work, leading edge technology, defining a new category in enterprise software employee experience.

Khurram Sheikh: The future of work is one of the biggest issues of our century, and every single enterprise globally is looking to find solutions for the digital workplace and workforce. So we are, we are at the cost of an amazing, amazing transformation. We have great customers that are in, you know, all large verticals, financial services, healthcare, entertainment, consumer, and tech. And we're going dramatically with deeper penetration to those accounts, and we believe that these solutions become the norm. Every other enterprise in the space will be adopting that.

Khurram Sheikh: We're diversified globally in 50 plus countries and 200 plus cities. This is not about us hiring salespeople in those countries. We're able to steal them up by just getting the accounts in North America. We've told you the power of the technology. We're innovation driven, experienced management team. We have a great board who was based in Silicon Valley here, and we have great partners now, including Google Cloud and others that will announce in the coming months and years that are really helping us scale up.

Khurram Sheikh: So thank you everybody for listening to the call, and I look forward to sharing with you results on the next call and the upcoming annual shareholder meeting, which is August 29th. Hopefully you all got the proxy for that. And we will be in touch soon as you make progress in transforming the workplace.

Khurram Sheikh: Thank you. Take care. Thank you.

Operator: This concludes today's conference, and you may disconnect your lines at this time. And we thank you for your participation.

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