Backblaze Inc (BLZE) 2023 Q4 法說會逐字稿

Good day and welcome to the pack blazers fourth quarter and fiscal year 2023 earnings call. All participants will be in listen-only mode. (Operator Instructions) After today's presentation, there will be an opportunity to ask questions. (Operator Instructions) Please note this event is being recorded. I would now like to turn the conference over to [Mimi Kahn], Investor Relations and Corporate Development. Please go ahead.

美好的一天，歡迎參加 Pack Blazers 第四季和 2023 財年財報電話會議。所有參與者將處於僅聽模式。（操作員說明）今天的演示結束後，將有機會提問。（操作員說明）請注意此事件正在被記錄。我現在想將會議交給投資者關係和企業發展部門的 [Mimi Kahn]。請繼續。

Thank you. Good afternoon, and welcome to back Lisa's Fourth Quarter and Fiscal Year 2023 earnings call. On the call with me today are Gleb Budman, Co-Founder, CEO and Chairperson of the Board; and Frank Patchel, Chief Financial Officer. Today, Budman will discuss the financial results that were distributed earlier this afternoon. Statements on this call include forward-looking statements about our future financial results, use of our IPO proceeds, results from new features and offerings and the impact of price changes, partnerships and sales and marketing initiatives our ability to compete effectively and manage our growth and our strategy to acquire new customers and retain and expand our business with existing customers.

謝謝。下午好，歡迎參加 Lisa 的第四季和 2023 財年財報電話會議。今天與我通話的有共同創辦人、執行長兼董事會主席 Gleb Budman；和首席財務官弗蘭克帕切爾。今天，巴德曼將討論今天下午早些時候發布的財務業績。本次電話會議的聲明包括有關我們未來財務業績、首次公開募股收益的用途、新功能和產品的結果以及價格變化、合作夥伴關係以及銷售和行銷計劃的影響的前瞻性陳述，我們有效競爭和管理成長的能力，以及我們的策略是獲取新客戶並保留和擴大與現有客戶的業務。

These statements are subject to risks and uncertainties that could cause actual results to differ materially, including those described in our risk factors that are included in our annual report on Form 10 K and our other financial filings you should not rely on our forward-looking statements as predictions of future events. All forward looking statements that we make on this call are based on assumptions and beliefs as of today, and we undertake no obligation to update them, except as required by law.

這些陳述存在風險和不確定性，可能導致實際結果出現重大差異，包括我們的10 K 表格年度報告和其他財務文件中包含的風險因素中描述的風險和不確定性，您不應依賴我們的前瞻性陳述作為對未來事件的預測。我們在本次電話會議中所做的所有前瞻性陳述均基於截至目前的假設和信念，我們不承擔更新這些陳述的義務，除非法律要求。

Our discussion today will include non-GAAP financial measures. These non-GAAP measures should be considered in addition to and not as a substitute for our GAAP results. Reconciliation of GAAP to non-GAAP results may be found in our earnings release, which was furnished with our Form eight K filed today with the SEC. You can also find a slide presentation related to our comments in the webcast, which will also be posted to our Investor Relations page after the call. Please also see our press release or presentation for definitions of additional metrics such as our gross customer retention rate number of customers and RPU.

我們今天的討論將包括非公認會計準則財務指標。這些非公認會計原則措施應作為我們公認會計原則結果的補充而不是替代。GAAP 與非 GAAP 業績的調整可以在我們今天向 SEC 提交的 8 K 表格中提供的收益報告中找到。您還可以在網路廣播中找到與我們的評論相關的幻燈片演示，該演示也將在電話會議後發佈到我們的投資者關係頁面。另請參閱我們的新聞稿或簡報，以了解其他指標的定義，例如我們的客戶總保留率和 RPU。

Before I turn the call over to Glenn, I'd also like to mention that in the latter portion of our call, as in prior calls, we will be addressing questions from investors that we gather through the, say technologies platform. Thank you for joining us, and I would now like to turn the call over to Glenn.

在我將電話轉交給格倫之前，我還想提一下，在電話的後半部分，與之前的電話一樣，我們將解決透過技術平台等方式收集的投資者提出的問題。感謝您加入我們，我現在想將電話轉給格倫。

Thanks, Mimi, and thank you, everyone, for joining us today. We are very pleased with our Q4 results we delivered new products features and accelerated revenue growth with BE2 cloud storage, having particularly strong growth of 47% year over year. We also demonstrated continued financial strength as we reached adjusted EBITDA profitability for the first time as a public company and dramatically reduced cash usage. In addition, we are reiterating our forecast to exit this year with at least $20 million of cash on hand, I want to take a moment to highlight some key results.

謝謝咪咪，謝謝大家今天加入我們。我們對第四季度的業績非常滿意，我們透過 BE2 雲端儲存提供了新產品功能並加速了營收成長，年成長特別強勁，達到 47%。我們也展現了持續的財務實力，作為一家上市公司，我們首次實現了調整後的 EBITDA 獲利能力，並大幅減少了現金使用。此外，我們重申今年退出時手頭上至少有 2000 萬美元現金的預測，我想花點時間強調一些關鍵結果。

First, we delivered significant innovation. Second, we've continued to move up in the mid-market. Finally, we've accomplished that while dramatically improving our financial position. We've accelerated our overall growth rate to 25% in Q4, while at the same time improving our profitability and cash usage we achieved adjusted EBITDA of 6%, beating the high end of our prior guidance of 3%. And we used just $2.4 million of cash, which is about $6 million less than we used in the prior quarter.

首先，我們實現了重大創新。其次，我們繼續向中端市場邁進。最後，我們實現了這一目標，同時顯著改善了我們的財務狀況。我們在第四季度將整體成長率加快至 25%，同時提高了我們的獲利能力和現金使用率，調整後 EBITDA 達到了 6%，超過了我們先前 3% 指導值的上限。我們只使用了 240 萬美元現金，比上一季減少了約 600 萬美元。

These three achievements provide a strong foundation for the year ahead, positioning us to take advantage of the shift we're seeing in the market. I want to take a moment talk about that. We're seeing larger businesses come to us because they want to build using the cloud provider that best suit their needs instead of being forced to stay in the traditional closed cloud platforms for some of these businesses, it's about unique functionality.

這三項成就為來年奠定了堅實的基礎，使我們能夠充分利用市場的轉變。我想花點時間談談這件事。我們看到較大的企業來找我們，因為他們希望使用最適合其需求的雲端供應商進行構建，而不是被迫留在其中一些企業的傳統封閉雲平台上，這是關於獨特的功能。

They're able to optimize with specialized solutions fitted to their use case for others is financial. They can achieve massive savings by migrating away from expensive and complex traditional cloud providers. And for some it's about trust that providers won't compete with them indirectly. These are some of the reasons companies are increasingly wanting to use best-of-breed providers in an open cloud ecosystem, together with other cloud companies were well positioned to help drive that open cloud ecosystem, which is defined by interoperability, best of breed functionality, affordability and the free movement of data.

他們能夠使用適合其用例的專門解決方案來優化其他人的財務用例。他們可以透過放棄昂貴且複雜的傳統雲端供應商來實現大量節省。對某些人來說，這關係到提供者不會與他們進行間接競爭的信任。這些是公司越來越希望在開放雲生態系統中使用同類最佳供應商的部分原因，以及其他雲端公司能夠很好地幫助推動開放雲生態系統，該生態系統是由互通性、同類最佳功能定義的、負擔能力和數據的自由流動。

I want to share a great customer story that highlights the value companies are seeing with this open cloud approach. The customer is a media streaming service with over $22 million global users. Their previous solution was built on top of AWS, which was constraining their growth due to technical limitations and excessive download fees. Download fees, which are referred to as egress fees in our industry are one of the restraints that traditional cloud providers used to keep customers from leaving their platforms.

我想分享一個精彩的客戶故事，強調公司透過這種開放雲端方法所看到的價值。該客戶是一家擁有超過 2,200 萬美元全球用戶的媒體串流服務公司。他們先前的解決方案是建立在 AWS 之上的，由於技術限制和過高的下載費用，這限制了他們的成長。下載費用（在我們的行業中被稱為出口費）是傳統雲端供應商用來阻止客戶離開其平台的限制之一。

Our commitment to free egress, our scalable and performance storage platform and our easy integration with CDN partners convinced this customer to switch to backwards be too. By switching to backlogs, this customer was able to develop and deliver features to their end customers that the previous platform couldn't support even more impressively with backplanes, they were able to save over $800,000 on egress a year. That's $800,000 each year that they can invest back into their business, grow their customer base and in turn, grow the data stored with backplanes.

我們對自由出口的承諾、我們的可擴展和高效能儲存平台以及我們與 CDN 合作夥伴的輕鬆整合說服了該客戶也轉向向後。透過切換到積壓，該客戶能夠開發並向最終客戶提供以前的平台無法透過背板支援的功能，效果更令人印象深刻，他們每年能夠在出口方面節省超過 80 萬美元。也就是說，他們每年可以投資 80 萬美元回業務、擴大客戶群，進而增加背板儲存的資料。

Turning to innovation, we are focused on providing the performance and functionality businesses need to move away from legacy solutions for over 16 years, the Barclays team has excelled at innovating on cloud storage by finding greater performance and greater efficiency in hardware and software. In Q4, we launched shard Stash for backwards B. two which enables upload speeds up to 30% faster than Amazon S3. Also in Q4, we introduced free egress up to three times the amount of data stored for every B. two cloud storage customer, furthering our commitment to the Open Cloud.

談到創新，16 年來，我們專注於提供企業擺脫傳統解決方案所需的效能和功能，巴克萊團隊在雲端儲存創新方面表現出色，在硬體和軟體方面尋求更高的效能和更高的效率。在第四季度，我們推出了用於向後 B.2 的分片 Stash，其上傳速度比 Amazon S3 快 30%。同樣在第四季度，我們為每個 B.2 雲端儲存客戶推出了高達三倍儲存資料量的免費出口，進一步履行了我們對開放雲端的承諾。

We are the only cloud storage provider of scale that is offering this to customers without hidden fees or garages. We believe BackWeb is uniquely positioned to be the de facto storage platform at the center of the open cloud ecosystem as we support customers to use their data where and how they choose We also recently launched computer backup enterprise control. This is a feature set that gives businesses greater administrative tools for an additional $2 per computer per month with enterprise control IT admins have the ability to meet their compliance requirements and easily manage backups for hundreds or thousands of computers.

我們是唯一一家向客戶提供無隱藏費用或車庫的規模雲端儲存供應商。我們相信 BackWeb 具有獨特的定位，成為開放雲端生態系統中心事實上的儲存平台，因為我們支援客戶在他們選擇的地點和方式使用他們的資料。我們最近也推出了電腦備份企業控制。該功能集為企業提供了更強大的管理工具，每台計算機每月額外支付2 美元，並具有企業控制功能。IT 管理員能夠滿足其合規性要求，並輕鬆管理數百或數千台計算機的備份。

We're only a few weeks into availability, but we're encouraged by the early feedback we've received from customers. I'm really proud of what our team has done, but have even more excited for what's next. Our team continually improves the performance of our platform and enhances our products to serve new use cases. For instance, while a number of AI companies are already succeeding with us and we're integrated with leading GPU compute providers, our team isn't resting on that success.

我們推出僅幾週時間，但從客戶那裡收到的早期回饋讓我們深受鼓舞。我對我們團隊所做的事情感到非常自豪，但對接下來的事情更加興奮。我們的團隊不斷提高平台的效能並增強我們的產品以服務新的用例。例如，雖然許多人工智慧公司已經與我們一起取得了成功，並且我們與領先的 GPU 運算提供者集成，但我們的團隊並沒有滿足於這一成功。

We continue to innovate on our storage architecture to better serve the increased demand and evolving workflows of AI related storage. We are also excited about the addition of David now as our new Chief Product Officer. David is the former CTO of Metallica at Humboldt and brings over 25 years of experience in the data storage and protection industry. David is coming aboard to help lead the team to bring even greater innovation and strategic leadership for our customers and partners. So we've delivered significant innovation and set ourselves up for more. Next, I'd like to talk about moving upmarket.

我們持續對儲存架構進行創新，以更好地滿足人工智慧相關儲存不斷增長的需求和不斷發展的工作流程。我們也很高興大衛現在擔任我們新的首席產品長。David 是 Humboldt 的 Metallica 前首席技術官，在資料儲存和保護行業擁有超過 25 年的經驗。David 即將加入，幫助領導團隊為我們的客戶和合作夥伴帶來更大的創新和策略領導力。因此，我們已經提供了重大創新，並為更多創新做好了準備。接下來，我想談談向高端市場邁進。

First, we continue to build our channel program. Working with our channel partners helps to both increase our velocity on smaller deals and to identify and close larger deals. A great example of the latter is a $100,000 plus deal that we closed in Q4. One of our channel partners identified an NFL team that was looking to update their approach to data storage. As many of you probably watched the Super Bowl last weekend, you can imagine the incredible amount of video and other data generated during professional football games. Working together with our channel partner. We helped this customer simplify and improve the way they work with all of that data.

首先，我們繼續建立我們的通路計劃。與我們的通路合作夥伴合作有助於提高小額交易的速度以及識別和完成較大額交易。後者的一個很好的例子是我們在第四季度完成的一筆 10 萬美元以上的交易。我們的一位通路合作夥伴發現一支 NFL 團隊正在尋求更新其資料儲存方法。由於上週末你們中的許多人可能觀看了超級盃比賽，因此你們可以想像職業橄欖球比賽期間產生的令人難以置信的大量影片和其他數據。與我們的通路合作夥伴合作。我們幫助該客戶簡化並改進了他們處理所有數據的方式。

Second, on the partnership front, we just launched our new powered by Barclays program, powered by lets businesses add BE two cloud storage to their product offerings without any of the hassle or complexity of managing cloud storage infrastructure. For example, early powered by customers include an edge compute platform provider and a transcoding cloud service provider. I'm excited for these types of partnerships because they help businesses expand their offerings, make it easy for their customers to get access to best-of-breed cloud storage and provide backlogs with access to new distribution channels and customers.

其次，在合作夥伴方面，我們剛剛推出了由巴克萊銀行提供支援的新計劃，該計劃允許企業將BE兩個雲端儲存添加到其產品中，而無需管理雲端儲存基礎設施的任何麻煩或複雜性。例如，早期支援的客戶包括邊緣運算平台供應商和轉碼雲端服務供應商。我對這些類型的合作夥伴關係感到很興奮，因為它們可以幫助企業擴展其產品，使客戶能夠輕鬆存取同類最佳的雲端存儲，並為積壓的訂單提供接觸新分銷管道和客戶的機會。

Finally, as I've discussed, we have been successfully winning deals with larger customers, and we are delivering the features and the performance larger customers are looking for as the company takes the next step toward winning these customers at scale, we're updating our sales approach accordingly, including growing headcount and adding new sales commission program. We will also be hiring a new SVP of Sales, Nilay Patel our current VP of Sales helps build the go-to-market for BE two cloud storage from the ground up and lead the efforts to open up the use cases.

最後，正如我所討論的，我們已經成功贏得了與大客戶的交易，並且隨著公司採取下一步措施以大規模贏得這些客戶，我們正在提供大客戶所尋求的功能和性能，我們正在更新我們相應的銷售方法，包括增加員工人數和增加新的銷售佣金計劃。我們還將聘請新的銷售高級副總裁，現任銷售副總裁 Nilay Patel 協助從頭開始建立 BE 2 雲端儲存的市場，並領導開放用例的工作。

We currently serve nearly and I agreed that now is the right time to pass the baton as the Company charges its path beyond $100 million, an executive search is underway during which Nilay will continue to lead the sales organization to ensure a smooth transition. Once the new head of sales is onboard, Neely will turn his focus to our AI initiatives. We are aimed to help support customers in managing the explosive growth of AI data and its use cases. I'm very proud of what we've accomplished in 2023 by continuing to innovate, moving upmarket and enhancing our go-to-market approach backwards is in a great position to help our customers reap the full benefits of the Open Cloud.

我們目前的服務已接近尾聲，我同意現在是傳遞接力棒的最佳時機，因為公司的收費已超過 1 億美元，高管搜尋工作正在進行中，Nilay 將繼續領導銷售組織，以確保平穩過渡。一旦新的銷售主管上任，尼利將把重點轉向我們的人工智慧計畫。我們的目標是幫助支援客戶管理人工智慧資料及其用例的爆炸性成長。我對我們在 2023 年所取得的成就感到非常自豪，我們透過繼續創新、向高端市場進軍以及向後增強我們的進入市場方法，能夠幫助我們的客戶充分享受開放雲的優勢。

At the same time, we have dramatically improved our financial position as we accelerated revenue growth, achieved adjusted EBITDA profitability for the first time as a public company and dramatically reduced cash usage. I'll pass the call to Frank now to review our financial results.

同時，我們加快了收入成長，首次實現了作為上市公司的調整後 EBITDA 盈利能力，並大幅減少了現金使用，從而顯著改善了我們的財務狀況。我現在將電話轉給弗蘭克，以審查我們的財務表現。

Thank you, Glen, and thanks, everyone, for joining us today. Turning to our fourth quarter financial results, unless otherwise noted, I will be referring to non-GAAP metrics and the growth rates mentioned are year on year. We remain focused on two key metrics, revenue growth and adjusted EBITDA, which is defined in our earnings release. Our Q4 revenue totaled $28.7 million, an increase of 25% year over year B to cloud storage revenue was $14 million, reflecting 47% growth in computer backup revenue totaled $14.7 million, reflecting 10% growth.

謝謝格倫，也謝謝大家今天加入我們。談到我們第四季的財務業績，除非另有說明，否則我將指的是非公認會計原則指標，並且提到的成長率是年成長率。我們仍然關注兩個關鍵指標：收入成長和調整後的 EBITDA，這在我們的收益報告中進行了定義。我們第四季的營收總計 2,870 萬美元，年增 25%。B 雲端儲存收入為 1,400 萬美元，成長 47%；電腦備份收入總計 1,470 萬美元，成長 10%。

Quarter four represents the introduction of our pricing changes. The exact impact of the Q4 price increase cannot be determined for a number of reasons, including changes we made to the product offerings. However, we believe without the price increase, organic growth for both BE two cloud storage and computer backup would have been similar to quarter three as a result of the price adjustment is common to see an increase in customer churn.

第四季是我們引入定價變化的時期。由於多種原因（包括我們對產品供應所做的更改），無法確定第四季度價格上漲的確切影響。然而，我們認為，如果沒有價格上漲，BE 2 雲端儲存和電腦備份的自然成長將與第三季相似，因為價格調整通常會導致客戶流失增加。

However, we did not see any incremental customer churn in quarter three at announcement or in quarter four at implementation. This is illustrated by our continued strong gross customer retention rate of 91% for the total company. We did see some incremental data and license reductions likely due to the price increase which was expected. We believe our consistent and strong customer retention rate speaks to the value of our services and how offering these popular features of three times free egress and extended version history further differentiates us from our competition.

然而，我們在宣佈時的第三季或實施時的第四季沒有看到任何增量的客戶流失。我們整個公司的總客戶保留率持續保持在 91%，這說明了這一點。我們確實看到了一些增量數據和許可證的減少，這可能是由於預期的價格上漲所致。我們相信，我們一致且強大的客戶保留率說明了我們服務的價值，以及提供三倍免費出口和擴展版本歷史記錄等流行功能如何進一步使我們在競爭中脫穎而出。

Turning to our net revenue retention or and our total Company NRR was 109% with BE two cloud storage at 122% and computer backup at 100%, which have all improved over the prior quarter. Working down the P&L. Adjusted gross margin increased about 300 basis points sequentially to 77%, which was primarily due to the price increase across our products and to a lesser extent the higher utilization of prior data center expansions this quarter, adjusted EBITDA was a positive $1.6 million or 6% of revenue and beat the high end of our prior guidance of 3%.

談到我們的淨收入保留率或我們的總公司 NRR 為 109%，其中 BE 兩個雲端儲存為 122%，電腦備份為 100%，這些都比上一季有所改善。制定損益表。調整後毛利率季增約300 個基點，達到77%，這主要是由於我們產品的價格上漲，以及較小程度上本季之前資料中心擴建利用率的提高，調整後EBITDA 為正160 萬美元或6%收入並超過了我們之前指導的 3% 的上限。

This favorably compares to a loss of $2.5 million or negative 11% in quarter four of 2022. And as Glenn mentioned, this is the first time we have reached adjusted EBITDA profitability as a public company. This was the result of us significantly growing revenue with a limited increase in operating expenses. The Beat itself benefited from higher revenue due to lower than expected churn and headcount related savings.

相較之下，2022 年第四季虧損 250 萬美元，即負 11%。正如格倫所提到的，這是我們作為上市公司第一次達到調整後的 EBITDA 獲利能力。這是我們收入大幅成長而營運費用成長有限的結果。由於客戶流失率和員工人數相關節省低於預期，The Beat 本身也受益於更高的收入。

Turning to the balance sheet, cash and short-term investments, including restricted cash, totaled $33.4 million at the end of Q4 2023 versus $35.8 million at the end of Q3 2023. Our cash usage for the quarter came in at $2.4 million, which represents a significant reduction of over 70% from $9 million of usage in quarter three.

就資產負債表而言，截至 2023 年第四季末，現金和短期投資（包括限制性現金）總額為 3,340 萬美元，而 2023 年第三季末為 3,580 萬美元。我們本季的現金使用量為 240 萬美元，比第三季的 900 萬美元使用量大幅減少了 70% 以上。

Moving on to our guidance for the first quarter, we expect revenue to be in the range of 29.6 to $30 million. We expect Q1 adjusted EBITDA margin between 4% and 6%, reflecting continued strong performance in a quarter, which is typically a high quarter for expenses due to payroll taxes and other compensation related expenses. For the full year 2024 revenue guidance is one 26 to $128 million with the midpoint, reflecting 25% year over year growth.

繼續我們第一季的指導，我們預計收入將在 2960 至 3000 萬美元之間。我們預計第一季調整後 EBITDA 利潤率在 4% 至 6% 之間，反映出該季度業績持續強勁，該季度通常是工資稅和其他薪酬相關費用導致費用較高的季度。2024 年全年營收指引為 26 至 1.28 億美元（中位數），年增 25%。

The full year adjusted EBITDA guidance range is 8% to 10%. Because of our confidence in this guidance, we have narrowed the range for revenue and adjusted EBITDA for year end 2024, we project having at least $20 million in cash. This cash forecast includes principal lease payments on capital leases of about 15% of revenue. We also anticipate about $2.4 million in ESPP. proceeds and an additional amount from employees exercising stock options. For reference, we received $1.3 million from stock option proceeds in Q4. Looking beyond 2024, we continue to forecast cash flow breakeven by mid 2025. I will now pass the call back to Gleb.

全年調整後 EBITDA 指引範圍為 8% 至 10%。由於我們對此指引充滿信心，我們縮小了收入範圍，並調整了 2024 年底的 EBITDA，我們預計至少擁有 2000 萬美元的現金。這項現金預測包括約佔收入 15% 的資本租賃本金租賃付款。我們也預期 ESPP 的投資額約為 240 萬美元。收益和員工行使股票選擇權的額外金額。作為參考，我們在第四季度從股票選擇權收益中收到了 130 萬美元。展望 2024 年後，我們持續預測到 2025 年中期現金流將達到損益兩平。我現在會把電話轉回格萊布。

Thanks, Frank. In summary, the team has done an excellent job delivering product innovation driving revenue growth and achieving adjusted EBITDA profitability. We are uniquely positioned to capture the massive market opportunity ahead and execute on our mission to help customers leverage the open cloud ecosystem Operator, we're now ready to take questions on our call.

謝謝，弗蘭克。總而言之，該團隊在產品創新方面表現出色，推動了收入成長並實現了調整後的 EBITDA 獲利能力。我們處於獨特的位置，可以抓住未來的巨大市場機會，並履行我們的使命，幫助客戶利用開放雲生態系統運營商，我們現在準備好在電話中回答問題。

(Operator Instructions) Chad Bennett, Craig-Hallum.

（操作員說明）Chad Bennett，Craig-Hallum。

Hello. Thanks for taking my questions, Tom, great job on the quarter. I mean the EBITDA number was phenomenally good to see that leverage playing out.

你好。感謝您回答我的問題，湯姆，本季做得很好。我的意思是 EBITDA 數字非常好，可以看到這種槓桿效應的發揮。

Just in terms of, you know, Frank, I know you talked about really minimal to nonexistent uptick in churn as a result of the price increases to date. I'm just thinking about, you know, the first blush at it, the fiscal 24 guide. Are you expecting that to change or any anything directionally there on churn on either side of the business? And then, you know, with respect to the two segments, is there any difference in kind of growth rates that you're factoring in in those two segments relative to what you just did in Q4 for fiscal 24?

就而言，弗蘭克，我知道您談到了迄今為止價格上漲導致的客戶流失率確實微乎其微，甚至根本不存在。我只是在想，你知道，第一眼看到它就臉紅，24 財年指南。您是否預期這種情況會發生變化，或者業務雙方的流失是否會發生任何有方向性的變化？然後，您知道，就這兩個細分市場而言，您在這兩個細分市場中考慮的成長率與您剛剛在 24 財年第四季所做的相比是否有任何差異？

Chad, thanks for the question, Bob. And let me address the churn first. The we were pleasantly surprised and very pleased with the churn rate because you would think when you have a price increase that you would have had some increase in churn and our our customer retention was exactly the same as in the prior Q. three. And we had expected to have some increase that announcement, which we didn't see and some increase at implementation, which we didn't have.

查德，謝謝你的提問，鮑伯。讓我先解決客戶流失問題。我們對客戶流失率感到驚訝和非常滿意，因為您會認為，當價格上漲時，客戶流失率會增加，而我們的客戶保留率與之前的第三季度完全相同。我們原本預計公告會增加，但我們沒有看到，而實施方面也會增加，但我們沒有看到。

So that was very good. So we had now have over four months of experience with them with January over five. So we're not expecting any increase in that churn rates. So we think the customer retention will remain at that very high company, 91%, certainly in that range. And but we know what we did have if you look at it. If you if you look at the data and license reductions that we did see, we did have a relatively small reduction there of about 1% to 2% kind of.

所以這非常好。所以我們現在已經和他們有四個多月的經驗了，一月有五個多月了。因此，我們預期客戶流失率不會增加。因此，我們認為公司的客戶保留率將保持在很高的水平，即 91%，當然在這個範圍內。但如果你看看我們就知道我們確實擁有什麼。如果你看看我們確實看到的數據和許可證減少，我們確實有相對較小的減少，大約 1% 到 2%。

And then just in terms of the two segments, Frank, and how you're thinking about that relative to fourth quarter growth rates?

那麼就這兩個細分市場而言，弗蘭克，您如何看待相對於第四季成長率的情況？

Yes, the so as far as our growth rates go. We said we think our growth rate without the price increase kind of mirrored what was going on in quarter three. And so we were very pleased to see that growth rate of fee to at a high 30% range in organic and 40% or better with the price increase. And we're expecting that through fiscal year 24 and then the same on the computer backup, that organic side was in the low single digits. And with the price increase, we're in the low double digits. And that's how we're projecting it forward in 2024.

是的，就我們的成長率而言。我們說，我們認為在沒有價格上漲的情況下我們的成長率有點反映了第三季的情況。因此，我們非常高興地看到，有機費用成長率高達 30%，隨著價格上漲，費用成長率達到 40% 或更高。我們預計，到第 24 財年，以及隨後的電腦備份，有機部分將保持在較低的個位數。隨著價格的上漲，我們的價格處於低兩位數的水平。這就是我們對 2024 年的預測。

Got it. Thank you. And then maybe maybe one follow-up, if I could. For glad you highlighted a few times club on the call. The increase in deal sizes you're seeing and moving up, I think you characterize it in more into the mid-market. I guess is there just you cited a couple of very interesting wins, but can you just speak to whether it's B to reserve pipeline growth or are you know, or maybe it's actually additional use cases you're seeing in the mid-market that maybe you weren't seeing a year or two to go kind of any characterization of the magnitude of improvement or demand you're seeing from the mid-market?

知道了。謝謝。如果可以的話，也許還有一個後續行動。很高興你在電話中強調了幾次俱樂部。您所看到的交易規模的增加和上升，我認為您將其更多地描述為中端市場。我想您是否引用了一些非常有趣的勝利，但是您能否談談是否是為了保留管道增長，或者您是否知道，或者也許它實際上是您在中端市場看到的其他用例您沒有看到一兩年後對中端市場的改善或需求程度有任何描述嗎？

Yes. Thanks for the question, John. And I would maybe just to say, I think Frank was talking about the growth rates of the businesses and said it's at high 30. And so I think just to make sure that came across through the audio, which is it 30 being a high number, not a not a high 30s, our organic growth rate. So just to just make sure that I heard correctly and we are we are still very excited about the fact that in 2024, we're seeing around 40% growth for me to which I think is obviously a very strong growth rate in terms of the market movement.

是的。謝謝你的提問，約翰。我可能只是想說，我認為 Frank 正在談論企業的成長率，並表示其成長率高達 30。因此，我認為只是為了確保透過音訊傳達這一點，即 30 是一個很高的數字，而不是一個不高的 30 多歲，這是我們的有機成長率。因此，為了確保我沒有聽錯，我們仍然對 2024 年的事實感到非常興奮，我們看到我的成長率約為 40%，我認為這顯然是一個非常強勁的成長率市場趨勢。

So we're seeing a market movement in various ways. We're seeing that in backup customers. We're seeing that in application of storage customers we're seeing that in medium term customers in general, we're seeing more of market movement and the application storage customers and committed contracts that we're seeing, in particular, some of the areas where we're seeing upmarket traction. These are customers that typically are on one of the traditional cloud.

因此，我們正在以各種方式看到市場變動。我們在後備客戶中看到了這一點。我們看到，在儲存客戶的應用程式中，我們看到一般而言，在中期客戶中，我們看到更多的市場動向以及我們看到的應用程式儲存客戶和承諾的合同，特別是一些我們看到高端市場的吸引力的領域。這些客戶通常位於傳統雲端之一上。

They've gotten to some scale and they want to move off and do that for combination of savings on the storage. Often egress is an important component for them because they're using they're using other cloud providers like CDNs or compute providers. And they need the data to be able to exit from the storage and not be charged normally for that. And so the example I gave on the call a few minutes ago around the customer that saved $800,000.

他們已經達到了一定的規模，他們希望離開並這樣做以節省儲存費用。通常，出口對他們來說是一個重要組成部分，因為他們正在使用其他雲端供應商，例如 CDN 或運算提供者。他們需要資料能夠從儲存中退出，而不是正常收費。因此，我在幾分鐘前的電話會議上舉了一個關於節省了 80 萬美元的客戶的例子。

That's an application developer into media streaming company, but it's an application and storage use case, and that's probably where we're seeing some more of the larger deal type traction. Got it.

這是一家媒體串流公司的應用程式開發人員，但它是一個應用程式和儲存用例，這可能是我們看到更多較大交易類型吸引力的地方。知道了。

Thanks much and nice job again, Bill, thanks for the questions.

非常感謝，比爾，再次幹得好，謝謝你的提問。

Jason Ader, William Blair.

傑森·阿德，威廉·布萊爾。

Yes, thank you guys. First question for me is just for the media streaming use cases. You just talked about how you're finding these customers flat. Are they coming to you? Is it part of the some of the investments you've made in on in salespeople. Just give us a sense for how you're landing some of these of upmarket customers?

是的，謝謝你們。我的第一個問題只是針對媒體串流用例。您剛才談到如何發現這些客戶表現平平。他們來找你嗎？這是您對銷售人員進行的一些投資的一部分嗎？請讓我們了解一下您如何吸引一些高端客戶？

Thanks for the question, Jason. So media and entertainment is in a market use case that we started looking at a while ago because media companies have large volumes of data, video footage, photos, music, and they typically have workflows around those that benefit significantly from cloud storage as the way that that data flows. So we have media and entertainment customers that you've had that do their backups and archives with us. We also have media and entertainment companies that do their workflows with us where it used to be especially pre-COVID times that they would all sit in one place and do their production work together in a in an office that has become much more distributed, which means you need access to the all that media flow, all that media assets in a cloud environment so that they can access the data regardless of where they are.

謝謝你的提問，傑森。因此，媒體和娛樂是我們不久前開始關注的市場用例，因為媒體公司擁有大量資料、影片片段、照片、音樂，而且他們通常圍繞著那些從雲端儲存中受益匪淺的工作流程資料流動。因此，我們有一些媒體和娛樂客戶與我們一起進行備份和存檔。我們也有媒體和娛樂公司與我們一起完成他們的工作流程，尤其是在新冠疫情之前的時代，他們都會坐在一個地方，在一個變得更加分散的辦公室裡一起完成製作工作，這意味著您需要存取雲端環境中的所有媒體串流、所有媒體資產，以便他們無論身在何處都可以存取資料。

And some of them are also taking that next step and actually doing distribution using our cloud storage offering. So we see it as as an evolution for them. The first most basic level is the backup and archive. And then it's a more active archive use case where they archive the data, but then they're pulling from us that it's in actually developing the then media production, leveraging our workflows and then finally, doing distribution. And so in terms of where we're finding them.

其中一些人也正在採取下一步行動，並使用我們的雲端儲存產品實際進行分發。所以我們將其視為他們的進化。第一個最基本的等級是備份和歸檔。然後這是一個更活躍的存檔用例，他們存檔數據，但隨後他們從我們那裡得知，它實際上是在開發當時的媒體製作，利用我們的工作流程，最後進行分發。所以就我們在哪裡找到它們而言。

A lot of them continue to come to us through the same methods that we attract all of our customers, which is a combination of content and community, the blogs that we publish, which has millions of readers around it, a lot of those also end up being media entertainment customers. But we've also layered on some marketing motions, including events. So we have them. We present that media events such as MAD. in Las Vegas. We've been at other media events in New York and Amsterdam and other places.

他們中的許多人繼續透過我們吸引所有客戶的相同方法來找我們，這是內容和社群的結合，我們發布的部落格擁有數百萬讀者，其中許多人也結束了成為媒體娛樂客戶。但我們也分層了一些行銷活動，包括活動。所以我們有它們。我們介紹 MAD 等媒體活動。在拉斯維加斯。我們參加過紐約、阿姆斯特丹等地的其他媒體活動。

And so that layers on top of that. And then we have the channel effort that we've been investing in is also a good partner for us where they have relationships with media companies, they find out that they need help. They want to transition off of off of the LTO, often on-premise systems or sometimes off of the traditional legacy clouds and they bring those jobs to us and then we work with them to support those customers.

所以這是在上面的層。然後，我們一直在投資的管道工作對我們來說也是一個很好的合作夥伴，他們與媒體公司有關係，他們發現自己需要幫助。他們希望從 LTO（通常是本地系統）或有時從傳統的遺留雲中過渡出來，他們將這些工作交給我們，然後我們與他們合作來支援這些客戶。

Great. Great.

偉大的。偉大的。

That's helpful. And then just second quick question for you, Glenn, is when we talk about the stack ways would be to be used for some of the AI related use cases. I guess I always thought that a I required flash storage just because of the need for speed, especially on the inferencing side. So can you just talk to some whether that's just a kind of a a misperception on my part?

這很有幫助。Glenn，第二個簡單的問題是，當我們談論用於某些人工智慧相關用例的堆疊方式時。我想我一直認為我需要閃存只是因為需要速度，特別是在推理方面。那麼你能跟一些人談談這是否只是我的一種誤解？

It's a good question. And obviously, AI has a lot of different aspects of it. And we've been we've published, including on our blog, we've published some of the workflows that companies use with AI. and there's there's the development of the training models, which starts with a lot of data. And then the way the work flow is to run multiple multiple iterations at high speeds on that data to build the model. And that generally requires very high-performance storage closely located to the compute. That's not the optimal use case for us, at least not today, but a lot of the other workflows are actually really good steps.

這是一個好問題。顯然，人工智慧有很多不同的面向。我們已經發布了一些公司使用人工智慧的工作流程，包括在我們的部落格上。還有訓練模型的開發，這是從大量的資料開始。然後工作流程的方式是對該資料高速運行多次迭代以建立模型。這通常需要靠近運算的高效能儲存。這對我們來說不是最佳用例，至少在今天不是，但許多其他工作流程實際上都是很好的步驟。

And so the workflow types that we've seen customers follow is where they will often upload information from them that's from a backup. Sometimes it's from existing assets. They have some assets from systems that are generating data that data flows into backplanes. It's stored in B. two, then they use our combination of free egress and partnerships with other GPU clouds to send the data to those locations for processing. And then that processed data then gets put back into into backlog be to for a combination of one being served up as part of the application itself to customers and to for longer-term retention around backup and archive of that at AI data we also have some customers that use us as the original place where they store the data before it gets used for model training.

因此，我們看到客戶遵循的工作流程類型是他們經常上傳備份資訊的地方。有時它來自現有資產。他們擁有一些來自生成數據的系統的資產，這些數據流入背板。它儲存在 B.2 中，然後他們使用我們的自由出口以及與其他 GPU 雲端的合作夥伴關係的組合將資料傳送到這些位置進行處理。然後，處理後的資料會被放回待辦事項中，以便作為應用程式本身的一部分提供給客戶，並為了長期保留人工智慧資料的備份和存檔，我們也有一些在資料用於模型訓練之前將我們用作儲存資料的原始位置的客戶。

And so there are some use cases for which object storage in the cloud is a great fit and some for which start. But it's a tremendous amount of data that is being generated out there for AI. And we think that we wouldn't think AI. So definitely in the early innings of the opportunity that we all have to to help there.

因此，有些用例非常適合雲端中的物件存儲，有些用例則適合開始。但人工智慧正在產生大量數據。我們認為我們不會想到人工智慧。因此，在機會的早期階段，我們所有人都必須提供協助。

Got it. All right. Thanks. Good luck.

知道了。好的。謝謝。祝你好運。

Victor Chiu, Raymond James.

維克多邱，雷蒙德詹姆斯。

Please go ahead.

請繼續。

Hi, guys.

嗨，大家好。

This is Victor Chiu in for Simon Leopold. I just want to follow up on that AI. question. Did you guys say that you have some AI kind of specific functions and initiatives kind of in the works or you're just mentioning that debt down, you have the use cases are currently for a I'm just want to elaborate on specifically what your exposure to Asia and kind of what your AIM. solutions kind of focus features are?

這是維克多·趙（Victor Chiu）飾演西蒙·利奧波德（Simon Leopold）。我只是想跟進那個人工智慧。問題。你們是否說過你們正在開發一些人工智慧類型的特定功能和計劃，或者你們只是提到債務減少了，你們目前的用例是針對一個我只想詳細說明一下你們的具體用途接觸亞洲以及你們的目標是什麼。解決方案的重點特點是什麼？

Yes. Thanks for the question, Victor. So this is Glenn. So the short answer is yes to both blowout. If you look back at some of what we did in the last year. And the first part of it is making sure that we have a durable, high performance available storage platform that's affordable is a key component of providing value to customers who want to service their AI data, right? So fundamentally, making sure that we're providing them a top tier storage platform for all of that AI. data that is that needs to be stored somewhere needs to be delivered to other locations, and it needs to be delivered to customers.

是的。謝謝你的提問，維克多。這就是格倫。所以簡短的回答是，兩次井噴都是肯定的。如果你回顧一下我們去年所做的一些事情。第一部分是確保我們擁有一個耐用、高性能、價格實惠的可用儲存平台，這是為想要為其人工智慧資料提供服務的客戶提供價值的關鍵組成部分，對嗎？因此從根本上來說，確保我們為他們提供所有人工智慧的頂級儲存平台。需要儲存在某個地方的資料需要傳送到其他位置，並且需要傳送給客戶。

So we've been investing behind that platform in Q4. We built on our launch short Stash, which was the higher-performance wave for B to torque, which is a helpful piece of continuing to add value to that platform. That's kind of step one step two is making sure that we're supporting our customers in understanding how to run these different workflows and how to use object cloud storage as part of that. And so we've been working on. And like I mentioned on our blog, there are stories and studies around the different workflows and how to use them and understanding that that landscape better.

因此，我們在第四季度一直在對該平台進行投資。我們以我們的發布短片 Stash 為基礎，這是 B 扭矩的更高性能浪潮，這對於繼續為該平台增加價值是有幫助的。這是第一步第二步，確保我們支援客戶了解如何運行這些不同的工作流程以及如何使用物件雲端儲存作為其中的一部分。我們一直在努力。正如我在部落格中提到的，有一些關於不同工作流程以及如何使用它們和更好地理解這種情況的故事和研究。

And the third thing is partnerships. We mentioned that we partnered with core. We've been partners with vulture. So we have these GPU clouds that we partner with and we make it easy for customers to move their data between us and them in as part of this open cloud ecosystem supporting their AI use. And then the last part of it is that, as I mentioned our Head of Sales.

第三件事是夥伴關係。我們提到我們與 core 合作。我們一直是禿鷹的合作夥伴。因此，我們擁有與我們合作的 GPU 雲，我們讓客戶可以輕鬆地在我們和他們之間移動數據，作為支援他們的人工智慧使用的開放雲生態系統的一部分。最後一部分是，正如我所提到的我們的銷售主管。

Once we hire a new head of sales, he's going to be focusing his entire area of focus on our AI initiatives, which includes both the go to market things, some of which I talked about, but also the product platform side. And David Knowles is our new Chief Product Officer, and he's also looking at the product roadmap opportunities to help customers at core. There's a tremendous amount of data getting generated. There's a lot of use cases around that, just providing a really robust platform for all the data. We believe is the kind of most important job one. But then we do see opportunity to help customers in additional ways and beyond that.

一旦我們聘請了新的銷售主管，他將把整個重點領域集中在我們的人工智慧計畫上，其中包括進入市場的事情（我談到了其中的一些事情），也包括產品平台方面。大衛‧諾爾斯 (David Knowles) 是我們新任首席產品官，他也在尋找產品路線圖機會來為核心客戶提供協助。產生了大量數據。圍繞此有很多用例，只是為所有數據提供一個真正強大的平台。我們相信這是最重要的工作之一。但我們確實看到了以其他方式幫助客戶的機會。

Great. That's very helpful. And I guess I just have one more kind of general industry question and more recently, we've heard commentary from a number of cloud providers who have kind of noted an industry wide trend around cloud cost optimization and kind of increased scrutiny around public cloud spending from their entire customer base. So on just kind of curious if you've observed any similar dynamics and if not, what why do you think that's the case?

偉大的。這非常有幫助。我想我還有一個普遍的行業問題，最近，我們聽到了許多雲端供應商的評論，他們注意到了圍繞雲端成本優化的行業廣泛趨勢以及對公有雲支出的更多審查來自他們的整個客戶群。因此，我只是好奇您是否觀察到任何類似的動態，如果沒有，您認為為什麼會發生這種情況？

So I think that we are different in that with a lot of the traditional clouds, and we've certainly seen that commentary as well. And we've seen the impacts on them for that. And with a lot of the traditional cloud, they they have their offerings are priced slightly high grades, and they've often been it's been complicated and confusing to understand the customers, what is what they're paying for. And so we've heard from many customers say that they were surprised by their cloud bills. They were they were unsure where the dollars were going and what they were spending on.

所以我認為我們的不同之處在於有很多傳統的雲，我們當然也看到了這樣的評論。我們已經看到了這對他們的影響。對於許多傳統雲端來說，他們的產品定價略高，而且他們常常覺得了解客戶以及他們所支付的費用是複雜和令人困惑的。因此，我們聽到許多客戶表示，他們對雲端帳單感到驚訝。他們不確定這些錢花在哪裡以及花在哪裡。

And so I think that one of the differences is that belief has always been transparent. We've always made it easy to understand what you're paying for. And we've always been very affordable in our price point. So I think that effectively our customers have always been optimized. And as part of that. And so I think as a result, we're not subject to some of the same trends that they're seeing. Now, as Frank mentioned, we did see a 1% to 2% incremental reduction in licenses and data in Q4, which we believe is largely attributed to the price increase execution that we did.

所以我認為差異之一是信仰一直是透明的。我們始終讓您輕鬆了解您所支付的費用。我們的價格一直都非常實惠。所以我認為我們的客戶實際上一直在優化。作為其中的一部分。所以我認為，因此，我們不會受到他們所看到的一些相同趨勢的影響。現在，正如 Frank 所提到的，我們確實看到第四季度許可證和資料增量減少了 1% 到 2%，我們認為這很大程度上歸因於我們執行的價格上漲。

Yes. And this is Frank. I guess that's very helpful Yes, this is Frank. I would add one item. Of course, this greater scrutiny and attention on data storage cost benefits because we have such a good value play in the market. So we really appreciate the attention and that commentary. Thank you.

是的。這是弗蘭克。我想這很有幫助 是的，這是弗蘭克。我會添加一項。當然，對資料儲存成本進行更嚴格的審查和關注是有好處的，因為我們在市場上有很好的價值。因此，我們非常感謝您的關注和評論。謝謝。

Erik Suppiger, JMP.

埃里克·蘇皮格，JMP。

Please go ahead.

請繼續。

Yes, thanks for taking the question. First off do you have a sense for what portion of your installed base of your customer base is on the new pricing? I believe you have a mixture of have month to month customers and annual contract customers. And I'm just curious how much of it is was on that from month to month? And then secondly, for these larger customers, are they typically customers that are on the likes of AWS or Azure, and then they're they're moving off completely moving applications off if they're doing AI applications and moving those off completely or they just migrating their storage off of off of those hyperscalers, it hurt by higher.

是的，感謝您提出問題。首先，您是否了解您的客戶群中的哪一部分採用了新定價？我相信你們既有月度客戶，也有年度合約客戶。我只是好奇每個月有多少是這樣的？其次，對於這些較大的客戶來說，他們通常是使用 AWS 或 Azure 等的客戶，如果他們正在開發人工智慧應用程式並完全刪除這些應用程序，那麼他們將完全刪除應用程序，或者他們只是將存儲從那些超大規模伺服器遷移出來，這會受到更高的傷害。

Ed, this is Frank.

艾德，這是弗蘭克。

I'll take the first part of the question who's on the new pricing. So on our B2B side, the group that is that is the pay as you go customers. The rest of our client base are on committed contract or the B to reserve group, which of pay in advance. So they were unaffected by the price increase, but they all went on immediately. So that pay as you go group, it was immediately affected at the beginning of the quarter. The as far as the computer backup group, 25% of them approximately are monthly and they immediately had the increase and then 75% are either one year or two year, and they are graduating and upon renewal.

我將回答誰在使用新定價的問題的第一部分。因此，在我們的 B2B 方面，該群體就是即用即付的客戶。我們的其餘客戶群均簽訂承諾合約或 B 預訂組，需提前付款。所以他們並沒有受到漲價的影響，而是都立刻上路了。因此，現收現付集團在本季初就立即受到影響。就電腦備份組而言，其中約 25% 是每月一次，並且立即增加，然後 75% 是一年或兩年，他們即將畢業並續訂。

And then, Eric, to your other question about for the upmarket customers. And this implies you're asking whether they're fully migrating off of the traditional cloud providers or whether they're moving that data up. And I will say is a mix of both. We've seen we've actually seen both types. So one one scenario that we've seen and is customers who have don't have a million different things they're doing inside of the traditional product and really they need a handful of significant important services storage being obviously one of them and often it's storage, compute and networking. And so they'll use us for storage. They'll use companies like Cloudflare, Fastly, bunny for networking, and they'll use someone like a core. We were a vulture distortion for them for the compute and those migrate fully out of them and go full on Open Cloud, get to have freedom of the data as part of their stack. And we've also seen the other side where they continue to leverage the traditional box for some of their other services that they use us for storage. And I think one customer example, if they actually kept there's their storage in AWS, but they added back blades and they actually made the default and they were able to increase their durability that way. But they then also decreased their bill by half overall because they were paying so much for getting the data out of Amazon to their preferred network provider that by switching to us, they were able to save enough money to add us and still cut their bill, the whole entire infrastructure go in-house. So we see both. It kind of depends on what they're trying to do with their infrastructure.

然後，艾瑞克，回答你關於高端客戶的另一個問題。這意味著您要問他們是否完全從傳統雲端供應商遷移，或者是否正在將資料向上移動。我想說的是兩者的混合。我們已經看到我們實際上已經看到了這兩種類型。因此，我們看到的一個場景是，客戶在傳統產品中沒有做一百萬種不同的事情，他們實際上需要一些重要的服務存儲，顯然就是其中之一，而且通常是存儲、計算和網路。所以他們會用我們來存放。他們會使用 Cloudflare、Fastly、bunny 等公司進行網路建設，並且會使用核心人員。對他們來說，我們是計算方面的禿鷹扭曲者，那些人完全從他們中遷移出來，完全轉向開放雲，獲得數據的自由作為他們堆疊的一部分。我們也看到了另一面，他們繼續利用傳統的盒子來提供他們使用我們進行儲存的其他一些服務。我想一個客戶的例子，如果他們實際上將存儲保留在 AWS 中，但他們添加了後刀片，並且他們實際上進行了默認設置，他們就能夠通過這種方式提高其耐用性。但他們隨後也將總體賬單減少了一半，因為他們為將數據從亞馬遜傳輸到他們首選的網絡提供商而付出了高昂的費用，因此通過切換到我們，他們能夠節省足夠的錢來添加我們，並且仍然可以削減賬單，整個基礎設施都在內部進行。所以我們兩個都看到。這在某種程度上取決於他們試圖利用基礎設施做什麼。

So as you move up market, is this going to create more opportunities for you to work with your the bandwidth alliance and to strengthen that partnership?

那麼，當您進入市場時，這是否會為您創造更多與頻寬聯盟合作並加強這種夥伴關係的機會？

Yes. I think so in part because we're well in upmarket, we're doing more of a consultative discussion with these customers. And so as you know, we have a large self-serve business and those customers are doing what they choose to do, and many of them are moving off of the traditional cloud providers also but they're but they're doing that without having conversations with them.

是的。我認為部分原因是我們在高端市場表現良好，我們正在與這些客戶進行更多的諮詢討論。如您所知，我們擁有龐大的自助服務業務，這些客戶正在做他們選擇做的事情，其中​​許多人也正在放棄傳統的雲端供應商，但他們正在這樣做，但他們沒有與他們交談。

Will it with the market once we're having more of the discussion of what makes sense in a strategic sense for you, Mr. Customer as we as you go forward in your future and how do you want that? Is that infrastructure to work for you on long term?

客戶先生，當我們更多地討論什麼對您具有戰略意義時，市場會隨著您的未來前進嗎？您希望如何實現這一目標？該基礎設施是否適合您長期使用？

Very good.

非常好。

Thank you.

謝謝。

Yes.

是的。

Eric Martinuzzi, Lake Street Capital Markets.

馬丁努齊 (Eric Martinuzzi)，湖街資本市場。

Please go ahead.

請繼續。

Yes, good quarter and outlook.

是的，季度和前景都不錯。

I was curious to know on the 2024 view where do you expect the gross margin ranging for the full year?

我很想知道對 2024 年的看法，您預計全年的毛利率範圍在哪裡？

Yes, we had previously a higher as Frank. We are previously saying that our before that our gross margin was going to be the mid 70% range. And now we're very comfortable to say it's going to be in the upper 70% range non-GAAP. So we're seeing that it's about approximately a four percentage point improvement and about half of that is attributed to the price increase.

是的，我們之前有一個更高的弗蘭克。我們之前說過，我們的毛利率將在 70% 左右。現在，我們可以非常放心地說，它將處於非 GAAP 70% 的上限範圍內。因此，我們看到大約提高了四個百分點，其中大約一半歸因於價格上漲。

That's a thought.

這是一個想法。

And then I did see a decline in the computer backup customers as of year end, you were down to 431,007 45 versus 436,000 zero eight zero.

然後我確實看到截至年底電腦備份客戶數量有所下降，從 436,000 0 8 0 減少到 431,007 45。

So what is the explanation there yes. Thanks for the question. This is Glenn. So the so first of all, as Frank mentioned, or where we think the we saw a 1% to 2% and license usage and decline in quarter one. So that the number that you're talking about is the customer number which stayed consistent at that high gross customer retention rate. What I will say is that that number in general is something that we're looking at, whether it's a relevant metric going forward into the future because it's so heavily influenced by the number of consumer customers on on that product line, whereas we are increasingly focused on going into self servicing businesses and in particular, more upmarket businesses. And so you can imagine what that number is driven by one consumer customer is treated the same as one customer. That pays us six figures. And so now that I want to get a full turnaround ahead of it, it sounds like just especially given the guide, it's not all customers are created equal?

那麼那裡的解釋是什麼呢？謝謝你的提問。這是格倫。首先，正如 Frank 所提到的，或者我們認為第一季許可證使用量下降了 1% 到 2%。因此，您所說的數字是在高客戶保留率下保持一致的客戶數量。我要說的是，這個數字總體上是我們正在關注的東西，無論它是否是未來的相關指標，因為它很大程度上受到該產品線上消費者客戶數量的影響，而我們越來越多地專注於進入自助服務業務，特別是更高端的業務。因此，您可以想像這個數字是由一位消費者客戶所驅動的，並且與一位客戶受到相同的對待。這給我們帶來了六位數的報酬。所以現在我想提前實現全面週轉，聽起來就像是特別給了指南，不是所有客戶都是平等的嗎？

Exactly.

確切地。

Yes.

是的。

And as we mentioned that we just launched enterprise control, which is a new functionality and tools that help the larger customers manage all their licenses and computers. Again, not relevant for an individual consumer customer and the individual consumers are what drives the pure number of customers metric but thanks for taking my questions.

正如我們所提到的，我們剛剛推出了企業控制，這是一種新的功能和工具，可以幫助大客戶管理他們的所有許可證和電腦。再說一次，與個人消費者客戶無關，個人消費者才是驅動純粹客戶數量指標的因素，但感謝您回答我的問題。

Thank you.

謝謝。

Zach Cummins, B. Riley Securities.

康明斯 (Zach Cummins)，B. 萊利證券 (Riley Securities)。

Please go ahead.

請繼續。

Yes, hi, good afternoon.

是的，嗨，下午好。

Glad and Frank. Congrats on the quarter and the guide.

很高興和弗蘭克。恭喜本季和指南。

Just a few questions or a glib. You were talking about initiatives of moving up market and potentially changing some of the commission structure for some of your salespeople. So can you talk about maybe potential changes as you move upmarket and any sort of incremental investments you need to make outside of the leadership change that that's ongoing?

只是幾個問題或油嘴滑舌。您正在談論提升市場的舉措以及可能改變某些銷售人員的一些佣金結構。那麼，您能否談談當您轉向高端市場時可能發生的潛在變化，以及在正在進行的領導層變革之外需要進行的任何增量投資？

Right now?

現在？

Yes. So we've been taking steps down this path. So you probably remember when we went public, we were 80% of all of our business was from self-serve. And we had talked about how the sales assisted our customers were larger and we were with them somewhat nascent in motion for us. But we were seeing larger deals and customers liking that service that we provide. And so we said we were going to be using some of the proceeds to stand up a sales team and start putting more focus behind the sales effort. And so some of the things that we've done over that time was we stood up an R team, which is an outbound team. We staffed up some of the sales team in terms of SDRs, BDRs account executives, solutions engineers and built out that team. We've also divided the groups up into territories. We've changed some of the way that we structure and guide leads through the funnel to them. And so the sales operations aspect of it introducing B2B reserve and the ability to sell committed contracts were two important steps that allowed us to actually have the sales team sell as opposed to only assist in a self-serve type motion and then adding the channel motion helped the sales team as well. So those are a number of changes we've been making over time over the last two years to help enable the sales team to sell to organizations and sell to larger divisions. The we're looking for then the new head of sales. In addition to that, we are have we have a number of open recs well on the sales team for a senior account execs to sell to those larger organizations. We have the commission program that we talked about. And so it is just some of the things that we have been. That's something that we are doing as part of continuing to move upmarket. And there there are things around the other organizations, marketing, customer support, cloud operations and others are also being supportive in that kind of entire company focus moving upmarket.

是的。所以我們一直沿著這條道路採取措施。所以你可能還記得，當我們上市時，我們 80% 的業務來自自助服務。我們已經討論過銷售如何幫助我們的客戶變得更大，而我們與他們的合作對我們來說有些新生。但我們看到更大的交易和客戶喜歡我們提供的服務。因此，我們說我們將使用部分收益來組建銷售團隊，並開始更加關注銷售工作。所以我們在那段時間所做的一些事情就是我們成立了一個 R 團隊，這是一個外向團隊。我們為銷售團隊配備了 SDR、BDR 客戶經理、解決方案工程師，並組建了團隊。我們也將這些組別劃分為不同的區域。我們改變了一些建立和引導潛在客戶透過管道到達他們的方式。因此，在銷售營運方面引入 B2B 儲備和銷售承諾合約的能力是兩個重要步驟，使我們能夠真正讓銷售團隊進行銷售，而不是僅協助自助式動議，然後添加通路動議也為銷售團隊提供了幫助。這些是我們在過去兩年中不斷做出的一些改變，以幫助銷售團隊向組織和更大的部門銷售。我們正在尋找新的銷售主管。除此之外，我們在銷售團隊中擁有許多開放的建議，供高階客戶主管向那些較大的組織銷售。我們有我們談到的佣金計劃。這只是我們經歷過的一些事情。這是我們繼續進軍高端市場的一部分。其他組織、行銷、客戶支援、雲端營運和其他組織也在支持整個公司將重點轉向高端市場。

Understood. And final question for me is just around cash usage. Nice to see that reaffirm $20 million target at the end of this upcoming year. But Frank, aside from the improved profitability in the business, I mean, can you walk me through just some of the other key inputs in terms of expectations for CapEx and some of your principal payments for capital lease obligations.

明白了。對我來說最後一個問題是關於現金的使用。很高興看到今年年底重申 2000 萬美元的目標。但是弗蘭克，除了業務盈利能力的提高之外，我的意思是，您能否向我介紹一下資本支出預期以及資本租賃義務的一些本金支付方面的其他一些關鍵信息。

So are the on the CapEx side, for example, we're expecting to come I incur about 16 to $18 million of new equipment there. And if you recall, that is slightly less than what I had been saying previously at the 18 to 20 million range. And the reasons for that actually is very similar to what we spent at the mid point this year. And the reason that that is from flat and or slightly declining is that we're still using up the pandemic buffer when we built up on additional equipment during the pandemic times. So we're still using that in our data centers, which will be largely done after Q1.

例如，資本支出方面也是如此，我們預計將在那裡投入約 1,600 至 1,800 萬美元的新設備。如果你還記得的話，這比我之前所說的 18 到 2000 萬範圍內的數字略少。原因實際上與我們今年中期的支出非常相似。這一數字持平或略有下降的原因是，當我們在大流行期間增加額外設備時，我們仍在耗盡大流行緩衝。因此，我們仍在資料中心中使用它，這將在第一季之後完成。

And then on the innovation side where our engineers are continuously improving the platform. One of the areas that we expect to get a benefit in this year, especially is in faster delete. So anytime you can delete data quicker. You can store new data on the same hard drives. So that's driving some of that and the other. So that's on the CapEx side. And then you had also asked on the leasing side. And what's really driving that part is if you look at our total leases, you would notice that the total amount of leases long and short term together is actually declining. So what's basically happening is that we have a larger fall off in leases that we have new leases being added and it's for the same two reasons, the pandemic and pandemic leases are falling off because there are a lot of them came on three years ago, and they continue to fall off very quickly now and the new leases that we're adding for the new CapEx are just not as great as what's falling off. So that's why we're getting a kind of a again, a flat to slightly declining on payments pace on those leases.

然後在創新方面，我們的工程師不斷改進平台。我們預計今年將受益的領域之一，尤其是更快的刪除速度。因此您可以隨時更快地刪除資料。您可以將新資料儲存在同一硬碟上。所以這是推動其中一些和其他的。這就是資本支出方面。然後你也問了租賃方面的問題。真正推動這一趨勢的是，如果您查看我們的總租賃量，您會發現長期和短期租賃總量實際上正在下降。因此，基本上發生的情況是，隨著新租約的增加，我們的租約下降幅度更大，這也是出於同樣的兩個原因，大流行和大流行病租約正在下降，因為其中許多是三年前租的，現在它們繼續快速下降，而我們為新資本支出添加的新租賃並不像下降的那麼大。因此，這就是為什麼我們的租賃付款速度再次出現持平甚至略有下降的原因。

But there are other items right now.

但現在還有其他項目。

I think that answers all of them.

我認為這回答了所有問題。

But yes.

但是，是的。

Thank you, Simon.

謝謝你，西蒙。

Thanks for the question.

謝謝你的提問。

Correct.

正確的。

This concludes our question and answer session. I would like to turn the conference back over to Mimi Kahn.

我們的問答環節到此結束。我想把會議轉回給米米·卡恩。

Thank you. At this spot at this time, I'd like to go over some of the questions submitted to us from CA Technologies. It looks like we might be able to get one in and this one's for you. Glad last year, Microsoft made a change to how OneDrive six files resulting in backlog is no longer being able to backup folders such as docs desktop picks when they're set to backup sync. Carbonite has three 65 backup option. What is backlogs a solution given how popular one drives think is? And another part of that question is what would the cost and share price implications to launch a similar, but improved equivalent to Microsoft and other leading backup and storage PROGRAM speeds.

謝謝。此時此刻，我想回顧一下 CA Technologies 向我們提交的一些問題。看起來我們也許能拿到一張，這個是給你的。很高興去年，微軟對 OneDrive 六個文件的方式進行了更改，導致積壓的文件不再能夠備份資料夾，例如文件桌面選擇，當它們設定為備份同步時。Carbonite有3個65備份選項。考慮到驅動器的受歡迎程度，積壓是一種解決方案嗎？這個問題的另一部分是，推出類似但改進的與微軟和其他領先的備份和儲存程式速度相當的成本和股價影響。

Okay. So it's the I think the way to that question, Sam. But obviously, it sounds like for Microsoft. It's something specific to make it so that we can back that up to be clear that that would happen.

好的。所以我認為這就是回答這個問題的方法，山姆。但顯然，這聽起來像是微軟的。這是一個特定的事情，這樣我們就可以支持這一點，以明確這將會發生。

So what Microsoft did was the customers keep files on their computer. And what OneDrive did was it enabled customers to put some of their files in the cloud and not on the computer. So our computer backup service is designed to protect all of the data on your laptop or desktop. And we so we backup everything that is on your laptop or desktop back of everything that's on your external hard drives. We do that for consumers. We do that for businesses. And if the data does not exist on your computer because it's in the cloud, our computer backup service does not protect that data. And so there it's also two things on that front. One is that we are very focused on continuing to grow computer backup. We think it's a good growth business. It's grown every single quarter since the start of this company. And we aim to continue to provide value to our customers with that service and the customers that we are focused on trying to add more functionality and features to our, especially on the business side and the enterprise control functionality that we added is an example of that. But we're very much listening to customers and seeing what else they want from us with that offering.

所以微軟所做的就是客戶將文件保存在他們的電腦上。OneDrive 的作用是讓客戶能夠將一些檔案放在雲端而不是電腦上。因此，我們的電腦備份服務旨在保護您的筆記型電腦或桌上型電腦上的所有資料。因此，我們將筆記型電腦或桌上型電腦上的所有內容備份到外部硬碟上的所有內容。我們為消費者這樣做。我們為企業這樣做。如果資料在雲端而不存在於您的電腦上，我們的電腦備份服務不會保護該資料。因此，這方面還有兩件事。一是我們非常專注於繼續發展電腦備份。我們認為這是一項良好的成長業務。自公司成立以來，每個季度它都在成長。我們的目標是繼續透過該服務為我們的客戶提供價值，並且我們專注於嘗試為我們的客戶添加更多功能和特性，特別是在業務方面，我們添加的企業控制功能就是一個例子。但我們非常傾聽客戶的意見，看看他們還想從我們的產品中得到什麼。

The other thing that I will say is that with our BE two cloud storage, we serve a variety of use cases and backing up SaaS applications data that's in other cloud services and data that the Microsoft Office three 65 hundreds are things that our customers absolutely do. They do that would be too as the cloud storage destination and we're leveraging our partners for the different use cases. So some of those use cases are served by partners of ours like Veeam and Veritas and comm Vault and others where they take care of the software side of backing up those different file types and applications and the end customers can then put that data in QB two and have that be the destination. So from so I would say we currently service those use cases, we service them along with our partners and then this would probably be the last question for today split, what is the single most impactful strategy over the next couple of quarters?

我要說的另一件事是，透過我們的BE 2 雲端存儲，我們可以為各種用例提供服務，並備份其他雲端服務中的SaaS 應用程式數據以及Microsoft Office 3 65 數百的數據，這是我們的客戶絕對要做的事。他們這樣做也將作為雲端儲存目的地，我們正在利用我們的合作夥伴來應對不同的用例。因此，其中一些用例由我們的合作夥伴（例如 Veeam、Veritas 和 comm Vault 等）提供服務，他們負責備份這些不同文件類型和應用程式的軟體方面，然後最終客戶可以將這些資料放入 QB 2 中並將其作為目的地。因此，我想說，我們目前為這些用例提供服務，我們與合作夥伴一起為它們提供服務，然後這可能是今天的最後一個問題，未來幾季最有影響力的策略是什麼？

So I'm not sure if I would call it a single most impactful. But as we talked about moving upmarket is certainly a key component for us along with the channel efforts that we're doing, the innovation that we've done and continue to do is something that we believe will provide a lot of value to customers and deliver growth for us. And then we believe this trend of the Open Cloud it is a key step. So in terms of impactful strategies, those are the key things that we're leaning into. And the other one, obviously, we've talked about AI at some level we are selling effectively the picks and shovels of the AIH. And I think that that is going to be a significant long-term opportunity for us.

所以我不確定我是否會稱其為最具影響力的單曲。但正如我們所談到的，進入高端市場以及我們正在做的渠道工作無疑是我們的一個關鍵組成部分，我們已經完成並繼續進行的創新是我們相信將為客戶提供大量價值的事情，為我們帶來增長。我們相信開放雲的趨勢是關鍵的一步。因此，就有效的策略而言，這些是我們正在關注的關鍵問題。另一方面，顯然，我們已經在某種程度上討論了人工智慧，我們正在有效地銷售 AIH 的鎬和鏟子。我認為這對我們來說將是一個重要的長期機會。

All right. That's it for those questions. I'm going to hand the call back to Glenn for a.

好的。這些問題就這些了。我要把電話轉給格倫。

Thank you, Maria, and thank you, everybody, for the questions. Thank you to our to the to our investors that ask questions for the C Technologies platform to the analysts to join us. And operator, we're now ready to end the call you next exports.

謝謝瑪麗亞，也謝謝大家提出的問題。感謝我們的投資者向 C Technologies 平台向分析師提出問題加入我們。接線員，我們現在準備結束通話，下次出口。

The conference has now concluded Thank you for attending today's presentation. You may now disconnect.

會議現已結束，感謝您參加今天的演講。您現在可以斷開連線。