CSG Systems International Inc (CSGS) 2023 Q4 法說會逐字稿

Thank you for standing by.

謝謝你的支持。

My name is Greg and I will be your conference operator today.

我叫格雷格，今天我將擔任你們的會議操作員。

At this time, I would like to welcome everyone to CSG's Q4 and Full Year 2023 Earnings Call.

此時此刻，我謹歡迎大家參加南玻集團 2023 年第四季和全年財報電話會議。

(Operator Instructions) I would now like to turn the call over to John Rea, Treasurer and Head of Investor Relations.

（操作員說明）我現在想將電話轉給財務主管兼投資者關係主管 John Rea。

John, please go ahead.

約翰，請繼續。

Thank you, operator, and thanks to everyone for joining us.

謝謝運營商，也謝謝大家加入我們。

Like last quarter, we will be working from a slide deck, which can be found on the Investor Relations section of our website.

與上季一樣，我們將透過投影片進行工作，您可以在我們網站的投資者關係部分找到該投影片。

Please take a moment to locate these slides.

請花點時間找到這些幻燈片。

Today's discussion will contain a number of forward-looking statements.

今天的討論將包含一些前瞻性陳述。

These include, but are not limited to, statements regarding our projected financial results; our ability to meet our clients' needs through our products, services, and performance; and our ability to successfully integrate and manage acquired businesses in order to achieve their expected strategic, operating, and financial goals.

這些包括但不限於有關我們預期財務表現的聲明；我們透過我們的產品、服務和績效來滿足客戶需求的能力；我們成功整合和管理收購的業務以實現其預期策略、營運和財務目標的能力。

While these risks reflect our best current judgment, they are subject to risks and uncertainties that could cause our actual results to differ materially.

雖然這些風險反映了我們目前的最佳判斷，但它們受到風險和不確定性的影響，可能導致我們的實際結果出現重大差異。

Please note that these forward-looking statements reflect our opinions only as of the date of this call, and we undertake no obligation to revise or publicly release any revision to these forward-looking statements in light of new or future events.

請注意，這些前瞻性陳述僅反映我們截至本次電話會議之日的意見，我們沒有義務根據新的或未來的事件修改或公開發布對這些前瞻性陳述的任何修訂。

In addition to factors noted during this call, a more comprehensive discussion of our risk factors can be found in today's press release, as well as our most recently filed 10-K and 10-Q, which are all available in the Investor Relations section of our website.

除了本次電話會議中提到的因素之外，我們還可以在今天的新聞稿以及我們最近提交的10-K 和10-Q 中找到對我們風險因素的更全面的討論，這些都可以在投資者關係部分找到。我們的網站。

Also, we will discuss certain financial information that is not prepared in accordance with GAAP.

此外，我們還將討論某些未依照 GAAP 編製的財務資訊。

We believe that these non-GAAP financial measures, when reviewed in conjunction with our GAAP financial measures, provide investors with greater transparency to the information used by our management team in our financial and operational decision-making.

我們相信，這些非公認會計原則財務指標與我們的公認會計原則財務指標一起審查時，可以為投資者提供更大的透明度，讓他們了解我們的管理團隊在財務和營運決策中使用的資訊。

For more information regarding our use of non-GAAP financial measures, we refer you to today's earnings release and non-GAAP reconciliation tables on our website, which will also be furnished to the SEC on Form 8-K.

有關我們使用非 GAAP 財務指標的更多信息，請參閱我們網站上今天的收益發布和非 GAAP 調節表，這些表也將通過 8-K 表提供給 SEC。

With me today on the phone are Brian Shepherd, Chief Executive Officer; and Hai Tran, Chief Financial Officer.

今天與我通電話的是執行長布萊恩‧謝潑德 (Brian Shepherd)；和財務長 Hai Tran。

With that, I'd like to now turn the call over to Brian.

現在，我想將電話轉給布萊恩。

Thanks, John.

謝謝，約翰。

Hi, everyone.

大家好。

We appreciate you joining the call as we begin on slide 4.

我們感謝您加入我們從投影片 4 開始的電話會議。

Team CSG finished a record-setting 2023 with a strong fourth quarter.

CSG 隊以強勁的第四季度成績結束了創紀錄的 2023 年。

We posted 7.3% year-over-year revenue growth in 2023, all coming from organic growth.

我們公佈 2023 年營收年增 7.3%，全部來自有機成長。

Our performance this year was the best annual result in nearly two decades.

我們今年的業績是近二十年來最好的年度業績。

Our full year non-GAAP adjusted operating margin was 17.2%, which is a significant improvement over the 16.6% we reported in 2022, proving our ability and our commitment to consistently expand CSG's operating leverage with disciplined execution.

我們全年非 GAAP 調整後營業利潤率為 17.2%，比我們 2022 年報告的 16.6% 有了顯著改善，證明了我們透過嚴格執行不斷擴大南玻集團經營槓桿的能力和承諾。

Another highlight of the year was our strong 2023 free cash flow performance, especially during Q4.

今年的另一個亮點是我們 2023 年強勁的自由現金流表現，尤其是在第四季。

For the year, we generated $104 million in free cash flow, including over $74 million in Q4 -- our best quarterly free cash flow performance on record.

今年，我們產生了 1.04 億美元的自由現金流，其中第四季度超過 7,400 萬美元，這是我們有史以來最好的季度自由現金流表現。

At the end of the day, our faster revenue growth is fueled by strong ongoing market demand for CSG's industry-leading SaaS products and good sales performance across all areas of our business.

歸根結底，我們更快的收入成長得益於市場對 CSG 行業領先的 SaaS 產品的強勁持續需求以及我們所有業務領域良好的銷售業績。

CSG's sales pipeline is large and healthy, as we win and wow big new customers in a wide variety of faster growth industry verticals.

CSG 的銷售管道龐大且健康，因為我們在各種快速成長的垂直行業中贏得並贏得了大新客戶。

Another important topic I want to touch on is our belief that diverse companies who care about sustainability perform better and consistently deliver better results.

我想談的另一個重要議題是我們相信，關心永續發展的多元化公司會表現得更好，並持續交付更好的成果。

At CSG we believe that good people and high-integrity companies can and should finish first.

在CSG，我們相信優秀的人和高度誠信的公司能夠而且應該先完成任務。

In December, we announced our official carbon commitment as we strive to be carbon neutral in both Scope 1 and Scope 2 emissions by 2035.

12 月，我們宣布了官方碳承諾，力爭到 2035 年實現範圍 1 和範圍 2 排放的碳中和。

In 2023, we issued our inaugural Impact Report, which showcases our initiatives around ESG, diversity, inclusion, and global community impact.

2023 年，我們發布了首份影響報告，展示了我們圍繞 ESG、多元化、包容性和全球社群影響力的舉措。

In our increased disclosures, especially with our annual SASB and TCFD reports are moving the needle from an ESG rating agency perspective.

我們不斷增加揭露，特別是我們的年度 SASB 和 TCFD 報告，從 ESG 評級機構的角度來看，情況正在改變。

In April, we received our second consecutive Prime rating from ISS, which means that CSG is in the top 20% of its software peers when it comes to quality ESG disclosure.

4 月份，我們連續第二次獲得 ISS 的 Prime 評級，這意味著 CSG 在 ESG 揭露品質方面處於軟體同業前 20% 之列。

Additionally, we received a AA rating from MSCI -- a step up from the BBB rating we received two years ago.

此外，我們還獲得了 MSCI 的 AA 評級，較兩年前的 BBB 評級有所提升。

And we recently ranked in the top 10% of our software peers according to Sustainalytics and top 25% of all publicly rated companies according to S&P's CSA ESG framework.

最近，根據 Sustainalytics 的數據，我們在軟體同行中排名前 10%，根據標準普爾的 CSA ESG 框架，我們在所有公開評級公司中排名前 25%。

As we look ahead, we will continue to focus on our corporate responsibility commitments as we believe our culture first, people first approach is a key differentiator for us.

展望未來，我們將繼續專注於我們的企業責任承諾，因為我們相信我們的文化第一、以人為本的方法是我們的關鍵差異化因素。

A talented and inspired CSG workforce in turn then make CSG more value-adding and easier to do business with than our competitors as we solve our customers' toughest business challenges with our mission-critical enterprise SaaS products.

隨著我們透過任務關鍵型企業 SaaS 產品解決客戶最棘手的業務挑戰，才華橫溢、富有靈感的 CSG 員工隊伍反過來又使 CSG 比我們的競爭對手更具附加價值，更容易開展業務。

We look forward to sharing our continued progress in the quarters and years ahead on this important journey.

我們期待分享我們在未來幾季和幾年中在這一重要旅程中不斷取得的進展。

With regards to share buybacks, we repurchased $117 million of stock during 2023.

在股票回購方面，我們在 2023 年回購了 1.17 億美元的股票。

Looking forward, we will continue to opportunistically repurchase shares through the end of 2024 with the expectation that at minimum, we will buy back enough shares to offset employee stock compensations, with the opportunity to buyback more than this when we believe it will create greater shareholder value.

展望未來，我們將繼續擇機回購股票，直至 2024 年底，預計我們將至少回購足夠的股票來抵消員工股票薪酬，當我們相信這將創造更大的股東時，我們有機會回購更多股票價值。

On dividends, we are pleased to announce that we will be increasing our dividend by 7%, to $1.20 per year, paid in quarterly increments.

關於股息，我們很高興地宣布，我們將把股息提高 7%，達到每年 1.20 美元，並按季度遞增。

This marks our eleventh consecutive annual increase and underpins our dedication to a friendly shareholder return policy.

這標誌著我們連續第十一次年度成長，並鞏固了我們致力於友善的股東回報政策。

And our 2024 guidance should prove to receive CSG's strong business momentum continuing into the new year.

我們的 2024 年指引應該會證明南玻集團在新的一年將保持強勁的業務勢頭。

We expect organic revenue growth to be above the midpoint of our long-term 2% to 6% range with revenue of $1.2 billion to $1.24 billion this year.

我們預計今年的有機收入成長將高於我們長期 2% 至 6% 範圍的中點，營收為 12 億美元至 12.4 億美元。

Further, we foresee profitability as measured by our adjusted operating margin percentage remaining strong with a range of 17% to 17.4%.

此外，我們預計以調整後營業利潤率衡量的獲利能力將保持強勁，介於 17% 至 17.4% 之間。

This highlights team CSG dual commitment to both accelerate organic revenue growth in the mid-single digit range, while continuously expanding our profitability and free cash flow generation.

這突顯了 CSG 團隊的雙重承諾，即加速有機收入成長至中個位數範圍，同時不斷擴大我們的獲利能力和自由現金流的產生。

I will go into more details in our full year 2024 guidance outlook, but investors can be confident that CSG leadership team is laser focused on turning good revenue growth into strong profitability, and then converting that good profitability into constantly improving free cash flow.

我將在2024 年全年指引展望中詳細介紹，但投資者可以相信，南玻領導團隊專注於將良好的收入增長轉化為強勁的盈利能力，然後將良好的盈利能力轉化為不斷改善的自由現金流。

Turning to slide 5, I will reiterate the four strategic objectives that will help CSG create greater shareholder value and allow followers of our story to track our progress.

轉向投影片 5，我將重申四個策略目標，這些目標將幫助南玻集團創造更大的股東價值，並讓我們故事的追隨者追蹤我們的進展。

As I just shared, CSG aspires to deliver long-term organic revenue growth in the 2% to 6% range, striving to consistently be at or above the midpoint of this range.

正如我剛才所分享的，南玻集團渴望實現 2% 至 6% 範圍內的長期有機收入成長，並努力始終保持或高於該範圍的中點。

The midpoint of our 2024 revenue guidance implies a 4.3% year-over-year organic growth rate with any disciplined M&A deals that we closed then accelerating our revenue growth even more.

我們 2024 年收入指引的中點意味著，我們完成的任何嚴格的併購交易將實現 4.3% 的同比有機成長率，從而進一步加速我們的收入成長。

We aim to add operating scale and expand our operating leverage by growing revenue to $1.5 billion by year end 2025, with bottom line growing as fast or faster than top-line growth.

我們的目標是到 2025 年底將營收增加到 15 億美元，從而擴大營運規模並擴大營運槓桿，利潤成長速度與營收成長速度相同或更快。

This scale will come from a combination of good organic revenue and sales growth, combined with disciplined inorganic moves.

這一規模將來自於良好的有機收入和銷售成長，以及嚴格的無機措施的結合。

Our third strategic imperative is to be the number one SaaS provider of choice for global communication service providers, by providing the most value adding technology platforms and by helping our customers make more money in the digital world.

我們的第三個策略要務是透過提供最具附加價值的技術平台並幫助我們的客戶在數位世界中賺更多錢，成為全球通訊服務供應商首選的第一大 SaaS 供應商。

And finally, we plan to diversify revenue even more, as we win big and faster growth industry verticals like retail; government; financial services; healthcare; technology; and more.

最後，我們計劃進一步實現收入多元化，因為我們贏得了零售業等規模大且成長更快的垂直產業；政府;金融服務;衛生保健;技術;和更多。

Moving to slide 6, you can see that we delivered against all four objectives with our excellent results in 2023.

轉到投影片 6，您可以看到我們在 2023 年以優異的成績實現了所有四個目標。

On strategic revenue growth, we reported a record-setting $1.169 billion of revenue in 2023, resulting in 7.3% year-over-year growth -- our best full year result in nearly 20 years.

在策略收入成長方面，我們報告 2023 年營收達到創紀錄的 11.69 億美元，年成長 7.3%，這是我們近 20 年來最好的全年業績。

On the right hand side of slide 6, we believe that CSG's high recurring revenue SaaS business model and our strong healthy balance sheet make us an attractive investment.

在投影片 6 的右側，我們相信 CSG 的高經常性收入 SaaS 業務模式和我們強大健康的資產負債表使我們成為一項有吸引力的投資。

By 2025, we aspire to gain scale in the markets where we compete and generate $1.5 billion in annual revenue, which implies the CSG will have added over $500 million in profitable recurring revenue from 2020 to 2025.

到2025 年，我們希望在我們競爭的市場中擴大規模，並產生15 億美元的年收入，這意味著從2020 年到2025 年，CS​​G 將增加超過5 億美元的獲利性經常性收入。

Over the medium to long term, we aspire to expand CSG's operating leverage, and use our strong balance sheet to deliver non-GAAP EPS growth that meets or exceeds revenue growth.

從中長期來看，我們渴望擴大南玻集團的營運槓桿，並利用我們強大的資產負債表實現非公認會計原則每股收益成長，滿足或超過收入成長。

On this last point, I want to reinforce the key principle for the CSG Board of Directors and management team.

關於最後一點，我想向南玻集團董事會和管理團隊強調這個關鍵原則。

Team CSG will add strategic scale with disciplined M&A that puts a premium on accelerating organic growth; expanding our operating margins and cash generation; and creating greater shareholder value, by paying the right price and extracting the expected M&A synergies inherent in the investment thesis for each acquisition that we close.

CSG 團隊將透過嚴格的併購來擴大策略規模，並專注於加速有機成長；擴大我們的營業利潤和現金生成；透過支付合適的價格並提取我們完成的每筆收購的投資主題中固有的預期併購協同效應，創造更大的股東價值。

Turning to slide 7, we had good success in our goal to be the number one technology provider of choice for communication service providers globally.

轉向投影片 7，我們在成為全球通訊服務供應商首選技術提供者的目標方面取得了巨大成功。

In the first half of 2023, we completed our conversion of 14 million customers from a competitor's platform at Charter.

2023 年上半年，我們在 Charter 上完成了 1,400 萬客戶從競爭對手平台的轉換。

We have long-term contracts with both Charter and Comcast that run through Q1 2028, and year end 2025, respectively.

我們與 Charter 和 Comcast 簽訂了長期合同，合約有效期分別持續到 2028 年第一季和 2025 年底。

And as a reminder, CSG's relationship with Comcast and Charter is on a per customer basis.

需要提醒的是，CSG 與 Comcast 和 Charter 的關係是基於每位客戶的。

This may seem like a minor nuance, but it's a very big distinction for us.

這似乎是一個很小的細微差別，但對我們來說卻是一個非常大的區別。

We know there have been headlines over the last several weeks related to subscriber losses at several of our existing cable broadband customers.

我們知道過去幾週出現了與我們現有的幾個有線寬頻客戶的用戶流失有關的頭條新聞。

It's worth reiterating that we serve over 64 million combined subscribers at Comcast and Charter, and nearly 80 million subscribers across all of North American cable broadband customers, so small changes in subscriber counts do not have a meaningful impact on our business results and growth.

值得重申的是，我們為Comcast 和Charter 的合併用戶超過6,400 萬，以及所有北美有線寬頻客戶的近8,000 萬用戶提供服務，因此用戶數量的微小變化不會對我們的業務成果和成長產生有意義的影響。

It should also be noted that CSG grew our combined revenue 5% year-over-year at our two largest customers in 2023.

還應該指出的是，2023 年，南玻集團在兩個最大客戶的合併收入比去年同期成長了 5%。

And even as our revenue grew nicely this year at these industry-leading customers, the revenue concentration from Comcast and Charter dropped to less than 40% of our total revenue for the first time in the last two decades.

儘管我們今年在這些行業領先客戶的收入成長良好，但來自 Comcast 和 Charter 的收入集中度在過去二十年來首次下降到我們總收入的 40% 以下。

CSG's improving revenue diversification and faster revenue growth is a testament to our success in winning many big new logo sales deals in other parts of our business; continued expansion of our business with existing customers all around the world; and our success in diversifying into big, exciting and faster growth industry verticals.

CSG 不斷改善的收入多元化和更快的收入成長證明了我們在其他業務領域成功贏得了許多大型新標誌銷售交易；持續拓展我們與世界各地現有客戶的業務；以及我們在多元化發展到大型、令人興奮且成長更快的垂直行業方面的成功。

On the new wins front, Team CSG was selected to digitally transform an existing cable broadband customer's BSS stacks, simplify their business processes with our agile and cutting edge solutions.

在新的勝利方面，CSG 團隊被選中對現有有線寬頻客戶的 BSS 堆疊進行數位化改造，利用我們靈活且先進的解決方案簡化其業務流程。

As part of this win, we extended and expanded our 10-plus year relationship with this important customer.

作為這場勝利的一部分，我們延長並擴大了與這個重要客戶長達十多年的合作關係。

During 2023, we also announced a great new deal with ATN International, a leading provider of digital infrastructure and communication services.

2023 年，我們也宣布與領先的數位基礎設施和通訊服務供應商 ATN International 達成一項重要的新協議。

Team CSG will modernize their networks with our mediation and roaming settlement products.

CSG 團隊將利用我們的中介和漫遊結算產品實現其網路現代化。

This will enable ATN to automate mediation, and wholesale settlement workflows, and access real-time performance data to better align resources and to more quickly react to changing business needs.

這將使 ATN 能夠自動化調解和批發結算工作流程，並存取即時績效數據，以更好地調整資源並更快地對不斷變化的業務需求做出反應。

Outside of North America, we continued to win more business in the wireless telecom market.

在北美以外，我們繼續在無線電信市場贏得更多業務。

In fact, over the last three years, Our strategy of extending our cable, telecom, and wireless business globally is paying off big time.

事實上，在過去三年中，我們在全球擴展有線、電信和無線業務的策略正在取得巨大回報。

Over that period, we have added 16 exciting new logo sales wins and expanded our business with an additional 35 existing customers.

在此期間，我們增加了 16 個令人興奮的新徽標銷售勝利，並擴大了我們的業務，新增了 35 個現有客戶。

Specifically in 2023, we expanded our engagement with one of the top telecom operators in Saudi Arabia.

特別是在 2023 年，我們擴大了與沙烏地阿拉伯頂級電信業者之一的合作。

Team CSG was trusted to consolidate this customer's fragmented legacy BSS solution into a modern unified platform.

CSG 團隊值得信賴，能夠將該客戶分散的遺留 BSS 解決方案整合到一個現代化的統一平台中。

Our solution will reduce this customer's BSS complexity, improve time to market with new product offers, and enhance the efficiency of their business operations.

我們的解決方案將降低該客戶的 BSS 複雜性，縮短新產品的上市時間，並提高其業務營運效率。

During the first quarter, we also expanded our relationship with a leading telecom operator in Latin America and the Caribbean.

在第一季度，我們也擴大了與拉丁美洲和加勒比地區一家領先電信營運商的關係。

We are now helping this business with our digital customer engagement needs.

我們現在正在幫助該企業滿足數位客戶參與需求。

Our solution will help this customer reduce costs, and standardize their digital experience across the dozens of countries in which it operates.

我們的解決方案將幫助該客戶降低成本，並標準化其在其營運的數十個國家/地區的數位體驗。

And in Q2 2023, we announced a fantastic new deal with PLDT, the Philippines' largest fully integrated wireless operator.

2023 年第二季度，我們宣布與菲律賓最大的完全整合無線營運商 PLDT 達成一項出色的新協議。

PLDT is expanding its two decade partnership with CSG as it embraces the power of the cloud to bring its wireless business into the future, and transform its customer experience, particularly for its enterprise unit.

PLDT 正在擴大與 CSG 長達二十年的合作關係，利用雲端的力量將其無線業務帶入未來，並改變其客戶體驗，尤其是其企業部門的客戶體驗。

Plus, this is the latest example of us serving customers in an environment of their choice, this one in Amazon Web Services cloud-based environment.

另外，這是我們在客戶選擇的環境（基於 Amazon Web Services 雲端的環境）中為客戶提供服務的最新範例。

Also in July, we announced the completion of our digital BSS transformation project with Airtel Africa -- a leading telecommunications and mobile money service provider with close to 140 million wireless subscribers across 14 countries in Africa. with CSG's unified revenue management solution, Airtel Africa is primed to streamline processes across its business, minimize cost, and shorten time to market while delivering digital experiences that drives customer loyalty and sustainable business growth.

同樣在 7 月，我們宣布完成與 Airtel Africa 的數位 BSS 轉型專案。Airtel Africa 是一家領先的電信和行動貨幣服務供應商，在非洲 14 個國家擁有近 1.4 億無線用戶。透過 CSG 的統一營收管理解決方案，Airtel Africa 已準備好簡化整個業務流程、最大限度地降低成本並縮短上市時間，同時提供可提高客戶忠誠度和可持續業務成長的數位體驗。

In the fall, we won a great new logo with M1, one of the leading mobile carriers in Singapore.

今年秋天，我們與新加坡領先的行動營運商之一 M1 一起贏得了一個出色的新徽標。

CSG was selected to modernize their B2B BSS stack.

CSG 被選中對其 B2B BSS 堆疊進行現代化改造。

And importantly, this deal highlights the strength of CSG solutions as we are replacing our main competitor.

重要的是，這項交易凸顯了 CSG 解決方案的實力，因為我們正在取代我們的主要競爭對手。

And we have strong sales pipeline in the global telecom market that will position CSG well to announce more exciting new logo sales wins in 2024.

我們在全球電信市場擁有強大的銷售管道，這將使 CSG 能夠在 2024 年宣布更多令人興奮的新標誌銷售勝利。

Turning to slide 8, since 2017, we have diversified our revenue coming from exciting new industry verticals from 7% of total 2017 revenue, to 28% of our 2023 revenue -- a fantastic accomplishment in a relatively short period of time.

轉向幻燈片8，自2017 年以來，我們將來自令人興奮的新垂直行業的收入多元化，從佔2017 年總收入的7% 增加到佔2023 年收入的28%，這是在相對較短的時間內所取得的一項了不起的成就。

We are the partner of choice for big brands in higher growth industry verticals where we help our customers digitize and monetize their customer experience and provide them with cutting edge integrated payments solutions.

我們是高成長垂直產業中大品牌的首選合作夥伴，幫助客戶實現客戶體驗數位化和貨幣化，並為他們提供尖端的整合支付解決方案。

And during 2023, both solutions delivered good double digit organic revenue growth, and continue to be game changers for both CSG and our customers.

2023 年，這兩種解決方案都實現了兩位數的有機收入成長，並繼續改變 CSG 和我們客戶的遊戲規則。

During the year, we won a good contract expansion with Safe Harbor Marinas, which is the largest Marina management company in the United States.

年內，我們與美國最大的碼頭管理公司 Safe Harbor Marinas 簽訂了良好的擴建合約。

Specifically, Team CSG is supporting Safe Harbor Marinas with their digital operations, including new go-to-market offerings.

具體來說，CSG 團隊正在支持 Safe Harbor Marinas 的數位化運營，包括新的上市產品。

This is another example of how our digital customer experience suite of products is finding use cases across multiple industry verticals.

這是我們的數位客戶體驗產品套件如何跨多個垂直行業尋找用例的另一個例子。

Another nice win was with NRC Health, one of the nation's largest health care performance improvement firms, supporting more than 7,000 organizations.

另一個不錯的勝利是與 NRC Health 合作，它是美國最大的醫療保健績效改進公司之一，為 7,000 多個組織提供支援。

We are enabling NRC to execute digital multichannel communication strategy in a streamlined, effective, and scalable manner.

我們使 NRC 能夠以精簡、有效和可擴展的方式執行數位多通路通訊策略。

We also won a good contract with a bundled utility service provider for municipal and private utilities to support various customer engagement initiatives.

我們還與市政和私人公用事業的捆綁公用事業服務提供者簽訂了一份良好的合同，以支持各種客戶參與計劃。

This deal expands our footprint in the utility industry.

這項交易擴大了我們在公用事業的足跡。

Further, during the year, we significantly expanded our customer experience business with one of the world's leading technology firms.

此外，在這一年中，我們與世界領先的技術公司之一顯著擴展了我們的客戶體驗業務。

We are deploying our AI powered digital CX solutions to provide their customer self-service capabilities in the voice channel in every country where this company operates.

我們正在部署人工智慧驅動的數位客戶體驗解決方案，以便在該公司營運的每個國家/地區透過語音管道為客戶提供自助服務功能。

This is an excellent example of how CSG's AI-driven digital CX SaaS platform helps big exciting brands, improve customer experience, and save operating costs.

這是 CSG 人工智慧驅動的數位 CX SaaS 平台如何幫助令人興奮的大品牌、改善客戶體驗並節省營運成本的絕佳範例。

And finally, in the fourth quarter, we won a fantastic new Ascend deal with one of the largest banks in APAC with business operations across multiple countries.

最後，在第四季度，我們與亞太地區最大的銀行之一贏得了出色的新 Ascend 交易，該銀行在多個國家/地區開展業務。

This customer provides a variety of financial services, including retail business and institutional banking; funds management; insurance; and brokerage services.

該客戶提供多種金融服務，包括零售業務和機構銀行業務；資金管理；保險;和經紀服務。

What is truly phenomenal about this deal is it marks the first time we've sold our Ascendon SaaS monetization products to a large financial institution.

這筆交易的真正驚人之處在於，它標誌著我們第一次向大型金融機構出售我們的 Ascendon SaaS 貨幣化產品。

Specifically, we will be transforming their fragmented billing and pricing systems into a unified solution powered by CSG's Ascendon product.

具體來說，我們將把他們分散的計費和定價系統轉變為由 CSG 的 Ascendon 產品提供支援的統一解決方案。

CSG Ascendon will help minimize billing errors; mitigate revenue leakage; improve the customer and employee experience; and significantly decrease their time to market with new products and services as we digitally transform their BSS platform.

CSG Ascendon 將有助於最大限度地減少計費錯誤；減少收入流失；改善客戶和員工體驗；隨著我們對他們的 BSS 平台進行數位化改造，他們的新產品和服務的上市時間將大大縮短。

In the payments market, we closed 2023 with record organic revenue growth in this part of our business with strong double digit revenue growth, which is a testament to our industry-leading SaaS integrated payments platform.

在支付市場，我們在 2023 年結束時實現了創紀錄的有機收入增長，這部分業務的收入增長強勁，達到兩位數，這證明了我們行業領先的 SaaS 集成支付平台。

We now provide award-winning payments solutions to 114,000 active merchants and ISV partners, which represents a 16,000 increase, or a 16% year-over-year growth from the 98,000 active merchants we served at the end of 2022.

我們現在為 114,000 家活躍商家和 ISV 合作夥伴提供屢獲殊榮的支付解決方案，較 2022 年底我們服務的 98,000 家活躍商家增加了 16,000 家，即同比增長 16%。

Our solutions are critical to customers who need ACH, credit card payment gateway, and payment processing capabilities serving a wide range of recurring revenue industry verticals.

我們的解決方案對於需要 ACH、信用卡支付網關和支付處理功能來服務廣泛的經常性收入行業垂直領域的客戶至關重要。

We continue to see a big runway for growth for this business, and we believe we have a good chance to accelerate organic revenue growth even faster in 2024 and beyond.

我們繼續看到該業務有廣闊的成長空間，我們相信我們有很好的機會在 2024 年及以後更快地加速有機收入成長。

I will wrap up on slide 9 before turning it over to Hai.

我將在將幻燈片 9 交給 Hai 之前對其進行總結。

Simply put, CSG delivered record-setting results in 2023.

簡而言之，CSG 在 2023 年取得了創紀錄的表現。

We continue to win fantastic new customer logos quarter in quarter out.

我們不斷贏得精彩的新客戶商標。

We continue to innovate with industry-leading AI-driven SaaS solutions that big brands all around the world are buying to solve some of their most pressing business challenges.

我們繼續利用業界領先的人工智慧驅動的 SaaS 解決方案進行創新，世界各地的大品牌都在購買這些解決方案來解決一些最緊迫的業務挑戰。

We continued to diversify our business with 28% of revenue coming from big, faster-growing industry verticals like healthcare, financial services, retail, tech, and government.

我們持續實現業務多元化，28% 的收入來自醫療保健、金融服務、零售、科技和政府等大型、成長較快的垂直產業。

And we continue to demonstrate our commitment to run our business more efficiently as we consistently improve non-GAAP adjusted operating margins and free cash flow generation.

我們不斷提高非公認會計原則調整後的營業利潤率和自由現金流生成，從而繼續反映我們對更有效率地經營業務的承諾。

So our message to our three key stakeholders are clear.

因此，我們向三個主要利害關係人傳達的訊息是明確的。

To employees, CSG's best days and biggest breakthroughs are still ahead of us.

對員工來說，南玻最好的日子、最大的突破還在前方。

We will keep dreaming big and demanding even more from our collective global talent as we do whatever it takes to turn our giant dreams into reality.

我們將繼續懷抱遠大夢想，並對我們的全球人才提出更高的要求，並盡一切努力將我們的宏偉夢想變成現實。

To customers, CSG is here for you.

對於客戶，CSG 隨時為您服務。

We are dedicated to being easier to do business with than any of our competitors, while solving your toughest business and technology-related challenges.

我們致力於比任何競爭對手更容易開展業務，同時解決您最棘手的業務和技術相關挑戰。

We thank you for your continued trust in us.

我們感謝您對我們的持續信任。

To shareholders, CSG's transformation is just getting started.

對股東來說，南玻集團的轉型才剛開始。

Faster recurring revenue growth, improved operating leverage, more free cash flow generation, and exciting industry vertical diversification are what this management team and our Board of Directors will hold ourselves accountable to, and we will deal with the high integrity, focused execution and good governance that you have always expected from CSG.

更快的經常性收入成長、改善的營運槓桿、更自由的現金流產生以及令人興奮的行業垂直多元化是我們的管理團隊和董事會將要對自己負責的目標，我們將高度誠信、專注執行和良好治理這是您對 CSG 一直以來的期望。

With that, I will turn it over to Hai.

這樣，我就把它交給海。

Thanks Brian.

謝謝布萊恩。

Let's walk through 2023 financial results, and then I'll wrap it up with some key conclusions.

讓我們來看看 2023 年的財務業績，然後我將總結一些關鍵結論。

Starting on slide 11, we generated $1.169 billion of revenue, which represents 7.3% year-over-year growth.

從幻燈片 11 開始，我們創造了 11.69 億美元的收入，年增 7.3%。

For the year, the increase in revenue was primarily attributed to the continued growth of CSG's revenue management solutions, including the conversion of customer accounts onto CSG solutions, strong year-over-year growth in our digital customer experience solutions and increased payments volumes.

今年，營收的成長主要歸因於CSG收入管理解決方案的持續成長，包括將客戶帳戶轉換為CSG解決方案、我們的數位客戶體驗解決方案較去年同期強勁成長以及支付量增加。

As we mentioned on our Q1 earnings call, some of the revenue uplift we recognized in Q1 was related to the timing of certain license-oriented deals moving from Q4 2022 into Q1 of 2023, and the growth we got in 2023 from converting certain subscribers off of a competitor at Charter.

正如我們在第一季財報電話會議上所提到的，我們在第一季認識到的部分營收成長與某些以授權為導向的交易從2022 年第四季轉移到2023 年第一季的時間有關，以及我們在2023 年透過轉換某些訂戶而獲得的成長Charter 的競爭對手的照片。

When excluding both of these items, our year-over-year revenue growth rate would have been towards the top end of our long-term organic revenue growth range of 2% to 6%.

如果排除這兩項，我們的年比收入成長率將接近我們長期有機收入成長範圍 2% 至 6% 的上限。

Our 2023 non-GAAP operating income was $186 million, or a non-GAAP adjusted operating margin of 17.2%.

我們 2023 年的非 GAAP 營業收入為 1.86 億美元，非 GAAP 調整後營業利潤率為 17.2%。

It compares to $169 million or 16.6% in the prior year.

相比之下，去年為 1.69 億美元，即 16.6%。

The growth in non-GAAP operating income and non-GAAP adjusted operating income margin percentage for the full year period was driven by higher revenue growth and improved profitability.

全年非公認會計原則營業收入和非公認會計原則調整後營業利潤率的增長是由收入增長加快和盈利能力提高所推動的。

Moving on, our non-GAAP adjusted EBITDA was $243 million for 2023, our 22.4% of revenue, excluding transaction fees, as compared to $226 million or 22.3% in the prior year.

接下來，我們 2023 年的非 GAAP 調整後 EBITDA 為 2.43 億美元，佔營收的 22.4%（不含交易費用），而前一年為 2.26 億美元，佔營收的 22.3%。

Lastly, our 2023 non-GAAP EPS was $3.69, a 2.2% year over year increase as compared to $3.61 in the prior year.

最後，我們 2023 年非 GAAP 每股收益為 3.69 美元，較前一年的 3.61 美元年增 2.2%。

The increase in non-GAAP EPS is mainly due to higher operating income and to a lesser degree, share repurchases, partially offset by higher interest rate expense and adverse foreign currency movements.

非公認會計原則的每股盈餘增加主要是由於營業收入的增加以及較小程度的股票回購，但部分被較高的利率費用和不利的外匯變動所抵銷。

Turning to slide 12, I'll go through the balance sheet, our cash flow generation, and shareholder returns.

前往投影片 12，我將詳細介紹資產負債表、現金流量產生和股東回報。

Our 2023 cash flow from operations was $132 million as compared to $64 million in the prior year.

我們 2023 年的營運現金流為 1.32 億美元，而前一年為 6,400 萬美元。

Further, we had non-GAAP free cash flow of $104 million in 2023, as compared to $27 million of free cash flow generated in 2022.

此外，2023 年我們的非 GAAP 自由現金流為 1.04 億美元，而 2022 年的自由現金流為 2,700 萬美元。

A primary driver of this increased cash flow performance was favorable working capital change.

現金流績效增加的主要驅動力是有利的營運資本變動。

Specifically in Q4, we generated $74 million of free cash flow, which represents our strongest quarterly free cash flow performance on record.

特別是在第四季度，我們產生了 7,400 萬美元的自由現金流，這是我們有史以來最強勁的季度自由現金流表現。

The primary driver of this performance was positive working capital items, including increased intensity regarding management of our accounts receivable collections.

這項績效的主要驅動力是積極的營運資本項目，包括加強應收帳款催收管理。

I want to reiterate that this management team is committed to identifying opportunities for improvement, transparently owning up to them, and then rapidly driving enhanced performance.

我想重申，這個管理團隊致力於發現改進的機會，透明地承認這些機會，然後迅速推動績效的提升。

As we have previously mentioned, our non-GAAP free cash flow performance in 2022 was not up to our expectations, and we are starting to bear the fruit of the specific actions that the CSG leadership team implemented to address those challenges.

正如我們之前提到的，我們 2022 年的非公認會計原則自由現金流表現未達到我們的預期，而我們正開始結出南玻領導團隊為應對這些挑戰而採取的具體行動的成果。

Similarly, when our profitability was below our expectations in the first half of 2022, again, CSG management quickly implemented our operating margin initiatives in Q2 of 2022, which continues to benefit our shareholders, with 2023 operating margins coming in strong at 17.2%.

同樣，當我們在2022 年上半年的盈利能力再次低於我們的預期時，南玻管理層在2022 年第二季度迅速實施了我們的營業利潤率計劃，這繼續使我們的股東受益，2023 年營業利益率強勁達到17.2%。

Put simply, when we see ways to enhance our operating and financial performance, we nimbly and aggressively implement the needed improvements in order to create more shareholder value.

簡而言之，當我們找到提高營運和財務表現的方法時，我們會靈活且積極地實施所需的改進，以創造更多的股東價值。

Moving on, with respect to our balance sheet, we executed a very successful convertible debt deal in September.

接下來，就我們的資產負債表而言，我們在 9 月執行了一項非常成功的可轉換債務交易。

This deal delivers multiple benefits, including lowering our interest rates, freeing up our revolver for future M&A, and giving our balance sheet a better mix of fixed and floating rate debt.

這筆交易帶來了多重好處，包括降低我們的利率、為未來的併購釋放我們的左輪手槍，以及讓我們的資產負債表更好地組合固定利率和浮動利率債務。

Plus equity shareholders will experience no equity dilution until our share price reaches approximately $96.50.

另外，在我們的股價達到約 96.50 美元之前，股權股東不會經歷股權稀釋。

As a reminder, we raised $425 million of convertible debt with a 3.875% coupon and repaid $275 million on our revolver.

提醒一下，我們籌集了 4.25 億美元的可轉換債券，票面利率為 3.875%，並償還了 2.75 億美元的左輪手槍。

Further, we ended the fourth quarter with $186 million of cash and cash equivalents that along with our outstanding debt at December 31, 2023, resulted in $372 million of net debt, and our net debt leverage ratio sits at 1.5 times adjusted EBITDA.

此外，第四季結束時，我們擁有1.86 億美元的現金和現金等價物，加上截至2023 年12 月31 日的未償債務，淨債務達到3.72 億美元，我們的淨債務槓桿率為調整後EBITDA 的1.5 倍。

Moving to the bottom right of the slide, we declared $34 million in dividends during 2023.

轉到幻燈片的右下角，我們宣布 2023 年股息為 3400 萬美元。

In addition, we repurchased $117 million in stock during 2023 under our stock repurchase program.

此外，我們在 2023 年根據股票回購計畫回購了 1.17 億美元的股票。

Turning the page, I will lay out our 2024 guidance.

翻過這一頁，我將列出我們的 2024 年指導方針。

Starting with the top line.

從頂線開始。

We expect our organic revenue before the impact of any acquisitions to range from $1.2 billion to $1.24 billion and transaction fees to range from $98 million to $103 million.

我們預計，在任何收購影響之前，我們的有機收入將在 12 億美元至 12.4 億美元之間，交易費用將在 9,800 萬美元至 1.03 億美元之間。

We are currently forecasting our first half 2024 revenue to make up approximately 48% to 49% of our full year revenue.

我們目前預測 2024 年上半年的收入將佔全年收入的約 48% 至 49%。

While we expect 51% to 52% of our revenue to be generated in the second.

而我們預計 51% 至 52% 的營收將在第二季產生。

As a reminder, our strong revenue and profitability in Q1 of 2023 was enhanced by highly profitable, one-time licensing revenues which we generated from a deal with our global telecommunications customers.

提醒一下，我們在 2023 年第一季的強勁收入和盈利能力得益於我們與全球電信客戶達成的交易中獲得的高利潤一次性許可收入。

As such, we do not expect this revenue to recur in Q1 of 2024, which will temporarily distort our revenue and profitability comparisons on a year-over-year basis for the first quarter

因此，我們預計該收入不會在 2024 年第一季出現，這將暫時扭曲我們第一季的營收和獲利能力的年比比較

(sic - see slide 13, "full year").

（原文如此 - 請參閱投影片 13，「全年」）。

We also expect our non-GAAP adjusted operating margin percentage to range between 17% to 17.4%, which represents a meaningful increase from the 16.5% to 17% range from our original 2023 guidance.

我們也預期我們的非 GAAP 調整後營業利潤率百分比將在 17% 至 17.4% 之間，這比我們最初的 2023 年指引的 16.5% 至 17% 範圍顯著增加。

We believe this non-GAAP adjusted operating margin guidance range, demonstrates Team CSG's commitment to consistently expanding on our operating leverage with improved profitability.

我們相信，這項非 GAAP 調整後營業利潤率指引範圍體現了 CSG 團隊致力於不斷擴大我們的營業槓桿並提高盈利能力的承諾。

On the next metrics, we anticipate our non-GAAP EPS to range between $3.85 to $4.15 based on a non-GAAP tax rate of approximately 29%, and a share count of approximately 29 million shares for the year.

在接下來的指標中，我們預計我們的非 GAAP 每股盈餘將在 3.85 美元至 4.15 美元之間，基於約 29% 的非 GAAP 稅率和今年約 2,900 萬股的股票數量。

Moving on, non-GAAP adjusted EBITDA is expected to range between $245 million to $255 million, and finally, we expect the range of non-GAAP free cash flow to be $95 million to $135 million with a guidance range midpoint of $115 million.

接下來，非 GAAP 調整後 EBITDA 預計在 2.45 億美元至 2.55 億美元之間，最後，我們預計非 GAAP 自由現金流範圍為 9,500 萬美元至 1.35 億美元，指引中點為 1.15 億美元。

Additionally, we expect capital expenditures to come in between $25 million to $35 million.

此外，我們預計資本支出將在 2,500 萬至 3,500 萬美元之間。

Wrapping up, CSG will continue to relentlessly prioritize every investment we make, and stay disciplined in the allocation of resources and the use of capital.

總而言之，南玻集團將繼續堅持不懈地優先安排我們的每項投資，並嚴格控制資源配置和資本使用。

Innovation, including how we leverage the transformative power of AI across CSG, and the adherence to the risk reward framework with continuous learning, are key cornerstones of how we manage the business.

創新，包括我們如何在整個 CSG 中利用人工智慧的變革力量，以及透過持續學習堅持風險回報框架，是我們管理業務的關鍵基石。

CSG is well positioned with a strong sales pipeline, and a high quality recurring revenue customer base.

CSG 擁有強大的銷售管道和高品質的經常性收入客戶群，並處於有利位置。

We remain committed to accelerating and diversifying our revenue growth, which may include closing and integrating disciplined value-adding acquisitions.

我們仍然致力於加速收入成長並使其多元化，其中可能包括完成和整合嚴格的增值收購。

We believe this approach, combined with our consistent capital distribution, will serve our shareholders well.

我們相信，這種方法與我們一致的資本分配相結合，將為我們的股東帶來良好的服務。

With that, I'll turn it over to the operator to facilitate the question and answer session.

這樣，我會將其移交給操作員以方便問答環節。

Thank you.

謝謝。

(Operator Instructions)

（操作員說明）

Maggie Nolan, William Blair.

瑪吉諾蘭、威廉布萊爾。

Hi, thank you.

嗨，謝謝你。

So you highlighted -- and you have in the past as well -- the significant vertical diversification that you've been able to achieve over the last five years or so.

因此，您強調了——過去也如此——在過去五年左右的時間裡，您已經實現了重大的垂直多元化。

What is your confidence in the ability to further diversify on an organic basis?

您對在有機基礎上進一步實現多元化的能力有何信心？

As you think about your medium-term base case goals, or are acquisitions a really important part of further diversification from here?

當您考慮中期基本目標時，或者收購是否是進一步多元化的真正重要組成部分？

Yes, hi Maggie, I hope you're doing well.

是的，嗨，瑪吉，我希望你一切都好。

Love the question.

喜歡這個問題。

We are highly confident that we can continue to diversify the revenue into new faster-growing verticals organically.

我們非常有信心能夠繼續將收入有機地多元化到新的、成長更快的垂直領域。

I mean, we continue to report the strong double digit revenue growth; the strong sales bookings; the good, consistent new logo wins coming from both our AI-driven digital CX business, and our North American payments business.

我的意思是，我們繼續報告強勁的兩位數收入成長；強勁的銷售預訂；良好、一致的新標誌來自我們人工智慧驅動的數位客戶體驗業務和北美支付業務。

And we see that continuing with everything that we see in the business.

我們看到這種情況繼續存在於我們在業務中看到的一切。

The win that we announced with a large financial service provider -- one of the leaders in APAC -- which is the first for our cloud-based Ascendon platform to be the digital monetization in the quarter price quote solution for that bank is also a game changer, and will also contribute nicely to the organic growth.

我們宣布與一家大型金融服務提供商（亞太地區的領導者之一）取得勝利，這是我們基於雲端的 Ascendon 平台首次成為該銀行的季度報價解決方案中的數位貨幣化，這也是一場遊戲變革者，也將為有機成長做出巨大貢獻。

And you should see that 28% continue to grow even as the other parts of our business still grow nicely.

您應該看到，儘管我們業務的其他部分仍然成長良好，但 28% 仍在繼續成長。

They'll just grow faster than these other verticals.

他們只會比其他垂直行業成長得更快。

And to your point, we do think that there will continue to be disciplined, attractive, accretive acquisitions that we can do both in the digital CX, and the payments space in the coming quarters and years.

就您的觀點而言，我們確實認為，在未來幾個季度和幾年裡，我們將繼續在數位客戶體驗和支付領域進行有紀律的、有吸引力的、增值性的收購。

That should layer on additional growth on top of the strong organic growth we're seeing.

除了我們看到的強勁有機成長之外，這應該會帶來額外的成長。

That's really helpful, thank you.

這真的很有幫助，謝謝。

And then on the margin range that you gave for the year -- the operating margin range you gave for the year -- can you kind of talk through the puts and takes of what would get the company to the low end versus the high end?

然後，關於您今年給出的利潤範圍——您當年給出的營業利潤範圍——您能否談談如何讓公司達到低端和高端？

Particularly in the context of some of the factors that you -- Hai -- mentioned in your remarks about some of the nonrecurring revenue in the first quarter?

特別是在您——海——在您關於第一季一些非經常性收入的評論中提到的一些因素的背景下？

And maybe think about what it would look like on a quarterly basis as you frame your comments, if you can.

如果可以的話，在您撰寫評論時，也許可以考慮每季會是什麼樣子。

Yes, sure, Maggie.

是的，當然，瑪吉。

One, I think the guidance we gave, you know, hopefully it shows our confidence in continuing that progress towards growing both our revenue as well as expanding our margins over time.

第一，我認為我們給予的指導，你知道，希望它表明我們有信心繼續在增加收入和隨著時間的推移擴大利潤方面取得進展。

We're committed to delivering on those numbers.

我們致力於實現這些數字。

I think that when we think, though, about the lower [side] -- and a lot of that has to do with mix.

我認為，當我們思考較低的[方面]時，其中許多都與混合有關。

It's something I've spoken to quite a bit in the past -- it's the mix of revenue is going to drive effectively that margin profile.

這是我過去多次談論過的事情——收入的組合將有效地推動利潤率的提高。

But in terms of our commitment to creating operating leverage, we've got a pretty disciplined and intentional plan to ensure that our expenses are going to grow at a rate that is less than our revenue growth.

但就我們對創造營運槓桿的承諾而言，我們有一個非常嚴格和有意的計劃，以確保我們的支出成長速度低於收入成長速度。

Maybe the only thing I would add, you mentioned a little bit about quarterly spread.

也許我唯一要補充的是，您提到了一些有關季度利差的內容。

You will see as you heard in Hai's remarks, Maggie, you'll see a more traditional CSG-like spread. 48% to 49% in the first half and then a little stronger a little bit above 51%, 52% in the second half.

你會看到，正如你在 Hai 的言論中聽到的那樣，Maggie，你會看到一種更傳統的 CSG 式傳播。上半年48%到49%，下半年稍微強一點，51%、52%以上。

Therefore, with the mix with the higher revenue growth, you might see a little more profitability even in Q3 and Q4, as what you sometimes have seen with the more historical spreads.

因此，結合較高的收入成長，即使在第三季度和第四季度，您也可能會看到更多的獲利能力，就像您有時在歷史利差更大的情況下看到的那樣。

So we expect strong profitability for all four quarters.

因此，我們預計四個季度的獲利能力都將強勁。

Got it.

知道了。

Thanks.

謝謝。

Thank you, Maggie.

謝謝你，瑪吉。

Matthew Harrigan, Benchmark.

馬修·哈里根，《基準》。

Thank you.

謝謝。

Thanks for the encouraging outlook and the information on all strategic initiatives, but sort of, I guess, mundane -- on Q1, you talked about the difficult comparisons -- licensing internationally and how that really has made this anomaly of being very front-loaded in last year's revenues and margin.

感謝您令人鼓舞的前景和有關所有戰略舉措的信息，但我想，這有點平凡——在第一季度，您談到了困難的比較——國際許可以及這如何真正造成了這種非常前置的異常情況去年的收入和利潤。

Can you more precisely quantify how we should -- how much of that might dampen the year-over-year Q1 comparison?

您能否更準確地量化我們應該如何——其中有多少可能會抑制第一季的年比比較？

Thanks.

謝謝。

Yes, Matt, thanks for the question.

是的，馬特，謝謝你的提問。

So last year, as we as we highlighted throughout the year, we did benefit from a couple of licensing deals that are nonrecurring in nature in Q1.

因此，去年，正如我們全年強調的那樣，我們確實從第一季的幾項非經常性許可交易中受益。

And hence, we had a very strong Q1 last year, but yet there were roughly about $10 million of revenue.

因此，我們去年第一季的業績非常強勁，但營收約為 1,000 萬美元。

And if you think about the margin impact, if we excluded the impact of those licenses in Q1 last year, our effective margin would have been in the mid-16% or 16.5% or so.

如果你考慮利潤率影響，如果我們排除去年第一季這些許可證的影響，我們的有效利潤率將在 16% 或 16.5% 左右。

Okay.

好的。

That's very helpful.

這非常有幫助。

Thank you.

謝謝。

Thank you.

謝謝。

Great.

偉大的。

Thanks, Matt.

謝謝，馬特。

Greg Burns, Sidoti & Company.

格雷格‧伯恩斯 (Greg Burns)，西多蒂公司 (Sidoti & Company)。

Good afternoon.

午安.

So when you when you think about fixed wireless penetration, I know you said it's not really that big of a concern right now, but I think the story at least as far as I understood with the cable operators, was that even though there's cord cutting, broadband is growing, and net subs are growing so that's good for CSG.

因此，當您考慮固定無線滲透時，我知道您說現在這並不是一個大問題，但我認為至少根據我對有線電視運營商的理解，這個故事是，即使存在斷線現象、寬頻正在增長，網路用戶也在成長，對南玻集團來說是件好事。

So I'm just trying to understand why you don't consider maybe a competitive threat to their broadband businesses as maybe a risk?

所以我只是想了解為什麼您不認為對其寬頻業務的競爭威脅可能是一種風險？

And is there other areas where you can diversify within the North American cable market beyond your traditional revenue management solutions to continue to grow revenue even if subscribers are not growing anymore?

除了傳統的收入管理解決方案之外，您還可以在北美有線電視市場多元化，從而在用戶不再成長的情況下繼續增加收入嗎？

Yes.

是的。

Thanks, Greg.

謝謝，格雷格。

Hope you're doing well.

希望你做得很好。

I'm going to give maybe just a couple of data points on why we might believe that there is a fairly significant overreaction to some of this news in the market.

我可能只提供幾個數據點來說明為什麼我們可能認為市場對某些新聞反應相當嚴重。

Data point number one, even as there's been some headwinds with some of our customers on the broadband growth throughout 2023, we saw very good growth from overall revenue.

第一個數據點，儘管我們的一些客戶在 2023 年寬頻成長方面遇到了一些阻力，但我們看到整體收入的成長非常好。

At the corporate level, we even saw big to grow 5% year over year.

在企業層面，我們甚至看到 Big 年成長 5%。

And some of those headwinds were there in the first part and throughout 2023.

其中一些不利因素在上半年和整個 2023 年都存在。

Would be point 1.

就是第1點。

Point 2 is to remember that there is a tiered pricing in this.

第 2 點是要記住，這裡有分級定價。

So as we've talked, we serve 64 million subscribers at Comcast and Charter -- almost 80 million across North American broadband.

正如我們所說，我們為 Comcast 和 Charter 的 6,400 萬用戶提供服務，其中北美寬頻用戶數量接近 8,000 萬。

Those incremental subs at the top of that, our price is at a much lower price point, which is why you did some people ask, why didn't we see even more pickup when we converted 14 million subscribers at Charter?

最重要的是，我們的價格要低得多，這就是為什麼有些人會問，為什麼當我們在 Charter 上轉換 1400 萬訂戶時，我們沒有看到更多的訂閱量？

Therefore, even if there is some impact on the customer, it tends to be a lot smaller than might be modeled or anticipated by some of those players.

因此，即使對客戶有一些影響，它往往比其中一些參與者可能建模或預期的要小得多。

Third, we've done a nice job of just trying to relentlessly bring greater value to all of our big North American cable customers.

第三，我們做得很好，努力不懈地為所有北美有線電視大客戶帶來更大的價值。

We're mission critical.

我們的使命至關重要。

We've picked up a lot of landmass, and there is a sizable footprint in all of these customers.

我們已經佔領了許多土地，所有這些客戶都佔據了相當大的足跡。

Even if they continue to face some headwinds in the coming quarters, we can win and grow in other areas just like we've done pretty consistently over the last several years.

即使他們在未來幾季繼續面臨一些阻力，我們也可以在其他領域取得勝利並實現成長，就像我們在過去幾年中一直在做的那樣。

And then fourth, we tend to just believe we've seen these players, we've served them well for three-plus decades.

第四，我們傾向於相信我們已經見過這些球員，我們已經為他們提供了三十多年的良好服務。

We tend not to underestimate the competitive response of industry leaders like Comcast, Charter, and others.

我們往往不會低估康卡斯特、查特等產業領導者的競爭反應。

And maybe the fifth point is one of our fastest growing areas is in global telecoms, so we also serve multiple players in North America and around the world.

也許第五點是我們成長最快的領域之一是全球電信，因此我們也為北美和世界各地的多個參與者提供服務。

So doesn't mean that there's not some of those headwinds and storm clouds, but like you saw us in 2023, we grew through it extremely well at 7.3% growth -- in the midpoint of our guidance -- even in 2024 is 4.3%.

因此，這並不意味著不存在一些逆風和暴風雨，但就像您在2023 年看到的那樣，我們的成長非常好，成長率為7.3%——處於我們指導方針的中點——即使在2024 年也是4.3% 。

So we don't take it for granted.

所以我們並不認為這是理所當然的。

We got to earn it every day.

我們每天都必須賺錢。

All right, great.

好吧，太好了。

Thanks.

謝謝。

Great.

偉大的。

Thanks, Greg.

謝謝，格雷格。

George Notter, Jefferies.

喬治諾特，傑弗里斯。

Hi, thanks a lot, guys.

嗨，非常感謝，夥計們。

I guess I was just curious about the the progress you guys are making with new products.

我想我只是對你們在新產品方面取得的進展感到好奇。

I was thinking a bit about the Bill Explainer product.

我正在思考比爾解釋器產品。

Obviously AI is going into lots of products across the marketplace.

顯然，人工智慧正在進入市場上的許多產品。

See what can you tell us about anything you're seeing that's new or different there in the last three months?

看看您能告訴我們您在過去三個月中看到的新的或不同的東西嗎？

And then again, progress with Bill Explainer.

然後再一次，與比爾解釋者一起進步。

Thanks.

謝謝。

Yes, David, thanks so much for the question.

是的，大衛，非常感謝你的提問。

Appreciate you joining.

感謝您的加入。

Yes, I mean, we try -- we have mission critical enterprise software, now we've got to keep the lights on and just be flawless in our execution.

是的，我的意思是，我們嘗試過——我們擁有關鍵任務的企業軟體，現在我們必須保持正常運轉，並在執行中完美無瑕。

We got to constantly invest in innovation.

我們必須不斷投資創新。

And so we have made a meaningful investment in AI, the most important areas in our digital CX business, where we announced and launched the Bill Explainer AI.

因此，我們對人工智慧進行了有意義的投資，這是我們數位 CX 業務中最重要的領域，我們在此宣布並推出了 Bill Understandinger AI。

We see good traction both in cable, global telco.

我們看到有線電視和全球電信公司都有良好的吸引力。

We've already sold and won a couple of early deals -- small, but still it shows the power of how you can actually bring value relatively quickly.

我們已經出售並贏得了幾筆早期交易——規模雖小，但仍然顯示瞭如何相對快速地實際帶來價值的力量。

This is a solution that can be deployed in a matter of weeks.

這是一個可以在幾週內部署的解決方案。

And so we also see applicability in other industry verticals -- more subscription economies, even outside of cable and telecom.

因此，我們也看到了其他垂直產業的適用性——更多的訂閱經濟，甚至在有線電視和電信之外。

So we like the building sales pipeline.

所以我們喜歡建立銷售管道。

I'd say we're still in the early days in terms of where that is, but we're super excited about what's going on in that digital CX space.

我想說，我們仍處於早期階段，但我們對數位 CX 領域正在發生的事情感到非常興奮。

We're also leveraging AI in our payments business.

我們也在支付業務中利用人工智慧。

Fraud is one of the biggest areas that most merchants focus on.

詐欺是大多數商家關注的最大領域之一。

It's one of the things we invest a lot in to really reduce the fraud and risk profile.

這是我們投入大量資金以真正減少詐欺和風險的事情之一。

Speed, onboarding of new merchants, and help.

速度、新商家的入職以及幫助。

So we're doing a lot around data and some new solutions with nano-sites and micro-sites to help merchants make it easier to collect the payments and what they have.

因此，我們圍繞著數據和奈米網站和微型網站的一些新解決方案做了很多工作，以幫助商家更輕鬆地收集付款和他們擁有的東西。

And then as you come all the way back to kind of our core monetization, BSS part of the business, working with our telecom, media, cable customers to leverage the data that is in their possession to be able to make it easier to predict what customers want, when they want.

然後，當你一路回到我們的核心貨幣化、BSS 業務部分時，與我們的電信、媒體、有線電視客戶合作，利用他們擁有的數據，能夠更輕鬆地預測什麼客戶想要的時候，他們想要的。

Upgrade, downgrade service; cross-sell; deal with promotion; roll-off; reduce calls to the call center, like the Bill Explainer.

升級、降級服務；交叉銷售;處理晉升事宜；滾下;減少對呼叫中心的呼叫，例如比爾解釋員。

Great opportunities to just expand the value that we bring.

擴大我們帶來的價值的絕佳機會。

So I love what we're seeing on the innovation.

所以我喜歡我們所看到的創新。

We spend a little over 14% of our revenue on R&D.

我們將略高於 14% 的收入用於研發。

So innovation and co-creating with customers, and testing that in the market is a big part of our business model.

因此，創新和與客戶共同創造，並在市場上進行測試是我們商業模式的重要組成部分。

Thank you.

謝謝。

Thanks very much.

非常感謝。

Shlomo Rosenbaum, Stifel.

什洛莫·羅森鮑姆，斯蒂菲爾。

Hi, this is Adam, on for Shlomo.

大家好，我是亞當，為什洛莫發言。

Can you provide an update on what you're seeing on the M&A front?

您能否提供您在併購方面所看到的最新情況？

Are you guys seeing assets with valuations coming more in line with what you'd consider attractive now and just general commentary there?

你們是否認為資產的估值更符合你們現在認為有吸引力的資產，而只是那裡的一般評論？

Thanks.

謝謝。

Yes.

是的。

Thanks so much, Adam, hope you're well.

非常感謝，亞當，希望你一切都好。

We are seeing the market improve on that that there's always going to be some degree of separation, I think between buyers and sellers.

我們看到市場正在改善，我認為買家和賣家之間總是會出現某種程度的分離。

But in general, yes, much more in line than what we saw in the back half of 2022.

但總的來說，是的，比我們在 2022 年下半年看到的情況要好得多。

Definitely much better than what we saw in 2023, and we think that there are deals that can be done.

絕對比我們在 2023 年看到的情況要好得多，而且我們認為可以達成一些交易。

What we've kind of found though, is you just -- with a company our size, you got to constantly be working deal flow.

但我們發現，對於像我們這樣規模的公司，你必須不斷地處理交易流程。

We work with founders.

我們與創辦人合作。

We work with partners.

我們與合作夥伴合作。

We work with maybe larger companies that would be looking at spin outs of smaller assets, maybe it's not core to them.

我們可能與較大的公司合作，這些公司會考慮分拆較小的資產，也許這不是他們的核心。

So we kind of run the gamut from small, mid, and even larger deal size.

因此，我們的交易規模涵蓋從小、中、甚至更大的範圍。

Constantly looking at how do we expand our portfolio capability with recurring revenues around CX payments and monetization scale for telecom, cable, or financial services.

不斷研究如何透過圍繞 CX 支付的經常性收入以及電信、有線或金融服務的貨幣化規模來擴展我們的投資組合能力。

So we tend to be pretty laser-focused on how we can actually pay an attractive price on a pre-synergy basis and do even better in terms of cost synergies and revenue post-acquisition.

因此，我們往往非常關注如何在協同前實際支付有吸引力的價格，並在收購後的成本協同和收入方面做得更好。

And so we like what we're saying stay tuned on what we might be announcing in a few quarters.

因此，我們喜歡我們所說的，請繼續關注我們可能在幾個季度內宣布的內容。

Right.

正確的。

Thank you, Adam.

謝謝你，亞當。

(Operator Instructions)

（操作員說明）

Nehal Choksi, Northland Capital Market.

Nehal Choksi，北國資本市場。

Yes.

是的。

Great.

偉大的。

Thank you.

謝謝。

Thanks for the question.

謝謝你的提問。

Nice results, especially on the free cash flow.

不錯的結果，尤其是在自由現金流方面。

Is that by any chance impacting your calendar '24 free cash flow guidance?

這是否會影響您的日曆'24自由現金流指導？

No, I mean, as you saw, our guidance for 2024 remains very strong.

不，我的意思是，正如您所看到的，我們對 2024 年的指導仍然非常強勁。

We increased our guidance with a midpoint of $115 million.

我們將指導意見上調至中位數 1.15 億美元。

So it's nice sequential progress.

所以這是很好的連續進展。

And the team has done particularly well, as I highlighted in my prepared remarks.

正如我在準備好的演講中所強調的那樣，該團隊做得特別好。

We just got after.

我們剛剛追上來。

Similar to how we got after profitability and we'll continue to go after opportunities to improve our performance over time.

與我們追求獲利的方式類似，我們將繼續尋找機會，隨著時間的推移提高我們的業績。

Okay, great.

好的，太好了。

Now my other quick question here is that outside of the potential M&A, do you see it as potentially plausible to hit the $1.5 billion goal organically?

現在我的另一個簡單問題是，除了潛在的併購之外，您認為有機地實現 15 億美元的目標是否有可能？

I love the question -- would love to have that data be the case.

我喜歡這個問題——希望數據是這樣的。

That's not what we've talked about, though.

但這不是我們討論的內容。

The reality is I think, at this stage, you've seen this year alone in 2023, CSG put up just shy of $80 million of organic incremental revenue.

我認為現實情況是，在現階段，光是 2023 年這一年，CSG 的有機增量收入就接近 8,000 萬美元。

Most that have tracked our stock over a longer period of time.

大多數人都在較長一段時間內追蹤我們的股票。

That's not what they would have seen from CSG a few years ago.

幾年前他們不會從南玻集團看到這樣的情況。

We love the organic growth.

我們喜歡有機成長。

We're committed to it.

我們致力於此。

It's built into our executive compensation.

它已納入我們的高階主管薪酬中。

So our money where our mouth is on this thing, and we are going to consistently grow this thing mid-single digit or better.

所以我們的錢都花在了這個東西上，我們將持續地將這個東西成長到中個位數或更好。

That said, would we from a planning standpoint plan to get to $1.5 billion organic?

也就是說，從規劃的角度來看，我們是否會規劃實現 15 億美元的有機資金？

No, that's where we would do smart, disciplined acquisitions layering on.

不，這就是我們會進行明智、嚴格的分層收購的地方。

Great.

偉大的。

Thank you.

謝謝。

Thanks, Nehal.

謝謝，內哈爾。

Brett Knoblauch, Cantor Fitzgerald.

布雷特·諾布勞赫，坎托·菲茨杰拉德。

All right.

好的。

Thanks for taking my question and congrats on the quarter guys.

感謝您提出我的問題，並祝賀本季的各位。

Maybe to start, what are you expecting from a growth standpoint from your two largest customers for this year?

首先，從今年最大的兩位客戶的成長角度來看，您對今年的成長有何期望？

They grew very nicely in 2023.

他們在2023年成長得非常好。

Is that something that you expect to continue, or what is based on your current guide for the full year from them?

這是您期望繼續進行的事情，還是基於您目前的全年指南？

Yes, that's we don't break out segments of our business other than to say we are committed to the 2% to 6%.

是的，除了說我們致力於 2% 到 6% 之外，我們沒有對我們的業務進行細分。

We're on record of saying across the full year, we would expect in a good performance to be midpoint or higher in terms of that, at least 4% or better.

我們有記錄表明，全年業績良好時，我們預計業績將達到中點或更高，至少 4% 或更高。

Midpoint is at 4.3%.

中點為 4.3%。

We expect CX and payments to be strong double digit growth.

我們預計客戶體驗和支付將實現兩位數的強勁成長。

We don't break out beyond that.

我們不會超越這個範圍。

That said, do we think that there could be growth in all of our customers?

也就是說，我們是否認為我們所有的客戶都會成長？

Yes, that's what we plan.

是的，這就是我們的計劃。

That's what we drive the teams, but then we'll react.

這就是我們推動團隊的動力，但隨後我們會做出反應。

And that's the portfolio effect of our business, and why we talk so much also about constant industry diversification and revenue diversification as one of the exciting parts to our story.

這就是我們業務的投資組合效應，也是為什麼我們如此多地談論持續的行業多元化和收入多元化，將其作為我們故事中令人興奮的部分之一。

But do we think there could be growth in our big two?

但我們認為我們的兩大巨頭能夠成長嗎？

We think there could be let's see how it plays out.

我們認為可能會有讓我們看看結果如何。

Perfect.

完美的。

And that's a good segue to my second question on breaking out segments.

這是我關於細分的第二個問題的一個很好的延續。

With Charter and Comcast continuously becoming a smaller percentage of the total, and payments continue to grow double digits.

隨著查特和康卡斯特在總數中所佔的比例不斷縮小，支付額持續增加兩位數。

Is there any plan for you guys to maybe give us a bit more color on the higher growth segments?

你們有什麼計畫可以讓我們對高成長細分市場有更多的了解嗎？

Yes.

是的。

I mean, I think it's something that we evaluate kind of constantly.

我的意思是，我認為這是我們不斷評估的事情。

I think it is at some point in the future, when those businesses get to a certain scale, it makes sense for us to explore that opportunity to really break them out as separate segments.

我認為在未來的某個時刻，當這些業務達到一定規模時，我們有必要探索這個機會，將它們真正分解為單獨的細分市場。

We're not quite there yet, but it is something that we constantly evaluate.

我們還沒有完全做到這一點，但我們會不斷評估這一點。

Perfect.

完美的。

Thanks, really appreciate it.

謝謝，真的很感激。

Thanks, Brett.

謝謝，布雷特。

Michael Berg, Wells Fargo.

麥可伯格，富國銀行。

Hi there, thanks for taking my question.

您好，感謝您提出我的問題。

I just wanted to go back to a subscriber question one more time.

我只是想再次回到訂閱者的問題。

Looking at my numbers and assuming my percentages and math are correct, it looks like the broadband cable segment declined 4% year-over-year after about flat 1% in Q3.

看看我的數據，假設我的百分比和數學是正確的，看起來寬頻線市場在第三季持平 1% 後，比去年同期下降了 4%。

And then Comcast specifically was flat in Q3 and slightly down in Q4.

然後康卡斯特在第三季度持平，在第四季度略有下降。

I guess, given when you said earlier on the call in the script, what could we think about as driving the outcomes there?

我想，考慮到您之前在劇本中的電話會議中所說的，我們可以考慮什麼來推動結果？

Thank you.

謝謝。

Yes, I think I think there's a couple of things.

是的，我認為有幾件事。

Let's just check the data points.

讓我們檢查一下數據點。

If you look at the combined two revenue from our big two, it grew about 5% year over year.

如果你看看我們兩大巨頭的兩項收入總和，你會發現它比去年同期成長了約 5%。

A majority of that would have come from some of the subscriber conversions that we did.

其中大部分來自我們所做的一些訂閱者轉換。

So you neutralize that out, you would have seen, like you said, Comcast kind of flattish, give or take.

所以你把它中和掉，你會看到，就像你說的，康卡斯特有點扁平化，給予或接受。

Charter up a little bit.

包租一點。

And so that would be a combination of the additional services we would do.

因此，這將是我們將提供的附加服務的組合。

Some of the impacts we saw that are already building into some of the subscriber counts.

我們看到的一些影響已經融入到一些訂閱者數量中。

So I think the main thing that we're kind of highlighting is A, there's additional headroom to grow and win more landmass in these customers.

因此，我認為我們要強調的主要內容是 A，還有額外的發展空間，可以在這些客戶中贏得更多的土地。

B, even if they continue to face some headwinds, it doesn't have an outsized impact on CSG, and we've been able to grow through that nicely.

B，即使他們繼續面臨一些阻力，也不會對南玻集團產生太大的影響，而且我們已經能夠很好地渡過難關。

And what we're focused on is, how do we help them perform better and respond to some of those challenges they may be facing.

我們關注的是，如何幫助他們表現得更好並應對他們可能面臨的一些挑戰。

They've got great homes passed.

他們已經擁有了美好的家園。

They've got great offers.

他們有很棒的優惠。

And we think with our digital CX, our payments and our monetization, there's a lot we can do to help them with some of the challenges, and we'll see how they respond to some of their competitive dynamics in the market.

我們認為，透過我們的數位客戶體驗、支付和貨幣化，我們可以做很多事情來幫助他們應對一些挑戰，我們將看到他們如何應對市場上的一些競爭動態。

Any other clarification on that, that would be helpful?

對此還有其他澄清嗎，會有幫助嗎？

No, I think the only thing I'd highlight is what you said, Brian, when you look at quarter to quarter, there's always can be some fluctuations because we do do some ancillaries -- that we do provide some ancillary services to both Comcast and Charter, and that's what's going to drive the fluctuations that you're seeing.

不，我想我唯一要強調的是你所說的，布萊恩，當你逐季度查看時，總是會出現一些波動，因為我們確實做了一些輔助服務——我們確實為康卡斯特提供了一些輔助服務和憲章，這就是你所看到的波動的原因。

Matt Harrigan, Benchmark.

馬特·哈里根，基準。

Thank you. [Europe-side] that has a particularly good prism on global economic activity, off the consumer and obviously corporate planning.

謝謝。 [歐洲方面]對全球經濟活動、消費者和明顯的企業規劃有著特別好的稜鏡。

And that's probably only enhanced by AI.

這可能只能透過人工智慧來增強。

What are you seeing, especially in Europe, but also in the US right now with all the geopolitical uncertainty, how it's affecting the consumer?

您看到了什麼，尤其是在歐洲，而且在美國，目前地緣政治的不確定性也很大，這對消費者有何影響？

And with AI, do you see that you're sensitivity to economic conditions is moderators at about the same or do you have any thoughts just on the broad genre there?

對於人工智慧，您是否發現您對經濟狀況的敏感度與調節因素大致相同，或者您對那裡的廣泛類型有什麼想法嗎？

Thank you.

謝謝。

Yes, I mean, I'll let Brian comment a little bit about his thoughts on the AI side.

是的，我的意思是，我會讓 Brian 評論他對人工智慧方面的想法。

But in terms of the broad economic trends that we're seeing.

但就我們所看到的廣泛經濟趨勢而言。

I think that it had come back and forth, I think that there was obviously some concerns or some anxiety around a recession on the horizon that had come and has gone and it keeps coming back in cycles have been have been very slow down our opportunities yet.

我認為它來來回回，我認為顯然對即將到來的經濟衰退存在一些擔憂或焦慮，這種經濟衰退已經來了又消失了，而且它不斷地循環回來，已經非常緩慢地減緩了我們的機會。

We still see a very strong pipeline building.

我們仍然看到非常強大的管道建設。

In fact, you know, a very robust pipeline and you know, that is building for us and those opportunities will, I think, continue to play itself out through the year.

事實上，你知道，我們正在建立一個非常強大的管道，我認為這些機會將在今年繼續發揮作用。

But that said, however, you know, given some of that tension within the global economy, one of the things we do see as a trend is the need and the hyper focus on CX.

但話雖如此，您知道，考慮到全球經濟中的一些緊張局勢，我們確實認為趨勢之一是對 CX 的需求和高度關注。

This is a consistent message across many of our customer base regardless of the industry verticals that everybody's focused on, how do we really differentiate ourselves from our competition by focusing on that customer experience and engaging partners like ourselves to help them think through those dynamics is something that is a priority for many of the organizations.

這是我們許多客戶群一致的訊息，無論每個人都專注於哪個垂直行業，我們如何透過專注於客戶體驗並吸引像我們這樣的合作夥伴來幫助他們思考這些動態，從而真正從競爭對手中脫穎而出。這是許多組織的優先事項。

Yes.

是的。

Maybe the only thing I would add to that is I think most companies saw some nervousness in throughout 2023, I haven't seen that get worse.

也許我唯一要補充的是，我認為大多數公司在 2023 年全年都感到有些緊張，但我還沒有看到情況變得更糟。

I haven't necessarily seen that get better.

我不一定看到情況有所改善。

I think people companies are just looking at, is there a softer landing?

我認為人們公司只是在關注是否有軟著陸？

Is there a harder landing?

還有更難的著陸嗎？

Do things go bump in the global political economic situation?

全球政治經濟情勢是否會改變？

So I think companies that we see are kind of preparing for both sides.

所以我認為我們看到的公司正在為雙方做好準備。

What we keep hearing over and over again, what's most important, one, can you bring us solutions to help us drive revenue growth faster?

我們一遍又一遍地聽到，最重要的是，第一，您能為我們提供解決方案來幫助我們更快地推動營收成長嗎？

Can you help us serve our customers around what Hai talked about that digital CX in a lower-cost way, and if we're going to make an investment in our business, it better ring the cash register either on revenue or cost savings and efficiency in the near term and in one two, three, four quarters.

您能否幫助我們以較低成本的方式圍繞 Hai 所說的數位 CX 為我們的客戶提供服務？如果我們要對我們的業務進行投資，最好在收入或成本節約和效率方面提高收銀機的效率短期內以及一、二、三、四個季度。

And that's one of the things that we've been pleased about with ourselves, pipeline and the solutions we have, as we've talked before.

正如我們之前談到的，這是我們對自己、管道和解決方案感到滿意的事情之一。

So far we're staying above the cut line because we're either able to help them on revenue, improved customer experience, or take cost out of their business.

到目前為止，我們一直保持在削減線之上，因為我們要么能夠幫助他們增加收入，改善客戶體驗，要么降低他們的業務成本。

And as long as we keep doing that, we think that's fueling a lot of this accelerated revenue growth.

只要我們繼續這樣做，我們認為這將在很大程度上推動收入的加速成長。

So that's -- I'm not sure we have the best crystal ball on your on your question, but that's kind of what we're saying for that.

所以，我不確定我們對你的問題有最好的水晶球，但這就是我們所說的。

Great.

偉大的。

Thanks, Brian.

謝謝，布萊恩。

Thanks Hai.

謝謝海。

All right.

好的。

Thanks, Matt, and thank you for all that had questions today.

謝謝馬特，也謝謝大家今天提出的問題。

I would now like to turn the call back over to Brian Shepherd for closing remarks.

我現在想將電話轉回給布萊恩謝潑德 (Brian Shepherd) 作結束語。

Brian, the floor is yours.

布萊恩，地板是你的。

Thanks for joining everyone.

感謝大家的加入。

We're excited about the record-setting results in the rearview mirror, but 2023 is over.

我們對後視鏡中創紀錄的結果感到興奮，但 2023 年已經結束了。

Now this team is laser-focused.

現在這個團隊非常專注。

We got to deliver against midpoint to upper end of the guidance we just put out.

我們必須按照我們剛剛發布的指導方針的中點到上限進行交付。

We fully expect to do that, but we have work to do, and this team is already one month into the year.

我們完全希望做到這一點，但我們還有工作要做，而且這個團隊已經進入今年一個月了。

We've got to get after it.

我們必須追上它。

So thanks for joining.

感謝您的加入。

We're going to continue the momentum and the commitment of doing business the right way at CSG.

我們將在 CSG 繼續保持以正確方式開展業務的勢頭和承諾。

Thank you all.

謝謝你們。

Thanks, Brian.

謝謝，布萊恩。

And ladies and gentlemen, that concludes today's call and thank you for joining, and you may now disconnect.

女士們、先生們，今天的通話到此結束，感謝您的加入，現在您可以掛斷電話了。