Gloo Holdings, Inc. (GLOO) 2026 Q1 法說會逐字稿

(audio in progress) as a result of new developments or other (technical difficulty) in these forward-looking statements. A discussion of some of the risks that could cause actual results to differ materially from our forward-looking statements can be found in today's press release and are disclosed under the caption risk factors and elsewhere in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the fiscal year ending January 31, 2026. Our SEC filings are also available on Gloo's Investor Relations website at investors.gloo.com and the SEC's website.

In addition, during today's call, we will discuss certain non-GAAP financial measures, including adjusted EBITDA. We use non-GAAP measures in some of our financial discussions as we believe they provide valuable insights on our operational performance and underlying operating results. These non-GAAP financial measures should be considered in addition to, not as a substitute for, or in isolation from our GAAP results. Reconciliations of these non-GAAP metrics to the most directly comparable GAAP metrics, as well as definitions of each measure, their limitations, and our rationale for using them are included in today's press release and will be included in our Form 10-Q to be filed for the quarter ended April 30, 2026.

And now, I'll turn the call over to Scott.

Thanks, Oliver, and thank you for joining our 2026 first quarter earnings call. Q1 was another strong quarter for Gloo. We exceeded our guidance and Street consensus on both revenue and adjusted EBITDA. Revenue came in at $41.5 million, growing 3x over the prior year (technical difficulty) guidance and Street consensus.

Adjusted EBITDA was negative $11.5 million, also ahead of guidance and Street consensus, and representing more than a $7 million sequential improvement from Q4 2025. This represented our third consecutive quarter of sequential adjusted EBITDA improvement. This progress our confidence in delivering against our adjusted EBITDA profitability goals with adjusted EBITDA expected to approach breakeven in Q3 of 2026 and reach profitability in Q4 2026.

Our Q1 results demonstrated that our strategy is working. We're seeing growing demand from large strategic customers, our current acquisitions are delivering compounding value, and AI is becoming an increasingly important accelerator across the business.

Before turning to the specific drivers for the quarter, I want to connect our results to the broader opportunity. Gloo is building leading technology platform for the faith and flourishing ecosystem, with applied AI becoming a defining capability across the platform. This is a large, durable, and highly fragmented ecosystem, spanning education, social impact, Bible translation, churches, and the denominations that serve them.

Donations remain the economic engine of the ecosystem, funding the mission-driven work of faith in flourishing organizations. In 2025, revenues for faith-based organizations grew 8.2% to more than $265 billion, underscoring both the scale of the opportunity and the importance of donor development. Across these segments, organizations consistently need two things. They need to modernize technology, and they need to expand the marketing reach to attract more donors and more constituents. That is how we have organized the Gloo platform, powering technology and powering reach.

Applied AI has become an increasingly important capability of the platform. Our powering technology business is designed to take over the customer's technology operations, modernize them, and then apply agentic AI to deliver significantly better outcomes at lower costs for our customers, while creating higher margins and durable revenue streams for Gloo. With powering reach, applied AI helps customers better understand their audiences, personalize engagement, and strengthen donor development.

That combination is what makes Gloo distinct. We are not simply providing software or services. We are bringing applied AI into the workflows that matter most to the organizations that we serve. We can do this because Gloo has earned a position of trust within the faith and flourishing ecosystem. Over decades, we have built the relationships and credibility needed to convene leaders, understand their most important workflows, and apply AI in ways that are practical and mission aligned.

In Q1, we saw strong momentum across the platform. On the powering Reach side, Masterworks, Barna Group, and Westfall delivered best revenue quarters ever. That performance demonstrates the value of combining donor engagement with media, research, and the fundraising capabilities all on one platform.

On the powering Technology side, customers are increasingly selecting Gloo to take over, modernize, and transform core technology operations through offerings like Gloo 360. In Q1, that momentum showed up in larger strategic wins, including five new customers contributing more than $1 million in annual contract revenue. These larger strategic wins show growing traction across both existing and new segments of the faith and flourishing ecosystem.

Assemblies of God is a strong example of a denomination choosing Gloo. They are leveraging Gloo 360 across their enterprise by modernizing legacy systems to better serve their 13,000 churches within the United States.

Indiana Wesleyan University is another important example. We're partnering with Wesley Seminary at IWU to build VIA Journeys, an AI-powered ministry lifecycle ecosystem that connects ministry leaders with personalized resources and mentors. We believe this points to a broader transformation in how universities will equip students and the communities where they lead.

For example, our work with Jessup University announced earlier this year is progressing extremely well and running ahead of schedule. Beyond the customer examples, we continue to build broader ecosystem momentum around applied AI. Our 2026 fourth annual Gloo Hackathon will bring together more than 700 developers, engineers, and mission-driven builders in Boulder this October for 48 hours of hacking and building mission-aligned apps and technology.

This quarter, we announced the general availability of Gloo AI Studio, a comprehensive set of AI tools and capabilities for developers in the faith and flourishing ecosystem. This release includes support for over 80 LLM models. It includes new safety capabilities, varied subscription options to pay for token usage, and a free sandbox for developers to experience our values-aligned guardrails. The goal is to accelerate practical AI solutions that advance human flourishing.

Moving now to acquisitions, which remain a key part of how we're strengthening the Gloo platform. Our strategy is to add best-in-class providers that expand our ability to Power Tech and to Power Reach. Q1 provided strong evidence that that strategy is working. Westfall Group and Master Works both delivered one of their best quarters ever. That validates the strength of those businesses and the compounding value of bringing them onto the Gloo platform.

During Q1, we signed a purchase agreement to acquire EMD, to be closed at the beginning of Q2. EMD expands our powering technology portfolio with Workday consulting, implementation, and support capabilities for not-for-profit, small, and mid-market organizations. EMD also aligns directly with our broader strategy that I mentioned earlier. We take on and modernize critical customer workflows, then apply specialized engineering talent and agentic AI to deliver them better outcomes at a lower cost. Over time, this creates a strong customer value proposition while also improving Gloo's margin profile.

Today, we're also announcing the acquisition of the remaining stake in Midwestern, bringing our ownership to 100%. Midwestern increases our investment in the cost effective global talent capability area. We believe this will continue to be a significant growth opportunity as we combine lower cost delivery capabilities with agentic AI.

This also eliminates the call option which will result in a one-time improvement by removing the associated $12.1 million liability from Gloo's balance sheet. Together, these acquisitions strengthened the platform, expand customer value, and reinforce the flywheel that we're building.

Our approach with acquisitions is always disciplined. We continue to see a strong pipeline, but we will only pursue opportunities that are best in class, strategically aligned, and accretive to the Gloo platform. Even though we have a strong pipeline, as we previously stated, our current plan does not depend on additional acquisitions to achieve our revenue or adjusted EBITDA profitability guidance.

As we look ahead, our priorities remain clear. We're focused on deepening strategic customer relationships, scaling our platform, and applying AI in ways that improve outcomes for our customers while creating durable value for Gloo. At the same time, we will keep integrating acquisitions with discipline and executing against our path to profitability.

Q1 was a strong start of the year. We remain confident in our strategy, our 2026 plan, and the long-term opportunity to build the category defining technology platform for the faith and flourishing ecosystem.

Paul, I'll turn it over to you to walk through the numbers in more detail.

Thank you, Scott. We deliver strong first-quarter results with both revenue and adjusted EBITDA beating guidance. This performance reflects solid business momentum and disciplined execution, giving us a solid financial start to the year.

Q1 revenue was $41.5 million, an increase of 238% compared to the same period last year and 23.5% sequential growth compared to Q4. Year-over-year revenue growth was driven by momentum and several business lines, most notably Gloo 360, as well as the acquisitions of capital partner businesses such as Masterworks and Midwestern.

Platform revenue totaled $24.1 million, an increase of $15.6 million from Q1 of last year and up 19.9% over Q4 2025. Platform solutions revenue was $17.4 million, up $13.6 million from the same period in 2025 and above 29%, sequentially. Cost of revenue in the quarter was 67.7% of total revenue, an improvement from 72.1% in the prior-year period. That increase was driven by improvements in margins at our workspace and outreach business lines, as well as the full quarter of Westfall Group. We expect improvement to continue through the year.

Adjust the EBITDA improved $7.1 million sequentially to negative $11.5 million. This significant improvement reflects the impact of our cost-saving actions implemented in Q4, along with the growth already mentioned. In particular, our operating expenses decreased $8.4 million sequentially, while revenue grew 24%. Also note, the general administrative expenses include acquisition costs related to the EMD acquisition, which closed in the second quarter. We do not adjust for these costs in our non-GAAP results.

We expect continued sequential improvement in Q2 as we aim to achieve adjusted EBITDA profitability in Q4.

As Scott described earlier, we recently agreed to purchase the remaining 20% of Midwestern that we did not previously own, as well as a limit call option permitting the holder of the remaining 20% from reacquiring a controlling interest of Midwestern from us. We anticipate closing on the transaction later this quarter. The elimination of the call option will result in no longer having a large swing in the financial statement reporting line titled gain or loss from change in fair value of financial instruments.

As of April 30, 2026, we had $33 million of cash and cash equivalents. We believe that we have the liquidity to reach positive adjusted EBITDA in Q4, which we expect will put us on a path of sustainable, positive free cash flow growth in future quarters. With significant momentum across the business, we also believe we have multiple options to further strengthen the balance sheet, fund our growth, and support future acquisition opportunities should we choose to pursue them.

I'd like to now turn to our full-year 2026 and Q2 outlook. For full-year 2026 revenue, we're increasing our outlook $5 million to $195 million. In the second quarter, we expect revenue to be $44 million and adjusted EBITDA loss to narrow to a negative $8.5. We continue to expect adjusted EBITDA to approach breakeven in Q3 2026 and reach profitability in Q4 2026. For Q2, we expect a weighted average share count of approximately 81 million shares.

With that, I'll turn this call back to Scott.

Thanks, Paul. With that, operator, we're ready to take the first question.

(Operator Instructions) Dan Kurnos, Benchmark.

Scott, Paul, congrats on another great quarter. I guess first question, the revenue cadence implies a bit of a re-acceleration in the back half, not to say that the growth hasn't been impressive.

And I just want to get a sense from you, guys. I know you said in the last call, starting to see larger customer wins. You flagged the $5 million annualized contracts this quarter. How much line of sight do you have into stuff like that? And how much is coming from, let's call it the more recently acquired business, and how's that mix changed since the April guidance?

Yeah, thanks. Good to hear from you, Dan. We definitely have been able to have continued acceleration. I wouldn't say that it is accelerating any different than it has been. We've been super pleased with the growth. And the growth has been a combination of scaling some of the core Gloo offerings like 360 and Gloo AI. At the same time, it's also been able to continue to scale and get synergies across the different capital partners that we've acquired over the years as well.

We've been able to drive really strong organic growth in our core offerings, as well as really strong organic growth in the offerings from the different capital partners. One of the great things that we're excited about is being able to see the synergies that are taking place in the cross-sell. You have more and more of the organizations that we're serving. They have one offering, but when we see them get to that second offering, we see a significant step up, almost 2 times the revenue.

When they get to three or more offerings, we're now then seeing that to be closer to sometimes 5 to 10 times the volume of what just a single offering should be. So it's really a combination of the two. And overall, we're seeing more than 30% sort of coming from a lot of these organic growth and the organic growth of the new acquisitions.

And Scott, that's a great segue into kind of my next question. I'm just trying to understand, like when you talk about land and expand, right, and you just kind of outlined the way that you guys attack that. And I just want to get a sense from you, when you win one of these larger contracts, are they taking multiples at once? Does it dip the toe in the water? And then all of a sudden, you think that that contract can be 10x over time.

I just want to get a sense from you, how much -- we know that this is a massive team and you guys are the undisputed leader with really no competition out there. But I'm just trying to get a sense of how quickly some of these major deals can expand, because you guys have had a lot of very early success, even earlier than I think most of us anticipated.

Yeah. Thanks, Dan. This is Pat. And I'll just say that as we, I think, noted in the formal comments, 30% of our customers, over $1 million now are more than one, which means the large majority are only one. And typically, a sale will be a single-product area that we then expand one or two quarters later over time. But most of them start with one, right? And some of our sales strategy is to keep things simpler and move them forward.

But I will say we have had a couple that we've landed more than one product area at the same time for them. And I expect that that will become a larger aspect of our sales motion as each of the sales offerings becomes more mature. We have more customers in the land expand, and then we'll be able to land, expand, expand over time. But so far, it's mostly one landing in a quarter, and then we're following it with a subsequent offer later in time.

Richard Baldry, Roth Capital.

(technical difficulty) to Q1, the revenue increase had about a 70% gross margin contribution on the quarter. I'm sort of curious if you can look into that and talk about how much would be because of the organic growth and how much might have been sort of cost realignment.

That's 2x where your normal gross margins are sitting today. I'm sort of curious how sustainable that sort of drop-down could be as we move forward. Thank you.

Great question, Rich. Thanks for chiming in. I think there's a balance between the two in the quarter. We definitely got some significant benefit from the overall reduction in our operating expenses. You saw that flow through in terms of contribution to adjusted EBITDA, which was obviously very significant relative to the revenue increase.

But I would say that you've got -- somewhere between 50% and 60% of that probably came from the operating expense and the remainder came from just continuing to get leverage across the cost basis associated with what you think of as the cost of goods sold or contribution margin.

Thanks. You're still early in some of the larger deals on the Gloo 360 side. But I'm curious, as those are under your umbrella a little bit longer, are you seeing incremental headcount synergies? Are you starting to see early cross-selling or upselling opportunities? How are the earlier large deals playing out?

Yeah. And every one of them is causing us to just get more mature, Rich -- this is Pat again, where we're getting more proof points of different offerings. As we get more and more customers, hey, we already have some level of expertise on some of the tools that we're picking up from them. We already have more maturity in some of the agentic workflows that we're applying to them. And of course, our HR systems are getting more mature of being able to bring them in, onboard them, and make the best application of good HR disciplines to those as well.

So I'll say every one of these is making us better. We still, I'd say, are not fully mature in those offerings because several of them are ones that we're still picking up and learning. So I think we still have a lot of margin improvement to get, as well as rapidity of the motions and the ability to onboard and then to be able to commercialize.

But the good aspect of this is that every ones that we do, we're now creating the agentic workflows that the next one is just easier and faster. So we just see this as an engine that we're going to be able to rinse and repeat over and over again. And each one of those is showing more maturity in the offering.

So a long way to go. The ecosystem is large, but we're now having more and more proven capabilities that can be applied against them.

If I can squeeze one last one in. When you look at the five deals over $1 million, can you talk about -- are there any commonalities across those? Or are there multiple entry points you can do those in now so we can sort of see how extensible that is going forward? Thanks.

And maybe Scott, you can add as well, but we are starting to see a lot more pipeline in the university segment, in particular, which is one that we've highlighted. William Jessup was our first major example. We're now closing more of those offerings. So that's an area that, as we said, there's over 900 faith-based universities in the US. So we have a long path to go.

We're clearly a critical mass in some sectors, such as Bible translation, campus ministry, and other areas like rescue missions is an area that our work that we have specifically on reach is well proven. So there's a lot more opportunities there.

And then finally, I think, as we noted in our formal comments, we have had -- started to have some success in the Catholic segment, which is a very large space for us that we're just getting started. So I think more replicable, big opportunities that we see the land, expand, expand just as enormous pathway in front of us.

Scott, anything else you would add?

Yeah, thanks, Pat. I really like what you've coined there in terms of land, expand, and expand, because we're landing and expanding within a specific county, but when we find ourselves into a category like campus ministries or a category like faith-based universities or rescue mission. When we find ourselves getting into a different segment, that segment also has the dynamic of expand as well. And so we've got really the power of landing and expanding within an account and expanding again within a category.

And we've been adding categories extremely quickly. Really sort of surprising in terms of how quick the categories are expanding.

Now, one of the things I would like to anchor us back in is they are looking for the same thing, okay? There's a commonality in terms of, hey, help me power attack. Help me get more reach so I can have more donors, more constituents, more students, more volunteers, you name it. They're really powering that power and reach. And just being able to then apply AI to be able to give them the lower cost, better benefit, and give us an ever-increasing margin as we bring more AI-executed work into the program.

Got it. Congrats on a great quarter.

Yun Kim, Loop Capital Markets.

Congrats on a strong quarter. So on the EMD business, can you update us on the progress that you have made since the acquisition closed? And for the EMD customers, I know there's some who are not faith-based customers or organizations. Do you expect the non-faith-based customer base to show growth there? Or is your near-term go-to-market primarily focused on faith-based organizations?

Yeah. So as you're aware, they have both faith-based and not faith-based, and we're growing them both. Obviously, we've got some obvious synergies within the faith-based where we can do a lot of cross-selling immediately, but also in the in the non-faith-based. That's on its own growth plan as well. Relatively new, right? It's just closed at the beginning of this quarter. So we're five or six weeks in now, but we're liking what we're seeing.

Additionally, Midwestern, which we just went to 100% ownership from 80%, those guys have pretty much the same profile. They have -- a significant amount of Midwestern is also non-faith-based. And pretty much about the same percent, about a third faith-based, and about two-thirds not faith-based. So it's nice to be able to see some of the synergies there between, let's say, a Midwestern and an EMD on the non-faith-based side. So yeah, they're both growing. We're committed to growing them both. And for the last few years of Midwestern, we've grown both sides of it as well.

Is there an opportunity to cross-sell Gloo 360 to the non-faith-based customers of EMD?

Yes, there are. There's no question that the small to mid-sized organizations are coming up against the same set of issues, which is, hey, help me with my tech; help me with my reach. And those are common concerns, common value propositions, whether they're faith-based or not faith-based organizations. And everybody needs help applying AI into their specific organizational workflows.

And likewise, when you've got a workflow that helps somebody engage with employees on an ongoing basis, that workflow is the same, whether it's a faith-based or a non-faith-based. So there's a lot of commonality against that as well.

Okay, great. And then maybe this question is for Pat. I know it's very early, but what's been the early feedback on Gloo AI Studio? Was that part of your hackathon at all? Thanks.

Yeah, and the early feedback is strong. And obviously, as you open a new service like that, there's lots of learnings as developers come on, and we're getting more efficient at bringing developers on, bringing the billing systems up and operating for them. And we did have a big customer, HelloBible, that does a consumer chat service move over to Gloo Studio. They were public on LinkedIn or one of the other social channels about that and the good experience that we're having.

So we're now starting to have, I'll say, real customers who are bringing their workloads onto the platform. We also -- as a result of Studio, we will have more to talk about as we go through our virtual hackathon events and then our big hackathon in the fall. So they will be very heavily featured. And announcements of new capabilities, new services, new customers coming on the platform as part of the hackathon is a big thing when we come up on that in the fall.

So overall, we're happy with the momentum that we're seeing, 1,000-plus developers now on platform. But we have to grow this much faster, much larger, and we believe that we now have a mature offering that will enable us to do exactly that.

Jason Kreyer, Craig-Hallum.

So, Scott, great to hear the early success with cross-sell here in the first quarter. Wanted to ask just about the go-to market for cross-selling these new solutions to existing customers. Like, if we think about a Westfall or an EMD, how quickly can you get customers interest in the new solutions? How quickly can you get them up and running? And just what that upsell process looks like?

Yeah, and generally, there's a strong effort. Our Chief Revenue Officer, Rebecca, runs a very aggressive process across the different sales teams to drive exactly that. We're seeing a good effect from that already. And I'll say we're pleasantly surprised how easy it is to get that process underway. So we do see that Westfall Gold with Masterworks, 360 into Masterworks accounts, Servant into our 360 accounts.

These motions are ones that we think have a lot of replicability, a lot of scale. And overall, we're just building more sales capacity. We're bringing sales teams on. We're getting more rigorous in our processes to manage large account pipelines and then building more cross-sell mechanisms across the portfolio. So we just see ourself at the beginning of the cycle, and every element of the portfolio gives us more opportunity to cross-sell.

Perfect. One follow-up just on on -- the M&A has continued to expand your addressable market. When you think about the bigger customers that you have today, curious what you think your penetration is into the existing base. And really I'm trying to figure out how much runway is there ahead with such a large customer base into a large addressable market?

Yeah, the runway is truly enormous. That's why we somewhat easily talk about TAMs in excess of $100 billion. This is just a large market for it. And we talk about universities, we now have several closed, 900 to go. And even we're pretty well penetrated in a few accounts at this point, we're not well penetrated across the portfolio.

So even in our land expand in an account have room to grow. So we would consider our effective SAM to be at very low percentages at this point. And the TAM is enormous. The SAM that's reachable is very large. And we don't see ourself as anywhere close to saturation on any dimension of the business.

Ryan Meyers, Lake Street Capital Markets.

First question here, have you seen any changes in customer budgets or any other major changes across the ecosystem in terms of appetite for more digital offerings?

Yeah, thanks, Ryan. Yeah, for sure. I mean, as I said in my prepared remarks, the revenue in this ecosystem grew at 8.2% last year. I mean, you think for a very significant, what is an old ecosystem to be able to have that kind of growth is remarkable.

And as a result of that, you get more budget dollars to work with. There's no question that that kind of growth in the core donations that are funding this ecosystem definitely allows us to be able to have more dollars to work with. And we feel it.

I would say there's another thing too, and that is that younger people are re-engaging at a much bigger and higher number than others in spirituality and faith. That is the -- that bodes really well for where we're at in the overall cycle because the growth -- if you look at that growth and you were to segment that, I would imagine that you'll definitely see the younger people have a very significant positive influence on the market.

Not only in terms of there's more dollars to be worked with, no question. But it's just encouraging, right, our market is encouraged. They're seeing a lot of opportunity to serve in the community. When you have younger people starting to show up, that's a very big encouragement with this ecosystem.

Got it. Thank you. And then a second question here. You mentioned 30% organic growth. How much of this do you think will come from new customer wins versus new customers expanding their spend?

Yeah, it's a 30%-plus. I mean, we're above that, but we're very comfortable with that continued organic growth. But our big driver is new customers. That is what's really driving our growth in terms of -- within that organic growth, so much of it is new people that are getting introduced to Gloo 360, Gloo AI, Masterworks, Barna across the board. It is really about attracting new into that and then growing the ones that we currently have. Both are happening, but absolutely new names is super important.

Pat, what would you add to that?

Not too much to add. But the opportunity for us as we build our sales force is one that we just get more and more account coverage over time. And we're regularly adding more salespeople to 360, to Masterworks, to our Westfall Gold. Every one of our offerings is getting more sales capacity, and we'll be able to invest more into it. We do not see that there's budget limitations even though we don't really fundamentally view that tighter budgets is a bad thing for us.

Because fundamentally, they're looking for cost savings, and we also present cost savings to them as well. So we do see ourself in many respects as not particularly vulnerable to cost issues. But this is a good time for our ecosystem, as Scott has said. It's a good time for offering. And as we build more capacity to sell and deliver, we do think that we see a very clean line of sight to a rapidly growing revenue customer base, and it could land, expand, expand for many quarters to come.

Matthew Harrigan, Benchmark StoneX.

You made a reference at the end of one of your answers to getting traction with the Catholics, and clearly you've been focused on Evangelicals relative to Catholics or Anglicans. It's interesting, I mean, the Catholic church, I mean, certainly was arguably the most successful hierarchical global organization for a long time. And obviously, it's unique on the educational side, both on secondary schools and a lot of universities, although they're becoming, I guess, increasingly secularized.

If you really get traction on the Catholic side or some of the other denominations where you're not as penetrated, could you hit a pretty fast tipping point where at a higher level, you could have a lot of acceptance of a broad bouquet of products relative to, I think, some of the denominations you're dealing with and maybe more on a grassroots basis where you get really good word of mouth, but you kind of have to convince a lot of people to get that momentum.

Thanks, and congratulations on the results, clearly.

Thank you. Well, I think, first I'd say that we're probably not far enough along to know the repeatability of the sales patterns yet in the Catholic segment. So I'd say it's a great question for us to come back to in future quarters as we have more Catholic customers, we see more of the sales motion. That said, given the hierarchical nature that you point to, we think that you actually have very referenceable relationships across them, and as you get success in one, it will be very repeatable across others. So we do, for that very reason, think that we will have good sales productivity as we engage.

We have also had the most success so far empowering tech in that sector, but we do see that the full range of our offerings could be applicable there at scale. We've also had good affinity for some of the AI opportunities that we uniquely have and gaining more momentum with customers there. So overall, I say it's very early for us, but we're super happy because of the size.

And when you look at the size of that portion of the marketplace, archdiocese across the nation are large. They have large technology needs. And as you say, they're structured, organized, and we believe will be very repeatable.

And could that extend into the university side as well? Or is that kind of a different animal?

No, no. We do -- we see it as very replicable in the university side. And of the 900 that we've quoted, a little bit, sort of two-thirds, one-third; that two-thirds are Evangelically-oriented, and one-third Catholic-oriented. But we do hope to have several successes in the university side of the Catholic community as well.

Thank you. I would now like to turn the conference back to Scott Beck for closing remarks. Sir?

Yeah, thanks a lot. Appreciate that. As you can tell in the call, we're super excited about the performance, but we're also really excited about the progress. This faith and flourishing ecosystem needs what Gloo is providing.

The technology and the marketing reach, and then all being powered by AI. It is just incredibly good timing for us to be at the point that we're at. But it's still early. We're still early on our journey as a public company, but the momentum's strong and it's growing.

We really do have an opportunity to build a category-defining technology platform for this ecosystem. And in doing that, one of the things that excites us the most is that we can actually be engaged in shaping technology as a force for good. And if you think about it, the time and the intensity of the technology changes that are taking place right now is one of the most consequential periods of change in our lifetime. And to be able to be there and to be able to be on the front lines with these organizations is super encouraging to our organization.

But as we're doing this, we always have to remember that we're serving those who serve. That's the ministers, the campus ministries, the rescue missions, the World Child Development Organization, the Global Water Organization, the faith-based universities, the churches, and the denominations that serve them. And in doing that, they're out on the front line.

And they're out there changing lives for real people. They're changing families, they're changing cities. And yeah, as we pursue this all together, we're pursuing it so that we can accomplish the vision that we have. And that's a world where every person can flourish and be all that they were born to be. I mean, that's what fires us up. That's what gets us out of bed in the morning and gets us pressing so hard.

And you all, as shareholders, are part of that. You're making a difference in these organizations. You're being able to give them access to capabilities and capital that allow them to scale what they love to do and what they're called to do.

So we're grateful. We're grateful for the champions that we serve, and we're grateful for the shareholders that are serving on behalf of them with us.

So on behalf of all of us, we say thank you. Thanks for tuning in today. God bless you. God bless you and all your efforts and Gloo and its efforts as well. Thank you.

This concludes conference call. Thank you for participating. You may now disc onnect .