Sprout Social Inc (SPT) 2024 Q2 法說會逐字稿

Thank you for standing by.

謝謝你的支持。

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

我叫梅格，今天我將擔任你們的會議操作員。

At this time, I would like to welcome everyone to the 2024 Q2 Sprout Social Inc. conference call.

此刻，我歡迎大家參加 Sprout Social Inc. 2024 年第二季電話會議。

(Operator Instructions)

（操作員說明）

I would now like to turn the conference over to Mr. Jason Rechel, Vice President of Investor Relations.

我現在將會議交給投資者關係副總裁 Jason Rechel 先生主持。

Please go ahead.

請繼續。

Thank you, operator.

謝謝你，接線生。

Welcome to Sprout Social’s second-quarter 2024 earnings call.

歡迎參加 Sprout Social 的 2024 年第二季財報電話會議。

We’ll be discussing the results announced in our press release issued after the market closed today, and have also released an updated investor presentation which can be found on our website.

我們將討論今天收盤後發布的新聞稿中宣布的結果，並且還發布了更新的投資者演示文稿，可以在我們的網站上找到。

With me are; Sprout Social’s CEO, Justyn Howard; CFO, Joe Del Preto; and President, Ryan Barretto.

與我同在的是； Sprout Social 執行長 Justyn Howard；財務長喬·德爾·普雷托；和總裁瑞安·巴雷托。

Today’s call will contain forward-looking statements which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.

今天的電話會議將包含根據 1995 年《私人證券訴訟改革法案》的安全港條款做出的前瞻性陳述。

All statements other than statements of historical fact are forward-looking.

除歷史事實陳述外的所有陳述均為前瞻性陳述。

These include, among others, statements concerning our expected future financial performance and business plans and objectives, and can be identified by words such as expect, anticipate, intend, plan, believe, seek, opportunity, or will.

其中包括有關我們預期未來財務表現以及業務計劃和目標的陳述，可以透過預期、預期、打算、計劃、相信、尋求、機會或意願等字眼來識別。

These statements reflect our views as of today only and should not be relied upon as representing our views at any subsequent date and we do not undertake any duty to update these statements.

這些聲明僅反映我們今天的觀點，不應被視為代表我們在任何後續日期的觀點，並且我們不承擔更新這些聲明的任何責任。

Forward-looking statements address matters that are subject to risks and uncertainties that could cause actual results to differ materially.

前瞻性陳述涉及可能導致實際結果出現重大差異的風險和不確定性問題。

For a discussion of the risks and other important factors that could affect our actual results, please refer to our quarterly report on Form 10-Q for the quarter ended June 30th, 202, to be filed with the SEC as well as our most recently filed 10-K and 10-Q.

有關可能影響我們實際業績的風險和其他重要因素的討論，請參閱我們將向 SEC 提交的截至 202 年 6 月 30 日的季度 10-Q 表格季度報告以及我們最近提交的10-K 和10-Q 。

During the call, we’ll discuss non-GAAP financial measures, which are not prepared in accordance with Generally Accepted Accounting Principles.

在電話會議期間，我們將討論非公認會計原則財務指標，這些指標不符合公認會計原則。

Definitions of these non-GAAP financial measures, along with reconciliation to the most directly comparable GAAP financial measures, are included in our second quarter earnings press release, which has been furnished to the SEC and is available on our website at investors.sproutsocial.com.

這些非GAAP 財務指標的定義，以及與最直接可比較的GAAP 財務指標的調節，均包含在我們的第二季度收益新聞稿中，該新聞稿已提供給SEC，並可在我們的網站Investors.sproutsocial .com 上獲取。

And with that, let me turn the call over to Justyn.

接下來，讓我把電話轉給賈斯汀。

Justyn?

賈斯汀？

Thank you, Jason and thank you to everyone for joining us today.

謝謝傑森，也謝謝大家今天加入我們。

I am honored to kick us off in what will be my last earning as a CEO before stepping into the Exec Chair role.

我很榮幸能夠在擔任執行主席之前獲得我作為執行長的最後一份收入。

When we founded Sprout 14 years ago, we believe that social media would change the relationship between brands and their customers in new and profound ways.

14 年前，當我們創立 Sprout 時，我們相信社群媒體將以全新而深刻的方式改變品牌與其客戶之間的關係。

Today, Social has become a primary and mission-critical channel for the entire customer relationship and entire customer journey from awareness to acquisition to support.

如今，社交已成為整個客戶關係以及從認知到獲取再到支援的整個客戶旅程的主要且關鍵任務的管道。

I am incredibly proud of this team's dedication and hard work to put us in this position as we strive to win this market in a category that is increasingly becoming a must-have for any brand that aspires to be competitive moving forward.

我對這個團隊的奉獻精神和辛勤工作感到無比自豪，他們使我們取得了今天的成績，我們努力贏得這個市場，這個類別正日益成為任何渴望保持競爭力的品牌的必備品類。

I'm thrilled to be passing the torch to Ryan and excited for my own transition into a supporting role for this incredible team, while we'll be able to dig into some of our most exciting opportunities.

我很高興能夠將火炬傳遞給瑞安，也很高興自己能夠成為這個令人難以置信的團隊的配角，同時我們將能夠挖掘一些最令人興奮的機會。

I am grateful to everyone that's been part of our journey so far and the support of our shareholders.

我感謝迄今為止參與我們旅程的所有人以及股東的支持。

And now the floor is yours is Ryan.

現在請瑞安發言。

Thank you, Justyn.

謝謝你，賈斯汀。

I'm excited to spend time with all of you today and to share the progress we've been making despite a more challenging environment we're all operating in.

我很高興今天能與大家共度時光，並分享我們所取得的進展，儘管我們所處的環境更具挑戰性。

Sprout remains focused on leading our industry, which is driven by the success of our customers who rely on our platform as their social command center.

Sprout 仍然專注於引領我們的產業，這是由依賴我們的平台作為社交指揮中心的客戶的成功所推動的。

Our ongoing recognition by G2 as the top product in all of software is a testament to their engagement and satisfaction.

G2 持續將我們視為所有軟體中的頂級產品，證明了他們的參與度和滿意度。

This success is fueled by the focus and execution of our amazing team who enhance our product and customer value.

我們出色的團隊的專注和執行力推動了這一成功，他們提高了我們的產品和客戶價值。

As social continues to become more central to how brands market, sell and service their customers and the place where they gather crucial customer and market intelligence, we believe we are well positioned to lead in this critical space.

隨著社交對於品牌行銷、銷售和服務客戶的方式以及品牌收集關鍵客戶和市場情報的方式越來越重要，我們相信我們處於有利地位，可以在這個關鍵領域處於領先地位。

And despite the current headwinds facing the broader software industry, we believe we have the right team to navigate these challenges while continuing to deliver for our customers.

儘管當前更廣泛的軟體產業面臨阻力，但我們相信我們擁有合適的團隊來應對這些挑戰，同時繼續為我們的客戶提供服務。

On that note, I'm pleased to share that we're tracking ahead of the plan we outlined for you in May.

關於這一點，我很高興地告訴大家，我們正在提前追蹤 5 月為您制定的計劃。

The buying environment in Q2 mirrored what we observed in Q1.

第二季的購買環境與我們在第一季觀察到的情況一致。

As we identified and adjusted for last quarter, our buyers are managing through new approval processes and an increasing number of steps through the decision-making process, leading to lengthier evaluation cycles.

正如我們在上個季度所確定和調整的那樣，我們的買家正在透過新的審批流程進行管理，決策過程中的步驟越來越多，從而導致評估週期更長。

In this environment, we extended our product leadership, improved our competitive win rates, further improved gross retention and delivered notable Tagger upside.

在這種環境下，我們擴大了產品領先地位，提高了競爭獲勝率，進一步提高了毛保留率，並實現了顯著的 Tagger 優勢。

Our team is strengthening, our pipeline is rapidly expanding, and our platform is delivering incredible value.

我們的團隊正在加強，我們的管道正在迅速擴大，我們的平台正在提供令人難以置信的價值。

The three areas where we believe we can best deliver value are through: number one, our accelerated pace of product innovation; number two, by getting even closer to our customers; and number three, by accelerating our pace of pipeline and opportunity creation.

我們相信我們能夠最好地在三個領域創造價值：第一，我們加快產品創新步伐；第二，更貼近我們的客戶；第三，加快我們的管道和創造機會的步伐。

We have the number one customer-rated product on G2, and our internal mantra holds true, especially now, we're a joy to do business with.

我們擁有 G2 上客戶評價排名第一的產品，我們的內部口號是正確的，尤其是現在，我們很高興與您開展業務。

These focused efforts drove the progress we saw during the quarter.

這些集中的努力推動了我們在本季的進展。

Inside of our installed base, this approach was validated this quarter through improving gross retention rates across each segment of our business and a broader positive change as our mix further shifts to more sophisticated customers with annual and multiyear contracts.

在我們的客戶群內部，這種方法在本季度得到了驗證，透過提高我們業務各部門的總保留率，以及隨著我們的組合進一步轉向具有年度和多年合約的更成熟的客戶而產生更廣泛的正面變化。

We also saw competitive win rates improve, and we grew this quarter with an incredible list of customers like Salesforce, Honda, Applied Materials, Church & Dwight, Cintas, Porter Airlines, Washington State University, Bausch and Lomb, Alterra Mountain, Oliver Wyman, MasTec, Allianz Partners, Metropolitan Transportation Authority, GreenState Credit Union and Elanco Animal Health.

我們也看到競爭獲勝率有所提高，本季我們的客戶數量令人難以置信，例如Salesforce、本田、應用材料、Church & Dwight、Cintas、波特航空、華盛頓州立大學、博士倫、Alterra Mountain、奧緯諮詢、 MasTec、Allianz Partners、大都會交通局、GreenState Credit Union 和 Elanco Animal Health。

Customers like these and many others contributed to a very strong large deal momentum with customers spending more than $150,000 ACV with us increasing by 64% year on-year.

像這樣的客戶和許多其他客戶促成了非常強勁的大額交易勢頭，客戶花費超過 150,000 美元 ACV，與我們相比同比增長了 64%。

We continue to hear from our customers that they are seeing our competitors investing less in both customer support and innovation.

我們不斷從客戶那裡聽到，他們發現我們的競爭對手在客戶支援和創新方面的投資越來越少。

We view this as an opportunity to further differentiate ourselves.

我們認為這是一個進一步脫穎而出的機會。

Our AI and automation are helping our customers analyze over 1 billion messages a day to identify the best times to post, to create compelling content and to analyze and gain insights.

我們的人工智慧和自動化正在幫助我們的客戶每天分析超過 10 億條訊息，以確定發布的最佳時機、創建引人注目的內容以及分析和獲得見解。

We're building seamless solutions baked elegantly into existing workflows that allow AI to serve as an assistance to human.

我們正在建立完美融入現有工作流程的無縫解決方案，使人工智慧能夠為人類提供幫助。

We're also accelerating our care offering with AI, unlocking an efficiency for teams with the release of auto classification of cases by intent, the ability to auto assign cases and to automatically summarize conversations.

我們也利用人工智慧加速我們的護理服務，透過發布按意圖對病例進行自動分類、自動分配病例和自動總結對話的能力，提高團隊的效率。

Listening customers can now leverage insights by AI assist positioning our platform to solve more problems by keeping workflow in pro.

善於傾聽的客戶現在可以利用人工智慧的見解，幫助定位我們的平台，透過保持專業的工作流程來解決更多問題。

And our new publishing API endpoints enable enterprise marketing teams to integrate directly with their projects and content management tools and paves the way for future Sprout partnerships.

我們新的發布 API 端點使企業行銷團隊能夠直接與其專案和內容管理工具集成，並為未來的 Sprout 合作夥伴關係鋪平道路。

Part of this competitive differentiation also comes from Tagger, which has further contributed to strengthening premium module attach rates.

這種競爭差異化的部分原因也來自於 Tagger，它進一步提高了優質模組的附加率。

We've seen strong success after enabling all customer-facing teams to sell Tagger in January.

一月讓所有面向客戶的團隊銷售 Tagger 後，我們取得了巨大的成功。

A sample of that progress comes in the form of some incredible new Tagger customers this quarter like NETGEAR, Cummins and Fairway Stores.

這項進展的一個例子是本季一些令人難以置信的新 Tagger 客戶，如 NETGEAR、Cummins 和 Fairway Stores。

Influencer marketing continues to be a rapidly emerging category that is top of mind for nearly every marketing leader we work with, and Tagger continues to be the fastest-growing product escrow.

有影響力的行銷仍然是一個快速新興的類別，幾乎是我們合作的每位行銷領導者的首要考慮因素，而 Tagger 仍然是成長最快的產品託管。

This is also a great example of the opportunities we have to solve more problems for our customers while we expand our footprint within our 30,000 customer base.

這也是一個很好的例子，說明我們有機會為客戶解決更多問題，同時擴大我們在 30,000 名客戶群中的業務範圍。

A year into the acquisition and enablement of our teams has also worked in reverse.

我們團隊的收購和支援一年後也取得了相反的效果。

The Tagger customer base has brought us a new spread customers with GoodRx who recently shared how to leverage these complementary products on a panel at Salesforce connections.

Tagger 客戶群為我們帶來了 GoodRx 的新客戶，他們最近在 Salesforce 連線的面板上分享如何利用這些互補產品。

Nycole Hampton, Senior Director of Content and Engagement Marketing at GoodRx said as a team that focuses on content, social, creator and community engagement as well as a long-time user of Tagger, we're looking for a complementary social platform to help streamline the full scope of our efforts.

GoodRx 內容和參與行銷高級總監 Nycole Hampton 表示，作為一個專注於內容、社交、創作者和社區參與的團隊以及 Tagger 的長期用戶，我們正在尋找一個互補的社交平台來幫助簡化流程我們努力的全部範圍。

With Sprout's intuitive platform and Tagger's influencer insights and workflow, we're excited to leverage these tools hand-in-hand while looking forward to what's to come as the platform start to evolve together.

借助 Sprout 直覺的平台和 Tagger 的影響者見解和工作流程，我們很高興能夠攜手利用這些工具，同時期待平台開始共同發展時會發生什麼。

With efficient tools, we're able to focus on interacting and building relationships with our customers, cleaning important insights that help content and creator strategies.

借助高效的工具，我們能夠專注於與客戶互動和建立關係，清理有助於內容和創作者策略的重要見解。

During Q1, we were named as the number one best software product by G2's 2024 Best Software awards.

第一季度，我們被 G2 的 2024 年最佳軟體獎評為最佳軟體產品第一名。

And we expanded on the success in G2's 2024 summer reports as a leader in 211 categories.

我們在 G2 2024 年夏季報告中進一步闡述了我們在 211 個類別中的領先地位。

We earned the number one ranking in 88 categories, including social customer service, social media analytics, social media suites, social media listing tools as well as the Enterprise results Index for social media management.

我們在 88 個類別中獲得第一名，包括社群客戶服務、社群媒體分析、社群媒體套件、社群媒體清單工具以及社群媒體管理企業績效指數。

Meanwhile, our partner ecosystem further strengthened with a new Snapchat partnership in Q2 and as a beta partner for the Threads API.

同時，我們的合作夥伴生態系統進一步加強，在第二季度與 Snapchat 建立了新的合作夥伴關係，並成為 Threads API 的測試版合作夥伴。

Here's what Meta had to say about our beta partnership.

以下是 Meta 對我們的測試版合作關係的評價。

We're thrilled to partner with Sprout Social, a leader in social media management software to enable our customers to drive engagement, build brand loyalty and achieve their marketing goals across Meta's family of apps.

我們很高興與社群媒體管理軟體領域的領導者 Sprout Social 合作，幫助我們的客戶在 Meta 的應用程式系列中提高參與度、建立品牌忠誠度並實現他們的行銷目標。

As a new member of Meta's ad tech partner program, we're excited to work Sprout Social to bring innovative solutions to our customers, including as a beta partner for the Threads API.

作為 Meta 廣告技術合作夥伴計畫的新成員，我們很高興能夠與 Sprout Social 合作，為我們的客戶帶來創新的解決方案，包括作為 Threads API 的測試版合作夥伴。

We believe our product and brand leadership, customer scale and differentiated partnerships with both network and technology partners have Sprout better position than ever before to define and lead what is meant for brands to operationalize a sophisticated social media strategy.

我們相信，我們的產品和品牌領導力、客戶規模以及與網路和技術合作夥伴的差異化合作夥伴關係，使 Sprout 比以往任何時候都更能定義和領導品牌實施複雜的社群媒體策略。

April Pence, Head of Communications & Engagement at Kroger is a great example of how Sprout is bringing this to life with our amazing customers.

Kroger 傳播與參與主管 April Pence 是 Sprout 如何與我們出色的客戶一起實現這一目標的一個很好的例子。

As April shared, at Kroger, we are fresh for everyone.

正如阿普麗爾所說，在克羅格，我們對每個人來說都是新鮮的。

Not only do we sell fresher than fresh foods, our enterprise social team also delivers thousands of pieces of fresh content every year.

我們不僅賣的比生鮮還新鮮，我們的企業社交團隊每年還傳遞數千條生鮮內容。

Tools like Sprout Social allow Kroger and our family of companies to effectively and efficiently publish and analyze numerous pieces of content over multiple platforms to our brand fans, all while creating additional capacity for a world-class marketing team to focus their creativity and talent into creating content that is engaging and impactful.

Sprout Social 等工具使Kroger 和我們的公司家族能夠有效且高效地在多個平台上向我們的品牌粉絲發布和分析大量內容，同時為世界一流的營銷團隊創造額外的能力，使其能夠集中他們的創造力和才能來創造具有吸引力和影響力的內容。

In addition to our products, just on partner value we delivered this quarter, we are thrilled to add an amazing new leader with our new Chief Product Officer, Erika Trautman.

除了我們的產品之外，僅就我們本季交付的合作夥伴價值而言，我們很高興添加一位令人驚嘆的新領導者，即我們的新首席產品官埃里卡·特勞特曼( Erika Trautman)。

Erika has been a founder and more recently an established product executive who has driven innovation and adoption with some of the most well-respected and successful products both at Google and Atlassian.

Erika 曾是一名創辦人，最近又擔任了一名成熟的產品主管，她推動了 Google 和 Atlassian 一些最受尊敬和最成功的產品的創新和採用。

Her leadership will be invaluable as we look to accelerate our foundation of product innovation, growth and scale, which have been the drivers for our success and recognition.

當我們尋求加速產品創新、成長和規模的基礎時，她的領導力將是非常寶貴的，這些是我們成功和認可的驅動力。

The hard work of our team is building into what we anticipate will be a stronger second half of the year.

我們團隊的辛勤工作正在打造我們預計下半年會更加強勁的業績。

Our opportunity is improving after an acceleration in Q2 pipeline creation and strengthening competitive win rates.

在第二季度管道創建加速和競爭獲勝率增強之後，我們的機會正在改善。

We're continuing to work hand-in-hand with the product teams at salesforce and with our broader partnership strategy performing well, I'm excited for our team to have the opportunity and honor to present again at Dreamforce later this quarter.

我們將繼續與 salesforce 的產品團隊攜手合作，並且我們更廣泛的合作夥伴策略表現良好，我很高興我們的團隊有機會並榮幸地在本季度晚些時候再次在 Dreamforce 上亮相。

I'm grateful and energized to officially step into the CEO role a few months from now, and I'm looking forward to all the value we'll collectively create for our customers, partners, employees and shareholders as we scale towards our multiyear goals.

我很感激並充滿活力地在幾個月後正式擔任首席執行官，我期待在我們朝著多年目標邁進的過程中，我們將共同為我們的客戶、合作夥伴、員工和股東創造所有價值。

And with that, I'll turn it over to Joe to run through the financials.

有了這個，我會把它交給喬來處理財務狀況。

Joe?

喬？

Thanks, Ryan.

謝謝，瑞安。

I'll now run through our financial results and guidance.

我現在將介紹我們的財務表現和指導。

We're pleased that we're tracking ahead of the rise plan outlined in May.

我們很高興我們正在追蹤五月概述的上漲計劃。

Revenue for the second quarter was $99.4 million, representing 25% year-over-year growth.

第二季營收為 9,940 萬美元，年增 25%。

Subscription revenue was $98.5 million, up 25% year over year.

訂閱收入為 9,850 萬美元，年增 25%。

Services revenue was $0.9 million, up 44% year over year.

服務收入為 90 萬美元，年增 44%。

The number of customers contributing more than $10,000 in ARR grew 21% from a year ago.

ARR 貢獻超過 10,000 美元的客戶數量比一年前增加了 21%。

The number of customers contributing more than $50,000 in ARR grew 38% from a year ago.

ARR 貢獻超過 50,000 美元的客戶數量比一年前增加了 38%。

Q2 ACV was $13,403 up 36% year over year.

第二季 ACV 為 13,403 美元，年增 36%。

We expect strong ACV growth to continue over the medium-term, driven by rapidly shifting enterprise mix, strengthening pretty module attach rates, influencer marketing and customer care.

我們預計，在企業結構快速變化、漂亮模組附加率加強、有影響力的營銷和客戶服務的推動下，ACV 在中期內將繼續強勁增長。

In Q2, non-GAAP gross profit was $78.6 million, representing a non-GAAP gross margin of 79.1%, up 100 basis points from a year ago.

第二季度，非 GAAP 毛利為 7,860 萬美元，非 GAAP 毛利率為 79.1%，較上年同期成長 100 個基點。

Non-GAAP sales and marketing expenses for Q2 were $38.0 million or 38% of revenue, down from 40% a year ago.

第二季非 GAAP 銷售和行銷費用為 3,800 萬美元，佔營收的 38%，低於一年前的 40%。

Our change in deferred commission amortization reduced sales and marketing expenses by $3.9 million compared with a year ago.

與一年前相比，我們對遞延佣金攤銷的變更減少了銷售和行銷費用 390 萬美元。

Non-GAAP research and development expenses for Q2 were $19.1 million or 19% of revenue, up from 18% a year ago.

第二季非 GAAP 研發費用為 1,910 萬美元，佔營收的 19%，高於一年前的 18%。

We continue to make targeted multiyear investments in AI and social customer care.

我們繼續在人工智慧和社交客戶服務方面進行有針對性的多年投資。

Non-GAAP general and administrative expenses for Q2 were $16.2 million or 16% of revenue, down from 17% a year ago.

第二季非 GAAP 一般和管理費用為 1,620 萬美元，佔營收的 16%，低於一年前的 17%。

We expect to deliver consistent G&A leverage as a percent of revenue moving forward.

我們預計未來將提供一致的總務及行政費用佔收入的百分比。

Non-GAAP operating income for Q2 was $5.3 million or 5.3% non-GAAP operating margin.

第二季非 GAAP 營業收入為 530 萬美元，非 GAAP 營業利益率為 5.3%。

Non-GAAP net income for Q2 was $4.9 million for a non-GAAP net income of $0.09 per share based on 56.7 million weighted average shares of common stock outstanding compared to a non-GAAP net income of $3.8 million and $0.07 per share a year ago.

第二季非GAAP 淨利為490 萬美元，基於5,670 萬股已發行普通股加權平均股計算，非GAAP 淨利為每股0.09 美元，而一年前非GAAP 淨利為380 萬美元，每股為0.07 美元。

Turning to the balance sheet and cash flow statement.

轉向資產負債表和現金流量表。

We ended Q2 with $93.2 million in cash, cash equivalents and marketable securities.

第二季末，我們擁有 9,320 萬美元的現金、現金等價物和有價證券。

This is down from $95.2 million at the end of Q1.

這比第一季末的 9520 萬美元有所下降。

Deferred revenue at the end of the quarter was $149.3 million.

本季末的遞延收入為 1.493 億美元。

Looking at both our billed and unbilled contracts, RPO totaled $295.1 million, up from $29.0 million as in Q1 and up 43% year over year.

從我們的計費和未計費合約來看，RPO 總額為 2.951 億美元，高於第一季的 2,900 萬美元，年增 43%。

We expect to recognize 72% of $212.5 million of total RPOs revenue over the next 12 months, implying a cRPO growth rate of 38% year over year.

我們預計未來 12 個月將確認 RPO 總收入 2.125 億美元中的 72%，這意味著 cRPO 年成長率為 38%。

We continue to believe that all of our leading indicators are converging towards cRPO over time.

我們仍然相信，隨著時間的推移，我們所有的領先指標都將向 cRPO 靠攏。

Operating cash flow in Q2 was $2.1 million, down from $6.3 million a year ago.

第二季營運現金流為 210 萬美元，低於去年同期的 630 萬美元。

Non-GAAP free cash flow was $2.5 million, down from $6.0 million a year ago.

非 GAAP 自由現金流為 250 萬美元，低於一年前的 600 萬美元。

Shifting to formal guidance.

轉向正式指導。

For the third quarter of fiscal 2024, we expect revenue in the range of $10.9 million to $102.1 million or a growth rate of more than 19%.

對於 2024 財年第三季度，我們預計營收在 1,090 萬美元至 1.021 億美元之間，成長率超過 19%。

We expect non-GAAP operating income in the range of $6.5 million to $7.5 million.

我們預計非 GAAP 營業收入在 650 萬美元至 750 萬美元之間。

This represents a record non-GAAP operating margin of 6.9% at the midpoint.

這意味著非 GAAP 營運利潤率中位數達到創紀錄的 6.9%。

We expect a non-GAAP net income per share between $0.12 and $0.13. This assumes 57.1 million weighted average basic shares of common stock outstanding.

我們預計非 GAAP 每股淨利潤在 0.12 美元至 0.13 美元之間。假設已發行普通股的加權平均基本股為 5,710 萬股。

For the full year 2024, we continue to expect revenue in the range of $405.0 million to $406.0 million.

對於 2024 年全年，我們繼續預期營收在 4.05 億美元至 4.06 億美元之間。

The systems are greater than 20% organic spot revenue growth and accelerated CAGR subscription revenue growth.

該系統的有機現貨收入成長超過 20%，並加速了複合年增長率訂閱收入的成長。

For the full year 2024, we expect non-GAAP operating income in the range of $28 million to $29 million.

2024 年全年，我們預計非 GAAP 營業收入在 2,800 萬美元至 2,900 萬美元之間。

This implies annual non-GAAP operating margin improvement of roughly 560 basis points.

這意味著年度非 GAAP 營業利潤率提高約 560 個基點。

We expect non-GAAP net income per share between $0.45 and $0.46, assuming 57.1 million weighted average basic shares of common stock outstanding.

假設已發行普通股的加權平均基本股為 5,710 萬股，我們預期非 GAAP 每股淨利潤將在 0.45 美元至 0.46 美元之間。

With that, Justyn, Ryan and I are happy to take any of your questions.

賈斯汀、瑞安和我很樂意回答你們的任何問題。

Operator?

操作員？

(Operator Instructions) Raimo Lenschow.

（操作員說明）Raimo Lenschow。

This is Frank on for Raimo.

這是萊莫的弗蘭克。

Thanks for taking the question.

感謝您提出問題。

I want to see if we could get an update on some of the macro and how that evolves specifically in regards to the pipeline issues from last quarter.

我想看看我們是否可以獲得一些宏觀的更新，以及在上個季度的管道問題方面具體如何發展。

Could you just double-click on those fronts?

您可以雙擊這些前面嗎？

And just what you're seeing in the field now relative to last quarter?

與上季相比，您現在在該領域看到了什麼？

And I had a follow-up.

我有一個後續行動。

Yes.

是的。

Thanks, Frank, this is Ryan.

謝謝，弗蘭克，這是瑞安。

I appreciate the question.

我很欣賞這個問題。

It's a very similar environment to what we saw in Q1 really does mirror it.

這與我們在第一季看到的環境非常相似，確實反映了這一點。

It's some of the things that I highlighted in the prepared remarks here.

這是我在準備好的評論中強調的一些事情。

I think just generally, there's pressures on buyers in terms of some new investments, and those things are manifesting itself in longer sales cycles.

我認為一般來說，買家在一些新投資方面面臨壓力，這些壓力在更長的銷售週期中得到體現。

So you're seeing for many of these buyers changing processes from what they're used to, new folks that are involved as stakeholders and the decision-making process and longer time periods between steps in decision-making.

因此，您會看到許多買家正在改變他們習慣的流程，新的人員作為利害關係人參與決策過程，並且決策步驟之間的時間間隔更長。

Having said that, I think as we -- and you could see it in the data here as we turn to Q2 in terms of the execution, continued progress on the trajectory and the success that we've been having and that showed up in the 10-K and the 50-K0 and the 150-K.

話雖如此，我認為，當我們轉向第二季度時，您可以在此處的數據中看到它的執行情況、軌跡上的持續進展以及我們一直以來所取得的成功，這些成功體現在10- K、50-K0 和150-K。

And the team has done a really nice job going out and building more pipeline.

該團隊在建立更多管道方面做得非常出色。

And so for us, while sales cycles are longer, we're continuing to see a healthy amount of demand for our products and value in the products that we're serving customers with today.

因此，對我們來說，雖然銷售週期更長，但我們仍然看到對我們產品的大量需求以及我們今天為客戶提供的產品的價值。

Thanks.

謝謝。

And then maybe for Joe, And then maybe for Joe. Just in the past, you guys have talked about larger social studio ads potentially being up for grabs as we get closer to that shot clock going off in Q4.

然後也許是為了喬，然後也許是為了喬。就在過去，你們談到了隨著我們越來越接近第四季度的拍攝時間，更大的社交工作室廣告可能會被爭奪。

I just want to ask if there's anything embedded in the second half guide for that?

我只是想問一下後半部分指南中是否有任何內容？

As far as, Frank, where we see that business headed or related to the guidance, like specifically, what color are you looking for there?

弗蘭克，就我們在哪裡看到該業務的發展方向或與指導相關的情況而言，具體來說，您在那裡尋找什麼顏色？

Right.

正確的。

Specific to the guidance, just what you guys are sort of embedding in the guide for Social Studio?

具體到指南，你們在 Social Studio 指南中嵌入了哪些內容？

Yes.

是的。

So Frank, as you know, historically haven't called out like a separate kind of fall out for Social Studio.

所以，正如你所知，弗蘭克在歷史上並沒有對 Social Studio 發出類似的單獨的爭吵。

What I could say is very similar built into the guide that we had coming out of Q1.

我可以說與我們第一季發布的指南非常相似。

We're seeing really strong momentum on that side, especially on the Service Cloud side, and I'll let Ryan kind of chime in on what he's seeing on the front line.

我們在這方面看到了非常強勁的勢頭，尤其是在服務雲方面，我會讓 Ryan 談談他在一線看到的情況。

But Frank, I would say there's not any material change in what we had baked in when we gave the full year guide coming out of Q1.

但是弗蘭克，我想說，當我們提供第一季的全年指南時，我們所烘焙的內容沒有任何實質變化。

Yes.

是的。

I think the only thing I'd add is we have a healthy amount of visibility into the Social Studio pipeline in front of us here, even in this last quarter, we're introduced to some newer opportunities and have seen good progress in execution with that partnership and continue to see really good progress and opportunity with the overall Salesforce partnership, specifically around the service cloud.

我認為我唯一要補充的是，我們對擺在我們面前的 Social Studio 管道擁有良好的可見性，即使在最後一個季度，我們也看到了一些新的機會，並且在執行方面看到了良好的進展。種合作關係，並繼續看到整個Salesforce 合作夥伴關係的良好進展和機會，特別是在服務雲方面。

Actually, this morning, I was on a webinar with the Head of Product for Service Cloud, and we had about 300 customers talking a little bit more about the things that we're working on right now and some of the announcements that we'll work on as we head into Dreamforce.

事實上，今天早上，我與 Service Cloud 產品主管一起參加了一個網路研討會，大約有 300 名客戶詳細討論了我們現在正在做的事情以及我們將要發布的一些公告。

Very helpful.

非常有幫助。

Thanks, guys.

謝謝，夥計們。

Thanks, Frank.

謝謝，弗蘭克。

David Hynes.

大衛海因斯。

Hey, guys.

嘿，夥計們。

Ryan, I was hoping you could talk a little bit about pipeline coverage ratios heading into the back half of the year?

Ryan，我希望您能談談今年下半年的管道覆蓋率？

And perhaps how that compares to the prior year?

或許與前一年相比如何？

I mean, look, this is normally not a question I would ask or really expect you to answer.

我的意思是，聽著，這通常不是我會問或真正希望你回答的問題。

But kind of given the turbulence coming out of Q1, what we can glean about bookings in Q2.

但考慮到第一季出現的動盪，我們可以收集到第二季的預訂情況。

I think it's fair in this case.

我認為在這種情況下這是公平的。

I'd love to get your thoughts.

我很想聽聽你的想法。

Yes.

是的。

No, I appreciate the question.

不，我很欣賞這個問題。

Yes, our pipeline ratios are the highest we've ever had.

是的，我們的管道比率是有史以來最高的。

We actually created more pipeline than we've ever created within the quarter.

實際上，我們創建的管道比本季內創建的管道還要多。

And I think everybody is seeing this in the environment today with some of the pressure on sales cycle times here, the coverage ratios need to be better.

我認為每個人都在當今的環境中看到了這一點，銷售週期時間面臨一些壓力，覆蓋率需要更好。

And we've seen some great things, give a lot of credit to our folks in the marketing organization and our sales organization.

我們已經看到了一些很棒的事情，這要歸功於我們行銷組織和銷售組織的人員。

We've done a great job really increasing the amount of customer-facing time and increasing the initiatives that we have to go out, make sure that we're in front of customers building strong demand.

我們做得很好，確實增加了與客戶接觸的時間，並增加了我們必須走出去的舉措，確保我們在客戶面前建立了強勁的需求。

And so the best way to think about this is we're heading into the back half with a larger pipeline than we've ever had before, which gives us a lot of confidence around the back half performance that we're expecting from this team.

因此，考慮這個問題的最佳方式是，我們正在以比以往任何時候都更大的管道進入後半場，這讓我們對後半場的表現充滿信心，這正是我們對這支球隊的期望。

Yes.

是的。

Okay.

好的。

And then maybe as a follow-up.

然後也許作為後續行動。

Look, one of the elements of the new pricing model that you introduced in late 2022 was the layering in of annual price escalation.

您看，您在 2022 年底推出的新定價模式的要素之一是逐年漲價。

I assume you've had the chance to renew a small cohort of customers under those terms.

我認為您有機會根據這些條款續訂一小部分客戶。

Can you just talk about kind of realized price uplift at renewal?

能談談續訂時實現的價格上漲嗎？

What would the customer feedback has been there?

客戶的回饋是什麼？

How you think about that aiding growth going forward?

您如何看待這有助於未來的成長？

Anything along those lines would be helpful.

沿著這些思路的任何事情都會有所幫助。

Yes.

是的。

I mean I think I'd probably just point back there to just -- we talked about -- a little bit about it in our prepared remarks, is our performance with gross revenue retention.

我的意思是，我想我可能只是想回到我們準備好的發言中談到的一點，那就是我們的總收入保留表現。

We continue to see really good trajectory there even in this market, which I think speaks to the strength of our products and the value that our customers are getting from us.

即使在這個市場上，我們仍然看到了非常好的發展軌跡，我認為這說明了我們產品的實力以及客戶從我們這裡獲得的價值。

We've certainly lapped the annual renewals on many of those customers.

當然，我們已經為其中許多客戶提供了年度續約服務。

And again, for the majority of those customers that we went through, especially the folks that were on the annual contracts, the actual increase were single-digit typically.

再說一次，對於我們接觸過的大多數客戶，尤其是那些簽訂年度合約的客戶來說，實際成長通常都是個位數。

So there were not material increases in terms of what they are experiencing.

因此，他們所經歷的事情並沒有實質增加。

So nothing to call out in terms of variation there.

因此，就變化而言，沒有什麼值得指出的。

As we think about just generally uplift in pricing as we move forward, it's something that we're constantly looking at and making sure that the pricing that we have is well aligned with the value that we're delivering.

當我們考慮隨著我們的前進而普遍提高定價時，我們會不斷關注並確保我們的定價與我們所提供的價值保持一致。

But certainly in a higher -- in a market like this is where you're contemplating those things when you make those decisions.

但當然，在一個更高的市場中，當你做出這些決定時，你會考慮這些事情。

So nothing else to share there and how we're thinking about it as we move forward.

因此，沒有什麼可以分享的，以及我們在前進過程中如何思考它。

Yes.

是的。

Very good.

非常好。

Thank you guys.

謝謝你們。

Parker Lane.

帕克巷。

Yes, guys.

是的，夥計們。

Thanks for taking the question.

感謝您提出問題。

Ryan, last quarter, I know you guys talked about some changes you made to go to market, one of those being verticalization of the teams.

Ryan，上個季度，我知道你們談到了為進入市場所做的一些改變，其中之一就是團隊的垂直化。

How do you feel that those changes have impacted the business to this point through the year?

您認為這些變化對今年以來的業務產生了怎樣的影響？

And specifically on that verticalization piece, is there any particular areas of strength that you're seeing?

特別是在垂直化方面，您是否看到了任何特定的優勢領域？

Yes.

是的。

I appreciate the question.

我很欣賞這個問題。

The changes have been helpful for us.

這些改變對我們很有幫助。

The reps are ramping nicely.

代表們進展順利。

I mean, you could see it in some of the customers that we talked about today that represent those verticals across healthcare and financial services and public sector.

我的意思是，您可以在我們今天討論的一些代表醫療保健、金融服務和公共部門垂直領域的客戶中看到這一點。

The biggest thing I'd highlight for us that's been exciting aside from the logo ends is just the learning, in terms of the nuance and the use cases and the nuance in the language.

除了標誌結尾之外，我要向我們強調的最令人興奮的事情就是學習，就細微差別、用例以及語言的細微差別而言。

And oftentimes, some of the very specific associations and groups that you need to align with to make sure that you're in the best possible position to build pipeline and execute.

通常，您需要與一些非常具體的協會和團體保持一致，以確保您處於建立管道和執行的最佳位置。

And so we've seen some really good progress there.

所以我們已經看到了一些非常好的進展。

And again, similar to our commentary on the pipeline building in the back half, the team has done a really nice job building a bunch of pipeline and opportunity that we're looking forward to executing against.

再次，與我們對後半部分管道建設的評論類似，該團隊在建立一系列管道和機會方面做得非常出色，我們期待執行這些管道和機會。

Got it.

知道了。

That makes sense.

這是有道理的。

And then maybe to circle back to the pipeline and dig a little bit deeper.

然後也許會回到管道並進一步挖掘。

If you break it down by potential use case, call it, marketing, care, PR, influencer marketing, is there any particular subsegment there that you're seeing pipeline to still be the strongest?

如果您按潛在用例將其分解，稱之為行銷、護理、公關、影響者行銷，您認為管道中是否有任何特定的細分市場仍然是最強大的？

Or is it pretty level across those different areas?

或者這些不同領域的情況相當均衡嗎？

We've seen a healthy amount of demand across most of those areas.

我們看到大多數這些領域都有大量的需求。

And so much of this is because if you think about the customers that are a perfect fit for us, they're the socially sophisticated customers that are consuming so many of our products, and that came up in our continued success within that premium module attach rate.

這在很大程度上是因為，如果你考慮一下最適合我們的客戶，他們就是社交成熟的客戶，消費我們的許多產品，這也是我們在高級模組附加中不斷取得成功的原因。

But if I was to pick one that probably was leading the way is the customer care example.

但如果我要選擇一個可能處於領先地位的例子，那就是客戶服務。

And it's logical when you think about it in that -- customer care is one of those things where it tends to be -- have a lot of intensity around it when customers are on social and they're looking for support.

當你想到這一點時，這是合乎邏輯的——客戶關懷是它往往存在的事情之一——當客戶參與社交活動並尋求支持時，圍繞它的強度很大。

Those first comments that go up on your Redhead or your X or your Facebook or your Instagram are very public in nature, and there's a lot of pressure on brands to be able to respond quickly and to make sure that they're all over these things before others pile on, and it becomes something that's viral.

在你的 Redhead、X、Facebook 或 Instagram 上發布的第一條評論本質上是非常公開的，品牌面臨著很大的壓力，需要能夠快速做出反應並確保他們關注這些事情在其他人蜂擁而至之前，它就成為病毒式傳播的東西。

On top of that, we're just seeing more and more of these customers having a significant amount of volume happening on social.

最重要的是，我們看到越來越多的客戶在社群媒體上產生了大量的交易量。

That's where their customers are and their customers expect to engage with them there.

這就是他們的客戶所在的地方，他們的客戶希望在那裡與他們互動。

So, to highlight that as one of the use cases that's been really, really successful for us.

因此，要強調的是，這是對我們來說非常非常成功的用例之一。

The product teams that have been working on that product have just done a fantastic job in terms of the innovation and the value that we're delivering.

一直致力於該產品的產品團隊在創新和我們提供的價值方面做得非常出色。

Maybe one last point on that, that I think is really important here is -- if you think about that product, which was critically important because there's a lot of users that end up being in care, especially social customer care is that the product needs to be intuitive.

也許最後一點，我認為這裡非常重要的是 - 如果你考慮該產品，這一點至關重要，因為有很多用戶最終會受到照顧，特別是社交客戶關懷是該產品需要直觀一點。

It needs to be very easy to learn and ramp on, and you need to be very fast in responding to customers.

它需要非常容易學習和使用，並且您需要非常快速地回應客戶。

And that is just perfectly aligned with the DNA at Sprout, and that's why it's been so appealing for customers.

這與 Sprout 的 DNA 完全一致，這就是為什麼它對客戶如此有吸引力的原因。

Got it.

知道了。

Appreciate all the colour, Ryan.

欣賞所有的顏色，瑞安。

Thank you.

謝謝。

Arjun Bhatia.

阿瓊·巴蒂亞.

Hi, there.

你好呀。

Thank you guys for taking the question.

謝謝你們提出問題。

Ryan, one for you, if I can start out with.

瑞安，如果我可以開始的話，給你一個。

I'm just curious what you're observing in terms of how the market and your end customers are prioritizing social at this point and whether you've seen any change in terms of whether it's moving up or down their priority list?

我只是好奇您在市場和您的最終客戶目前如何優先考慮社交方面觀察到了什麼，以及您是否發現社交優先清單上移或下移方面有任何變化？

I know there's certainly CMOs and other buyers of a lot of the plate right now to consider budgets as well.

我知道現在肯定有很多的首席行銷長和其他買家也在考慮預算。

But I'm curious if the application of social to certain domain is outpacing that of others, whether it's service over core presence, and how you think that might play out towards the rest of the year here?

但我很好奇社交在某些領域的應用是否超過了其他領域，它是否是服務而非核心存在，以及您認為這在今年剩餘時間裡會如何發揮？

Yeah.

是的。

Thanks, Arjun.

謝謝，阿瓊。

I think there's a couple of flavours to that.

我認為這有幾種口味。

Flavour one is what we were just touching on in terms of social customer care and marketing leaders care about this, anybody who's responsible for the customer experience cares about this.

風味之一是我們剛剛談到的社會客戶關懷和行銷領導者關心的問題，任何負責客戶體驗的人都關心這一點。

But in this environment, if you have a lot of volume and interaction and your customers on social, which is the case for pretty much everybody, you need to be there.

但在這種環境下，如果你有大量的流量和互動，並且你的客戶在社交上（幾乎每個人都是這種情況），那麼你就需要在那裡。

And whether you're there or not, customers are going to be on your social profiles and trying to engage with you.

無論您是否在場，客戶都會出現在您的社交資料中並嘗試與您互動。

And you need a platform like Sprout that has the ability to programmatically enable you to capture all those interactions to respond fast and these customers expect oftentimes responses in minutes, and to be able to leverage it right into different places like your CRM, for example, and so that is definitely one thing that's standing out.

您需要像 Sprout 這樣的平台，能夠以程式方式捕捉所有這些互動以快速回應，這些客戶通常希望在幾分鐘內得到回應，並且能夠將其直接應用於不同的地方，例如您的 CRM，所以這絕對是一件引人注目的事。

From a marketing use case, one of the things that's really stood out over the last little while is just the value of organic.

從行銷用例來看，過去一段時間真正突出的事情之一就是有機的價值。

In so many of these places, we're seeing a cut on paid spend.

在許多這樣的地方，我們看到付費支出減少。

And when you think about marketers, when they're having budgets cut in certain areas, i.e., paid, they're looking for better performance in channels like social and social organic.

當你想到行銷人員時，當他們在某些領域（即付費領域）削減預算時，他們會在社交和社交有機等管道中尋求更好的表現。

It's really about the staff that you have and the campaigns and the creative that you're executing against.

這實際上與您所擁有的員工以及您所執行的活動和創意有關。

So we're spending certainly from a customer perspective and a new business perspective, really making sure that customers see the true value in the reporting the data that they get on, which campaigns are working.

因此，我們肯定會從客戶的角度和新的業務角度進行支出，真正確保客戶在報告他們獲得的數據以及哪些活動正在發揮作用時看到真正的價值。

And then again, even though you might be reducing on paid, because we have both paid and organic reporting in Sprout, our platform gives you the ability to see what's working really well so that you can amplify it.

再說一遍，即使您可能會減少付費，因為我們在 Sprout 中提供付費報告和自然報告，我們的平台使您能夠看到哪些內容真正有效，以便您可以放大它。

That might mean you're doing more organic campaigns or it might mean that you're boosting, you're putting more dollars behind some of your campaigns that have been really performing well.

這可能意味著你正在做更多的自然行銷活動，或者可能意味著你正在推動，你在一些表現良好的行銷活動上投入了更多的資金。

So those are a couple of things that I'd highlight there.

這是我要強調的幾件事。

And then maybe one last one just on Tagger and influencer marketing, I think this is another example where we think of -- and it certainly is influencer as a more new area of growth.

最後一個可能是關於標記器和影響者行銷，我認為這是我們想到的另一個例子 - 它肯定是影響者作為一個更新的成長領域。

But if we think about the idea of celebrities and the types of people who for years and years and years, been endorsing products, it's a flavour of that.

但如果我們考慮一下名人的想法以及多年來一直在代言產品的人的類型，那就是這樣的味道。

And so what we've seen from a lot of our customers is oftentimes the very expensive influencers don't have perfect overlap with their audience.

因此，我們從許多客戶那裡看到的是，通常非常昂貴的影響者與他們的受眾並沒有完美的重疊。

They're spending a significant amount of budget and not getting the return that they need.

他們花費了大量預算，卻沒有獲得所需的回報。

So we've been having a lot of conversations around how do you optimize your campaigns and your spend with a more localized influencer strategy.

因此，我們就如何透過更在地化的影響者策略來優化您的行銷活動和支出進行了許多對話。

So I'd highlight it's all about ROI across this group and how can you in many cases drive better returns on the investments that you're making.

因此，我想強調的是，這一切都與整個團隊的投資回報率有關，以及在許多情況下如何為您所做的投資帶來更好的回報。

Perfect.

完美的。

That's super helpful.

這非常有幫助。

And then just another one, if I kind of zoom out and think about what's happening in the social landscape, I know your value proposition was to kind of unify across all the social networks, obviously, right?

然後還有一個，如果我縮小範圍並思考社交領域正在發生的事情，我知道你的價值主張是在所有社交網絡中進行統一，顯然，對吧？

But when you look at activity from your customers, are you seeing any change in which networks are more active than maybe they were one or two years ago and whether that activity is getting more concentrated at all?

但是，當您查看客戶的活動時，您是否發現哪些網路比一兩年前更加活躍，以及該活動是否變得更加集中？

If there's any changes there, I would be curious to hear that.

如果那裡有任何變化，我很想聽聽。

It is really so dependent on the brand and the business that we're working with.

這確實非常依賴我們正在合作的品牌和業務。

And if you think about it, we have the benefit of working with 30,000 plus customers across pretty much every industry and vertical globally.

如果你仔細想想，我們的優勢在於與全球幾乎所有產業和垂直領域的 30,000 多家客戶合作。

And so what that means is so many of these organizations have different social networks that they lean into.

這意味著許多組織都有不同的社交網路可供使用。

B2Bs will be more on LinkedIn.

B2B 將會更多出現在 LinkedIn 上。

You'll see retailers that tend to be more on Instagram.

您會發現零售商更傾向於在 Instagram 上進行活動。

You'll see folks who are on TikTok.

您會看到使用 TikTok 的人。

So I'd actually highlight that it tends to be dictated by the type of brand and where their customers are.

因此，我實際上要強調的是，它往往取決於品牌類型及其客戶所在地。

Certainly, we continue to see a lot of gravity around things like TikTok.

當然，我們繼續看到 TikTok 等事物的巨大吸引力。

And more recently, with the introduction of threads, that's been something that's been really interesting for our customers as well.

最近，隨著線程的引入，這對我們的客戶來說也非常有趣。

For us, though, you're right.

但對我們來說，你是對的。

The value prop is the unification of all these things, the complexity that comes with it, and the ability for customers to know that when they invest in Sprout, you have the opportunity to execute against their individual strategy.

價值支柱是所有這些東西的統一，隨之而來的複雜性，以及讓客戶知道當他們投資 Sprout 時，您有機會執行他們的個人策略的能力。

Understood.

明白了。

Perfect.

完美的。

Very helpful.

非常有幫助。

Thank you, Ryan.

謝謝你，瑞安。

Thanks, Arjun.

謝謝，阿瓊。

Adam Hotchkiss.

亞當·霍奇基斯。

Great.

偉大的。

Thanks for taking the questions.

感謝您提出問題。

Ryan, I just wanted to follow up on an earlier question.

瑞安，我只是想跟進之前的問題。

Could you just talk a little bit about what you've learned over the last three months as you re-evaluated the pipeline and the sales team?

您能否簡單談談您在過去三個月重新評估通路和銷售團隊時學到的東西？

I'd just be curious what you view as being in your control on turning growth around versus maybe just some of these more macro-driven issues.

我只是好奇你認為什麼是你可以控制的扭轉成長的因素，而不是一些更宏觀驅動的問題。

I know you've called out some sales changes previously, but when you look at the growth turnaround here and how much needs to come through changes on your side or just ramping of reps versus the macro, how do you think about those factors?

我知道您之前已經提到了一些銷售變化，但是當您看到這裡的成長轉變以及您這邊需要進行多少變化或只是相對於宏觀而言增加代表時，您如何看待這些因素？

Yeah.

是的。

Thanks, Adam.

謝謝，亞當。

I think wrapped up in your question is something that we talk about a lot internally here at Sprout, which is controlling what we can control, right?

我認為你的問題中包含了我們在 Sprout 內部經常討論的問題，即控制我們可以控制的東西，對嗎？

For us, there's a few things that we think about a lot.

對我們來說，有一些事情我們經常思考。

One, we think about just over-delivering for our customers.

第一，我們考慮的是為客戶提供超額交付。

We think about showing up faster, showing up more knowledgeable, thinking about the ways in which we differentiate.

我們考慮更快地表現出來，表現得更有知識，思考如何讓我們與眾不同。

So this accelerated pace of innovation from our product clearly has been something that has differentiated us and it has helped us with our win rates and put us in a position, especially with these new products that we have, to be able to solve new problems for customers.

因此，我們產品創新步伐的加快顯然使我們脫穎而出，幫助我們提高了勝率，並使我們能夠解決新問題，尤其是我們擁有的這些新產品。

Getting closer to customers has certainly been a theme for us as well.

拉近與客戶的距離當然也是我們的一個主題。

We know that in today's environment, the pipe coverage ratios need to be larger.

我們知道，在當今的環境下，管道覆蓋率需要更大。

So we've been increasing the amount of customer-facing time.

因此，我們一直在增加與客戶接觸的時間。

We've also been continuing to evolve the initiatives that we have from a pipe gen perspective across marketing and our sales organization and really getting in front of those opportunities is going to be the biggest difference maker.

我們也一直在繼續從行銷和銷售組織的管道生成角度發展我們的舉措，真正抓住這些機會將成為最大的改變者。

And so as we look at these things, we know that the team is continuing to get better every single day, the level of efforts never been higher.

因此，當我們看到這些事情時，我們知道團隊每天都在不斷進步，努力程度從未如此之高。

And the customers that we're getting a chance to interact with are providing great feedback.

我們有機會與之互動的客戶提供了很好的回饋。

And for us, it's not just the feedback.

對我們來說，這不僅僅是反饋。

It's been in the products oftentimes before, they ever sign a contract with us, and then it's showing up in our gross retention in our 50000 and 150,000.

它以前經常出現在產品中，他們與我們簽訂合同，然後它出現在我們的 50000 和 150,000 的總保留率中。

So yes, underlying continued pace of innovation on the product, continued increase in terms of customer-facing time and then just making sure that when we show up, we're really differentiating ourselves from everybody else in the market.

所以，是的，產品創新的步伐不斷加快，與客戶接觸的時間不斷增加，然後確保當我們出現時，我們真正將自己與市場上的其他人區分開來。

Okay.

好的。

Great.

偉大的。

That's really helpful.

這真的很有幫助。

And then I just would love if you could touch on the broader sales force relationship.

如果您能談談更廣泛的銷售人員關係，我會很高興。

How helpful are they being on the go-to-market side?

他們在進入市場方面有多大幫助？

And I guess, how should we think about the mix of business coming through partner versus direct?

我想，我們應該如何考慮透過合作夥伴與直接進行的業務組合？

Yes.

是的。

The partnership continues to be something that we're really grateful for and we're really enjoying.

我們仍然非常感激並且非常享受這種夥伴關係。

As I mentioned this morning, I was on with Ryan Nichols, the Head of Product at Service Cloud, and we had 300 customers that had joined our webinar today that was very focused in on Sprout and Service Cloud and AI.

正如我今天早上提到的，我與 Service Cloud 的產品主管 Ryan Nichols 進行了交談，我們有 300 名客戶參加了今天的網路研討會，該研討會非常關注 Sprout、Service Cloud 和人工智慧。

We're continuing to find opportunities to integrate and make sure that our products are adding a ton of value across the entire sales force customer base.

我們正在繼續尋找整合的機會，並確保我們的產品為整個銷售團隊客戶群增加大量價值。

We've been getting a lot of support going in jointly with the salesforce team.

我們與銷售團隊一起獲得了很多支援。

I would still consider these deals very direct in nature.

我仍然認為這些交易本質上是非常直接的。

When we go in with the salesforce team, we're signing on our own paper.

當我們與銷售團隊合作時，我們會在自己的文件上簽名。

We are helping each other, but individually, we are closing these accounts.

我們正在互相幫助，但我們正在關閉這些帳戶。

And so for us, it's one of those ones where we've got these great product integrations to add more value to customers.

因此，對我們來說，這是我們擁有這些出色的產品整合來為客戶增加更多價值的領域之一。

When we go in together, it's a combination of it reinforces oftentimes the salesforce platform, and it enables the salesforce person to be able to grow their wallet share through some of their other products where we have integrations like the Tableau and Slack, for example, and certainly Service Cloud.

當我們一起合作時，它的組合通常會增強銷售人員平台，並且它使銷售人員能夠透過我們整合了 Tableau 和 Slack 等其他產品來增加他們的錢包份額，例如，當然還有服務雲。

And it adds more value to the customer in getting that 360-degree view.

透過獲得 360 度視角，它可以為客戶增加更多價值。

So it's been really positive.

所以這確實是正面的。

And for those that will be there, you'll see us at Dreamforce as well, sharing more about the progress that we've made with our joint customers and then sharing a little bit more about the continued product innovation that we're going to have together.

對於那些將在那裡的人，您也會在 Dreamforce 看到我們，分享更多有關我們與共同客戶所取得的進展的信息，然後分享更多有關我們將要進行的持續產品創新的信息。 。

Okay.

好的。

That’s really helpful.

這確實很有幫助。

Thanks, gents.

謝謝，先生們。

Jackson Ader.

傑克森·阿德.

Great.

偉大的。

Good evening, guys.

晚上好，夥計們。

Thanks for taking my questions.

感謝您回答我的問題。

I have two questions in there.

我有兩個問題。

They're actually both on the go-to-market changes.

他們其實都在關注市場的變化。

The first is, is it possible that actually the slower pace of decision-making just due to the macro environment is actually helping in the sense that it's giving the changes that you made in the first quarter time to settle in for people in new roles, people in new geographies or new verticals rather than maybe needing to make these changes while you're on a fuller spring?

首先是，實際上，由於宏觀環境而導致的決策速度放緩實際上是否有幫助，因為它使您在第一季度所做的改變有利於新角色的人員適應，生活在新地區或新垂直領域的人們，而不是在春天更充實的時候需要做出這些改變？

Hey, Jackson, no, I don't think so.

嘿，傑克遜，不，我不這麼認為。

I mean I think that's the first thing, and we shared this a little bit with some of the folks coming out of last quarter as well.

我的意思是，我認為這是第一件事，我們也與上個季度的一些人分享了這一點。

I mean so many of the changes that we talked about in Q1 really tied to the accountability I talked about before in terms of controlling what we can control and really wanted to be clear on things that we had worked on in Q1 that we felt also probably impacted the quarter.

我的意思是，我們在第一季討論的許多變化確實與我之前談到的責任有關，即控制我們可以控制的東西，並且真的想澄清我們在第一季度所做的工作，我們認為也可能影響了本季。

And that was a combination of some investments into our vertical strategy and then some enablement.

這是對我們的垂直策略的一些投資和一些支持的結合。

But those things I would highlight as really important things for us, not just this year, but in the long-term.

但我想強調的是，這些事情對我們來說非常重要，不僅是今年，而且從長遠來看。

And so I don't know that, I'd characterize the lower macro environment as helpful to those changes.

所以我不知道這一點，我認為較低的宏觀環境有助於這些變化。

Yeah.

是的。

Okay.

好的。

That makes sense.

這是有道理的。

Thank you.

謝謝。

And then, so as a follow-up, just pipeline builds a good thing, but how this will be the first kind of the first year where it's time to close that pipeline, right, as we head into the third and fourth quarter.

然後，作為後續行動，管道建設是一件好事，但這將是第一年的第一種，是時候關閉該管道了，對吧，當我們進入第三和第四季度時。

What are some of the changes that you would highlight that you've made that might help you actually start to get ink on the paper as we come to the all-important kind of fourth quarter for the enterprise.

當我們進入對企業最重要的第四季度時，您會強調您所做的一些改變可能會幫助您真正開始在紙上付諸實踐。

Yeah.

是的。

I mean, I think the first thing is, certainly, we have more pipeline than we've had before we created more pipeline this quarter, but we've been selling into these customers for a while, right?

我的意思是，我認為第一件事當然是，我們擁有比本季度創建更多管道之前更多的管道，但我們向這些客戶銷售產品已經有一段時間了，對嗎？

If I think about even just a lot of the Fortune 150 logos, we've talked about on these calls in the past, the team has executed across some incredible logos.

如果我想想，即使只是財富 150 強的許多徽標，我們過去在這些電話會議上也談過，團隊已經執行了一些令人難以置信的徽標。

And we've got a bunch of them that we named here today as well.

我們今天也在這裡命名了其中的一些。

But in terms of the dynamics of the pipeline and the things that we're constantly looking at and making sure that we're executing well, for us, there's the customer-facing time that I referred to before, really, really focused in on ensuring that we have the right velocity and activity happening in the field across our AEs and our Leaders.

但就管道的動態以及我們不斷關注並確保我們執行良好的事情而言，對我們來說，我之前提到的面向客戶的時間，真的非常專注於確保我們的AE 和領導者在該領域保持正確的速度和活動。

We're constantly looking at tight progression in the way that things are changing between stages to make sure that we're seeing enough movement in that pipeline, and it's heading in the right direction.

我們不斷關注各個階段之間事物變化的緊密進展，以確保我們看到該管道中有足夠的變化，並且它正朝著正確的方向前進。

We think a lot about just executive sponsorship, both on the customer side and our side and making sure that we've got good connectivity inside and outside within those organizations.

我們對客戶方和我們方的高階主管贊助進行了很多思考，並確保我們在這些組織內部和外部擁有良好的連結。

And then, the other piece for us is just making sure that we continue to have velocity, right?

然後，我們的另一件事就是確保我們繼續保持速度，對嗎？

The intention for us is to continue to make sure that we're having the right amount of healthy pressure on our team, but more importantly, the right reasons for the customer to close at a certain time period.

我們的目的是繼續確保我們的團隊承受適當的健康壓力，但更重要的是，確保客戶在特定時間段關閉的正確原因。

And so for us, the backdrop of the trial, for example, and having customers in the product is another helpful thing to help prove the value of the product and that we're a perfect set.

因此，對我們來說，例如，試驗的背景以及產品中的客戶是另一個有用的事情，有助於證明產品的價值以及我們是完美的組合。

So all those things are ingredients that go into making sure that the team is executing and that we're going to finish the year strong.

因此，所有這些都是確保團隊執行力以及我們將以強勁的表現結束這一年的要素。

Got it.

知道了。

Okay.

好的。

Thank you.

謝謝。

Elizabeth Porter.

伊麗莎白·波特。

Great.

偉大的。

Thank you so much for the question.

非常感謝你的提問。

I wanted to digging on the cRPO growth.

我想深入研究 cRPO 的成長情況。

And another metric that we look at is cRPO based bookings growth.

我們關注的另一個指標是基於 cRPO 的預訂成長。

And when looking at that number, it suggests that cRPO based bookings has been growing kind of mid-teens year over year for both 2Q and Q1.

從這個數字來看，它表明基於 cRPO 的預訂量在第二季和第一季都在同比增長。

So I was hoping to get a bridge on kind of what drives the confidence to the low-20s growth rate in revenue?

因此，我希望能夠了解是什麼推動了人們對 20 多歲的收入成長率的信心？

And what could be some of those factors making revenue grow faster than what we're seeing on the cRPO based bookings growth side?

其中哪些因素可能導致收入成長速度快於我們在基於 cRPO 的預訂成長方面看到的速度？

Thank you.

謝謝。

Yeah, Elizabeth, this is Joe. Thanks for the question.

是的，伊莉莎白，這是喬。謝謝你的提問。

And I think, first, I want to just call out that the RPO and cRPO numbers were kind of -- were consistent with our expectations in the line of the guidance of just what we made last quarter.

我認為，首先，我想指出的是，RPO 和 cRPO 數字與我們上季度製定的指導方針的預期一致。

And as you know, these balance sheet metrics primarily reflect the seasonality of the amortization of these accounts, as we come more heavily weighted to enterprise in Q4, you're naturally going to see the most value added in these metrics in Q4, right?

如您所知，這些資產負債表指標主要反映了這些帳戶攤銷的季節性，隨著我們在第四季度更加重視企業，您自然會在第四季度看到這些指標中的最大增值，對吧？

And so you saw that last year.

所以你去年就看到了這一點。

And so we haven't seen anything that would change this dynamic in 2024 and continue to expect that you will see very healthy contributions in the back-end.

因此，我們沒有看到任何會在 2024 年改變這種動態的事情，並繼續期望您在後端看到非常健康的貢獻。

So I think it's just the dynamics of how this amortizes over the first couple of quarters, and then you're going to see this pick up in the back half.

所以我認為這只是前幾季攤銷的動態，然後你會看到後半段的回升。

Got it.

知道了。

And then just as a follow-up, I wanted to get a sense for the competitive environment as you're increasingly expanding the portfolio and looking at those larger customers.

然後，作為後續行動，我想了解隨著您不斷擴大產品組合併關注那些更大的客戶，競爭環境。

How much is around competitive displacement versus greenfield?

與綠地相比，競爭性置換大約有多少？

You noted some great logo wins, but just with larger customers, is it still as much of a greenfield opportunity?

您注意到一些偉大的徽標贏得了勝利，但對於更大的客戶來說，這仍然是一個全新的機會嗎？

Or is it switched to a little bit more displacements?

還是改成稍微大一點的排氣量？

Yes.

是的。

It's a healthy balance.

這是一種健康的平衡。

I mean, I would say it's a healthy balance right now.

我的意思是，我想說現在這是一個健康的平衡。

Just generally, we are still so early within this market, and we've talked about it in the past on this call, so many of the logos and things that we've shared are these customers that didn't have a platform like Sprout before they invested.

總的來說，我們在這個市場還處於早期階段，我們過去在這次電話會議上討論過這一點，我們分享的許多徽標和東西都是那些沒有像 Sprout 這樣的平台的客戶在他們投資之前。

And then all of a sudden, they get to the level of complexity and needs and that might be volume coming in because the customers are hitting them on social and they've been trying to do things manually, where our platform is needed.

然後突然之間，他們達到了複雜性和需求的水平，這可能會帶來大量的流量，因為客戶在社交上吸引他們，並且他們一直在嘗試手動完成需要我們平台的事情。

Oftentimes, we'll also go in even including into the enterprise and we'll win a use case or a department division and find that there's a bunch of other opportunities that are like size or even bigger that are also not having a solution today.

通常，我們甚至會進入企業，我們會贏得一個用例或一個部門部門，然後發現還有很多其他類似規模甚至更大的機會，但今天也沒有解決方案。

So, it's -- we see those as both really big opportunities.

所以，我們認為這都是非常大的機會。

Certainly, displacement from a competitive perspective is something that the team gets excited about.

當然，從競爭的角度來看，置換是團隊感到興奮的事情。

We are strong believers that our product is the best one in the market, and that our team is the number one team and can better serve customers.

我們堅信我們的產品是市場上最好的產品，我們的團隊是第一個團隊，能夠更好地服務客戶。

So we've seen a lot of opportunity in this quarter, just really proud of the execution that we saw from the team.

因此，我們在本季看到了很多機會，我們對團隊的執行力感到非常自豪。

Great.

偉大的。

Thank you.

謝謝。

Matt VanVliet.

馬特·範弗利特。

Hey good afternoon.

嘿下午好。

Thanks for taking the question.

感謝您提出問題。

I guess when you look at some of the newer channels that you're supporting, whether that's Reddit or Threads that you talked about on data or TikTok, how should we think about these as net revenue retention drivers?

我想當你看到你支持的一些新管道時，無論是 Reddit 還是你在數據或 TikTok 上談到的 Threads，我們應該如何將它們視為淨收入保留驅動因素？

How much of this is then also kind of tying into just more usage, more stickiness rather than monetizing it?

那麼，其中有多少是與更多的使用、更多的黏性連結在一起的，而不是貨幣化的呢？

Just curious on how you think about that on the balance going forward.

只是好奇你如何看待未來的平衡。

Yes, I appreciate the question.

是的，我很欣賞這個問題。

We do very much see this as real value add in terms of adoption and usage and value for customers.

我們確實認為這是在採用和使用以及為客戶帶來的價值方面的真正增值。

We don't directly monetize the new networks as they come in.

當新網路出現時，我們不會直接將其貨幣化。

But it's really -- it's an indication for us of the complexity that the customer is dealing with.

但它確實向我們表明了客戶正在處理的複雜性。

The more networks that they are seeing their customers on where there's information coming to them, the harder it is for them to manage.

他們看到客戶接收訊息的網路越多，管理起來就越困難。

And because all of these things are siloed, they need a platform like Sprout to be able to stitch this all together to give them the ability to engage and respond to customers and to be able to do something with the data.

由於所有這些事情都是孤立的，他們需要像 Sprout 這樣的平台來將所有這些整合在一起，使他們能夠與客戶互動並做出回應，並能夠利用數據做一些事情。

And that might be really understanding what people are saying on the platform, understanding opportunities that may exist, maybe understanding what their competitors are doing to differentiate.

這可能是真正了解人們在平台上所說的內容，了解可能的機會，也許了解他們的競爭對手正在採取哪些措施來實現差異化。

So, we very much see it as something that adds more usage and adoption and value.

因此，我們非常認為它可以增加更多的使用、採用和價值。

And so for us, the relationships that we've developed over 14-plus years with so many of these networks are really valuable for us.

因此，對我們來說，14 年多來我們與眾多此類網絡建立的關係對我們來說非常有價值。

And we've been really proud of the way that our teams -- specifically the partnership and the product teams have shown up.

我們對我們的團隊—特別是合作夥伴和產品團隊的表現感到非常自豪。

We are typically at the front of the line for any outdoor beta that comes out, and we are typically one of the first companies that actually goes live across our full customer base with these products.

我們通常處於任何戶外測試版發布的前沿，而且我們通常是第一批真正在我們的整個客戶群中使用這些產品的公司之一。

And so that is just a massive differentiator and great feedback that we've got from the social networks over time because of our ability to execute for customers at scale.

因此，隨著時間的推移，我們從社交網路中獲得了巨大的差異化優勢和良好的回饋，因為我們有能力為客戶大規模執行任務。

All right.

好的。

Very helpful.

非常有幫助。

And then you mentioned Tagger is the fastest-growing product right now.

然後您提到 Tagger 是目前成長最快的產品。

Curious if that's just based on sort of year-over-year percentage growth rates are actually on sort of an ARR added basis?

好奇這是否只是基於某種同比百分比成長率，實際上是基於 ARR 增加的基礎？

And then maybe more importantly, what's the rate of attach that you're seeing on net new customers buying Tagger versus being sort of the first or second kind of expansionary sale that you're seeing down the road?

也許更重要的是，與您未來看到的第一種或第二種擴張性銷售相比，您看到的淨新客戶購買 Tagger 的附加率是多少？

Yes.

是的。

Today, it would be percentage, but it's -- I imagine, given just how well that product is growing over time.

今天，它會是百分比，但我想，考慮到該產品隨著時間的推移增長得有多好。

We'll continue to see that compete pretty strongly as one of our most important modules that's being added in.

我們將繼續看到它作為我們添加的最重要的模組之一，競爭非常激烈。

I would say just in terms of product, if it's the first or second, I think for us, it's interesting, and we kind of touched on it a little bit in the script, but we are seeing this opportunity to have Tagger customers turn into core Sprout customers and certainly in the reverse as well.

我想說的是，就產品而言，如果是第一個或第二個，我認為對我們來說，這很有趣，我們在腳本中稍微觸及了它，但我們看到了這個機會，讓Tagger客戶變成Sprout 的核心客戶，當然反之亦然。

And oftentimes, as we're going into these accounts, it might be the first additional product that they've had, not necessarily the third or fourth.

通常，當我們進入這些帳戶時，它可能是他們擁有的第一個附加產品，不一定是第三個或第四個。

So there's a lot of optionality for us in terms of being able to have these conversations around Tagger.

因此，在圍繞 Tagger 進行這些對話方面，我們有很多選擇。

And we're just seeing a ton of interest in this area because it's something that most companies aren't doing today or if they're doing it, they're doing it very manually.

我們只是看到人們對這一領域有很大的興趣，因為這是大多數公司今天沒有做的事情，或者即使他們正在做，他們也是非常手動地做的。

And if you want to execute on an influencer strategy at scale, you need a platform like Sprout that's going to enable you to be able to pull that all together and programmatically execute on and then have the data you need to be able to scale it efficiently.

如果您想大規模執行影響者策略，您需要一個像 Sprout 這樣的平台，它將使您能夠將所有內容整合在一起並以程式設計方式執行，然後獲得您需要的數據，從而能夠有效地擴展它。

Great.

偉大的。

Thank you.

謝謝。

Brian Schwartz.

布萊恩·施瓦茨。

Yes.

是的。

Hi.

你好。

Thanks for taking my questions this afternoon.

感謝您今天下午回答我的問題。

Ryan, I just wanted to ask you a question about the elongated sales cycles that I guess everyone has seen these days.

瑞安，我只是想問你一個關於銷售週期延長的問題，我想現在每個人都已經看到了這一點。

But does it vary at all between the sales cycles between what you're seeing with new logos versus the expansion business?

但是，您所看到的新商標與擴張業務之間的銷售週期之間有什麼不同嗎？

Yes.

是的。

Yes, it would.

是的，會的。

I mean the new business tends to generally at any time, take longer than on the expansion side.

我的意思是，新業務通常在任何時候都比擴張方面需要更長的時間。

And so I would say that it tends to be longer there.

所以我想說，那裡的時間往往更長。

And when you dig into it, many of those make sense in that for our current customers from an expansion standpoint, we've typically had a relationship with them for a while.

當你深入研究它時，其中許多都是有意義的，因為從擴張的角度來看，對於我們目前的客戶來說，我們通常與他們建立了一段時間的關係。

They've typically seen success, a lot of success from the products and are using it.

他們通常已經看到了產品的成功，並且正在使用它。

Sometimes we've got PLG-type approaches within the product by they might, for example, see listening or analytics in the platform every day, but don't have it turned on.

有時，我們在產品中採用了 PLG 類型的方法，例如，他們可能每天都會在平台中看到監聽或分析，但沒有將其打開。

So those are opportunities where there's probably less education and awareness and then credibility and trust to build over time.

因此，這些機會可能需要較少的教育和意識，然後隨著時間的推移才能建立信譽和信任。

So I would say that it is faster generally on expansion versus new business.

所以我想說，與新業務相比，擴張通常更快。

Okay.

好的。

And then the follow-up question I wanted to ask you is just where the business is today or the company in terms of the go-to-market transition that you've been embarking on.

然後我想問您的後續問題是，就您一直在進行的進入市場轉型而言，目前的業務或公司處於什麼位置。

Maybe it's a difficult question to ask because of the macro headwinds that are out there.

也許這是一個很難問的問題，因為存在宏觀阻力。

But where do you feel that the company is today in terms of optimizing those go-to-market changes that you started about a year ago.

但是，在優化大約一年前開始的上市變革方面，您認為公司目前的進展如何？

Thanks.

謝謝。

And Brian, when you say the changes we made a year ago, just more specific to our focus and execution on sophisticated customers?

布萊恩，當你說我們一年前所做的改變時，只是更具體地針對我們對成熟客戶的關注和執行？

Yes, not on the product side, but more just on the distribution side and the sales side and the move up market.

是的，不是在產品方面，而是在分銷方面、銷售方面以及升級市場方面。

I don't know if there's a baseball analogy.

我不知道是否有棒球類比。

I'm just wondering how much more or how much further you think it will be to kind of optimize that initiative moving up markup.

我只是想知道您認為優化該舉措將提高標記的程度或進一步提高多少。

Got it.

知道了。

Yes.

是的。

I got it.

我得到了它。

One thing I want to make sure and I clarify as well -- and I mentioned a little bit earlier today, but so many of the changes that we talked about in Q1 are changes we would make on any given year.

我想確定並澄清一件事——我今天早些時候提到過，但我們在第一季討論的許多變化都是我們在任何一年都會做出的變化。

And there are just things that take deal and helping scale a business, whether that be verticalization or enabling on new products.

有些事情可以促成交易並幫助擴大業務，無論是垂直化還是新產品的支援。

The move into the enterprise is something that we've been doing for quite a few years.

進軍企業是我們多年來一直在做的事情。

Certainly, with each passing year, because of the opportunity we've seen because of the growth that we've seen within those accounts and the opportunity we still see in front of us, we've been investing behind that with a high degree of certainty of the opportunity that exists and our right to win.

當然，隨著時間的推移，由於我們看到了機會，因為我們在這些帳戶中看到了增長，而且我們仍然看到擺在我們面前的機會，我們一直在以高度的投資來投資。性和我們獲勝的權利。

You will always hear me say that we have room to grow and to optimize, and we're continuing to do that.

你總會聽到我說我們有成長和優化的空間，我們將繼續這樣做。

Even if you think about quarter-on-quarter, and I would have told you this through the history of time, we expect to get better every single day.

即使你考慮季度環比，我也會透過時間的歷史告訴你這一點，我們期望每一天都會變得更好。

We continue to innovate on our initiatives.

我們持續創新我們的舉措。

We continue to ensure that we're coaching our people up and adding great talent.

我們將繼續確保對員工進行培訓並培養優秀人才。

So I'd say that for us, we've seen great execution from this team over time.

所以我想說，對我們來說，隨著時間的推移，我們看到了這個團隊的出色執行力。

We have more capacity behind it, and we fully expect that this team is going to go out and continue to deliver.

我們背後有更多的能力，我們完全期望這個團隊能夠走出去並繼續交付。

Very helpful.

非常有幫助。

Thank you.

謝謝。

Surinder Thind.

蘇林德·瘦身。

Thank you.

謝謝。

Just following up on the prior set of questions around just the sales force and the go-to-market strategy.

只是跟進之前圍繞銷售人員和進入市場策略的一系列問題。

How should we think about where we are in terms of a productivity perspective of the sales force?

我們該如何從銷售人員的生產力角度來思考我們所處的位置？

How quickly do you -- should they be able to get to kind of the run rate in terms of performance as we kind of look out Obviously, you've shifted people into new positions, new responsibilities.

正如我們所觀察到的那樣，他們應該能夠以多快的速度達到績效方面的運行率。

When should we expect to see full productivity?

我們什麼時候才能看到充分的生產力？

Yes.

是的。

I mean we expect to be heading into productivity here in the back half.

我的意思是，我們預計將在後半段進入生產力階段。

Certainly, the productivity changes by segment.

當然，生產力會因細分市場而有所變動。

And the reps that are in segments that have faster sales cycles tend to ramp much quicker than the enterprise reps, and that has so much to do with the natural course of how enterprise deals close over time, but very much associated to the investments that we've made and the pipeline that we've built.

銷售週期較快的細分市場中的代表往往比企業代表的成長速度要快得多，這與企業隨著時間的推移如何處理交易的自然過程有很大關係，但與我們的投資也有很大關係。

We anticipate we're going to see increased productivity changes from a positive perspective in the back half year.

我們預計，從正面的角度來看，下半年我們將看到生產力的提升。

Got it.

知道了。

And then I guess, what does that mean from a capacity perspective, at what point do you think about headcount, accelerating headcount, those kinds of changes within the sales force?

然後我想，從能力的角度來看，這意味著什麼？

Yes.

是的。

I mean we're constantly looking at the data to make sure that we feel great about the investments that we're making, that we're seeing the right type of rep productivity.

我的意思是，我們不斷地查看數據，以確保我們對所做的投資感到滿意，並確保我們看到了正確類型的代表性生產力。

When we look at the addressable market that we have in front of us, the pipeline that we have in front of us, the opportunities we see to win in the marketplace.

當我們審視我們面前的潛在市場、我們面前的管道以及我們在市場中獲勝的機會。

We're constantly looking at that equation to determine if we feel great about capacity.

我們不斷地研究這個方程式來確定我們對容量的感覺是否良好。

Our -- typically, this happens from an annual planning perspective, but we're constantly between myself and Joe and our organizations across finance and the go-to-market organizations are looking to see how we feel about the productivity metrics and where there might be opportunities to invest more or pause on investment.

我們的——通常，這是從年度計劃的角度來看的，但我們不斷地在我自己和喬以及我們的財務和市場組織之間進行交流，希望了解我們對生產力指標的看法以及可能存在的問題是增加投資或暫停投資的機會。

So it sounds like from a planning perspective, it's kind of steady state on a go-forward basis with all the changes you've made and then you'll maybe reevaluate closer to year-end, depending on how the metrics are shaking out in terms of the pipeline and wins and so forth?

因此，從規劃的角度來看，這聽起來像是在前進的基礎上進行的所有更改的穩定狀態，然後您可能會在接近年底時重新評估，具體取決於指標的變化情況管道和勝利等方面？

Yes, that's a fair assessment of generally how our planning goes and how we'll execute as we go into 2025.

是的，這是對 2025 年我們的規劃進度以及執行方式的公平評估。

Thank you.

謝謝。

Since there are no more questions, I will now turn the conference back over to Mr. Justyn Howard for closing remarks.

由於沒有其他問題了，我現在將會議轉回賈斯汀·霍華德先生致閉幕詞。

Please go ahead.

請繼續。

Yes.

是的。

Thank you so much.

太感謝了。

I appreciate all of the questions and discussion.

我感謝所有的問題和討論。

We are very grateful to be able to talk through this progress and our perspective on the business moving forward.

我們非常感謝能夠談論這項進展以及我們對業務發展的看法。

We have done -- the team has done a tremendous job, and I want to thank our team specifically for continuing to show up and deliver every day for our customers in all conditions and particularly now, and we're seeing that in the progress that we're making.

我們已經完成了——團隊已經完成了一項巨大的工作，我要特別感謝我們的團隊在各種條件下，特別是現在，繼續每天為我們的客戶提供服務，我們在進展中看到了這一點我們正在做。

I appreciate everyone's time.

我很感激每個人的時間。

I know this is a busy evening for you all.

我知道這對你們來說是一個忙碌的夜晚。

We'll have more time to spend with you in the coming days and weeks.

在接下來的幾天和幾週內，我們將有更多的時間與您共度時光。

And I hope everyone has a great evening.

我希望每個人都有一個美好的夜晚。

Ladies and gentlemen, that concludes today's call.

女士們、先生們，今天的電話會議到此結束。

Thank you all for joining.

感謝大家的加入。

You may now disconnect.

您現在可以斷開連線。