Thank you everybody for joining us here today. My name is Dylan Becker. I'm the research analyst at William Blair that covers Manhattan. We have Eric, Sanjeev, and Linda. We've got a full quorum here from the Manhattan side of the equation. For all of the necessary disclosures, you can find those on williamblair.com. Thank you all for joining us. I know that there's varying levels of familiarity, but there was a release earlier this week. Eric, to maybe just kind of start the conversation, if you could kind of give us a sense. I know you announced a small reduction in force, just kind of where you're seeing that operationally, what drove that, and how we should kind of be thinking about it.
Sure, yeah. We announced a small reduction in force, about 6% globally. Since I joined Manhattan at the beginning of last year, I've talked about investing more in sales and marketing, but not at the expense of lowering margin. We have always said we need to find areas in the business where we could reduce cost and invest more in things that would help us accelerate the cloud growth faster. One of the key areas that we looked at this time, as Linda stepped into her role as CFO, was, we have never, as a company, de-supported any product, and we're not changing that. We do have a number of legacy products that we have a shrinking number of customers running, because we have more and more of those customers moving to our cloud products.
This was about resetting the cost, primarily around those legacy products. We can continue to support and give those customers the same great support that they've always had on those products, but we saw an opportunity to reduce some of the spend around those.
Fantastic. Okay. Very helpful background. Now if we zoom out and step back, for those that are maybe not as familiar with the business, can you give us a sense of Manhattan, kind of the evolution of supply chain software and digitization, and kind of what you guys are seeing and the problems that you're solving?
Manhattan has been in the supply chain and commerce software business for more than 30 years, and started out really doing a lot of supply chain consulting, and that turned into building systems and then building on-prem systems, and about 12 years ago, started working on building the cloud solution. For the past 10 years, that's really been the key element of our growth as a company is that cloud business. That's what continues to drive our growth and more than 20% year-over-year growth in the cloud business across warehouse management, transportation management, Order Management, point of sale, and supply chain planning. Then, most recently with putting active AI agents into all of those products that have really accelerated growth again.
Fantastic. We'll definitely get into each of those components. Maybe from an industry perspective as well too, what's happened kind of for the secular shift around rising complexity, maybe a shift in consumer expectations and sentiment that's driving this digitization or modernization from the industry off of maybe what has otherwise historically served as legacy systems?
Yeah. I'll let you guys jump into this as well, but one of the things that we've seen, you look back over the past year, there's been a lot of noise in the market. We've had Liberation Day and tariffs that are on and off. We've had wars, we've had the SaaSpocalypse. What we've seen from our customers and our prospects is that they're kind of not getting too distracted by the headlines and really recognizing that supply chain is mission-critical, and it is strategic, and it is one of their differentiators. That's kind of resulted in, we continue to set record sales bookings quarters.
You kind of look at the last two quarters, calendar Q4 and Q1 were probably the noisiest in terms of war and SaaSpocalypse and what's AI going to do to software, and we had our best Q4 ever, followed by our best Q1 ever, and carried a lot of momentum into Q2, so we're pretty pleased with where we are.
Yeah, I think you added most of it. Just in general, since COVID days, supply chain has become a lot more known word. I think people are kind of asking us more than asking us less.
Sure. Maybe Sanjeev, for you've kind of been the architect of the shift to the cloud in some context. How you've seen that evolve, kind of the propensity of the buyer's willingness, if you will, to move to more modern systems?
Yeah. I think if we go back to our journey 10, 12 years back, our biggest strategic decision we made was to invest in a new platform and build it ground up, compared to everybody else who did a lift and shift to the cloud. In that point of time, we kind of decided that we will build everything as API-first headless. I think as you look into the new AI world, that has played out extremely well for us from that aspect. The second aspect, if we look through the various things which worked out in our favor well, was when we decided to rebuild this thing functionally, we took a little different approach of building this.
We kind of broke down the traditional boundaries of WMS, TMS, labor, slotting, all of those things, and we looked at it more at a capability perspective on what is the capability required and build them as a true microservices architecture. You have a unified commerce platform, supply chain commerce platform versus a WMS application or a TMS or a labor slotting. We still sell them that way, but underlying it is a unified platform. The third dimension to that as part of the journey, which kind of really helps, is how we actually build the platform. 12 years back, instead of writing traditional software or enterprise software, we decided to actually write a code generator and not write code directly. This is before AI, this is pre-AI, everything else. I've shared this data two weeks back at our conference.
We generate 75% of our code today and have been generating for the last 10 years. We generate about 45 million lines of code every night overall from the code base. The reason was not efficiency, really, when we did this thing. The core driver behind that was how do we keep up as changes come along? We knew that software will change and demands will change. The biggest thing which I obviously was very sure of is the user interface will completely change. We've seen that happen over the last 30 years, from green screens to mobile UIs, web mobile, the transitions happened over a period of time. That was one of the drivers when we wrote the generator saying, okay, we need to be ready for whatever comes next. Right? That has played out really well as we get into the AI space.
That I call what is our deterministic spine when we generate, so we can bring in anything else. It has become a lot easier to plug in AI, the probabilistic brain of AI, back into the deterministic spine.
Yep. It's probably a good going off point into AI as well, too. How that positions you to balance between those two, right? There's a lot of rules and configuration.
Yep
Deterministic necessity, if you will, in supply chain, but pairing that with the probabilistic capability of some of these new models.
That's another difference in approach we took. In supply chain world, at least, our customers will tell us is almost correct is equal to wrong. For that, you need to be very deterministic in actions you take, right? If you have to ship 100 somewhere and you ship 101, that can get us stuck, and you cannot really do those things. When you look at the AI native companies, they start from the point where you take an LLM and you throw a bunch of stuff at it, and it figures out what needs to be done, and that's kind of their starting position. Our starting position always was a very hybrid approach, of a lot of stuff has to be very deterministic. It doesn't need AI or a probabilistic thing.
Now, there are certain decision points you need in this workflow, where we can throw in an LLM and have it make decisions. There are a lot of places where we've built a lot of algorithms in the past, and those algorithms are as good, as anything else, and they have to be used to get at a very deterministic answer. That's been a big difference between our approach versus some of the approaches you will see being thrown out there. The good news is, even the people who are through that approach now are probably aligning with our point of view, is you need to bring in this determinism back into the AI, and you cannot throw everything on the probabilistic side of it.
I think another thing that we've seen in the market over the past several months is, for a long time you saw companies that were, I call it the fear of missing out, right?
Yeah.
They were trying to figure out how to use AI. They were creating leaderboards and then we saw the issues of token maxing, right? Now the conversation is how do we make sure we're getting value out of AI, and how do we make sure we're not overspending? We've done a lot of things in our platform.
Yep
You start with our platform based on the architecture that Sanjeev described is truly AI native. We're never talking to our customers about data lakes or data indexing projects or the latency and the security risks that come with all of that. When we're doing AI on our system, we're doing it using the same APIs that a human user would use. It doesn't introduce any new complexity, any new security threats, et cetera, and it allows a much faster time to value. When we turn on the AI-based agents, they can use them same day. We're seeing customers get real value in production right away. We've also created a dashboard so they can see that. They can see exactly which agents their teams are using and what value they're getting out of those agents.
Going back to, am I getting value out of the AI that I'm using? Finally, these agents are all smart enough to, again, to Sanjeev's point, look at what function should be done by that deterministic backbone of the platform that's based on decades of deep industry knowledge, and where should we be using probabilistic? When we do use probabilistic, which LLM should it use? Which LLM is most cost-effective? That also addresses the customer's concerns about what value they're getting. We're not out there trying to help them do token maxing. We're trying to make sure that they're getting ROI and proving the ROI.
Yeah. Well, this seems to be a general misconception in the market that you can throw AI at it, and it will solve every problem no matter what that is. And I think that's far from the truth. People will realize that it needs a structure, and the deterministic spine we built provides it that core structure, and then you can build the brain from the AI, which you can mix it up nicely and create a hybrid system, you'll get the best results.
You guys are already starting to see this, right? Maybe if we start to talk about your agentic deployments, the use cases that the customers are using these agents for, the ROI case studies that you're seeing from an early example perspective, and then I guess we'll flow to Linda on monetization of those. Yeah, I guess how are customers deploying agents actively today?
Sure. I'll start and then Linda can add to it. One is if you look at supply chain in general, it's an industry which deals with exceptions all the time, right? Most of the supply chain professionals on a day-to-day basis, the core of the job is find an exception, figure out how to solve that exception, resolve that issue, and then can get going. Sometimes those exceptions can take three, four, six, seven hours to resolve. By the time you can resolve that, the truck which is leaving that day has already missed the shipment. That's a pretty big cost. What we're seeing in some of these use cases is, these agents are able to help resolve those exceptions as soon as they really happen. That makes a huge difference, right?
If there's a problem with an order not getting allocated, somebody who's chasing that order allocation can take two, three hours, and by the time they figure out that the inventory is sitting in the receiving dock, the truck has already left, and you missed that shipment. If an agent can figure that out that this didn't get allocated and it's sitting there, and it can actually move that inventory from there to put away, you can make that shipment. That's a big difference we are seeing already in production, right? We're seeing customers who are increasing their shipments by anywhere from 6%-30%, which is a huge number in terms of the overall business metric they can achieve through these things. This is one example, right?
Supply chain is full of all the exception management, and that seems to be the biggest core theme we are seeing. There are other things we are doing with it from a user experience perspective.
From a productivity perspective and data insights. That probably, I would say from an ROI perspective, has been the biggest benefit people are seeing right now.
Maybe Linda, for you as well too, as you're deploying more agents in the field, how you guys are thinking about the monetization structure. I know we have the 90-day proof of concepts, get it in the hands of customers, let them identify the value, and then we'll figure out what that ROI ends up or I guess our take rate on that ROI. How are you thinking about monetization as we start to layer in more agents across the network?
Yeah. From a monetization perspective, we're basically going to be pricing this as a % uplift on their base subscription. We're using the pilot program as a way to figure out how much do they actually need. For example, if they only want to roll out one site or a small number of agents, at first, they might be able to select a lower tier, from a subscription standpoint. As they want to roll that out to more sites or they want to develop more agents, then they could choose to go up from there. We're giving them the flexibility depending on how much they want to use.
Sure. I'm sure that customers are clamoring once they see the value, to deploy more agents. There's probably a little bit of a data readiness problem that they have to solve first, I guess, as we talk about this modernization.
Yeah, I want to address it, but the question is more so like how is the conversation or the topic of AI incentivizing core system modernization for your warehouse management solutions?
Yeah. One part of it is as AI, that becomes one of the big carrots for customers who are not in our modern cloud platform.
Yeah.
It gives them one more incentive, one more reason to move to the cloud platform. We have stacked up the deck all along. Cloud platform is far more richer than our on-prem product was. You can add up, I think this can tip the scales easily on why they need to move to this thing. You kind of mentioned data readiness, and I kind of said before. One part of this, one big difference from our perspective really is when you start with a cloud platform, you're already ready. We can start you day zero when you say, "I want to turn this on." Any other approach you will see out there starts with, "Okay, you got this data. I'm going to create this data lake. I'm going to index this. I'm going to put the security.
I'm going to figure out how to get you ready. That could be a three, six-month, one-year project before you even start using it first time in production. The approach we took from an being API first, being headless. You can throw these agents and start using them day one. I think we took the whole data readiness question completely out of the mix.
Yep. That makes perfect sense.
Yeah.
In fact, a few weeks ago at our user conference, it was the largest ever attended conference by customers and by prospects, and we had a number of customers on one of our keynotes that shared their stories of how they're using our AI, and they kind of range from one customer that had been using it for three months to one that had been using it for only three weeks, but already finding that value and already justifying the ROI. I think that's one of the big differentiators that we've got is we're able to very quickly turn it on, show value, and justify the expense.
A big initiative since you've come on board as well, Eric, we talked about adding sales capacity and leaning into conversions off of the legacy on-prem base.
I guess, can you just dive into the nuances of where you're adding structured teams, how you think about those investments ramping and cross-selling, I guess?
Yeah. If you think about what we've done over the past few quarters from a sales standpoint, we've put more structure around, I call them the intersections. You think of all of our products, the deal types across conversions and new logo and renewals, we've made sure that we've got teams that are dedicated to those intersections, so that we're not overlooking anything and not having people too focused on the low-hanging fruit. What that's done is that's created the best pipeline we've ever had in most of those intersections. Take as an example Point of Sale, we now have people that are career Point-of-Sale people doing those sales opportunities as opposed to somebody that maybe has spent their whole career in warehouse trying to sell a product that's related.
That's put a whole lot more focus on building that pipeline and continues to drive those high win rates. We've talked about more than 70% win rate across all of those products. You mentioned conversion. Conversion was a big opportunity to create that dedicated team because in the past at Manhattan, we've always taken the approach of they'll convert to the cloud when they're ready. We decided it was the right time to get more proactive and more consultative with those customers and talk to them about not only the value of what they get on the cloud platform versus what they have today, but as we're introducing AI, that's probably the biggest step up. This is the biggest carrot we've ever seen of what they could have versus what they have.
The other thing that we're out there proactively talking to them about is they probably have this image in their head that conversion from the on-prem to the cloud is going to be something big and complex because that's what they're used to over the past many decades. When they were converting and upgrading on-prem products, those were big, complex, long, expensive projects. That's not that way anymore. We're committing to fixed timeline and fixed price conversions that are leveraging AI that we've built to auto-configure. We know exactly what they're running today. We know where they're going. We're seeing 40% decreases in the number of extensions. The extensions that we do have to write, we're writing twice as fast.
Just everything we're doing is much, much faster, which takes the risk out of them moving to the cloud and allows them to take advantage of the carrot that's out there and all of this new functionality, including the AI.
Yeah. It's effectively enabling customers to adopt and lean in more aggressively.
Exactly.
I guess on the professional services component, as you're moving to a fixed fee, I guess how should investors interpret that dynamic? In one angle, it's conviction and efficiency that you're seeing on the delivery side is reducing risk from the equation. How do you think about what that unlocks, maybe in being able to expand the scope or volume of projects that you're serving as well?
Yeah. What that unlocks is the ability to do a much higher volume at a much faster pace, which is driving faster cloud growth.
In Q4 of this year, our cloud revenue will surpass services revenue. Once it does, that gap is just going to get bigger and bigger. As you would expect, our cloud margins are bigger than our services margins. That's going to create the ability for us to accelerate margin growth even faster. This is just setting that process off and running. The fact that we are growing services revenue this year just tells you can assume that everything we're doing in services, we're doing it faster now than we were doing it a year ago. When we're growing services revenue, that means we're doing more volume, right? We've got more go lives, more new customers. 55% of our bookings over the past five quarters have been new logo. We just continue to put more and more new customers into the system.
Maybe what's the right way of thinking about what that kind of normalized balance looks like between each of those components, between conversions, new logos, expansions?
Yeah
55% from new in the most recent period.
Historically, Manhattan has always talked about thirds. About a third of the bookings will be new logo, a third will be, call it expansion within the cloud customer base, and one-third will be conversion from on-prem to the cloud. As I mentioned, the past five quarters, we've really been running really fast with new logo, and it's been 55% over the past five quarters. Our expectation is with the focus that we've put on cross-sell, upsell and conversion, that we would like to see it get back to thirds, not because that new logo is coming down. It's because we're driving even faster on conversions and cross-sell. We see the opportunity there. The other thing you have to think about is, past five quarters, 55% new logo, that's created more cross-sell/upsell opportunities.
Yeah.
There's just more and more opportunity out there for us every quarter.
Yep. You guys talk a fair bit about the idea of unification, right? Historically, have been more oriented on warehouse management. We have additional modules, I guess maybe Sanjeev and Eric as well too, but that kind of platform simplification, from a technology perspective, how customers are buying into that kind of unification vision, if you will.
I think, like I said, when we started the platform, we broke down the boundaries between what is a WMS and what is a TMS. For example, a shipment is a shipment. It can be used in WMS and TMS. When somebody who implements WMS with us is already more than half the way there with TMS functionality already in there, for them to turn on TMS becomes a lot more simpler task. We can kind of really articulate the value between their having as a single supply chain system versus having as a WMS and TMS, right? When you get an order down, typically, traditionally, a TMS would kind of plan that order out without knowing what's there in the warehouse. You do not know what the inventory is.
You get a plan, warehouse kicks 10% of it out, and now you got a not optimized truck leaving.
Right.
Versus this being a single system, when you can do the planning, you know exactly what you have from an inventory perspective, so you can plan accordingly. Chances of you shipping a truck at the right capacity levels are much higher, right? With all of those things, just pays for itself. You just take that particular single use case, and that can pay for your WMS and TMS together on what you would save on the transportation cost.
Sure. Yeah.
We're seeing every quarter more and more of the new logo customers are buying multi-products at one time. We introduced Warehouse Management in the Cloud a little over five years ago, so we're kind of in that natural renewal cycle of that. When we introduced Warehouse in the Cloud, we didn't have Transportation yet. That came later. You've got a big renewal cycle coming, where we expect to see a lot of these warehouse customers adding Transportation, because when we, again, when we look at new logo, about half of the customers that buy Warehouse as a new logo now also buy Transportation at the same time. It's a very natural connection. Then, we just launched Supply Chain Planning in the Cloud about a little over a year ago.
We're seeing that become a more and more common add-on to all of these products. Of course, Order Management and Point of Sale go very well together. We're seeing more and more of that unification.
Yeah
Story across multi-product customers.
I would think that has favorable kind of economic benefits as well too, around kind of stickiness option.
For sure.
I guess maybe from a platform differentiation perspective, right? It's kind of a competition question, I guess, to some extent, but I would assume that not many others can offer that full breadth of platform capability. I guess just how you think about that as a core differentiator?
Yeah. couple of things. There are companies who would give you the functionality, but the way that they load the functionality is through 16 systems put together, which makes this whole thing a lot more complex to implement, integrate, because it comes from basic integration. We've taken the word integration out completely, right? When you take software from us, it is a set of capabilities you take from us, and you use what you buy. It's all kind of done without any integration needs, right, as core microservices. That's one big difference from a platform capability. Like Eric mentioned about Omni, Order Management and POS customers. Our customers who are using our Order Management are already using POS, almost every component you require in POS, right? Turning that on POS is really getting the restaurant and start using the system.
it becomes a lot more simpler for them to move from one product to another product, because crossover is already in there.
Is that starting to show up? You kind of hinted at the renewal cycle dynamic, those customers coming up with the initial contract terms. Now you have more capability and resources to educate customers of the additional products that you have, but how that's maybe kind of trending from a dynamic of kind of customer cross-sell and upsell.
Again, last year, middle of the year, we put this dedicated renewal team in place, and the reason for that is exactly what you're talking about, is to make sure that, a couple of quarters before the renewal comes up, we're having the conversations about what are the natural cross-sells and upsells for that customer. What products should we be adding on, to make sure that we take maximum advantage of that renewal cycle. What we're seeing in our pipeline is.
The amount of cross-sell, up-sell at the time of renewal is significantly going up in the pipeline. Q1 was really our first quarter where we had this team in place, but we're already seeing that pipeline created across deals that are coming up for renewal even in Q3 and Q4.
The other thing with customers is when they start using one product of ours and get comfortable with it in a couple of years, they become a lot better believers in the overall system and the architecture, which creates the traction for the next set of products.
Sure. Maybe Linda, bringing you in here as well too. We've talked about a lot of the opportunity across all of these different segments and lines of business. Eric, I think, hinted at the fact that subscription revenue will surpass more than 50% of the overall business mix. How do you think about drawing down against that opportunity? What that can look like from a business perspective as it pertains to the growth profile, the profitability profile, the investments maybe in some of these platforms or products as well too?
I think, just as we think about the metrics of the business and what's important to keep an eye on, historically, investors have focused on RPO. I think a very important metric, just given our focus on accelerating cloud revenue growth, is going to be that ramped ARR metric that we introduced at the beginning of the year. What that's doing is looking at our contracted revenue in four years' time. Just as an example, at the end of 2025, that had grown 23% year-over-year. That just showcases, again, number 1, our visibility into our future cloud revenue, but also our ability to accelerate that growth.
That's definitely our main focus is trying to accelerate that, because I think as Eric mentioned as well, the cloud revenue does have a higher margin than our other items, and that will help us to accelerate or grow our operating margin.
Sure. Is there maybe a way to think about that too? These are multi-year committed contracts where there's an embedded ramp. We also talked about the fact of delivering faster, getting them online faster, how those converge, I guess, or thinking about what that convergence looks like between those two metrics.
When you think about when we sign a contract, the revenue starts to come to us as we deploy, right? When we sign a contract, we agree on a deployment schedule, and that revenue is going to ramp based on that schedule. If they get behind, the revenue still ramps. That is committed revenue. If we can move them faster, the revenue grows faster. I think we see a lot of scenarios where maybe a customer takes a conservative approach just in case they can't move fast enough. As we can help them move faster, they are very willing to move faster because they get their ROI faster. We just are really maximizing our opportunity to take advantage of accelerating revenue growth simply by deploying faster. It doesn't require any new sales. It just means we deploy faster.
Yep. Maybe part of the platform simplification as well too. I know traditionally you've catered to the larger enterprise types of retailers, and I guess manufacturers there. What does it mean in unlocking the incremental opportunity to maybe go a little bit more down market and grow the overall pie and your ability to simplify that space?
Yeah. We've always talked about we're focused on tier one and tier two, and tier one and tier two make up about 80% of the spend in the market. However, I think when you get to the lower areas of tier two, maybe we're not in all of those deals. Maybe there are some customers in that space that think Manhattan's been the leader in the Magic Quadrant for 18 years, but they're big and complex, because we're known for solving the biggest, most challenging deals. What we want to do is make sure that we can scale down very easily, and that part of that focus on speed and simplicity is if we can take time and dollars out of deployment, that takes down the total cost of ownership. That allows us to expand that addressable market and go deeper into the tier two.
That's been a focus for us, and I think in the second half, we'll have more announcements and put more clarity of how we're going to get even more focused on expanding that addressable market.
Sure. Maybe one other component, too. I know this has been an area of emphasis as well that you've been building, but what role do partners play in the educational component, obviously the delivery component, of getting the software and some of these additional modules and enhancements to customers?
Yeah. We've had a good set of partners for a long time, including technology partners and services partners. When it comes to services partners, we hadn't always had the best relationship with all of them. About a year ago, we changed our partner model and committed to them of, number 1, what we expect of them, and bottom line, we're expecting them to create pipeline and bring us deals and not just follow us around and look for services opportunity. When we do that, we made commitments to them about how we will help them win the deal and win that services. We're seeing a lot of partners really lean in and create new pipeline. In fact, we had one partner that just announced a program that they're putting in place.
Our big user conference in the U.S. is called Momentum, and we follow that up with user conferences in EMEA and APAC that we call Exchange. As a lead up to EMEA Exchange, they're doing a six-city tour where they're inviting prospects that are currently customers of our competitors coming up on renewal cycles to educate them on Manhattan Active and ultimately get a bigger audience of prospects at Exchange ready to make purchasing decisions by Exchange. We've got a whole new focus from our partner ecosystem on creating that pipeline. A lot of our partners have relationships with that tier two type of customer, right? We're seeing new deals that we wouldn't have otherwise seen.
Fantastic. I know we're coming up on time here, maybe one other way to exit the conversation. We've talked a lot about different factors that are driving momentum and enthusiasm in the business. Maybe one for each of you, maybe from an industry perspective, from a technological perspective, and from a financial perspective. Everything that we've discussed today, what excites you most? What are you most enthused about the opportunity ahead for Manhattan as we think about this compounding financial profile of the business?
Yeah, maybe I'll take the industry perspective. I think it's quite exciting to see, I mentioned it earlier
Best Q4 we've ever had from a sales perspective, the best Q1 we've ever had from a sales perspective, during some times where there's a lot of turmoil in the market. I think it just really shows that customers understand that supply chain is mission-critical, and they are investing in this. When they look at this, I mentioned, 70% win rates. Nobody has invested like we have. Nobody else has the platform that we have. When they look at this market, they're overwhelmingly coming to Manhattan.
Yeah. I'll go from the technology perspective. When you think about enterprise software and you think about four years, five years from now on what will differentiate enterprise software from each other, I define it simply as it'll be measured in terms of its IQ, the autonomous part, and how much it can automate and bring intelligence, and its EQ, which is really the contextual intelligence and software adapting to users versus users adapting to software. I think that's my measure of how do you see software, enterprise software, how do you measure software five years from now? What is exciting for me really is all the work we have done over the last 10 years, building the deterministic spine, is bringing the AI into it, the probabilistic part of it, and delivering that intelligent software of the future.
Yeah, I think on the financial side, what's the most exciting is obviously our goal, like we've stated, is to accelerate our cloud revenue growth. What's exciting is that we have multiple ways that we can do that. We have a lot of good programs that we've put in place between our product specialists on the sales side, our new focus on renewals and conversions, and specialized programs for those, as well as obviously having top products, new exciting features we're adding. Yeah, we're excited that we moving ahead.
Fantastic. Thank you all.
Sure
for the conversation. Appreciate it. We will carry on the conversation for those interested upstairs here, I believe it's in the Richardson room, in the next five, 10 minutes or so