David Hynes • Canaccord Genuity

Answer

CFO Eliran Glazer clarified that the 30% headcount growth in fiscal 2025 is a strategic investment to capture the current market opportunity. He stated that the pace of hiring is expected to decelerate in the second half of the year and become more moderate going into fiscal 2026, as the company will have the necessary resources in place.

Ask Fintool Equity Research AI

Answer

CFO Eliran Glazer stated that underlying NRR trends are now 'more stable,' as the impact from price increases was primarily felt last year. Co-CEO Eran Zinman added that while CRM and Dev products are not yet mature enough for large enterprise cross-sell, monday service is showing surprising momentum and adoption potential within these larger accounts.

Ask Fintool Equity Research AI

Answer

co-CEO Roy Mann outlined a two-pronged strategy: first, to deepen the functionality of each existing product to become a full suite (e.g., adding a marketing solution to the CRM). Second, to deeply embed AI within each product to accelerate its core value, such as using AI to make project management more predictable and help CRM users sell more effectively.

Ask Fintool Equity Research AI

Answer

Co-CEO Eran Zinman reported continued great momentum in the partner ecosystem, noting that partners are increasingly delivering services and specializing in specific products like CRM and dev. He clarified that monday Service is currently positioned for internal use cases, not external customer support. The demand is broad across departments like IT, HR, operations, and finance, not just for IT service management.

Ask Fintool Equity Research AI

Answer

CFO Joe Binz stated that the immediate focus for Rovo is on driving usage and engagement, with monetization being a longer-term consideration; FY26 guidance assumes only nominal revenue. CEO Mike Cannon-Brookes added that monetization is already occurring indirectly through the uplift from the Teamwork Collection, which includes AI credits, and through strong growth in Premium and Enterprise editions. He noted that while direct consumption models are possible, the primary benefit is driving adoption of the broader platform.

Ask Fintool Equity Research AI

Answer

CFO Joe Binz clarified that the immediate focus for Rovo is driving deployment and usage, with only nominal revenue assumed in the FY26 plan. CEO & Co-Founder Mike Cannon-Brookes added that monetization is already occurring indirectly through the Teamwork Collection, which includes a large bundle of AI credits and is a key driver for upgrades. He also mentioned other vectors like consumption-based pricing and potential future SKUs, but reiterated that driving usage is the current priority.

Ask Fintool Equity Research AI

Answer

CFO Joe Binz explained the 7% growth guidance reflects pricing and expansion, offset by macro uncertainty, cloud migrations, and a difficult year-over-year comparison due to the prior year's server end-of-support event. He noted that the impact of recent price increases has been predictable and is already factored into the forecast, with no unusual customer behavior observed to date.

Ask Fintool Equity Research AI

Answer

CEO Eric Friedrichsen clarified the services strategy is not about driving services revenue but about educating customers on DISCO's full capabilities to win larger software deals. CFO Michael LaFaire and Friedrichsen confirmed the 2026 EBITDA breakeven goal remains, supported by revenue growth assumptions and relatively flat expenses, while still allowing for strategic investments to accelerate growth towards a 20%+ target.

Ask Fintool Equity Research AI

Answer

CEO Eric Friedrichsen explained that after a year of foundational changes to culture, operations, and go-to-market, the focus is now on high-level execution of that strategy. He clarified that the "With You In Every Case" tagline is meant to communicate DISCO's dual strengths: an easy-to-use, self-service platform for some matters, and a robust, expert services team for larger, more complex cases, ensuring customers see them as a comprehensive partner.

Ask Fintool Equity Research AI

Answer

CEO Ryan Barretto confirmed NewsWhip does access new media sources, focusing on news publications to identify trending articles for crisis management. He described NewsWhip as an enterprise product with a price point 'multiples bigger' than Sprout's average deal size, fitting well within the company's enterprise sales motion.

Ask Fintool Equity Research AI

Answer

CFO Joe Del Preto explained that while the 21% year-over-year cRPO growth was positive, the sequential number is affected by Q4-to-Q1 seasonality and the month-to-month business. He confirmed that gross retention was strong and improved quarter-over-quarter across the entire customer base, not just in enterprise.

Ask Fintool Equity Research AI

Answer

CEO Ryan Barretto confirmed that the pipeline grew year-over-year in Q4, particularly in the enterprise segment, driven by focused initiatives. CFO Joe Del Preto explained the margin guidance reflects a strategy to maintain flexibility for investments, a consistent approach for the company. He added that revenue overperformance would likely lead to incremental leverage, as demonstrated in past years.

Ask Fintool Equity Research AI

Answer

CEO Ryan Barretto explained that enterprise customers primarily need features Sprout is already delivering and enhancing, such as high-volume handling, rapid onboarding, deep workflow, security, and AI-driven productivity. Regarding Salesforce, Barretto confirmed a significant opportunity remains, noting Sprout has won the vast majority of deals it has seen and highlighted the ongoing partnership, including being a launch partner for Agentforce.

Ask Fintool Equity Research AI

Answer

CEO Aman Narang stated that Toast is primarily displacing legacy on-premise systems, making modern cloud technology the key differentiator over price. CFO Elena Gomez added that these wins are the result of multi-year product investments and that a large rollout can take one to two years to fully implement, with some locations going live shortly after the deal is signed.

Ask Fintool Equity Research AI

Answer

CEO Aman Narang highlighted recent enterprise wins like Hilton and Perkins, attributing the momentum to platform maturation in areas like APIs and enterprise-grade configuration management. CFO Elena Gomez noted that while it's early for the retail segment, the economics are healthy, and the industry's higher average GPV suggests strong potential for ARPU and long-term ARR growth.

Ask Fintool Equity Research AI

Answer

Co-Founder and CEO Andrew Bialecki stated that he sees no real competition, but rather an opportunity for collaboration. He explained that Klaviyo is in a 'rush' to help all its customers deploy personal AI agents, a capability not yet widely available. He views partners as an accelerant to this shared mission, not a source of conflict.

Ask Fintool Equity Research AI

Answer

CEO Andrew Bialecki outlined three key areas of ambitious investment: 1) Expanding the use of AI and machine learning for content automation; 2) Accelerating the push into mid-market and enterprise with a modern, data-first platform; and 3) Broadening the B2C CRM platform with new channels and applications, particularly in the large service market.

Ask Fintool Equity Research AI

Answer

Co-Founder and CEO Andrew Bialecki described the Shopify relationship as very strong and symbiotic, noting some brands adopt Klaviyo before moving to Shopify. He positioned the new WooCommerce partnership as serving a more international and varied customer base. CFO Amanda Whalen added that many of Shopify's large enterprise wins, like Reebok and Champion, are also strong Klaviyo customers.

Ask Fintool Equity Research AI

Answer

CEO Andrew Bialecki explained that all three primary acquisition channels are performing well. He highlighted particular strength in the entrepreneur segment, driven by inbound and platform partners like Shopify, and noted the direct sales team is gaining significant traction with mid-market and enterprise brands.

Ask Fintool Equity Research AI

Answer

CFO Howard Fu attributed the improved cross-sell mix to broad execution, including the new technical specialists and product progress, not lower volume. CEO Craig Courtemanche confirmed volume was not down and that customer feedback on the new model is positive. Regarding cash flow, Fu advised against focusing on quarterly fluctuations, stating the company is on track for its full-year targets.

Ask Fintool Equity Research AI

Answer

CEO Craig Courtemanche and CFO Howard Fu stated the transition is proceeding as planned, with learnings centered on change management and communication. They are where they expected to be and anticipate benefits in the second half of the year. Howard Fu clarified that the S&M spending decrease was due to one-time investments in late 2024 that did not recur, and the primary focus remains on optimizing free cash flow per share.

Ask Fintool Equity Research AI

Answer

CEO Tooey Courtemanche described enthusiasm from the sales team and customers about the new model but stressed that the company is now in the critical execution phase, with disruption expected in H1 2025. CFO Howard Fu noted that productivity should pick up in the second half of the year but declined to provide specific quarterly growth shaping, reiterating the focus is on successful execution in Q1 and Q2.

Ask Fintool Equity Research AI

Answer

Howard Fu, an executive, clarified that the fiscal 2025 guidance is an early and intentionally conservative floor, factoring in the ongoing go-to-market transition. He added that customer cohorts from the past year have shown consistent behavior, with expansion rates remaining steady but still below historical pre-downturn levels.

Ask Fintool Equity Research AI

Answer

CEO & Chairman Mike Burkland explained that the non-AI business continues to grow, indicating customers are not reducing agent counts. He stated the primary enterprise strategy is using AI to manage agent growth, not replace staff. He noted customers are deflecting 5-10% of voice interactions, and the bear thesis of mass agent reduction is not materializing in their results.

Ask Fintool Equity Research AI

Answer

CEO Michael Burkland explained that Five9's platform acts as a crucial control point for contextual data, making it a winner regardless of which AI is used. He detailed that if a customer uses a third-party AI, Five9 monetizes access to its data through 'voice stream and transcript stream,' a consumption-based model that generates approximately $40 to $50 per month per AI agent.

Ask Fintool Equity Research AI

Answer

Executive Michael Burkland stated that AI is central to customer experience discussions, expanding Five9's total addressable market. He noted customers use AI for both labor savings and as an additive enhancement for human agents. Executive Andy Dignan added that while IVA was the initial driver of AI bookings, Agent Assist is now showing significant growth.

Ask Fintool Equity Research AI

Answer

CEO and President Dennis Woodside stated the strategy involves leveraging early adopters, showcasing success stories, and introducing new products to navigate the natural AI adoption curve. COO and CFO Tyler Sloat explained that the company is no longer breaking out the organic growth for the EX business because the Device 42 offering is now highly integrated into the overall sales motion.

Ask Fintool Equity Research AI

Answer

CEO Dennis Woodside explained the $50k+ customer metric was affected by a disproportionate FX impact, lapping a strong prior year quarter, and a trend of landing fewer but larger deals, noting that ARPA for this cohort is up. He expressed excitement for the Unisys partnership, highlighting that Unisys chose Freshservice after a year-long review to build a service line for its mid-market customers. Woodside also mentioned ongoing product investments to enhance MSP-specific functionality.

Ask Fintool Equity Research AI

Answer

CEO and President Dennis Woodside outlined a clear product roadmap for Device42, with an improved integration coming in Q1 and a cloud version planned for late 2025. He noted the go-to-market focus is on building a cross-sell pipeline, which has significantly increased demand. Regarding seat counts, he confirmed that overall agent seats are growing, as customers adopt a mix of AI and human agents, but did not provide a specific breakout for the self-service cohort.

Ask Fintool Equity Research AI

Answer

CEO Bill Magnuson explained that OfferFit drives value through enhanced relevance and demonstrable ROI, enabling value-based selling, rather than simply increasing message volume. CFO Isabelle Winkles specified that the $325 million acquisition consists of 42% equity and the remainder in cash.

Ask Fintool Equity Research AI

Answer

CEO Bill Magnuson clarified that Braze partners with CDPs to manage data complexity from diverse customer ecosystems, aiming to get data into Braze efficiently rather than replace the entire data stack. Regarding the free trial, he explained its purpose is to allow technical stakeholders to validate Braze's performance and reliability, which helps differentiate it from competitors and is increasingly table stakes in enterprise evaluations.

Ask Fintool Equity Research AI

Answer

President Vahe Kuzoyan clarified that ServiceTitan focuses on specialty trade subcontractors, not general contractors, suggesting a potential for partnership with firms like Procore rather than direct competition. CFO Dave Sherry stated that the stabilization trend in NRR continued and customers expanded faster, but did not provide a specific number or confirm an upward trend.

Ask Fintool Equity Research AI

Answer

CFO Dave Sherry explained that due to significant geographic diversification of Gross Transaction Volume (GTV), natural disasters have not historically had a material impact on the business. Regarding cash flow, he noted Q3 was strong due to operating income performance and favorable working capital. For Q4, he expects positive free cash flow to be roughly in line with or slightly ahead of guided non-GAAP operating income.

Ask Fintool Equity Research AI

Answer

CEO John Strosahl reported that the Azure marketplace launch is showing encouraging early signs, with strong partner engagement from Microsoft, similar to the success seen with AWS. He also explained that Jamf closely monitors device enrollment and is not concerned about significant shelfware, expecting to benefit from a hiring recovery without a major lag, though noting device expansion is just one of several growth levers.

Ask Fintool Equity Research AI

Answer

CEO David Steinberg attributed the strong agency momentum to Zeta being a highly profitable partner, as bundling data with activation lowers agency costs by an average of 25%. This is driving significant volume and provides strong visibility for 2025. Regarding creative AI, Steinberg clarified that the goal is not to compete with agencies but to support them by using AI to optimize their existing creative assets for different devices and improve conversion rates.

Ask Fintool Equity Research AI

Answer

CEO David Steinberg described the publisher cloud as the next major growth opportunity, designed to integrate the SSP, DSP, and data cloud to boost publisher yield. CFO Christopher Greiner clarified that excluding political revenue, ARPU growth would still be in the mid-20s, higher than the previous quarter, driven by channel adoption, use case expansion, and agency mix.

Ask Fintool Equity Research AI

Answer

Executive Dharmesh Shah explained that composability and agent collaboration will be critical. He positioned HubSpot's agent.ai as the key network where builders will aggregate due to its access to users and rich, contextual data. He noted agent.ai's user base had surged to over 900,000, positioning HubSpot to become the dominant agent platform for SMBs.

Ask Fintool Equity Research AI

Answer

EVP of Strategy Paul Shawah noted that Salesforce remains the primary competitor, which is expected and not a change in frequency, especially as IQVIA has exited the market. CFO Brian Van Wagener clarified that the TFC impact is mainly on revenue, affecting the year-over-year growth rate by about 2 percentage points, with a smaller effect on margins.

Ask Fintool Equity Research AI

Answer

President Matt Feierstein attributed the growth in multi-product enablement to a more integrated go-to-market and sales motion, where embedded offerings like payments and Edge are discussed upfront. CEO Eric Remer explained that PE consolidation is not significantly impacting their core market of smaller contractors (1-10 trucks) and that for larger customers, EverCommerce is well-positioned to be a net beneficiary.

Ask Fintool Equity Research AI

Answer

President Harley Finkelstein detailed recent B2B feature releases, including product bundles, improved conversion tracking, and Shopify Flow automation templates. He noted that while growth initially came from existing DTC merchants adding a B2B channel, Shopify is now attracting exclusively B2B merchants, who sometimes expand into DTC later, reinforcing the value of its unified platform.

Ask Fintool Equity Research AI