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    Jeff Van Rhee

    Managing Director and Senior Research Analyst at Craig-Hallum Capital Group LLC

    Jeff Van Rhee is a Managing Director and Senior Research Analyst at Craig-Hallum Capital Group LLC, specializing in enterprise software and technology research. He covers a broad array of companies including Paylocity, Veeva Systems, Alteryx, SPS Commerce, and Upland Software, and is recognized for his strong track record with a success rate of approximately 62% and an average annual return exceeding 13% on TipRanks. Van Rhee began his analytical career in the early 2000s and joined Craig-Hallum in 2002, having previously worked as an auditor at Deloitte & Touche. He holds multiple FINRA securities licenses including Series 7, 24, 63, 86, and 87, and is consistently ranked among the top financial software analysts for his well-researched investment calls.

    Jeff Van Rhee's questions to Digimarc (DMRC) leadership

    Jeff Van Rhee's questions to Digimarc (DMRC) leadership • Q2 2025

    Question

    Jeff Van Rhee of Craig-Hallum Capital Group LLC inquired about Digimarc's operating expense run rate, future visibility for the Central Bank business, and the financial impact of a new European customer contract.

    Answer

    CFO Charles Beck stated that the Q2 non-GAAP operating expense was $8.9 million and is expected to decline further. He also noted that the company has 12-18 months of visibility into the Central Bank business and would disclose any material changes, implying a stable outlook. Beck confirmed the new European deal was signed in Q2 and is included in the reported ARR, with potential for future upsells. CEO Riley McCormack added that more non-headcount savings are still to be realized.

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    Jeff Van Rhee's questions to Digimarc (DMRC) leadership • Q1 2025

    Question

    Jeff Van Rhee inquired about the expected ARR trajectory for the remainder of the year, the pricing model and total addressable market (TAM) for the gift card solution, and the current percentage of ARR derived from the three primary focus areas.

    Answer

    CFO Charles Beck directed attention to previous statements about reaching non-GAAP profitability by Q4 and reiterated that the gift card opportunity will be a significant ARR driver in 2025. CEO Riley McCormack confirmed the U.S. gift card TAM remains between $900 million and $1.5 billion, with growth vectors including future pricing upside, new product features, and international expansion. Regarding ARR composition, Beck stated that the company does not quantify the breakdown of ARR by its specific focus areas.

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    Jeff Van Rhee's questions to Digimarc (DMRC) leadership • Q4 2024

    Question

    Jeff Van Rhee sought clarity on the status of the previously lapsed $5.8 million contract, the reasons for the $3.7 million DRS contract lapsing, and the implications of management's statement about budgeting for churn and aggressive pricing on certain renewals.

    Answer

    CEO Riley McCormack stated that conversations with the customer regarding the $5.8 million contract are ongoing. He clarified the $3.7 million DRS contract lapsed due to a government program change, not an issue with Digimarc's technology or partner relationship. He explained that comments on churn and pricing reflect conservative budgeting to ensure the company reaches its profitability goals.

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    Jeff Van Rhee's questions to Digimarc (DMRC) leadership • Q3 2024

    Question

    Jeff Van Rhee asked how the large customer is operating during its contract gap, sought an update on large recycling deals in Europe, and questioned the cause of the year-over-year decline in the typically stable government service revenue.

    Answer

    CEO Riley McCormack explained that a contract gap for one service doesn't halt all platform access for a customer with multiple contracts. He reiterated his preference for negotiating a broader scope over a short-term extension. On Europe, he noted positive industry momentum but deferred a full update. CFO Charles Beck attributed the government revenue dip to the timing of internal resource allocation based on commercial business priorities.

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    Jeff Van Rhee's questions to Cellebrite DI (CLBT) leadership

    Jeff Van Rhee's questions to Cellebrite DI (CLBT) leadership • Q2 2025

    Question

    Jeff Van Rhee from Craig-Hallum Capital Group asked CEO Tom Hogan to elaborate on his evolving vision for leveraging AI, both for internal efficiencies and external product differentiation.

    Answer

    CEO Thomas Hogan described a dual AI strategy. Internally, AI is being used across all functions like R&D and sales to drive productivity. Externally, he outlined an ambitious vision to use GenAI to analyze diverse evidentiary data sources, creating significant new value for investigators and expanding the company's total addressable market. CRO Marcus Jewell added that the focus is on delivering better outcomes, not just adding an LLM to the product.

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    Jeff Van Rhee's questions to Cellebrite DI (CLBT) leadership • Q1 2025

    Question

    Jeff Van Rhee asked for an update on the timing for FedRAMP certification and inquired about the strategic purpose and outcomes of the recent executive team trips to the U.K. and Germany.

    Answer

    Interim CEO Thomas Hogan stated that the company is still targeting a Q3 Authorization to Operate (ATO) for FedRAMP. He explained they have achieved Level 4 readiness but are awaiting an agency sponsor, a process delayed by federal budget activities. Regarding the EMEA trips, Hogan explained they were designed to demonstrate Cellebrite's commitment as a global company, allowing leadership to meet directly with key customers, prospects, and employees in London and Munich to reinforce their presence and gather feedback.

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    Jeff Van Rhee's questions to Cellebrite DI (CLBT) leadership • Q4 2024

    Question

    Jeff Van Rhee requested more detail on the FedRAMP opportunity, asking what it adds to Cellebrite's existing federal presence. He also asked for an assessment of how developed the company's sales methodology is for penetrating the 'investigative unit' TAM.

    Answer

    Interim CEO Thomas Hogan stated that achieving FedRAMP 'High' certification, which is in its final stages, is expected to roughly double the company's Total Addressable Market (TAM) in the federal sector. Chief Revenue Officer Marcus Jewell described the investigative unit penetration strategy as being in the 'mid-innings,' with a proven thesis but ongoing tuning required before it becomes a fully repeatable sales motion, which he expects in 2026.

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    Jeff Van Rhee's questions to Cellebrite DI (CLBT) leadership • Q3 2024

    Question

    Jeff Van Rhee of Craig-Hallum Capital Group inquired about 2025 adoption expectations for the Insights platform, trends in 'unlock' capabilities, and the adoption profile for the Pathfinder solution, including the impact of its AWS deployment.

    Answer

    CEO Yossi Carmil and CFO Dana Gerner described the C2C platform adoption as being in its 'very early days' with a three-year conversion goal for Insights. They noted that advanced unlock solutions have penetrated about 30% of the installed base, leaving significant room for growth. For Pathfinder, they expect 35-50% YoY growth, with the AWS deployment aimed at making the solution accessible to a broader customer base beyond large agencies.

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    Jeff Van Rhee's questions to Intellicheck (IDN) leadership

    Jeff Van Rhee's questions to Intellicheck (IDN) leadership • Q2 2025

    Question

    Jeff Van Rhee of Craig-Hallum Capital Group LLC asked about the large bank and credit card issuer's prior revenue run-rate before the new mid-seven-figure contract. He also inquired about retail trends so far in Q3, sought a recap of the new channel partner initiative for credit unions, and asked what was learned from the initial, brief transaction volumes from the large social media client.

    Answer

    President, CEO & Director Bryan Lewis stated the large bank's prior revenue was slightly lower but had been expanding rapidly, with the new tiered contract designed to add predictability. On retail, he felt the sector was at or near a bottom. Lewis detailed the new channel strategy of partnering with core banking software providers to reach smaller banks and credit unions, highlighting the first $20 billion credit union signed through this model. Regarding the social media client, he confirmed the initial volumes were at the large scale they had anticipated, validating the opportunity, before a technical issue on the client's end halted processing.

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    Jeff Van Rhee's questions to Intellicheck (IDN) leadership • Q1 2025

    Question

    Jeff Van Rhee asked for leading indicator metrics like pipeline value, the rationale for hiring new SVP of Sales Tim Poulin, the profile of new sales hires, the pipeline split between direct and resellers, and the current digital revenue mix.

    Answer

    Executive Bryan Lewis stated that while not providing specific pipeline values, committed ARR from new customers underpins the company's confidence in future cash flow. He hired Tim Poulin for his aligned sales philosophy and strong external validation. The newest sales hires are senior enterprise professionals. Lewis estimated the pipeline ARR is nearly a 50-50 split between direct and resellers in key markets. He confirmed digital is a large, growing portion of revenue but did not provide a specific percentage.

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    Jeff Van Rhee's questions to LIVEPERSON (LPSN) leadership

    Jeff Van Rhee's questions to LIVEPERSON (LPSN) leadership • Q2 2025

    Question

    Jeff Van Rhee of Craig-Hallum Capital Group LLC inquired about LivePerson's new logo capture, win rates against new AI competitors, and the nature of renewal pressures, particularly with large customers.

    Answer

    CEO John Sabino stated that win rates remain consistent, but deal closures are being delayed or rescoped rather than lost to platform competitors. He acknowledged increased headwinds from smaller, specialized AI bot providers. Sabino confirmed that renewal hesitation came from larger enterprise customers concerned about the company's financial stability, which the recent refinancing aims to resolve.

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    Jeff Van Rhee's questions to LIVEPERSON (LPSN) leadership • Q4 2024

    Question

    Jeff Van Rhee inquired about LivePerson's 2025 partner attach goal, the progress of its Avaya partnership, the strategy behind its Sales & Marketing spending, and any updates on its debt refinancing plans.

    Answer

    CEO John Sabino clarified the 35% partner attach goal refers to total bookings value, a significant increase from current levels. He noted positive momentum with the Avaya partnership and explained that upcoming Cisco and Amazon Connect integrations aim to capture a larger voice market share. CFO and COO John Collins addressed spending, stating there is no incremental S&M investment relative to 2024; rather, it's a strategic allocation within a reduced overall cost structure to support growth. Collins also confirmed there were no new updates on the debt situation but expects developments later in the year.

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    Jeff Van Rhee's questions to LIVEPERSON (LPSN) leadership • Q3 2024

    Question

    Jeff Van Rhee from Needham & Company, LLC questioned the revised timeline for ARR bottoming, asking what became more challenging with customer renewals, and inquired about the progress of the new sales motion relative to prior expectations.

    Answer

    CEO John Sabino explained that improved health and adoption scoring provided greater insight into churn risk, revealing that a few key renewals impacted by past instability were unlikely to be saved. He clarified this was a refinement based on better data, not a material change in business conditions. Sabino also stated the new sales motion is ramping as fast as, or slightly faster than, expected, with new pricing and the Avaya partnership shortening deal cycles and increasing deal sizes.

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    Jeff Van Rhee's questions to Rocket Lab (RKLB) leadership

    Jeff Van Rhee's questions to Rocket Lab (RKLB) leadership • Q2 2025

    Question

    Jeff Van Rhee asked about the progress of the Space Systems segment towards its ultimate vision, the status of its 40% gross margin target, and the current production scale for the Neutron rocket.

    Answer

    CEO Sir Peter Beck explained that the Space Systems component 'toolbox' is nearly complete, with the focus now shifting to adding payload capabilities like those from GEOST. CFO Adam Spice suggested the 40% gross margin target was perhaps modest, with 40-45% being a realistic goal. Regarding production, Beck stated they are building multiple Neutron vehicles now and are targeting the capacity to build three Stage 1 structures next year.

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    Jeff Van Rhee's questions to Intuitive Machines (LUNR) leadership

    Jeff Van Rhee's questions to Intuitive Machines (LUNR) leadership • Q2 2025

    Question

    Jeff Van Rhee from Craig-Hallum Capital Group sought more detail on the constellation management experience of the acquired company, Kinetics. He also asked about the long-term revenue and margin profile of the NSNS contract and the competitive barriers to entry.

    Answer

    CEO Steve Altemus detailed that Kinetics has proprietary software and experience managing commercial constellations like Iridium and the national security MUOS program. He described the NSNS contract as having a "wide and deep moat" as Intuitive Machines is the sole awardee with no on-ramps. He noted that higher-margin operational task orders for data services will begin once the ground and space hardware is deployed.

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    Jeff Van Rhee's questions to Backblaze (BLZE) leadership

    Jeff Van Rhee's questions to Backblaze (BLZE) leadership • Q2 2025

    Question

    Jeff Van Rhee inquired about the new seven-figure AI customer, the pipeline development for the B2 OverDrive product, and the progress of channel partnership efforts.

    Answer

    Co-Founder and CEO Gleb Budman clarified that the seven-figure customer was an existing AI company whose data needs grew significantly. He noted the B2 OverDrive customer was a displacement from a hyperscaler, driven by egress fees and performance needs, and that the OverDrive pipeline includes about a dozen multi-petabyte opportunities. Budman also stated that while AI deals are often direct, the channel is seeing increasing lead value and closed business.

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    Jeff Van Rhee's questions to Backblaze (BLZE) leadership • Q1 2025

    Question

    Jeff Van Rhee inquired about the specific impact of AI on revenue and the pipeline, the progress of the B2 enterprise sales motion, and the outlook for equity dilution and capitalized software.

    Answer

    CEO Gleb Budman highlighted that AI is the fastest-growing business segment, with its largest customer being an AI company. He noted the go-to-market transformation is showing progress with doubled sales bookings but requires more work on partnerships and demand generation. CFO Marc Suidan added that while specific dilution targets are not yet set, it is a key focus. He also explained that total R&D investment is steady in absolute dollars, leading to improved efficiency as a percentage of revenue.

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    Jeff Van Rhee's questions to Backblaze (BLZE) leadership • Q4 2024

    Question

    Jeff Van Rhee inquired about the key metrics for the partner program in 2025, the long-term growth outlook for the B2 and Computer Backup segments, and the expected progression of gross margins.

    Answer

    CEO Gleb Budman explained that partner metrics focus on pipeline and sales productivity for the channel, and co-build/co-sell solutions for alliances. CFO Marc Suidan projected B2 growth to exceed 30% post-2025, while Computer Backup would be flattish for the year, exiting at -2%. Suidan also stated that gross margins should remain stable around 78%.

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    Jeff Van Rhee's questions to Backblaze (BLZE) leadership • Q3 2024

    Question

    Jeff Van Rhee inquired about the specifics of B2 Cloud Storage churn, the potential for moving further upmarket, and sought clarification on whether the projected revenue acceleration after Q2 2025 applies to the total business or just the B2 segment.

    Answer

    CEO Gleb Budman explained that the churn occurred early in the quarter from a few expected customers but that overall retention metrics remained strong. He sees no specific limit to moving upmarket, citing recent multi-year, million-dollar deals. CFO Marc Suidan clarified that while B2 is the primary growth driver, the revenue acceleration reflects the time it will take for leading indicators from the go-to-market transformation, like the record sales pipeline, to translate into reported revenue.

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    Jeff Van Rhee's questions to Cerence (CRNC) leadership

    Jeff Van Rhee's questions to Cerence (CRNC) leadership • Q3 2025

    Question

    Jeff Van Rhee of Craig-Hallum Capital Group LLC inquired about trends in connected product usage, Cerence's AI differentiation against big tech, current market share trends, and the expected consumption of prepaid licenses for fiscal 2026.

    Answer

    CEO Brian Krzanich highlighted Cerence's key differentiators as its leading multimodal technology and its open, agnostic architecture, which prevents OEM lock-in. He stated that market share is currently holding flat. CFO Tony Rodriguez noted that prepaid license consumption was about $9 million in Q3 and is expected to decline year-over-year as the company moves away from large fixed contracts, making $20 million in new fixed deals the new annual expectation.

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    Jeff Van Rhee's questions to Cerence (CRNC) leadership • Q4 2024

    Question

    Jeff Van Rhee inquired about the economics of Cerence's new generative AI solutions, specifically the margin profile and the magnitude of the pricing uplift. He also questioned the company's competitive position in connected services and asked for the new CEO's assessment of why the company has struggled with growth over the past five years.

    Answer

    CEO Brian Krzanich stated that generative AI solutions command a price uplift and improved margins, as development costs are similar to current models. He highlighted Cerence's competitive advantage in its automotive specialization, neutrality, and ability to customize OEM experiences. Interim CFO Antonio Rodriquez added that margin benefits from new connected bookings will be more visible in FY26. Krzanich attributed future growth to LLMs speeding up product development from 8-12 months down to 4 months.

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    Jeff Van Rhee's questions to Rimini Street (RMNI) leadership

    Jeff Van Rhee's questions to Rimini Street (RMNI) leadership • Q2 2025

    Question

    Jeff Van Rhee of Craig-Hallum Capital Group LLC inquired about the performance outlook for the second half of the year, the reasons for improved client retention, the potential revenue contribution from channels and ServiceNow, and plans for capital returns like stock buybacks.

    Answer

    CEO Seth Ravin reiterated the company's goal of achieving 'Rule of 40' performance through top-line growth and improved profitability, pointing to positive trends like a 6% adjusted billings growth ex-PeopleSoft for the first half. He attributed improved retention to better sales execution rather than the recent settlement. He also stated a goal for partnerships to generate at least 10% of the sales pipeline. CFO Michael Perica confirmed a $50 million buyback authorization and mentioned that inorganic growth opportunities are also being considered with the company's improved cash position.

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    Jeff Van Rhee's questions to Rimini Street (RMNI) leadership • Q4 2024

    Question

    Jeff Van Rhee asked for specifics on what litigation milestones are needed to resume guidance, the progress of the ServiceNow and VMware partnerships, and the potential timeline for recovering the $58.5 million in paid legal fees.

    Answer

    CEO Seth Ravin stated he expects to resume guidance in 2025, pending more clarity on issues remanded to the district court following the recent appellate ruling. He described the ServiceNow partnership as having a significant pipeline but still in the early stages of global alignment, expecting accretive sales in 2025. He noted the VMware business will be a 'substantive' part of 2025 sales, with dozens of clients already signed. Regarding the legal fees, he believes a decision on their appeal could come from the appellate court later in the year.

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    Jeff Van Rhee's questions to Rimini Street (RMNI) leadership • Q3 2024

    Question

    Jeff Van Rhee asked about the potential for positive billings growth in Q4, the underlying quarterly trend in customer retention, future plans for sales headcount, and sought details on customer reactions and the revenue model for the new ServiceNow partnership.

    Answer

    CEO Seth Ravin expressed confidence in the potential for positive Q4 billings, citing a strong pipeline and a notable recovery in North America. He stated that retention has stabilized after one-time churn events in late 2023/early 2024, and that underlying revenue would have been positive without those impacts and the PeopleSoft wind-down. Ravin noted sales headcount is stable, with a new structure to focus on new logos. He described customer reaction to the ServiceNow partnership as 'excellent,' as it allows them to modernize without a full ERP replacement. He clarified that ServiceNow sells the licenses, while Rimini Street provides all the implementation and management services.

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    Jeff Van Rhee's questions to ASURE SOFTWARE (ASUR) leadership

    Jeff Van Rhee's questions to ASURE SOFTWARE (ASUR) leadership • Q2 2025

    Question

    Jeff Van Rhee of Craig-Hallum Capital Group LLC inquired about the payroll tax management business, specifically its current revenue, the status of large enterprise deals, and any potential slippage. He also asked about the newly acquired Latham Time Corporation, focusing on its historical growth rate and expected revenue contribution for the second half of the year.

    Answer

    CEO Pat Goepel explained that while some large payroll tax deals have experienced phased installations, causing minor delays, no deals have been lost from the backlog. He noted that the Latham acquisition, which has historically grown around 10%, is expected to contribute approximately $7 million in revenue in the second half of 2025. Goepel also highlighted the significant cross-sell opportunities Latham presents for Asure's broader product suite.

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    Jeff Van Rhee's questions to ASURE SOFTWARE (ASUR) leadership • Q3 2024

    Question

    Jeff Van Rhee followed up on the delayed tax deals, asking for the number of deals involved. He also asked about expected 2025 free cash flow conversion, the status of the elevated accounts receivable balance, the company's acceptable debt leverage level, and the target for sales rep headcount.

    Answer

    CEO Patrick Goepel explained that one large integrated partnership could represent over 50 individual deals, making the timing variable. CFO John Pence guided for 2025 free cash flow in the '$20s' of millions, with software capitalization and commissions being the main differences from adjusted EBITDA. He noted the high AR balance is tied to the IRS's ERTC payment pause but that funds are beginning to flow again. Management stated a debt leverage of ~2x EBITDA is a comfortable maximum, and the year-end sales rep target of 130 remains on track.

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    Jeff Van Rhee's questions to Upland Software (UPLD) leadership

    Jeff Van Rhee's questions to Upland Software (UPLD) leadership • Q2 2025

    Question

    Jeff Van Rhee of Craig-Hallum Capital Group LLC asked for the specific drivers behind the increased full-year free cash flow guidance, the amount of revenue from divested businesses in Q2, and for more detail on sales organization performance and opportunities to accelerate top-line growth.

    Answer

    CFO Mike Hill attributed the higher free cash flow outlook to lower-than-expected divestiture expenses, cash received from selling interest rate swaps, and a reduction in anticipated cash taxes. Hill also stated that divested businesses contributed about $4 to $5 million in Q2 revenue. CEO Jack McDonald added that growth acceleration will come from improved execution in pipeline generation, particularly outbound efforts using intent data, and from invigorating the salesforce by hiring domain-expert sellers from direct competitors.

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    Jeff Van Rhee's questions to Upland Software (UPLD) leadership • Q2 2025

    Question

    Jeff Van Rhee of Craig-Hallum Capital Group LLC asked about the factors driving the increase in the free cash flow guide, the amount of revenue from divested businesses in Q2, and the primary levers for accelerating top-line organic growth, such as sales execution versus product innovation.

    Answer

    CFO Mike Hill attributed the higher free cash flow outlook to lower-than-forecasted divestiture expenses, cash received from selling swaps, and reduced cash taxes due to new legislation. He also confirmed that revenue from divested businesses was approximately $4-5 million in Q2. CEO Jack McDonald stated that while product innovation is ongoing, the portfolio is already competitive. He identified improved sales execution as the key growth driver, specifically enhancing outbound pipeline generation with intent data and hiring more domain-expert sellers.

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    Jeff Van Rhee's questions to Upland Software (UPLD) leadership • Q1 2025

    Question

    Jeff Van Rhee asked for several clarifications, including the completion timeline for the India development center, a reconciliation of the change in free cash flow guidance, commentary on the visibility into top-line acceleration, and the ongoing debt paydown target.

    Answer

    CEO John McDonald stated the India center build-out was completed at the end of last year and confirmed the debt paydown target remains around $2 million per month, cash flow dependent. He noted strong visibility into revenue acceleration due to 93% recurring revenue and a 99% pro forma NDRR. CFO Michael Hill clarified the free cash flow guidance, explaining the $20 million figure for the year excludes about $5 million in one-time, divestiture-related expenses.

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    Jeff Van Rhee's questions to Upland Software (UPLD) leadership • Q4 2024

    Question

    Jeff Van Rhee of Craig-Hallum Capital Group LLC asked for an update on the go-to-market strategy and sales improvements following the HGGC investment. He also inquired about the company's plans and timing for refinancing its debt and questioned the reason for the particularly wide Q1 revenue guidance.

    Answer

    CEO John McDonald detailed significant post-HGGC strategic shifts, including focusing the product portfolio, building an India-based development center, investing in AI, modernizing demand generation, and upgrading sales talent, which has improved growth and margins. On debt, McDonald stated they will likely refinance in H2 2025 to leverage the current low rate. Executive Michael Hill attributed the wide Q1 guidance to maintaining consistency and accounting for potential lumpiness in perpetual license and professional services revenue.

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    Jeff Van Rhee's questions to ALKAMI TECHNOLOGY (ALKT) leadership

    Jeff Van Rhee's questions to ALKAMI TECHNOLOGY (ALKT) leadership • Q2 2025

    Question

    Jeff Van Rhee from Craig-Hallum Capital Group LLC asked about the nature of Mantle's standalone wins, sought more detail on the sales pipeline, and questioned the rationale for consolidating the Alkami and Mantle sales teams under one leader.

    Answer

    CEO Alex Shootman clarified that Mantle's standalone wins are typically with institutions that have an existing digital banking platform, creating a new entry point for Alkami. He described the pipeline as strong and balanced. The sales team consolidation aims to create a powerful, unified go-to-market motion for combined online banking and Mantle pursuits, which he views as a key strategic differentiator.

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    Jeff Van Rhee's questions to ALKAMI TECHNOLOGY (ALKT) leadership • Q1 2025

    Question

    Jeff Van Rhee of Craig-Hallum Capital Group sought details on the attach rate for the Segment analytics product, the company's goals for add-on sales, and clarification on comments about market share gains.

    Answer

    CFO Bryan Hill reported a Segment attach rate of about 70% on new logo wins. CEO Alex Shootman reiterated the long-term goal for new ARR is a 50/50 split between add-on sales and new logos. Both executives clarified that market share gain comments are based on third-party FI Navigator data, which shows Alkami outperforming top competitors in digital user growth.

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    Jeff Van Rhee's questions to Planet Labs PBC (PL) leadership

    Jeff Van Rhee's questions to Planet Labs PBC (PL) leadership • Q1 2026

    Question

    Jeff Van Rhee of Craig-Hallum asked about the recent success with European Maritime deals, their repeatability, and the pipeline outlook across the Defense & Intelligence, Civil, and Commercial sectors.

    Answer

    CEO Will Marshall stated that the robust Maritime Domain Awareness (MDA) solution is meeting urgent geopolitical security needs in Europe, accelerating deal closures. President & CFO Ashley Fieglein Johnson added that D&I demand is strong, the Civil team is gaining traction with policy-focused solutions, and the Commercial team's refocus is leading to stabilization.

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    Jeff Van Rhee's questions to Planet Labs PBC (PL) leadership • Q4 2025

    Question

    Jeff Van Rhee sought clarification on the Space Services offering, asking if it is limited to existing satellite configurations or if it includes a vision for customization.

    Answer

    CEO William Marshall confirmed that the Space Services strategy is focused on Planet's existing technology roadmap, including its Pelican, Tanager, and Dove satellites. He emphasized this approach makes the partnerships synergistic, as they help fund the build-out of these fleets faster while creating upside from monetizing the remaining capacity.

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    Jeff Van Rhee's questions to Planet Labs PBC (PL) leadership • Q3 2025

    Question

    Jeff Van Rhee from Craig-Hallum asked if management could provide a floor for the growth rate in fiscal 2026 given strong bookings visibility. He also questioned the lower CapEx guidance for Q4 compared to prior expectations and inquired about the expected time-to-revenue for the new Pelican satellite capability.

    Answer

    CFO Ashley Johnson declined to give specific FY26 guidance but expressed cautious optimism for revenue reacceleration, particularly in the second half of the year, driven by strong bookings. She clarified that the lower CapEx guidance was due to timing, not supply chain issues. CEO Will Marshall explained that Pelican will initially serve the existing SkySat business, and its enhanced capabilities are expected to drive greater customer value and revenue growth as it ramps up over the next year.

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    Jeff Van Rhee's questions to Spire Global (SPIR) leadership

    Jeff Van Rhee's questions to Spire Global (SPIR) leadership • Q1 2025

    Question

    Jeff Van Rhee asked about CEO Theresa Condor's top priorities for the year, the key variables determining where full-year revenue lands within the guidance range, and the current state of the Space Services pipeline, including an update on the EURIALO project.

    Answer

    CEO Theresa Condor listed her priorities as stabilizing the company post-Maritime sale, solidifying her executive team, investing in sales to capture demand, and maintaining the satellite network, all with a focus on profitability. She cited global uncertainty, new revenue recognition policies, RFGL demand, and the size of NOAA's procurement as key variables for the guidance range. She confirmed the EURIALO project is progressing through its design phases.

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    Jeff Van Rhee's questions to Spire Global (SPIR) leadership • Q3 2024

    Question

    Jeff Van Rhee sought visibility on revenue recovery from the Q4 baseline, asking if any large, signed contracts could drive a step-up in coming quarters, and requested a breakdown of Q3's record ACV between new and renewal business.

    Answer

    Chairman Peter Platzer declined to pre-announce any future contract activations. CFO Leo Basola elaborated on the Q3 bookings, highlighting a very strong performance from U.S. Federal customers and significant new activity in radio frequency geolocation. He reiterated that a major Canadian deal, which slipped into Q1, would have made Q4 an even larger bookings quarter than the record-setting Q3, indicating strong underlying demand.

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    Jeff Van Rhee's questions to Spire Global (SPIR) leadership • Q4 2024

    Question

    Jeff Van Rhee asked for quantification of unusual Q1 expenses, the status of major contracts like Thales, details on the new Space Reconnaissance unit, and how increased defense spending is manifesting in the sales pipeline.

    Answer

    Interim CFO Thomas Krywe noted that unusual expenses in Q1 were similar to Q4, with funding fees replacing restatement costs. CEO Theresa Condor confirmed that large contracts like Thales have not gone away, citing continued regular meetings and progress on related projects. She explained the Space Reconnaissance unit was formalized to scale its radio frequency geolocation offering to meet urgent geopolitical demand. Condor also observed that while defense funds take time to flow, there is a much greater urgency from global customers to sign contracts and evaluate Spire's capabilities.

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    Jeff Van Rhee's questions to EGAIN (EGAN) leadership

    Jeff Van Rhee's questions to EGAIN (EGAN) leadership • Q3 2025

    Question

    An associate, Daniel, asked for more details on the mega bank deal's implementation and revenue ramp, the drivers behind the Q4 sequential growth guidance, the long-term growth formula for fiscal 2026, and the reasons for the sequential subscription revenue decline in the current quarter.

    Answer

    The mega bank deal's revenue will be recognized starting from the beginning of the contract rather than being phased. This deal is a significant driver for the guided 10% sequential growth in Q4. For fiscal 2026, the company expects to see the top-line impact from its AI knowledge investments, targeting high-teens ARR growth for the Knowledge business. The sequential revenue decline in Q3 was attributed to fewer days in the quarter, the timing of deal closures, and a catch-up in revenue recognized in the previous quarter.

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    Jeff Van Rhee's questions to EGAIN (EGAN) leadership • Q4 2024

    Question

    Jeff Van Rhee inquired about the competitive landscape for eGain's AI Knowledge wins, the sustainability of its high pilot-to-customer conversion rate, plans for sales representative headcount, and strategies to prevent churn in the conversation and analytics hubs.

    Answer

    Ashutosh Roy, an executive, explained that eGain is increasingly displacing homegrown solutions like SharePoint and Confluence, as well as competitors like Salesforce and Genesis. He attributed the high pilot conversion rate (over 75%) to better qualification and noted the current focus is on brand marketing to generate pipeline rather than adding sales reps. Regarding customer retention, Roy stated the company is hyper-focused on satisfaction and value delivery for its conversation and analytics clients to ensure stability.

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    Jeff Van Rhee's questions to AKAMAI TECHNOLOGIES (AKAM) leadership

    Jeff Van Rhee's questions to AKAMAI TECHNOLOGIES (AKAM) leadership • Q1 2025

    Question

    Jeff Van Rhee asked for clarification on the organic growth trends in the Security business, the impact of headwinds from exiting legacy revenue in the Compute segment, and how the results of the sales force changes will become visible in reported metrics.

    Answer

    CFO Ed McGowan explained the security growth mix shift, with the mature WAF business naturally slowing while newer products like API Security and Guardicore accelerate. He confirmed the legacy compute headwind was playing out as expected. Regarding sales metrics, McGowan stated the impact will ultimately show in stronger revenue growth and that the company will consider providing helpful metrics in the future.

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    Jeff Van Rhee's questions to BlackSky Technology (BKSY) leadership

    Jeff Van Rhee's questions to BlackSky Technology (BKSY) leadership • Q1 2025

    Question

    Jeff Van Rhee asked for the breakdown of new versus existing customers in the recent backlog increase, the growing interest in sovereign capabilities, and the importance of edge compute and optical interlinks.

    Answer

    CEO Brian O'Toole explained the backlog growth was largely from a major deal with an existing international customer but also included about 20 new customers. He confirmed accelerating interest from governments in sovereign capabilities. He also noted that optical cross-links are in development to improve latency, viewing them as a key future capability.

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    Jeff Van Rhee's questions to BlackSky Technology (BKSY) leadership • Q3 2024

    Question

    Jeff Van Rhee questioned the drivers of the steep Q3 to Q4 revenue ramp, asking about the mix from professional services, the number of contributing contracts, the sustainability of the Q4 run-rate, and the possibility of providing an ACV-based bookings metric.

    Answer

    CEO Brian O'Toole attributed the Q4 ramp to a combination of annual renewals and expansions from long-term customers, which naturally step up in Q4, alongside new larger deals. CFO Henry Dubois noted they do not guide by revenue stream. O'Toole stated that while the company is not providing an ACV metric yet, it is building a strong ACV business, citing an $18 million annual commitment from one international customer as an example.

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    Jeff Van Rhee's questions to SPS COMMERCE (SPSC) leadership

    Jeff Van Rhee's questions to SPS COMMERCE (SPSC) leadership • Q1 2025

    Question

    Jeff Van Rhee of Craig-Hallum asked for more clarity on why recent enablement campaigns have been biased towards retailers with existing suppliers on the network. He also asked about the discovery process that led to a higher-than-expected customer count from the Carbon6 acquisition and inquired about the outlook for organic customer count for the rest of the year.

    Answer

    Executive Chad Collins explained that the customer mix in campaigns depends on prior work with a retailer; Q1 included new retailers, leading to more net new customers. Executive Kimberly Nelson clarified the higher Carbon6 customer count was confirmed after gaining full access to their systems post-acquisition. She also guided that Q2 net organic customer adds are expected to be similar to Q1.

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    Jeff Van Rhee's questions to SPS COMMERCE (SPSC) leadership • Q4 2024

    Question

    Jeff Van Rhee sought more detail on the new TAM, asking if the incremental potential customers were found in new retail subsegments, and requested an update on revenue and EBITDA expectations for the recently closed Carbon6 acquisition.

    Answer

    Executive Chad Collins explained that the TAM was built from the bottom up using NAICS codes for all applicable industries where SPS already has a presence, though penetration levels vary. Executive Kimberly Nelson confirmed that expectations for Carbon6 remain unchanged from the initial announcement: approximately $40 million in revenue and $5.5 million in adjusted EBITDA for the year, with no significant seasonality to report.

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    Jeff Van Rhee's questions to SPS COMMERCE (SPSC) leadership • Q3 2024

    Question

    Jeff Van Rhee asked about potential go-to-market changes to target the remaining 150,000 customers in the TAM and inquired about the fulfillment solutions used by SupplyPike customers who are not already SPSC clients.

    Answer

    Executive Chad Collins stated that while they haven't had to be discriminating with enablement campaigns historically, they may need to tactically target retailers with lower supplier penetration in the future. He noted that SupplyPike customers not using SPSC for fulfillment tend to be larger companies with legacy on-premise systems, which they expect to convert to SPSC's managed network over time as they move to the cloud.

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    Jeff Van Rhee's questions to PagerDuty (PD) leadership

    Jeff Van Rhee's questions to PagerDuty (PD) leadership • Q4 2025

    Question

    Jeff Van Rhee of Craig-Hallum requested an update on pipeline status, referencing a prior comment about 50% year-over-year growth. He also asked if the intensified focus on sales changes stemmed from dissatisfaction with close rates and sought clarification on the growth outlook for the SMB/commercial segment.

    Answer

    CFO Howard Wilson stated that PagerDuty entered the year with a strong pipeline, with the Q1 pipeline being higher than the prior year, and a focus on improving quality and velocity. CEO Jennifer Tejada responded that she is 'never satisfied' and the goal is to scale the success seen in large accounts across the entire installed base. Howard Wilson confirmed the assumption for the fiscal year is that the SMB/commercial segment will return to growth after several quarters of declines and recent modest recovery.

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    Jeff Van Rhee's questions to PagerDuty (PD) leadership • Q3 2025

    Question

    Jeff Van Rhee asked about the drivers behind the improvement in EMEA, sought an updated outlook for fiscal '26, and inquired about the key drivers for accelerating growth in the Commercial segment.

    Answer

    CEO Jennifer Tejada attributed the EMEA strength to a new leader who brought rigor to pipeline generation and go-to-market, combined with an easing macro environment. CFO Howard Wilson reiterated the goal for FY'26 is to grow ARR above 10% while expanding operating margins. For the Commercial segment, CEO Jennifer Tejada pointed to better retention and stabilization, driven by product value and strength in verticals like crypto and online travel. CFO Howard Wilson added that consumption-based products are reducing the direct link to user-based employment growth.

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    Jeff Van Rhee's questions to PagerDuty (PD) leadership • Q2 2025

    Question

    Jeff Van Rhee sought clarification on the $9 million revenue guidance reduction, competitive win rates for incident management, and more detail on the SMB versus enterprise customer count trends.

    Answer

    CFO Howard Wilson confirmed the guidance change is primarily a timing issue, aside from a ~$2 million delay in professional services revenue, with ARR targets unchanged. CEO Jennifer Tejada stated that competition is mainly in the mid-market/SMB and that PagerDuty's resilience and AI platform are key differentiators. Howard Wilson added that SMB has faced elevated churn for four straight quarters and accounts for the bulk of the total paid customer decline.

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    Jeff Van Rhee's questions to Fastly (FSLY) leadership

    Jeff Van Rhee's questions to Fastly (FSLY) leadership • Q4 2024

    Question

    Jeff Van Rhee asked about the gross margin impact from the push into international markets and how long this might be a drag. He also inquired about the current posture of large media customers, who were previously noted as being unusually focused on profitability over growth.

    Answer

    CFO Ron Kisling explained that international traffic growth is a headwind that should largely work its way through in 2025 as traffic scales and cost efficiencies improve. CEO Todd Nightingale commented that the media customer posture has found a 'new normal,' and Fastly is now focused on expanding use cases and workloads with these accounts across the entire product portfolio, not just delivery.

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    Jeff Van Rhee's questions to Fastly (FSLY) leadership • Q3 2024

    Question

    Jeff Van Rhee sought clarification on the sequential drop in enterprise customer count despite non-top 10 strength, the reasons for the lowered free cash flow guidance, and the evidence supporting a non-seasonal Q4.

    Answer

    CEO Todd Nightingale explained the enterprise customer count dip was due to customers falling just below the $100k run-rate threshold, not increased churn. CFO Ron Kisling attributed the free cash flow guidance change to the cash impact of the restructuring. He also clarified the cautious Q4 outlook is due to expected lower revenue from some large customers and the absence of onetime revenue true-ups seen in prior years.

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    Jeff Van Rhee's questions to PROS Holdings (PRO) leadership

    Jeff Van Rhee's questions to PROS Holdings (PRO) leadership • Q4 2024

    Question

    Jeff Van Rhee inquired about the turnaround in PROS's travel business, asking for conceivable growth rates in 2025 and insights gained on the airline industry's health. He also asked about the sales leadership's approach to driving outcomes while avoiding disruption in the new year.

    Answer

    CFO Stefan Schulz stated that the travel business is capable of achieving below-teens growth, with subscription growth expected to accelerate throughout 2025. CEO Andres Reiner added that offer optimization is a key driver for airlines. Regarding sales, Reiner explained that major changes were made last year, and the focus for 2025 is on surgical acceleration, such as expanding the Customer Success Manager role to include expansion quotas and deepening key partner relationships.

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    Jeff Van Rhee's questions to PROS Holdings (PRO) leadership • Q3 2024

    Question

    Jeff Van Rhee asked about the outlook for Professional Services growth relative to subscription growth in 2025, the drivers for 2025 ARR growth, and whether there were demand differences between the B2B CPQ and price optimization products.

    Answer

    CFO Stefan Schulz explained that lower Professional Services growth is intentional, reflecting a strategy for faster time-to-value, and expects this trend to continue. He deferred specific 2025 ARR guidance but noted the focus remains on profitable growth and margin expansion. President and CEO Andres Reiner stated that demand is strong for both CPQ and price optimization products, both individually and as a combined, differentiated solution that embeds AI guidance into the quoting process.

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