Sign in

    Joshua Reilly

    Senior Analyst at Needham & Company

    Joshua Reilly is a Senior Analyst at Needham & Company, specializing in SaaS, application software, and GovTech equity research. He covers publicly traded companies such as Zoom Video Communications (ZM) and has issued impactful calls, including a price target of $100 for ZM in August 2025, while his most profitable recommendation delivered a 155% return on ASUR. Reilly began his investment career at Okabena Investment Management, later serving as a research associate at Northland Securities and Canaccord Genuity before joining Needham in 2018. He holds a B.B.S in Finance and Accounting from the Carlson School of Management at the University of Minnesota and is a CFA charterholder.

    Joshua Reilly's questions to TechTarget (TTGT) leadership

    Joshua Reilly's questions to TechTarget (TTGT) leadership • Q2 2025

    Question

    Joshua Reilly of Needham & Company inquired about performance trends in the Intelligence and Advisory segment, the drivers behind the second-half revenue guidance, and the specific product changes made to Netline to boost growth.

    Answer

    CEO Gary Nugent stated that the Intelligence and Advisory business is performing as expected with strong customer renewals, though new business remains competitive. He clarified that the second-half guidance is based on existing bookings and revenue pacing momentum, not on assumptions of a market recovery. Nugent also explained that Netline's growth was driven by a new go-to-market strategy targeting the volume-conscious end of the market, rather than material changes to the product itself.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to TechTarget (TTGT) leadership • Q2 2025

    Question

    Joshua Reilly of Needham & Company inquired about performance trends in the Intelligence and Advisory segment, the primary drivers for the implied second-half guidance, and the specific product strategy for Netline's growth in the cost-conscious market.

    Answer

    CEO Gary Nugent stated that the Intelligence and Advisory business is performing to expectations with strong customer renewals, though new business remains competitive. He clarified that the H2 guidance is based on internal booking and revenue momentum, not assumptions of a market recovery. For Netline, Nugent explained growth was driven by a new, dedicated go-to-market strategy rather than material changes to the product itself.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to TechTarget (TTGT) leadership • Q1 2025

    Question

    Joshua Reilly asked for the basis of management's confidence in its full-year guidance, questioning how much of the expected second-half improvement relies on market recovery versus operational factors. He also inquired about strategic changes to the Informa Tech assets' go-to-market and product structures, and sought more detail on the plan to increase market share in the cybersecurity sector.

    Answer

    CEO Gary Nugent stated that confidence in guidance stems from internal operational improvements, not an anticipated market rebound. He highlighted a refined go-to-market strategy focusing on large customers and the successful repositioning of the Netline product as key drivers. Nugent also noted that as the combined organization stabilizes, revenue pacing is improving. Regarding cybersecurity, he emphasized it's a top priority for buyers, and the company's combined assets provide a unique competitive advantage to help vendors in that space.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to TechTarget (TTGT) leadership • Q1 2025

    Question

    Joshua Reilly of Needham & Company asked about the company's confidence in its unchanged full-year guidance, questioning the mix of market improvement versus operational factors required to meet targets. He also inquired about strategic changes to the go-to-market approach for legacy Informa Tech assets and the specific plan to increase market share in the cybersecurity sector.

    Answer

    CEO Gary Nugent responded that confidence in the guidance stems from internal operational improvements rather than an anticipated market recovery. He noted that after some initial disruption from the merger integration, the new go-to-market strategy focusing on large accounts and the repositioning of the Netline product are yielding positive results. For cybersecurity, Nugent highlighted the strong end-market demand and the company's unique combination of audience, brands, and data assets as key differentiators to capture growth.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to TechTarget (TTGT) leadership • Q4 2024

    Question

    Joshua Reilly of Needham & Company inquired about the impact of AI on the business, confidence in the $45 million synergy target, and the nature of the short-term business disruption in early 2024.

    Answer

    CEO Gary Nugent explained that AI is a market opportunity, an internal efficiency tool, and a product enhancement feature, noting that serious B2B buyers still rely on authoritative content. He confirmed confidence in meeting or exceeding the $45 million synergy goal, particularly by accelerating cost savings. The early-year disruption was attributed to the accelerated integration of the two companies, specifically the rapid implementation of a new go-to-market strategy and sales organization.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to TechTarget (TTGT) leadership • FY 2024

    Question

    Joshua Reilly of Needham & Company asked about the impact of AI on the business, the status of the $45 million synergy target, and the reasons for the short-term business disruption in early 2024.

    Answer

    CEO Gary Nugent explained that AI is a market opportunity, a tool for internal efficiency, and a way to improve products. He confirmed comfort with the $45 million synergy target, noting the company is ahead on cost synergies. Nugent attributed the early-year disruption to the necessary and accelerated integration of the two companies, particularly in restructuring the sales organization.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to TWILIO (TWLO) leadership

    Joshua Reilly's questions to TWILIO (TWLO) leadership • Q2 2025

    Question

    Joshua Reilly inquired about the balance between international messaging market share growth and its lower gross margin profile, and how AI product investments are being prioritized against the 2027 financial targets.

    Answer

    CRO Thomas Wyatt explained the strategy involves landing with messaging internationally and then cross-selling higher-margin products. CEO Khozema Shipchandler added that AI R&D investments are a priority to capture a generational opportunity but will be made responsibly within the existing financial framework to support free cash flow.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to TWILIO (TWLO) leadership • Q1 2025

    Question

    Joshua Reilly inquired about the state of carrier support for RCS messaging in the U.S. versus internationally and its scaling potential. He also asked for guidance on the linearity of free cash flow for the remainder of the year.

    Answer

    CEO Khozema Shipchandler described RCS as being in its 'early days,' with Twilio being cautiously optimistic but noting that broad support from carriers and tech ecosystem partners is not yet in place. CFO Aidan Viggiano projected that Q2 free cash flow would be more in line with Q2 non-GAAP income guidance, after some working capital tailwinds in Q1 are expected to reverse.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to AUDIOEYE (AEYE) leadership

    Joshua Reilly's questions to AUDIOEYE (AEYE) leadership • Q2 2025

    Question

    Asked for clarification on the financial impact of phasing out acquired customers, the role of increasing accessibility lawsuits in driving business, and the growth of the sales pipeline in the EU following new regulations.

    Answer

    The company clarified that acquisition-related churn will impact ARR by $1M to $1.5M in 2025, with most of it phased out by year-end. While aware of rising lawsuits, they noted their growth outpaces the market, now bolstered by EU opportunities. The EU sales pipeline has reportedly tripled from Q2 to Q3, indicating strong early traction.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to Paycom Software (PAYC) leadership

    Joshua Reilly's questions to Paycom Software (PAYC) leadership • Q2 2025

    Question

    Joshua Reilly from Needham & Company asked how Paycom is adjusting its internal sales and marketing processes with new AI tools and changing customer discovery methods. He also inquired if new sales activity was up sequentially and about the visibility into second-half revenue.

    Answer

    CEO Chad Richison noted that the marketing group has been using AI tools efficiently for some time, while the core sales process remains focused on value-selling and ROI. He confirmed record sales in Q1 and again in Q2, stating these new wins will be reflected in revenue in subsequent quarters. He expressed a high level of excitement across the company, suggesting strong visibility and momentum.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to Paycom Software (PAYC) leadership • Q4 2024

    Question

    Joshua Reilly requested commentary on client retention trends in early 2025 and asked about the factors influencing the 90% revenue retention rate outlook, particularly concerning the churn of smaller, lower-value customers.

    Answer

    CEO Chad Richison reiterated that retention is reported annually and was 90% for 2024, consistent with the prior year. While not providing a specific 2025 guide, he expressed optimism that increasing automation benefits would help improve retention over time. He pointed to a record January for new sales as evidence of strong current momentum.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to Paycom Software (PAYC) leadership • Q3 2024

    Question

    Joshua Reilly asked about the expected timeline for achieving 'full solution automation' and its potential impact on future EBITDA margins, while also seeking an update on client utilization of already-sold modules.

    Answer

    CEO Chad Richison explained that while automation drives efficiencies, the company remains ambitious given its 5% market share and is focused on building the next generation of software. He noted that client utilization is increasing, emphasizing that optimal usage often involves setting up the system to run automatically, reducing direct user interaction.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to Vertex (VERX) leadership

    Joshua Reilly's questions to Vertex (VERX) leadership • Q2 2025

    Question

    Joshua Reilly from Needham & Company asked for color on the linearity of the quarter, specifically when the weakness emerged, and questioned the reasons for the slowdown in the SAP ECC migration base.

    Answer

    CFO John Schwab stated that after a strong start in April, softness began to appear in May, with deal cycle elongation becoming more pronounced in June. President and CEO David DeStefano attributed the SAP-related slowdown to general macro uncertainty, causing enterprises to delay large, disruptive cloud transformation projects to prioritize other investments.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to Vertex (VERX) leadership • Q1 2025

    Question

    Joshua Reilly asked about the drivers causing large customers to migrate from homegrown solutions to Vertex and inquired about the reasons for the sequential decline in direct customers.

    Answer

    CEO David DeStefano explained that the migration from homegrown solutions is driven by the growing complexity of global e-invoicing and increased audit pressure, which makes manual processes unsustainable. CFO John Schwab added that the decline in direct customers was due to the attrition of low-ARPU customers at the lower end of the market, noting that the company's focus remains on its scaled customers, which grew 15% year-over-year.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to Vertex (VERX) leadership • Q4 2024

    Question

    Joshua Reilly asked about the investment in AI products, including the timing of monetization, the split between expensed and capitalized costs, and the resulting impact on free cash flow conversion.

    Answer

    CEO David DeStefano stated that the 'smart categorization' AI product will launch in 2025 and begin contributing to ARR, driven by strong customer feedback. CFO John Schwab estimated that R&D capitalization is typically around 50% and acknowledged that while these investments will slow free cash flow conversion for 18-24 months, the company expects to return to its 65-70% conversion target after exiting 2026.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to Vertex (VERX) leadership • Q3 2024

    Question

    Joshua Reilly inquired about the ERP migration 'super cycle,' asking if Vertex is seeing an acceleration in related projects and leads, and also asked about key country mandates for e-invoicing in 2025 and the resulting urgency.

    Answer

    CEO David DeStefano confirmed that increased activity from Oracle and SAP migrations, along with regulatory pressures, drove the positive outlook and is expected to continue into 2025. Regarding e-invoicing, he stated that Vertex's solution with ecosio is already integrated and being sold, highlighting France and Germany as key countries to watch.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to Crexendo (CXDO) leadership

    Joshua Reilly's questions to Crexendo (CXDO) leadership • Q2 2025

    Question

    Joshua Reilly asked about the licensee pipeline for the second half of the year, the total active licensee count, the potential impact of T-Mobile's acquisition of UScellular, and the expected timing for margin improvements from the data center consolidation.

    Answer

    CEO Jeff Korn, COO Doug Gaylor, and CFO Ron Vincent responded. They noted a strong pipeline for both new and upgrading licensees, bringing the total to approximately 240. They see the UScellular acquisition as a 'tremendous opportunity' to expand the relationship with T-Mobile. Major margin improvements from data center consolidation are expected in 2026 after the U.S. data centers are shut down, as the international savings are minimal and being reinvested.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to Clear Secure (YOU) leadership

    Joshua Reilly's questions to Clear Secure (YOU) leadership • Q2 2025

    Question

    Joshua Reilly inquired about the new international expansion, focusing on the enrollment process for foreign travelers, and also asked about the strategy behind the recent, more coordinated price increases and their expected impact on retention.

    Answer

    CEO Caryn Seidman Becker explained that international enrollment will leverage the existing ePassport capability for a one-step process, initially at airport pods and later via mobile, with a focus on U.S. outbound lanes. CFO Jennifer Hsu stated the recent pricing actions were designed to optimize bookings and that retention has been in line with expectations. Caryn Seidman Becker added that investors should expect a more disciplined and consistent pricing strategy moving forward.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to Clear Secure (YOU) leadership • Q1 2025

    Question

    Joshua Reilly asked about the Q2 bookings guidance, specifically the macro factors being considered, including any potential disruption from the REAL ID implementation. He also inquired about trends in dollar retention for family members following recent price increases.

    Answer

    Executive Caryn Seidman-Becker stated that gross adds and conversion rates remain healthy with no current softness from macro sentiment, but the guidance reflects caution around external "noise" like the REAL ID rollout. She noted CLEAR is well-prepared to assist members. CFO Jennifer Hsu added that while no softness is visible, the bookings guidance range was widened slightly to account for potential variability, and she reiterated the full-year free cash flow guidance. Regarding retention, Hsu confirmed that overall trends are consistent, as reflected in the sequential growth of 100,000 net adds in Q1.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to Clear Secure (YOU) leadership • Q4 2024

    Question

    Joshua Reilly from Needham & Company inquired about the drivers behind the Q1 bookings guidance, the impact of pricing tailwinds, the mix of net adds, and the implications of the American Express partnership on bookings and EBITDA.

    Answer

    Kenneth Cornick, an executive at CLEAR, attributed the Q1 guidance to seasonal travel slowness, the timing of CLEAR1 deals, and a reduced pricing tailwind. He also noted that the percentage of trial members was down slightly year-over-year. Regarding the Amex partnership, Cornick explained that while valuable for distribution, the significant gap between wholesale and retail pricing currently depresses bookings and EBITDA. CEO Caryn Seidman-Becker added that company data shows strong retention rates for members who transition from promotional to full-priced plans.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to Clear Secure (YOU) leadership • Q3 2024

    Question

    Joshua Reilly from Needham & Company, LLC inquired about the impact of recent price increases on key metrics like net member additions and dollar retention, and also asked about the commercial nature of the Uber partnership and its potential to boost total enrollments.

    Answer

    Executive Kenneth Cornick stated the company is pleased with the pricing performance, noting a focus on dollar retention which increased 100 bps YoY. He acknowledged a modest impact on family gross adds and retention but expects Q4 net adds to be up sequentially. Executive Caryn Seidman-Becker described the Uber partnership as foundational for trust and safety, with significant long-term potential to increase member utilization beyond travel, though she did not detail the commercial terms.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to AXON ENTERPRISE (AXON) leadership

    Joshua Reilly's questions to AXON ENTERPRISE (AXON) leadership • Q2 2025

    Question

    Joshua Reilly from Needham & Company requested an update on the light post and outpost camera opportunities and asked how drone revenue is monetized, specifically regarding hardware versus software.

    Answer

    President Josh Isner confirmed that outpost camera trials are live with large customers and are providing valuable learnings. COO & CFO Brittany Bagley explained that drone-related revenue is primarily from D-Drone's hardware and software, while the partnership with Skydio is a referral fee and not a major revenue component at this time.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to AXON ENTERPRISE (AXON) leadership • Q1 2025

    Question

    Joshua Reilly asked about the production ramp-up for the new fixed camera units (Outpost and Light Post) and about customer feedback regarding the urgency to finalize deals before the AI leader pricing deadline.

    Answer

    President Joshua Isner clarified that there will be no major revenue impact from the new fixed cameras this year, as the immediate focus is on trials and ensuring high product quality, with revenue conversion expected in 2026. He noted that Axon's experience building other cameras accelerates the path to market. Regarding pricing, Isner confirmed the June 30 deadline creates urgency for customers, and the company is focused on converting its existing pipeline in Q2.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to AXON ENTERPRISE (AXON) leadership • Q4 2024

    Question

    Joshua Reilly asked for details on the ended partnership with Flock Safety, including the future of ALPR technology licensing, and sought feedback from federal customers regarding their ability to expand contracts for body cameras and TASERs post-election.

    Answer

    President Joshua Isner stated the Flock Safety situation was 'overblown' and that Axon hopes to resume the partnership under fairer terms for data flow. Both Isner and CEO Patrick Smith expressed confidence in federal program expansion, noting that once agencies adopt body cameras, they become indispensable for officer protection, a value proposition enhanced by new AI tools like Draft One.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to AXON ENTERPRISE (AXON) leadership • Q4 2024

    Question

    Joshua Reilly asked about the implications of the ended partnership with Flock Safety for Axon's Fleet 3 ALPR technology and its broader strategy for fixed LPR. He also sought feedback from federal customers regarding their ability to expand contracts post-election.

    Answer

    Joshua Isner, President, characterized the Flock partnership situation as 'overblown,' stating that both companies are interested in resuming the partnership with fairer data-sharing terms. On federal contracts, both Isner and CEO Patrick Smith expressed confidence, noting that once agencies adopt body cameras, they become indispensable for officer protection, a value proposition enhanced by new AI tools like Draft One.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to AXON ENTERPRISE (AXON) leadership • Q3 2024

    Question

    Joshua Reilly asked about the drivers of the sequential decline in the Q4 adjusted EBITDA margin guidance, the impact of FedRAMP status on federal contract wins, and the outlook for TASER manufacturing capacity increases.

    Answer

    CFO Brittany Bagley explained the Q4 margin guidance reflects timing on expense catch-up and a full quarter of costs from the closed Dedrone acquisition. EVP Joshua Isner added that FedRAMP is a differentiator, but federal wins are more a tribute to product quality and team execution. Bagley confirmed they will continue to bring more TASER capacity online to meet strong demand.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to ASURE SOFTWARE (ASUR) leadership

    Joshua Reilly's questions to ASURE SOFTWARE (ASUR) leadership • Q2 2025

    Question

    Joshua Reilly from Needham & Company asked about the penetration of time and attendance solutions within Asure's customer base and how the Latham acquisition will impact further penetration. He also sought clarification on the core payroll unit growth rate and the reasons for management's confidence that the HR compliance headwind will diminish in the second half of the year.

    Answer

    CEO Pat Goepel and CFO John Pence stated that attach rates for multi-product clients have already increased to 29% from 25% last quarter, and the Latham acquisition is expected to accelerate this. Pence confirmed that core payroll growth is approximately 5% when excluding the HR compliance headwind. Management's confidence stems from the fact that the low-retention ERTC-bundled customer cohort has now largely rolled off, and new HR compliance sales are outpacing churn.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to ASURE SOFTWARE (ASUR) leadership • Q1 2025

    Question

    Joshua Reilly asked about the productivity of new specialized sales teams and the progress on retaining HR compliance clients from the ERTC bundle.

    Answer

    CEO Patrick Goepel shared a case study of a client's annual value increasing from $4,000 to $120,000 via cross-selling, noting these results are still early. Regarding HR compliance, Goepel and CFO John Pence explained that while retention rates for the ERTC-attached cohort were lower than average, the company has now lapped that comparison period and expects a return to growth in the second half of the year.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to ASURE SOFTWARE (ASUR) leadership • Q4 2024

    Question

    Joshua Reilly asked about the progress of the enterprise payroll tax pipeline, the productivity of salespeople who previously focused on ERTC, the importance of the new credit facility for M&A, and whether recent acquisitions were included in the 2025 guidance.

    Answer

    CEO Pat Goepel and President Eyal Goldstein confirmed strong progress in the enterprise tax pipeline, with implementations for major ERP systems underway and a sales team that has been successfully transitioned from ERTC to selling the full product suite. CFO John Pence stated the credit facility is the 'main impetus' to accelerate their customer acquisition strategy and clarified that two recent small acquisitions were already factored into the full-year guidance, replacing a deal that fell through in Q4.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to ASURE SOFTWARE (ASUR) leadership • Q3 2024

    Question

    Joshua Reilly asked for more detail on the Q3 revenue shortfall versus expectations and questioned the confidence in the 2025 guidance, given likely headwinds to float income. He also inquired about the enterprise payroll tax business, specifically regarding sales cycle length, channel mix, and revenue visibility.

    Answer

    CEO Patrick Goepel attributed the Q3 miss to the timing of large deal implementations ('book-to-bill timing') rather than lost deals, taking ownership for the forecasting error. He cited a 141% increase in sales bookings and a 250% year-over-year rise in backlog as key reasons for confidence in the 2025 outlook. Goepel and President Eyal Goldstein explained that enterprise tax sales cycles can be 90-120 days and are often dependent on a client's broader ERP implementation schedule. The go-to-market strategy is a mix of direct sales and partnerships with system integrators.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to TYLER TECHNOLOGIES (TYL) leadership

    Joshua Reilly's questions to TYLER TECHNOLOGIES (TYL) leadership • Q2 2025

    Question

    Joshua Reilly from Needham & Company asked for an update on the pipeline for large deals for the second half of the year, specifically mentioning two states with RFPs for statewide court management systems.

    Answer

    President & CEO Lynn Moore confirmed the overall pipeline is solid but noted that large court deals tend to be lumpy and timing is uncertain. EVP & CFO Brian Miller added that the mix of large deals in the pipeline is consistent with historical norms, but predicting the exact timing of procurement decisions for major contracts remains difficult.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to TYLER TECHNOLOGIES (TYL) leadership • Q1 2025

    Question

    Joshua Reilly from Needham & Company inquired about the drivers of strong Q1 payments volume, specifically the impact of vehicle history records, and asked about seasonality expectations for the rest of the year.

    Answer

    CFO Brian Miller explained that driver history records were not a significant driver. The strength came from state-level digital services, e-filing, new contracts, and strong volumes in Florida and Texas. Growth in the local market and third-party rate increases also contributed. He confirmed normal seasonality is expected.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to TYLER TECHNOLOGIES (TYL) leadership • Q4 2024

    Question

    Joshua Reilly inquired about the visibility into on-premise client migrations that supports the maintenance revenue decline guidance and whether these migrations are broad-based or concentrated in certain product lines.

    Answer

    CFO Brian Miller stated that the company has 'decent visibility' into migrations, which are generally broad-based across product lines. He noted, however, that the public safety segment is experiencing a particularly rapid acceleration in cloud adoption. Miller reiterated the expectation for on-premise to cloud 'flips' to peak in 2027 and 2028.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to TYLER TECHNOLOGIES (TYL) leadership • Q3 2024

    Question

    Joshua Reilly requested an update on the progress of version consolidation for key products, such as Public Safety, and asked about the expected benefit to profit margins over the next several quarters.

    Answer

    CEO Lynn Moore stated she was pleased with the version consolidation progress, noting it is ahead of their internal plan and a key part of their cloud transition. She highlighted that major products like Enterprise Justice and ERP now have the vast majority of clients on one or two versions. This progress is already contributing to margin expansion through cloud efficiencies and lower support costs, a trend expected to continue.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to AUDIOCODES (AUDC) leadership

    Joshua Reilly's questions to AUDIOCODES (AUDC) leadership • Q2 2025

    Question

    Joshua Reilly of Needham & Company inquired about the impact of tariffs on demand for virtual versus physical SBCs, pricing strategies, the drivers behind the strong growth in the Microsoft business, and the expected timeline for Webex opportunities to contribute to revenue.

    Answer

    Shabtai Adlersberg, President & CEO, explained that SBC product choices are based on solution architecture and are not changing rapidly due to tariffs, which he views as a temporary cost issue being mitigated by price increases. He attributed the Microsoft business's 6.5% year-over-year growth to the continued 20%+ annual expansion of Teams Phone, AudioCodes' dominant market share, and significant new multi-million dollar contracts. Regarding the new Cisco Webex certification, Adlersberg noted that while a pipeline is building, significant revenue impact is not expected until 2026.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to AUDIOCODES (AUDC) leadership • Q1 2025

    Question

    Joshua Reilly inquired about AudioCodes' strategy for mitigating tariff impacts, including moving manufacturing and implementing price increases. He also asked about competitive trends within the Microsoft ecosystem (Operator Connect vs. direct routing) and the company's go-to-market strategy for the new Cisco Webex Calling opportunity.

    Answer

    President and CEO Shabtai Adlersberg confirmed that AudioCodes has already taken steps to move the majority of its manufacturing out of China over the next 3-6 months, which is expected to lower the potential tariff burden from $10-12 million to an estimated $3-4 million. Regarding the Microsoft ecosystem, he noted a market transition towards Operator Connect as the future dominant standard. For the Cisco opportunity, Adlersberg stated that AudioCodes will leverage its long-standing relationships and brand recognition in the service provider space to gain market share, noting their larger scale as a key advantage over competitors.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to Bandwidth (BAND) leadership

    Joshua Reilly's questions to Bandwidth (BAND) leadership • Q2 2025

    Question

    Joshua Reilly from Needham & Company inquired about the performance of Bandwidth's AI use case thesis, the rationale for maintaining full-year revenue guidance despite a strong quarter, and the contribution of the Maestro platform to the growth in average revenue per customer (ARPU).

    Answer

    CEO David Morken confirmed that the AI thesis is proving successful, with Maestro being a critical component in all new enterprise deals. CFO Daryl Raiford clarified that the current guidance implies significant revenue acceleration in the second half of the year, projecting 10% organic growth in Q3 and 13% in Q4. Chief Product Officer John Bell added that Maestro adoption is a key driver of the increasing ARPU.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to Karooooo (KARO) leadership

    Joshua Reilly's questions to Karooooo (KARO) leadership • Q1 2026

    Question

    Joshua Reilly of Needham & Company inquired about the subscriber growth trajectory in South Africa, the potential impact of U.S. tariffs on Southeast Asia, and the expected effect of cross-selling on ARR and ARPU growth.

    Answer

    CEO Isaias Jose Calisto stated that Karooooo is seeing strong traction in both commercial and consumer segments in South Africa. He noted that U.S. tariffs are not currently impacting the business in Southeast Asia, with growth being driven by market expansion. While acknowledging good progress on ARPU growth from cross-selling, he suggested the initial 10% target for South Africa might take longer to achieve as the company builds its execution capabilities.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to VERINT SYSTEMS (VRNT) leadership

    Joshua Reilly's questions to VERINT SYSTEMS (VRNT) leadership • Q1 2026

    Question

    Joshua Reilly of Needham & Company asked about Verint's differentiation in the crowded AI market, the impact of AI voice chatbots, examples of its 'land-and-expand' strategy, and the effect of AI on traditional workforce management (WFM) seat renewals.

    Answer

    CEO Dan Bodner explained that Verint's differentiation stems from delivering proven AI business outcomes and its hybrid cloud model, which allows customers to layer AI onto existing systems without a 'rip-and-replace' approach. He provided examples of customers significantly increasing their ARR with Verint by expanding their use of AI bots. Bodner noted that while some customers are reducing agent seats, the overall agent count under management remains stable, and the company's growth is now driven by its high-growth AI ARR, which is more valuable than seat-based revenue.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to VERINT SYSTEMS (VRNT) leadership • Q4 2025

    Question

    Joshua Reilly asked about the dissipation of 'AI paralysis' in the contact center market, customer confidence in purchasing, and the nature of deal sizes. He also inquired if the fiscal '26 guidance accounts for the unbundled revenue that was pushed from Q4, and questioned what drove the Q4 ARR outperformance despite the slipped deals.

    Answer

    CEO Dan Bodner stated that Verint's ability to deliver strong, fast AI business outcomes is helping customers overcome purchasing hesitation, citing a 20x ROI for brands and a 9x revenue increase for Verint per automated seat. He confirmed the fiscal '26 guidance for 8% ARR growth is ratable and independent of booking mix. Bodner attributed the ARR outperformance to accelerated adoption by large customers, noting that Verint's top 100 customers saw 17% ARR growth and the top 25 saw 24% growth, driven by a top-down education strategy on AI benefits.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to VERINT SYSTEMS (VRNT) leadership • Q3 2025

    Question

    Joshua Reilly asked about trends in customer seat counts and net spend upon renewal, and whether sales cycles might improve in 2025 as customers become more familiar with AI solutions.

    Answer

    CEO Dan Bodner confirmed that some customers are beginning to reduce agent counts, but noted this is accretive for Verint, as replacing a $200/seat license with a $1,200/bot license represents a significant revenue opportunity. He also acknowledged a customer "AI paralysis" due to market noise but stated that showcasing tangible business outcomes from peers is effectively shortening sales cycles, with the situation improving each quarter.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to VERINT SYSTEMS (VRNT) leadership • Q2 2025

    Question

    Joshua Reilly inquired about the reasons for the push in unbundled SaaS deals, questioning if it was due to macro factors, competition, or customers reassessing seat counts due to AI. He also asked if the strong net new SaaS ARR indicated improved customer retention.

    Answer

    Dan Bodner, CEO, clarified that the unbundled SaaS shortfall was due to the timing of a single large deal, unrelated to AI or agent counts, which remain stable overall. He confirmed that strong AI momentum, evidenced by over 40% growth in new AI bookings and 15% growth in bundled SaaS revenue, is indeed driving better customer retention and the strong sequential growth in net new SaaS ARR.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to HUBSPOT (HUBS) leadership

    Joshua Reilly's questions to HUBSPOT (HUBS) leadership • Q1 2025

    Question

    Joshua Reilly asked about the normalization of customer upgrades in 2025 after a period of potential pent-up demand and how this would contribute to net new ARR growth compared to previous years.

    Answer

    CFO Kathryn Bueker addressed the question by focusing on Net Revenue Retention (NRR). She stated that NRR is expected to increase by a couple of points in 2025 compared to 2024. This improvement is driven by two factors: consistently strong customer dollar retention in the high 80s and increased expansion from the new seats-based pricing model. This seat expansion comes from both new customers adding seats as they grow and existing customers adopting more paid 'core seats,' which monetizes the core CRM.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to HUBSPOT (HUBS) leadership • Q3 2024

    Question

    Joshua Reilly asked how HubSpot plans to leverage its platform advantage with the Cash flow acquisition to compete against point solutions in the SMB subscription billing and invoicing market.

    Answer

    CEO Yamini Rangan agreed that the platform advantage is key, stating that customers want a unified platform with both customer and transaction data, not disparate point solutions. She explained that Cash flow will enable a seamless process from proposal to payment, with all data captured in one place to inform future customer conversations, accelerating the vision for a single platform where it's easy for sellers to sell and buyers to buy.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to Jamf Holding (JAMF) leadership

    Joshua Reilly's questions to Jamf Holding (JAMF) leadership • Q1 2025

    Question

    Joshua Reilly inquired about the go-to-market strategy for the Identity Automation acquisition, particularly its expansion from education to commercial markets, and asked for clarification on the marketing differentiation between the new 'Jamf for Mac' bundle and the existing Jamf Business Plan.

    Answer

    CEO John Strosahl and CSO Henry Patel explained that Identity Automation's context-based identity management is a natural fit for commercial deskless workflows in sectors like healthcare and retail. They noted the initial focus is on Jamf's 40,000 existing education customers and international expansion. Strosahl clarified that 'Jamf for Mac' is tailored for enterprise buyers, whereas the Jamf Business Plan serves smaller business customers, simplifying the buying motion for each segment.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to Jamf Holding (JAMF) leadership • Q4 2024

    Question

    Joshua Reilly asked about the visibility that led to an accurate forecast of the Net Retention Rate (NRR) decline and its expected trend for 2025. He also questioned the line of sight to the significant free cash flow ramp and any potential risks from billings or collections.

    Answer

    CFO David Rudow credited Jamf's modeling team for the NRR accuracy and projected that the rate should begin to improve in the second half of 2025. He explained the anticipated 75% growth in unlevered free cash flow is supported by catching up on delayed collections from a Q4 systems update, which temporarily increased DSOs. He expressed confidence in the cash flow targets and the company's overall capital position.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to Jamf Holding (JAMF) leadership • Q3 2024

    Question

    Joshua Reilly from Needham & Company inquired about the full-year ARR growth outlook and the key factors that could influence it, as well as feedback from the JNUC conference regarding customer buying confidence for 2025.

    Answer

    Outgoing CFO Ian Goodkind acknowledged headwinds from education and device expansion but highlighted strong growth in commercial and security, expecting full-year ARR growth to be similar to revenue growth. CEO John Strosahl added that customer sentiment at JNUC was very positive, with excitement around new product enhancements like Blueprint and Self-service Plus.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to Digimarc (DMRC) leadership

    Joshua Reilly's questions to Digimarc (DMRC) leadership • Q1 2025

    Question

    Joshua Reilly asked about the expected timing for the gift card opportunity to impact revenue and ARR, the solution's differentiation, the impact of price-sensitive renewals on recent results, and any early success metrics from the recycling deal in Belgium.

    Answer

    CEO Riley McCormack stated that gift cards are expected to be a significant driver of 2025 ARR, with the first protected cards hitting shelves within the next month. He described the industry reception as 'astounding' due to the existential threat of fraud. CFO Charles Beck clarified that while price-aggressive renewals on non-core products had some impact in Q1 and likely will in Q2, it was not material enough to quantify. Regarding the Belgium deal, McCormack noted it is only a few months old but has potential upside and is a key proof point for proving the value of data to drive global adoption.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to Digimarc (DMRC) leadership • Q4 2024

    Question

    Joshua Reilly inquired about the status of the large commercial customer opportunity, the primary products expected to drive near-term ARR growth, the balance between cost cuts and revenue growth in achieving free cash flow breakeven, and the timeline for the new Belgium recycling pilot.

    Answer

    CEO Riley McCormack confirmed the large customer opportunity remains active but is not factored into 2025 plans, representing potential upside. He identified gift card security and physical anti-counterfeit solutions as the two biggest near-term ARR drivers. CFO Charles Beck explained that reaching non-GAAP profitability by Q4 2025 depends on both significant annualized cost savings of approximately $22 million and continued revenue growth.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to Digimarc (DMRC) leadership • Q3 2024

    Question

    Joshua Reilly inquired about the risks and confidence level associated with a large, delayed commercial contract, the expected timing of revenue from the gift card opportunity, and the Q3 impact of recent changes to partner contract structures.

    Answer

    CEO Riley McCormack expressed high confidence in the delayed deal, stating the company is trading time for a broader strategic scope. He noted the main risk is the opportunity cost of resource allocation. CFO Charles Beck confirmed some gift card revenue was recorded in Q3, with more expected in Q4 and a significant contribution in 2025. McCormack added that partner contract changes had no ARR impact, but significant resources were dedicated to the large deal.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to ZUO leadership

    Joshua Reilly's questions to ZUO leadership • Q2 2025

    Question

    Asked about the impact of the slow IPO market on the spending decisions of pre-IPO customers and whether the ARR guidance revision was driven more by new customer activity or cross-selling.

    Answer

    The company responded that while a better IPO market would be a tailwind, pre-IPO companies are still investing now to prepare for future scale. The lowered ARR guidance reflects a balanced pullback in expectations for both new customer acquisition and cross-sell activity due to the challenging macro environment.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to ZUO leadership • Q3 2024

    Question

    Inquired about the linearity of the Q4 pipeline in relation to the ARR guide and asked about performance trends within the tech vertical, specifically comparing B2C and B2B customers.

    Answer

    Executives stated that Q4 linearity is expected to follow the typical enterprise software pattern of being back-end loaded. They noted that strong pipeline growth, especially from partners, supports their guidance. Regarding tech trends, they explained that both B2C and B2B customers are facing increased competition, and Zuora's technology helps them retain customers through flexible strategies like consumption models and strategic bundling, which is a key focus.

    Ask Fintool Equity Research AI

    Joshua Reilly's questions to ZI leadership

    Joshua Reilly's questions to ZI leadership • Q2 2024

    Question

    Asked what specific factors changed at the end of June to cause an increase in SMB write-offs, given that the environment was already challenging in the first quarter.

    Answer

    Peter Hyzer attributed the increase to a combination of factors. First, there's a natural lag in processing write-offs. Second, they observed further stretching of small businesses' access to capital and an increase in companies shutting down as the summer progressed. This reversed a trend of improving write-off rates that had been seen from Q3'23 through Q1'24.

    Ask Fintool Equity Research AI