Kylie Towbin

Kylie Towbin, on for Tyler Radke, noted the reacceleration in billings and asked about its expected trajectory relative to revenue growth, given the expansion into mid-market and new verticals. She also inquired about the potential for future price increases and the adoption progress of the Call Intelligence feature.

Answer

CFO Jason Christensen clarified that while he doesn't provide specific billings guidance, the Q2 increase in deferred revenue was driven by a large cohort of annual-paying customers. He stated that price increases are continually evaluated on a cohort basis, particularly for 2026. Regarding Call Intelligence, he said it continues to be a positive contributor, with ongoing work to integrate it into more customer workflows to help surface missed revenue opportunities.

Kylie Towbin, on for Tyler Radke, asked for directional comments on Net Revenue Retention (NRR) trends for fiscal year 2025. She also inquired about demand trends during the quarter and the drivers behind the revenue upside and management's increased confidence.

Answer

CFO Alan Taylor stated that NRR will be supported by payments adoption and product upsells. CEO Brett White clarified that NRR is measured on a per-location basis, not by logo, which impacts how multi-location client growth is reflected. Regarding demand, White described it as 'terrific' in Q4, attributing his increased confidence to the successful execution of the 2024 strategic plan, which has yielded multiple new growth vectors.