Cirata plc (CRTA) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Stephen, great to see you again. Now, how are you feeling about the business? Yeah, I think today I'd just like to give some context for investors, almost like an unplugged conversation. Given the crisis that Serata had experienced in 2023, we totally get it that investors could see the company as a risky investment. Now, can we guarantee success? No, of course, that would be unrealistic. But what we can guarantee is that Ken, our chairman, Ken Lever, and me and the management team are absolutely working our socks off to deliver for investors. Now in these videos, we'll show you where we are under the covers, where we've been, where we are, and importantly, what lies ahead of us. So what are your thoughts on the Q3 numbers? What should investors take away from it? Yeah, in Q3, I think there were no great surprises from a bookings perspective. As we flagged, the year was going to be very back-end loaded when we reiterated the guidance. We did, however, land almost a million-dollar renewal from a big US insurer, which is a big vote of confidence around the data integration product and the use case was disaster recovery. You'll remember a year ago when customers and partners were looking at alternatives from Serata, given the crisis of what happened back in the spring. And there's some other significant developments that are worth sharing with investors. Firstly, we've got the anchor of the partner prepays off our backs. Our prepays are great in theory, if there's a credible plan to burn them down. The new management team arrived in March with overhangs from the prepaids from partners. And this combined with the breakdown of trust for both direct customers and partners at that time, almost 18 months ago, meant we had a lot of work to rebuild that trust and rebuild those...