Constellation Software Inc. (CSU) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to the Constellation Software conference call and webcast. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch-tone phone. To withdraw your question, please press star then 2. Please note this event is being recorded. I would now like to turn the conference over to Mark Miller, President of Constellation Software. Please go ahead. Thank you. Good morning and thank you all for joining our Q2 call. Before we get to questions, two things I wanted to put on the table up front. The first is AI. It is changing two things for us. Our customers are asking our software to do more for them while our businesses are finding new ways to build better products faster. We are seeing both. What we are not doing is running an AI program out of head office. Our business unit managers understand their verticals far better than we do and they are making those calls themselves at their own pace, funded out of their own P&Ls. Some of that work will pay for itself and some of it will not. And we will find out the same way we find out about everything else we fund, which is slowly. As many of our businesses have been adopting AI, we are seeing them use the tools to rapidly move through our customer-driven product roadmaps and augment our products with AI functionality. Let me be direct about what that means to you. We are not going to give you an AI target, an AI revenue line, or an AI timeline. If we start reporting a number like that, we will start managing to it. Our software is primarily mission critical. It is embedded in how a custom...