The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Jonathan Atkin - RBC Capital Markets - Analyst
: And I think just to maybe kick things off, I'll ask if you could maybe clarify what you believe to be the biggest misconception about your core
business. And then talk a little bit about how unit economics are holding up in the face of what's going on in the paper business and what you
view as the puts and takes?
Question: Jonathan Atkin - RBC Capital Markets - Analyst
: So you talked periodically about upselling and cross-selling. Your website does a very thorough job of talking about the life cycle of documents
and storage and cloud and tying a lot of this together. And I'm just interested in some of the investments that you have yet to make to further
refine those capabilities at the back end or at the front end? Or have you made most of those investments already?
Question: Jonathan Atkin - RBC Capital Markets - Analyst
: Sticking to the core business, and then we'll pivot into some other areas. Are there regions or customer verticals that you think can keep the growth
trend going? Anything to highlight that you're noticing, in the last period of time, that could -- where you can see better penetration or just better
growth?
Question: Jonathan Atkin - RBC Capital Markets - Analyst
: So pivoting to data centers and maybe starting with India. So WebWorks has a little bit less scale than others but has been in business for quite
some time. But what is the journey look forward like there in terms of capital allocation? And then maybe hit rest of Asia as well, and we can --
Question: Jonathan Atkin - RBC Capital Markets - Analyst
: So if we look at your land bank overall, it's fairly concentrated in, in four or five markets. I think Madrid is another one. And is that something that
we could see -- is it going to be a similar mix going forward? Or are there areas where you have relatively less land bank because you've been so
successful, say, in leasing, that you would want to kind of re-up?
Question: Jonathan Atkin - RBC Capital Markets - Analyst
: What would book-to-bill be for hyperscale in your experience? I imagine that's a lumpy metric, but any kind of ranges to think about?
Question: Jonathan Atkin - RBC Capital Markets - Analyst
: Any changes in customer um preferences and/or willingness around different deal structures, whether it's powershell versus turnkey, things like
cost variability going forward if you want to, maybe not, get all the risk of just wondering, has that balance of power in the negotiation in the last
couple of years shifted at all?
Question: Jonathan Atkin - RBC Capital Markets - Analyst
: So in 2025, you've got 14% of your TCV coming up for renewal. And just wondering based on the demand signals you're getting from your customers,
Question: Jonathan Atkin - RBC Capital Markets - Analyst
: ALM, Bill, you talked a little bit about it. You've guided towards $900 million by 2026 at your Analyst Day a while back. Current run rate is sub $400
million. Just wondering what strategic steps or other organic factors that would enable you to get to that growth target?
Question: Jonathan Atkin - RBC Capital Markets - Analyst
: So the ALM is asset. And with all this AI demand from 1 year, 1.5 years ago just now getting deployed, there's a lot of equipment that might become
end of life in a few years' time. And I just wonder, do you think further out in terms of ways to capture some of that?
Question: Jonathan Atkin - RBC Capital Markets - Analyst
: We went a little bit over, but I want to thank you both for your time. Appreciate your attendance.
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