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: Ken Wong - Oppenheimer & Co Inc - Analyst
: Great. Thank you for taking my question. Yeah, listen. I assume, probably better for you, Ron. But just thinking about the restructuring, I guess,
when we see something of this magnitude, typically it's a step back before seeing several steps forward. With the reiterated guide, I guess, it doesn't
seem obvious that there's maybe a rebuild going on here.
Maybe just walk us through how we should think about the magnitude of these organizational changes, whether or not I'm thinking about the
timeline from a recovery correctly here. And I'm sure everyone's wondering the confidence in that full-year outlook considering, Again, the softer
start and the softer messaging on Q2. Sorry for the long question.
Question: Ken Wong - Oppenheimer & Co Inc - Analyst
: Got it, okay. Appreciate the thoughtful response there, Ron. And then Rich, just on bookings, perhaps you guys are no longer disclosing that metric,
but just wondered if there's any color around the booking growth.
Question: Ken Wong - Oppenheimer & Co Inc - Analyst
: Okay, perfect. Thank you very much.
Question: Sheldon McMeans - Barclays Capital Inc - Analyst
: Hi, this is Sheldon McMeans on for Raimo. Thanks for taking our question.
Ron, I appreciate you gave some color on the ILT business and some of the learnings from your assessment there. And I wanted to ask, is it mainly
execution issues with some macro? And I'm wondering, is this business structurally challenged at all in the current environment, particularly as the
in-person side seems to be doing a little bit worse than the virtual side? Is there things that you need to do from a pricing and packaging perspective,
and how should we think about this business going forward?
Question: Sheldon McMeans - Barclays Capital Inc - Analyst
: Yes, yes.
Question: Sheldon McMeans - Barclays Capital Inc - Analyst
: Understood. Yeah, a very helpful color there. And a quick follow-up.
So we did see the dollar based retention for the content and platform business move below 100%. And I was wondering if you could help us think
about how that looks for the lower end of the customer base. Did that get incrementally worse, or are you seeing some of the pricing pressures
and some of the macro effects move up towards the higher end of the customer base?
Question: Sheldon McMeans - Barclays Capital Inc - Analyst
: Understood. Thank you.
Question: Tom Singlehurst - Citigroup Inc - Analyst
: Yeah, thank you. It's Tom here from Citi. A couple of questions, if it's okay.
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The first one is, just whether you can give us any geographical flavor on top of what you said. Is there any wide divergence between geographies
that exacerbated some of the execution challenges you had?
And then the second question is within ILT. You've been fairly clear that the market's growing, but you've had some challenges, which you've
attributed to execution. So I guess that's a slight market share loss, which hopefully comes back pretty quickly?
On the content and platform side, do you actually think you're losing share? Or is your growth rate more sort of representative of the market? Those
are the two questions. Thank you.
Question: Tom Singlehurst - Citigroup Inc - Analyst
: Perfect. Thank you.
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