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: Daniel Chan - TD Cowen - Analyst
: Your MD&A states that the decline in software licenses revenue is due to a decrease in demand for on-prem software. Can you just provide any
details on the major drivers behind that? Just wondering if there's any churn (technical difficulty) --
Question: Daniel Chan - TD Cowen - Analyst
: Yeah. Just on the software licenses, what are the major drivers of the decrease in demand there? I know like SaaS may be part of it, but just wondering
if there's any churn or (technical difficulty) --
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SEPTEMBER 06, 2024 / 12:45PM, ENGH.TO - Q3 2024 Enghouse Systems Ltd Earnings Call
Question: Daniel Chan - TD Cowen - Analyst
: Okay. So just to be clear, there's (multiple speakers) --
Question: Daniel Chan - TD Cowen - Analyst
: Okay, thanks for that. Just to be clear, there's -- is there any impact from increased churn or any pricing pressure that's impacting that?
Question: Daniel Chan - TD Cowen - Analyst
: Yeah, that's great. Thank you. Maybe on the R&D, again the filings, the state that's up because of acquisitions, SaaS and AI, are you able to quantify
how much of that increased R&D as a result of the latter two, the SaaS and the AI part?
Question: Daniel Chan - TD Cowen - Analyst
: That's helpful.
Question: Erin Kyle - CIBC Capital Markets - Analyst
: Maybe just starting with the question on M&A integration and you touched on it there with your last comment, but just on the integration of the
assets of SeaChange this quarter, you mentioned in the prepared remarks that it was profitable in Q3 slightly but just not quite at standard levels.
So when do you think you'll have it operating at standard levels and what levers do you have to pull to achieve this?
Question: Erin Kyle - CIBC Capital Markets - Analyst
: Okay. Thank you. That's helpful. And to change, and maybe, if I can actually switch gears to media side last quarter you mentioned some difficulties
in integrating that business given it went into bankruptcy post-acquisition. So, my question is have these difficulties mostly been resolved now
and as media sites operating at your standard level?
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SEPTEMBER 06, 2024 / 12:45PM, ENGH.TO - Q3 2024 Enghouse Systems Ltd Earnings Call
Question: Paul Treiber - RBC Capital Markets - Analyst
: In the prepared remarks the tone on the organic business does sound more positive, probably say I've heard over the last couple years. Is that a
fair characterization? And then what is driving that? Is that like are you seeing an improvement in the external environment? Or is it more traction
from some of the changes in the investments you've made over the last couple of years?
Question: Paul Treiber - RBC Capital Markets - Analyst
: And on the choice strategy across all your product lines, like is it fully up implemented across all your product lines? Or is it still -- you have some
work to do in some of the product lines?
Question: Paul Treiber - RBC Capital Markets - Analyst
: Thanks for that. Switching gears to capital allocations, so you have a lot of cash, stock's trading at a multiyear low valuation. You bought back a
little bit of stock, but why not more aggressively put some of your cash into share buybacks here?
Question: Paul Treiber - RBC Capital Markets - Analyst
: Okay. Can you elaborate a bit more on that just in terms of like how you look at the returns (multiple speakers) --
Question: Paul Treiber - RBC Capital Markets - Analyst
: And then the other half of my question is M&A. You did mention for a while now there's a lot of opportunities out there. You closed some, but
there's still quite a gap versus the cash that you're generating. What are you saying or why do you think that the deals that are out there aren't
closing? Is this still valuation expectations are high from sellers? Is there anything else whether -- maybe they are getting financing problem?
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