Zoominfo Technologies Inc at Goldman Sachs Communacopia & Technology Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : Thank you for coming. So Henry, we talked about it last year. The company has been through a lot of change. Where do you see the company now? And where do you see the company four to five years from now?

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : Great. If these things play out the way you're anticipating, what will the company look like -- and it's hard thing to visualize, but you as a founder and entrepreneur have goals and ambitions for the company. So -- where is this journey taking with all these initiatives in the short term, which look like they're going to be successful, they do play out at scale.

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : $1 per share.

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : Okay. Just make -- yes.

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : No, I understand. But I appreciate the fact that I was trying to be like an analyst talking about long-term vision and you're very grounded in what you wanted to get done in the short term. So I appreciate that.

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : And one of the -- I wouldn't say a challenge, but one of the things that are (inaudible), I have a list of these questions. But then depending upon how the answer goes, I have to change the tone of the question, right? So yesterday, we had -- fortunately, I did not do this interview with David Solomon, our CEO, interviewed Mark. And he asked him, he had a lot of questions, but we got only time for one question. One question was what are customers' priorities Mark, for calendar '25. And it was a generative AI discussion. It was three case studies that took 35 minutes and was over. So right? I mean, it was just one question.

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : I hope it's not 25 minutes.

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : Look, it's your show by the way, you can talk for about 25 minutes. So it makes my job incredibly easy.

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : Gilly is looking at me saying, dude enough everybody. Let me jump in here. Unidentified Participant Yes. I think this is a great (inaudible) point around Data-as-a-Service, which is now 13% of your ACV. Maybe talking a little bit about that, what -- what the service is, what positions (inaudible) to win and where you're seeing that traction across different customer cohorts with Data-as-a-Service.

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : Graham, this is your first public investor conference that you're presenting at?

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : If I could bring Henry back in on the copilot topic. Henry, what is the differentiation of ZoomInfo Copilot. Because everybody has a Copilot. There are more Copilots than pilots these days. So what is your -- and more agents than real people.

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : That's got to be a huge boost of productivity of a salesperson because we've been hearing this as a theme with a few other companies. I mean, we've had a good fortune of, I don't know 25-plus companies in the last four days or so, mostly CEOs. And we hear this as a theme. So I just wonder if sales productivity is going to get a big boost because they're able to do their research much more efficiently, quickly, more knowledgeable in front of the client. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 12, 2024 / 5:10PM, ZI.OQ - Zoominfo Technologies Inc at Goldman Sachs Communacopia & Technology Conference

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : We didn't see this a year ago. I mean this is all happening.

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : In the past few quarters. It's really amazing, right? And $18 million in net new ACV just for that product that we didn't even imagine two years ago.

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : Yes, David, please jump in. Unidentified Participant (inaudible).

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : It's a good sign that the last day of the conference and the last presentation that that our clients are starting to engage with us. Finally, after three days of shyness. That's great. But absolutely, let's make it interactive. Anybody else has a question. You don't need to take the mic. You just shout out the question. I will say, it's Kash Rangan. This is me, I have that question, so you won't be recognized on. Unidentified Participant And Graham, maybe just a follow-up on that. You mentioned off-cycle upsells. I think that that's like a really encouraging sign? Is that something with the representative of the go-to-market changes that you're doing? Or is that from the pull from customers and the interest that you're seeing from them?

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : Henry, he's doing well. I mean this is like your job interview. I mean.

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : That's great. I want to bring us back to Gen AI to very good perspectives on Copilot. How do you see this -- I mean, if you were to visualize or envision how it all plays out, and what is the the structure of the CRM industry look like is everybody going to have to have a Copilot. A salesperson is going to have a Copilot. Does the salesperson to have multiple Copilots because one thing does the Zoominfo value-add and then something -- are we going to be flooded with so many Copilots that and agents, where do you see this all going?

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : It's not meaningful, but it's crazy meaningful.

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : I have two things that are running through my mind as you walk through that -- thanks for that. One is how long did it take for you to develop this? And what technology did you build this on? Is it OpenAI or Gemini.

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : In 18 months, you got $18 million in (inaudible). Was that a goal? Like (inaudible) 18 months (inaudible). So your perspective on -- you're deep in the front office domain. -- there's a concern that it's going to -- this technology is going to make salespeople, marketing people, service people, so much more productive. We're going to be not needing as many. So certainly, nobody is calling for this workforce to be trimmed or laid off. But do you think this might mean that we add headcount at a slower pace in the future, not you guys but your customers, the domain of front office. Will this diminish the need for adding to the workforce in the future.

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : I love it because the -- the defensive view to look at, oh, yes, it's going to lead to people cutting costs and getting more out of there. But we are so capitalists and competitive as a country, as an economy, as a business world that the moment you start to see these savings, how can we get the best out of that saving?

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : Exactly, right? And so people that don't do it will lose to people that take savings from generative AI and plow them back into growing the business. That's the cycle of tech that we've always seen that it's the top 1% are getting massive productivity and the others are not going to sit behind and watch this (inaudible).

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : See, you make me even more bullish on Gen AI.

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : Yes, I know, this is a great way to end this conference, right? I mean, who knew that we would be picking up these threats. And maybe we're thinking about it the same way because we're software people. We're optimists, but I cannot help but wonder that given your purview that you sell to the front office, your customers are not saying that, well, Henry, you got this great Copilot thing, by the way, I'm going to cut down BDR. We're going to cut down (inaudible).

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : Anything from your line as we wrap it up? Unidentified Participant Yes. Henry, just one more for me. You talked about the different usage with account reps on the ZoomInfo platform. And when I think about marketing and talent and operations, how are you seeing the usage of those attached to those -- and just how do you think that, that's going to change over time?

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : As we wrap up any final questions from our clients. Yes. I know your name, but I'm not going to call out your name because I don't want your name to appear in a transcript. I just realized after 3.5 days. I prided myself saying knowing every single client who asked a question, I know their name. But then I realized at the very end it's not a (inaudible) thing. They don't want -- sorry. Unidentified Participant (inaudible).

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : Any more questions? It took a long time for me to learn after 3.5 days. Don't call the client out by name, although it's. Anymore, yes. I will not repeat your name this time. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 12, 2024 / 5:10PM, ZI.OQ - Zoominfo Technologies Inc at Goldman Sachs Communacopia & Technology Conference Unidentified Participant Just on the SMB side, I mean, clearly, that better growth performance at enterprise and (inaudible).

Question: Kasthuri Rangan - Goldman Sachs Research - Analyst : Predictable pressure. On that note, I'm feeling more bullish on generative AI as a result of this questioning. Any closing thoughts, Henry, what would you like the audience to walk away with?