Zoominfo Technologies Inc at Piper Sandler Growth Frontiers Conference Summary

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

Question: Brent Bracelin - Piper Sandler - Analyst : <_ALACRA_META_ABSTRACT>One of the questions we're fielding from investors for a lot of product-led growth companies for a lot of direct sales companies is the change in search patterns. As we think about AI engine optimization search engine optimization, we're seeing a big change in traffic patterns at these large companies. What do you see from your standpoint as you enable these companies' go-to-market engines that's changing because of a drop in SEO?

Question: Brent Bracelin - Piper Sandler - Analyst : So it's an early thing, but has activity began to pick up on this whole relying more on outbound than inbound just because you have to offset those -- that inbound traffic for sure? And what are those signals are? What are the signals that you see there? Is it your own top of funnel inbounds that are coming to help with outbound? Walk me through the signals you're seeing.

Question: Brent Bracelin - Piper Sandler - Analyst : So maybe compare, contrast that seat environment, particularly, I think has been most acute in tech. What were the trends you're seeing three years ago? And maybe compare, contrast that with the trends you're seeing over the last few months. It sounds like there's been a slight change, but it's early.

Question: Brent Bracelin - Piper Sandler - Analyst : Interesting. We had a HubSpot Analyst Day last week. And one of the things that was interesting to think about was they have kind of hybrid seat model. They have seat-based pricing. They have consumption. But they spend a lot of time talking about expanding the applicable seats. You guys are coming out with new products as well, too. 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 11, 2025 / 4:00PM, GTM.OQ - Zoominfo Technologies Inc at Piper Sandler Growth Frontiers Conference Maybe frame where is the product sold historically? Was it just sales reps, just SDRs? And then maybe how is that changing and what type of new seat opportunities can you look at with some of the new products?

Question: Brent Bracelin - Piper Sandler - Analyst : Define that. To me, go-to-market means salespeople. But there's a much bigger kind of seat opportunity in the full go-to-market. So what are those?

Question: Brent Bracelin - Piper Sandler - Analyst : Go-To-Market Studio is a new product, sounds exciting. But before we double-click into that, put a bow around the old way of three years ago of what you might sell to. So if I have a company that has 100 sales reps, you were selling 100 seats. What's the new model?

Question: Brent Bracelin - Piper Sandler - Analyst : So walk me through the journey you're on going from the 100 to maybe 300-seat opportunity. Are we in the top of the first inning. This is just beginning to start. Are we like two quarters in? Walk me through where we're at in that.

Question: Brent Bracelin - Piper Sandler - Analyst : Has there been a change in trajectory around ELAs? Again, how many ELA customers did you have maybe three years ago? What's it look like today? What's that pipeline opportunity around ELAs? Just color on framing that ELA opportunity.

Question: Brent Bracelin - Piper Sandler - Analyst : So the customer would like as well to simplify it.

Question: Brent Bracelin - Piper Sandler - Analyst : Yeah, 100%. So let's talk a little bit about competition in the broader context of the space. If I go back 10, 15 years, lots of customers, highly fragmented industry, ZoomInfo helped consolidate it. They really became kind of the platform leader by consolidating this fragmented market. We've kind of seen new entrants. I'd say, as you consolidate the market, became the market leader, new entrants popped up. What's changed as you think about the new entrants that you were seeing a year ago versus today? Obviously, there are a lot of challenges. There are new options, some of them being lower cost. Walk through what you've seen biggest changes to competition last year versus this year.

Question: Brent Bracelin - Piper Sandler - Analyst : The size of enterprise, the growth characteristics of enterprise, maybe frame where that is today.

Question: Brent Bracelin - Piper Sandler - Analyst : As you think about the growth algorithm here, let's put SMB aside and just focus on enterprise, that 72% mix of the business. What's possible there? As I think about, yes, growth improved 3% to 4%, and it's great. Median cloud software company is growing about 13%, that wasn't too long ago, four years ago where the whole SaaS group is growing 20%. So I understand growth has slowed. The market's matured. Walk through just the governors on growth. Is this high penetration rate that you have in Enterprise, and so it's going to really be new products that drive growth? Walk me through that growth algorithm. How does growth go from 4 to, I'm going to dream, double digits.

Question: Brent Bracelin - Piper Sandler - Analyst : If you think about the headwinds to retention, how much of it is logo churn? So folks churning off the platform versus seat churn and downgrades? You still retain the customers, the logo, but you're seeing just seat contraction. That's been the biggest issue for three years. But walk me through where we're at now.

Question: Brent Bracelin - Piper Sandler - Analyst : It sounds like there's some good signs, encouraging signs of stabilization in that software work after a couple of years, painful years. That's good to hear. What about AI natives? Explosive growth now in software again. Is it different? Are their go-to-market models different in AI natives where maybe you're not seeing some of those companies lean in on outbound as much? Or is there an opportunity you're starting to see some hope that you could actually land some net new customers in that software vertical?

Question: Brent Bracelin - Piper Sandler - Analyst : Front office has been somewhat of a challenged space as we think about a lot of VC dollars going into some of the sales enablement tools. You've seen Salesloft and Clari emerge. You've seen a lot of turnover at Outreach. Walk me through the disruption in those

Question: Brent Bracelin - Piper Sandler - Analyst : Sure. And you have been acquisitive and now you're buying back and investing in your own stock. Well, walk me through that balance as you think about like opportunities to both invest in the business and do more small tech tuck-ins.

Question: Brent Bracelin - Piper Sandler - Analyst : Absolutely. As we wrap up here, I wanted to press you a little bit on future facts, right? Jamie Dimon talked about leaders oftentimes focused too much on the past, but not in the future. And so as you think about your business, as we think about Nashville 2026, what's your best guess on what people are going to be talking about in a year from now that they're not talking about today relative to ZoomInfo?

Question: Brent Bracelin - Piper Sandler - Analyst : Certainly, no one is expecting that. So if you can do that, we will be celebrating in Nashville in 2026.

Question: Brent Bracelin - Piper Sandler - Analyst : Graham, thank you so much for joining us. Great discussion.