Zoominfo Technologies Inc at UBS Global Technology and AI Conference Transcript

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

Question: Taylor McGinnis - UBS AG - Analyst : Perfect. Henry, maybe one for you to start. So there's been a nice resurgence in ZoomInfo's growth trajectory. You guys have rebounded

Question: Taylor McGinnis - UBS AG - Analyst : Perfect. Yes. Let's unpack each of these emerging opportunities. So starting with copilot, he mentioned you're at the point where these customers are starting to come up for their second renewal. So two questions here. One, where -- what inning are we in terms of the migration from SalesOS to Copilot and how much runway still remains? And then as a second part, I'd love to hear the kind of uplift you guys are seeing when companies make that move. And then also, when they're coming up for the second renewal, you made a comment earlier how renewals are stronger than what you saw under SalesOS. So why is that? What's driving that?

Question: Taylor McGinnis - UBS AG - Analyst : Yes. I appreciate all that color. That was really helpful. And the other two big products, that ZoomInfo recently as GTM Studio and GTM Workspace. I recognize these are still very early stage, but maybe you could just give some color on what initial customer feedback has been and any early signs of adoption. And then the second part to that question, it seems like ZoomInfo has this great opportunity to be the consolidator of a lot of point solutions in this broader space. So is that the intended goal here? And how are you thinking about the opportunity split between white space and then also displacement?

Question: Taylor McGinnis - UBS AG - Analyst : Yes. It's all super interesting, and I'm really excited to see how a lot of this evolves. So we've talked a lot about the cross-sell and upsell opportunities, but there's still a portion of the business that is dependent on seat expansions and what you're seeing in terms of seat activity amongst sales organizations. LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 03, 2025 / 6:35PM, GTM.OQ - Zoominfo Technologies Inc at UBS Global Technology and AI Conference So I think it would be great for the audience to get an update on what you guys are seeing there. I know there have been, especially within the tech sector, a notable number of rips that we've heard about in the second half of this year. Is there a risk that we could see another round of rightsizing and optimization? What are you guys hearing from your customers where we stand today and where we're going in 2026?

Question: Taylor McGinnis - UBS AG - Analyst : Yes, all makes sense. And I'm happy that you flagged that. And Henry, going back to what you were talking about earlier with SEO disruption and the potential for that to actually be a tailwind for ZoomInfo. Are you starting to see that or hear that more frequently in customer conversations? Is it still very early days? I guess where are we in seeing that opportunity play?

Question: Taylor McGinnis - UBS AG - Analyst : Perfect. And Graham, turning over to you to unpack some of the financials. So we've seen a bit of difference in growth between upmarket and downmarket. So upmarket, there's been a notable improvement in ACV growth. Even last quarter, it accelerated 2 points to reach 6%

Question: Taylor McGinnis - UBS AG - Analyst : Yes. And then maybe when we look down market, so ACV growth down market has been declining in the low teens range, and it's been pretty stable. I think when we look into the 4Q guide, I think the assumption is conservatively that, that growth could decline potentially a little bit more. When we think about the moving pieces of that growth rate moving forward, I think now we're a year plus into the new business risk model. What -- what's further pressuring that SMB segment. And then as we look ahead, is there a time frame for when we could start to see some of those declines start to moderate?

Question: Taylor McGinnis - UBS AG - Analyst : Perfect. And then in terms of the path from getting NRR from 90% to 100% plus and going from mid-single-digit growth to high single digit and above. Graham, I know you talked about a couple of unlocks upmarket. Maybe it's a function of down markets starting to work through some of these new business headwinds. But what do you see as being the key to getting NRR back up potentially to those levels? Is that still a goal for ZoomInfo?

Question: Taylor McGinnis - UBS AG - Analyst : Perfect. And Henry, over to you. So we saw the 8-K related to the recent equity grant. So anything that you'd like to flag there or additional perspective to provide?

Question: Taylor McGinnis - UBS AG - Analyst : Perfect. And let's go back to OperationsOS. That's been playing an important role for growth. It's consistently been growing 20% plus. So could you just talk about the demand trends that you see there? It sounds like there's potential AI tailwinds attached to that business. So what's the update? LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 03, 2025 / 6:35PM, GTM.OQ - Zoominfo Technologies Inc at UBS Global Technology and AI Conference

Question: Taylor McGinnis - UBS AG - Analyst : Perfect. And on the like other pricing models outside of just the core SalesOS and Copilot and some of the newer opportunities. In last quarter, you also called out usage and other revenue contributing to the outperformance to top line growth. So, could you just talk about what happened in that business? Is there more durable trends going forward? Do you -- I know it's a very small portion of the business today, but could this be more needle moving going forward? I guess how should we think about that?

Question: Taylor McGinnis - UBS AG - Analyst : Perfect. Now we'll -- with the last like a few minutes here, I'll take some from the audience. So the first one is talk about the initiatives you're leading in verticalizing data sets. What's the opportunity here? Is it mostly greenfield and underserved opportunity today?

Question: Taylor McGinnis - UBS AG - Analyst : Perfect. And we touched on this a bit earlier, but maybe you can provide a little bit more detail here. So it's on the new workflow products like GTM Workspace and GTM Studio. So What are you observing in terms of customer usage there, use cases, personas in the rev, et cetera?

Question: Taylor McGinnis - UBS AG - Analyst : Perfect. And Graham, I'll end on one for you, but the classic, how are you thinking about balancing revenue growth and profitability improvement as we look into next year? I think that there's been some impact to gross margin from AI and those solutions scaling. I would imagine there's potential offsets on the OpEx line, but maybe you could just talk through the puts and takes there.

Question: Taylor McGinnis - UBS AG - Analyst : Perfect. Awesome. We'll end it there. Thank you, everyone, for joining, and let's get them a round of applause.