Q2 2024 Enfusion Inc Earnings Call Transcript
Key Points
- Enfusion Inc (ENFN) reported a solid Q2 2024 with $49.5 million in revenue, representing a 16% year-over-year growth.
- The company signed 39 new clients in Q2 2024, up from 33 in the previous quarter, bringing the total client count to 879.
- Client onboarding satisfaction scores remained at three-year highs, indicating strong customer satisfaction.
- Enfusion Inc (ENFN) achieved an adjusted EBITDA of $10.1 million, translating into a healthy adjusted EBITDA margin of 20.5%.
- The company is expanding its market share in the institutional asset management segment, with notable client wins in the insurance and banking sectors.
- Revenue growth rate slowed down slightly from the previous quarter, primarily due to the performance of the back book.
- The company saw a moderation in customers' willingness to bring on additional seat and connection counts, tempering growth from the existing customer base.
- Net Dollar Retention (NDR) was 103%, flat sequentially, impacted by lower customer upsells.
- Geopolitical and macroeconomic headwinds in the Asia Pacific region persisted, affecting growth in that area.
- The company faces ongoing challenges in the competitive landscape, particularly in the private market segment.
Good afternoon, ladies and gentlemen. Thank you for standing by. Welcome to Enfusion's second-quarter 2024 earnings conference call. (Operator Instructions) As a reminder, this conference call is being recorded.
Now, I'd like to turn the call over to Bill Wright, Head of Investor Relations to begin.
Good morning and thank you, operator. We welcome you to Enfusion's second-quarter 2024 earnings conference call. Hosting today's call are Oleg Movchan, Enfusion's Chief Executive Officer; Brad Herring, Enfusion's Chief Financial Officer; and Neal Pawar, Enfusion's Chief Operating Officer.
Please note our quarterly shareholder letter, which includes our quarterly financial results has been posted to our Investor Relations website.
I would like to remind you that today's call may contain forward looking statements. These forward-looking statements are subject to numerous risks and uncertainties, including those set forth in our filings with the SEC, which are available in
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
