Half Year 2024 Fadel Partners Inc Earnings Call Transcript
Key Points
- Fadel Partners Inc (LSE:FADL) has successfully launched its LicenSee offering, winning three new customers and building a strong pipeline of deals.
- The company has seen a 33% growth in ARR for its Brand Vision product, with no logo churn during the first half of 2024.
- Services revenue increased by 90% to $1.9 million, driven by new IPM implementations and regional expansions.
- Gross margin for the first half of 2024 increased to 53% from 50%, with services margin significantly up to 61%.
- Fadel Partners Inc (LSE:FADL) has strategically enhanced its sales and marketing teams, leading to improved pipeline management and client wins.
- Total revenue for the first half of 2024 decreased by 2% to $5.3 million compared to the same period in 2023.
- License subscription and support revenue dropped from $4.3 million to $3.4 million, mainly due to customers transitioning to self-hosted environments.
- PictureDesk ARR decreased by 31%, with a significant customer churn impacting the overall ARR.
- Cash on hand decreased from $3.2 million at the end of 2023 to $2.2 million by mid-2024.
- The pricing environment in 2024 has been softer, with companies looking to maximize their spend, leading to some delays in decision-making.
Good afternoon, and welcome to the Fadel Partners, Inc., interim results investor presentation. Throughout this recorded meeting, investors will be in listen only mode. (Operator Instructions).
Before we begin, I'd like to submit the following poll. I'd now like to hand you over to Tarek Fadel, CEO. Good afternoon, sir.
Good afternoon. And thank you for joining us today. With me is Ian Flaherty, our CFO. Just by way of quick introductions for those of you who don't know us yet. My name is Tarek Fadel, I'm the founder and CEO of the company. I come with close to 30-years of enterprise B2B technology experiences. Prior to Fadel, I was with Oracle in a multitude of roles, both on the product side and the consulting services side, and have a, computer science and, business degree.
Yeah. My name is Ian Flaherty. I joined Fadel in February of 2024. Previously held
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