MicroStrategy Inc. (NASDAQ:MSTR) Q4 2019 Earnings Conference Call - Final Transcript
Jan 28, 2020 • 05:00 pm ET
manufacturing and distribution company and Swiss Medical, a leading organization of hospitals and medical service providers in Latin America. We've also seen a strong penetration of HyperIntelligence into our Fortune Global 500 customers.
We're seeing growing interest in HyperIntelligence's and Zero-Click analytics that delivers insights and triggers action in seconds. We believe HyperIntelligence is solving a critical problem in the analytics market and revolutionizing business processes by embedding analytics, suggestions and actions into e-mails, spreadsheets, calendars and ERP systems that employees already use to do their jobs. Overall, we are pleased with our progress in this area. We see opportunity for greater adoption in 2020.
Our other major area of focus for us in 2019 was our fully managed cloud platform, which we now offer on AWS and Azure. We provide customers a highly differentiated cloud offering, which is at full parody to our industry-leading enterprise grade on-premise product. This allows customers to deploy and move seamlessly across multiple platforms, avoiding a vendor lock-in. Our cloud platform also offers robust security and API infrastructure, and could be extended to help customers to run their business intelligence, infrastructure and applications.
Proactively engaging our customers is another key part of our strategy to drive adoption of MicroStrategy 2019, HyperIntelligence and cloud. This has been a dramatic shift from our historical practice and services, and that of our industry, and it is paying dividends. Our team is doing an excellent job showing customers how our new solutions can provide measurable improvements in their analytics capabilities and digital transformations as proven to be one of the key drivers in facilitating migrations to our latest MicroStrategy platform and to the cloud. Our focus in this area also helped drive strong growth in our consulting services revenue. We believe this is an encouraging sign that our strategy is working, it will help lead to revenue growth in the future.
Before, I turn it over to Lisa to review our financial results for the quarter, I wanted to outline for you our key priorities for 2020. First, our go-to-market strategy will be increasingly focused on the MicroStrategy Cloud platform. As I mentioned, we have seen exciting traction in the market. Our customers appreciate that our product has full feature parity, whether it's run on their own infrastructure or in our cloud. And they understand that by using our cloud they can lower total cost of ownership, get faster updates, and have greater flexibility to increase adoption throughout their organization. We expect to see some migration of existing customers to the cloud, as well as new customer growth.
Second, we will continue to encourage our customers to migrate to our latest platform version. Next week, we'll be introducing our latest release, MicroStrategy 2020 at our annual user conference, MicroStrategy World. Building on its success in MicroStrategy 2019, this latest release will include enhanced functionality for HyperIntelligence, as well as cutting-edge functionality related to our modern and open platform architecture. I'll let Michael describe these enhancements in more detail.