Zuora Inc (NYSE:ZUO) Q1 2021 Earnings Conference Call - Final Transcript

Jun 03, 2020 • 05:00 pm ET


Zuora Inc (NYSE:ZUO) Q1 2021 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the Zuora First Quarter Fiscal 2021 Earnings Conference Call. [Operator Instructions] So over to your speaker today, Joon Huh, VP of Finance. Thank you. Please go ahead, sir.

Joon Huh

Thank you. Good afternoon and welcome to Zuora's first quarter fiscal 2021 earnings conference call. Joining me today is Tien Tzuo, Zuora's Chief Executive Officer. The purpose of today's call is for us to provide some color on our first quarter results as well as provide our financial outlook for the upcoming quarter.

Some of our discussion and responses today will include forward-looking statements. So, as a reminder, our actual results could differ materially as a result of a variety of factors. You can find information regarding those factors in the earnings release we issued today and our most recent filings with the SEC.

Finally, we'll be referring to several non-GAAP financial measures today and reconciliations to the related GAAP measures are included in our earnings release. For a copy of our earnings release, links to our SEC filings, a replay of today's call or to learn more about Zuora, please visit our Investor Relations website at investor.zuora.com. And with that, let me turn it over to Tien.

Tien Tzuo

Thank you, Joon. Thank you and welcome to Zuora's first quarter earnings call for fiscal 2021. Before we begin, let me say that Zuora unequivocally stands with the Black Lives Matter movement. Individually and collectively, we at Zuora stand up against injustice. We condemn intolerance. Systemic racism must leave us. Awareness, understanding and empathy for these injustices must happen before meaningful deliberate change can occur. Now, more than ever, we must support one another as allies.

I also want to express, on behalf of every ZEO, our gratitude to the healthcare and essential workers who continue to be on the frontlines battling the coronavirus, taking care of those affected and keeping us safe during these unprecedented times. COVID-19 is first and foremost, a public health crisis, but it's also a massive forcing function, changing our society and economy in profound ways. We will get through this crisis. But we also all recognize that our world has irrevocably changed.

And so while I plan to spend some time talking about the quarter, I'm going to focus on answering the question. What does a post COVID-19 world look like for Zuora? So far we learned three things. One, the foundation of our business is solid. Subscription models are proving incredibly resilient during this crisis. Not only are we a subscription business, but our customers are subscription businesses. Two, there has never been a time when the importance of what we do is more apparent. More and more companies are realizing that direct to customer business models, in other words, subscription models, are the future. And this crisis has only highlighted the strategic value of our technology in this new world. And third, our business continues to execute through this challenging environment. While COVID-19 has impacted our