Medallia Inc (NYSE:MDLA) Q2 2021 Earnings Conference Call - Final Transcript

Sep 03, 2020 • 04:30 pm ET


Medallia Inc (NYSE:MDLA) Q2 2021 Earnings Conference Call - Final Transcript


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Good afternoon, and welcome to Medallia's Second Quarter of Fiscal 2021 Earnings Conference Call. Joining us today for today's call are Medallia's CEO, Leslie Stretch; and CFO, Roxanne Oulman.

With that, I would like to turn the call over to Roxanne Oulman for introductory remarks. Roxanne?

Roxanne Oulman

Thank you, Jassi. Welcome to Medallia's second quarter fiscal 2021 earnings conference call. We issued our earnings release a short time ago and furnished the related 8-K to the SEC. To access the press release, please see the Investor Relations sections of our website. With me today on the call is Leslie Stretch, President and CEO of Medallia.

Before we begin, please remember, during the course of this call, we may make forward-looking statements about the operations and future results of Medallia that may vary and involve many assumptions, risks and uncertainties, including those related to the COVID-19 pandemic. To the extent possible, our forward-looking statement seeks to take into account the impact of COVID-19. However, the crisis that this pandemic has created is very fluid and the situation is constantly evolving.

If any of the risks or uncertainties related to the forward-looking statements develop, or if any of the assumptions related to the forward-looking statements proved incorrect, actual results could differ materially from those expressed or implied on our forward-looking statements. For a discussion of our risk factors associated with the forward-looking statements, please refer to the text in the Company's press release issued today and to our periodic reports filed with the SEC including our Form 10-Q dated June 9, 2020. We disclaim any obligation to update any forward-looking statements.

On the call today, we will refer to both GAAP and non-GAAP financial measures. The non-revenue financial figures discussed today are non-GAAP unless stated that the measure is a GAAP number. Please refer to today's press release for the reconciliation of GAAP to non-GAAP financial performance and additional disclosures regarding these measures. Additionally, in conjunction with the release of our earnings report, we have posted on our website at under the Investor Relations section, additional charts that identify trended metric performance that we believe will aid in understanding and evaluating our performance over time.

Now, I will turn the call over to Leslie.

Leslie Stretch

Thank you, Roxanne. Good afternoon, everyone. I hope you are all staying safe and healthy. Before I begin, I would like to thank each and every Medallian for their hard work and commitment so far in 2020. I was pleased with our progress in Q2. We saw our Company operate successfully as a virtual business. We have record SaaS revenues up 25% year-over-year, record total revenue up 21% year-over-year. We added 57 enterprise customers in Q2, ending the quarter with 839 enterprise customers. We had a record 146 customer go-lives versus 100 in Q1, all executed virtually.

As we indicated in our last earnings call, we executed a $40 million total contract value renewal in the quarter in Q2 and a $17 million total contract value renewal quarter again