>> WELCOME BACK TO CHEDDAR NEWS
NOW LET'S TALK ABOUT GET LAB
AND OPEN
SOURCE PLATFORM LETS USERS
DEVELOP SECURE AND OPERATE
SOFTWARE IN A SINGLE
APPLICATION
JUST YESTERDAY. THE COMPANY
POSTED FINANCIAL RESULTS FOR
ITS 3RD FISCAL QUARTER
OF 2020 TO KEEP IN MIND IS THE
COMPANY'S FIRST EARNINGS REPORT
SINCE GOING PUBLIC
IN OCTOBER. THE FETCH A
VALUATION OF MORE THAN
16 BILLION DOLLARS THAT GET LAB
CFO BRIAN ROBIN. HE'S JOINING
US NOW AND BRIAN BEFORE WE
GET INTO THE NUMBERS, LET'S GET
INTO WHAT GET LAB IS
♪
SO WHAT DOES GET LAB HOW DOES
IT WORK AND WHO BENEFITS FROM
USING IT.
>> ABSOLUTELY THANKS CAN
APPRECIATE FOR HAVE YOU ON THE
SHOW TODAY
TODAY EVERYBODY HAS TO BE A
SOFTWARE COMPANY AND SO GET
LIVE MAKES
EASIER FASTER AND MORE SECURE
FOR COMPANIES BEGUN MYSELF
ARE COMING. THINK 10 YEARS AGO
PRACTICED SMARTPHONE WHEN IT
WENT ON A BUSINESS TRIP I WOULD
HAVE TO TAKE. YOU I WANT ME TO
GO RUN IN AND TAKE A CAMERA I
HAD TO TAKE PICTURES I'VE TAKEN
GPS BUT WITH THE SMART PHONE
EVERYTHING'S INTEGRATED AND SO
LIKE EVERYTHING'S INTEGRATE
INTO ONE PLATFORM, SO WE
ALLOWED COMPANIES
CREATES OFFER IN ONE PLATFORM
WE CALL THE DEVOPS PLATFORM.
>> NOW WHAT IS YOUR CURRENT
COMPETITOR LANDSCAPE ARE THERE
ANY EMERGING COMPANIES IN THIS
SPACE ATTEMPTING TO DO WHAT GET
LAB DOES.
>> YOU KNOW IT'S A GOOD
QUESTION IT'S IT'S ENORMOUS
MARKETS OF 40 BILLION DOLLAR
TAM AND YOUR BIGGEST COMPETITOR
IS WE CALL IT D I Y
DE BOB'S DO IT YOURSELF AND SO
A NUMBER OF COMPANIES ACTUALLY
0 POINT SOLUTION. JENS THAT THE
STREAM TOGETHER AND THEN THE DO
THAT TO CREATE SORT OF A
PLATFORM OF THEMSELVES AND
THAT'S WHO WE COMPETE AGAINST
AND SO
WE DON'T HAVE REALLY ONE
COMPETITOR THAT WE SEE MOST OF
WE'RE COMPETING AND A WHOLE
BUNCH OF POINT SOLUTIONS.
NOW GET LAB
JUST POSTED.
>> EARNINGS. YOU GUYS HAVE
REVENUE GROW 50% YEAR-OVER-YEAR
SO WHAT IS YOUR REACTION TO THE
COMPANY'S FINANCIAL PERFORMANCE
IN ITS MOST RECENT QUARTER.
>> YOU KNOW REALLY HAPPY WITH
THE I'D LIKE TO TAKE THIS ON
THE THING YOU KNOW OBVIOUSLY
OUR CUSTOMERS OUR PARTNERS, THE
COMMUNITY AND ALL OF OUR TEAM
MEMBERS. WE HAD A PHENOMENAL
QUARTER, WE GREW REVENUE 50%
YEAR
OVER YEAR. OUR REMAINING
PERFORMANCE OBLIGATIONS, WE
GREW 70%. GREW HIGHER
THAN THAT. YOU KNOW WE
ALSO HAD NEW CUSTOMER AT TONS
OF CUSTOMERS GREATER THAN A 100
TODAY, 73%.
CUSTOMERS GREATER THAN
5 K RIGOROUS 66% AND SO ALL
ACROSS
THE BOARD WE EXCEEDED
EXPECTATIONS ARE REALLY HAPPY
WITH THE RESULTS THAT WE
DELIVER.
NOW.
>> CALEB SAW ITS STOCK DROP
TODAY DESPITE
♪
>> POSTING THE STRONG EARNINGS
SO WHAT DO YOU MAKE OF THE
CURRENT STOCK PERFORMANCE.
>> YEAH GREAT QUESTION, YOU
KNOW I AM I CAN I CAN'T.
>> CONTROL OF FLUCTUATIONS IN
THE STOCK PRICE. YOU KNOW THE
THINGS THAT WE'RE REALLY IN
CONTROL OF IT IS THE DELIVERING
POSITIVE BUSINESS OUTCOMES
FOR CUSTOMERS AND SO WE'RE
CONTINUING TO EXECUTE
AGAINST OUR. BUSINESS PLAN AND
SO WE GAVE OUT GUIDANCE FOR THE
FULL YEAR THAT IT SAYS WILL
GROW 60 TO
61%. IN RE RECENT GARTNER
SURVEY THEY JUST SAID THAT
YOU COMPANIES ADOPT PLATFORM
APPROACH SOFTWARE DEVELOPMENT
IS A GO WE NEED TO INCREASE TO
60%. AND SO LIKE I SAID
IT'S A VERY VERY BIG MARKET OUT
♪
THERE WERE EARLY STAGES IN THE
MARKET AND WE'RE REALLY HAPPY
WITH THE RESULTS THAT WE'VE
POSTED TODAY.
>> HOW HAS IN THE LAST 2 YEARS
THE PANDEMIC AFFECTED YOUR
COMPANY BEFORE PUBLIC HAS OF
AFFECT YOUR COMPANY
WITH SUCH A WAVE OF FOLKS
LOOKING FOR ONLINE RESOURCES TO
EXPAND AND ADAPT
♪
THEIR COMPANIES.
>> YEAH, YOU KNOW WE'RE SUPER
FORTUNATE THAT YOU WERE
SOFTWARE COMPANY. WE DON'T HAVE
SUPPLY CHAIN ISSUES
AND SO YOU KNOW WORRY I READ
EVERY DAY ABOUT YOU KNOW THE
DELAYS WITH THE BOATS AND THE
SUPPLY CHAIN YOU KNOW WITH THE
PANDEMIC WE SAW A
SMALL SLOWDOWN RATE WHEN THE
PANDEMIC TOOK A TOOK
BUT YOU DURING THE PANDEMIC WAS
REALLY SURPRISED WE SIGNED UP A
NUMBER OF
MAJOR AIRLINES AND SO WHEN I
HEARD THAT WE WERE WE HAD SOME
MAJOR AIRLINES ARE PIPELINE
WHEN THEIR REVENUES WERE CUT
90%. SURPRISE THAT THEY'RE OUT
LOOKING TO DO DIGITAL
TRANSFORMATION INTO IMPROVE.
THEIR SOFTWARE DEVELOPMENT
LIFECYCLE AND SO I THINK THAT
JUST GOES TO SHOW THE TRUE
VALUE THAT WE'RE BRINGING OUR
CUSTOMERS AND OUR O-LINE THAT
WERE DRIVING FOR HIM.
>> I'M KAYLA BRAIN TO NUMBER 11
ON THE FORBES
♪
>> CLOUD ONE 100 HOW DID THAT
FEEL AND WHAT YOU'RE AIMING FOR
NEXT.
>> THIS GREAT ARE SIGNS
OFFERING IS DOUBLING EVERY
QUARTER AND SO WE'RE
REALLY HAPPY. YEAH, THE TAKE
RATE OF THE PRODUCT IS IS
REALLY HIGH AND SUPER PAC NOW
THE YOU KNOW THE CUT NEW
CUSTOMERS THAT
WE'RE ADDING YOU KNOW WE WE HAD
CUSTOMERS AND EVERY VERTICAL
ACROSS EVERY GEOGRAPHY AND OF
OF
EVERY SIZE AND YOU KNOW WE HAVE
A A A CLOUD OFFERING THAT TO
YOU KNOW GIVES LOTS OF BENEFITS
OUR CUSTOMERS AND SO WE'RE
GOING CONTINUE EXECUTE
♪
AGAINST THAT.
>> LAST QUESTION FOR YOU IS
WHAT IS GET LABS OUTLOOK FOR
2022.
YEAH, GREAT QUESTION AND THE
GUIDANCE THAT WE GAVE TODAY WAS
FOR
4TH QUARTER. YOU KNOW WE'RE
GOING CONTINUE TO LAND NEW
WE'RE GOING TO EXPAND WITH OUR
EXISTING CUSTOMERS. YOU UP
UNTIL LAST YEAR WERE PRIMARILY
OF DIRECT SALES DUE TO MARKET
MOTION WE'VE ADDED A NUMBER NE
NUMBER NEW GO TO MARKET
THAT ARE VERY PROMISING AND SO
REALLY EXCITED ABOUT THE MARKET
HAD IN THE OUTCOMES THAT WILL
BRING
OUR CUSTOMERS YOU KNOW I THINK