National Research Corporation Q1 FY2024 earnings call

• Big financial goals over next several years: double total addressable market through portfolio additions etc., double-digit annual revenue growth, expand margins, create value for investors. - Strategy: combine historical strengths (health care DNA, client service, mission-driven org) with expanding product portfolio and innovative tech. - Organizational changes: revenue team moved under Jason Hahn's executive leadership; added new leaders and sales associates, restructured compensation plans, changed territory coverages, implemented new training programs; service functions restructured for more strategy focus; product and technology teams reorganized into nimble teams with defined domains; invested in new AI and product leadership; key organizational theme is pace, accelerating decision-making and streamlining processes.

Our financial results were consistent with expectations and relatively flat year-over-year. There is no specific breakdown of revenue contribution by product segment provided in the transcript.

• Future goals include doubling total addressable market, double-digit annual revenue growth, and expanding margins. - Expect to increase IT investment, especially in AI over several quarters. - Sales team is being built up, with new products and AI-enhanced health care-specific solutions expected later this year. - Net debt is expected to increase over the balance of the year but remains at a comfortable level. - Capital allocation priorities are to fund organic innovation and growth investments, dividends, and share repurchases.

This conference call includes forward-looking statements related to the company that involve risks and uncertainties that could cause actual results or outcomes to differ materially from those currently anticipated. Further information about facts that could affect the company's future results can be found in the company's filings with the Securities and Exchange Commission.

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