Good afternoon, and thank you for joining. Welcome to Ceridian's second quarter 2023 earnings conference call. I'm Matt Wells, Head of Investor Relations. On the call today, we have our Co-CEOs, David Ossip and Leagh Turner, and our CFO, Noémie Heuland. As a reminder, all participants are in a listen-only mode, and a question-and-answer session will follow our opening remarks. Now, before I hand the call over to David, I want to remind everyone that our commentary may include forward-looking statements. These statements are subject to risks and uncertainties that could cause Ceridian's results to differ materially from historical experience or present expectation. A description of some of these risks and uncertainties can be found in the reports we file with the Securities and Exchange Commission, such as the cautionary statements in our filings. Additionally, over the course of this call, we will reference non-GAAP measures to describe our performance. Please review our earnings press release and filings with the SEC for our rationale behind the use of non-GAAP measures and for a full reconciliation of these GAAP to non-GAAP metrics. These documents, in addition to a replay of this call, will be available on the Ceridian Investor Relations website. With that, I'd like to turn the call over to David. Thank you, Matt, and thank you all for joining us today on our second quarter earnings call. Today, I'll discuss our strong second quarter results, continued commitment to innovation in the HCM space, and provide an update on our raised full-year outlook. Leagh will provide more information on sales wins, successful customer implementations, and continued scale across our organization. Noémie will add detail to our quarterly performance and updated full-year outlook. Before I dig into our financials, I'd like to congratulate the team, our global workforce, our customer base, and our partner network. There is momentum across the organization and our HCM ecosystem, and these results are evidence of that. Turning to our financial results, I'm pleased to report that we exceeded guidance across all revenue and profitability metrics in the second quarter, and we are pushing the full beat across all revenue and profitability metrics into our full year guidance raise. On a constant currency basis, Dayforce recurring revenue grew 39%, and Dayforce recurring revenue ex float grew 28% year-over-year at constant currency. Turning to the bottom line, metrics and cash flow, adjusted cloud recurring gross margins of 78.1% continued to expand by 177 basis points year-over-year. Adjusted EBITDA was $98.4 million or 27% of revenue and expanded meaningfully year-over-year by 640 basis points. This is a result of the revenue upside in the quarter and our continued focus on operational efficiencies. Adjusted operating income was $83 million or 23% of revenue and also benefited from these same trends. We had record operating cash flows of $82 million in the quarter. Cash flow has been an area of focus for the organization, so I'm happy to announce continued progress along this metric. As I mentioned, based on our first half performance, we are raising both our growth and profitability outlook for 2023. As the results show, we have and are well positioned to execute in the current macro environment and are confident that our focus on durable and profitable growth will lead to continued success and value creation. Our results are also the outcome of our commitment and our ability to continually innovate and deliver real, quantifiable value to our customers. This has allowed us to win new customers, while at the same time increase product density across both new and existing customers. As Leagh will speak to, year to date, we've attached the full suite to 50% of new sales. This is validation of both our sales and product strategy. We're seeing healthy adoption of our talent solution, and the new Dayforce Hub experience continues to resonate with customers. Dayforce Wallet continues to see healthy adoption across our new and existing customer base. We are attaching the solution to 80% of new sales, and we now have 1,640 customers sold and over 1,000 customers live on the wallet. We expect to cross $2 billion of loads within a few weeks. Last quarter, Joe spoke to our AI roadmap. I'm pleased to announce continued progress on that front. We are advancing our usage of generative AI internally as well within our products. In our customer support organization, our generative AI support tool is now answering over 85% of directed questions, which is up over 10% from last quarter. This is on pace to provide a 10% gain in overall productivity in the customer support organization. All of this is a byproduct of training the model against implementation guides, knowledge bases, and other internal documentation that is refined against customer questions and responses. Across the Dayforce platform, we see countless opportunities to add generative AI to up-level our analytics and augment our already intelligent solutions for customers. Joe and his team are thoughtful in their approach here, and are excited to showcase what's next at our INSIGHTS conference later this year. Finally, I'd like to discuss global and enterprise. The Dayforce platform was built to address the global market from day one, part of our competitive advantage is offering native core HR, talent, workforce management, and payroll solutions to almost every major geography. On this front, we are well ahead of our competitors. In the quarter, we developed an extendable formula-based global payroll engine that allows for rapid adoption of new native Dayforce global payroll for most countries across the Middle East and Africa. We continue to progress with our customers on our native payroll expansion into Germany. Our charter customers are now running payroll in country, and we are progressing with the German ITSG Certification Board. We expect German payroll to be generally available in Q1 of next year. On the enterprise front, we brought live 279 net Dayforce customers in the first half of this year. Within that cohort of customers, our go lives within the segment of customers of over 6,000 employees, more than doubled year-over-year, and at the same time, year-to-date, average deal size has increased by 17%. Another incremental data point validating our ability to sell a broader solution set, expand globally, and to shift upmarket. In summary, Ceridian remains positioned as an innovator and share taker in the global HCM market. Before I turn the call over to Leagh, I'd like to welcome customers, prospects, and partners to our flagship INSIGHTS conference taking place October 2nd to the 5th in Las Vegas. We are looking forward to another record-breaking year. One last item to discuss. I'd like to share that Noémie has decided to pursue outside opportunities. Noémie will be with us up until the end of the year and will help us onboard her successor. I'd just like to say thank you to her for the last three years. With that, I'd like to turn the call over to Leagh. Thank you, David. Echoing your comments, I'd like to underscore the strong momentum we are seeing throughout the entire business, and the reason we're leaning into innovation across the Dayforce platform. Propelling both growth and innovation is this once in a generation moment, driven by three intersecting opportunities that we are uniquely primed to take advantage of, and which customers are reaching to us to help them through. The first is a complex macro environment. We help customers identify opportunities for productivity and efficiency, which they can then use to create real return and real value. Second, every organization in the world is navigating the mandate for a more connected workforce. Given the new social contract between employee and employer in this boundless world of work, Dayforce is a single, global, full suite people platform, which supports both the employee and the employer in this new world of work. Third, in this era of AI, jobs will be transformed and work will get done differently. This is a historic moment. It really is, we are being trusted to help our customers drive workforce transformation, not renovation, in the era of AI. If we continue to ride the wave of these three intersecting trends, which we have to date, we can be the people platform of this generation. Because the absolute toughest issue that companies face today is that the work is agile and flexible, and efficiencies drive growth, and other HR technologies are not known for their scale and flexibility. Moving to the quarter. As of Q2, we have nearly 6,300 customers on the Dayforce platform, with more and more customers adopting our full suite. In fact, globally, 50% of new sales are full suite in 2023. That brings our full suite total customer base to 40%. We are a full suite company. Building on this motion, our add-on sales back to the base continued to trend ahead of expectations and represent approximately 30% of total sales year to date. As David touched on earlier, this validates our ability to land and expand and to deliver maximum value to our customers. Driving this momentum has been the realignment of our revenue and customer experience organizations under Steve Holdridge, which we announced in Q1, and we continue to see both results and efficiencies from that decision. In this quarter, we announced the appointment of Sam Alkharrat as Chief Revenue Officer, reporting to Steve. While we were not planning to hire for this role so quickly, Sam was a talent that we could not pass up, given his 30 years of experience as a global enterprise SaaS leader. He is a true operator who understands scale and durable growth, especially through the build-out of incremental revenue streams and sustainable ecosystems. His joining is yet another indicator of our ability to attract truly differentiated talent globally, and it's a testament to the fact that we are doing something very, very special here. Given the impact he's had already, we are so bullish about his future in this company, and the benefit will be felt by our people and our customers. Let me get into a few notable wins and go-lives. In Q2, new customer wins included: a European aviation services company with 55,000 global employees, which selected Dayforce to support its people operations in 35 countries. A leading professional services company with 33,000 employees in nine countries, chose Ceridian as its trusted partner for global managed payroll. A U.S. consumer goods manufacturer with 35,000 employees globally, added Europe, the Middle East, and Africa to its partnership with Ceridian after choosing Ceridian for its Latin America and Asia Pacific operations in Q4 of 2022. A leading global jewelry company with 30,500 employees, selected Dayforce to provide a single workforce management solution across 39 countries. Also notable, organizations that we took live over the last quarter include: a multinational DAX 30 chemical and consumer goods company with 60,000 employees globally, is continuing its very successful implementation with Ceridian, expanding its Dayforce deployment to 20 countries and approximately 27,000 employees to date. A leading global pet care conglomerate with 30,000 employees, launched Dayforce to its U.S. and Canadian workforces to help standardize operations and reduce turnover. A luxury automotive manufacturer piloted Dayforce HR and workforce management to a large group of their employees in Germany, with plans to expand to its full German workforce of 10,000 as we move out of charter in early 2024. Also, fueling the value our customers get from implementing Dayforce is the progress we are seeing in the partner ecosystem. It's really been phenomenal. In Q2, we announced the evolution of the Ceridian Partner Network to better align with our customer's journey by matching partners with customers at critical moments to drive continuous value. Within CPN, we saw Deloitte Australia, PwC UK, and RSM accelerate the growth of their Dayforce offerings, and we also joined the Ernst & Young Global Alliance Partner program, bringing the transformational benefits of Dayforce together with EY's extensive array of services and industry insight. Now, turning to product. Q2 saw meaningful advances across four critical innovation areas for our customers: experiences, openness, compliance, and intelligence. On the experience front, we made our differentiated experience hub available globally and enhanced our people search capabilities. On compliance, we continue to earn our placement as the absolute market leader with customer-driven features such as Flex Time pay and shift bidding. On openness, we're accelerating customers' ability to leverage our ecosystem and create more connected systems with innovations like Dayforce Integration Studio, which now has interoperability across our entire partner network. Last, but far from least, we continue to deliver on empowering our customers with better intelligence, powered by AI, with the launch of predictive tools like Dayforce Career Explorer and the Burnout Dashboard, available in Dayforce People Analytics. On the topic of AI, and as David noted, we're quite pleased with the progress we're making to integrate AI across our business, because getting this right really matters, and we are seizing the opportunity to make radical breakthroughs in delivering trustworthy innovation with great care. Of course, this includes our product roadmap with the use of tooling in areas like talent management and career pathing, as Joe spoke to last quarter, but also ensuring that our entire company is finding ways to lean into AI to drive efficiency and value. We fully believe that AI innovation begins with our people. We have set up a labs function focused solely on the iterative work required to drive workplace use cases enabled by AI, in addition to creating plans to roll out AI training internally, ensuring that all of our employees, no matter their function, are AI literate. It is this continued investment in our people that we believe is the foundation for our market differentiation, as underscored by accolades in Q2, including being named one of Newsweek's top 100 most loved workplaces. Our employees' passion for our customer success is also super inspiring, as is their focus on furthering our commitment to ESG and to the communities in which we work. In Q2, we held our first-ever global volunteer month, which our people rallied behind as only Ceridian people can. We were honored to be awarded as one of USA TODAY's America's Climate Leaders in 2023. We also have earned a double A ESG rating and placement in the leader category from MSCI for the second year in a row. In closing, this quarter showcases that we continue to fire on all cylinders. We lean into every single part of the business to ensure that we are progressing and primed to be the go-to partner for HR organizations in this absolutely critical moment of opportunity. In one of the many, many conversations I had with customers this quarter, one of them said it best by noting: "You are the closest thing to the Holy Grail of modern HR technology that has ever existed. You are set up for generational growth. You are everything that we thought you were." I think there is no better moment than INSIGHTS this October to connect and to communicate and to celebrate with the Dayforce community on all the goodness that we have in store for their people and organizations. It truly is a brand new Dayforce. Now, before I hand it over to Noémie to close this out, I'd also like to offer my very deep gratitude for her leadership and counsel these past years. She has been a wonderful colleague and an even more dear friend, and she's helped us drive Ceridian through a tremendous stage of growth, and she will leave us more than ready for our next stage. Thank you, Noémie. I wish you absolutely all the best, and I'm gonna turn it over to you to bring us home. Leagh, thank you. Our second quarter results are another proof point of the strengths of our business. I'm happy to report that all Q2 metrics exceeded guidance, giving us confidence to raise our outlook for the remainder of the year. Dayforce recurring revenue grew 39% at constant currency, underpinned by Dayforce recurring revenue ex float growth of 28% at constant currency. Growth here reflects strong go lives of larger customers and sustained employment volumes. Adjusted cloud recurring gross margins of 78.1%, expanded 177 basis points year-over-year, reflecting continued scale in the Dayforce business. The combination of healthy revenue growth and expanding cloud gross margins helped drive adjusted EBITDA of $98.4 million, or 27% of revenue. Operating cash flows of $82 million is a record quarterly number for the company. This reflects continued discipline regarding expense management and working capital needs. As previously communicated, we continue to expect at least 50% adjusted EBITDA conversion into operating cash flows in fiscal year 2023. Looking ahead towards Q3 and the remainder of the year, our Dayforce revenue guidance reflects sustained employment volumes in addition to a strong quarter of go lives. Notably, we continue to expect and remain on track to bring some of our largest customers live in Q4. In the third quarter, we expect Dayforce recurring revenue ex float to grow in the range of 26%-27% at constant currency. For fiscal year 23, on the back of a strong first half of the year, we're raising our outlook for Dayforce recurring revenue ex float, and now expect growth in the range of 27%-28% at constant currency. Our float revenue guidance of $38 million for Q3 and $160 million for the year reflects typical seasonality in the second half balances and relatively stable rates. With respect to total revenue, we expect between 17%-18% growth at constant currency in Q3 and 21%-22% for the full year. The full-year raised outlook accounts for Q2 strong performance of Dayforce, Powerpay, and float, while we manage the shift of our professional services revenue, especially implementation, to our system integrators and partners. Turning to profitability, we expect Q3 adjusted EBITDA in the range of $89 million-$91 million, and now expect fiscal year 2023 adjusted EBITDA to be in the range of $384 million-$392 million, or a $15.5 million raise at the midpoint. Profitability in the second half of the year accounts for some level of investments into the business, especially in sales and marketing, as we prepare for INSIGHTS in Q4, which is typically our largest quarter, both in terms of new sales and go lives. Last, Ceridian has undergone tremendous growth and scale since I joined in 2020. Our results continue to demonstrate the resilience of our business and steady progress towards our midterm financial goals. After three amazing years working with the leadership team, I've decided to pursue other opportunities, but will ensure an orderly CFO transition in the upcoming weeks and months. It's been an honor to work with our colleagues around the world who are so deeply committed to our brand promise to make work life better. I'm very confident in the path ahead for Ceridian and our incredible community of customers. With that, Matt, I'll turn the call over to you. We'll take our first question from Kevin McVeigh of Credit Suisse. Great. Thanks so much, and Noémie, congratulations, and thanks for your contribution at Ceridian. Hey, I wonder if we could go back to the guidance. Just a really, really nice outcome, boosting the revenue and really the outsized EBITDA. Is that EBITDA, does it reflect, David, I think you'd mentioned a 10% increase in productivity as a result of AI, or is that something that would be incremental as we think about it in the back half of the year? You know, again, very, very strong results. Does it factor in any macro change at the margin or just, you know, any thoughts around that? Again, a really, really nice outcome. Kevin, thank you for that. Let me just unpack that question. First, we have flowed through the full beat into both our Dayforce recurring ex float and to the EBITDA. To kind of give clarity on that, we are raising the Dayforce recurring revenue ex float by $10 million, which is the combination of both the Q2 beat and the Q1 beat. Not only have we flowed the Q2 beat through, we've flowed the full half one beat throughout the year. In terms of adjusted EBITDA, we are raising by 15.5 at the mid, which is a combination of the Q2 adjusted beat of about 8. As well, we have increased our float expectations for the second half of the year by six. When you add the two together, we are raising by more than the combination. Just so you have clarity. In terms of where we are getting increased productivity, as you know, we have been very focused on the efficiencies of the actual business. As I mentioned and Leagh mentioned, leveraging AI and generative AI is part of our strategy and would be included in some of the efficiencies that we would expect for the remainder of the year. Thank you very much for the question. Thank you. Our next question comes from Mark, Mark Marcon with Baird. Hey, good afternoon, and thanks for taking my questions. Noémie, it's been a pleasure working with you. Congratulations and best wishes for the next stages in your career. With, with regards to the to the guide for recurring Dayforce revenue ex float, it looks like, you know, there's gonna be some acceleration in the fourth quarter relative to the third quarter in, at the midpoint of the guide. Is that just because of the, the really high level of confidence that you have with regards to some of the bigger wins that you announced, you know, a few quarters ago that are, are just ready to go live, and, and anything else that might be contributing to that? How do you factor in the macro environment as it relates to, to those elements? On the macro side, remains positive, and we remain optimistic. Regarding Q3 to Q4, there's typically some seasonality between the two quarters, and that would be indicative of that. Great. Then, David and Leagh, you guys are obviously investing globally across the board, and yet the margins are, you know, expanding nicely. Can you talk a little bit about what that, how that reflects on the scalability and the profitability of the business with existing clients? Because I would imagine that that really, you know, suggests that what you're doing with your current clients that have been in place for a while, the profitability is really increasing substantially. Thanks, Mark. If I look at the gross margin on Dayforce recurring, which is 78.1%, it's up 174 basis points year-over-year. In terms of global, as you know, Dayforce was designed from day one to be global. I would say we have about a 10-year lead on any competitor from a global perspective, and I think the results reflect that we are operating at scale globally with a full global operational model. I think Leagh could add a bit more detail to that as well. Yeah, the only thing I would add, just anecdotally, is that, when we look at Q2, the results across the portfolio were very, very even, in that every region performed exceptionally well. You would also have noted, Mark, from, our salesman commentary, both in the prepared remarks and in the press release, that we're now selling very large transactions in every region in which we operate, both full suite and land and expand. So we will continue to do that. It's the reason that our add-on sales back to the base continue to be in the 30% range, and, things are working really well as it relates to our entire global footprint. Terrific. Thank you. Our next question comes from Siti Panigrahi from Mizuho Securities. Thanks for taking my question. Noémie, my best wishes as well. We're going to miss working with you. My question is about large deals momentum. It's good to see now that 30,000 plus kind of deals back in Q2 versus Q1. Wondering, how does the pipeline look like right now for large deals at this point? I saw that you've been expanded Dayforce platform to now Middle East and Africa countries. Can you help us understand the momentum and the pipeline in large deals? I will follow up. Great questions. You know, the best metric I think we have in terms of a momentum upmarket. If we look at the number of deals that went live in the segment above 6,000 employees, it is up 125% year-over-year. We're seeing significant momentum upmarket, and many of those are global accounts. In terms of global payroll, we have developed an extendable payroll engine that is deployable across most of Africa and across the Middle East. We already do have a Dayforce customers in countries like Kenya and Mauritius and South Africa. Okay, that's great. David, those large deals you signed last year, how is the go-live tracking so far? It's tracking very well. You see that again, if we look at the metric that I just spoke about, the number of deals, the number of customers that went live in the 6,000 and above segment, which is the largest segment that we actually track and disclose, is up 125% year-over-year. I would say sales performance in the quarter in large enterprise and enterprise were both strong. Leagh, anything you would add about momentum in large enterprise or enterprise? I mean, I just echo the 17%. Year to date, deal size is up 17%, which is exceptional. Perhaps I'll say, rolling fourth quarter pipeline is very strong. We're set up for a very strong back half, and we're really pleased that Sam has decided to join us. He's an excellent addition, he's an exceptional technician, and he's done a really good job of getting his feet in, really understanding the business. We'll make a few tiny tweaks to the go-to-market in order to get things to work even better, but I would expect that we can continue to accelerate with his addition. That's great color. Thank you both. Our next question comes from Michael Turrin of Wells Fargo. Hey, great. Thanks. Appreciate you taking the, the question. Given the commentary on the macro, it continues to point to resilience, and it's maybe not the norm. I'd just love to hear if you can compare and contrast any differences you're seeing across regions or market segments? Is the resilience you're seeing, you think at all, a factor of your move-up market and some of the larger customers that you're addressing? Just, I know you've gotten a few questions on it, but any details you can share around the visibility into those Q4 deals and, and some of the work you've put in place to enable that to remain on track, given we're now August, and it sounds like a pretty healthy build between now and end of year. Thanks. Michael, as Leagh pointed out, we believe that we'll have a strong second half on top of a strong first half. We saw employment levels come in above our expectations in the quarter and in the first quarter of the year. I believe what we've been saying about the macro is positive and optimistic and has been consistent over the last number of quarters. Just, I mean, maybe a little bit more from Leagh on, on the go-to-market side. The appointment of Sam sounded like something you couldn't pass up. You've got some partner relationships that are referenced that are broadening out. Can you just speak to the signals that you're seeing, some of the go-to-market investments you're prioritizing, and just put some more context around the moves you're making? Thanks. Yeah, for sure. I mean, a little bit of digging would tell you that some of us have some past experience with Sam. He's just as I, as I, as you said, and I said, he's an exceptional addition, and we just couldn't, couldn't pass him up. As you know, not only does he have great, let's call it, sales and go-to-market and customer experience, but he's also excellent at analyzing and assessing how to grow a sales ecosystem. We cited in the first quarter that we had a 76% increase in the number of consultants that had been trained on Dayforce. That we're now in the ecosystem, and you can see that really starting to pay some serious dividends. The ecosystem continues to mature. We are ahead on, have them sold with SIs, kickoffs with SIs, go lives with SIs, and since Sam has joined, he has some smart ideas about how we might accelerate that even further, not only with SIs, but with influence partners, third-party revenue partners, and additional relationships that we could use to generate, incremental revenue streams. If I could just say, to your original question that David responded to, the macro, as we said last quarter, continues to be exceptionally favorable to us. Customers during a tricky macro look for efficiency. They have no other way to drive growth, and we deliver efficiency. Secondly, everybody is still trying to figure out this debate through the future of work. How do people work? How do they collaborate? How do they stay aligned? HR technology serves all of that. Then lastly, as it relates to AI, everybody's wrestling through this. What will work be? How will work be displaced and made different? The reality is, we're able to counsel our customers through that change, and we will even more so as the trend continues to emerge. We see really good tailwinds for a very long, protracted period of time. That's really helpful color. Thanks very much. Yeah. Thank you, Michael. Our next question comes from Dan Jester of BMO. Great. Thanks for taking my question. David, can you just remind me about how you're thinking about the conversion of some of your past acquisitions to Dayforce, and how we should be thinking about that trajectory going into next year? Yeah. It's, if I look at the APJ side of the actual business, which inside the quarter, we had about $21.8 million of revenue. We now have effectively classified the accounts into green, yellow, and red in terms of ease of movement towards Dayforce. Alongside that, as well, as you know, we look at upselling them onto the talent and the workforce management component as part of that particular journey. We're beginning to start the migrations or positioning of the migrations right now, and will continue for a number of years. Leagh, anything that you would add? No, I think you covered it. Great. Thank you. With regards to implementation and sort of the push to more partners there, it was great to see that, you know, you, you had partnership with a integrator to, to take a customer live. Maybe just an update as to kind of how you think that that is going to progress again, over the next year. At what stage do you think partners do, you know, a bit greater chunk of the implementations, especially as you move increasingly upmarket? Thank you. I'll grab that by saying, first of all, great question. Thank you for it. As I said, our partner ecosystem, which started at like, you know, a standing start three years ago, has now progressed very significantly. I would say when we look at our sales wins, I don't know, 2/3 of them have been influenced by a partner in some regard, and that spans virtually every single segment in which we operate. What you will continue to see is that the pipeline will increase as a result of that network effect. We imagine that more and more customers over time will be kicked off and brought live with partners. As that happens, our partners build value-added services around Dayforce, which become very rich practices that they can continue to build their business upon over time. Which is excellent for us and becomes, in effect, irreversible. I would say we're still in relatively early innings. It's working really well, better than perhaps we could have ever expected. Probably as a result of the fact that our technology is so strong and the demand is so high. As we continue to grow, I would imagine you'll only see that increase. One thing I would note is that we're now seeing what we would call, like, mega deals happening with partners in the large enterprise space, brought to us directly by them, happening much more consistently, and being brought live with real ease and proficiency. Yeah. One thing I would add to that is, if you actually look at the number of projects that were kicked off by SIs in the quarter, it rose to 35% on a global basis, which is up obviously significantly year-over-year. You'll also see that reflected if you do the breakdown of our, of our total revenue line. You'll see that we're shifting the professional services now more towards the actual SIs. As you go forward, you would expect less and less of our revenue, total revenue, to be from professional services, as our hope would be that we focus on becoming a scalable software company, leveraging our SI partners to do the majority of the implementation. Great. Thank you very much. Our next question comes from Raimo Lenschow of Barclays. Hey, thank you. If, if you look the, the, the highlight for me this quarter were, like, the, the wins with customers, with kind of thousands of employees, which is kind of really confirmation for, you know, the, the direction you're going there. What are you seeing in terms of the early-stage pipeline or the, the willingness of people kind of to engage with you now? Like, you know, reference customer wise, you should have, like, a lot more. What do you see in terms of, like, considering the cycle and everyone is worried about what's going on in the economy versus kind of the success you're having there? Like, what's the nature of the conversation there? Thank you. Yeah, Raimo, thank you. We're very focused effectively on delivering quantifiable value to the customers. In today's environment, that does come into focus. Many of the organizations that look to us are looking for HR digital transformation, IT simplification, a movement towards those shared services and globalization. Effectively, improving decision-making through the use of AI, generative AI, and just general very powerful analytics. Obviously, we're lifting up the overall experience as we move to a more simpler system that runs obviously at scale and runs globally. That, as Leagh pointed out, has led to very robust pipeline, or I think very good execution within the first half of the actual year. Leagh, what would you add to that? The only thing I guess I would add is just thank you, Raimo, for pointing that out. You would know, you know, a couple of years ago, we said that we were going to meaningfully push up into the enterprise and large enterprise space. As you noted, every single customer that we listed, either in prepared remarks or in the press release, are many, many thousands of employees. It's a real testament to us setting our mind to do something, saying we would do it, and delivering. Yeah. Then, Leagh, one for you. Like, obviously, having tiny tweak, tweaks with, like, Sam joining, like, tweaks is always something that makes kind of people a little bit nervous, as it happens, like, more in the middle of the year. Can you think a little... is this, like, kind of a little bit more moving, more enterprise, getting more strategic, or, you know, how, how should we think about that? Thank you, and congrats from me as well. Thank you. I, I mean, I would say the following: I, I think that you prepare a thorough go-to-market, and you launch it at the beginning of every year, together with sales bags and quotas and any changes you might make to segmentation or territories. It is very normal in the enterprise SaaS space to make minor modifications at the mid-year point, which is all we're considering doing. I'll give you an example. You know, we're seeing real movement in our full suite sales and lots of interest in our talent products. Maybe we can add some overlay resources in order to continue to lean into that thrust so that we can move faster to being a full suite company, and we can ensure that those customers in our current customer base who haven't yet taken advantage of that technology do. That would be an example of a change we might consider making. No sharp turns, no major moves, just a few tweaks, perhaps, to drive greater increment in the back half of the year and to set us up for a great 2024. Okay, that's good to hear. Yeah, sure. Thank you. Congrats. Our next question comes from Steve Enders of Citi. Okay, great. Thanks for, Thanks for taking the question here. I, I did want to ask on the, the comment about deal sizes being up 17% versus, versus last year. I mean, good, good growth there. I guess, how do we be thinking about the components of that growth? Is it primarily being driven by these larger seats and moving more upmarket? Or, or how much is the expanded suite and, and more modules helping support, helping support that growth there? It's very balanced. You know, if I look at the average number of modules across the customer base, it's up about 4x, you know, relative to about 2021. We're obviously seeing more products being used, higher module density across our client base. As well, if we look at the number of go lives in that upper market segment, it's up 125% per year. For us, it's very much about having a durable growth strategy that runs for a very long period of time. Okay, gotcha. That's that's helpful. And then on the, on the guide, I think, you know, last quarter talked about seeing upside from employee levels and, and that not necessarily being, being rolled forward. I guess, was there any change in, in how you're thinking about those components to the current outlook and, and kind of what you saw this quarter on that front? Yeah. In substance, what we've done is we've removed the hedge that we had in Q1. You may recall, we talked about the approach around employment levels, and now we feel very confident with what we've seen in Q1 and second quarter. So we flew the entire beat of the first half through the second half. Okay. All right. Helpful. Our next question comes from Matthew Pfau of William Blair. Hey, great. One question for me on the global payroll efforts. David, you, you mentioned that you're well ahead of competitors here, and I think clearly some of your competitors have shown more interest in this space recently. Maybe you can discuss some of the challenges that you believe your competitors will face when trying to replicate what you have built, and, and how do you think your offering differs from what some of your competitors are doing? Thanks. That's a very good question. There's a lot of complexity in terms of going global. It starts with the global HR model that you need to have in place. I don't believe it is possible to take a U.S. product and retrofit it to be global. There are certain data elements that have to be tracked and not tracked on a global basis. There are elements when it comes to the actual cloud environment that you're deploying and where the data actually resides. There are processes that have to be in place as well as to who is allowed to actually touch the data outside of country and how you operate on a global basis from that particular perspective. From a workforce management perspective, the way that time and attendance calculations work, whether it be overtime, whether it be scheduling, whether it be premium from the penalty pay, are not based on North American or U.S. paradigms, of continent. If you go to Europe, and you get into areas of, like, working councils, working directives that have no meaning here. If you go into geos like New Zealand, quite different from even what you would find in Australia when it comes to the way that they actually process the holidays. If you get into certain countries like Australia, you get into kind of a constructs called like multi-awards, where the pay policy follows the actual job classification rather than the actual employee. On the payroll side, very, very different in terms of how taxes are worked, how you actually have to calculate pension in many cases. From a benefit perspective, the U.S. benefit paradigm doesn't carry outside of the U.S., it doesn't even carry into Canada. In certain countries, for example, Canada, there are national language acts where you actually have to operate equally in both of the national languages, and that has to extend throughout your system, documentation, training, website materials, and the likes. In terms of record of employment and reporting out HR events to the various types of governments across the world, countries are very specific as to what record of employment information they want from the employees and when they want it, in what actual format. When you get into the actual money movement system, very different from the U.S., going to Canada, going to the U.K., going to the E.U., going to Australia, APJ, very, very, very different. You know, we have built the company to be global from the onset. We started with global customers. In fact, our largest live customers are global. I think we understand it very well. The work that Joe's been doing inside the actual platform to lift it up, very important in terms of of language localization as well. I believe we are now deploying in about 165 countries, and that takes a bit of work. Again, organizationally, we pivoted from being a U.S. company operating globally to a true global operating model several years ago, with over half of our employees being off continent, and we run the organization as a global enterprise. Again, I think we've got quite a long way to go. I would not want to be a new entrant into the global market starting today and competing against the likes of us. Very helpful. Thank you. Our next question comes from Alex Zukin of Wolfe. Hey, this is Patrick on for Alex. Thanks for taking my question. During the quarter, with our checks, we heard that the Phoenix payroll system project in Canada is starting to ramp. Wondering if you could give us an update on the project, what ending are we in for that initial $16.7 million pilot? Are we still a few years out from decisions being made on the broader project there? Thanks. Thank you for the question, Patrick. I think there's three things I can tell you about the work that we've been doing with the Canadian government, which we, which we call NextGen, which they call NextGen. The first thing I would tell you is that the testing results have continued to be exceptional, and we have concluded the testing. The second thing I would tell you is that the government is now preparing something that they call an initial findings report, which will summarize those testing results, and they will present that to cabinet for consideration in the next few months. The third thing that I can tell you, which we view as a positive sign of momentum, is that Alex Benay, who was originally with the government, left to go to industry and has since come back, has been named deputy minister responsible for pay. That includes understanding the current Phoenix system and its limitations, and thoroughly understanding the results that have emerged from NextGen and helping to support the path forward. Perfect. Thank you. Great progress. Our next question comes from Robert Simmons, from D.A. Davidson. Hey, thanks for taking this question. We've seen some consolidation in the partner ecosystem, with larger partners buying some kind of regionals. Can you talk to what you're seeing there, with more that to happen and kind of the puts and takes of that dynamic? Yeah. It's very encouraging. As you know, you saw PwC purchase a People Force in the UK. People Force was a Dayforce consulting organization, and I would expect that PwC purchased People Force to handle the demand that they're seeing for our product. Likewise, in Australia, you saw, I think it was the Deloitte purchase Enforce Consulting. Also, Enforce did specifically Dayforce implementations in APJ. Again, I would take it as a sign of very strong demand and the big SIs building out their practices. Yeah, that makes sense. Then can you update us on the Ideal Talent Marketplace? Are you still on track to launch that this year? Then any kind of learnings you've learned so far from the work you've done on it to date? We remain on track. We will be sharing more of it at Insights. We would expect to go live with the first charter customers this year. Our next question comes from Bhavin Shah, from Deutsche Bank. Hi, everyone, it's Nick on for Bhavin this evening. Thanks for taking my questions. Noémie, congratulations and best wishes on your future endeavors. Just looking at the back to the base sales, turning ahead of expectations, can you dive a bit in on what modules have been helping to drive such strength? How should we think about the sustainability of that growth going forward? I, I think part of it is what Leagh actually spoke about, was the change in go-to-market and segmentation of the actual sales force, having a dedicated overlay team going back to the base. We're quite meticulous about this. We map out the white space across all of our actual customers, and we determine the right time that we can actually approach them. As we look towards the long-term and durable growth strategy, we do believe that sales back to the base has to be a big part of our success, as it has been with other scaled software companies. Leagh, anything you would add? I guess the only thing I would add is that, you know, our retention rates continue to hold, which means that our customers are very happy, with the level of service that they receive from us and the value that they receive. As a result, happy customers buy more software. Our next question comes from Jackson Ader from MoffettNathanson. Oh, great. Thanks for taking my questions, guys. I was just, yeah, curious, when you look at some of these large deals heading through the pipeline, or, or I should say large go-lives coming at the end of the year, can you give us a sense of what markers you either can or can't already see that say, "Yeah, we feel really good about these," or, "You know, we might be able to tell in a few months' time, this isn't really a good sign." What are some of the things that you tend to look for as you head into those go-lives that mean that they are indeed gonna hit in the fourth quarter? This is not a business run on luck and chance. We have a weekly meeting, a service forecast call, where we go through every account that is currently under implementation. For each account, we assign a risk of them actually pushing. Any account that has a risk of pushing of more than 30%, we go into actual detail. When we actually look at the actual forecast, which we do on a quarter-over-quarter basis, we have a forecasted amount that we hold the sales group account, sorry, the services group accountable for, and it's run very well. I, I mean, we have Steve here as well. Steve, anything that you would add from a color perspective? All I would add is we actually have very good visibility. We have a very good understanding of what we expect to happen, and we have the ability, and we've shown the ability to accurately predict that. In terms of our view for the second half of the year, I think it's based on a pretty solid foundation and experience, so we feel confident in it. Okay. All right, great. Then, Leagh, on the, on the full suite penetration, so if half of the kind of new wins in this year are, are full suite, customer base, like 40% or so, what, what kind of timeline do you try and build toward after maybe an initial deal that doesn't go full suite, that you end up, you know, kind of building toward a roadmap to getting them full suite customers? Thank you. Great question. What I would say is done right, and we try and do this more and more consistently, we position a full suite right up front. We assess the full end-to-end white space in our customer and therefore the maximum value that we could contribute. If a customer decides to begin with a SKU or two, they do it knowing what the total available white space and total available value is, which means that we have an opportunity to go back almost right away to begin talking about expanding the value. Particularly so, as we take those modules live, we prove that we're doing it on time and on value. You can imagine that customers are quite receptive to expanding their relationship. That's great. Makes a ton of sense. Thank you. You're welcome. Great. That concludes our conference call for the night. Thank you, everybody, for joining us. We'll catch up with you over the quarter.