Good day, and welcome to the Everbridge, Inc. First Q uarter of 2021 Earnings Conference Call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on your touch-tone phone, and to withdraw your question, please press star, then two. Please note this event is being recorded. I would now like to turn the conference over to Joshua Young, Vice President of Investor Relations. Please go ahead, sir. Thank you. Good afternoon, and welcome to Everbridge's earnings conference call for the first quarter of 2021. My name is Joshua Young, Vice President of Investor Relations for Everbridge, and with me on today's call are David Meredith, Chief Executive Officer, and Patrick Brickley, Senior Vice President and Chief Financial Officer. After the market closed, we issued our earnings release, which could be accessed on the investor relations section of our website at ir.everbridge.com. This call is being recorded. A replay of the teleconference will be available on our IR website at the conclusion of today's event. During today's call, we will make forward-looking statements regarding future events or the financial performance of the company that involve certain risks and uncertainties. The company's actual results may differ materially from the projections described in such statements. Factors that might cause such differences include, but are not limited to, those discussed in our Forms 10-Q and 10-K, as well as other subsequent filings with the SEC. Information provided on today's call reflects our perspective only as of today, May 10th, and should not be considered representative of our views as of any other subsequent date. We explicitly disclaim any obligation to update any forward-looking statements or our outlook. During today's call, we will refer to certain non-GAAP financial measures. A reconciliation of our GAAP to non-GAAP financial measures is included in our press release. With that, let me turn the call over to David for his prepared remarks. David Meredith? Thank you, Joshua, and thanks to all of you for joining us today. We feel very excited about our first quarter results, which not only exceeded our guidance, but demonstrate continued positive momentum for our key long-term growth strategies, Critical Event Management and Public Warning. During the quarter, we benefited from the re-acceleration of non-COVID-related CEM and Public Warning use cases while still expanding life-saving vaccine distribution and back-to-work solutions. Increased demand for both our CEM and Public Warning platforms drove continued average selling price growth that delivered the largest quarterly revenue beat in our history. In fact, Q1 represented our fourth record quarterly beat in a row and our 18th consecutive quarter of outperformance as a public company. Revenue in the quarter was $82.2 million, representing growth of 40% from the prior year. This, despite the challenging comparison with last year's outstanding Q1 results. Our strong revenue, coupled with effective cost management, produced a new high watermark for profitability in a first quarter, with adjusted EBITDA that landed above the high end of our guidance at $5.3 million. Last quarter, we discussed the return of larger CEM deals in the sales funnel as businesses transition from lockdown mode to reopening mode and make plans to support the future of work in a new normal post-vaccine distribution. Accordingly, our Q1 performance reflects strong pipeline conversion, which included more than doubling the number of deals larger than a half million dollars and increasing the number of $200,000+ deals by 60% from just one year ago. This helped fuel several new high watermarks for Everbridge, including all-time records for revenue, trailing 12-month average selling price or ASP, international revenue mix, and operating cash flow, which was $19.8 million for the quarter. In addition to these records, we also posted our best-ever first quarter results for non-GAAP gross margin, free cash flow, and adjusted EBITDA. Our long-term growth strategy continues to drive our success through landing and then expanding deployments of our CEM platform at organizations, as well as winning public warning solutions for governments. Our CEM growth results both from landing new customers from global geographies and vertical markets, as well as selling additional solutions to existing customers. We continue to expand the penetration of CEM by increasing the number of use cases and extending our capabilities to additional departments within our customers' organizations. For example, in the first quarter, General Mills, a multinational marketer and manufacturer of branded foods, became a new Everbridge customer by adopting CEM to automate threat identification, organizational response, and visualize supply chain risk. One of the world's largest intergovernmental organizations became a new vaccine distribution customer in the quarter. This customer selected our vaccine distribution software platform to help them manage the scheduling, tracking, and communications of vaccine immunization and administration for millions of doses across dozens of countries, highlighting the scalability of our platform. More and more frequently, our market reputation enables us to engage with more senior leadership at large organizations, resulting in bigger deal sizes and increased standardization on Everbridge as part of a vendor consolidation strategy. This strategy provides a single pane of glass across digital and physical threats, while also saving money for our customers. New CEM product features and capabilities announced in the first quarter, combined with our recently closed acquisition of xMatters, further support this approach. In our first quarter, this strategy continued to drive greater market acceptance of our CEM platform, as illustrated by larger wins. Increasingly, these include seven-figure deals. On the public warning side of the business, in Q1, we further expanded our presence in key markets. We announced two new public warning patents, including our latest for technology that focuses on hybrid population alerting systems and intelligent sending of messages in public mobile networks. We have won customers in more countries than any of our competitors across every major region of the world. When governments and carriers look for global, large-scale referenceable accounts and public warning examples, they select Everbridge. Driving our most strategic growth engine, we saw customers deploy numerous new Critical Event Management use cases in all of our target markets and across the globe. We continue to push the technology boundaries as an innovator and pioneer in the CEM space for new applications and use cases in a post-pandemic world. This past quarter, we also announced the expansion of our industry-leading Critical Event Management platform to provide the most comprehensive, integrated suite of digital and physical resiliency solutions for global organizations. Customers can rapidly deploy our CEM platform on a modular basis to support hundreds of positive ROI use cases across five major categories. The first category is CEM for People and Life Safety, which fulfills the duty of care that an organization has for its customers, remote and on-site employees, travelers, and field workers. Next is CEM for Operations and Business Continuity, which helps ensure businesses can keep their operations running faster. CEM for Supply Chain Risk, which manages and optimizes supply chains and supply routes. Followed by CEM for Smart Enterprise, which accelerates digital transformation through smart automation, secure IoT management, big data, and advanced analytics. Finally, CEM for Digital, where our solutions protect an organization's brand and reputation while providing resiliency for Information Technology systems and cybersecurity in an increasingly virtual world. Demand for these CEM implementations, as well as our demonstrated domain expertise and leadership, drove numerous wins and expansions in the quarter, including Kimberly-Clark, a leading manufacturer of paper-based consumer products, became a new Everbridge customer as part of their effort to fulfill a duty of care to employees with initial emphasis on post-pandemic business travel. T-Mobile, one of the largest mobile carriers in North America, signed a significant expansion deal by adopting CEM to establish an enterprise-wide threat and incident dashboard. A few other examples from Q1 include Ricoh USA, that followed the lead of their counterpart in the U.K. to become a new Everbridge customer. Ricoh will be leveraging our Risk Intelligence and Mass Notification capabilities to establish a robust threat assessment tool paired with a communication platform to accelerate their security strategy. Dentsu International, a global advertising and digital marketing company, also expanded their relationship with Everbridge CEM to protect their 46,000 employees from the impact of COVID-19 by leveraging Risk Intelligence and internal collaboration tools to automate and streamline incident response. Turning to examples of other meaningful wins, you may be aware that Everbridge serves dozens of Native American and First Nation tribes across North America. In Q1, our win with the Muscogee (Creek) Nation Department of Health expanded their relationship with Everbridge by selecting our COVID-19 Shield: Vaccine Distribution solution to more efficiently coordinate and administer the COVID-19 vaccine to its tribal members. The Muscogee (Creek) Nation, which is the fourth largest Native American tribe in the country, chose Everbridge to automate the registration, scheduling, administration, tracking, and reporting of vaccinations among its more than 90,000 citizens in the Tulsa area. In addition, Citizens Bank, a leading bank in the northeastern United States with over 1,000 branches, added Safety Connection Pro in order to drive a quantifiable improvement in operational efficiency. In the federal government space, we continue to advance Everbridge's position as the leading CEM provider by achieving more Federal Risk and Authorization Management Program Authority to Operate certifications, or ATOs for short, for our solutions than any of our competitors. In the first quarter, we grew our relationship with the U.S. Army, as well as expanded our relationships with both the U.S. Air Force and the U.S. Navy. During the quarter, we signed a meaningful contract expansion with the U.S. Army's Joint Analytic Real-Time Virtual Information Sharing System program. As many of you may recall, the Joint Analytic Real-Time Virtual Information Sharing System, or JARVISS, represents one of our largest customers overall and an anchor customer for our federal program. JARVISS primarily focuses on anti-terrorism and other security threats, such as active shooters and natural disasters that might affect Department of Defense operations. Since the outbreak of COVID-19, JARVISS has also been supporting ongoing threat analysis of the pandemic, giving Army commanders and other DoD users critical insight into the impact of COVID-19 on global operations across 400 military locations in 70 countries. Our expanded agreement extends this program beyond the U.S. Army to now include support for the U.S. Air Force as well. Our federal activity in the quarter also included a significant expansion of business with the U.S. Navy, growing our combined business with another military branch to over seven figures. Turning back to the enterprise business, we delivered a strong customer ROI with a CEM supply chain implementation in the medical market. Dexcom, a leading manufacturer of continuous glucose monitoring systems, chose Everbridge to mitigate the impact of supply chain risks on their global operations. Our Q1 results also demonstrate renewed activity in markets negatively impacted by COVID, such as the return of healthcare purchases. For example, to support their IT systems readiness, NYC Health + Hospitals expanded their IT Alerting capabilities while maintaining secure HIPAA-compliant communications. Another healthcare example from Q1 was Alexion, a global biopharmaceutical company who expanded their use of IT Alerting. Speaking of IT Alerting, we continue to expand our support for next-generation enterprise-wide digital and physical fusion centers. For example, our just-closed acquisition of xMatters will help accelerate digital transformation across IT service operations, cybersecurity, and DevOps incident response. In an increasingly digital world, with dramatically more remote employees, the rapid expansion in interconnected devices and systems, and rising instances of damaging cyber attacks, IT organizations for large enterprises and governments are under more pressure than ever to accelerate their digital transformation while providing solutions for IT resiliency and uptime. By combining forces with xMatters, we believe Everbridge can help organizations discover IT issues more quickly, assemble responders, apply remediation code, manage patches, and drive continuous improvement with analytics, significantly increasing an organization's ability to recover from critical digital events to keep their businesses running faster. In fact, this combination further strengthens the industry's most compelling end-to-end CEM platform to identify assess, and manage critical events that can impact an organization's digital and physical assets. Together, our capabilities provide the most compelling IT and cybersecurity solutions for CIOs at the largest Fortune 500 enterprises. Turning to our metrics for the quarter, our performance clearly reflects the result of our land and expand strategy, with large new customer wins, multi-product expansions, and continuing demand for higher ASP products, particularly our CEM solutions. We added 135 net new enterprise customers in the first quarter, slightly above our target range of 110-125, increasing our total enterprise customer count to 5,748. 11 customers selected or expanded to CEM, raising the total number of CEM customers to 139, a 62% increase in the number of CEM customers from a year ago. While this demonstrates excellent momentum, it also highlights our significant opportunity for continued expansion at existing customers. As in the fourth quarter, our momentum with large transactions continued in Q1 with quarterly ASPs that were over $100,000 again. This produced an increase in our trailing 12-month ASP metric to $86,500 in the first quarter, a new record. Contributing to this ASP growth, we closed 45 deals valued more than $100,000 per year, a high-water mark for a first quarter, including a record number of deals that were valued at more than $500,000 per year, more than doubling the number of deals greater than a half a million dollars from the prior year period. From a product mix perspective, a record 66% of new and gross sales over the last four quarters came from new products, reflecting high demand for our newer applications as well as continued appetite for our core products. Our international business also continued to post strong growth results in Q1, with 30% of total revenue coming from outside the U.S. compared to 20% a year ago, representing a record high mix of international revenue. New customers that led this growth included the vaccine distribution program I already mentioned, one of the largest real estate projects in Riyadh, Saudi Arabia, as well as a 100-acre city within a city campus in Southeast Asia. Our revenue mix by vertical was relatively consistent, with 63% from corporate, 26% from local, state, and countrywide government, and 11% from healthcare, reflecting growth across all of our target markets. As always, we remind you that quarterly metrics can fluctuate, but that the longer-term trends continue to reflect our overall business momentum. These outstanding metrics demonstrate the growing market acceptance of our overall CEM strategy, as well as our ability to close larger transactions from our pipeline as organizations increasingly embrace CEM to address a multitude of high ROI use cases. Consistent with our mission to keep people safe and organizations running faster. Global impact investors increasingly recognize Everbridge as an organization that utilizes our technology platform to address some of the most challenging issues of the day in order to help make the world a better place. Our mission-driven organization also earned recent recognition across several categories, including best outlook, best place to work, best sales teams, and best global culture. In a competitive technology market, our culture and reputation enable us to continue to attract strong talent. Turning to the future, later this month, we will continue on our Road to Recovery series of executive thought leadership symposia, which draw audiences from a wide range of industries and markets from around the world. Please join us on May 26th and May 27th as Bill Clinton, the 42nd president of the U.S., keynotes our first summit in 2021. Bill Clinton will be joined by numerous additional global leaders, luminaries, and experts, including former Secretary of State Madeleine Albright and Steve Forbes, Chairman and Editor-in-Chief of Forbes Media. Also presenting are Dr. Judith Monroe, Chief Executive Officer for the Centers for Disease Control Foundation, and Dr. Jay Butler, CDC Deputy Director for Infectious Diseases. Additionally, senior sports executives from the National Basketball Association, Major League Baseball, the Olympics, and Premier League football, or as we say in the U.S., soccer, will share their insights on the future of sports in a post-pandemic world. With the participation of C-suite executives from Fortune 500 companies and board directors, this summit promises to be an illuminating event which we look forward to sharing with you. In summary, we started off the year with exceptional first quarter results. During 2021, we will build on our success of advancing our CEM and Public Warning solutions to enable organizations around the world to keep people safe and their operations running. We're proud of our accomplishments and believe the best is yet to come as we continue to penetrate and serve a multibillion-dollar market. I'll turn the call over to Patrick for more details on our first quarter financial performance and our guidance for Q2 and the full year 2021. Patrick Brickley? Thanks, David. We've begun the year on a high note with record revenue of $82.2 million, an increase of 40% from a year ago, and exceeding the high end of our guidance range by more than ever before. This growth was driven primarily by strong subscription revenue that increased by more than 30% both year-over-year and on a trailing 12-month basis, as well as certain projects that achieved implementation success in the quarter. Our net revenue retention rate continues to track well above 110%, reflecting consistently strong customer satisfaction, combined with demand for additional Everbridge technology at existing customers. Looking at the details of our P&L, unless otherwise indicated, I will be discussing income statement metrics on a non-GAAP basis. A reconciliation of GAAP to non-GAAP measures has been provided in the earnings release we issued earlier today. Gross margin was 73.6%, an increase of 680 basis points from last year as we continue to benefit from greater scale. Total operating expenses in the quarter were $58.2 million, an increase of 25% from a year ago, reflecting continued investments in our platform and our go-to-market strategy. adjusted EBITDA was $5.3 million, well above the high end of our guidance range, and reflected the revenue upside in the quarter. This represents a meaningful increase from our adjusted EBITDA loss of negative $4.8 million in the year-ago quarter. Net income in the first quarter was $8 million, or $0.18 per diluted share, compared to last year's loss of $5.5 million, or negative $0.16 per share. On a GAAP basis, our net loss was $21.8 million. Looking at our balance sheet, we ended the quarter with $743.2 million in cash equivalents, restricted cash, and short-term investments, an increase from $475.6 million at the end of the fourth quarter, reflecting the net proceeds from our 0% convertible debt financing, partially offset by a repayment of our 1.5% convertible notes during the quarter. Cash balances at the end of the quarter also benefited from record operating cash flows of $19.8 million and free cash flow of $15.5 million, which was just shy of our record fourth quarter performance. Note that our cash balances at the end of the quarter do not include the cash impact of our acquisition of xMatters, which closed this past Friday and totaled $165 million net of cash acquired. Total deferred revenue was $184.5 million at the end of the quarter, an increase of 27% from a year ago. As we note every quarter, our deferred revenue balance at the end of any given quarter can vary due to a number of factors, including the timing of significant new contracts and the timing of annual billings for new and existing customers. As such, the change in deferred revenue in any given quarter is not an accurate indicator of the underlying momentum in our business. We believe our trailing 12-month performance is much more indicative of our overall business trends, and that our longer-term performance continues to support our growth objectives. In addition, we continue to have an eight-figure backlog of contracts that are signed but not yet invoiced, and whose revenue will be recognized in upcoming quarters. Now I'll turn to our guidance for the second quarter and full year. Our updated guidance for 2021 considers the impact of our acquisition of xMatters. Having just completed the transaction on Friday, our expectations for the financial contribution from xMatters for the remainder of the year have not changed from the view we provided about a month ago. Similarly, we remain positive about expanding our ability to help customers manage both digital and physical threats to the people, organizations, and operations, and are optimistic that xMatters will help support our long-term ambitions. For the second quarter, we anticipate revenue of between $83.7 million and $84.1 million, representing growth of 28% to 29%. We anticipate adjusted EBITDA to be between negative $5.2 million and $4.8 million. We anticipate a non-GAAP net loss of between $8.8 million and $8.4 million, or a loss of between negative $0.23 and negative $0.22 per share, based on 37.6 million basic and diluted weighted average shares outstanding. Stock-based compensation expense is expected to be approximately $16.7 million for the second quarter. For the full year, we now expect revenue to be in the range of $358 million-$359.6 million, representing growth of 32% to 33%. We anticipate adjusted EBITDA will be in the range of $7.9 million-$8.7 million. We expect a non-GAAP net loss of between $7.4 million and $5.8 million, or between - $0.20 and -$0.16 per share, based on 37.3 million basic and diluted weighted average shares outstanding. This guidance assumes estimated stock-based compensation expenses of approximately $66 million for the year. We continue to anticipate that free cash flow will be approximately break even and perhaps slightly positive for the year. In summary, we're off to a great start in 2021, with results that well exceeded our expectations and strong momentum setting us up for an excellent year. Our acquisition of xMatters advances our position as the leading provider of enterprise-scale digital and physical resiliency solutions. We remain optimistic that we can continue to penetrate the multibillion-dollar opportunity we are addressing in the years ahead. Now, operator, we'd like to open the call for questions. Thank you. We will now begin the question and answer session. To ask a question, you may press star then one on your touch-tone phone. If you're using a speakerphone, please pick up your handset before pressing the keys. To withdraw your question, please press star then two. At this time, we'll pause momentarily to assemble our roster. The first question will come from Sterling Auty with JP Morgan. Please go ahead. Thanks, guys. Sterling Auty from JP Morgan. Hey, just actually want to start more of a housekeeping. Want to make sure I understand the guide for the full year. Can you remind us more specifically what was the expectation that you gave about a month ago for xMatters? If I take the beat and add it to the midpoint what you had, it looks like you're including about $9 million for xMatters. Is that the right way to think about it, in that the guidance was really taking the beat, flowing it through to the full year, and then adding xMatters to it? Hey, Sterling. Thanks for the question. This is David. We did have a little bit of pull forward in the quarter, things that came in a little early, but I'll let Patrick speak to that. Patrick, do you want to go ahead and do the full answer? Yeah, sure. As David said, we did have a little bit of pull in. Our guidance for Q2 and for the full year, we're doing our usual. We're factoring in uncertainties that impact both revenue and profitability. We were happy to see implementation success at certain Public Warning projects that results in some additional revenue in Q1. Really, the strength of Q1 and what we're excited about for the rest of the year reflects a re-acceleration of non-COVID-related CEM and Public Warning activity, the increasing number of large deals that you saw. In fact, subscription revenue grew more than 30%, both in Q1 and on a trailing 12-month basis. Our current remaining performance obligation grew 34%. These, on top of the existing backlog, which I referenced, of signed but not yet invoiced contracts, which is still measured in the mid-teens of millions of dollars, and which we hope to recognize into revenue into upcoming quarters. These give us a lot of momentum as we look out towards the rest of the year. As usual, when we're providing guidance, as we've been doing for the past many quarters now, we're trying to provide a prudent outlook, and we hope to be able to continue our track record of outperforming expectations. That makes a lot of sense. One follow-up. You talked about over 60% of the business coming from new products over the last 12 months, and you give some anecdotal examples. When you look at it as a whole, which of the new products are making up the biggest portions of that, or is it very evenly diversified? Yeah, thanks, Sterling. We really had strength across our product portfolio. I think we did mention, for example, our IT Alerting was one of our faster-growing segments, and that's one of the reasons why we're so excited about completing the xMatters acquisition, because really, xMatters has been the leader in the enterprise play for that space, and we've been focused on the enterprise in the last four or five years since we launched that product. Putting those two together, I think, squarely positions us as the leader if you're a Fortune 500 company looking for an enterprise-class solution in that space. That's an area that definitely stuck out, and I think we talked about that earlier with the announcement of the acquisition. Got it. Thank you. The next question will come from Matt Stotler with William Blair. Please go ahead. Hey, guys. Thank you for taking my questions. I guess I'll just start off with one on the broader M&A front. Obviously, congrats on the xMatters acquisition. A bunch of other ones here this year. It seems like on one hand, M&A has always been a core part of the Everbridge product strategy, right? I think historically it's been low 30% organic growth and a few points from acquisitions. It seems like the appetite definitely has picked up on both a frequency and size perspective. Would love to understand the factors that are driving this adjustment strategy. You've obviously always been looking at where the puck is going and for looking multiple years down the road. Is this kind of a temporary dislocations around COVID and being opportunistic, or is this more of a permanent shift relative to what we're used to historically? Yeah. Hey, Matt. Thanks for the question. M&A has always been part of the strategy for Everbridge, and I think Jaime always talked about something in the mid to high single digit of the growth rate coming from acquisition and the rest coming from non-acquisition. What really drives those decisions are the strategic fit of the product. If you look at one2many, that was an area where we were the leader in Location-Based short message service, and we really felt like we could transform that industry by having a hybrid solution where you could do Cell Broadcast or Location-Based SMS. Acquiring the leader in Cell Broadcast just made sense. I think similarly with xMatters, and we're seeing even over the weekend, a lot of media around cyber attacks and just the need for an enterprise to be secure on the digital side with all the digital transformation, employees being remote, future of work, the opportunity to take the growth we're seeing on the ITA side and put it with the leader on enterprise ITA, we feel is very strong. Because when you put the digital CEM for Digital along with physical, and we can really own the fusion center for the enterprise where they can have one single pane of glass and look across all their digital and physical risks. We think that was a really compelling strategic fit from a product roadmap perspective, and that's why we did it. I don't think the strategy's really changed from what Jamie was doing for years, which is targeted tuck-ins that allow us to strengthen or accelerate our technology roadmap or to help us get into geographies, particularly internationally, that we're not in currently. We don't really see it as a big strategy shift. I think the law of large numbers applies as we get bigger, the percentage, the numbers will look bigger, but we don't view it as a strategy shift. Got it. Okay, that's helpful. Then maybe just one on the partner channel. Would love to just get an update on that front, specifically maybe how much of the business at this point is being influenced by partners and how that pipeline is shaping up for additional partnerships. I know that still relatively new, but obviously some exciting opportunities with Telarus and the expanded relationship with Atos. I would love to also, any examples of additional situations like California where you're seeing partners really pulling you into new opportunities, that will be helpful as well. Thank you. Yeah. Great. We've talked a lot about partners. We don't break it out right now, but I can tell you that we did exceed our internal targets for the quarter on our partner bookings, we're pleased with that. We're getting more leads coming in from partners than we've ever had in the history of the company. We've got some pretty exciting partnerships that we'll probably be announcing later this year. We've already earlier talked about partners like Atos, who've made a multi-year, multi-million dollar minimum commitment to sell more of our stuff on a global basis. You mentioned Cal OES as a great example where we had success with them in California first, and now we've expanded the relationship, and they've made a commitment. Other types of partners like Northland Controls, where they've also made a similar minimum commitment going forward. It's a really good fit for people that want to turnkey outsource the whole operation, and they can provide the bodies, and we provide the technology. One of our big CEM Fortune 500 deals that we've announced previously actually came from that partnership. We're getting a lot of traction. Other partners like Control Risks that we've been working with for a while, who are thought leaders on a global basis around risk management into the C-suite, and they're very much a professional services-led organization. It's very synergistic where they can pull in our technology platform, and it just works well for them, and it works well for us. I think we've done a lot of foundational building over the last year. Better partner portal, better tools, better processes, more awareness, building out a partner marketing organization, and all that's starting to kick in now. I think we expect to continue to see more growth and more success in that space. That's helpful. Thanks again. Thank you. The next question will come from Scott Berg with Needham & Company. Please go ahead. Hey, David and Patrick. Congrats on a good quarter, and thanks for taking my questions. David, I guess I'd like to start off on the JARVISS extension. That, as you mentioned, has been one of your largest customers. Can you help us understand what's in this contract? Is it more modules? It looks like you're probably extending the functionality to a couple other units within the armed services, but any data there would be helpful. Thank you. Thanks, Scott. Appreciate the question. We're very excited about this expansion. This is a really good example where the power of our platform, it lends itself to so many different use cases. Originally, JARVISS started as anti-terrorism and physical safety. When COVID-19 came on, we were able to pivot, and they were able to leverage the platform to help with COVID-19 as well. Now we are, as we've been wanting to do, and are really excited to be extending that platform to help different parts of the U.S. Air Force. We see opportunity for continued growth across the Department of Defense. Getting a multi-year extension, as well as there's always additional things that they want to use the platform for and enhancements and things that they ask for that we continue to do for them. Overall, it's just a great news, and we're very excited about it, and it's a big, important customer for us with a lot of headroom to continue to grow across the DoD. Excellent. From a follow-up perspective, I wanted to ask Sterling's question in a slightly different manner. I guess if you look at your pipeline activity, sales pipeline today, you've obviously talked about deals re-accelerating for non-COVID-related functionality, but if you look at that pipeline going out in the next couple three, four months, relative to what you saw in maybe the year time before the pandemic, does that composition differ at all? Just trying to understand if your customers' priorities maybe have changed at all over the last 12-18 months. Well, yeah. Thank you. What we're seeing now is people are starting to focus on their sort of post-vaccine distribution, future of work, and how do we go forward. That's really exciting for us because if you look at the three quarters before COVID kicked in, I think we posted mid-50% billings growth those three quarters. We were getting a ton of momentum, and there are a lot of use cases that we're used to selling, that really we didn't sell as much during COVID. We're starting to see those use cases coming back. Our sales team loves that. For example, travel risk management. People are starting to travel again, and we mentioned a few examples of deals that were catalyzed by wanting to cover travel. Healthcare is one where, in the midst of COVID, a lot of the healthcare entities were not in a position to be buying new software. They were just dealing with the crisis at hand. Now they're able to start to come back, and we're seeing those deals and that funnel start to come back. We're really excited about getting back to some of the use cases that we have. The general awareness has risen about why CEM is a must-have, not a nice-to-have. Now some of the use cases that we really are good at selling are going to be turned back on, and we're starting to see that happen, and we're starting to see that in the funnel. We're really excited as we exit Q1. Great. Congrats again. Thank you. Again, if you need to ask a question, please press star, then one. Our next question will come from Brian Peterson with Raymond James. Please go ahead. Great. Thank you. This is Alex Charron for Brian. David or Patrick, one question on the international growth. I know the countrywide deals are probably the biggest opportunity, International revenue accelerated again this quarter to over 100% growth. I'm just curious if you could talk about what's driving that, and with that, any traction you're seeing on the corporate side internationally? Thanks. Patrick, do you want to take that one? We've been diligently building out our international go-to-market expansion for the past few years. A number of years ago, our% of revenue from outside the U.S. was in the single digits, and right now we're approaching a third. We think it could be a half or two-thirds or even more of our revenue. We've been investing a lot in the European region, not just the Public Warning opportunity with the EU, but last year we did a formal launch of CEM in EMEA, and we've got office in the Middle East, where we've been landing a lot of large deals, and now we're seeding APAC. On the one hand, it's very early days. On the other hand, we're proud of the success that we've had to date, and we anticipate that you'll see continued success going forward. It's early, I don't know that it'll be linear. It might bounce around a bit, but we think that the trend will remain up and to the right for a long time. Okay, great. Patrick, one more for you following up on Sterling's guidance question, but on the profitability side. Really nice EBITDA beat this quarter, so the 2Q guide looks like a fairly sizable move. Could you just help parse out the impact from the acquisition and the deferred revenue haircut versus just increasing growth investments? Well, it's hard to do. We just closed the deal last Friday. We're certainly giving ourselves a wide berth here in the first quarter post-acquisition on the bottom line. You did see that for the full year, we raised a little bit. We do think that net net, this acquisition is going to be squarely accretive to adjusted EBIT in 2022. We just want to be prudent as we put the acquired company's financials through public accounting, but we're optimistic that we're going to do this year what we said we were going to do, which is continue to make incremental improvements on the bottom line, whether that's adjusted EBITDA or non-GAAP net income or free cash flow. We anticipate gradual improvement versus last year, despite any purchase accounting impact of this acquisition. All right, great. Thank you. You bet. The next question will come from Will Power with Baird. Please go ahead. Okay, great. Thanks for taking the question. I just wanted to ask on population alerting. I know in the press release you alluded to expanding presence in APAC. I wonder if you could just kind of speak towards the pipeline of opportunities you're seeing within population alerting there. Then, I guess likewise, just any kind of update on the European opportunity. What are you seeing in terms of request for information, request for proposal activity? When do you think we might start to get some announcements? Is that the end of this year? Is that into 2022? Any update there would be great. Will, thanks for the question. We're very excited about the Public Warning opportunity. We've got a pretty aggressive outreach all across the globe, and we're engaged in a lot of discussions currently. In terms of the quarter, we hit some significant milestones on some of the projects we've got going. We hit some expansion opportunities, and we're engaged in various RFIs, RFPs. One of the big things we're seeing, and I think it's really good, we talked a lot about the front end and the back end of these deals. The front end being selling to the government, but then the back end is you sell the back end to all the wireless carriers in the market, and that gives you an opportunity to potentially double or triple the total opportunity size in a region. What we're seeing is the ability now for us to go in and sell to the carriers, sometimes even ahead of the government, or give us an opportunity if the government's not ready, we can still do something with the carrier. We're seeing a really good mix of funnel activity on the carrier side as well. I think that's also really good that we have the ability to do both Cell Broadcast and Location-Based SMS, because in some cases you've got customers that have one and they're thinking they want the other, or they want a hybrid solution. Our ability to play in both those spaces with the leading solution serves us very well. We don't have any other announcements to make at this time in terms of specific countries, but overall, we like the progress we're seeing. Okay. If I could just maybe follow up quickly on one of the other comments, or questions with respect to JARVISS. I know you alluded to working with the U.S. Air Force. Is that something that could be the same size as what you were doing with U.S. Army, or are you just kind of getting started there? Any further kind of color about the opportunity there? Yeah, thank you for the question. We are just getting started there. This is our entry into it, with parts of the Air Force, but it's not as comprehensive as the current maturity level we're at with the Army. There's still room to do more there. Okay, great. Thanks. Sure. The next question will come from Terry Tillman with Truist Securities. Please go ahead. Thanks for taking my questions. Hi, David and Patrick, and congrats on the quarter and the xMatters acquisition. Maybe David, for you, the first question just relates to, with xMatters now having it in your portfolio on a stronger kind of IT Alerting or kind of a digital approach strategy, what does this do where maybe, like when you're involved in a fusion center opportunity or a big CEM deal, how often was the IT Alerting side coming up and maybe you didn't have enough of strength and capabilities there, and so this is gonna shore that up? I'm kind of curious what this could do on even accelerating further CEM wins in these fusion center initiatives. Terry, thank you very much. It definitely is extremely relevant to what we're doing with CEM. We talk about CEM for Digital, that really is IT, cyber, and when you think about the Internet of Things, you're gonna have 75 billion devices on the internet with an IP address. You're exponentially increasing the threat surface there. Post-COVID, you got more people working remotely. Our customers are telling us they want a single pane of glass for any risk, whether it's digital or physical. I just don't think there's anybody else in the industry that can do what we can do now for that. It's a very powerful strategic combination, and I think our customers so far, feedback's coming in very strong, and we're excited about it. As far as what they bring versus what we have, I think there's definitely capabilities there that are complementary. As Patrick mentioned, we literally just closed the deal Friday. Today's Monday, so it's one business day later. We had Hart-Scott-Rodino, so there was things we couldn't get into. Now we're able to really get into it. We'll be more into the specific details. I do think they've always focused on the enterprise, and that's really been their space. We've been focused on the enterprise. I think when you put the two together, you've really got the default choice for an enterprise buyer. Yep, sounds good. I guess, Patrick, in terms of the four straight quarters of record beat or increasing size of beat, could you remind us again in terms of stack ranking, is it a certain products or stock keeping units that there's just more variability and/or maybe it's just been the non-COVID related business that you've just been more conservative around? Has anything changed in your outlook going forward? Thank you. Hey, Terry. Well, we just continue to remain prudent. We're really excited about the back half of the year, given the momentum that we're exiting Q1 with and entering Q2 with. As I mentioned earlier, we did pull some revenue forward into Q1, and we do have some one-time revenue in our quarterly revenue. Sometimes that's a little bit hard to predict, but it's generally very immaterial to results, less than 1% in any given quarter. Usually around 2% or 3%, excuse me, in any given quarter. This quarter was a little bit more than that, and that was about half of the beat, was a couple million dollars of incremental one-time revenue related to some deliveries. Going back to that backlog that we've mentioned of deals that we have signed and are on schedule for delivery in the upcoming quarters, we have not yet invoiced. These are things that are not in our deferred revenue. Harder to see them coming, and sometimes the delivery for us isn't entirely predictable. We're excited that in Q1 we got a number of those projects across the line, and we hope to be able to continue to do that for the next many quarters. The next question will come from Koji Ikeda with Bank of America. Please go ahead. Hey, David and Patrick. Congrats on the nice quarter, and thank you for taking my questions. I have another question on xMatters for you. It sounds like it's very relevant with your deal flow out there. I'm just kind of wondering, is the buyer the same for xMatters as it would be for your CEM products? If it is, or even if it's not, does this change your go-to-market motion at all? Yeah, Koji, thanks for the question. By the way, I just want to point out too, I know on the ASP that we did hit an all-time record high this quarter on our ASP. I just want to make sure that you guys noted that as well. On the buyer, it's a great question because what's happening now is the audit committee of the board of directors is being expected to keep an eye on all forms of risk, not just financial risk. There's board-level awareness of this, I think, coming out of COVID-19. You've got different personas within the C-suite that we deal with. Physical threats, we're dealing with the Chief Security Officer. For our IT Alerting, for IT, for cyber, we're dealing with the CIO, sometimes now an empowered Chief Technology Officer, Digital Officer, Chief Information Security Officer. For the future of work, you're dealing with the Chief Human Resources Officer, sometimes even Chief Legal with some of these things with these COVID steering committees that we're seeing. There's multiple different personas in the C-suite that we deal with, and each one has different use cases that they're focused on. Definitely, we like the fact that xMatters really strengthens our positioning with some of the better-funded personas like the CIO, like the CTO. When we can say, look, we've got one platform to support your entire enterprise across all digital and physical risks and remediation, different parts of that will respond with different people. We definitely felt we need to be very strong on the IT piece, given where the industry is going with digital transformation, and we think this really puts us there. Got it. That's super helpful. Just one follow-up from me on xMatters too. Thinking about the contribution for this year, that somewhere to the $9 million-$11 million. I guess, how much revenue from a high level was coming international from them? Just another buyer mindset question. Internationally, given the great performance that you had in this first quarter and the accelerating revenue there, I guess, how do we think about the buyer's mindset internationally for a product like xMatters? Thank you. Yeah. Patrick, do you want to take that one? Thanks, Koji. It's great to hear you on the call. The mix, domestic, international, it's a little bit lower in terms of international as a% of total for xMatters. That being said, one of the elements of the strategic rationale for the acquisition was they do, at least in our experience, seem to have very good brand recognition outside of the U.S. Buyers know the xMatters value proposition, and they like it, and they appreciate it. That's been part of xMatters' ability to grow over the past few years. Given that international expansion is such an important part of our growth story for years to come, that was yet one more reason why we were attracted to that team and the offering and the opportunity to pull that into the CEM suite and bring that to buyers outside of the U.S. In fact, buyers outside of the U.S. who are looking at xMatters, bring them the CEM suite now. Got it. Thanks for taking my question, guys. Appreciate it. Yeah. Thanks, Koji Ikeda. The next question will come from Sterling Auty with JP Morgan. Please go ahead. Yeah, thanks. Just a follow-up. We're in such a volatile market where everything is under heightened scrutiny, so I want to make sure we're clear. You said half of the upside came from upfront revenue, but I want to make sure, is that completely exclusive of the pull forward? Was the pull forward something separate, or were they part of the same thing? Could you quantify the pull forward, if you could? Patrick, you want to jump on that? Look, we're going to try not to get too precise here at Q1. Like I said, we usually do a couple percentage points of one-time revenue. In Q3 and Q4 of last year, that was 4%, and this quarter that was 7%. That incremental portion is some that was pulled forward, some that's up-side for the year that was sort of unexpected. I would really encourage people not to try to parse it too much, especially if you're thinking about the impact on the rest of the year. Like I said, for guidance for the rest of the year, on the one hand, we're trying to be very prudent. We've got this acquisition that we need to digest. We've got deals that we're competing on that we need to sort through. On the other hand, we've got subscription revenue growth of more than 30%. We've got RPO, which current RPO, just around 34%. We've got record high ASP. We're seeing a re-acceleration of non-COVID related opportunities. We're really excited about the rest of the year, and we hope that we're setting expectations that we'll be able to outperform just like we have for the past 19 quarters. Excellent. Thank you. This concludes our question and answer session. I would like to turn the conference back over to David Meredith for any closing remarks. Please go ahead, sir. Thank you for joining our call today. We're very excited about our strong start to 2021 as we benefit from a re-acceleration of non-COVID related CEM and Public Warning use cases. With our acquisition of xMatters now complete, we are further strengthening our solutions for digital and physical security as more and more customers choose Everbridge. With the most proven, scalable, and reliable solution on the market, we are well positioned to continue penetrating a multi-billion dollar opportunity to drive increasing value for all of our stakeholders. We look forward to meeting with those of you who will be attending the JP Morgan and Bank of America conferences in the coming weeks, and at other events. In the meantime, thank you for your interest, and good night. The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.