Hello, and thanks for joining us today for ZoomInfo's 2022 Analyst Day. My name is Jerry Sisitsky, and I head Investor Relations for ZoomInfo. On behalf of the entire ZoomInfo team of more than 3,000 people around the world, we appreciate you spending a few hours with us to learn even more about the company. A lot has changed since our inaugural Analyst Day last year, and we're really excited to share with you updates from across the business. We have a great agenda planned for today. First, we're gonna share some insights into what it means to be a salesperson today, the tools, technology, and challenges to engaging with a prospect, and the work that needs to be done to close the sale. We also put you directly in the shoes of different people who use our platform, showing firsthand how ZoomInfo impacts their day-to-day business. You'll hear from our founder and CEO, Henry Schuck, as well as senior leaders from around the organization, who will reinforce why ZoomInfo is truly unique and set up for long-term growth and success. We're also delighted that you'll have the opportunity to hear directly from customers and learn more about their experiences. Following the presentations, we'll have a short break in the action as we prepare to transition to the Q&A portion of the event. If there are any questions that we don't address today, please email ir@zoominfo.com, and we will follow up. Lastly, please review the safe harbor statement. Statements made today that are not historical facts, including expressions of future goals, business and market outlook, and expectations for future financial performance are forward-looking statements and represent our outlook only as of today's date, June 2, 2022. These statements involve a number of risks and uncertainties, including those discussed in the Risk Factors sections of our filings with the SEC. Actual results may differ materially. Additionally, during this presentation, we will reference non-GAAP financial measures. You can find GAAP to non-GAAP reconciliations in the appendix to the slide deck which will be available at the conclusion of today's presentation. With that, let's jump right in. Ladies and gentlemen, thank you for joining us for our 2022 Analyst Day. The front office of the future is integrated, data and insight driven, and leverages software to drive efficiency. ZoomInfo's RevOS is the only platform that can holistically inform and automate the go-to-market motions of companies of all sizes. See for yourself. We've built the greatest source of data and insights that power the go-to-market motions for four different personas: sales, operations, talent, and marketing. Our MarketingOS solution will allow Albert, head of demand generation, to gain insights on existing campaign performance, conversions, and attribution. For the first time ever, Albert can build an audience based on business-to-business persona characteristics, push those out to the display and social media networks, and optimize conversion once those leads hit his website. We combine for Albert visitor intelligence, such as form fills, chat conversions, and website interactions with intent data and ideal customer profile parameters in the engagement map dashboard for a clear view of what each target account's in-market score looks like. Based on our recommendations, he can automate different engagement methods to push accounts to the evaluation stage. Ellen's company is one of the target accounts in Albert's audience and automation flow. Ellen heads to Albert's website and asks a few questions using ZoomInfo Chat, and she receives collateral answering her questions around competitor comparison. Thinking that she will read it later in the day, Ellen leaves the conversation. Our automation layer can be defined to identify those abandonments and route them to the right follow-up flow. Within minutes of Ellen abandoning the chat, Susan, the sales development representative, will get a Slack alert that a potential buyer from a high ideal customer profile account interacted with the chat. She clicks the link in the Slack message and lands on Ellen's ZoomInfo contact page. There she will have everything she needs to engage, qualify, and book a meeting. Ryan, the account executive, will be taking on this deal. Shortly before each call, Ryan heads to his inbox to check out the ZoomInfo meeting brief email that summarizes everything he needs to prepare for his upcoming meetings. With the integrated Chorus app, Ryan uses the real-time collaboration and note-taking capabilities that drastically speed up his workflow. Natalie, Ryan's manager, has the tools to review her team's pipeline as a whole, dig into specific deals with risk signals, mentor her team to act upon them, and ensure they hit their number. Thanks to the joint effort of the entire team, the deal was successfully won. Let's take a look at how ZoomInfo platform helps talent teams. Jane is a recruiting marketing specialist who uses employer brand campaigns to attract new talent. With MarketingOS, she uses the fully customizable ad wizard to create a new Facebook ad for her head of product role to attract new talents. Jacob is the assigned recruiter responsible for finding their new head of product. In TalentOS, Jacob has a complete view into his candidate pipeline at a glance. Just like in sales, speed is of the essence when it comes to replying to top candidates. This is why Jacob uses workflows to automatically add candidates if they've hit a certain criteria. Thanks to this workflow, new candidates are automatically suggested, and he can see why a candidate fits. Using the TalentOS Chrome extension, Jacob can find similar candidates and keep his pipeline full. Once he's found relevant candidates, he can add them to talent flows powered by Engage, which allow you to create email sequences for automated follow-ups. Mindy is one of those candidates who was added to the talent flow. She receives an email from Jacob about the new head of product role and visits the career page to learn more about the company and position. Mindy is a high-priority candidate, and the ZoomInfo chatbot recognizes her and allows her to directly attach her resume, and Jacob is notified, so he can take action faster. ZoomInfo's fully integrated RevOS is a unified system of data, insights, software, and integrations that creates complete visibility into how to identify, engage, convert, and win. It's 2022, and most organizations are still going to market in a disjointed way. They lack the technology and data needed to effectively reach prospects. They don't know when prospects are in market and ready to act. Sales and marketing teams have to toggle between multiple systems that are riddled with stale, incomplete, and erroneous data. It's a wonder that deals get closed at all. Our leading go-to-market solutions and experiences are powered by our underlying data assets that are indisputably the best in the world. Going to market is not just about exporting company and contact records to a CRM or engagement system. It requires accurate entity resolution, matching locations to headquarters, maintaining hierarchical relationships between entities, IP to company resolution, stitching tech stack profiles to appropriate companies, leveraging metadata to determine and classify company industries appropriately, knowing when a contact is hired or changes employers, assigning attributes based on artificial intelligence, bringing together pieces of evidence from multiple sources to validate and invalidate records or data points. Nearly 24 PhDs and 80 master's degree holders work on models for this data asset every day. Data is messy, and no one understands more about it or has more proprietary knowledge about it than we do. When go-to-market motions break down, more often than not, it's because there are issues with data, and when they succeed, it's because high-quality data empowers sales and marketing teams to do what they do best: market and sell. With that conviction as the backdrop, over the last two years, through consistent software innovation, new product launches, product improvements, and integrated acquisitions, ZoomInfo has evolved from a leading data provider into a revenue technology leader with a fully integrated platform that revolutionizes how sales, marketing, operations, and recruiting teams execute in a digital era. We are delivering a new ZoomInfo, a ZoomInfo that is driven by a revenue operating system that delivers the core intelligence every seller, marketer, and recruiter needs to be successful and layers that intelligence into chat, conversation intelligence, lead routing, enrichment, display and social advertising, sales automation, automated go-to-market workflows, and insight-driven campaigns. This new iteration of ZoomInfo that delivers indispensable data and the software to put that data in motion is the key to our future, and we're seeing real traction behind it too, with over 75% of our revenue coming from customers leveraging advanced functionality. Our RevOS platform has to be more than just a portfolio of point solutions. Today's revenue teams need a seamlessly connected go-to-market platform. Most sales and marketing tech have an empty box problem. These solutions are built from the top down, resulting in an application in search of quality data. We take the opposite approach. Everything we build and acquire is integrated from the bottom up with the world's best data layer at the foundation. This vision has reframed the way our product and engineering teams think about the interconnected nature of what we are building to ensure that the platform is fully extensible and delivers better customer experiences and more insights than any standalone product could do. We build our products in a modular and shareable architecture that enables quick integration of new applications across operating systems. Here are a few examples of that holistic approach. Workflows, which originated as a highly successful feature in SalesOS, was built as a shareable component, a microservice that also powers automated data-driven workflows for marketers in MarketingOS. This same component will enhance Engage, Chorus, and OperationsOS and will integrate data and experiences across the entire platform. Our Chat functionality is now fully embedded inside of SalesOS and MarketingOS. RingLead, our data orchestration software that ingests first- and third-party data to create a unified view of any customer or prospect, surfaces that view throughout each operating system within the RevOS platform. In Engage, our sales dialer, email delivery functionality, and sales flow additions are all now shareable inside of SalesOS as well as TalentOS. Within SalesOS, sellers are able to flag accounts for air cover, which is communicated across the MarketingOS, where their marketing counterparts can trigger automated display, social, or marketing automation campaigns. With unified login, our users now log in once and provision everywhere, and our admin portal gives administrators control over permissions and provisioning from one place across all platforms. These shared components and the reusability of our software is a critical factor in our platform strategy. That platform strategy is articulated through RevOS, the modern revenue operating system for go-to-market professionals. RevOS consists of the four personas we target: Sales OS, Marketing OS, Operations OS, and Talent OS. In addition to three engagement layer solutions, Chorus, Engage, and Chat. When you use your phone, Mac, or PC, the operating system enables you to discover and run your programs. ZoomInfo's revenue operating system is the foundational platform that our customers use to run their go-to-market programs, including ad campaigns, prospecting, website chat experiences, onboarding and coaching, enablement programs, and much, much more. Let's take a closer look at each pillar under RevOS. Sales OS is our flagship operating system for B2B sales professionals. We have the most accurate and frequently refreshed database of insights, intelligence, and in-market purchasing intent data about companies and contacts. We layer additional applications on top of that, like conversation intelligence, sales engagement, chat, and data orchestration to drive data-driven engagement with prospects and customers. In February, we introduced MarketingOS, our new account-based marketing platform designed to give marketers new ways to reach target accounts and drive qualified leads for sales teams. We accomplished this first by building the platform on top of the ZoomInfo data cloud, enabling marketers to identify and target their highest value audiences, both anonymous and known. Marketers can then upload creative assets, sequence relevant messaging across display and social ads, and intelligently engage anonymous and known prospects, both in their inboxes and beyond. By leveraging our FormComplete and Chat solutions, both built as part of SalesOS, but now natively configurable and deployable inside of MarketingOS, marketers increase conversion rates by instantly populating lead forms with accurate professional data and by engaging visitors with the right account executives and account managers through real-time chat. Finally, our analytics dashboards and built-in reporting allow for optimization of ad creative and nurture stream design through platform-supported A/B testing. MarketingOS also provides marketers with visibility into their total addressable market, the ability to build, cleanse, combine, and manage first and third-party data, identify and prioritize best fit audiences using intent and engagement data from anonymous website visitor identification. Because of the interoperability of our operating systems, marketing and sales teams work from the same data foundation and the same platform, which tightens key handoffs and unlocks cross-departmental alignment. OperationsOS is our data as a service offering for enterprise data and operations teams. It includes data access, delivery, and enrichment of data through APIs, webhooks, and cloud data warehouse connectors. It includes our suite of enterprise-grade data orchestration products from RingLead, including Cleanse, Enrich, Score, and Route. Enterprise IT, analytics, data governance, data science, and revenue operations teams all use our Operations OS products and services. Operations OS has become a major lever to our enterprise go-to-market strategy. After integrating the data and systems from the EverString acquisition, ZoomInfo now offers a modern-day alternative to the antiquated company data providers currently in market. With these state-of-the-art data sets delivered when and how customers need them, our enterprise clients trust ZoomInfo as a source of truth for company intelligence. Acting as an additional catalyst for go-to-market effectiveness for the enterprise, RingLead's data orchestration solutions have streamlined the consumption of ZoomInfo data. We help organizations merge first and third-party data, as well as manage multiple third-party data sources. As a result, our enterprise clients are turning data to value faster than ever before. We launched our recruiting platform, Talent OS, in late Q1 of 2021. We've built a new sales team around TalentOS, and we continue to enhance the platform, building features that increase a recruiter's efficiency by using AI to automatically suggest and expand the set of potential candidates, streamline outreach through automated engagement, and manage the workflow of tracking candidates through different stages of their pipeline. Built on the common ZoomInfo data cloud, TalentOS is tailored to help recruiters find and engage with pockets of diverse and unique talent, even more critical in this hiring environment. Companies have never faced such a challenging environment for hiring and retaining talent. Roles that previously could have been filled through traditional job boards now require sophisticated direct sourcing. Candidates demand to work for companies with great cultures and expect an understanding of employee benefits and experiences before even applying to a job. Employers that have negative reputations online, deservedly so or not, massively lose out on hiring top talent. In April, we acquired Comparably to empower every company to effectively identify, source, influence, and hire for their most vital roles. Comparably adds a suite of popular SaaS solutions for employer branding and recruitment marketing, combined with an employee review platform that reaches millions of candidates each month. With Comparably, TalentOS gives companies the ability to engage and hire candidates with much more sophistication and influence. TalentOS plus Comparably is a must-have combination for any company recruiting in today's digital remote-first work environment. We're seeing tremendous success with our recent acquisitions. EverString and RingLead now anchor our OperationsOS offering. Chorus revenue nearly tripled in 2021 while attach rates continue to increase. Insent.ai has become a core component of MarketingOS and is still gaining traction. Clickagy, which supplies our intent data and serves as our B2B DSP, is now a foundational layer of both SalesOS and MarketingOS. In 2021, we published a go-to-market sales strategy book called 100 Pipeline Plays: The Modern Sales Playbook. At the time, ZoomInfo customers could run automation in SalesOS on about a dozen plays. By the end of 2022, we aim to enable all 100 automated plays in both SalesOS and MarketingOS. We believe that our investment in our workflow suite provides the first place where go-to-market professionals are able to combine a robust set of third-party data, signals, and insights with their own first-party data to launch automated go-to-market motions from display advertising to sales notifications. Now, how does this impact our customers? FedEx has more than 4,000 ZoomInfo SalesOS licenses and consumes global data through our OperationsOS offering. FedEx can do business with tens of millions of companies, and so the data science team there becomes a critical input in deciding which companies they should be spending marketing and sales resources on. There's a meaningful synergy between the OperationsOS platform that we provide to the FedEx data science team and the actionability of their work and modeling as it flows back to the 4,000 SalesOS users. FedEx's data science teams leverage ZoomInfo's firmographic and technographic data feeds to build unique segmentations and uncover missed opportunities in unknown companies. By leveraging ZoomInfo's data, they've seen a 200% lift in model performance. Once the data science team identifies these high propensity to buy prospects, those get sent to the field, where because of their access to SalesOS, the team surrounds those accounts with deep insights into their current shipping methods, e-commerce software suites, decision-makers, intent, and Scoops data. Each seller is armed with a tremendous amount of insights before their first call. Morgan Stanley is leveraging SalesOS, TalentOS, and OperationsOS. They have hundreds of Sales and TalentOS licenses, and they utilize our data-as-a-service functionality through our OperationsOS offering. Our data and insights help engage new private wealth management clients, and they employ our recruiting functionality to attract the best candidates. Through OperationsOS, they're able to map C-level executives at customer and prospect accounts, better define their total addressable market, and identify whitespace expansion opportunities by engaging fast-growing entrepreneurs, operators at the largest private companies, and executives in the Fortune 1000. They target account identification at scale. Their central market data team leverages ZoomInfo Scoops data to find companies that are in market for Morgan Stanley services and proactively shares them with bankers. These can be companies that have recently received funding, companies going through M&A, companies that are expanding into new geographies or opening new locations, companies that have hired their first CFO, and many other key insights that drive their go-to-market motion. We deliver on behalf of our customers like FedEx and Morgan Stanley and thousands of other customers around the world, and we deliver on behalf of our team. I am proud that we have built an incredible culture at ZoomInfo, a culture of difference makers who share a common mindset of continuous improvement and who strive to get 1% better every day. As you will hear reinforced today, we look for talent everywhere, and we bring people into our organization based on their growth potential. We also invest aggressively behind our people to help them achieve their full potential. In 2021 alone, we invested over 80,000 hours in employee development and training. Over the course of this Analyst Day, you will hear from some of our senior leaders across the organization. Simon McDougall, our Chief Compliance Officer, Chris Hays, our President and Chief Operating Officer, Tim Strickland, our Chief Revenue Officer, and Cameron Hyzer, our Chief Financial Officer. You will hear how customers are using and getting value from the ZoomInfo platform and more about why our culture positions us for long-term success. We also hope you will leave us today with a better understanding of our platform evolution, our differentiated and industry-leading investments in privacy, the efficiency with which we operate, and the durability of our growth and profitability. Following our presentations today, Cameron, Chris, and I will be hosting a Q&A session. Let me turn it over to Simon. Thanks, Henry. Hello. My name is Simon McDougall, and I joined ZoomInfo as chief compliance officer in January this year. I've spent over 20 years working in privacy and data protection and previously had the privilege of serving as deputy commissioner at the Information Commissioner's Office, the United Kingdom's privacy regulator. You've heard us say many times before that we are a privacy-first company. From the earliest days of ZoomInfo to the recent discussion of privacy in a digital world in our inaugural sustainability report, we have consistently recognized privacy as critical to our success, and we have invested behind it. Unlike business-to-consumer organizations who collect information about people's personal lives, profile them, and sometimes seek to influence their behavior, we focus exclusively on business data. We work to support business processes and activities that are often exempt from data protection regimes intended to rightfully protect people's everyday lives. that all said, maintaining trust in how we acquire and use data remains critical to our long-term success, and we strive to go beyond regulatory compliance to be a privacy leader in our industry. Since joining, I've met with customers of all shapes and sizes with operations around the world. Every company cares deeply about privacy today, and the larger and more international the business, the more they invest behind ensuring they have a solution they can trust. These multinational enterprise customers want to kick the tires on our operational privacy and security controls. We start by referring to recognized industry standards, such as in the world of security, where we are SOC 2 certified and ISO 27001 certified, or in privacy, where we are trusted GDPR and CCPA validated and trusted privacy certified. Now, we continue to challenge ourselves in this area, and in the last few weeks, obtained our certification for ISO 27701, the international standard for privacy information management. Now, most customers trust these independent security and privacy credentials, but we are very happy to have our specialists go much deeper. For example, many of our international customers are particularly interested in how we manage our notifications process. They understand that we collect and refine data from lots of different sources, and they know that privacy regimes around the world are strict about providing notice. Quite rightly, customers don't want to be building their go-to-market motion on dodgy data. We often surprise people in how proactive we are here. We want people to know they are on our platform, and we apply this principle globally. We send a notification to every net new business email address we receive. Most of our customers use GDPR as a benchmark for global privacy compliance, and our notices are designed to be GDPR compliant. We tell each individual about what information we process and why, the sources and recipients of the data, how long we hold the data for, and the privacy rights they have. Our notice then provides links to ZoomInfo's privacy center, through which a person can exercise those privacy rights, including requests to opt out, make access requests, and correct inaccurate information. We also provide an email address, privacy@zoominfo.com and a phone number to which privacy requests can be submitted. We are the only company in our market investing in this level of compliance at scale. In 2021, we sent over 60 million privacy notices. As a consultant in this area for many years, I've worked with a wide range of firms, and I'm impressed with how we automatically identify and validate new contacts and send notification emails in real time. Customers also ask about our opt-out process. We understand people may want to opt out of our platform. We respect that wish, and we don't want our customers offering business services to people who don't want to be contacted. Every opt-out request improves the quality of our data. That's why we have heavily automated our opt-out process to make it easy and quick for people to opt out, correct their data, and make other requests. The majority of our 140,000 opt-out requests in 2021 were matched automatically, and we have a full-time team that matches the rest, well within all regulatory deadlines. I'm a broken record here, but our processes are GDPR compliant and aligned with the various data subject rights regimes that exist around the world. I want to stress that we go well beyond simple regulatory compliance. We are respecting these requests anywhere in the world, not just in places that have established privacy law. In fact, over 80% of our requests came from outside the European Union. This transparency makes it simple for our customers to have confidence in what we do. Our customers aren't just interested in our compliance. They understand that they have their own privacy obligations, and they want to know what we can do to support them. Many parts of the world have exemptions or lighter regulatory regimes for processing business contact information, but there's a lot of variation by country. The configurability of our platform is helpful here, but we go further. We provide a comprehensive list of do not call registries that cover our major markets. We share the opt-out requests we receive with our customers, and we offer the compliance API solution to help customers achieve completeness when they receive opt-out requests themselves. There's a more practical point here that really resonates with me as an ex-regulator. Data accuracy is a requirement of the GDPR and across most of the privacy regimes around the world. As a regulator, I saw lots of breaches that started with poor data quality, and I know it's a challenge for every company. Every ZoomInfo customer has more accurate data through using our service, which means better compliance. I have realized from my engagement with our customers that often their questions don't stem from a concern about ZoomInfo itself, but from broader concerns about what can be done with business contact data. We will continue to challenge ourselves to be best in class and to improve the industry. In 2021, we founded the Business Contact Preference Registry, making a global database of opt-out requests processed by ZoomInfo available to other business-to-business data providers. We have now founded the Business Information Coalition, convening our peers and competitors in one industry group to share best practices and develop an industry voice that can better explain how our industry works to the public, press, and policy makers. Of course, improvements to the industry benefit us. Our customers gain confidence and use our services more. Promoting high standards in the industry also benefits our customers, the economy, and society overall. We are proud of our work to be a privacy-first company, and we will continue to invest more behind our market-leading approach. In the next year, we are going to invest more in three critical areas. Enhance the technology and automation around our notice and choice framework. Improve customer education and support, and further develop industry standards and share best practice with others. Customer expectations and privacy regulations will continue to evolve, and we will continue to raise the bar for both us and the rest of our industry. Thank you. With that, let's hear from one of our customers, SAP, to get their perspective. Hi, I'm Dana Marohn, SVP of Strategic Finance and Corporate Development at ZoomInfo. Today, I'm joined by Greg Petraetis. Hi, Greg. Thanks for joining today. Good to be here. Thanks a lot, Dana. Thanks for having me. How has ZoomInfo helped your go-to-market motion as you've expanded your use of ZoomInfo data internationally? If I look at what ZoomInfo is doing for us, it's pretty straightforward. It is keeping our inbound and our outbound demand generation engine up to date. What we're doing is we're using it for contact and account information acquisition and enhancement. Effectively, it's allowing my people to be more productive. We're getting in front of the right people at the right time, and we don't have people out there having to constantly source contact lists. That's really the biggest thing. What we're taking is we're doing data and contact information, we're piping it directly into our demand gen platform and into our CRM. That's creating more efficiency for the force and making sure that we're using people's valuable cycles to do what we want them to do, which is to be customer-facing and out in front of the conversation with those customers. Greg, can you talk to me a little bit about the ZoomInfo products or features that are most important to SAP? Leveraging a direct integration into ZoomInfo for contact acquisition. That makes us faster, and it makes us more on point. The second thing is, we're leveraging Sales OS as a platform to provide a bit more in the way of research on our accounts above and beyond the information that we have in our CRM. So it's prospect intent, it's account scoops, it's organization charts, and just general firmographic information about these accounts, which is really vital in making our account executives productive, making them credible in front of our customers, and making sure that that first call to value is a good one for the prospect and for SAP. You know, some other things that we're doing is we're looking at workflow automation, leveraging signal and audience scoring so that our demand gen agents can be more intentional with their time. And that's the word, it's intentional. that the opportunities that they're passing to the account executives are of a higher quality. Moving to privacy, Greg, can you talk to me about some of the steps you took to get comfortable from this perspective? Yeah. We take data privacy dead serious at SAP. The standards that we're held to around data privacy, data localization, data portability are very, very high as a German-based company. You know, ZoomInfo has gotten us comfortable with the data privacy approach. First and foremost, ZoomInfo's required to provide source data and to be completely transparent about where it is that you got contact information from. Secondly, you're maintaining a history for us and providing support to us if we get any GDPR-related data privacy complaints. That's a source of information that we can go back and use in an actionable fashion if we need to. The other thing that we're doing is we're constantly checking this against the consent database. Prior to making contact, we need to understand whether or not we first have consent. If we don't, the first contact is being made using social media, LinkedIn, for example. Thanks, Greg. We look forward to continuing to expand our relationship with SAP. Thank you for taking the time to speak with me today. My pleasure. Thanks for having me. Hello, I'm Chris Hays, President and Chief Operating Officer here at ZoomInfo. At ZoomInfo, we've always prided ourselves on developing talent and promoting from within. One of the primary entry points into ZoomInfo is our sales development team. New employees are brought in as inbound SDRs, sales development reps, and work their way through a progression of assignments, culminating in their role as a senior outbound SDR. This journey over 8-12 months allows our employees to learn the skills necessary not only to be successful as an SDR, but to prepare themselves for a variety of roles such as SDR management, account executive, account management, all the way to marketing and revenue operations. The knowledge obtained by talking to prospects and customers, learning our process, and believing in our culture, arms these employees with a greater understanding of the everyday problems that we are supporting our customers in solving. ZoomInfo also benefits greatly from the progression as we are able to derive meaningful value, even as they are still learning the business and the returns compound as they grow in their career at ZoomInfo. My favorite part about this program is that when I look around the organization now, I see employees like Jessica Rogers, Zoe Hudgert, Kobe van Rijsselberghe, Cole Hughey, Sean Justice, and Carolyn Murray. These individuals all started as SDRs and are now leading parts of the business from new business acquisition to revenue and growth, to customer success and learning and development. These are just a handful of examples of employees who started as entry-level SDRs and are now shaping the future of ZoomInfo. You will have an opportunity to hear directly from Carolyn Murray next. The success of the SDR career path program has led us to evolve this into something not only reserved for those in selling roles, but across the entire go-to-market organization. In our experience, internally promoted employees not only ramp faster, but have had significantly greater long-term success than their externally hired counterparts. Career mobility is very high at ZoomInfo. Over 50% of our hires for account executive positions are being filled by internal candidates, and we are always looking to internal promotions for other senior positions in our go-to-market organization. Recognizing this trend, we have focused on improving and tailoring specific enablement towards external candidates that allows us to round out skills that they didn't pick up along their internal career progression. This tailored approach has allowed us to significantly close the gap in productivity between internal and external resources. Over time, our programs to develop talent internally have expanded from new business account management, organizations where we've been focusing on promoting our SDRs to AMs managing material books of business. We now have a repeatable process and pattern of reps moving to our higher-end SMB subsegments and graduating to our mid-market and enterprise segments from there. This tailored investment in our talent development programs demonstrates a strong commitment to the success of our organization, our employees, and our customers. A huge benefit of this internal career path progression is that it allows the talent acquisition team to hire SDRs in a cost-effective and high-velocity manner. By leaning heavily on the sufficient motion to bring in and grow talent, the TA team has the opportunity to focus on filling more specialized roles with the best outside talent available. This balance of building and acquiring talent multiplies our ability to adapt as a business and ensures we can efficiently provide high-quality talent needed to support our growth. To build upon these development programs, we invest heavily in training programs created by a cross-functional team of sales enablement and revenue operations experts. We take our team on a journey that brings our sellers from beginner to mastery, regardless of where they start on that spectrum. Our operations team has created world-class processes that can be executed by the entire team and increase output throughout all parts of our GTM process. This focus on enablement and operational excellence results in a higher level of output for reps here at ZoomInfo. We feel that by continuing to up-level the capability and processes of all of our teams, we are better able to serve our customers and industry. We are confident that by constantly focusing on and investing in building talent at every level in the business, we can drive growth in our own business and help our customers accelerate their own growth. We are leaning into this with the acquisition of Dogpatch, where we will offer services to drive successful execution for our clients under the ZoomInfo Labs services offering. In 2022 and beyond, we will continue to expand these programs, adding certifications and courses embedded within these career paths to provide world-class training for our employees, leading to greater career growth and personal development. Our ability to bring in recent college graduates and provide them with the training and tools to become a world-class seller in only a few years gives us a great advantage. As ZoomInfo continues to grow, capitalizing our own sales efficiency has been a primary focus. Our secret weapon to driving efficiency is using our own products internally. The products we offer are a direct reflection of the proven tools and practices we use every day to drive this business. ZoomInfo is the world's greatest tool to bring marketers, sellers, and operations teams together to drive revenue. We are proud that we have over 1,000 sales and marketing employees leveraging our own data, our own tools to manage prospecting workflows, marketing efforts, and customer success. We have further committed to the ZoomInfo and ZoomInfo program, and we have created a dedicated team focusing on driving GTM experimentation and proving out ideas before releasing to our customers. The hands-on experience and learnings from this program are used to improve our products further and ensure we are driving innovation and tackling the most complex business challenges. As an example, we leveraged our internal advertising platform and data prior to the release of MarketingOS as a proof point for the power of ZoomInfo data paired with the advertising use case. Now this capability is available to our customers who leverage the full power of MarketingOS. This internal use and feedback has driven greater adoption and usage within our customers as our team is better able to anticipate the needs of our clients in onboarding and adoption based on our internal usage. In addition to using ZoomInfo internally, we are constantly looking for ways to improve our process and make sure that no opportunity or value is lost in our sales execution. We are always looking for innovative ways to recapture fallout in the funnel and accelerate the buying process. One such example is what we refer to as the Trojan AE program. One problem that comes with high growth is managing the high volume of demos and leads flowing through the funnel. We found that our AEs, while looking for the most valuable deals, would often overlook the value of less traditional fits or harder deal cycles. We needed to find a way to recapture the value and ensure that they were working these in an efficient way. We created a role we call the Trojan AE to address this. Trojan AEs only work bad fits and listen to past sales calls to see where opportunity exists and pursue those deals. Every SDR promoted to an AE is required to sell $100,000 from this motion before being promoted to the demo router. This has many benefits as the SDR is able to listen to a large amount of demos, build a pipeline quickly, and for the business, we are picking up lost value in the pipeline. This also builds some fun internal competition as AEs sell what their more experienced colleagues could not. I can remember when one of our best reps, a consistent President's Club achiever and top seller, had to stand by and watch the same meeting that wasn't worth his time being closed on a six-figure transaction by a newly promoted SDR. This is just one example of how building a culture of collaborative competition and creating an environment where everyone focuses on continuous improvement provides an optimized outcome for ZoomInfo. With that, let's hear from Carolyn. Today, I'm joined by my colleague, Carolyn Murray, Enterprise Account Executive. Carolyn, thanks so much for joining me today. Thanks, Dana. I'm excited to be here. Carolyn, could you tell us about your ZoomInfo story and how you came to the company? Found myself, as it always is, in a bit of a pickle with two job offers, and what really sold me at the time was the experience of interviewing. I went to the other one, and it was very stale. It was very quiet. I remember the environment just not really sitting well with me. The biggest thing was, you know, is this constant, "Well, why do you wanna work for us? Why are you good enough to work for us?" I came to the ZoomInfo interview, and I cannot even explain how different it was. First of all, I was followed up with, I think, 3 or 4 times before the interviews. Then in meeting my boss, we walked the halls. It was loud. It was fun. It was energetic. But really the overarching tone was why you should be at ZoomInfo. He was selling me, and I thought, first of all, wow, here's a really good salesperson. I could really learn from this person. Also, you know, this is a company that wants to invest in people and see them grow, and they see an ambition in me despite the fact that I have nothing on paper. Can you talk a little bit about just our culture? Always looking to grow, and we are here to grow a company, and we all know it. Our team is very tenacious. We're very ambitious. We're very much not okay with being status quo. There seems to be this overall kind of winner attitude that goes on here. Every employee here feels like they're wanted, feels like they have something to contribute. Feels like we're at a company with this unlimited potential and this growth that can't be matched even by some of these unicorns that we talk to on the phone. It's been really, really impressive, and I think it's a testament to how successful this business has been in developing their employees. Thanks again, Carolyn, for your time today. It was great hearing your ZoomInfo story. Absolutely. Thanks, Dana. Hello, my name is Tim Strickland, and as ZoomInfo's Chief Revenue Officer, I'm here to speak with you today about ZoomInfo's enterprise sales opportunity. The opportunity is immense, as indicated by the growth of our $100,000 and $1 million+ customer cohorts. Exiting Q1 of 2022, the ACV growth of our $100,000 customers increased by 75% year-over-year and now accounts for more than 40% of our business. We continue to grow our largest customers with more than 40 customers generating greater than $1 million in ACV. As we look at the back half of 2022, we are excited about the position we are in to drive continued growth in these areas. While several opportunities exist across the enterprise, we are focused on further penetrating our existing customers with advanced functionality across our SalesOS, MarketingOS, OperationsOS, and TalentOS offerings. I've selected a few recent deals to illustrate the potential enterprise expansion opportunity. Coupa has been a customer since 2014 and has steadily grown its relationship with us over time. In Q4 of 2021, and in Q1 of 2022, Coupa accelerated its investment with ZoomInfo, expanding with the SalesOS platform and with Chorus, our conversation intelligence solution, with a license expansion of over 600% across two transactions. Our sales organizations worked with Coupa to identify the conversation intelligence opportunity originally in Q4 2021 when an active evaluation took place. ZoomInfo's combined sales platform strategy was a main driver of winning the relationship, and we were able to successfully showcase our ability to serve a multitude of use cases across business lines, including faster rep ramp time, deal acceleration, deal qualification, and improved meeting conversion rates. During this expansion cycle, we relied on our product-level specialists to help drive the deal to completion, and we leveraged our core sales team with our prior executive relationships in an orchestrated way. The sales process, while still relatively new to ZoomInfo, has proven successful in many scenarios as outlined by our advanced functionality growth rates. To round out the Coupa deal, early success in Coupa's usage of Chorus allowed us to successfully drive a secondary expansion to more users in Q1 of 2022. This is a similar motion to what we see in our next customer example, Adobe, where we were able to successfully balance transactional business and strategic deals on our way to large customer growth. Adobe has been a customer for more than a decade. We recently moved Adobe to a 3-year enterprise license agreement that increased their total contractual relationship with us by 600%, making them our third-largest customer. This expansion doubled their core Sales OS license count to 2,800 users, added hundreds of new users to Chorus, and it also added our data enrichment application to run automated data cleansing efforts globally, unlocking what was once a small marketing relationship and turning it into a strategic one. Adobe has centralized its sales, marketing, and deal intelligence initiatives on ZoomInfo's platform, but this did not happen overnight. At the end of 2020, Adobe's relationship with ZoomInfo was centered largely around the sales use case, with several hundred reps receiving access in a disjointed way to several of our legacy product SKUs. Over the course of 2021, we worked successfully with Adobe to engage several teams in our strategic workshop program, our value consulting practice, and worked with Adobe on a technology consolidation roadmap, which enabled us to displace current vendors with new ZoomInfo technology assets. While these activities were taking place at a senior executive level inside Adobe, ZoomInfo's transactional sales process was running as it always has. ZoomInfo successfully transacted 17 times with Adobe over a 12-month period leading up to the successfully executed ELA. One of the ways we know we can drive towards larger customer relationships is by building and executing on demand across organizations while also navigating up the executive sphere of influence. Adobe is a good example of that process, but equally important, we are building that strategic muscle across the organization to ensure that the successful enterprise motion is both repeatable and scalable. Now, Adobe uses ZoomInfo across a number of different teams, and the ZoomInfo platform has enabled Adobe to align marketing and sales teams, which has delivered results in short order. We're very excited about their strategic partnership, and we are equally excited about the future opportunities we have to partner more closely with Adobe in 2022 and beyond. I appreciate your time today. Now let's take a few moments to hear directly from Bob at Adobe about their perspective of the relationship. Today, I'm here with Bob Yang from Adobe. Hi, Bob. Hi, Dana. Thanks for having me today. Adobe is a sophisticated user of ZoomInfo today. Currently, you use ZoomInfo Sales OS, Marketing OS, and Operations OS across a number of different teams. Can you help me understand how ZoomInfo fits into your overall go-to-market motion? Yeah, absolutely. From a go-to-market perspective, we're incredibly data-driven here at Adobe, and we have an internal operating model we call DDOM, which is all about using data and creating repeatable, systematic processes. ZoomInfo's ability to enrich this with clean data is a super valuable component. As an example, running account-based marketing campaigns, leveraging pristine C-level account data, or adding technographic data into our nurture campaigns. We put propensity data and enriching data to work for our inbound lead enrichment, segmentation, and routing, as well as one-time list creation for our blitz campaigns. In addition, with access to high-quality data supplementing our internal CDP deployment, our marketing and sales teams can drive a more effective funnel, which fills gaps in our database to improve segmentation and conversion. It enriches net new contacts from our paid media campaigns to support our ABM motions, and it helps identify buying groups and personas that increase our opportunity conversions. Bob, you're clearly using the latest technology and processes to fuel your very efficient go-to-market motion. How has ZoomInfo helped Adobe drive the efficiency of your team? Yeah, great question. Our sales reps use data to prioritize outreach, and high quality data improves reliability and efficiency for that outreach. It results in more meaningful engagements because we're most successful when we're connecting with the right people at precisely the right time when they're interested in the solutions we offer. It's great to hear how you're using ZoomInfo across our various use cases. What has been the driving force as you've expanded with sales, marketing, and operations? Sure. As I mentioned, ZoomInfo technology really complements our DDOM processes and our own CDP technology that's being used across our go-to-market stack here at Adobe. We expanded across sales, marketing, and operations within the ZoomInfo platform to align and have a consistent end-to-end technology partner. We've seen increased efficiency and effectiveness as everything works together across our go-to-market. We've seen improved access to reliable quality data for both accounts and individual contacts at scale. We've also been able to improve routing, nurture, and campaign enrollment. We've standardized the success of our sales deployment on a global scale by optimizing and accelerating our sales performance and productivity across all of our business units. You're clearly using ZoomInfo across personas in our RevOS offering today. Where do you see additional opportunities to expand with ZoomInfo in the future? You know, there's a few areas that we're considering putting ZoomInfo to work in the future. One area is around exploring using ZoomInfo data to enhance Adobe's enterprise customer profile by predicting propensity of accounts to buy the entire portfolio, as well as individual specific products. We could also put ZoomInfo data to work in fine-tuning our understanding of the technology white space through competitive install data and deploying that at scale. Thanks for your time today, Bob. It's been great hearing how Adobe's using our comprehensive RevOS platform. It's my pleasure, Dana. I'm Cameron Hyzer, CFO. At ZoomInfo, we've approached building our growth engine differently than many other high-growth software and SaaS businesses, and the results have been fantastic. We are a top grower in the public SaaS company universe based on 2022 consensus estimates. We also accelerated growth from 2020 to 2021, and are excited about the opportunities that still lie ahead of us. This quarter, we'll exceed $1 billion in run rate revenue, and we are only at the beginning of our journey in helping businesses that sell to other businesses be more successful and effective at selling. While growth is our goal, what makes us unique is our focus on efficiency and scalability. I'm sure many of you have invested in high-growth software and SaaS companies that drive growth through brute force. Many high-growth companies spend more than half their revenue on sales and marketing. For many of these companies, the magnitude of spend on sales and marketing in any given year is more than the incremental subscription revenue generated in that year. They drive growth by throwing more money at the problem and hope to eventually create profit based on scale when growth is no longer their goal. We believe there's a better way. Instead of just throwing more money at growth, we view our sales and marketing expense as an investment, and we focus on getting the best return out of every dollar that we invest. We use our own platform to drive efficiency for our sales and marketing teams, and are continually looking to improve ourselves and our motions. We continually measure the investments that we make in aggregate, driving over 10x LTV to CAC, but also at each step of the pipeline along the way, measuring and optimizing conversion rates and performance on a daily basis. We will continue to grow our sales and marketing capacity and invest more aggressively over time in proven motions. By focusing on efficiency, we believe we can scale and compound the returns of those investments to grow sustainably over the long term. At ZoomInfo, the balance between growth and profitability has always been an "and" statement, not an "or" question. If you look at growth and profitability, we are in a league of our own. Using 2022 consensus figures, our revenue growth and unlevered free cash flow margins are both above 40%. In 2021, we delivered 51% organic revenue growth and 46% unlevered free cash flow margins. Given the massive opportunity in front of us and the strong execution over the past year, we are accelerating our target goal for $2 billion in revenue. At last year's Analyst Day, we set a target of $2 billion in revenue by 2025, and now we believe we will exceed $2 billion in run rate revenue by the end of 2024. Why do we have the confidence that we will get there faster? While acquisitions have played a part, the primary driver is continued execution. We have built a culture laser-focused on efficiency and performance. Our growth algorithm combines landing new customers onto the platform and then expanding those customers over time as they sophisticate their go-to-market motions. Given the light penetration into our overall market, where less than 5% of the 700,000-plus businesses that sell to other businesses are already customers, we believe there is a lot of room to continue to drive new customer growth. Most of our new customer sales are greenfield opportunities where we begin customers on a journey to digitize their sales and marketing motions with high-quality data and insights and workflow tools. New customers contributed to more than 35% growth in 2021, and we continue to see opportunities to expand our customer base. Additionally, we are driving strong positive momentum with respect to existing customer sales and improved net expansion by eight points in 2021. We continue to execute on opportunities to expand our footprint within customers in terms of seats and data integrations, which drive the majority of our upsells. We are seeing significant momentum in customers' appetite for additional functionality that we offer. Based on our continued investment in the platform, we believe that there is opportunity to continue to improve the functionality upsell to customers. In terms of sales capacity in Q1, we organically added roughly $100 million in net new annualized revenue in a single quarter, calculated based on days of revenue recognition. In Q2, we will exceed $1 billion in run rate revenue after 15 years of building ZoomInfo. With the sales capacity we have in place today, we expect to comfortably exceed $2 billion in run rate revenue within 10 quarters by the end of 2024, all because of our efficient investment in sustainable growth. We don't plan to stop there. We are continuing to invest in our sales and marketing capacity and are already focused on the path to deliver $5 billion and then $10 billion in revenue annually. The growth algorithm for driving sustainable long-term growth and delivering multiple billion dollars of annual revenue is supported by the breadth of opportunity that we can attack. At the time of IPO, we estimated that our TAM was $24 billion, which we derived by using the ZoomInfo platform to identify specific customers and apply our then current ASP to that universe. Last July, we recalculated our TAM at $70 billion based on new internally developed functionality like Engage and Recruiting and acquired functionality from EverString, Insent and Chorus. Since that last update, we've been busy. We've continued to build out our RevOS platform and added functionality to address specific personas in sales, marketing, revenue operations, and talent management. Through the internal development of our ABM platform in MarketingOS and the acquisitions of RingLead and Comparably to expand our OperationsOS and TalentOS, today, we estimate our potential TAM to be $100 billion. With applicability to every business that sells to other businesses, regardless of size, industry or geography, we are still in the early chapters of growth. Not only will we continue to add new customers as we help improve go-to-market motions across industries and geographies, but now we have a comprehensive platform to drive marketing, sales, revenue operations, and talent management efforts inside each organization. The expansion of our TAM is reflected by the expansion of our platform and customer usage of advanced functionality addressing more than just contacts and companies. Over the past three years, we've transformed from a company that predominantly provided information about contacts and companies to a platform that serves a variety of use cases for sales, marketing, revenue operations, and talent management functions. When we combined DiscoverOrg and ZoomInfo at the beginning of 2019, the vast majority of our combined revenue was derived from clients that use solely company and contact information, with only 5% of our revenue being generated by customers that used intent or other advanced functionalities. Today, customers with advanced functionality now represent 75% of our revenue and are leveraging broad parts of our platform, including intent, workflows, Engage, Chorus, data as a service, et cetera. Additionally, the implied average uplift from using advanced functionality is almost 50% and trending higher. As customers leverage more features in the platform, almost a quarter of our overall revenue can be attributed to our investments in advanced functionality. This is exciting progress as we execute our platform strategy and continue to help our customers grow from using just company and contact data to combining our best-in-class data and insights with more and more advanced use cases. Even more exciting is the fact that customers who utilize advanced functionality exhibit 8-10 points better retention on average, relative to customers that only employ company and contact data from the platform. This growing usage of advanced functionality is also reflected in the growth of our larger customers. As of today, we have over 1,600 customers that generate over $100,000 in annual revenue, almost quadrupling the number over the past 3 years. As Tim mentioned, we now have over 40 customers that spend over $1 million annually on our platform. These customers are spending across various personas, continuing to grow by expanding functionality and reach within their organizations. Returning to our financials, we deliver consistent best-in-class growth. Most recently in Q1, we delivered GAAP revenue of $242 million. This represented 58% year-over-year growth and 11% sequential growth as adjusted for days in the quarter. During the first quarter, we continued to see strong new customer additions and positive momentum with respect to retention and cross-sell activity. We also continued to successfully execute against the large and growing enterprise opportunity. In the quarter, we added over 150 customers with greater than $100,000 in ACV. Our sustainable growth is driven by efficient investments. In the first quarter, adjusted operating income was $96 million, which represented a margin of 39%. We continue to focus on investing in growth based on the construct we laid out last year, whereby we expect to deliver mid-40s margins at 40-ish% growth rates, roughly the growth at the time of our IPO. At elevated growth rates where we operate today, we expect to generate margins in the high 30s or low 40s. As we continue to grow off a larger and larger base, our margins will drift back upwards as the growth rates moderate. We increased our investment in sales and marketing in the quarter as planned, investing to fuel growth and sell the full RevOS platform. We expect to maintain the combination of R&D, cost of service, and G&A expenses in the low thirties on an adjusted basis as a percentage of revenue. This will have the effect of increasing our investments in R&D for long-term growth as we realize operating leverage in other areas. Unlevered free cash flow in Q1 was $126 million, representing a conversion rate of 132% as a percentage of adjusted operating income, as both billings and collections were strong in the quarter. Looking forward, we anticipate unlevered free cash flow conversion rates in the range of 100%-110% as a percentage of adjusted operating income on an annual basis. Our performance in Q1 and historically demonstrates our ability to execute our vision of durable growth and profitability at scale. Moving on to our target financial profile. As with every other part of our business, we focus on maintaining an efficient capital structure. We have low cost debt given our profitability profile and fixed rates through bond issuances and swap contracts initiated during low rate environments, so we are well-positioned to withstand rising interest rates. Our $600 million term loan is priced at LIBOR plus 300, and our 8-year, $650 million senior notes are priced at 3 7/8%, one of the lowest levels achieved by a single B-rated company at the time. In recognition of our improving financial profile, we were upgraded in March by both Moody's and S&P to Ba3 and BB respectively at the corporate level. As of March 31, our net debt to cash EBITDA ratio was 1.8x, and our gross debt and net debt are both low single digits as a percentage of enterprise value. As demonstrated, we have a prudent approach to leverage. We are targeting an upward ratings trajectory and credit profile consistent with investment grade over the next several years, given our expected scale, growth, and profitability profile. We focus on maintaining strong liquidity for strategic acquisitions and organic growth initiatives between cash on the balance sheet and revolver capacity. We'll continue to focus our investments on organic and inorganic growth opportunities, and we aim to maintain dilution for stock compensation below 2% annually. Given our successful M&A track record and our plan to continue to expand our value proposition to customers through internal development and selective acquisitions, I'll briefly discuss our philosophy and approach to M&A. First, we target high value-added offerings that fit cleanly into our RevOS platform, adding value to SalesOS, MarketingOS, TalentOS, and OperationsOS personas and customers. Second, we aim to leverage our leading go-to-market organization to drive significant growth. With an LTV to CAC well over 10 times across our scaled go-to-market team touching tens of thousands of customers and prospects, we have a proven, highly efficient go-to-market engine with a track record of bringing in solutions to market. Third, we look for products that are tightly integrated with our data and insights to create a value proposition to customers that competition cannot match with more software point solutions alone. Finally, from a financial perspective, we look for transactions that will be accretive to our growth and adjusted operating income in the near to medium term. Thank you all for joining us for our Analyst Day on the eve of our second anniversary of the IPO. We have accomplished a lot over the past 2 years, but are even more excited about where we can go from here. With that, we'll get ready to open it up for questions from our research analysts. Finding your next customer is hard. Why? Let's start from the beginning. In order to get a lead, marketers on average need 12 pieces of software to run a single campaign. You know, the kind of campaigns that have targeted ads, automated nurture campaigns, chat flows, email templates for sales. Oh, and robust analytics. All of these tools just to get a lead to fill out a form. Those leads need to be routed across the sales team to the right rep in the right territory ASAP. Messy data and disjointed tools make this difficult and contribute to marketers wasting more than a quarter of their budget. All of this marketing just to get a lead to sales. Next, it takes an average of 8 outreaches for a sales rep to schedule their first meeting. Yep, just that first meeting. During the demo, a sales rep needs to switch back and forth between taking notes, displaying slides, and trying to showcase their product. Once the call ends, reps still have to transfer their notes into their CRM, update their pipeline, send follow-up emails, loop in more decision-makers. The list goes on. In total, salespeople spend two-thirds of their time on non-selling activities, largely made up of collecting and correcting convoluted data. Every workflow, every campaign, every process has to start with data on prospects, data on customers, signals that can be activated into meaningful engagements. All of this process just to make one single sale. Business-to-business spending accounts for over $30 trillion each year. That's nearly two times consumer spending. The fractured, inconsistent, and complex process of selling goods and services is more than an annoyance. It's a massive problem. It prevents marketers from marketing and salespeople from selling, and causes countless revenue opportunities to be lost along the way. An integrated go-to-market is essential for driving effective business growth, but few have tried to develop a connected system for revenue operations. Finding your next customer is hard, but the process doesn't have to be broken. Enter ZoomInfo's RevOS, the world's first fully integrated revenue operating system. We covered a lot in the sessions today and hope that you found it to be a valuable use of your time. At this point, we're gonna transition to a question and answer session with Henry, Cameron, and Chris. For the analysts who are dialed in and asking questions today, we request that before you ask your question, please turn on your video and unmute your line, and please keep to one question so that we can ensure we have time to get to all of the analysts. With that, let's open it up to questions. Before we go into questions, we've had some investors inquire about our operating model, and I would like to clarify that for everyone. We plan to continue to operate the business at adjusted operating income margins between the high 30s% and the high 40s%. Where we fall in that range will be dependent on our investments to drive organic growth, where elevated growth will require incremental investment and yield margins at the lower end of that range. As growth moderates, as we grow off a larger and larger base, we expect to move into the higher end of that range. Given this model, our expectation is that under no circumstances do we expect adjusted operating income margins to go below 37% on an annual basis. With that, we'll open it up to questions. Okay, great. Our first question comes from Mark Murphy with JP Morgan. Mark, please feel free to ask your question at this time. Thank you very much. Great presentation. Last week you had mentioned, only because I asked, you had mentioned that some of your sales reps were seeing deal cycles take a little longer, but they were still closing. You also mentioned that you feel very strongly about the demand environment. I'm curious if you could just shed a little more light. How isolated are those deal situations? Should we be thinking that there's some kind of an offset here, where you have these large enterprise contracts closing, and you actually mentioned they're continuing to close in Q2 in the presentation. Or I'm just trying to understand if we should think of this as having any kind of tangible net effect. Yeah, I think, look, not a lot's changed since last week, Mark, but I think the first thing to think about is our business, which we sell to other businesses, so we're more insulated than your typical B2C company. In addition to that, we provide quick time to value, fast ROI for our clients who are investing in this solution. This is a solution that helps you sell. It makes your sellers more efficient. It makes your go-to-market motion more effective. In times where you're looking to get the most out of the resources that you have, ZoomInfo is a solution that can get you a lot in a quick time and turn into high ROI. Like I mentioned at the conference, we have heard from some isolated sellers that some deals are taking longer to close, but that they're still closing. Essentially, there's another hoop to jump through, but those deals are still coming to close, and we feel really good about the demand environment that we're in, about the solutions that we have to take to market around the platform, and so we still feel really good about our ability to operate. Thank you. I'm sorry, go ahead. Go ahead, Chris. No, as Henry mentioned, I mean, we still see demand is still really strong for the product, for the offering. There are a little bit more back and forth as people are just questioning things. Because we're so close to revenue, so close to value, the business part of the organizations we work with are bringing us through, and those deals are still getting done, and that's across the whole spectrum. As Henry mentioned, it's just we're so close to revenue and the opportunity that we deliver, it's a really good environment for us. Thank you. Okay. Our next question comes from Keith Weiss with Morgan Stanley. Keith, feel free to unmute yourself and ask your question at this time. Excellent. Thank you guys for hosting this. Really impressive the expansion of the solution portfolio in a relatively short period of time. Can you talk to us a little bit about the order of operations, if you will? There's a lot of new solution for customers to take on. Is there a typical cadence with which they sort of take on the new solution? Some interesting sort of data points on the percentage of ACV coming from advanced solutions, and sort of the uplift. Can you give us a sense of if somebody went wall to wall and took on the entire platform, how that. Like what type of uplift you would get from that sort of wall-to-wall implementation, if you will, of the complete OS, as you guys describe it? Okay. It would be any three of us. Do you wanna start, Chris? You can go ahead. Okay. I think, Keith, to start to answer that question, really where we often start is giving our customers a view of their total addressable market. That starts with our company data, our contact data, and the insights that come off around it. Almost immediately, our customers are asking us, "Okay, great, I have all of this data. What do I do with it? How do I activate it? How do I know who to contact and when?" That gives us an ability to move them from lower packages up the package stack. Maybe I wanna have website visitor identification on my website. I wanna know every company that comes to my website, and then I wanna run an automated go-to-market motion behind that. The step to get to the website visitor identification is one step up package, and the step to get to the workflow solution that lets you automate outreach is another step up the packaging. The next thing that you may want to do is say, "Hey, I need a solution to actually go out and line up emails and set up phone calls for my reps to take advantage of that data and advantage of that insight," and then they'll buy Engage. At the front end of the sales cycle where we're landing, you're kinda landing across those three areas. Give me the data that I need, point me to the right companies that are in market for my products and services, either through website visitor identification or intent data, and then give me the tools to automate and reach out to those people in real time as those insights are coming off of the data. From there, the next most obvious addition is Chorus, our conversation intelligence solution. What happens there is, okay, great, now I'm generating all of these leads at the top of the funnel now, I put in a new motion that's generating appointments and opportunities for our sellers, I wanna optimize the conversion rate from that opportunity or that demo to close. The way that you do that primarily is you understand what's happening in your calls. What Chorus does is it transcribes, analyzes, and pulls together the key moments in a call so that a sales manager or a sales rep or a VP of sales can have insight into those key moments that are happening inside of their sales cycle. They can coach better, they can improve their reps better, and they can increase conversion with Chorus. As you go into the enterprise, the place you see a lot of extension happening is our customers come to us and they say, "Look, my CRM is full of messy, outdated, stale data. My marketing automation system is full of messy, outdated data. I'm doing territory management and planning inside of Snowflake or BigQuery, and that data is not up to date or accurate. It's missing a number of additional fields. Can we get enrichment using your APIs? Can we get enrichment inside of Snowflake, or BigQuery, or Salesforce or HubSpot or Marketo? Can we do enrichment of that data with your API tools?" That's kinda where you see the more sophisticated companies start growing after land, and that's where you see them expanding. And then ancillary to that, you might bring in RingLead to help them route and score the leads to orchestrate a motion that's a little bit more sophisticated in the upper end of the mid-market and the enterprise. What would you add there, Chris? Well, what I would add is when we get into the opportunity to talk about the RevOS story, what that does is it allows the client in the interaction for them to tell us where their pain points are, where they need our help, and we can plug it in one place, or we can plug it in all, as Henry mentioned. Then as they become a client, and we start to work with them, all those other opportunities open up for us. As they grow, as pain comes in, we can plug into the RevOS story and actually help them solve it. You know, it's. It really depends on the client and what their needs are, and then we can plug in and move them along. It's a really great story, the RevOS story. To give you a sense of the. Any sense you could give us? So- Sorry. To give you a sense of the numbers, Keith, if that's where you were going, if we were taking- Yeah, exactly. If we were to take a typical client, let's say they were buying 25 to 50 seats, that might be a, you know, $50K type deal, for our advanced platform. If they move up to Elite, that could be a, you know, $15K-$20K uptick, so call it, you know, $65K-$70K on Elite. If they start adding, you know, Engage or Chorus, Engage might be a 15%-20% uptick, Chorus might be a 30%-50% uptick. That client could already be a, you know, a $100K client just on RevOS without adding any additional seats. When we think about, OperationsOS, you know, in many cases our OperationsOS could be an even larger ticket than what the RevOS is, so that could be another six figures on top of that. MarketingOS often starts in that range as well and could be another six-figure deal. As we add TalentOS, that could, you know, probably be another. You know, it's gonna range based on how much hiring that company is doing, but it could be another $15K-$25K or maybe even more. You can imagine a customer that starts out with a $50K ticket in the advanced part of our functionality that's only using company and contact information, that could be a $300,000+ customer over time. Yeah. That's awesome. That is super helpful. Thank you, guys. Thank you, Keith. Our next question comes from Alex Zukin with Wolfe Research. Alex, please feel free to go ahead and ask your question. Hey, thanks. Thanks for taking the time today, guys. Really informative. I guess I'll ask the macro and margin question. If we look at the use cases and the case studies presented today, a lot of tech and software use cases with SAP, Adobe and Coupa. Remind us what the, you know, revenue exposure is to software, given we're going through a cycle where, you know, every recent headline is less VC funding, you know, layoffs, hiring. How much of a headwind, or is that a headwind at all, in your minds to the business, from a revenue perspective? Then, Cam, from a margin perspective, you talked about high 30s%, low 40s% if you're growing at these rates. You know, can you be a little bit more specific, and, you know, kind of what's the fine line or the red line of a margin you won't go below? How does that kinda factor into a more recessionary playbook, if you will? From a software concentration perspective, you know, around 40% of our revenue comes from software companies. Most of that is from larger companies like the SAPs and Adobes of the world. We went back and finally looked at our customer base, and for customers that are venture funded or received venture funding over the last, you know, few years, it's actually less than 10% of our overall revenue coming from those customers. You know, given the fact that most of our growth is actually coming from other industries, whether that's manufacturing or financial services, pharmaceuticals, healthcare, transportation, logistics. Like, you name it, there are many of these other customers that are now coming around to after those early adopters in software, now coming around to digitizing and modernizing their go-to-market motions, that we feel that, you know, there's a ton of opportunity out there in terms of all the businesses that could be, you know, modernizing their go-to-market motions. If we think about the operating construct, yeah, I think that we'll continue to invest into sales and marketing capacity and R&D innovation. I think at the end of the day, we're really focused on efficiency with respect to our sales and marketing teams. You know, in a world where we're growing off a larger and larger base, we expect that the efficiency of our teams will be maintained at certain levels, and therefore, we'll be spending less of our dollars as a percentage of that base on sales and marketing, but still generating, you know, really great growth off of that. In a more challenging operating environment, I think that we'll have that opportunity to continue to invest into R&D and to continue to invest into our sales and marketing teams in order to, you know, really take share in the market and drive growth over the long term. In no circumstance. In no circumstance do we expect margins to go below that 37% level. That is the bright red line that on an annual basis, we'll always have margins at a minimum at the, in the high 30s. You know, certainly we expect that over time, those will move up and potentially all the way into the high 40s. Perfect. Thank you, guys. Our next question comes from Pat Walravens with JMP Securities. Pat, go ahead and unmute yourself and ask your question at this time. You hired a regulator. Right now, he's been there a while, and you've had lots of chances to talk to him. What are the two or three biggest challenges from a privacy perspective for you guys? Yeah. Pat, you were cutting out a bit, but I think the last part of the question is. Is the two or three biggest challenges from a privacy perspective? Yeah, great. So we hired Simon McDougall, you mentioned that in the beginning of your question. A couple of things to touch on with Simon, a couple of the things he's done since he's gotten here. You know, first, we achieved ISO 27701 certification. That's the international standard for privacy management, which is another place where we're innovating from a data privacy perspective in our industry. We rearchitected our privacy center to reduce fulfillment times, and to be able to, in a more automated way, respond to data privacy requests that come in through our automated privacy center. When I think about data privacy, you know, the first thing I think about, and the first place that people's head goes is around the contact information, essentially, that we collect. A couple things to remember there. We collect only business contact information, the information that can be found on a business card or a resume. That information that we collect, that business contact information, makes up a very small amount of the data in our overall platform. The data that we collect includes technographic data, includes hierarchy and locations data, it includes revenue numbers, employee numbers, includes intent data and Scoops data and website visitor data. There's a tremendous amount of data that our customers are consuming outside of the contact information, which is a part of it. Within the regulatory construct, when you think about business contact information, in every single data privacy bill, business contact information used for business purposes has been carved out of that legislation. Across the country, in California, in Colorado, in Connecticut, in Virginia, it has been carved out. In Canada's PIPEDA specifically calls this type of information non-sensitive data. The GDPR includes a legitimate interest to collect this information for direct marketing purposes. Now, we go a step further, and we appreciate that the regulations haven't regulated this data, but we feel like we need to be really good stewards from a data privacy perspective. A few years ago, we instituted a notice and choice program that actually proactively goes out and gives notice to anybody whose contact information we've collected. We've sent out hundreds of millions of these notices to give people access to their profiles in an automated way, give them the ability to review, update those profiles, or remove them from our platform in an automated way. We feel really good about really driving the industry forward with these innovations that we're doing around data privacy. We expect Simon to continue to push our company forward from a data privacy perspective, from an industry leading perspective. We expect to continue to innovate here. Over the last year, we've also had a number of innovations from a data privacy perspective in our industry. We rolled out the Business Contact Preference Registry, where we share opt-outs from the ZoomInfo platform with other industry participants and invite them to share their opt-outs with us as well, so that there can be a consolidated place that our industry removes or updates contact information. We added do not call lists across eight different countries into our platform, and so our customers can now easily filter phone numbers on the do not call list across eight different countries. We continue to look for ways to innovate and provide our customers with a safe place to leverage business contact information to go to market. Business contact, the B2B economy, like we mentioned in the video, is a $30 trillion economy. When you think about why this data is treated differently, think about any company's go-to-market motion. When you think about their CRM systems, their marketing automation systems, their sales automation systems, those are filled with business information that allow them to drive this $30 trillion part of our economy. We feel really good about our stances there. We feel really good about how we're innovating around data privacy. We're really excited that Simon is gonna continue to help us lead the way there. Thank you. Thanks, Pat. Okay. Our next question comes from Brent Bracelin with Piper Sandler. Brent, please feel free to unmute yourself and ask your question at this time. Hey, guys. Hi, Brent. Great to see you virtually here. Look forward to actually hanging out in person at some point in the near future. I wanted to double-click on the enterprise go-to-market approach. A little surprised to hear after a 10-year relationship with Adobe in the last year, you turned that into a top 5 customer for the company, expanding it from, you know, hundreds of seats to thousands of seats here. Something seems to be working here. Maybe go back and rewind. What changed relative to the enterprise go-to-market ELA approach in the last 2 years? Then maybe can you frame the number of ELA opportunities in the pipeline today versus what you were looking at relative to ELAs in the pipeline 1 year ago? I ask because even within the software tech vertical, it seems like you could have a lot more than $40 million-plus customers. Just trying to understand that enterprise opportunity. Thanks. Yeah. I think from the enterprise space, if we rewind it's really the culmination of the platform that we've built out, whether that's us building or it's acquiring along the way. It's also been an investment in talent. So we've been investing in bringing talent in from both inside and outside of ZoomInfo and bringing that together around the RevOS story. When we go out and we talk to a client like Adobe or like Alphabet, and we show them what we're able to do, we're able to take the user or the data or the process that they were running and show them this larger story, and then they wanna be part of that, and they start to lean in. The really interesting thing about companies like Adobe and Alphabet is those are accounts that started small. You know, they might have been $100,000, they might have started at $30,000, and then over the years, through merit and through the platform that we built out, we grew that relationship to a point in time where we're now considered to be a strategic partner, and we're having strategic conversations about solving their problems. When we're able to do that unlocks a tremendous amount of value. The really exciting part about that for us is, you know, Cameron mentioned, we've got over 1,600 clients spending over $100,000 with us, and that's a growing stat. I think you're right. When you look out across that universe, the opportunity to unlock those clients and turn them into multimillion dollars is real, and we're starting to see the culmination of all of those investments come together. Has that material changed relative to the pipeline? Are you seeing a material change in the pipeline yet, or do you think that's still to come, and it's early innings, really trying to identify those big ELA expand opportunities? No. We're driving pipeline. We're being very thoughtful about who we go out and have these conversations with, and the team is generating pipeline, and we're progressing those transactions. It's not just getting started, we're in that pipeline build stage right now. Okay. Thank you. Yep. Our next question comes from Michael Turrin with Wells Fargo Securities. Michael, please feel free to ask your question at this time. Hey, I appreciate that. Nice to see everyone. Cameron, you presented us with a useful growth margin framework. One of the questions we often get is, does the move into software and the engagement layer come at all at the expense of margins, just given the efficiencies of the core data asset? This question's more on the longer-term structural margin perspective. The 37% level you're giving is also very useful. It sounds like you're saying no longer term as well with that mid-40s target. Maybe you can just expand on what it is that you have that can allow you to keep the margin structure at those levels, even as your product mix changes, and assuming you tuck in additional assets, how you kinda keep that framework in place. Thank you. Can I start and then- Sure. The thing that I would start with is even in the core data asset, we're single digits penetrated across our customer base. Everywhere you look across our customer base, there are opportunities for us to be a bigger partner from a data perspective and from a data asset perspective. There's still a lot of runway there. I'll let Cameron talk about the longer-term margin profile. Sure. In terms of the margin profile and as it relates to, you know, the. Data that we've offered historically and now more and more software that comes along with that. You know, I think that there are really two things that are important when you think about that. One is the R&D that we're investing into the product, and we've already, you know, increased that R&D investment as a percentage of revenue. I think in the, you know, low teens, that's a level that, you know, as we continue to scale, even as a software company, that's where a lot of software companies aim to be. When we're mixing software and data in terms of the revenue, that's actually a fairly robust level in terms of investment into R&D, and I think that that'll enable us to continue to grow that functionality and continue to provide value to our customers. The other big piece of that is, sales and marketing. I think we're really focused on providing services to our customers that are easy to understand, easy to see the value of, and easy to implement in a short period of time. That sales cycle is very similar to what we see, what we've historically sold with respect to data, and we're seeing that with respect to Chorus and with respect to Engage, that the efficiency that we're able to affect in terms of sales and marketing is very similar when we're selling, you know, any sort of software that's closely related to our data as opposed to just the data. You know, a good example of that is that we've been able to, after acquiring Chorus, who had a far less sufficient go-to-market infrastructure, we were able to accelerate the the sales that Chorus was making. They were more than doubling year over year when we acquired them, and now we're more than tripling that business year over year. We've been able to do it while bringing the efficiency of the sales and marketing team in line with what we do on our own. I think the efficiency with respect to sales and marketing is much more about how we run the business as opposed to it selling data or software or something else, so long as we're staying close to what we do and really focusing on selling solutions that have a high and obvious ROI for our customers. That's very helpful. Thank you. Okay, our next question comes from Kash Rangan with Goldman Sachs. Kash, please go ahead and unmute yourself and ask your question. Hey, thank you very much. Nice analyst day presentation. Clearly, the value proposition of ZoomInfo is very strong, as you add multiple layers of value on top of the data platform. I'm just curious to get your take on the hiring environment, which has been really robust the last couple of years during the pandemic labor short supply. I think we can all conclude that with inflation and rates, who knows, maybe the labor market might soften a little bit. As you zoom into your business, how do you think ZoomInfo is positioned for a potentially softening labor market, particularly in software, where you do have good concentration, where companies are increasingly talking about having to slow down hiring, et cetera. Maybe your penetration is so low that you don't see that at all, but have you given thought to those variables and how ZoomInfo is positioned in that kind of an environment, which certainly was not the case since you went public the last two years, very different, obviously. Thank you so much. Thanks, Kash. I think the first thing is your point around penetration, which is we are just not wall-to-wall penetrated in just about any of our customers. The next incremental seat that we're gonna sell to an existing customer is not driven by their hiring. It almost never is just, "Hey, we hired 10 people, so let's go get those 10 licenses." For us, you know, we're very lightly penetrated within the accounts that we have. Even stopping hiring in every one of our accounts, we'd still have a long runway of growth within those accounts to get ZoomInfo deployed. The other thing that I would say is, you know, for 2 years, we didn't have much of a platform story. Because we didn't have much of a platform story, we didn't have much of a consolidation story. In a time where the labor market is softening or companies are tightening their belts, we present an incredible consolidation opportunity. Companies are buying, you know, data from a technographics vendor, data from an intent vendor, data from a website visitor vendor. They're buying conversation intelligence, sales automation, data orchestration from a vendor, chat from another vendor. These systems, they're very hard to get to talk to each other. It takes really sophisticated management to get that. The story we're able to tell today that we also haven't been able to tell really for the last two years is, look, we provide you an integrated experience across all of those solutions that you're buying. We put it in one place. The systems talk to each other. It's best in class across all of those categories. If you look at how we rank from a G2 perspective or a Forrester perspective or a Gartner perspective, in each of those categories, we're showing up really, really well. We have this opportunity during a slowdown to really talk to our customers about consolidation that gives them the opportunity to save money, to reduce complexity, and to consolidate with us. That is a new thing that we have, that we haven't had historically, and that's really helpful in a time like this. Henry, I think Thanks, Henry. The other point I'd add to that is that, you know, our whole story has always been about being more effective and efficient with your sales team. You know, being efficient means that we're able to actually help our customers do more with less. You know, whether that's expanding within a customer that we already have or, you know, frankly, bringing on new customers, that ability to help people do more with less is a great selling point in any environment, but particularly in a more challenging one. Okay. Our next question comes from Phil Winslow with Credit Suisse. Phil, please go ahead and unmute yourself and ask your question at this time. Great. Thanks for taking my question. We all really appreciate some of the incremental data you discussed, particularly related to the contribution credential and advanced features. I wanna focus on my question on the Operations OS. Can you talk through the opportunity and really the feedback from customers in terms of your capabilities in data orchestration? Obviously, you mentioned via the RingLead acquisition earlier, you know, data cleansing, enrichment, et cetera. Can you provide some color on the success you're seeing with integrations with the third-party data warehouse vendors you mentioned, such as the recent announced partnerships with Snowflake, Google BigQuery? Are you able to discover any new use cases that you could then package on top of your platform that you're seeing your customers having to DIY with either Operations OS or those marketplace integrations? Territory management. You wanna go? Yeah. I mean, like Cameron mentioned, territory management's a great example of that. When we think about or talk about OperationsOS, when we're able to have that conversation with the client, whether it's mid-market, SMB, or enterprise, we talk about unlocking the data asset, the information asset that they have in their organization, combining it back with the ZoomInfo and bringing it to meaningful use cases like territory management, like a TAM analysis, you know, overall using it for quota building. It's just you start to be able to unlock all of these different conversations that are different than the conversations that we were having two years ago. The RingLead asset at the heart of that OperationsOS layer allows data to move through the enterprise, through the organization, and become meaningful to the users where they live, whether that might be in the marketing automation, Marketo, Eloqua, whether it's a CRM, Salesforce or Dynamics, and allow that to move and be meaningful to the people along the way. Those conversations, you know, unlock a tremendous amount of potential. You know, with the OperationsOS piece, being able to have those conversations is something that's super exciting for us to be able to do now. How's Snowflake piece? Great. Thanks, guys. Oh, yeah. Snowflake piece is amazing. Like, with the integration with Snowflake, if you think about that or with GCP, you know, we were providing clients data back to them, and that might have been in their CRM, or it might have been via a flat file. Now with the Snowflake integration, we're able to actually go in and natively in their Snowflake instance, provide that enrichment real-time, which then unlocks that data for all different use cases within the enterprise. Data modeling is a great example of that. If somebody wants to go back and see a propensity to buy model or a propensity to leave model, bringing our data back in, allowing that to intermingle back with their customer first-party data and build those models that are actionable and bringing that back to where they need to have that data to make it useful. The Snowflake integration, GCP, Amazon, just unlocks that and makes it a lot more seamless, a lot easier for us and for our clients. Great. Thanks, guys. Thank you, Phil. Okay. Our next question is from Raimo Lenschow with Barclays. Raimo, go ahead and unmute yourself and ask your question. Thank you. Can you hear me okay? Yep. Yep. Yep. Yeah. Perfect. Hey, a slightly bigger picture question. As you evolve as a company, you kind of start going to sell higher and higher in the organization. It's more for Chris but also for Henry as well, in terms of what are you seeing in terms of the customer understanding the value that you're providing, how are you getting more strategic? For Chris, in the same vein, like, where are we on that evolution of the sales force? Because when you presented earlier, it showed a really nice progression from kind of starting low and moving higher. As you go towards more enterprise ELAs, et cetera, there's obviously going to be a need for some very senior guys coming in. Where are we in that evolution of the organization towards that? Thank you. Yep. Thank you. It's a great question. When we talk about the RevOS story and we go in. If you think about our general go-to-market, it's been, we'll go in, we'll land in one or two places, and then we'll start to grow on merit. We talked about that a little bit earlier. As we grow on merit and the overall expense and value that we're adding grows, we're able to unlock the conversations at a very strategic level, C-levels. We have an offering now that I can talk to a CMO about the MarketingOS use case. I can talk to a CRO about SalesOS. I can talk to a COO about OperationsOS or a CIO about OperationsOS. I can talk to the chief people officer, the chief human resource officer about TalentOS. When we go in and we have those conversations and we lay out the vision of what we're able to provide, what they'll end up doing then is they'll get excited for lots of different reasons, unlocking the value. Also, as Cameron and Henry mentioned, that consolidation play is real. Like, they've bought point solutions along the way to do much of what we're able to do now. They get excited not only unlocking the value, but also potentially unlocking value and maybe saving some money or eliminating some of these vendors. Then they push us back down maybe a level in the organization where we go have those conversations, develop a plan and come back with an overall point of view and a proposal about how we can start to deploy that. When we wrap it around the value that we've added, the value that we're going to add, and maybe some cost savings around pushing out a different vendor, people get excited about those conversations. It's, you know, it's been a big part of our success. We mentioned some of the clients. We had some of the clients on the call earlier. When you think about the talent, it's a great question. We have been able to take people that were, you know, maybe lower-end sellers or smaller sellers and move them up and have them able to have. A conversation like this in L.A., we talked about the Alphabet deal. That deal was sold with somebody that we brought up through the organization. She pulled that transaction together, was able to bring that consortium together and move that deal forward. That's somebody who's been here and started off as kind of a mid-market seller. In places where we don't have that talent, we go out and we bring talent in. When we talk to people, when I interview people, and we show them what we're able to do as a software sales organization, and we show them the growth story, people wanna come work here. The level of talent that we're able to attract right now in the market is amazing. We are able to grow it, which is great. I love that part of our business. Where we can't grow it, we can go out and bring it in, and they're excited to come here. Thank you. Thank you. Okay, our next question is from DJ Hynes with Canaccord Genuity. DJ, go ahead and unmute yourself and ask your question at this time. Hey, guys. Nice to see everyone, and thanks for all the color today. So Henry, when you did your diligence ahead of building out Chorus or Engage and acquiring Chorus, I'm just curious, what kind of white space did you see in your enterprise customer base? You know, these are pretty competitive markets. My guess is your large customers are probably a little bit more, you know, tech forward. Trying to think about, like how much growth for these add-ons, particularly at the high-end of the market, is gonna come from first time buyers versus, you know, consolidation of competitive point solutions. Yeah. Thanks, DJ. Good to see you too. I think, actually in the enterprise space, that's where you see the most white space. I think where more of Engage or Chorus has landed is more in that mid-market tech space. You know, our customer base, like Cameron mentioned, 60% is not software. So we have all of that as white space. In the enterprise especially, they tend to be. Well, it depends on the enterprise customer, but by and large, they're less sophisticated in their go-to-market motion. So we see a lot of white space in our enterprise clients to land Chorus, to land Engage. The diligence that we did around that really is what gave us the confidence to build Engage, and what gave us the confidence to acquire Chorus. If you look at the universe of companies that use conversation intelligence today, you can kind of think of it as, you know, right around 7,000 companies total. We have over 25,000 companies that use ZoomInfo today. When we made the acquisition of Chorus, the next 10,000 customers of conversation intelligence, if you look at the overlap between Chorus and ZoomInfo, you can be really confident that 8,000 of the next 10,000 customers of conversation intelligence are already ZoomInfo customers. There's this tremendous white space where we already have relationships, where we're accelerating our way into those conversations around conversation intelligence. We feel largely the same with Engage. Lots of white space. I would say lots of white space, especially in the enterprise, where we see a lot of continued opportunity in the future. It's hard to imagine a universe 5, 10 years from now, where every sales team is not deploying sales automation, where every sales team is not using conversation intelligence. Any company that's not in the future is gonna be at a significant disadvantage against their competitors. Those technologies are gonna be table stakes for years and years to come. Yeah. Great to hear. Thank you. Our next question comes from Brad Zelnick with Deutsche Bank. Brad, please feel free to unmute yourself and ask your question at this time. Great. Thanks so much, and thanks for a great presentation today. It was really helpful, guys. Cameron, in your prepared remarks, you talked about new customers accounting for, I think it was 35% of your growth last year. Can you talk about how that's trended over time and how you balance and throttle the go-to-market investment across new logo versus expansion? Are there any goals or thresholds we shouldn't think about as it relates to new logo mix and as an indicator of the health of your business? Sure. That level in the mid-30s of new customer growth has accelerated really modestly over time, but, you know, it's been in that ballpark for at least a few years. I think that that's an area where we're continuing to invest in the go-to-market team. You know, really for us, the investments in the go-to-market team are about bringing people in, ramping them up quickly, continuing to grow that team in a sustainable way. We'll continue to grow that team and, you know, focus on driving sustainable growth over the long term. When we think about the balance between new customers and existing customers, that's really a question of where we think the, you know, opportunity is and where we can continue to drive efficiency. In our mind, there is a balanced approach where we're gonna add capacity both on the new sales side and on the existing customer side. I think as we continue to grow, there might be a little bit of a shift towards, you know, more opportunity on the existing customer side, particularly as we bring on more and more of those large logos and the ability to upsell functionality in addition to reach within the organization, is starting to enable us to really drive better net retention among our customers. You saw that, in the net retention in 2021 compared to 2020. There might be a little bit of a shift over time, but realistically, our goal is to grow sustainably over the long term, and in order to do that, we feel that there are balanced investments that we need to continue to grow that sales and marketing capacity. Excellent. Thank you. Thanks, Brad. Our next question comes from Taylor McGinnis with UBS. Taylor, please feel free to unmute yourself and ask your question at this time. Yeah, hi. Thanks so much for taking my question. Maybe going off of the question that Brad just asked, but Cameron, I guess you mentioned just the significant improvement that we saw in dollar-based net expansion rate last year, and it seems like this, you know, presentation, there was a lot of talking about the strong upsells that you're seeing to date, and a lot of, like, the newer opportunities. Just as we think about that new out-year revenue target, I guess, how should we think about, you know, how dollar-based net expansion could evolve over time, especially as, you know, you move into some of these larger deals as well, and what that could look like, and if there's any, you know, ranges or levels that that you're thinking of? Yeah. Great question. You know, as we think about the dollar-based net retention, we really believe that there's opportunities for us to continue to, you know, grow the upsells that we're providing to customers. That being said, you know, we do have a relatively balanced revenue stream between enterprises and mid-market companies and small businesses. You know, it's roughly a third, a third, a third in terms of mix. There is a bit of a natural ceiling to where we think dollar-based net retention could go given the mix that we have. Because while enterprises, you know, expand really nicely, you know, well above 130% net retention, you know, it's hard to achieve that in the small business world, given that, you know, those businesses are, you know, there's not as much opportunity to expand, and there's not as much sophistication to continue to provide additional functionality. So, you know, given the mix, I think that, you know, I wouldn't expect the net retention number to get all the way to, you know, 130 or 140, obviously. I think over time, there's an opportunity for perhaps that mix to shift. I think within the time frames that we've been talking about, we continue to see a ton of opportunity in the small business segment as well as in the mid-market, because there are just so many businesses out there that are still thinking about modernizing their go-to-market motions and that, you know, we'll continue to see growth across the entirety of the business, not just in enterprise or a different segment. Great. Thank you. Thanks, Taylor. Okay, our next question comes from Parker Lane with Stifel. Parker, please feel free to unmute yourself and ask your question. Yeah. Hi, guys. Thanks for taking the question. Henry, you've significantly grown the data asset quantity and quality over the last year internationally. How would you assess the traction that you're gaining in seat additions with existing multinationals that are starting to gain an awareness of those advancements you've made in the platform? Yeah, great question. I'm gonna have Chris answer most of it. I'll just say, you know, SAP is one where we've seen that expansion from a seed perspective. We're seeing it across all of our multinational customers. We're having those conversations with them. Do you wanna talk about what it's unlocked? Yeah. I mean, to Henry's point, the people that we've had these relationships before who are using us domestically, when we start showing them and having those conversations around the asset internationally, I mean, they get excited about it, and it's unlocked opportunities with enterprise, with mid-market. You know, we've got sellers on the ground there now, so we've been on the new logo acquisition. You know, we're having tremendous success internationally because of the growth of that asset, because of the strength and quality of the data. So it's unlocking doors not only in our existing customers, those multinationals, it's also unlocking doors just natively within the internationally based companies. Got it. Appreciate the color. Thanks, guys. Thank you. Thanks, Parker. That was our last question. I wanna take a minute to thank both Adobe and SAP, our customers for spending time with us today and giving everybody a little bit of a look into how they're leveraging ZoomInfo to go to market. I hope that when you leave here today, you walk away with a better understanding of our vision, a better understanding of our platform, our approach, how we're leading the way from a privacy perspective, our differentiated culture, and our unique financial model. We'd love to hear your feedback, so if you have any, we'd appreciate it if you could email ir@zoominfo.com, and we really appreciate you joining us today. Thanks a lot. Thank you.