Good day, and thank you for standing by. Welcome to the ZoomInfo First Quarter 2022 financial results conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star one on your telephone. If you require any further assistance, please press star then zero. I would now like to turn the conference over to today's speaker, Mr. Jerry Sisitsky. Please go ahead. Great. Thanks so much. Welcome to ZoomInfo's financial results conference call, highlighting our results for the first quarter of 2022. With me on the call today are Henry Schuck, founder and CEO of ZoomInfo, and Cameron Hyzer, our Chief Financial Officer. After their remarks, we'll open the call to Q&A. During this call, any forward-looking statements are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals, including business outlook, expectations for future financial performance, and similar items, including without limitation, expressions using the terminology may, will, expect, anticipate and believe, and expressions which reflect something other than historical facts, are intended to identify forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, including those discussed in the Risk Factors section of our filings with the SEC. Actual results may differ materially from any forward-looking statements. The company undertakes no obligation to revise or update any forward-looking statements in order to reflect events that may arise after this conference call, except as required by law. For more information, please refer to the cautionary statement included in the slides that we have posted to our investor relations website at ir.zoominfo.com. All metrics discussed on this call are non-GAAP, unless otherwise noted. A reconciliation can be found in the financial results press release or in the slides that we have posted to our investor relations website. Lastly, we hope that you can join us for the virtual investor event we are hosting on Thursday, June 2, beginning at 3:00 P.M. Eastern Time. More information is available through our investor relations website, and we look forward to your participation. With that, I'll turn the call over to our CEO, Henry Schuck. Thank you, Jerry, and welcome everyone. The first quarter was a great start to the year. We continue to successfully execute our strategy and drive growth across all of our major initiatives. Our expanding RevOS platform, which is deeply integrated with our world-class data and insights layer, is resonating with customers. We are increasingly seeing customers embrace the integrated platform experience, running more and more of their sales stack on ZoomInfo. In the quarter, we drove a more than 100% increase in customers using the combined SalesOS platform, Engage and Chorus offering, reinforcing the value of an integrated solution. In the first quarter, we delivered GAAP revenue of $242 million, year-over-year growth of 58%, and sequential quarterly growth of 11% when adjusted for the number of days in the quarter. Adjusted operating income margin was 39%, and we generated $126 million in free cash flow. We continue to deliver a leading combination of growth, profitability, and free cash flow generation at scale. We closed the quarter with 1,623 customers with greater than $100,000 in ACV, up more than 65% year-over-year, while the average revenue across these customers continues to grow. We saw incredibly strong growth in new business as the new customer team had their best Q1 ever on an ACV basis and the best quarter ever on a TCV basis. On the international side, we have maintained our investment in data quality and coverage, adding over 14.5 million non-US professional profiles year to date and rolling out Euro currency support in our platform, while quad-quadrupling the headcount in our London office. As a result of our continued focus here, we set a record high for new business ACV added in EMEA, and international year-over-year growth remains strong at 80% on a greater than $100 million revenue run rate business. Our international business is predominantly driven by Western Europe and Canada. We have virtually zero exposure to Eastern Europe. We continue to see solid traction with our enterprise clients. We signed deals with a large number of leading enterprises, landing new firms and expanding more with existing customers. The three customers I'll highlight have all been ZoomInfo customers for at least a decade. As we have continued to build out our RevOS platform and offering, they have also continued to increase their relationships across those offerings with us. We signed an eight-figure deal with Alphabet in the quarter. Our recently released modern user provisioning now allows for anyone at Alphabet to quickly access the tremendous value of the ZoomInfo platform with automated self-provisioning. Since we are publishing ZoomInfo directly on Alphabet's intranet, understanding and getting comfortable with our privacy, security, data collection, and compliance practices was an important part of the sales process. Google's revenue acceleration team is also leveraging ZoomInfo's OperationsOS platform. That team adjusts company data and company insights to help inform the way they go to market. By leveraging our enterprise APIs, data is matched and normalized, pulled into a data warehouse, and consumed directly in their Salesforce instance. A consolidated view of highly accurate data and insights streamlines their ability to provide data to their go-to-market team while delivering success to their sellers, allowing them to sell more effectively. This type of deal structure serves as a roadmap for future enterprise expansion opportunities at other large companies. With Hitachi, we recently expanded our relationship into their marketing department and grew it to a million dollar plus ACV engagement that continues to leverage our SalesOS platform across their sales teams and adds OperationsOS to leverage ZoomInfo to enrich, append, and clean across a historically inaccurate database of leads and prospect data for marketing campaigns. While Hitachi leverages next-generation software across marketing automation, data lakes, and CRM, the value promised by that software has been unrealized as a result of the lack of high-quality data flowing through those systems. We intend to change that. Finally, Shopify signed a multi-year deal expanding ACV by more than 5x, growing to hundreds of users for their SalesOS platform and adding automated data enrichment from OperationsOS. Shopify's expansion enables them to to improve outbound prospecting effectiveness, automatically enrich inbound lead information, and build propensity to buy scores from that auto-enrichment. Customers are increasingly embracing functionality beyond just looking up a lead in the platform. More than 75% of our active users are using more advanced functionality, including intent and website visitor identification analytics, leveraging workflow rules, or configuring saved search or email alerts. Following the close of the quarter, we completed two acquisitions, one to bolster our capabilities and market share on the recently rebranded TalentOS platform, and the other expanding our enterprise opportunity, both areas where we already see tremendous growth and are excited to invest behind. On the TalentOS side, 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 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. Comparably is a must-have combination for any company recruiting in today's competitive work environment. In enterprise go-to-market, we know that the best-performing enterprise companies are leveraging data, insights, and software for their revenue operations, and they are significantly outperforming go-to-market teams early on in their digitization journey. Access to high-quality, relevant data provides significant competitive advantages for all sales and marketing organizations. We've acquired Dogpatch Advisors to launch ZoomInfo Labs, a new go-to-market thought leadership team driving go-to-market data analysis, product enhancements, and strategy for our enterprise customers. Dogpatch is an in-demand go-to-market consultancy with expertise in scaling revenue teams and building modern sales and marketing systems. Dogpatch has a proven track record of significantly increasing revenue for organizations by modernizing their go-to-market operations and workflows. As part of the acquisition, Ben Salzman, Dogpatch's CEO, will join ZoomInfo to lead ZoomInfo Labs. This will immediately expand our capabilities for enterprises and drive enhancements across our suite of products. Over time, we expect ZoomInfo Labs to put the modern go-to-market playbook within reach of every company. We continue to innovate and deliver new and improved functionality across our RevOS platform. In order to better reflect the evolving nature of our solutions for HR, recruitment, and talent management professionals and the breadth of the capabilities we offer, we rebranded RecruitingOS as TalentOS. We are extremely pleased with the early success we've seen with our TalentOS offering. Both ACV and customer count grew more than 50% compared to Q4, and we've doubled the percentage of our customers using TalentOS from just six months ago, adding Workday, The Cheesecake Factory, Sanford Rose Associates, Management Recruiters International, Redfin, and several leading financial institutions onto the TalentOS platform to drive their hiring needs. As our customer base continues to grow, we have continued to make investments in a world-class user experience, adding a guided onboarding journey to the platform and launching a new experience for quickly starting a user's first email automation campaign. For our power users, we released advanced Boolean search capability as well as an entirely new experience that provides AI-powered similar company recommendations to narrow in on companies to recruit candidates from. OperationsOS is powered by our leading data-as-a-service offering and our RingLead data orchestration platform and is a key lever as we expand within enterprise accounts. In Q1, we expanded our support for enterprise-scale data and intelligence needs with new large-scale data products, contact data brick, hierarchy data brick, and bulk search APIs. Customers can now build out a complete set of ZoomInfo intelligence directly in the systems they work in. Data bricks are accessible via Snowflake, Google BigQuery, Amazon S3 or SFTP or bulk APIs, enabling integration to any system or workflow. Finally, we announced a partnership with Google Cloud to power businesses with ZoomInfo's data and intelligence in the systems where they work. Through our integration with Google BigQuery, joint customers can eliminate cumbersome B2B data ingestion processes and get more mileage out of the data in Google Cloud by seamlessly accessing ZoomInfo data and intelligence directly in BigQuery. In February, after months of planning and building, we launched MarketingOS, our new account-based marketing platform built on top of our shared data cloud and designed to give marketers new ways to reach target accounts and drive qualified leads for sales teams. Just as we revolutionized the future of selling, our product teams have been working hard to imagine a new platform for marketers. MarketingOS leverages our robust professional and company data to allow marketers to execute campaigns throughout the display ad network, social media network, and through marketing and sales automation channels. The ZoomInfo data cloud enables marketers to identify and target their highest value audiences, upload creative assets, sequence relevant messaging across display and social ads, and intelligently engage prospects both in their inboxes and beyond. By leveraging our FormComplete and Chat solutions, both originally 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 built-in reporting allows for optimization of ad creative and nurture stream through platform-supported A/B testing. Because of the interoperability of our operating system, marketing and sales teams work from the same data and platform foundation, which tightens key handoffs and unlocks cross-departmental alignment. We acquired Chorus in July of last year, and since then, we have nearly tripled the number of Chorus customers. We are seeing increasingly higher attach rates with both new and existing customers, and are now recording, analyzing, and surfacing insights on close to 500,000 meetings each month with Chorus. Behind the scenes, behind the success on the go-to-market front are the ongoing development efforts driving category leadership in conversation and revenue intelligence. In Q1, we introduced Deal Signals to help sales teams monitor and manage their deal pipeline. Deal Signals surface at-risk deals, allowing a salesperson and their manager to quickly scan what's in the pipeline and easily identify factors that could slow or derail deals. For example, when a deal gets stuck in a certain opportunity stage or prospects are unusually slow to respond to rep outreach. We also rolled out a new Microsoft Dynamics CRM integration and strengthened our HubSpot CRM integration. Both now include bidirectional sync with Chorus, which allows our customers to pull information from their CRM into Chorus' pipeline visibility tool, Momentum. This allows Chorus users to parse through everything from conversation transcripts to how many contacts are engaged to the number of emails flowing between themselves and their prospects. They can use all of that information to drive better forecasting accuracy and next best actions in the sales cycle. We continue to lead the way on privacy and compliance as it relates to all of our offerings. In Chorus, we embedded our patented flow for GDPR compliant meeting recording into Google Calendar. Reps now just need a single click to ensure their scheduled meetings are fully compliant and recorded in Chorus, while organizations continue to have the tools to ensure compliance across all their users and meetings. Finally, in a really busy quarter for Chorus, we released a Chorus mobile application on the iOS and Google Play stores, which now has thousands of downloads and a 100% five-star rating. At our upcoming Analyst Day, you'll hear even more about the persona-driven approach to our RevOS platform, where we will share more about the expanding multi-product adoption and attraction in our emerging product portfolio. Additionally, we will share more about the durability of growth and the efficiency of our model, and have a great lineup of ZoomInfo executives and key customers who will be joining us to share more about their experiences using our platform. Before I wrap up, I wanted to take a moment to acknowledge two of our departing board members, Patrick McCarter and Jason Mironov. As Carlyle's and TA's ownership in ZoomInfo has trended down since the IPO, the number of board seats represented by each firm is reduced. As a result, Patrick and Jason have recently stepped off the board. Jason joined us in 2014 as part of TA Associates' investment in the company, and was the first investor to see promise in both ZoomInfo and in me. Over the last eight years, I came to rely on him for an endless amount of advice and counsel, but mostly for his friendship and loyalty. His presence at board meetings will be missed, but I expect him to continue to be a loud advocate for our success. Patrick joined us in 2018 as part of Carlyle's investment, and has served as an important mentor and an unrelenting advocate for our growth. Patrick embodied what every founder looks for in a sponsor. He is smart, strategic, takes feedback, and has the company's best interest as the focal point of all of his decisions. In closing, we continued our strong momentum from 2021 and had a great start to the year. We're in the earliest stages of activating a large and growing market opportunity, and the team continues to exemplify strong and consistent execution. We are extremely confident in the opportunity ahead. With that, I'll hand it over to our Chief Financial Officer, Cameron Hyzer. Thanks, Henry. Q1 was another terrific quarter in terms of execution and growth. We outperformed all areas of our guidance and executed well across our portfolio of growth initiatives, including enterprise, international, and emerging advanced functionality in the platform. The demand environment remains strong. Companies continue to invest behind improving their go-to-market motions, and the platform strategy is resonating with customers. We are confident that given the tremendous value we provide to customers and our current narrow level of market penetration, that we will be able to drive durable growth regardless of the economic environment. As a result, we are raising our full- year guidance for revenue to $1.06 billion to $1.07 billion, and adjusted operating income to $418 million to $424 million. At the mid-point, this represents revenue growth of 43% and an adjusted operating income margin of 40%. For 2022, we expect to deliver more than $1 per share in unlevered free cash flow. In Q1, we delivered GAAP revenue of $242 million, up 58% year-over-year, which implies 11% sequential growth compared to Q4 2021 as adjusted for days in the quarter. Excluding the impact of products acquired within the last twelve months, organic revenue growth for the quarter was 49%. Adjusted operating income in Q1 was $96 million, a margin of 39%. With respect to our international business, we are driving strong growth and success for customers outside The U.S. We invested in growing our sales team in London and also committed to further expanding in India and Israel. Revenue from international customers is 12% of total revenue and grew over 80% in Q1 relative to last year. Our investment in the enterprise motion and advanced functionality within our platform continue to drive engagement and growth with our platform customers. This is reflected in the addition of more than 150 customers with more than $100,000 in ACV and further penetration of our recently expanded MarketingOS and TalentOS offerings. Turning to the balance sheet and cash flow, we ended the first quarter with $407 million in cash equivalents, and short-term investments. Operating cash flow in Q1 was $105 million, which included approximately $20 million of interest payments. Unlevered free cash flow was $126 million for the quarter, or 131% of adjusted operating income. We continue to expect that on an annual basis, unlevered free cash flow conversion will be in the range of 100%-110% as a percentage of adjusted operating income. Following the end of the quarter, we acquired Comparably and Dogpatch Advisors for approximately $145 million in cash, net of cash acquired. We expect these acquisitions to contribute revenue in the low teens millions of dollars in 2022 and create a modest drag on margins of one to two points for the remaining quarters this year. While these acquisitions are small and will have only a modest impact on our financials in 2022, we expect them to be accretive to growth and operating income in 2023 and forward. With respect to liabilities and future performance obligations, unearned revenue at the end of the quarter was $406 million, and remaining performance obligations, or RPO, were $918 million, of which $715 million are expected to be delivered in the next 12 months. We believe that calculated billings and RPO are imprecise metrics to assess in-period activity and forward momentum. As a result, we focus on days-adjusted sequential revenue growth. We delivered 11% days-adjusted sequential revenue growth in the first quarter. At the end of Q1, we carried $1.25 billion in gross debt. With continued growth, we saw an improvement in leverage in the quarter with a net leverage ratio of 2.4 x trailing 12 months adjusted EBITDA and 1.8 x trailing 12 months cash EBITDA, which is defined as consolidated EBITDA on our credit agreements. We also recently received upgrades from both Moody's and S&P to Ba3 and BB respectively for our corporate ratings. Following the launch of our inaugural ESG report, we also received an upgrade from MSCI, with our ESG rating upgraded to AA. With that, I will provide our outlook for the second quarter and increased outlook for full- year 2022 results. For Q2, we expect GAAP revenue in the range of $253 million-$255 million and adjusted operating income in the range of $98 million-$100 million. Non-GAAP net income is expected to be in the range of $0.17-$0.18 per share. Our Q2 guidance implies year-over-year GAAP revenue growth of 46% at the midpoint and an adjusted operating income margin of 39%. We are providing updated full- year 2022 guidance as follows. We expect GAAP revenue in the range of $1.06 billion-$1.07 billion, up $50 million from our prior guidance, and adjusted operating income in the range of $418 million-$424 million, up from $410 million at the mid-point of our prior guidance. We expect non-GAAP income in the range of $0.75-$0.77 per share based on 411 million diluted weighted average shares outstanding, up from $0.72 at the mid-point previously. For unlevered free cash flow, we expect to generate between $435 million and $445 million, up from $430 million at the midpoint previously. Our full- year guidance implies 43% GAAP revenue growth at the mid-point, up from 36% at the midpoint of our prior guidance. Our full- year guidance also implies an adjusted operating income margin of 40% and an unlevered free cash flow margin of 41%. With that, let me turn it over to the operator to open the call for questions. Certainly. As a reminder, to ask a question, you will need to press star one on your telephone. To withdraw your question, please press the pound key. Please limit yourself to one question. Again, please limit yourself to one question. Our first question comes from Phil Winslow of Credit Suisse. Your line is open. Hey, guys. Thanks for taking my question, and, congrats on another great quarter. I mean, obviously, you saw a strong organic growth again at 49%, but one of the metrics that jumped out at me was the revenue for acquired products over the past 12 months, you know, $13 million versus $10.4 million. You know, obviously underscoring some of the comments, Henry, you made about RingLead and Chorus.ai. I guess two questions to follow up on that. What are customers telling you now that you've had RingLead and Chorus inside of ZoomInfo for a couple of quarters now, sort of why they're choosing, you know, ZoomInfo and how you kind of differentiate yourself versus the point solutions out there? And then, Cameron, one of the questions I get is you continue to expand up the stack into new personas. How do you think about just sort of unit economics and sales efficiency? Thanks. Thanks, Phil. I think first, customers are out there trying to modernize their go-to-market stacks, and so they're out looking for solutions that do lead routing and lead scoring in real time. They're out there looking for B2B chat for their website. They're out there looking for conversation intelligence to improve the insights that they have on their sales teams, to hear the voice of the customer. They're already customers of ZoomInfo. When we have the conversation with them, what we're able to tell them is, "Look, you're out there thinking about cobbling together a number of these point solutions that don't talk together, that don't work off of a common data foundation, that have no synergies in between these solutions." When you think about the solutions that we provide, they all get better when you embed our data foundation into them. Chat gets better because it can route to the right account manager and account executive, so that it can surround that account executive with insights on the account that's coming into chat. Conversation intelligence gets better because we can identify when key buyers are missing in the sales cycle and offer them up for a go-to-market motion. Lead routing gets better because we can do better assignment and enrichment of leads and accounts as they come in. It's really easy to see a future where the data foundation creates the strategic differentiator across all of these different solutions in the platform, and customers are seeing that. More and more of them and customers of all sizes are seeing that, and more and more of them are working to digitize their go-to-market motions, and we're having these really robust conversations with them about taking a platform approach to that. With respect to sales efficiency, you know, naturally, as you're selling more complex solutions, the sales cycles at times can be a little longer. What we found is that by integrating the conversations with a solution that our customers are already taking advantage of and getting real value out of, that we're able to compress those sales cycles versus what you might see otherwise. While sales efficiency might move around a little as we're continuing to invest in different initiatives, whether that's international or enterprise or more complex products, et cetera, you know, we expect to be able to maintain an industry-leading level of sales efficiency going forward and to continue to grow our sales and marketing capacities so that we can grow sales and marketing or our new revenues as well. Great. Thanks, team. Keep up the great work. Our next question comes from Mark Murphy of JP Morgan. Your line is open. Yes, thank you. I'll add my congrats on just a great quarter. Cameron, I was wondering, can you just confirm, Dogpatch Advisors, is that an acquihire of something like one to two people? It looks like it's something kinda small. Comparably, for Henry, I think of Comparably as competing against Glassdoor for kind of the best places to work awards. Is any of their data applicable to generating sales leads, or is that 100% designed to kinda solidify what you're doing with the HR and recruiter and TalentOS product lines? I'll hit Dogpatch first. You know, Dogpatch and Comparably are both reasonably small. Dogpatch is a small company, but it was definitely more than an acquihire where, you know, they have relationships and, you know, a history of really delivering great go-to-market consulting engagements for large clients. You know, it's a handful of people, but I think that they very much box outside of their class in terms of the value they're able to deliver. We think that by bringing that on and being able to deliver those engagements, that we'll be able to, you know, further accelerate the solutions that we're offering as well. On Comparably, look, we are very focused on Comparably adding value to our TalentOS platform. That's where we're focused with that acquisition. Now, Comparably does a lot more than just the employee reviews that you see online. Behind that is a suite of SaaS tools that allows HR and recruiting professionals to easily create content for their careers pages, for their recruiters, that allow them to quickly solicit feedback from their employees through Slack and email and easy-to-use survey solutions that they're able to quickly deploy. What we see in the marketplace today is the most challenging hiring environment in history. What we hear from our recruiting clients and our TalentOS platform clients is that they are struggling to find the right candidates to fill their job role, where historically they could post something on a job board and instantly get candidates. That's not the case anymore. They are out there direct sourcing the candidates they need to be able to reach their goal. We think the combination of the recruitment marketing and employer branding suite that Comparably adds, combined with the sourcing and engagement and digitization tools that we provide inside of TalentOS, makes for a really important solution at a really important time in our hiring history. Thank you. Thanks, Mark. Our next question comes from Raimo Lenschow of Barclays. Your line's open. Thanks for taking my question, and congrats from me as well. Can I talk a little bit more higher level? I mean, obviously this year was the year where you have more focused on Europe, and, you know, you kind of talked about the opening of the offices in London, et cetera. Is there any impact on the pace of push into Europe from events there? Do you see anything? And do you see anything on The U.S. side? In theory, you know, your solution is helping people to get to their clients better, but, like, any impact from macro on Europe and The U.S.? Thank you, and congrats. Yeah. Thanks, Raimo. We really don't see any impact on Europe at this point or in The U.S. You know, our customers are almost entirely selling to other businesses and are, in most cases, looking for ways to do so more effectively and efficiently. You know, I think if anything, in times of stress historically, you see that businesses are looking to either take out efficiencies or invest in things that have a faster time to value than other solutions. I think in all cases, you know, our solution helps our customers be more effective, be more efficient, and it's also something that, you know, whenever they're adding additional functionality or coming on for the first time, it's something that they see immediate time to value, which makes it a great solution when you see times of stress, whether that's Europe or, you know, potentially a broader economic downturn in The U.S. Yep. Thank you. Our next question comes from DJ Hynes of Canaccord. Your line's open. Hey, thank you guys. Great set of numbers. Henry, so you added a very experienced chief compliance officer back in January. I know he has a ton of expertise, particularly in The U.K. Now that Simon's had a quarter, you know, plus under his belt, can you share any observations or recommendations he's made around, you know, ZoomInfo's privacy practices? Yeah. Look, I think the big thing that we've seen with Simon is number one, I think access to a network of privacy professionals that we're looking to recruit and bring in to ZoomInfo, as well as a real understanding of the compliance and regulatory environment, that it's helping us think through how we continue to innovate our privacy posture. I think the other thing we see is the complicated regulatory environment is not just complicated for us, it's complicated for all of our customers. We've been able to leverage Simon's expertise in front of our enterprise customers as they look to navigate the regulatory construct. He has more experience in that than just about anybody else in the world. We're seeing an ability to unlock opportunities internationally because of Simon's expertise in the regulatory environment. Perfect. Thank you. Our next question comes from Siti Panigrahi of Mizuho. Your line's open. Mizuho, yeah. Thank you. Thanks for taking my question. I just want to ask about the customer net add. I know more than 100,000. That's very impressive. How is the cross-sell going within installed base versus getting new customer, you know, large customer getting multiple products? Siti, thanks for joining. You cut out just a little in the middle there, but I think your question was that for those customers that we added that are over $100,000 how much of that is, you know, existing customers that are upselling versus customers that are coming on and buying a number of different parts of the platform? As has been historically the case, you know, we tend to land customers with a kinda smaller offering or sometimes a trial and then expand and grow them over time. That continues to be the case that most of the customers that we add in that $100,000 cohort are customers that, you know, started at a smaller level with us and we've upsold. There does continue to be momentum in customers coming on over 100,000. You know, I think last year we started to see a little bit more momentum, and that's continued in Q1 where, you know, a growing number of customers are coming in at, you know, 200,000 or 500,000 and then, you know, continuing to grow from there as well. Thank you. Our next question comes from Michael Turrin of Wells Fargo. Your line's open. Hey there. Thanks. Good afternoon. Op margins holding in at the high thirties again this here in Q1. Guide suggests margins remain somewhere around those levels for the rest of the year. Cameron, is that a level you're comfortable suggesting you'd expect margins to stabilize around? It sounded like the margin delta versus the prior guide is most entirely attributable to some of the M&A you called out, but that the growth guide still suggests meaningful increase on an organic basis. Is that a fair characterization or anything else you'd add to just help us compare and contrast the full- year outlook with what you last provided? Thank you. Yeah, absolutely. From a margin perspective, you know, certainly we are focused on the construct that we laid out last year in our Analyst Day, where margins, you know, are somewhat inversely correlated to growth. The faster we grow, the more investment we have upfront into bringing customers on and implementing those customers. At the levels of growth where we're at today, you know, growing organically around 50%, I think the margins that we've laid out and certainly within the guidance are what we'd expect to continue to operate at. If we're, you know, if we're able to accelerate that growth, then, you know, it is possible that margins would come down somewhat. You know, certainly as we grow off a larger and larger base and that growth moderates a little, we'd expect the margins to drift up. Thank you. Thanks. Our next question comes from Parker Lane of Stifel. Your line is open. Yeah. Hi. Thanks for taking the question. Henry, wanted to talk about TalentOS a little bit here. Would it be fair to say that the majority of the success you've had there so far has been with customers that have used something like SalesOS in the past? Are you beginning to see an uptick in the number of organizations that are attracted to ZoomInfo specifically for TalentOS or RecruitingOS on a standalone basis? Thanks. I think our focus from a go-to-market perspective, Parker, has been focused on the customer base, where we already have relationships with the customers. We're already through procurement and privacy and security review, where we can accelerate time to the sales cycle within those accounts. That being said, we're also seeing demand from new customers come in as well, and so we feel really good about the way that we're positioned to have those conversations. When you think about the breadth of people who are using the solution, from everything from The Cheesecake Factory to Redfin, there's a broad assortment of companies who get value out of that platform. Now, the user of TalentOS is obviously not the same user as the SalesOS platform. It is a different area in the business, so I wouldn't say that the actual end user was also a user of SalesOS, but the customers, our focus has been on the customer base to date. Very helpful. Thank you. Our next question comes from Kash Rangan of Goldman Sachs. Your line is open. Hey, guys. Congratulations on the quarter. Henry, strategically, when I look at the different pieces of the puzzle you're trying to put together, TalentOS, marketing, sales, operations, et cetera, it looks like the company is getting a piece of other categories' budgets to whoever's in marketing, talent, operations, sales previously. You're doing that in a way that is synergistic with your core data platform. Can you talk about how far you can go and who are the categories that you're gaining share from in each of these domains as you put the pieces of the puzzle together? If that is successful, how much more upside do you see with your core group of data platform customers? How much can that lead to in terms of ACV multiples relative to where you are with the core product if a customer were to completely buy into all layers of your RevOS? Thank you so much and congrats. Great. Thanks, kash. It's an interesting question. When we first founded ZoomInfo, we often got the question on the core sort of data and SalesOS platform, you know, where are you taking market? Who are you taking market from? In reality, we were creating a new market, where this wasn't a solution that was embedded inside of a sales team or a marketing team or a demand generation team. We were evangelizing that a digital way to go to market had to start with data and insights that came from that data. We continue to see a tremendous greenfield opportunity in the SalesOS platform. You know, if you think about conversation intelligence, you can take a look at that space. You know, we nearly tripled the number of customers in that space. We're not displacing somebody. We're making the go-to-market motion more efficient, and people are willing to make an investment, essentially a small investment, to get a high return on that investment by optimizing the way that they go to market. You see that same thing in TalentOS. Recruiters, when you go inside of a corporation, the recruiting department tends to reach out to candidates in the same way today as they did a decade ago or a decade before that. It's incredibly bespoke. They use job boards. They're not direct resourcing. They're not engaging with candidates in digital ways. They're not using SMS and email and calling and website chat to bring customers in or candidates in and give them a personalized experience. When we go into a recruiting department, we're not displacing another budget. We're making that motion significantly more efficient. You can spend $45,000 on an outplacement recruiter to find executive talent for you or a senior director or manager talent for you. You can spend a fraction of that with ZoomInfo to get your team up and online and running after that opportunity. You're making that motion more efficient. Our customers are much more willing to invest in these solutions to make their ultimate motion more efficient without having to displace something that exists today. I think when we think about the ACV or, you know, the potential for growth within our customers, you know, certainly it's early days with the MarketingOS and even with the OperationsOS at this point. We have customers where the value proposition that we're able to provide in marketing and operations, in some cases, can be greater than even what they're deriving from the SalesOS. We have customers that are actually spending more on those particular parts of the platform than they are just on sales. I think when we look at the opportunity to, you know, expand within our customers that, you know, we could expand, you know, by multiples of what we're currently earning for just the SalesOS, where that's the only thing that's deployed. Retention would improve too, arguably, right? That's the good news. Retention definitely improves as our customers are using more advanced functionality. We already see that there's a significant level of retention improvement for those customers as well. Thanks. Thanks, gentlemen. Thanks. Our next question comes from Keith Weiss of Morgan Stanley. Your line's open. Hi, this is Elizabeth Porter on for Keith Weiss. Thank you so much. I was hoping to get an update on the government opportunity. What has been the uptake of being able to purchase ZoomInfo through the GSA schedule? How should we think about monetizing that opportunity? Thanks. Yeah. I think the way to think about it today is that we're in really early days of that opportunity. We're seeing good momentum as we've come out with an offering for the government and through the GSA schedule. It's really early days in that opportunity. Lots of promise, and we've staffed a team to go after that opportunity, but it's still really early days. Got it. Thank you. Our next question comes from Alex Zukin of Wolfe Research. Your line's open. Hey, guys. Thanks for taking the question. Congrats on a great quarter. I guess maybe just at a high level, you talked about the demand environment not really seeing much of an impact from, you know, all the macro factors. If I isolate that to the large deal environment, Henry called out that deal with Alphabet that was eight figures. How should we think about the pipeline for those types of engagements? Not necessarily eight-figure, but just large deals. How you think about that pipeline this year given the demand? You know, maybe for Cameron, for the last, I wanna say four quarters, I think, I know they're imperfect metrics, but I believe that calculated billings has run ahead of, you know, current RPO and current RPO bookings. That flipped this quarter where current RPO bookings are growing faster than the billings on the P&L. Any sense for why that would be or anything to call out there would be helpful. If we start on the pipeline, I'll just jump in real quick. Realistically, the macro factors, if you isolate it into two kind of areas, one being, you know, obviously the conflicts in Eastern Europe, and the second being, you know, fears of, you know, potential recession. We don't see any impact on our large deals. You know, realistically, we don't do much business in Eastern Europe historically, and that's not kind of one of the primary areas where we're focusing right now, so large deals are, you know, unimpacted by that. Certainly in terms of any potential recession, you know, thoughts, you know, I think for larger deals, those are customers that are leaning in even harder to being more efficient and more effective. You know, I think that those sorts of customers are more likely to focus on where they can get quick time to value, and that's something that, you know, I can imagine, you know, even accelerating sales cycles around that as opposed to decelerating because our system is so focused on that quick time to value and generating efficiency and effectiveness for go-to-market motions. On the billings and bookings discussion, I think it's worth pointing out that if you look at the ratio of billings to bookings, you know, Q1 of last year, so Q1 of 2021, was actually by far the highest ratio of bookings to billings, or the ratio of billings to bookings, sorry. You know, that largely related to when we came out of COVID. There was like a deferral of some of our bookings, and certainly more of our bookings were done quarterly in like Q2 and Q3 of 2020 than they had been historically. So that's just another one of those levels of noise where, you know, bookings and billings can be imperfect metrics when you're looking at growth. Certainly the compare in Q1 of 2021, I think distorts the kinda growth figures that you'd otherwise be looking at. Perfect. Thank you, guys. Yeah. Thanks, Alex. Our next question comes from Rishi Jaluria of RBC. Your line is open. Wonderful. Thanks so much for taking my questions, and nice to see continued strength in the business. Just a simple one in terms of geography. So you're expanding your presence in Europe. You opened up your first office in India. Wanna get a sense for how you think about the opportunity, especially in emerging markets? 'Cause it seems pretty obvious in you know the G7 as a natural adjacency, but opening up in India seems like a completely different beast. Maybe can you walk us through how you're thinking about that international opportunity and specifically in emerging markets? Thanks. Yeah. I think as it relates to India, the bulk of the talent we have there is around customer success, support, product management, and engineering. The India opportunity we see as one that can help us more manage time zones across the world with customer success and support, and product, which the product engineering teams interface with our Israel R&D operation than it is from a go-to-market perspective. Today, from a go-to-market perspective, we think the London office as well as in the future potentially Australia, New Zealand time zone and geography makes sense for us. Great. Thank you. Thank you. Our next question comes from Koji Ikeda of Bank of America. Your line is open. Oh, hey, Henry. Hey, Cameron. Thanks for taking my question. I wanted to build upon a prior question about TalentOS, you know, with its potential for being a primary land, and actually kinda shifting it over to MarketingOS here. You know, clearly a new product, I understand that, but it has, you know, some unique features in there. It has account-based marketing. It has an ad tech DSP. I mean, are you also seeing inbound demand, you know, for MarketingOS as a standalone basis? If you are, you know, maybe you could share what are some of the pain points that those customers are looking to try and solve with the ZoomInfo MarketingOS. Yeah. Great. Great question. We are seeing inbound demand for MarketingOS. From an outbound perspective, we are still focused on our existing customer base for that, where we have existing relationships with sales and often marketing. Many of our customers on the SalesOS platform are using it for marketing-related audience building or marketing automation campaigns, form completion, enrichment. We already have a bulk or a big amount of our customers who are from the marketing department. What we've done is go out to them, show them the expanded capabilities of the MarketingOS platform, and we're getting more and more of them to sign up for that. We do believe. When we have these conversations, you know, one of the first things we hear is, "Look, we spend a lot of time building high-value audiences to deploy through marketing automation, to deploy through our sales team and our outbound efforts, and we'd love to have a way to build an audience and deploy through the display ad networks and to deploy through the social media networks." Our solution, because it's built on this, you know, 150 million professional profiles across 150 million company profiles, we're able to let marketers build a B2B audience inside of ZoomInfo and then deploy that audience across the display ad network, across the social media network. So now you're getting business and buyer persona targeting within the display ad networks. We think that's new. We think that's differentiated. We know that the reason why we're able to provide that in a significantly differentiated way is because of the data asset that we're leveraging against. Now every marketer can easily build an audience, say, VPs of IT at healthcare companies within California, Nevada, and Oregon, and start putting ads against that specific persona across the display ad networks, across the social media network. That's incredibly powerful. It's turnkey, and marketers haven't had the ability to do that because no one's built a platform like this on top of the data foundation that we have. Got it. Thanks, Henry. Thanks so much. Our next question comes from Taylor McGinnis of UBS. Your line is open. Yeah. Hi. Thanks for taking my question. A question on the margin outlook. It seems like a good portion of the outperformance is coming from Chorus, Engage, TalentOS, and, you know, some of the newer opportunities. As these pieces become a bigger portion of the mix, Cameron, is there anything to keep in mind from potential impact or differences in, you know, the margin structure of some of these at the early stage? Certainly one of the, you know, theses around the acquisitions that we've done is taking companies that have, you know, less of a focus on sales efficiency and putting them into our model where we're able to, you know, generate incremental sales on a much more efficient basis. So yeah, I think that what we see, if you think about the margin kinda outlook going forward, is that, you know, from some of those earlier acquisitions, they'll continue to become, you know, a little bit more efficient as they're, you know, more deeply integrated into the model. But then we have newer acquisitions where we need to, you know, again, go through that process of realizing some of that synergy and kind of integrating it into the platform where we're able to get those faster sales cycles running as well. You know, I think that the construct that we've laid out before where, you know, at a 40-ish kind of type of growth rate, which is where we were around when we went public, we'd be able to deliver margins in those kind of mid-40s, absent the acquisitions. I think we're very comfortable with that. Obviously, at the levels that we're growing now, stepped up levels, you know, we expect margins to continue in the kind of high 30s, low 40s. As we grow off that larger and larger base, and growth rates start to moderate a little, then we'll see those margins drift back up over time. Great. Thanks. Thank you. Our next question comes from Brent Bracelin of Piper Sandler. Your line's open. Good afternoon. I guess, Henry, Cameron, great to hear companies like Alphabet, Shopify leading into the platform, I guess, at a high level. The vision to move up into apps from just the core data layer seems to be resonating. My question here is, if you just think about this quarter, biggest dollar beat operating, you know, profits that you've seen since the IPO, really strong cash flows. What is the appetite to do more on M&A, particularly given valuations in cloud software are much lower today? Are you seeing more M&A opportunities? Are there bigger M&A opportunities? Clearly, you know, the strategy is resonating. Love to get any thoughts on what the appetite here is given the momentum you have. Thanks. Yeah, thank you for the question. I think, you know, layering on to what Cameron just finished saying, we feel really good about our ability to take various technologies, integrate them with our data, and then take them to market as a proven way to grow. Today, we have a really clear vision for how we want our platform to evolve. We're doing content analysis around that vision, around build, buy or partner to achieve that vision. We understand the ecosystems across our four personas, and if we see something that matches our vision and the criteria that we've laid out around M&A, you'll see us take a close look. Brent, I'd probably layer onto that you know, one of the secrets about being really good at M&A is being disciplined and making sure that it meets the criteria that we've set up historically. We plan to continue that. I think, you know, valuations, I think in the public markets have certainly come down, but sometimes it takes a little while for private valuations to, you know, fully mirror the reality that's kinda come to being. While there are opportunities out there, we're more focused on just meeting our kinda core criteria than we are on where valuations are moving or anything else. Got it. Makes sense. Thanks. Helpful color. Now last question comes from Brian Peterson of Raymond James. Your line is open. Hey, guys, this is Chase on for Brian, and thanks for taking the question. Just one from our side. Can you guys elaborate on the announcement of the ZoomInfo Labs? I understand kind of like the acquisition integration, but just, you know, I'm just thinking about the target customer there and then how you guys see the ramping operations to meet the broader demand in the market. Thanks. I think the launch of ZoomInfo Labs is coming off of the acquisition of Dogpatch Advisors. Dogpatch Advisors is a professional services and consultancy firm that helps enterprises build out their go-to-market efforts using data and insights and software to make those go-to-market efforts incredibly effective and efficient. When we talk with our customers and our prospects, what they're telling us is they want a world where their go-to-market motions are driven by data, where software is interconnected seamlessly, where they have the ability to run innovative sales playbooks, but they don't have a pathway to get there. What we're hopeful to do with ZoomInfo Labs is to provide a mechanism to help our customers see a future that's innovative, that's data-driven, where systems are integrated and talk to each other, where our data cloud sits at the foundation of that, and our application layer drives the interconnectivity of that motion. The Dogpatch Advisors acquisition, which turns into ZoomInfo Labs, here at ZoomInfo, is designed to help our customers not only see that vision but then also achieve it. Perfect. Thanks. I would now like to turn the conference back to Mr. Henry Schuck for closing remarks. Great. Thank you, everyone. We hope that you can join us virtually for the Analyst Day on June second at 3:00 P.M. Eastern. We're excited to share more with you about our platform approach and our leading combination of both growth and profitability. Thank you. This concludes today's conference call. Thank you for participating. You may now disconnect.