Financial Data and Key Metrics Changes - Total revenues for Q4 were $141.4 million, a 14% year-over-year increase, and $540.7 million for fiscal '25, a 13% increase over fiscal '24 [44] - Subscription revenues were $125 million in Q4, a 16% year-over-year increase, and $469.2 million for the full year, a 15% increase year-over-year [44] - Non-GAAP operating income for fiscal '25 was $96.2 million, or 18% of total revenues, compared to $61.8 million, or 13% of total revenues in fiscal '24 [47] - Non-GAAP net income for Q4 was $13.9 million, or $0.12 per diluted share, compared to $23.8 million, or $0.21 per diluted share in Q4 of fiscal '24 [48] Business Line Data and Key Metrics Changes - The Consumer Lending business saw momentum with over 20 new deals in Q4, including two large banks with $80 billion and $50 billion in assets [33] - Professional services revenue was $16.4 million in Q4, a 1% year-over-year increase, and $71.5 million for the full year, a 7% increase year-over-year [44] Market Data and Key Metrics Changes - Non-U.S. total revenues were $33.3 million in Q4, up 34% year-over-year, and $116.2 million for fiscal '25, up 30% year-over-year [45] - The company ended fiscal '25 with 549 customers contributing over $100,000 to subscription revenues, a 10% increase from fiscal '24 [51] Company Strategy and Development Direction - The company aims to evolve into the worldwide leader in AI banking, focusing on leveraging data, analytics, and AI to drive efficiency [6][11] - The strategy includes enhancing the product portfolio with AI-driven solutions and expanding into consumer, small business, and mortgage opportunities [29][34] - The company is focused on executing a disciplined approach to capital allocation and aligning product roadmaps with market needs [30] Management's Comments on Operating Environment and Future Outlook - Management noted that macroeconomic headwinds have eased, and customers are forecasting growth in loan portfolios and deposit positions [39] - The company expects improved gross bookings growth as the year progresses, leading to subscription revenue growth reacceleration in fiscal '27 [23][39] - Management acknowledged challenges in execution and sales momentum but expressed confidence in overcoming these issues [19][40] Other Important Information - The company closed the acquisition of Sandbox Banking for $52.5 million, which is expected to enhance integration capabilities and reduce implementation timelines [50] - The company introduced a new pricing framework, with approximately 15% of ACV on platform pricing as of January 31, 2025 [53] Q&A Session Summary Question: Customer willingness to invest in 2025 - Management indicated that customers are turning the corner on previous headwinds and are focusing on improving efficiency, which aligns with the company's value proposition [84] Question: Difference between ACV and revenue growth rates - Management explained that revenue growth is a lagging indicator, while ACV growth is a leading indicator, with various headwinds impacting revenue projections for fiscal '26 [85][86] Question: Go-to-market investments and sales capacity - Management confirmed that they are solidifying their internal team and making intentional moves to reaccelerate growth in sales leadership and marketing functions [95][96]