Accounting Equation – Tomasz Pietak http://www.tomaszpietak.com/ Tue, 07 Sep 2021 19:18:40 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://www.tomaszpietak.com/wp-content/uploads/2021/08/Tomasz-Pietak-icon-150x150.jpg Accounting Equation – Tomasz Pietak http://www.tomaszpietak.com/ 32 32 New analytics tool for four-point and two-point conversions https://www.tomaszpietak.com/new-analytics-tool-for-four-point-and-two-point-conversions/ https://www.tomaszpietak.com/new-analytics-tool-for-four-point-and-two-point-conversions/#respond Tue, 07 Sep 2021 19:08:00 +0000 https://www.tomaszpietak.com/new-analytics-tool-for-four-point-and-two-point-conversions/ It’s week 15 of the 2020 season. Indianapolis and Houston are tied 20-20 with 3:21 left in the fourth quarter. The Colts face fourth and first place on the Texans 36-yard line. In the heart of the playoff hunt, Indy head coach Frank Reich faces a crucial decision. Should he send kicker Rodrigo Blankenship for […]]]>

It’s week 15 of the 2020 season. Indianapolis and Houston are tied 20-20 with 3:21 left in the fourth quarter. The Colts face fourth and first place on the Texans 36-yard line. In the heart of the playoff hunt, Indy head coach Frank Reich faces a crucial decision. Should he send kicker Rodrigo Blankenship for a 54-yard field goal? Or keep the offense on the field and try the first down to keep the drive alive? It should be noted that Blankenship netted a 53-yard field goal earlier in the game.

Conventional wisdom might suggest “taking the points” and throwing the basket. However, by building on lessons learned from historical results in similar situations, the Next Gen Stats Decision Guide can provide a more informed recommendation. Let’s break down the numbers …

To calculate the odds of the Colts getting a first down, we take the live characteristics of the situation as inputs into our fourth downconversion probability model. These characteristics include: yards to go (measured using tracking data, in inches), attack strength, quarterback strength, and defense strength.

According to our tracking data, the Colts needed about 0.25 yards to win a first down, a clear “quarter-and-inch” scenario. The offense also had an advantage against a Houston defense who finished the season 30th in yards allowed. In total, the Colts had an 81 percent chance of winning a first down in this situation. The odds of Blankenship making a field goal from 54 yards? Only 42 percent.

Now let’s move on to the probability of winning. To estimate the value of each decision, we combine each conversion probability with the Indianapolis winning probability for each possible outcome and compare the choices. By taking advantage of our current probability-of-winning model using hypothetical numbers, we can play the “What if?” Game. Below is a breakdown of the estimates needed to effectively analyze the value of each of Frank Reich’s choices.


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Afghanistan and Ida, the two stories that eclipsed all the others this month in Washington https://www.tomaszpietak.com/afghanistan-and-ida-the-two-stories-that-eclipsed-all-the-others-this-month-in-washington/ https://www.tomaszpietak.com/afghanistan-and-ida-the-two-stories-that-eclipsed-all-the-others-this-month-in-washington/#respond Tue, 31 Aug 2021 20:39:03 +0000 https://www.tomaszpietak.com/afghanistan-and-ida-the-two-stories-that-eclipsed-all-the-others-this-month-in-washington/ The month of March comes in like a lion and comes out like a lamb. August 2021 at this rate. This month blew like Cerberus and blew like the Minotaur. Two stories eclipsed all others in Washington in late August. Hurricane Ida struck the Gulf Coast, then moved south. Staying on the post, Ida’s leftovers […]]]>

The month of March comes in like a lion and comes out like a lamb.

August 2021 at this rate.

This month blew like Cerberus and blew like the Minotaur.

Two stories eclipsed all others in Washington in late August. Hurricane Ida struck the Gulf Coast, then moved south. Staying on the post, Ida’s leftovers will end up soaking an already soggy Washington midweek.

Afghanistan is Afghanistan as the United States leaves.

So we’re taking a look at both of these issues and their resonance in the coming weeks on Capitol Hill.

Congress may ask for additional federal spending to cover the aftermath of Hurricane Ida if the damage is as severe as expected.

There is a short term and a long term equation here.

The first question involves an immediate need and whether FEMA’s coffers are filled with enough money to help.

The answer to the first question is yes.

For Ida’s early consequences, FEMA will withdraw money from the Disaster Relief Fund (DRF) or “Durf” in congressional parlance.

IDA: AT LEAST 1 DEAD, OVER A MILLION CUSTOMERS WITHOUT ELECTRICITY IN LOUISIANA

A person walks past debris on the sidewalk after Hurricane Ida hit August 30, 2021 in New Orleans, Louisiana. Ida made landfall as a Category 4 hurricane yesterday in Louisiana and caused flooding and wind damage along the Gulf Coast.
(Brandon Bell / Getty Images)

Fox learns that as of August 26, the DRF had an uncommitted balance of $ 37.3 billion. The uncommitted DRF base is $ 4.2 billion. So there is a grand total of about $ 41 billion in the bank to meet what FEMA needs to meet the immediate need.

This has not always been the case at FEMA. In September 2011, FEMA assets declined as Hurricane Irene threatened the east coast. Because Congress had not given FEMA a tax boost, the agency sought loose federal change. A similar scenario occurred when Hurricane Katrina flattened New Orleans and the Gulf Coast in the summer of 2005. Lawmakers were away for the August Congressional recess when Katrina hit. FEMA funds have shrunk. The House and Senate both interrupted their respites for emergency midnight sessions in early September of the same year to approve additional dollars for FEMA.

But the DRF is in good shape now.

The second question is what may Congress need to do to deal with Ida’s long-term impacts.

Twelve annual spending bills fund the federal government. Congress regularly approves a 13th or 14th “supplementary” bill to deal with natural disasters or war. This could be the case this time around.

Keep in mind that there are three large legislative trains leaving Congress Station in September. Lawmakers must fund the government by September 30. It is likely that this will be a “continuous resolution”, known as “CR”. An RC is where lawmakers renew all old funding for a short period at the same spending levels as the previous year.

Lawmakers could lock in additional disaster funding on VC. In fact, the money to help Ida could help Congress grease the skates to approve an interim spending bill and, simultaneously, raise the debt ceiling. Democrats could denounce Republicans who oppose raising the debt ceiling – and also reject emergency funding to cover the damage caused by Ida if it impacts their states / districts.

It’s also possible that lawmakers are associating some of Ida’s money with the bipartisan infrastructure bill or the $ 3.5 trillion social spending bill. One could see calls for specific spending projects to cover dams, taxes and damaged bridges in the infrastructure package. Or, lawmakers could insert additional social policy provisions to address housing and health, related to the storm, into the $ 3.5 trillion bill.

BIDEN FIRE FOR NOT TAKING QUESTIONS, TALKING ABOUT ‘BUILDING BETTER’ BEFORE THE AFGHANISTAN CRISIS

Taliban fighters wave from the back of a van in Kabul, Afghanistan, Monday, August 30, 2021. Many Afghans are worried about the Taliban regime and are looking for ways out of Afghanistan.  But it is financial desperation that seems to weigh heavily on the city.

Taliban fighters wave from the back of a van in Kabul, Afghanistan, Monday, August 30, 2021. Many Afghans are worried about the Taliban regime and are looking for ways out of Afghanistan. But it is financial desperation that seems to weigh heavily on the city.
(AP Photo / Khwaja Tawfiq Sediqi)

However, lawmakers are more likely to make the first down payment on the storm in the Czech Republic later in September. The region may need additional funds when Congress drafts an omnibus spending bill to avoid a government shutdown in November or December.

Now a move to Afghanistan. More specifically, the policy of the withdrawal of the United States from Afghanistan.

House Minority Leader Kevin McCarthy, R-Calif., Threatens to deploy a rarely effective parliamentary tool to force the House to consider legislation on Afghanistan.

The House of Representatives met on Tuesday for a brief pro forma session. This is where the body usually just comes in and out after a few seconds.

Still, Republicans were keen to speak up and called on Democrats to pass a bill developed by Rep. Mike Gallagher, R-Wis. This would require the Pentagon to provide Congress with an account of the evacuees, those who remained in Afghanistan, and military materiel. The bill includes a provision that could urge the United States not to recognize the Taliban as the government of Afghanistan.

The chances of the House considering the bill were virtually nil. Such efforts during a pro forma session are sometimes essentially minority stunts to draw attention to a given issue. Democrats raised the cane with the GOP when they were in the majority, and Republicans declined to discuss some bills in pro forma sessions a few years ago. The same is true now. The majority control speech.

That said, Republicans are playing a bit longer here.

Republicans will try to pass the Gallagher bill in September, via another parliamentary gamble. The GOP drafts what is called a “discharge petition” for a “rule”. This would mandate the House to consider the Gallagher Bill under a number of terms, for example – the “rule”. A “rule” is essential in this case because it dictates how the House will consider the bill itself – if the Republicans are successful.

Petitions of discharge are a parliamentary device allowing members of Parliament to go above the leaders and introduce a bill. However, requests for discharge are seldom successful. The last one that worked came in 2015 on the renewal of the Export-Import Bank. Before that, we have to go back to the beginning of 2002.

GOP LEGALS ASK HOUSE TO CONSIDER BILL ON AFGHANISTAN REQUIRING EVACUATION PLAN, UPDATES ON AMERICANS

The trick to a discharge petition is that supporters of a given measure need 218 signatures to file it. It’s a tough 218, regardless of the size of the house. The membership of the House currently stands at 432 with three vacant positions. In addition, members must speak up and physically sign the discharge petition. This could be another hurdle to overcome since many members from both sides did not come to Washington and voted from a distance.

Republicans really can’t do anything about it right now. The House is out of session for legislative business until September 20. Fox learns that Republicans will begin signing the discharge petition on September 21. The current split is 220 Democrats for 212 Republicans. So the GOP will need the help of at least six Democrats if it is to meet its target of 218 signatures.

That said, if Republicans get the signatures they need, they are able to bypass the leadership and put Bill Gallagher on the ground. Fox is informed that the GOPers aim to sign on Tuesday, September 21. If and when Republicans collect enough signatures, they will have to wait two days until the discharge petition is ready on the floor. This would mean that the House could consider this bill no earlier than Thursday, September 23.

But, they have to get the signatures first.

Be careful, there is politics in this. Republicans will use the reluctance of some vulnerable Democrats who refuse to sign as a weapon against them in 2022.

Moreover, even though the Republicans passed the Afghanistan bill in the House, no one knows its fate in the Senate. Democrats control the process there. And it is likely that such a bill would face obstruction. Sixty votes are needed to overcome a senatorial obstruction.

August has been a difficult month in Congress.

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Ida and Afghanistan are far from over. Work on infrastructure, social spending, preventing a government shutdown and the debt ceiling is looming.

Cerberus and the Minotaur were two of the most feared beasts in Greek mythology. But they were nothing compared to Typhon, the “father of all monsters”. Typhoon was so fearsome that it often materialized with an accompanying thunderstorm.

If August came in as Cerberus and came out as the Minotaur, it is quite possible that September comes in and out as Typhon.


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Zuora, Inc. (ZUO) Q2 2022 Earnings Call Transcript https://www.tomaszpietak.com/zuora-inc-zuo-q2-2022-earnings-call-transcript/ https://www.tomaszpietak.com/zuora-inc-zuo-q2-2022-earnings-call-transcript/#respond Tue, 31 Aug 2021 07:50:31 +0000 https://www.tomaszpietak.com/?p=464 Image source: The Motley Fool. Zuora, Inc. (NYSE:ZUO) Q2 2022 Earnings Call Aug 25, 2021, 5:00 p.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good afternoon, and welcome to Zuora’s second-quarter fiscal 2022 earnings conference call. [Operator instructions] I would like to turn the conference over to your host, Ms. Luana Wolk, […]]]>

Image source: The Motley Fool.

Zuora, Inc. (NYSE:ZUO)
Q2 2022 Earnings Call
Aug 25, 2021, 5:00 p.m. ET

Contents:

  • Prepared Remarks
  • Questions and Answers
  • Call Participants

Prepared Remarks:

Operator

Good afternoon, and welcome to Zuora’s second-quarter fiscal 2022 earnings conference call. [Operator instructions] I would like to turn the conference over to your host, Ms. Luana Wolk, head of investor relations for introductory remarks.

Luana WolkHead of Investor Relations

Thank you. Good afternoon, and welcome to Zuora’s second-quarter fiscal 2022 earnings conference call. Joining me today are Tien Tzuo, Zuora’s founder and chief executive officer; and Todd McElhatton, Zuora’s chief finance officer. We will also have Robbie Traube, our chief revenue officer joining the Q&A session.

The purpose of today’s call is for us to review our second-quarter results and provide our financial outlook for the upcoming third quarter and fiscal 2022. Some of our discussion and responses today will include forward-looking statements, so as a reminder, our actual results could differ materially due to a variety of several factors. You can find information regarding those risk factors in the earnings release we issued today and our most recent filings with the SEC. And finally, we will be referring to several non-GAAP financial measures today and reconciliations to related GAAP measures are included in our earnings release.

For a copy of our earnings release, links to our SEC filings, a replay of today’s call, or to learn more about Zuora, please visit our investor relations website at investor.zuora.com. And with that, I will turn it over to Tien.

Tien TzuoFounder and Chief Executive Officer

Thank you, Luana, and thank you, all, for joining Zuora’s second-quarter fiscal 2022 earnings call. To start, let me say that I’m very pleased with our Q2 results. We once again delivered a strong quarter, exceeding the guidance we provided across our operating metrics, including total revenue, subscription revenue, and non-GAAP loss from operations. The results of this quarter show that the innovations that we have created across our four product lines are delivering more value to our customers.

And as a result, this quarter, we were able to deliver a dollar-based retention rate of 108%, representing a 9 point increase year-over-year and a 5 point uptick from last quarter. Now we set a goal at the start of the year to exceed 105% dollar-based retention rate by the end of our fiscal year, and I am happy to report that we exceeded that goal two quarters early. We believe the strategy we laid out earlier this year at our investor day is working. First, both disruptors and incumbents alike continue to grow their subscription businesses and they are coming to Zuora for our technology, expertise, and ecosystem.

And second, our multi-product strategy with Zuora Billing, Zuora Revenue, and Zuora Collect, all built on the Zuora Central Platform. This strategy continues to enable a lean and expand motion, executed, that what I believe is a truly unique go-to-market organization that emphasizes long-term strategic relationships with the best companies in the world. In short, I am happy with our overall momentum as we continue to execute against the fiscal goal that we announced at the beginning of the year. Let me dive into the highlights from the quarter.

Market trends we identified at the start of the year are continuing to play out. Companies are increasingly waking up to the power of the subscription model, and we’re seeing both fast-growing disruptors and large enterprise incumbents investing in recurring revenue business models. In both cases, these companies are looking for guidance on how to navigate their subscription journey ahead, and they’re turning to Zuora. Let’s take a disruptor.

At our investor day earlier this year, we share the story of Zoom of how we powered their torrid growth over the last 18 months. Well, this quarter, a large enterprise marketing SaaS leader reported over 200% increase in annual recurring revenue from just two years ago, and now they are invoicing more than $1 billion in revenue across 125,000 subscribers all through Zuora Billing. We’ve been working with them since before they went public. And it’s our system that’s enabled them to launch new offerings, evolve to a multi-product company and implement the more complex monetization models that come with that level of sophistication.

On the other side, let’s look at an incumbent who’s pivoting to the subscription economy. This quarter, we signed the 100-year-old robotics company, with over $20 billion in revenue, who is rolling out a subscription-based marketplace to turn their IoT investments into new revenue streams. Now, realizing their existing systems were not built for this new model, they chose Zuora to help them execute the strategy across the 100-plus countries that they operate in. We’re also seeing companies come to Zuora after initially selecting other solutions that simply could not deliver.

This quarter, we brought on a disruptor in the IT security space, who originally signed with a competitive solution from a CRM vendor. Then they found themselves stuck in a never-ending implementation cycle until they switched to Zuora. Now, with our platform, they will be able to manage the entire subscription monetization process, and they have the agility they need to roll out new products and pricing offers, and to easily sign up new customers across multiple acquisition channels. Now, these are just a few examples, but we believe these fast scaling disruptors and enterprise incumbents make up the sweet spot of the subscription economy, and our strategy to focus here is driving the business results that we delivered in Q2.

Now, turning to product, at the start of the year, we announced a multi-product land and expand strategy, designed to give us multiple paths to growth. On the land side, a few years ago, our Zuora Billing solution was our only beachhead. Now fast forward to today, we are now seeing multiple Zuora product beachheads, including, of course, Zuora Revenue. For example, in Q2, there’s a company that makes smart cutting machines, who are seeing tremendous growth over the past year.

And in preparation for their IPO, they turn to Zuora Revenue to automate the complexities of revenue recognition to help them become compliant with the latest accounting rules and to help ensure that they were set up for a digital scale for years to come. And so in Q2, the number of customers with ACV over $100,000 or more continued to grow. And we closed the quarter at 694 within this cohort, up 17 sequentially. This customer group represents 93% of our business.

And simultaneously, during the quarter, ACV per customer reached a new quarterly high. On the expand side, we’re seeing record-breaking upsell numbers. For example, iRobot initially turned to Zuora Billing back in 2020 to iterate quickly and test different subscription models for a new service, iRobot Select. Now as these pilots progressed and the subscriber base expanded, the company then invested in Zuora Collect in an effort to reduce involuntary churn from failed credit card payments.

As another example, recently a leader in application performance management, a public company now longtime Zuora Billing customer, they moved completely to a usage-based model. This added tremendous complexity to their revenue recognition. And so in Q2, they’ve now added Zuora Revenue to create a complete order-to-revenue solution. Now what’s enabling these upsell and cross-sell motions is the tight interlock between our multi-product strategy and our go-to-market approach.

And in Q2, this approach that we highlighted at investor day continued to demonstrate tremendous progress. In addition to lowering churn, expanding sales, and allowing us to hit our full-year dollar-based retention rates two quarters early, our field organization continues to successfully take these customers live. During the quarter, we saw our second highest quarterly ACV go-lives, including with HERE Technologies, Monster Worldwide, and Xerox. And as we said, our go-to-market strategy is also about driving scale in our own operations and accelerating growth by cultivating a network of global system integrators.

And this strategy continued to show traction and deliver results in Q2. First, our SI partners are contributing to our growth. In Q2, over three quarters of our new business logos were influenced by an SI partner. Now, these deals are also coming in with a higher average selling price, as we saw new customers like Daihatsu, Thales, and Rev.com, select Zuora.

Thanks to the successful collaboration with our partners. Second, our SI partners are scaling our ability to take our customers live. This quarter, over 40% of customer go-lives actually involved a system integrator partner. And third, and finally, we’re seeing our partners increase the investment they are making in Zuora.

In Q2 we saw high double-digit growth of the number of certified consultants on a quarter-over-quarter basis, demonstrating that our partners are investing and increasing their commitment to Zuora, which sets us up for future growth. In closing, the strategy that we laid out at the start of the year continues to deliver according to expectations. This is the story of Q2. We’re seeing both fast scaling disruptors and enterprise incumbents turn to us.

Our multi-product and land and expand strategy helped us reach our full-year target for dollar-based retention rates two quarters ahead of plan. Investments we’ve made in our go-to-market are helping us successfully take our customers live and to align with our SI partners in order to accelerate growth and scale our deployment capabilities. And finally, we’re seeing that, in addition to our technology, our unique expertise in the market is why companies continue to turn to us to help guide them on their journey to succeed in the subscription economy. With that, I’ll turn the call over to Todd to review our financial performance.

Todd McElhattonChief Financial Officer

Thank you, Tien, and thanks, everyone, for joining us today. I’ll be providing an overview of our Q2 results and discussing our financial outlook for the third quarter and full year. As a reminder, today’s discussion includes non-GAAP financial measures. Beginning this quarter, we updated our method for calculating certain non-GAAP financial measures related to internal-use software.

You can find the details in today’s press release, which includes a reconciliation table of selected GAAP to non-GAAP measures that reflect the adjustments made to both our current and prior-year financial results. Our performance in Q2 was strong across our key financial metrics. We exceeded expectations in subscription revenue, total revenue, non-GAAP operating loss, and free cash flow. Q2 was highlighted by multi-product deals with both disruptors and incumbents, strong go-to-market execution, and great contribution from our SI partners.

We have built a strong foundation for long-term growth, and Q2 brought incremental progress toward our goals. Looking ahead, we’ll continue to focus on ARR growth, dollar-based retention, and free cash flow. So let me take you through some of the key metrics this quarter. In Q2, our dollar-based retention rate was 108%, a significant improvement from 99% in the prior year, as we left the higher churn levels that we experienced in Q2 of last year, along with our focus on retention and upsell.

Looking at our customers at or over $100,000 in ACV, we ended with 694 customers. This group of customers represents 93% of our business. We close two deals with ACV of $500,000 and above, the same number as a year ago. As Tien noted, during Q2, we reached new quarterly records for ACV per customer.

Turning to transaction volume, our systems processed $18 billion of volume in the quarter, representing 42% growth year over year. While process transaction volume is helpful in understanding how much of our customers’ business is running on our platform, it does not track linearly with quarterly revenue as customer gains efficiencies as they scale. Let me review our Q2 financial results. Subscription revenue grew 23% year over year to $71.5 million and represented 83% of total revenue.

Note, Q2 subscription revenue included some one-time nonrecurring benefits totaling $1.1 million, which were not reflected in our prior Q2 guidance. This was primarily related to revenue we recognized upfront, which was not anticipated in the quarter. Professional services revenue decreased 10% year over year to $15 million. As Tien mentioned, we continue to make progress on our strategy to shift more services to our system integrator partners, and we view this continued decline in service revenue as a positive trend.

Total revenue closed at $86.5 million in Q2 and grew 15% year over year. As previously mentioned, our overall revenue growth was impacted by our strategy to reduce the mix of our direct professional services toward our SI partners. This not only enhances our go-to-market opportunity but also benefits our overall gross margin. As a result of our success in driving more professional services to our SI partners, non-GAAP blended gross margin was 64%, an improvement of approximately 90 basis points over the prior year.

Non-GAAP subscription gross margin was 79%, the same as Q2 in the prior year. During Q2, we made the decision to accelerate the move out of our data center to a cloud-hosted service, which will enable us to operate more efficiently and offer us additional capacity as we scale over the long term. In the short term, we’ll occur additional hosting expenses to make this transition. During the second quarter, we recognized $0.6 million of additional expense and expect to incur $2.8 million expense in our cost of goods sold during the second half of this fiscal year.

Non-GAAP services gross margin was negative 7%, driven by investment in training our partners and one-time employee-related benefit. Our goal is to continue to run services at or near breakeven for the near future as we further engaged with our SI partners. Non-GAAP operating loss was $3.9 million in the quarter, compared to $0.6 million in the prior year, adjusted for the non-GAAP accounting changes mentioned earlier. This was driven by additional investments in sales, marketing, and R&D.

This resulted in non-GAAP operating margin of negative 4.6%, a decrease from breakeven in Q2 of last year. As I shared with you on our last earnings call, operating margins were roughly flat this fiscal year as we absorb expenses, which weren’t included in last year, and accelerate investments. Now looking at ARR and free cash flow, earlier this year, we introduced new KPIs to help investors track our progress, including ARR growth. I’m happy to report that in Q2, ARR grew 18% year over year.

This was ahead of our target of 17% ARR growth for the fiscal year. This was driven by strong upsell performance, as well as new business. We continue to focus on our objective to reach mid-term ARR growth of 25% to 30%. Free cash flow was negative $4.4 million, driven by the seasonality of our business and the timing of our employee stock purchase plan.

Total capex for the quarter was $1.7 billion. Turning to the balance sheet, we ended the quarter with $201 million in cash and cash equivalents, a $3.5 million increase over the prior quarter. We continue to be prudent with spend and are maintaining a healthy cash position to manage the business. Our fully diluted share count at the end of the quarter was approximately 143.3 million shares using the treasury stock method.

In Q2, our execution drove improved performance. We continue to be disciplined in our investments, targeting enterprise customers, focusing on the land and expand motion, and working with SI partners. Now let’s turn to our financial outlook. As we shared with you in the last call, this is a year we plan to accelerate our investments in go-to-market and product development while absorbing costs that were not in our run rate last year.

The updated guidance includes the expenses for the data center migration in the second half that I mentioned earlier. We continue to expect to be free cash flow positive for the full year. For fiscal Q3 we currently expect total revenue of $86 million to $87 million, subscription revenue of $71 million to $72 million, non-GAAP operating loss of negative $3.5 million to negative $2.5 million, non-GAAP net loss per share of minus $0.03 to minus $0.02, assuming weighted average shares outstanding of approximately 125.2 million. For the full year, we are raising our revenue outlook.

We currently expect total revenue of $340 million to $342 million, subscription revenue of $280 million to $282 million, non-GAAP operating loss of minus $13 million to minus $11 million, non-GAAP net loss per share of minus $0.13 to minus $0.11, assuming weighted average shares outstanding of approximately 124.3 million. In closing, I’m very pleased with our performance in Q2. We’ve laid a strong foundation to achieve Zuora’s long-term objectives and are continuing our cadence of execution. Next, we will take your questions.

Operator, please open the call for questions.

Questions & Answers:

Operator

[Operator instructions] Your first question comes from the line of Brent Thill from Jefferies. Your line is open.

Luv SodhaJefferies — Analyst

Hi, guys. This is Luv Sodha from Jefferies on for Brent Thill. Congrats on a nice quarter. I had a couple of questions.

One was, I know, Tien, you mentioned that — you spoke a little bit about your win rates improving and that you’re winning against some bigger competitors within the space. Could you maybe give us some context as to, as you see the opportunity going forward, is it coming from win rates against competitors improving? Or is it more greenfield as we think about it?

Tien TzuoFounder and Chief Executive Officer

Well, Luv, it’s a great question, I would say, when you look at where our business is coming from, it’s certainly coming from both areas, right? It’s coming from companies that have tried other solutions and it doesn’t work and it’s also coming from brand new situations. Look, I will say this, right, billing is not in this new world a commodity. In this new world, companies are realizing, especially after last year, that their customers really expect something completely different. They expect a service.

They expect different ways of paying for the service. They want a very different subscriber experience like Instagram, so in the Instacart experience that we’re all now used to. And you really need a vendor and a provider and a technology solution from a company that’s just focused 100% on this space. And companies are realizing that that to save money or to buy from a vendor that’s not really focused on this area, it is not the way that they gain a competitive advantage.

And Robbie, what would you say given what you’re seeing?

Robbie TraubeChief Revenue Officer

Yeah. It’s just a very interesting void. Thank you, Tien. So, look, as the same customers also, on the one hand, become more sophisticated, we’re seeing the other solutions just do not meet their customers’ expectations.

I was speaking to sort of senior management of the company that Tien referred to and they’re looking at it. They want capabilities out of the box, right? What they do not want in their words, they do not want a lifetime of customizations. And that is also why we’re seeing these companies come to Zuora.

Luv SodhaJefferies — Analyst

Got it. A quick follow-up if I may, either for Todd or Tien, on the net retention rate improvement, could you give us some context as to how much of it was attributed to churn levels improving versus a year ago, and how much of it was upsell versus and cross-sells? Thank you.

Tien TzuoFounder and Chief Executive Officer

So really balanced, we did a great job. We talked about the fact that we’ve made significant investments in customer success. Actual churn was down 50% year over year, a little more than 50% year over year. As a percent of ARR, it’s one of the best levels that we’ve seen again in about 10, 12 quarters.

So we’ve done a really nice job on retaining the customers. But then again, we had a record quarter on upsells and that’s, again, continuing to be very balanced. Typically, if you went back 12, 18 months ago, we were much more reliant on volume. Today, you see it much more balanced, new products that were coming out, the multi-product strategy is absolutely resonating with customers.

So I feel really good about that dollar-based retention being a balanced performance coming from both retention and upsells, and the upsells being across the portfolio.

Luv SodhaJefferies — Analyst

Great. Thank you. I will pass it through.

Operator

Thank you. And your next question comes from the line of Joseph Vafi from Canaccord. Your line is open.

Joseph VafiCanaccord Genuity — Analyst

Hey, guys. Good afternoon and great to see the continued up-tempo cadence in the business here in the quarter. So congrats on that. So just one more on net retention which was great this quarter, and I know you said you had a record quarter on upsell.

Just wondering how that kind of upsell pipeline looks from here, or how we should think about maybe net retention for the rest of the year. And then I have a quick follow-up.

Todd McElhattonChief Financial Officer

So, Joe, first of all, I think, you remember, we talked about at analyst day that we have an opportunity of about $450 million within our install base. So we feel there’s still a lot of runway left. Customers have a strong interest in new products that are coming out. We see a lot of usage as you saw today on the platform.

So we feel really good about what the future looks like for upsell. So from that standpoint, we feel good. We hit 105% plus. We’re in that plus range and we’re going to keep the guidance at that.

From that standpoint, we certainly don’t see ourselves falling backward. But I’m going to be prudent, and we’ll update you next quarter as we progress.

Joseph VafiCanaccord Genuity — Analyst

Sure. Fair enough. Thanks, Todd. And then I’m just a bit curious on — I mean, you’re signing both, I think, the way you classify them as incumbents and disruptors, and channel that’s coming from them relative to your SI.

Do you see — are the SI bringing you, I would imagine, more of the incumbents than as they’re moving with their digital transformations? Or are they also bringing you some of the newer disruptors that are actually, perhaps, becoming SI customers themselves? Thanks a lot, guys.

Todd McElhattonChief Financial Officer

Yeah. I would surely say that it’s both, especially when you look at some of the disruptors. They’re really fast-growing, and you guys attract this as well. There’s a ton of companies that are coming up ready and primed for the public markets.

And when you reach that $50 million, $100 million, $200 million inflection point as a fast-growing disruptor, you know you need help, right? You’ve got billing challenges, you’ve got compliance challenges, you’ve got ASC 606 challenges, and a lot of them are reaching out to the PwC, the eWise, the Deloitte of the world, and that’s where we really do intersect with them. Robbie, any color that you would want to add?

Robbie TraubeChief Revenue Officer

Yeah. I think as you say, there’s a balance there, right, that we’re finding from our size, it’s both sort of source, pipeline, and influence pipeline. I mean, you have seen, you know they’re seeing so much digital transformation in the space. So there’s an awful lot where they’re helping that digital transformation.

And at the same time, as people go more toward public offerings or whatever else, they’re having a lot of help from those SIs, too. So we’re seeing very much both in the disruptors and in the incumbents.

Joseph VafiCanaccord Genuity — Analyst

Thanks very much, guys.

Operator

Thank you. Your next question comes from the line of Andrew DeGasperi from Berenberg. Your line is open.

Andrew DeGasperiBerenberg Capital Markets — Analyst

Thanks for taking my question. First, it was interesting to find two manufactures among the new customer logos you acquired. I was just wondering if maybe you can elaborate the sales motion with those types of customers, and maybe elaborate as well as what kind of products were they taking at a day. Do they take any beyond billing? Was there some of the other strategic products that you have as well?

Tien TzuoFounder and Chief Executive Officer

Yeah. You probably know from past conversations, Andrew, that I’m a huge — I’m very bullish on the manufacturing sector. I mean, if you really even pull back, look at 50, 60, 70 years, people have a sense the manufacturing sector is starting to decline. And we’re really seeing a major reversal of that.

And it’s all because of IoT. And when every single physical product is connected to the internet, the same revolution that you found in the software sector, right, where software became Software-as-a-Service, the same revolution you found in, say, entertainment and media. It’s happening in the physical products world. And so the manufacturing companies we work with.

The common threat is they spent the last four, five, six years investing in an IoT infrastructure, connecting all their products to the internet. And now their imagination is just bursting with new revenue streams that they could get. And some of these could be initial launches even, right, we’re able to help them launch a brand new internet IoT-driven service in 90 days or less and grow from there. I mean, that’s really one of the stories, say, the story caterpillar comes to mind in the work that we’ve done.

And then some of them are actually — they’ve had a service out there for some time. It’s going really, really well. Last year, they’re seeing that these are the parts of their business, their revenue streams that are growing the fastest, and they’re doubling down on those areas. And a company like Philips, for example, would come to mind as an example there.

Andrew DeGasperiBerenberg Capital Markets — Analyst

That’s helpful. And then on your certified partner count, the growth looks pretty impressive. I just wondering, should we use that as a metric to cut as or as a derivative of your growth in your strategic partnerships? Would you advise —

Tien TzuoFounder and Chief Executive Officer

No. I don’t think I would do that.

Andrew DeGasperiBerenberg Capital Markets — Analyst

OK. Thank you.

Tien TzuoFounder and Chief Executive Officer

Thanks, Andrew.

Operator

Thank you. And your last question comes from the line of Scott Berg from Needham. Your line is open, sir.

Scott BergNeedham & Company — Analyst

Hi, everyone. Congrats on the nice numbers and thanks for taking my questions. I guess this question is probably for Tien or Robbie, a lot of questions on upsell and churn, but how about the kind of the net new customer sales in the quarter and the pipeline? As you look at those deals in the three beachheads, Tien, that you mentioned that you can land with today, are those deals still highly skewed toward the billing side of the equation, which I think we probably all suspect? Or are you seeing nice traction with initial lands on the other two modules as well?

Tien TzuoFounder and Chief Executive Officer

Yeah. So what I tried to highlight in the call is, we’re definitely seeing new lands with the other modules, and the Zuora Revenue was one of the examples that we gave. And overall, so we’re pretty happy. We’re pretty happy with the new land motion.

We’re pretty happy with the new business. If you look at it, the number of customers continues to tick up quarter over quarter. And at the same time, right, ACV per customer on this deal, the deal sizes are getting bigger as well, which is a really positive sign. And so that part of the business continues to work well.

And we’re really happy with just the blended aspect of the business, right? At the end of the day, these aren’t two businesses. These are new customers coming in. And we want to make sure that we continue to do that and continue to have a fantastic path for growing our value and footprint within those accounts and translating that into additional revenue.

Scott BergNeedham & Company — Analyst

Got it. Helpful. And then from a follow-up perspective, Todd, you’ve certainly highlighted the mix of services moving to partners the last couple of quarters. I think we understand the general progression there.

But where should services fall out either as a percentage of revenue or on maybe on an absolute basis here once that move is done? And then I assume we probably work our way a little bit higher from there, just in relation to the national growth of the company.

Todd McElhattonChief Financial Officer

So I think when we talked at analyst day, we said, we thought it would be around 15%. It may bounce a couple of points one way or another. We’ll make sure we do the right things for our customers. But I think the SI partners that we see coming in, they’re training up lots of people.

They are a great channel for us, and we’re more than happy for them to take on that business.

Scott BergNeedham & Company — Analyst

Great. That’s all I have. Congrats on the good quarter again.

Todd McElhattonChief Financial Officer

Hey, thanks again, Scott.

Tien TzuoFounder and Chief Executive Officer

Thanks, Scott.

Operator

Thank you. I’m showing no further questions at this time. I would like to turn the conference back to our CEO, Mr. Tien Tzuo for any additional remarks.

Sir?

Tien TzuoFounder and Chief Executive Officer

Great. Thank you. Thank you. Well, before I close it out, I just wanted to thank all our ZEOs, their innovations, their contribution, and their continued execution, these are what really make us who we are.

Our people are what makes an incredible place and I’m incredibly proud of what we accomplished together in Q2. It is clear from our dollar-based retention performance that our land and expand enterprise strategy is working. Our products are resonating with our customers. Our ARR growth remains strong and a subscription economy continues to have a lot of room for upside.

We feel well-positioned and positive about the future based on our overall momentum this quarter, and we feel good about where we are. Thank you for joining us today.

Operator

[Operator signoff]

Duration: 28 minutes

Call participants:

Luana WolkHead of Investor Relations

Tien TzuoFounder and Chief Executive Officer

Todd McElhattonChief Financial Officer

Luv SodhaJefferies — Analyst

Robbie TraubeChief Revenue Officer

Joseph VafiCanaccord Genuity — Analyst

Andrew DeGasperiBerenberg Capital Markets — Analyst

Scott BergNeedham & Company — Analyst

More ZUO analysis

All earnings call transcripts

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.


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Opinion: The future of your business depends on your financial knowledge https://www.tomaszpietak.com/opinion-the-future-of-your-business-depends-on-your-financial-knowledge/ https://www.tomaszpietak.com/opinion-the-future-of-your-business-depends-on-your-financial-knowledge/#respond Mon, 30 Aug 2021 17:09:10 +0000 https://www.tomaszpietak.com/opinion-the-future-of-your-business-depends-on-your-financial-knowledge/ The American Management Association is the oldest training company in the United States. It was founded in 1926 and has trained over 10 million people. Of the 160 corporate seminars it offers to business owners, executives, managers and frontline supervisors, the most popular learning program is a two-day workshop titled “Fundamentals of Finance and accounting […]]]>

The American Management Association is the oldest training company in the United States. It was founded in 1926 and has trained over 10 million people. Of the 160 corporate seminars it offers to business owners, executives, managers and frontline supervisors, the most popular learning program is a two-day workshop titled “Fundamentals of Finance and accounting for non-financial managers ”.

This program is not popular because it is the easiest to follow or the shortest (others do not require nightly homework as it does and usually last three or four days). It’s popular because it’s the most necessary training for business success for current and future leaders. To help you promote your career as a business owner or executive, you need to be able to “speak the language of business”. It involves controlling cash flow, understanding budgets, monitoring expenses, increasing income within existing or future staff levels, controlling costs, allocating assets, inventory and resources, and knowing how to read and interpret often interrelated financial reports.

People wishing to start a new business, especially those in need of a bank loan or an injection of venture capital, know that they need to develop a comprehensive business plan. But after getting funded, they pass the “financial stuff” on to someone else in the business, or worse, they ignore it until cash management and cash flow become problems. major for their survival. This is a common problem among business founders who describe themselves as “creative, technical, artistic, client-focused or relationship-oriented types” where their lack of financial sense outweighs other skills they consider more valuable.

If they don’t take ownership of the financial side of their business and rely on other employees – who may not be ethical or have a lot of numbers skills either – they run the risk of embezzlement. funds or financial ruin.

Many talented people who are new to running a business ignore the need to work ‘on the business’ and confuse it with working ‘in the business’. Both are necessary, but the former means they have to set regular schedules to do a thorough review of the company’s financial health – reviewing a reporting dashboard that should prompt them to make important decisions and even immediate. Too often, however, they focus on customer relations, sales, marketing, product research and development, hiring and managing employees, mainly because financial discussions are seen as tedious, confusing, stressful. or boring. In short, they are stepping out of their comfort zone.

They justify this reluctance or avoidance of regular financial reviews because it’s easier for them to spend their time doing the tasks they love – making money and interacting with co-workers, clients and clients – compared to those they don’t like. They rationalize the time they spend on marketing or product development as somehow more valuable than the time required for financial reviews.

Ask any financial management professional – chartered financial planner, stock broker, accountant, or tax preparer – how often a married or cohabiting couple should sit down and review their income, expenses, budget , savings and investment plans. Their responses may range from once a week to once a month, but these discussions – with reports, bank statements, receipts, etc.

As an employee seeking a supervisory, managerial or leadership role, it is essential for your success to acquire basic financial statement knowledge. You need to understand a few things: the accrual accounting process, the accounting equation and what generally accepted accounting principles mean; liquidity, leverage and profitability through understanding cash flow; fixed, variable, overhead and break-even analysis; balance sheets and income statements; operating and investment budgets; employee and payroll tax reporting requirements; and return on investment for departments, projects and strategic plans.

And even if the company you work or lead for is not publicly traded, you still need to understand how capital markets work and how to read a company’s or competitor’s annual report.

There are many approaches to improving your financial literacy. Some suggestions: online courses given by training companies specializing in one-day or multi-day seminars; local or online college and university courses, refresher courses or certificate programs; or self-study programs offered by financial education associations or non-profit organizations.

Seek mentorship from finance professionals in your business. Get instruction, lesson plan, and supportive career advice from your CFO, CFO, CPA, or similar experts. They recognize the value of the data they create and interpret; they will want you to like it just as much.

Steve Albrecht is a Springfield-based human resources trainer, security consultant and employee coach. He can be contacted at drsteve@drstevealbrecht.com.


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The fragile future of our “common reality” – InkFreeNews.com https://www.tomaszpietak.com/the-fragile-future-of-our-common-reality-inkfreenews-com/ https://www.tomaszpietak.com/the-fragile-future-of-our-common-reality-inkfreenews-com/#respond Wed, 25 Aug 2021 20:00:29 +0000 https://www.tomaszpietak.com/the-fragile-future-of-our-common-reality-inkfreenews-com/ By Bud Herron Guest columnist COLOMB – “What is the sum of two plus two?” “, Asked a company president while interviewing a series of candidates to lead his accounting department. Plaintiff after plaintiff, he answered “four” and each was rejected and escorted out of the building. On the verge of giving up, the president […]]]>
By Bud Herron
Guest columnist

COLOMB – “What is the sum of two plus two?” “, Asked a company president while interviewing a series of candidates to lead his accounting department.

Plaintiff after plaintiff, he answered “four” and each was rejected and escorted out of the building.

On the verge of giving up, the president turned to the final candidate and asked the question one last time.

“The sum of two plus two is what you want it to be, sir,” replied the future CFO.

The joke is old – funny because the whole idea is ridiculous.

Obviously, two plus two is four. Obviously, the president and the new CFO are crooks.

“Four” has been the reality my whole life. The reality has not been debated. Reality has been a constant, unaltered by anyone’s efforts to bend it to their own desires. What is, is. What has been has been.

Americans may not agree on the precise facts of a case or the truths that those facts reveal, but almost all of us believed we lived in the same “real” world – a place where two plus two will always equate to four, no matter what we wish it to be.

I worked 40 years as an active journalist, believing that a “common reality” was a core American value. My job, I believed, was to present the news of the day as objectively as possible in this reality.

I was not naive enough, of course, to believe that total objectivity was possible. Even the best effort planned for total objectivity is filtered through the subjectivity of each writer and editor. Yet the intention and effort to be objective was an overriding journalistic principle.

Readers occasionally complained about the news perceived to be “biased”. Sometimes the newspaper was at fault; an opinion column was not clearly labeled as such, or a journalist’s opinion somehow made its way into a news article or was implied in a headline.

And, on the other side of the objectivity equation, complaints about “biased news” were themselves often “biased.” Such complaints did not necessarily mean that the reader wanted objectivity. Sometimes the reader was upset because the objective facts did not support their social or political views. When the facts tell a story that conflicts with a person’s sincere beliefs, no matter how unbearable those beliefs may be, some are tempted to blame the messenger.

Yet in my 40 years as a journalist, editor, and publisher, I have encountered very few situations where disagreements cannot be discussed and conflicts potentially resolved. Almost everyone lived in a “common reality” and believed that two plus two was four. Reality – a common and inviolable basis of fact and truth – was a point of contact in almost every difference of opinion.

My concern today is that a blurring – if not a complete rejection – of the distinction between reality and belief too often wins and closes the reasoned discussion.

I’m afraid too many of us have accepted the idea of ​​”reality by consensus” – defining what is “real” based only on the consensus of any group that decides to come together and be the “decision maker”.

The creation of these consensual alternative realities – filled with supposedly alternative facts and truths – has been promoted by an array of opportunists and crooks: politicians who garner votes by anointing the worst human beliefs and behaviors as acceptable, even noble. – the most eccentric lies as objective truth; the media that jump on the bandwagon to make money by supporting lies and comforting people who want to believe them; citizens who believe that two plus two doesn’t have to be equal to four, if they just join a group that says the sum is three, or six, or whatever.

I hope this consensus reality train that much of our nation has boarded on is just a dividing line to nowhere and eventually breaks down.

But, if this absurdity is here to stay, and the future of our nation no longer has a common reality, that future is as fragile as the wing of a butterfly.

Once a sufficient number of us accept the irrational idea that reality is simply a matter of personal or group opinion, not only can legitimate newspapers disappear from existence, but also our nascent experience of 245. years in representative democracy.

Bud Herron is a retired editor and newspaper editor who lives in Columbus. He was editor of La République from 1998 to 2007.

This article is courtesy of the Hoosier State Press Association.


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Rams’ Ground game is just getting better https://www.tomaszpietak.com/rams-ground-game-is-just-getting-better/ https://www.tomaszpietak.com/rams-ground-game-is-just-getting-better/#respond Sun, 22 Aug 2021 16:51:43 +0000 https://www.tomaszpietak.com/rams-ground-game-is-just-getting-better/ The Rams’ most coveted story to watch throughout training camp has been how their running backing squad will develop following the exclusion of starter Cam Akers for the season after suffering a tear. of Achilles. In the preseason opener against the Chargers a week ago, the committee of Xavier Jones, Jake Funk and Raymond Calais […]]]>

The Rams’ most coveted story to watch throughout training camp has been how their running backing squad will develop following the exclusion of starter Cam Akers for the season after suffering a tear. of Achilles.

In the preseason opener against the Chargers a week ago, the committee of Xavier Jones, Jake Funk and Raymond Calais totaled just 47 yards in a group. They averaged less than 2.5 yards per carry as they never found the footing to smash a big one against the Chargers defense.

However, their efforts against the Raiders were very different. The three rushers totaled 90 yards on 17 carries. Quarterback Bryce Perkins also entered the mix, clocking up nine carries for 41 yards.

“Just seeing him get into that rhythm and get us there was amazing,” Jones said of his quarterback. “I had total confidence in him. I knew he could do coins.

Jones himself had a better night, recording seven carries for 29 yards. In addition, his final line would have been even better if several attempts had not been canceled by penalties. The Rams committed 10 penalties overnight for 84 yards.

Funk led the way on the ground among the rushers, averaging eight yards per attempt. He displayed deviousness, proper vision in traffic, which ultimately propelled him to a game-high 19-yard run, which he interrupted.

“I saw a lot of Funk,” McVay said after the game. “I think he did a good job. I thought Xavier (Jones) had done a few plays. You saw him catch a few assists and be able to create a little bit. But I really felt Funk tonight. “I thought he did a great job being able to create explosive tracks, one from the point, one from the staggered gun. But it was good to see these guys making plays.”

Overall, McVay seems happy with the development of his young rushers. While Calais suffered a foot / ankle injury against the Raiders that will require surgery, Funk and Jones appear to be carving out their roles ahead of the Week 1 opener.

Whether the Rams are looking to add a veteran following another injury in the running hall is something to watch out for in the coming days or weeks.

Continue reading: Raiders 17, Rams 16: Top 5 sightings

Nick Cothrel is the editor of Ram Digest. Follow Nick on Twitter @NickCothrel.



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Three current English bowlers with the most try wickets against India https://www.tomaszpietak.com/three-current-english-bowlers-with-the-most-try-wickets-against-india/ https://www.tomaszpietak.com/three-current-english-bowlers-with-the-most-try-wickets-against-india/#respond Sun, 22 Aug 2021 02:58:03 +0000 https://www.tomaszpietak.com/three-current-english-bowlers-with-the-most-try-wickets-against-india/ England have conceded a zero lead in the ongoing five-game test series against India. Not only did the hosts struggle with the bat, their bowlers weren’t able to provide consistent breakthroughs either. England’s troubles started with the absence of Ben Stokes, leaving their side short of players to find the right balance. On top of […]]]>

England have conceded a zero lead in the ongoing five-game test series against India. Not only did the hosts struggle with the bat, their bowlers weren’t able to provide consistent breakthroughs either.

England’s troubles started with the absence of Ben Stokes, leaving their side short of players to find the right balance. On top of that, Stuart Broad being kicked out of the series only put more pressure on their bowling ace, James Anderson.

To make matters worse for the hosts, Mark Wood also suffered a shoulder injury during the second test at Lord’s and will need to be assessed ahead of the third test at Leeds. Lancashire pitcher Saqib Mahmood has been added to the England squad, alongside Sam Curran and Ollie Robinson, as the hosts try to find the right balance and substitutes for their squad.

With England strapped for experienced quick bowling resources, let’s take a look at the current three bowlers who have the most wickets against India in tryouts.

3) Sam Curran

Sam Curran celebrates Virat Kohli's wicket in the second Test.
Sam Curran celebrates Virat Kohli’s wicket in the second Test.

Often regarded as the Indian kryptonite player in his young career, Sam Curran is third on the list with just 12 wickets to his name against the visitors. Perhaps this highlights how limited England is in their bowling resources.

Sam Curran has been rather erratic on several occasions in the series and will need to find his best form to keep his team alive on the series. He’s got a bag of stuff up his sleeve and has a knack for taking crucial wickets, as he did in the second test, representing Virat Kohli on the fourth day.

The likes of Ollie Robinson and Mark Wood are not far behind on the list, with nine and five wickets respectively against India. While the former has been impressive, the latter could miss a few tests due to injury, which could open the door for Saqib Mahmood. England will be counting on their new-age bowlers to succeed in this series and provide inspiration to inspire a fight to overthrow the series.

2) Moeen Ali

England v India - Second LV = Insurance Test Match: Day 2
England v India – Second LV = Insurance Test Match: Day 2

Then. This is where the list gets fascinating. With Stuart Broad out of the equation, England currently lack experienced bowlers to handle the workload with Anderson. Moeen Ali is next on the list with 52 wickets against India.

It should be noted that England omitted Jack Leach, a specialist spinner, to add Moeen Ali to their squad for his versatile abilities. Therefore, Moeen should take wickets if the wicket helps the spinners.

With England already running out of bowling options, they have to rely on their all-rounder to find inspiration and produce the products needed to support the workload.



1) James Anderson

Jimmy Anderson celebrates Virat Kohli's wicket in the first Test.
Jimmy Anderson celebrates Virat Kohli’s wicket in the first Test.

There is no doubt that James Anderson is already one of the greats in the game and England need to rely heavily on their 39-year-old racer to continue producing the goods consistently. Anderson recently passed Anil Kumble to become the third-largest wicket taker in tests, scalping 626 wickets.

The legendary pacer is the biggest wicket taker for England in this series, alongside Ollie Robinson with nine wickets. He recorded his 31st fifer test at Lord’s, making it his fifth booty from five wickets against India, also recording his 127th wicket against the same opposition in the process.

With Broad and Stokes out of the series and Wood struggling with a shoulder injury, England need Anderson to lead an inexperienced bowling attack against a formidable Indian batting team.




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Hawaii looks to mainland teachers to end distance learning backlog https://www.tomaszpietak.com/hawaii-looks-to-mainland-teachers-to-end-distance-learning-backlog/ https://www.tomaszpietak.com/hawaii-looks-to-mainland-teachers-to-end-distance-learning-backlog/#respond Fri, 20 Aug 2021 06:33:58 +0000 https://www.tomaszpietak.com/hawaii-looks-to-mainland-teachers-to-end-distance-learning-backlog/ The Hawaii Department of Education is recruiting mainland teachers to facilitate its statewide distance learning program, which is helping to delay the withdrawal of more students from a long waiting list. Teri Ushijima, acting deputy superintendent in the office of curriculum design and education, told the Board of Education that at least 245 children are […]]]>

The Hawaii Department of Education is recruiting mainland teachers to facilitate its statewide distance learning program, which is helping to delay the withdrawal of more students from a long waiting list.

Teri Ushijima, acting deputy superintendent in the office of curriculum design and education, told the Board of Education that at least 245 children are still waiting to enroll in the distance program.

“We are doing our best to hire teachers as soon as we can and to open seats as quickly as possible,” she said at a board meeting on Thursday. “A lot of our teachers have been hired out of state, so a lot can move out in a week or two. “

The first day of the new school year was August 3. Three weeks later, the acting superintendent took stock. Cory Lum / Civil Beat / 2021

But she stressed that teachers cannot start working until they get to the islands despite calls to let them start distance education.

So far, 2,315 students, or about 1.4% of all students, are enrolled in the statewide plan, which does not include those enrolled in separate school options, a she declared.

The state Department of Education has insisted that most children should resume full in-person learning this year after more than a year of mostly virtual learning, as schools have struggled to s ‘adapt to the pandemic.

The DOE has a limited number of places for children to participate in distance learning for health reasons, but the plans were rolled out just days before the start of the new school year on August 3 and the managers always strive to meet demand.

During Thursday’s meeting, Education Council member Kaimana Barcarse asked why the DOE couldn’t change its policy or guidelines to allow recruits on the continent to start immediately from their place of residence. current instead of waiting for them to move.

“It seems to me that especially during a pandemic and the economic crisis we find ourselves in, this possible modification (the rule of the continent) would create more opportunities for our students to obtain highly qualified distance learning,” said declared Barcarse.

Relocation requirements

Sean Bacon, acting deputy superintendent in the office of talent management, responded that current DOE guidelines require “that all telecommuting employees be in the state of Hawaii.”

“We will be setting up a committee to review the current guidelines and whether we need to make any changes,” he said, adding that factors such as workers’ compensation and residency tax requirements are part. of the equation.

He also said the department was hiring teachers from the mainland to allow instructors already in Hawaii to focus on their in-person lessons and to avoid “placing additional strain on schools at this time.”

DOE spokeswoman Nanea Kalani said on Wednesday that the department had so far hired 18 remote teachers and was looking to hire five to seven more. On Thursday evening, she said she was not immediately sure how many of those new hires were from the mainland.

“The signs are that the pandemic is not going to end. In-person learning cannot stop. – Acting Superintendent Keith Hayashi

Towards the end of last year, many teachers had to run courses online and on campus simultaneously due to a hybrid system that gave parents the choice of keeping their children in school.

Now, with the full return of students to campuses, many teachers are saying their classrooms are overflowing with students and they are unable to maintain Covid distancing requirements, contributing to security concerns.

Responding to concerns about the spike in Covid cases due to the highly contagious delta variant, Acting Superintendent Keith Hayashi said the DOE will address possible outbreaks on campuses as they arise, in conjunction with advice from officials of the state health ministry.

“These are the medical experts and we will defer to them to review any of these decisions if they were to occur,” said Hayashi, who took over as director of the DOE from former Superintendent Christina Kishimoto on Aug. 1.

With Friday being a public holiday, the DOE also provided its latest weekly count of Covid cases.

There have been 383 confirmed cases of staff and students since Saturday, up from 325 the week before. In 276 of the new cases, the DOE said the infected person “was not on campus during the infectious period”, indicating that the protocol for staying home when sick “is working to help prevent the spread in schools “.

Union concerns

The Hawaii State Teachers Association, which represents 13,500 teachers, this week asked that education officials negotiate a memorandum of understanding to help protect the safety of teachers in schools and to provide all appropriate triggers for emergency instruction.

Kalima Kinney, principal of the Volcano School of Arts and Sciences on the island of Hawaii, a public charter school, was one of many witnesses who pleaded with the BOE to consider the request for negotiations.

“A clear formula and accounting will be enough to maximize safety,” she said.

The DOE also provided an update on compliance with Governor David Ige’s emergency proclamation for state and county employees to be vaccinated against Covid or undergo mandatory weekly testing.

Hawaii teachers and other DOE staff have until Aug. 30 to upload proof of their immunization status or undergo weekly testing.

“This is a testing requirement and not a vaccine warrant, so there is no religious exception to testing,” Hayashi said.

As of Thursday, 14,300 of 45,000 DOE staff had uploaded their immunization status to an internal portal. Bacon said 78% of respondents were vaccinated.

However, in a message to members uploaded to its website on Thursday, the HSTA said there was a loophole in the new mandate: Those who previously contracted Covid and were allowed to return to work are exempt from weekly testing for 90 days.

He said the requirements for the exception include the absence of new symptoms, the completion of a period of isolation and quarantine, and a upload of documents confirming the date of infection and that the patient had been released.

Hayashi reiterated his confidence in safety protocols aimed at mitigating the spread of the virus in schools.

“We have systems in place to ensure safe learning environments,” he said. “The signs are that the pandemic is not going to end. In-person learning cannot stop.


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Acorns certainly look ripe for Robinhood picking now that there is no degree of separation after Say Technologies deal, analysts say https://www.tomaszpietak.com/acorns-certainly-look-ripe-for-robinhood-picking-now-that-there-is-no-degree-of-separation-after-say-technologies-deal-analysts-say/ https://www.tomaszpietak.com/acorns-certainly-look-ripe-for-robinhood-picking-now-that-there-is-no-degree-of-separation-after-say-technologies-deal-analysts-say/#respond Tue, 17 Aug 2021 03:54:48 +0000 https://www.tomaszpietak.com/acorns-certainly-look-ripe-for-robinhood-picking-now-that-there-is-no-degree-of-separation-after-say-technologies-deal-analysts-say/ Two Say Technologies co-founders are also Acorns brass, and the two business models complement each other enormously, according to close observers. Brooke’s Note: Ultimately, everything about Wall Street evolves into an RIA. It took decades for Wall Street to take the step. The world is going much faster now. The underlying problem is moral sustainability […]]]>

Two Say Technologies co-founders are also Acorns brass, and the two business models complement each other enormously, according to close observers.

Brooke’s Note: Ultimately, everything about Wall Street evolves into an RIA. It took decades for Wall Street to take the step. The world is going much faster now. The underlying problem is moral sustainability combined with a need for recurring income. A transactional model is not only a questionable foundation, ethically, but it is also a conveyor belt of a business model. What’s interesting is how the grass is always greener on the other side. Robo-advisers develop greater autonomy, because Robinhood is all the first successes in terms of volume. Young investors with thin wallets found the idea of ​​”democratizing finance” to be the freedom – however illusory – that free trade gives them. The robot advisers, on the other hand, weren’t only boring but also smacked of patriarchy. Give us your money and we’ll do what Eugene Fama’s efficient and dusty market models tell us to do. Now we need to see if a merger between a RIA and a broker makes sense in the world of digital accelerated apps, as the owners of Robinhood and Acorns get mixed up in the world of mergers and acquisitions.

Robinhood’s purchase of Say Technologies – Acorns’ flagship royalty project – has observers questioning why the two companies don’t combine and have an even bigger party.

Noah Kerner is inside Acorns.

Still known as Mirror Images in Adjacent Channels, Acorns and Robinhood are now related in blood because of Noah Kerner and Jeffrey Cruttenden. See: Robinhood tilts its business model towards ‘social media capital’ with the purchase of Say Technologies, which has a Reddit-style chat function and proxy software to run rebellions

Kerner and Cruttenden are CEO and co-founder of Acorns, respectively. Kerner is not a co-founder but has been CEO almost from the very beginning.

Jeff Cruttenden co-founded Acorns with his father, Walter Wemple Cruttenden III, who focused on Acorns, while Jeff’s preoccupation became Say Technologies.

The compatibility is wide, says John Crittenden, strategic advisor to Stealth Mode in Los Angeles and former director of institutional services at Acorn.

“Match made in heaven,” he said. “Design engineering first, aiming to overlap with demos while serving a different but complementary part of the wallet. Acorns equates to a basic robot and expense.

“Robinhood equals satellite and crypto. A combined account base of over 26 million … indefinitely.”

Blood relationship

The match also has astrological meaning, according to Will Trout, research analyst at Javelin Strategy.

Trout
Will Trout: “It seems the stars for such a development are aligned.”

“It seems that the stars for such a development are aligned,” he says.

“I had often thought that Stash Invest was a more natural partner for HR, given the former’s emphasis on the digital experience and a pricing model designed to give the investor greater fair value than that of Acorns. “

The Acorns-Robinhood blood relationship is remarkable in light of the high volume, low balance approach every business thrives on.

But, then again, retail participation by unlikely mainstream investors could peak, according to Lex Sokolin, senior researcher at Consensys in London.

“The management of SAY has the pedigree of Acorns, which has embraced the theme of microinvestment and understood the power of retail better than mass roboadvisors,” he said via email. “The counter argument would be that we are at an historic level of retail involvement, and maybe this is the top.”

Red herring

Of course, if Robinhood was going to race at Acorns, he has competition.

Lex sokolin
Lex Sokolin: “The management of SAY has an Acorns pedigree. “

Acorns, founded in 2012 and launched in 2014, is fully anchored in a PSPC-style IPO that will provide nearly $ 400 million in capital.

A private investor has committed an additional $ 165 million.

Much of that money can be spent on adding some of Robinhood’s abilities – both organically and through acquisition. See: Acorns Raises $ 565 Million for Robinhood-ize Herself; lately this includes self-directing options and buying fintechs

Still, it’s unlikely that Acorns ever intended to outdo Robinhood Robinhood with trading abilities, Trout says.

“Acorns’ announcement to introduce self-directed investing is, in my opinion, a red herring,” he says.

“This is quite meaningless because Acorns’ value to HR is linked to creating a one stop shop for investment, similar to SoFi or Wealthsimple [outside the US]. Think about savings, investments and other financial services. “

Separate, distinct

According to Bettermenet co-founder and former CEO Jon Stein, it seems likely that Acorns will pursue its own destiny regardless of the close personal and financial ties of its leaders.

Jon Stein, Improvement
Jon Stein: “I see Say as a great investment for Robinhood to engage clients. “

“I see Say as a great investment for Robinhood to engage clients who want to do more than just transact,” he says. “I don’t think this indicates that an Acorns acquisition is more likely. The two companies are separate and distinct.”

Combined with previous increases totaling $ 202 million since its founding in 2012, Acorns will have $ 767 million to fuel its ambitions without the help of Robinhood.

“The public list accelerates Acorns’ ability to create a system of financial well-being for ordinary Americans,” says the SEC filed a press release announcing the IPO of SPAC.

Having a wellness system in its arsenal could prove to be a boon for Robinhood, which is under fire for triggering investor endorphins with gamification to bring them into an investment atmosphere similar to that of ‘a casino. See: Checking Pre-IPO Boxes Robinhood Works Quickly With FINRA With $ 70 Million Settlement, But A Minefield Of Less Friendly Investigators And Litigants Await Us

Indeed, Robinhood sees itself as a creator of wealth, adds Trout.

“Keep in mind that RH has never positioned itself as a ‘stock trading’ platform, but instead avoids that negative connotation by talking about helping investors build wealth,” he says. .

“With a potential acquisition of Acorns or another robot-like platform, managed portfolios are part of the mix.

The micro-investment element resonates in particular, given the ongoing democratization of investment and wealth management activities, and the parallel trend towards personalization, ”he said.


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The Afghan airspace that airlines want ✈️ https://www.tomaszpietak.com/the-afghan-airspace-that-airlines-want-%e2%9c%88%ef%b8%8f/ https://www.tomaszpietak.com/the-afghan-airspace-that-airlines-want-%e2%9c%88%ef%b8%8f/#respond Tue, 17 Aug 2021 01:31:53 +0000 https://www.tomaszpietak.com/the-afghan-airspace-that-airlines-want-%e2%9c%88%ef%b8%8f/ The National Disaster Management Authority (NDMA), one of the main agencies coordinating the Covid response for India, has called the potential third wave “the ticking timeline.” An increase in Covid cases around the world, particularly Indonesia being the new epicenter of the virus, has put Indian authorities on high alert. The NDMA released a report […]]]>

The National Disaster Management Authority (NDMA), one of the main agencies coordinating the Covid response for India, has called the potential third wave “the ticking timeline.” An increase in Covid cases around the world, particularly Indonesia being the new epicenter of the virus, has put Indian authorities on high alert.

The NDMA released a report as a preparatory response, titled “Preparing for the Third Wave of Covid-19 – Childhood Vulnerability and Recovery”. He looked at mitigation measures to prevent women and children from being the most affected in the event of a third wave.

Here is what the report says: While there is not enough data to substantiate widespread fears that children will be hit harder in the predicted third wave, a major challenge is the lack of an approved vaccine for children in India for the moment.

Citing statistics from the Department of Health and Family Welfare, the report points out that of all children hospitalized due to Covid, 60 to 70% had comorbidities or low immunity. Co-morbidities can include children with diabetes, high blood pressure, obesity, etc.

On June 27, the government had Recount the Supreme Court that the Covid vaccination for children (12-18 years old) can start in July or August. It did not materialize.

According to Dr Randeep Guleria, director of the All India Institute of Medical Sciences (AIIMS), New Delhi, Bharat Biotech’s Covaxin vaccine could be available for children in India around September. This is when data from phase two and three trials for the age group is expected.

Pfizer, the only vaccine given to children in the world, has not even been approved for adults in India, so it might be difficult to expect it to be available for children.

But the vaccination rate is low in India, with just over 100 million people fully vaccinated, or 7.6% of the population. Children were left out of the equation entirely.

It will have striking ripple effects.

Dr Devi Shetty, who heads the expert committee of doctors set up by the government of Karnataka to prepare for a possible third wave of coronavirus, said in the report that children, especially those under the age of 12 , will be the most affected. Most adults can already be infected or immune (even partially).

With schools reopening in many parts of the country, it is important to ensure that staff and teachers are fully immunized as a priority. And, of course, urgently boosting pediatric medical capacity in anticipation of the threat of an impending third wave.


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