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Marketo Inc. (MKTO)
Q2 2013 Earnings Call
July 30, 2013 5:00 PM ET
Erica Abrams – IR
Phillip Fernandez – President and CEO
Frederick Ball – CFO
Greg Dunham – Goldman Sachs
Philip Winslow – Credit Suisse
Terry Tillman – Raymond James
Richard Davis – Canaccord Genuity Inc.
Patrick Walraven – JMP Securities LLC
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Thank you Joel. Thank you all for joining us today for Marketo’s second quarter of fiscal 2013 financial results conference call. Joining me on the call today are Phil Fernandez, CEO and Fred Ball, CFO of Marketo.
Before we get started today I would like to remind you that this call is being webcast and recorded. The webcast can be accessed live on the Investor Relations section of our website and via replay on our website shortly after the conclusion of the call. The website can be access at investors.marketo.com.
On this call today we will provide you with details about our performance in Q2 of fiscal year 2013. Some of our comments may include forward-looking statements such as statements regarding our outlook for the third quarter and fiscal year 2013. These forward-looking statements are based on certain assumptions and are subject to a number of risks and uncertainties. Actual results may vary materially.
Please refer to the section entitled forward looking statements in our earnings release and read the risk factors included in our filings with the SEC. Most recently our S1A as filed May 18, 2013. I would like to point out that the results reported today include certain non-GAAP financial measures and that the measures discussed on this call will be non-GAAP unless stated otherwise. We provide non-GAAP financial measures because we believe they are the most valuable way to review our core operating results.
We have provided a reconciliation of non-GAAP measures to their comparable GAAP measures in our earnings release which is available on our website and has also been filed on Form 8-K. The forward-looking statements and risks stated in this conference call are based on current expectation as of today and Marketo assumes no obligation to update or revise them whether as a result new developments or otherwise.
Now I will turn the call over to Phil for his remarks. Please go ahead.
Thank you, Erica and thanks for joining us today as we report our financial results of the second quarter of 2013. We’re delighted to be conducting our first earnings call after our debut as a public company with such good results. In the quarter revenue increased 62% year-over-year and 14% sequentially to $22.5 million and other key metrics were well in line with our expectations and operating goals
Before I discuss the quarter I would like to take just a minute to welcome our new Public Investors who have chosen to join us on our journey to build a great and very valuable public company. I would also like to do a true heart full shout to each and every one of our employees in Marketo for the incredible role you have all played in the success to-date. We couldn’t have done it without each and one of you.
And finally I would like to thank our customers who have put their trust and confidence in our solution and our vision. I believe that our continuous success and growth confirms the customer is very much want to do business with an innovator that solely focused on building the industry’s best marketing platform. So those of new to Marketo let me quickly recap our vision. We provide the leading cloud based marketing software platform. One that is built to enable organizations to excel in modern relationship marketing. We serve a very large addressable market ranging from small business to the world’s largest global enterprises and across business-to-business and business-to-consumer industries ranging from technology to healthcare, business services, education, manufacturing, media and entertainment, telecom, financial services and consumer brands.
Our success is driven by a cash and commitment to our customer success and by at the stain track record of thought leadership and technology innovation that can only come from our singular focus on greeting great products from marketing professionals.
As you know the category we serve continues to be very dynamic and active. We historically owned the innovation for marketing software and as anything I believe that the moves we’ve seen in the marketplace over the last couple of quarters clears the path for us to continue to be that agenda setter and we expect to continue to drive in this large and very fast growing marketing software category.
On the call today we’ll touch on several elements of the growth strategy that we have articulated previously including an intense focus on customer acquisition across each of the broad markets we serve expanding revenue yield within our growing install base finding success in additional and adjacent markets and verticals in innovating to extend our marketing thought leadership.
Overall our business in the second quarter was very strong. I was particularly happy with the diversity of new customers we acquire during the quarter both small businesses and global enterprises across all of the geographies in which we sell and industries that we serve. And I am not taking anything away from our continued strength selling to small and medium business. I note that our quarter was particularly robust in the enterprise segment.