Q3-FY23 result is out. It is not great YOY basis.
Con Call Notes
General
- 5% investment (from EBITA) from product to platform business
- Next quarter will be better than Q3 in terms of EBITA basis. Shall be able to cross Q4 more than $75 millions
- The focus is on Europe
- ThoughtMachine - Invested $550 million USD in creating a core baking platform. -
- Giving a Term license and not giving a perpetual license. This will give revenue visibility after 5/7 years.
- AMC is only for licensed-based revenue.
- SAAS around 100 cr revenue/quarters
GeM- Part is paid upfront. The rest is paid when the payment is made.
Europe
- Our product architecture resonates with a customer
- Word of mouth and referentiality is giving us good traction in Europe (UK & Europe)
US/Canada (Not publishing number for US contribution)
- Started focusing on the US in last two years
- Solid traction of magic submission in the US/Canada.
- Magic submission can grow 50% in the US market.
- Magic submission last year 0.5 USD per deal. Deal size can be 3 million USD ARR per deal
- Clients- Bank 10 Insurance 15
- Will take 18/24 months at inflexion points in North America
GTB- Winning 3 out of 4 deals.
Liquidity- Good traction due to higher interest rate.
- 3/4 deals in France.
- Spain/Italy is in progress now.
GCB
- IDC (Core Banking Platform)
- Every bank needs a Core bank (5000 banks )
- Working on seven deals in Europe on Mac Bond core banking
- Top 3 vendor in Europe marker for many deals
- Deals closing take from 12-24 months
- ThoughtMachine/Teminos are the main competitors for big banks. Not seeing Mambo in large deals.
- iKredit 360- SME/Secured/Insured loans can be processed on this platform.
Quantum
- Slowdown in deals in last 2 quarters
- Deals move from Africa to the advanced market
Intellect AI
- Merged a few units to create this.
- 80% of banks are considering replacing Miles with our Wealth Platform
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