Antonio Pietri : Yes, yes. Look, Mark, the fact is that our APM business, especially our Mtell product, is a great product. I think Mtell has been given 5 or 6 awards as best technology or AI, IoT, whatever since the very beginning. I mean in almost every region of the world, Mtell has gotten a best technology award by hydrocarbon processing, by conferences. Frankly, it’s a little bit incredible, the recognition that our products receive. So okay, a lot has happened with Mtell and APM. What we’re clearly seeing is that the value proposition for Mtell is incredibly clear, quantifiable and material to, in some customer segments. To the extent that we see very little attrition in those customer segments. So these customers buy the technology deployed and expanded.
So we have we have some customers already with the technology across 20, 25 sites generating incredible value. And I’m not going to mention what customer segments because I’m sure the competition is probably listening. But at the same time, we have some customer segments where customers love the technology. They buy, they implement it and for whatever reason, a year or 2 later, either their teams move on, get promoted, leave the company, and the value hasn’t really been proven and quantified, and therefore, there isn’t a commitment to sustaining the use of the technology. That is what generates attrition. So the product and Mtell and APM, they’ve never stop generating growth. The fact is that every quarter, there’s an important amount of gross growth, new growth that gets generated that is negated then by some attrition.
So in this review that we’ve done, and it’s part of the outcome of the reviews that I’ve been involved in is clearly that if we sharpen our focus with Mtell and APM, we can go into some customer segments where we will be very successful with the product, where we will see very little attrition, and therefore, the net growth will be more material and a contributor to our overall growth as a company. So that’s what we’re doing. For fiscal ’25, we’re going to sharpen our strategy, we’re going to be very focused and we’re going to pursue not business for the sake of business, but high-quality business that doesn’t generate attrition later on. And we believe we have a number of customer segments. I can tell you, we believe we’re becoming the leader with Mtell in some of those customer segments by far.
And those customers that are already using it, they just love the technology.
Operator: I would now like to turn the call back over to Antonio Pietri for any closing remarks.
Antonio Pietri: All right. Thank you, Josh, and thank you to everyone for joining the call today. We will be attending the Baird Technology Conference and the William Blair Growth Conference in the first week of June. So please reach out to our Investor Relations team for more information on this event. We look forward to catching up with many of you soon. So thank you, everyone, for joining and we will see you on the road. Thanks.
Operator: Thank you. This concludes the conference. Thank you for your participation. You may now disconnect.
