Perficient, Inc. (NASDAQ:PRFT) Q4 2023 Earnings Call Transcript

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Tom Hogan: And just for perspective, the challenge on the ramping is more at the client level than it is at our level. We have the ability to ramp much faster as a matter, the client to be able to consume the talent that we’re providing, as well as they’ve actually decided to move out one of the majors from that relationship. So there is some knowledge transfer and shifting of work, shall we say, from this other organization to us, which is taking place as well. So the ramp isn’t fully dictated by us, which is why we’re also seeing a little bit slower ramp than we initially anticipated as the client prepares to be able to absorb our team.

Puneet Jain: Got it. And it’s nice to see like addition in Romania. So my question is, like when you got into Latin America through PSL acquisition, I believe in 2020, that was an absolute homerun for Perficient, like that business grew so much. So now that you are getting into Central Europe, can you talk about like what client conversations look like? It could be a little bit early, but are you seeing anything or what you expect for ramp in Romania locations?

Tom Hogan: I agree, by the way, Puneet. I agree that Latin America was a homerun and looking forward to step into the batter’s box to keep that analogy going and hit another homerun. I will say it is early. We just finished that acquisition here a month or so ago. I will say though that a number of our clients are quite interested in now as having a foothold into Europe. Most of our U.S.-based customers have some — large Fortune organizations have some European presence and they’ve been asking for our ability to service them in Europe. Also there were some nice relationships that came with SMEDIX that we’re interested in representing the full portfolio of Perficient offerings to as well. So I think that bidirectional excitement is really there.

Once I mentioned — once again it’s still early, still in the conversation phase, but I think Europe is going to be a nice place for us to hit another homerun for Perficient. It will take a little bit of time. Latin America was great through some acquisitions and I’m really excited about the team that comes with SMEDIX, very high talented engineers that right now are focused on med device, but we’re really excited about bringing different areas of our portfolio into that region.

Paul Martin: And I think similar to what we did with PSL, we have a beachhead, so to speak, now in Central Eastern Europe, similar to what we did as I said with PSL. Yeah. So we fully intend I think to build that out as Tom said in his opening remarks, and I think that’s a big opportunity for us.

Puneet Jain: Okay. Thank you.

Operator: I show no further questions at this time. I would now like to turn the call back to Tom Hogan for closing remarks.

Tom Hogan: All right. Well, thank you, everybody. Look forward to connecting here shortly in the next couple of months to talk about Q1, and where we look for Q2. So have a great day, everybody. Thank you.

Operator: Thank you for your participation in today’s conference call. This does conclude the program. You may now disconnect.

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