Zoom Video Communications, Inc. (NASDAQ:ZM) Q4 2023 Earnings Call Transcript

Kelly Steckelberg : In terms of M&A, we look at both. We’ve been very successful in the past by buying those technology tuck-ins to accelerate our development, as you’ve seen with the Saudi acquisition, which has been a great accelerant for us in terms of Contact Center and continue to look at those, but also looking at other areas that there might be leaders in the space that makes sense for us. So we’re continuing to look at both. And we — every quarter, we talk to our Board about our capital allocation strategy. And of course, M&A is at the top of the list. We do not, as you indicated, have a buyback authorization in place today. We will continue to look for opportunities to deploy our capital in the best way possible for our investors.

And right now, we — again, as I said earlier, our #1 focus is reaccelerating top line growth and making sure that we have the flexibility to do that if opportunities arise. And so that’s why, for the moment, we’ve decided to hold at least on requesting an authorization for a buyback.

Kelcey McKinley: And again, everyone, that does conclude our Q&A for today. I’ll go ahead and pass it back to you, Eric, for any closing or additional comments.

Eric Yuan : Thank you, all. Really appreciate you time. Love you, all. Thank you. Take care.

Kelly Steckelberg : Bye, everybody.

Kelcey McKinley: Thank you. And again, everyone, this does conclude today’s earnings release. As always, we thank you all for your participation, and we look forward to seeing you again in the spring and summer. Until then, take care and enjoy the rest of your day.