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CLAIM #10308 · BK (BK) · 2024Q1 earnings call · Apr 16, 2024 · due Dec 31, 2024

and we made a commitment to the market that we would kind of add $30 million to $40 million of revenue this year, and we still feel very good about that guidance and that commitment that we made to you back in January.

Dermot McDonogh · CFO

PENDING
graded after results covering Dec 31, 2024 are reported

In context

market. So we're going to win our shares. So while the deconversion was unfortunate, we continue to march on and we learn our way out. Specifically, I would say, we'll be largely done with the deconversion by Q3 of this year. And as it relates to the second part, I would say look we're in a competitive market, people are going to do things the LPL Atria thing it's not a particular headwind, it's not been highlighted to me, it's not hit my radar in terms of oh my gosh, we need to worry about that. And so I think we're winning more than we're losing and we're investing and that's really going well. And when you take it in the context of what's going on with Wove, we're building a strong pipeline there. The backlog is looking good. We've added nine clients to the platform in Q1 of this year, and we made a commitment to the market that we would kind of add $30 million to $40 million of revenue this year, and we still feel very good about that guidance and that commitment that we made to you back in January. Robin Vince : And Brennan, I just add on the business front to that, which is remember that when we look at a deconversion, for sure those happen, and the one that you're referring to, the original one was a larger one. But we're also growing with our clients. Our clients are growing with us and we also are on the receiving end of roll-ups as well. Our clients are quite acquisitive and we have a couple of clients who've been doing acquisitions and we have some of our largest clients who are growing very significantly and very healthily. So it's always unfortunate when there's a roll-up that goes against us, but when there are roll-ups that go with our clients, those things balance out to some extent which is why Dermot makes the point about overall, we still feel quite enthusiastic about

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SEC filings for BK · Claim quote is verbatim from the 2024Q1 earnings call.