Christal Bemont, CEO of cloud data company Talend, joined Yahoo Finance to discuss her company's earnings beat and the forward guidance that was issued
BRIAN SOZZI: Cloud data integration company Talend just posted earnings that beat analyst forecasts. Joining us now to discuss is Talend CEO Christal Bemont. Christal, good to see you this morning here. Now, you work with some-- some really big companies-- GE, HP, Citi, AstraZeneca. When you talk to them, what are you telling them in terms of advice and that switch over to cloud?
CHRISTAL BEMONT: Well, first of all, thank you for having me. And we do have some amazing customers, and they really have a great customer story. Right now every business that we're working with is either thinking about or in the process of digital transformation and using data to really either reinstrument their business or look for new opportunities. It's really about being athletic at this moment.
ALEXIS CHRISTOFOROUS: Now, I also-- you also did something a lot of companies are not doing right now, you issued full year guidance. Tell us what you are seeing for your business in the latter part of this year and heading into 2021?
CHRISTAL BEMONT: We did. We felt very confident in that. We had a really amazing Q2. The number one growth factor and guide for us is cloud, just like you were saying, Brian. And our cloud business is on fire, quite frankly. And we-- we reissued guidance. We felt confident in that.
And we have a Cloud ARR target that we're running after that's $100 million. And we find ourselves at $75 million already just in the first half of the year. So we're very excited about it. But it's very much driven by companies that are moving to the cloud because of the businesses that they need to look at ways of, as I said, reinventing themselves, in some cases.
BRIAN SOZZI: Christal, where is that cloud business coming from? Does that come from a lot of companies still-- that they still have that-- that significant or just sizable on-premise business that they have to get over-- get it out of?
CHRISTAL BEMONT: We're-- you know, we're seeing a mix. We do see some of our on-premise customers that are in that transition phase of moving to cloud. And actually, we had a better than expected quarter, so we were surprised by how much of that we've seen. But really, our-- in new business, new clients, and that's clients of every size.
And really, there isn't a single company that isn't thinking about how to get data in a place that they can really think about their business differently. It's unprecedented times, as we all know, and it's not just about getting data. Because I think, you know, the reality is there's a lot of data out there. It's can you get trusted data that you can actually change the outcome of your business? And that's where we really lean in is on the trusted data side of things.
ALEXIS CHRISTOFOROUS: I know that you recently hosted a successful virtual summit with over 2,000 employees. A lot of us now continuing to work from home and businesses are realizing, you know, we can do the bulk of what we do outside the office. What are you going to do going forward? Have you given thought to-- I'm sure you have-- I mean, will these events become virtual on a permanent basis?
CHRISTAL BEMONT: I think we're going to see more of that. You know, it's interesting when you have a circumstance which forces you to think or act differently, what that really opens up in terms of opportunities. I see things in this pandemic that are certainly just-- just tragic. But then I look for amazing opportunities, there's the silver linings.
And I think it's one of the things that you just mentioned, Alexis, that our virtual event that we had, we-- the ROI on it, the number of people that we could host, the amount of content, the way that we could bring information to people in-- people didn't have to travel for that, so they were able to balance it. And I think these are really great opportunities that will shape the way that we work in the future. And we'll certainly be leaning in on our side.
BRIAN SOZZI: Christal, for investors who may not have heard of Talend, what's-- what's the pitch? What's the pitch to those investors who-- who you want to get interested into your company, what does the next year look like for your business?
CHRISTAL BEMONT: Well, I'm really excited about the next year. If-- you know, for those of you who don't know about Talend, it's a data integration, as you said, Brian, and an integrity company. And where we really put an amazing amount of focus is on trusting data. And so when I think about-- the problem that everyone's trying to solve is they need to use data to not only instrument their business, but think about, how do I change business outcomes?
Literally, every decision that they're making about their company comes from the data that they're looking at. And I bet there isn't a single company that doesn't say, well, we have a lot of data. The question is, is it data that they can actually quantify as quality data that we call trust, trusted data that has the ability, for the first time ever in the industry, quite frankly, to say I can put a quantifiable measure against how healthy my data is at an individual report level or across my entire company?
And all that any of us in this space should be thinking about is, how do we put data in the right hands, at the right time, in the right way for companies to be able to run their business? And we look at that as-- as integration's important, but trust is the most important part, that the data has to be really, really good, and you have to know it.
ALEXIS CHRISTOFOROUS: Christal, I think you hit it. Trust, competence-- huge here. And we've seen a number of hacks, high-profile hacks happening throughout this pandemic as many people work off less secure systems working from home. How has that impacted what you do?
CHRISTAL BEMONT: Well, you know, trust is a really emotional word, and it comes-- you think about how-- I think going back to something Brian brought up about what is pushing people to the cloud, the necessity to work remote is the force behind the digitization and making people-- making sure that people are set up. Of course, that comes with risk.
And you look at how do you-- how do you bring employees into a productive but also safe environment? And I think it just brings new pressures and new things to consider. But trust is a really interesting word, and it-- and it starts to come to the surface in a lot of ways that companies have to think about differently, more now than ever before.
BRIAN SOZZI: All right, let's leave it there for right now. Talend CEO Christal Bemont, good to see you. Have a good weekend.
CHRISTAL BEMONT: Thank you. Thanks for having me.