Enfusion, Inc. (NYSE:ENFN) Q2 2022 Results Conference Call August 9, 2022 5:00 PM ET

Company Participants

Ignatius Njoku - Head, IR

Thomas Kim - CEO

Steve Dorton - CFO

Conference Call Participants

Matthew Kicker - Stifel

Tanaka Mehta - Bank of America

James Faucette - Morgan Stanley

Faith Brunner - William Blair

Operator

Good afternoon, ladies and gentlemen. Thank you for standing by. Welcome to Enfusion's Second Quarter 2022 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded.

I'd now like to turn the call over to Ignatius Njoku, Head of Investor Relations, to begin.

Ignatius Njoku

Thank you. Before we begin, I'd like to remind you that today's call may contain forward-looking statements. These forward-looking statements are subject to numerous risks and uncertainties, including those set forth in our filings with the SEC and are available in the Investor Relations section on our website. Actual results may differ materially from any forward-looking statements we make today. These forward-looking statements speak only as of today, and the company does not assume any obligation or intend to update them following today's call, except as required by law.

In addition, today's call may include non-GAAP measures. These measures should be considered as a supplement to and not as a substitute for GAAP financial measures. Reconciliation to the nearest GAAP measure can be found in today's earnings press release, which is available on the company's website.

Hosting today's call are Thomas Kim, Enfusion's Chief Executive Officer; and Steve Dorton, Enfusion's Chief Financial Officer.

With that, I'd like to turn the call over to Thomas to begin.

Thomas Kim

Thank you, Iggy, and thanks to everyone for taking the time to join us. I'm pleased with our execution for the second quarter, exceeding our revenue and EBITDA expectations. We continue to drive higher revenue growth along with healthy profitability. We continue to bring on higher ACV clients across the world. And in the quarter, we brought on another 7-figure deal with a client that is implementing our end-to-end portfolio management and OEMS solutions.

We more than doubled our signing of institutional asset managers from last quarter, and we continue to diversify our client base by signing the more high-value conversions that involve displacing legacy systems than we ever have. In fact, we grew bookings for new client conversions by 63% year-over-year. These results not only demonstrate the persistent strength of our client demand, but also the resiliency of our global business model, even while operating in an environment with increasing market volatility.