Nathan Latka

Are you looking to be opportunistic in a downturn with M&A?

Always.

What are you buying?

I mean, what are you interested in?

Yeah, I guess going back really quick to your guys's capital structure story, obviously a nice big moment last year with the sale, but, um, your guys, I think your first round was like 20, wasn't it back in 2012 with Excel for 50 million bucks, but you said the company launched 2015.

So what was going on there?

Does that mean this year closing out 2023, you guys will be what plus or minus 5% EBITDA margin somewhere in that range?

I've never sold a company for a quarter billion dollars.

What would eat cash 12 months after that at the company that just got rid of that company and sold it?

Wouldn't the new company be the one sort of taking the cash hit there?

Help me understand that.

People didn't go with the deal?

I would have thought the buyer would have taken a bunch of people.

Oh, I see.

Yeah.

Joe, a lot going on at Code42, but when you were setting your goals a year ago, what were you hoping to grow by year over year percentage wise?

Yeah.

I mean, the rule of 40 is obviously very interesting, right?

If growth is lower than you got to juice, get 20% EBITDA margin basically to get there.

Right.