Blucora, Inc. (NASDAQ:BCOR) Q4 2015 Earnings Conference Call - Preliminary Transcript

Feb 11, 2016 • 05:00 pm ET


Blucora, Inc. (NASDAQ:BCOR) Q4 2015 Earnings Conference Call - Preliminary Transcript


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Good day, ladies and gentlemen, and thank you for your patience. You've joined the Q4 2015 Blucora Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will be given at that time. [Operator Instructions] As a reminder, this conference maybe recorded.

I would now like to turn the call over to your host, the VP of Investor Relations Ms. Stacy Ybarra. Ma'am you may begin.

Stacy Ybarra

Good afternoon, and welcome to Blucora's investor conference call to discuss the fourth quarter and full year 2015 results. Before we begin, I'd like to remind you that during the course of this call, Blucora representatives will make forward-looking statements, including but not limited to statements regarding Blucora's expectations about its products and services, outlook for the future of our business and growth initiatives, and anticipated financial performance for the first quarter and full year 2016.

Other statements that refer to our beliefs, plans, expectations or intentions, which may be made in response to questions, are also forward-looking statements for purposes of the Safe Harbor provided by the Private Securities Litigation Reform Act. Because these statements pertain to future events, they are subject to various risks and uncertainties, and actual results could differ materially from our current expectations and beliefs.

Factors that could cause or contribute to such differences include, but are not limited to, the risks and other factors discussed in Blucora's most recent Quarterly Report on Form 10-Q on file with the Securities and Exchange Commission. Blucora assumes no obligation to update any forward-looking statement, which speak only as of the date the statement is made.

In addition, during this call, our management will discuss GAAP and non-GAAP financial measures. In the press release, which has been posted on our website and filed with the SEC on Form 8-K, we present GAAP and non-GAAP results along with reconciliation tables, and the reasons for our presentation of non-GAAP information. We have also provided supplemental financial information to our results in the Investor Relations section of our corporate website at, and filed with the SEC on Form 8-K.

Now, I'll turn the call over to Bill Ruckelshaus. Following his comments, Eric Emans will review fourth quarter and full year 2015 results and 2016 outlook. Then we'll open up the call to your questions. Bill?

Bill Ruckelshaus

Thank you, Stacy. To those on the call, good afternoon and thank you for joining us. 2015 marked an important and transformational year for Blucora. In my opening remarks, I want to briefly recap our strategy, update on the execution steps remaining to complete the transactional phase of our transformation and provide further insights on the opportunities within and between HD Vest and TaxAct.

Let me start by providing some perspective on where we've been and how we have arrived at where we are now. Blucora's multi-stage transformation began in 2010. In stage one, we pursued a deliberate strategy with a central objective, to allocate capital to acquisitions