BioTelemetry, Inc. (NASDAQ:BEAT) Q1 2018 Earnings Conference Call - Final Transcript

Apr 25, 2018 • 05:00 pm ET


BioTelemetry, Inc. (NASDAQ:BEAT) Q1 2018 Earnings Conference Call - Final Transcript


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Good afternoon. Thank you for joining us for the BioTelemetry First Quarter 2018 Earnings Conference Call.

Certain statements during the conference call and question-and-answer period to follow may relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities and Litigation Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company in the future to be materially different from the statements that the Company's executives may make today. These risks are described in detail in our public filings within the Securities and Exchange Commission including our latest periodic report on Form 10-K or 10-Q. We assume no duty to update these statements.

At this time, all participants have been placed on a listen-only mode. The floor will be open for questions and comments following the presentation.

It's now my pleasure to turn the floor over to your host, Mr. Joseph Capper. Sir you may begin.

Joseph H. Capper

Thank you, operator, and good afternoon, everyone. I'm Joe Capper, President and CEO of BioTelemetry. I'm joined by Heather Getz, our Chief Financial Officer. I'll start with a recap of our first quarter performance and other key developments. Heather will take you through a more detailed review of our financial results. I will then provide commentary on how we see the business continuing to evolve throughout 2018. After our prepared remarks, we'll open up the call for questions.

I am incredibly pleased to report on another outstanding quarter during, which we exceeded all of our expectations and again set all time highs in revenue, EBITDA and EBITDA margins marking our 23rd consecutive growth quarter. It comes as no surprise that we're generating such consistent results because we know that our business strategy is well suited for our markets. It's not easily replicated and we are successfully executing on it.

As you will hear today, we operate from a position of strength versus the competition. At the close of Q1, we were the better part of three quarters into the integration of our healthcare business, post the acquisition of LifeWatch and we remain well ahead of schedule on all key milestones.

We have the largest and most productive sales force in the industry, a vast network of covered lives, selling the most comprehensive suite of cardiac monitoring solutions, now with even more options from which the physicians can choose. Our research division is also experiencing accelerated growth, building backlog and converting it to revenue at a record pace.

We continue to develop strategic relationships in our digital population health business and support the advancement of the Apple Heart Study both which have the potential to drive significant future growth. Given these factors, we expect our positive momentum to continue, as we have an abundance of opportunities on which to capitalize.

Before I provide more details on these and other projects, it is important to mention that this type of sustained performance does not