Shutterfly, Inc. (NASDAQ:SFLY) Q1 2018 Earnings Conference Call Transcript

May 01, 2018 • 05:00 pm ET

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Shutterfly, Inc. (NASDAQ:SFLY) Q1 2018 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good afternoon, and welcome to the Shutterfly First Quarter 2018 Earnings Conference Call. All participants will be in listen-only mode. (Operator Instructions) Please note this event is being recorded.

I would now like to turn the conference over to Shawn Tabak, Vice President of Investor Relations. Please go ahead.

Executive
Shawn Tabak

Thank you, operator. Good afternoon, everyone, and welcome to Shutterfly's first quarter 2018 earnings call. With us today are Christopher North, our Chief Executive Officer; and Mike Pope, our Chief Financial Officer.

By now, you should have received a copy of our earnings announcements, which crossed the Wire just after the market closed. If you need a copy of the press release, please go to shutterflyinc.com to find an electronic copy. Our presentation is also available on our Investor Relations site. The audio of this conference call is being recorded for playback purposes and a replay will be made available within a few hours.

Before we begin, I would like to note that our discussion today may include forward-looking statements within the meaning of the Securities Act of 1933 and then Securities Exchange Act of 1934. These forward-looking statements include statements about our business outlook and strategy and the assumptions underlying those statements and statements about historical results that may suggest trends for our business.

For more information regarding the risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements, as well as risks relating to our business in general, please refer to the Risk Factors section of our most recent Form 10-K and our other filings with the SEC.

I would also like to note that any forward-looking statements made on this call reflect information and analysis as of today and we assume no obligation to update this information. This information may contain certain financial performance measures that are different from financial measures calculated in accordance with GAAP and may be different from calculations or measures made by other companies. To the extent possible, a quantitative reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is available on the Investor Relations section of our website at shutterflyinc.com.

Now, I would like to turn the call over to Chris. Chris?

Executive
Christopher North

Thanks, Shawn. I'd like to welcome everyone to Shutterfly's first quarter 2018 earnings call. Let me start by saying how excited we are about the path we've embarked on and what it means for our customers, shareholders and employees in 2018 and beyond. Last year's restructuring streamlined the company, allowing us to invest more in customer-facing innovation, while delivering greater profits for shareholders. The Shutterfly Consumer single platform migration we completed last year allows us to leverage that innovation across more brands and a larger customer base.

Shutterfly Business Solutions revenue has almost doubled in just two years since 2015, as we leverage our world-class manufacturing platform to help other businesses provide personalized communications to their customers. And of course, with the official closing of the Lifetouch