SITO Mobile, Ltd. (NASDAQ:SITO) Q2 2018 Earnings Conference Call - Final Transcript
Aug 20, 2018 • 04:30 pm ET
Greetings, and welcome to the SITO Mobile Second Quarter 2018 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. (Operator Instructions) As a reminder, this conference is being recorded.
I will now turn the conference over to your host, Rob Fink. Thank you, you may begin.
Thank you, operator, and thank you everybody for joining. Hosting the call today are Tom Pallack, CEO; Bill Seagrave, COO and Co-Interim CFO and Aaron Tam, Co-Interim CFO.
(Forward-Looking Cautionary Statements)
Before I turn the call over to management, I would like to remind everyone that a press release disclosing the financial results was issued today after the close and it can be accessed on the company's website at sitomobile.com under the News and Events link that's found on the IR tab.
With all that said, I'd like to turn the call over to Tom Pallack. Tom, the call is yours.
Thank you, Rob, and good afternoon, everyone. Over the last several months we have continued to advance initiatives to transform our organization from what was historically been a media placement business with one-time campaign-driven revenues to a differentiated consumer behavior research organization which syndicated and contracted data revenues that are re-occurring. As we have discussed extensively on our quarterly calls, we are aggressively working to close a number of large company prospects and their top tier agency partners.
So where do we stand. First, for any small and emerging organization working to bring on larger customers, the pacing of the sales process can be unpredictable, challenging and is almost outside of a smaller company's control. As we advance discussions with prospective customers, we have addressed the many different layers of a larger organization that our offering touches, and the time it takes to educate and coordinate efforts with all the different departments within these perspective customers.
In addition, the increasing media attention and importance of data privacy, a potentially evolving regulatory environment and general best practices have certainly added additional vetting and approval processes that an organization like ours needs to go through within a large customer organization. All of that said, I stand here today confident that we are on the right track. As part of our strategic corporate transition, we reconstituted our Board of Directors to add accomplished, marketing advertising executives, who have expertise and relationships with brand and agency prospects to support the pursuit -- our pursuit of new business and experience to guide organization through the business transition that we have put in motion.
On a personal note, it's extremely humbling to have executives of their stature and caliber believes in our vision and strategy. The backgrounds and experiences of these new Board members are vast and important to SITO. We have added Steve Felsher, Former Vice Chairman and CFO of Grey Advertising. Jon Bond, a world-recognized ad agency executive, Bonin Bough, a TV host, author and creative brand innovator, Brett O'Brien, a Pepsi Executive currently leading Gatorade